You can do it with no enlarger, no enlarging lens and a minimum of darkroom equipment. The negatives are easily processed in pie plates. No extra tanks, hangars or processors are needed. Yes, and I use one now that I have it. But you can easily process the film by hand without it.
Contact printing is easy to do.
Or you can use newer papers and Dektol or other developers. Your entire darkroom for contact printing can easily be a printing frame, a floodlight about 3 feet above the table used for exposing the contact prints and some trays for chemistry. It really is that simple. If you do get a 5x7 enlarger you are in for a treat as the negatives are so big that you will have a tough time using a grain focuser-you can't even see grain from negs this big in most enlargements. If you have grown up on 35mm the translation of your photographic vision will most likely work very smoothly as you go to 5x7.