A friend of mine built a PR out of 4X4 support timber (bracings for shiping heavy equipment parts....don't know what type of wood, but very hard and tough) more than ten years ago. He, and others, are still using it. I didn't think it would hold up, I was wrong. Used treated steel as the pin's (got from a fab shop) and a heavy drill bit to make the hole spacings. He mounted the bottom 4X4's in cement forms about 8-10 inches deep and braced the top part of the rack with cross sections. It's been in his backyard workout area all these years, rain or shine. He coat's it with wood seal from time to time. The only real expense was the rented power drill & power saw, cement, center bit and the steel pin's (two set's of pin's). I got the heavy packing timber for him, from where I used to work at (surface mining plant). They junk the wood anyway after a large boxed shipment of machinery/parts arrive.
He's got dipping bars, chinning bar, lat machine, etc, all removable, on the PR. 600lb + plus has been use on those pins, so this home made equipments has answered the call to duty many times over. With a little know how and common sense, that PR was pretty simple to make. Hint: make a drawing of the general plans before you start building from ground zero. Good Luck.