If I had to set up a 50 gal (assuming 36" width) lps reef on the cheap (without being ghetto) this is what I would start with:
- 50 gal tank with no center brace and stand
- single 150-250 watt MH pendant, fluorescents ok but dont look as good IMO
- heater
- 2 MJ 600's or 900's
- 25-50 lbs live rock
- thermometer
- timer
- hydrometer (personally, I would get a refractometer)
- salt
- calcium and carbonate test kits
- calcium and carbonate additives (turbo calcium, reef builder, kalkwasser or bulk equivalents)
Go bare bottom tank. Save up or tell friends/family that you want aquarium gift certificates for BDay/Xmas and get a good hang on skimmer down the road. I might be missing some incidentals but that's about what I would consider minimum.
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