You're new and you're thinking of co2 and active hydro? That's crazy. Get a tent, a 400w hps, some pots and some dirt. DWC is pretty cheap & easy too, if you want to go that route. You don't need anything else other than nuts & bolts stuff (timer, fan, fert). $500 is more than enough, just forget about all the high tech shit. Once you know what you're doing you can experiment with all that if you want, but it really isn't necessary.
agreed. if this is your first grow, do it in dirt. get everything you NEED and nothing that you dont. cheap lighting for veg. soil. timers, ph kit, ph adjuster (PEOPLE ALWAYS FORGET THIS), nutrients... dont go crazy doing some 1000w light or CO2 or anything. keep it simple. DWC is cheap to make if you have the materials handy and some tools, but you still gotta go get a air pump, water pump, tubing, mesh pots, hydroton balls, grodan blocks, coco fiber cores, etc etc.
id say with 500 bucks. go dirt. get a 85w CFL for vegetative (you have 2 months to save up to get a flowering light), get all the basics. no fancy shit. when i say pH kit, i mean the plastic vial and eyedropper, not the cool electronic one. you will need to buy so much random shit that youll go thru 500 bucks easy.
do you know how many extension cords, or duct tape, or electrical tape you gotta buy? and your taking CO2? i make co2 for my plants by sitting there talking to them and that shit is free.