First Grow Questions, please answer!!!

After many a research through this and different message boards, I have found this one to be the most helpful. I am looking to create a relatively small setup when it comes to space, but hoping for a good size yield.

I have two main options: A small closet, roughly 2 x 4.5 x 6ft maybe? With a budget around $500 to $600, I would either work with the closet or build a box of relatively the same size... only thing is I am not worried about stealth as much as reliability (Be as cautious as possible with things such as electrical fires, is there any reason to worry?)

My fantasy is for this budget to be sufficient to build a setup that can yield 10oz+ in the limited space I have. Is this at all possible?

Also, would you guys advise: purchasing clones from a friend of mine that is supposedly experienced.. the clones are cross-bred by the grower, he says its regular chronic mixed with something else.. personally this description doesn't really give me much faith, however the fact that clones would take half the time to grow than from seed, I think it's worth the risk.

ANY HELP IS MUCH APPRECIATED!! I'M TIRED OF PAYING SO MUCH FOR SO LITTLE IN MY AREA!!

my set up cost me about $450. all the info is in the journal. with lots of reading at riu, the journals are where most of my ideas for set up came from. i wasted some money buying stuff i did not need or replaced before i even set it up. and i did alot of planning, trips to hardware store, grow shop.
as far as yield 10+ lbs not for sure if thats possible in small space. if it is shit i got some more cloning to do.

here my journal: https://www.rollitup.org/grow-journals/48855-first-grow-pics-need-advice.html

Light Bulbs at BuyLighting.com - Compact Flourescent, Halogen, LED, Energy Saving Bulbs
for cheap 100 watt cfl bulbs they also carry HID systems and bulbs all very cheaper than other sites ive been on

if cost is a factor stay away from cfl's...while there start up cost is less you pay it back many times over in decreased yield and less light for the money, i would go for a 600 hps, it will give you give you plenty of light and are not much more expensive than 400's and put down way more light, then you just need a filter fan some pots dirt nutes and a ph tester, and thats your basic set up