I just delved into saltwater myself. I have a 70 Tall that im making a reef, well its up and running after lots of planning and reading and plumbing.
I went with the 300W mars aqua led for $169 on ebay, I cant say enough good about that light.
While my fish and corals are new i have it set on minimum on the dimmers. It has independent power and dimmers for blue and white/color so you can buy a set of $4 ge timers to set them to come on at separate times. The output of this light is astounding.
I did go with an oversize skimmer in the sump since i didnt have access to live rock, i wanted to make sure i was skimming it clean while my dry rock got growing, so i got the reef octopus 150 classic int.
Jeabao pumps are cheap and very good as well, im using the DCT8000 at about 56% which is 1200GPH at that rate. 1 inch returns and 1.5 inch drain. same concept of keeping the flow and keeping it clean.
Anyways dont shy away from reefs just yet, buy you a load of hermits, snails, and emerald crabs and get them going a few weeks. Then you add some cheap frags.
you can establish some nice easy corals as long as you have good light and start dosing with something like a kent reef starter kit weekly, then as you learn the testing methods and levels can move to something like dosing pumps/sets.
Obviously things like curing live rock and such have to happen first, adding live sand , and a good bacteria starter like biospira, to get things growing is a must ,if you dont want to set around for 3 months. Still you want to let that stuff go for a week or so in just a tank with flow and not skimming, then get the paramaters close, add another bottle of biospira, put in the first inverts/crabs/snails. Test parameters give them tiny bits of food the first few weeks, then if it stabilizes add a single cheap fish... think damsel /chromis. Start skimming if you havent already, watch the nitrates/ ammonia/nitrites if they stay in check and the fish doesnt end up crab food then slowly stock another fish and try a week monitoring params again.
Add some corals in the mid and lower sections like some $9 zoanthid frags, or some tubinaria, and star polyps. keep the lights dim until they start opening fully. Read, read, read and remember those coral are alive creatures and have a mouth, find out what they eat and feed them, as they thrive with feeding as well as photosynthesis in the good lighting.
Everyone is going to lose a coral or two, some times the seller just frags them wrong, or you mess up and place them in too much light.
I like to look on Aquariumdepot.com as they have a good selection of corals, but it tells the needs of each quickly in the pictures section It will say i like moderate flow, or i need phytoplankton, etc.