just read read read
here at cann
greg green
somas book
jorge cervantes
GrowMoreWeed.com - Guides to growing cannabis weed marijuana

but basically a good organic mixture to base with is a humus/manure mixture with perlite and earthworm castings some sort of meals or guanos for your base npk(i personally like guanos better but bone and blood meals are cheaper) seaweed/kelp products are good source of micronutes, minerals, potasium, natural growth harmones, and using a mycorizea sp? and some subculture or anything that introduces good fungi and bacteria to the root zone

a 250watter is good for small grows

as for 2 ozs, depending on style of grow it will be atleast 6-8 weeks minimum before you get another harvest + dry/cure time, i would shoot for more if your goin to risk it make it worth it. if it were me i would find a good mother and flower abunch of clones and you can put in say 5 every 2-3 weeks and have alittle fresh smoke every few weeks depends on how much work you want to do, or if you want to veg for longer and have more time inbetween harvest do a scrog style grow

as for strain its your preference in what kind of smoke you want but i would look at pain atleast 75-100 bucks for some decent genetics