Welcome to the site :jointsmile:

Even though you can get the light for cheap, you'll still need to invest in: seedling soil, perlite, different sized pots, ventilation, odor control, nutrients, ph pen, ph up/down, calibrating solution, etc.. It's amazing how the costs of growing seem to always add up, and it seems like there is always something else you should buy.

With that said, a 200w hps should be fine for one plant. You really want to aim for 5,000 lumens or more per square foot of growing space.

Miracle Grow soil is OK, as long as it's not the time-released fertilizers or moisture control soils. You will, however, probably need some other nutrients because the nutrients in MG will run out in about 3-4 weeks. Also mix the soil with 25-30% perlite. You will need a seedling soil to start with, as MG can kill a new plant because of all the nutrients.

Check out the growing section in the forums. The stickies at the tops of the sections have all the info you will ever need. Do some serious reading here in the next week or two so you know what you're getting yourself into :thumbsup: