Build an aeroponic system out of a tote and use net pots either 2 or 4. And I would go feminized thats what I did on my first grow and i still buy fem occasinally, it will give you confidence and this way you wont have to kill half which would suck because you would only be left with half of the desired number of plants. Use cfls for your veg but def Buy a 400w hps. for bloom you should be able to do this with your budget. Also buy a strain that is mostly indica. Here is a link to a good and reasonbly priced hydro store.

High Tech Garden Supply

They have awesome customer service. and quality products.

As for the aero system I have never used one but want to and it would work well with your aloted space IMO.