sounds like you have the sand idea nailed! that setup will work and save you money too. Also the LFS will usually donate you a cup or two of their rich bacteria laden sand from their system. Before you take the plunge on this I strongly recommend that you look into a sump for your tank. Also a good skimmer is a must! And BTW stay AWAY from the undergravel filter idea! Bad Bad Idea! just a huge nitrate factory!

Last but not least....Welcome to CR! This is an awesome bunch of guys & gals and everyone will help you every step of the way!