I went the way of LR and dsb in my FOWLR (Fish Only w/ Live Rock). It was expensive and I did do *some* of it over time. The tank and stand with glass covers and a lighting strip were about 300.00. The rock and sand were the *real* costs. (along with equipment). I could have saved money buying the rock online and southdown sand instead of 120lbs of the high quality sand, but my 20 gal was way overcrowded and I had to do stuff fast. Never do stuff fast!!!!
I am absolutely amazed every day however with the life growing b/c of the LR. I'm happy I did it this way and it maintains itself pretty well. I do water changes and clean out the filters.
50 gal long, 85 lbs LR(or more - lost count) LR, 120lbs Sand (2 1/2" - 3" deep). 5 Fish (percula clowns, royal gramma, sleeper goby scooter blenny), cleaner shrimp, pepperment shrimp, serpent starfish, various snails and hermits.
Good luck!