How can I get back into vinyl very cheaply?

Hi and thanks for taking the time to read my thread. I grew up in the 70's and amassed a relatively large record collection. Moreover my buddies from high school are willing to give me their old Lp's. However I don't have much in disposable income so I am wondering if there is a good TT,arm, cartridge, combo to be had for ~350$ I had a denon direct drive turntable when I was a kid, but reading this site makes my think that a belt drive table would generally be superior. I particularly am wondering what old units I should look for on ebay. There are almost 1000 units for sal on ebay and most of them are in my price range, but I really don't know for which units I should be looking. Finally as I don't even know what VTA is, ease of set up is important. I appreciate all opinions.

PS. My Musical Fidelity pre has a phono stage that is purportedly good but not great for MM and adequate for MC