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Re Q2,
I think you are going to have some issues here, for a good goto performance you need three/four stars, prefereably 2 each side of the meridian, for good tracking you will need accurate polar alignment, a GE mount will only run the RA motor to track (as will a polar aligned fork) so accurate polar alignment is a must. You will need to level your mount and set your latitude on the DEC scale, then use a compass (allow for local variation) so get South, then do a drift alignment and mark your tripod's position on the ground. Alignment after that is the carry/plonk method for visual/planetary and drift to refine it for long exposures.
Q1 has been answered well already - get the best mount you can afford.
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