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Trade bulk goods, do not go the route of manually mining, you'll get bored of it before you realize how tedious it actually is.
Slowly work your way up, set up a few MK3 traders, set up some minor hubs for selling things, do 'easy to complete' missions that require no investment. In between scout the universe a bit and work at your rep by moving to different races space while you do some trading and missions.
Before you know it your empire, without you, makes good money and all races love you :)
Also, early on, convoy-escort-missions can also be useful. Later on these get increasingly annoying however, since the transports to escort don''t get stronger (some TLs would be nice there...) .
And once Kha'ak M6 are spawned by the missions, you'd better have loads of (swarm-)missiles to spare, or several M6 or stronger (M7/M1/M2) yourself - otherwise, escorting doesn't make sense from that point on.
Station-defense-missions however will still be good at that point ( since stations have largely more armor-/shield-HP ) , AS LONG as you remember to stop eventual torpedoes launched by bombers or larger ships.
Yes, earning reputation via missions is far too easy...
Combat kills raise combat rank.
Trading large amounts of bulk wares at or near their extremes, bartering wares for other wares, and selling weapons to certain stations (gun running) increase econ rank.
Completing missions, killing enemies of the faction who owns that sector, and to a far lesser extent trading increases rep.
A good way to make some early start-up cash is to collect missiles etc in a sector where there are pirate incursions... for example Elena's Fortune which borders two pirate sectors is a good spot to find missiles.
ps your race standing does not affect what is available... only what you can buy
I'd guess EmperorPrince means the "Custom Start"-option?
I actually never tried it (had enough others in my setup) , so I'm not sure what that one would be like...
Yes - the things your notoriety isn't high enough for should show up, but in red (unbuyable).
Should you however have gathered some of them ( e.g. by collecting specific missiles which require high notoriety ) , you can usually sell them without problems ( provided your notoriety is high enough to allow docking ) .
If you sell enough collected missiles, that can even raise your notoriety.
If you can acquire an Argon Discoverer Hauler with maxed out cargo capacity, then equip it with a Jump Drive & Cargobay LifeSupport System, Taxi missions that don't require a TP are generally very doable (once you have a TP, they're even more doable if you add a Transporter Device to one of the ships, as you only have to pick up the passenger in the TP, once they're onboard you can transfer them to a faster ship & send them on their way).
After that you want to acquire a TM (preferably a Chokara, Zephyrus, or Boa) so you can do "Return Abandoned Ship" missions (keeping your JD-equipped Disco on the TM means you have a spare JD so that any ship you need to return that can't dock with the TM can be temporarily equipped with a JD, then sent ahead, so that you can follow after & recover the JD helps), & these can get scary profitable when your Race Rep is near maximum but your Trade Rank isn't (use BigShip targets to train marines in Boarding, then sell them for 10s of Millions of Credits rather than the 100 or 200 thousand mission reward, also an easy way to acquire your first M7M [just make sure you jump it to Senator's Badlands so the police ships that spawn when you fail the mission are in a hostile sector & get killed without further impacting your Race Rep]).
The trick in the game is to notice that the economy is failing. (for older game versions there were programs to calculate the universe statistics of production. Sector planner or something it was called) There are not enough SPP, crystal fabs, lower and mid tier factories to supply the higher tiers like the weapon fabs. So production will eventually come to a stagnation or halt. Or a trickle for the most time.
And I agree the discoverer hauler is the 4th best M5 for passenger/courier missions. The others are the yaki fujin raider/sentinel, and #1 is the vanilla fujin with 87 medium cargo can haul up to 14 passengers at 400+ m/s. The econ type psgr missions can be delivered remotely, but the think type missions you must deliver them yourself.