If space is tight and you have the nugget for this, then a canister would be a good option. Lots of media options and flow rates.
You can save money with DIY with the wet/dry. There are numerous examples on the web on how to build one. Depending on the space available under the tank, you could use a decent sized tank as the sump. In the first section you can load it with various media for mechanical filtration. This will help keep the biological media free of debris (should not need to clean the biomedia).
As for the return, if the end of the return line is below the water level, then it could siphon water out of the display tank and into the sump when the pump is off. You can counter this by drilling a small (1/8"-1/4") hole in the return just above the water line. Water will dribble/shoot out of it depending on the flow rate so you should angle the hole downward. When the pump is off, air will enter the return the return line and break any siphon from forming.
If you do go with a wet/dry, then you need to decide if you are going to drill the tank or use an HOB
style overflow to transport water to the sump.
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