Unfortunately the proponents of "inexpensive" balloon launched rocket systems routinely fail to do a proper systems analysis of the problem based on the laws of physics. When the analysis is done properly, you invariably find that extra propellant is much cheaper than the balloon launch system, and that you can make the balloons large enough to loft a very large rocket.Bob
The laws of physics don't always translate into some concrete law of cost. If you mass produce super loki darts, they will certainly be cheaper than rockoons for a given altitude. That plus reliability, and they are much cooler to watch from the ground.
But for a one-off flight, I doubt that a CTI N motor on a balloon is more expensive than a custom made S motor. In the attempt this OP asks about, you would have a normal hpr rocket on an N motor. That may cost you $2500 for the rocket, motor, reload, and electronics. (It will basically be a slightly modified 4 inch altitude attempt rocket.) The balloon system may double the total cost, and add about the same amount again for logistics and transportation. How much does an S motor and airframe, not to mention launch tower, cost? I am thinking about the metal airframe, welding and machining the metal parts, the propellant alone which must cost a few bucks per pound, and a massive recovery system ($500 in parachutes alone.) Transporting a large rocket vs. a small rocket alone is going to double your transportation costs, not to mention a huge launch tower. Get ready for a Uhaul box truck at least or in the case of the Go Fast rocket, a custom painted winne. We know that the Go fast team spent more money than they had to, as the CSXT had some much cheaper attempts in the past, but even a bargain S motor flight is going to break the bank. How much did the OuR project cost, way back in the 1990s? I think it was around $30,000 iirc.
Back to the rockoon costs, how about all that helium? Well let me be conservative and say that we need to lift about 160 lbs for this attempt. That calls for 2500 cuft of helium, at a cost of less than $500 if my source is correct. So far this is not looking so bad...
I think the rockoon should be doable for about $10,000, and that is about as cheap as I would hope to get space, short of some really well designed N5800 to N5800 to N5800 flight. Or perhaps a really slick P to N flight would work also. But delaying for tens of seconds before staging adds lots of complexity.
Cost does not seem to be the problem with rockoons - it is more about the legal and technical challenges.
Rockoons are very difficult to pull off. Despite what has been said above, no hobby team has EVER launched a rockoon to space, and I would go so far as to say no team has ever had a fully successful large rockoon launch either. (JP aerospace has been doing it with small rockets.) All the more reason to get it right some day, imho. "For me the action is the juice..." sort of thing.
I hope the OP does attempt this, but only after carefully considering the legal issues. Do it legally or not at all.
PS you talked about going with Bonneville - the salt flats are very large, but are also within 50 miles of a major city - SLC with more than 1 million people in the metro area. I think Reno is 70 miles SSW of the lowest portion of the "Y" of blackrock, and is significantly smaller than SLC. The mesa is smaller than the salt flats, but the area around blackrock is also empty for many miles and suitable for rocket recovery (no giant salt lakes for your rocket to fall in.) The most important thing to consider is how far will the balloon drift and in what direction. If it could be predicted, I would consider launching at a different site and having it drift over blackrock. Only when it passes over the launch and recovery zone do you ignite the rocket. And if it never drifts over the right zone, you cut-down and try again. That should make the FAA feel better. Additionally, you would cut-down if various altitude or attitude goals are not met.