Schipo,
This will be his first ever vinyl rig. Why would a novice understand MM, MC, LOMC or any other acronym? Belittling someone for lack of knowledge, when knowledge is what they came seeking, isn't helpful.
Good research by Amater.
Oak244,
Some cautions about buying a used vinyl rig (not to discourage, just so you get what you pay for with a greater chance of it working).
For used rigs, consider buying from a local seller (so you can see/hear it working) or from an Audiogon seller with solid feedback. Buying used vinyl gear from some distant seller on ebay is riskier. Many perfectly honest people do not understand how to pack a turntable/tonearm/cartridge properly for shipping. A collection of loose parts that used to be a turntable will not play your LP's very well!
Used cartridges are a crapshoot. Sometimes they work fine. Sometimes they don't. This is partly because cartridges are a consumable. Many turntables and tonearms will work forever, but no cartridge will. They all wear out, and if you don't know how many hours are on one it's a guess as to how well it'll perform. (A knowledgeable expert could possibly assess, but that gets involved and might cost more than it's worth). Further, cartridges are fragile and easily damaged. Don't be surprised if you have to buy a new cartridge for a used rig. Many people would say it's advisable, since a worn cartridge can destroy your LP's forever.
If you do replace the cartridge, I'd recommend starting with a moving magnet (MM) type for simplicity's sake. That's what your Yamaha was designed for (per Amater's post) so you would have no issues of impedance or gain matching (which can occur with some other cartridge types with basic phono stages like yours).
Vinyl is decidedly not plug and play. At a minimum you must check the downforce the tonearm/cartridge will be applying to the record. This requires some sort of scale or balance. It needn't be expensive, especially for entry level gear, but not doing this would put your entire record collection at risk. If Vertical Tracking Force (VTF) is too low, the stylus won't maintain steady contact with the groove walls. This is the fastest/surest way to destroy an LP. If VTF is too heavy, the sound can be dull and you'll wear out your catridge's suspension (and the LP's) a bit faster.
Lots to learn, but first enjoy the music,
Doug
