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Buy a $350.00 used 30-06 or .308 and cut the barrel down to 20" put a decent 3-9X scope on it and be done with your search. You can only use a 5rd mag anyway when hunting so you could buy a Rem 740 7400 and have a semi auto in a caliber suited to Elk hunting and be into it for less then $400.00
That or roll your own. You can find 160, 180, or 200 grainers. They can be loaded to suit your needs.