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I am very new to 40k and I'm having trouble with working on a list, I have the Chaos from the Dark Vengeance Set,The Crimson Slaughter Expansion pack, I also added 20 extra cultists, a sorcerer, 10 man Chaos Space Marines, 5 possessed and 5 warp talons, and I'm lost on what marks to give I'm afraid to have to points be too much because I feel my army is still very small.
Some advice and tips are greatly appreciated!!

There is going to be a new awesome rules edition soon (the 8th) where everything changes and these units will have different rules and point costs that now.

Right now you would need the Traitor Legions suppliment but the new edition will invalidate that book.
With just the codex you can make something like this:
You can have the DV Lord count-as Typhus, CSM count-as Plague marines and Cultists as Plague zombies thanks to Typhus. So even though your army is slow they can sit on some objectives.
230 Typhus
240 Plague marines 2x5
180 Cultists 2x20
100 Helbrute
750 total

so would it be better to just wait until 8th hits?

For now you can do something like that
(DV Lord as Typhus, CSM as Plague marines)
230 Typhus
240 Plague marines 2x5
180 Cultists 2x20 (become zombies for Typhus)
180 Warp talons of Nurgle x5
100 Helbrute
930 total
Plus meltaguns or plasmaguns on these marines, power fists, etc. for 70 lefover points

Welcome Slyrman. First off, nothing wrong with small games. 400-500 point Combat Patrol games (http://www.adepticon.org/wpfiles/2017/201740Kcp.pdf) are a lot of fun.

Right now, I would suggest buying absolutely nothing until 8th edition comes out in ~3 weeks.

For the time being, the general thinking is that right now, the chosen from the DV box and the Warp Talons are pretty terrible (or at least over-costed). I don't have points in front of me, but here's how I would put your list together.

Combined Arms Detachment (Maybe Word Bearers ?)

Dark Apostle (using the chosen with the Power Maul)
20 close combats weapons + pistol + 2 flamers
All with Mark of Khorne

3 Chaos terminators w/ combi melta + power fists or chain fists.

1 Land Raider
Put the possessed, and chaos lord in the LR on turn 1. I like Mark of Khorne on mine so that the possessed get 4 attacks each on the charge.

Run the Warp Talons as raptors with maybe 2 plasmas guns or multi-meltas.

Stick the sorcerer with either the 10 CSM or the remaining cultists (with autoguns). Up to you on how you want to use him. Since it sounds like you don't have any daemon models, summoning (or anything in malefic daemonology) is right out. I would probably go level 2 (unmarked) on Telepathy (fishing for invisibility) or Geomortis.

Tactics depends a lot on how you want to run your army. Nothing, outside of your Warp Talons, are very fast, and you don't have a lot of long range shooting. Probably want to hang out at mid-table and charge in with the Dark Apostle + cultists + drive up the land raider and charge straight into assault with the possessed and the Chaos Lord. Have sorcerer + culists or CSM, camp on objectives and let the sorcerer do his thing. Deep strike in the 3 terminators behind some really hard target and take it out with combi-melta and clean up with the power weapons.

Slyrman wrote:
so would it be better to just wait until 8th hits?

Yes. The new edition will be on pre-order June 3 and available June 17, along with the new books that detail what your chaos models/units do.

Just wait a few weeks and paint your models in the mean time.

I forgot to mention that all my models are painted towards Crimson Slaughter and I was also planning on getting the new box set as well since I could add the Chaos side to my army.

Welcome.

Wait until 8th hits twiddling your thumbs but don't preorder the box set. The models are very cool but you want to wait and have a look at the rules (free online) this means you can choose what God to affiliate with / what legion to play and buy what fits with your army.