Hi Brad, and welcome to the Abyss. As Greg mentioned, pictures of your lathe would be nice to see, and it'll give the rest of us a better idea of the size limitations of it. Plus, we like looking at different types of lathes. I don't think I've seen one like yours.
Beginner tips...
* Get a full face shield if you don't have one already.
* The basic high-speed steel turning tool set from Harbor Freight is a pretty cost-effective set to start with. They are not the best by any means, but they are an economical set to get started with. A lot of us started with that set.
* If possible, meet up with another turner (or a local turning club) to get a bit of hands-on instruction and a chance to watch someone who knows more than you. One or more basic woodturning videos can also be helpful.
* Learn to sharpen your tools. Sharp tools make turning fun. Dull tools will only frustrate you and potentially get you hurt. There are videos available to show you several ways to do it. Most of us use some type of jig to sharpen our tools. I highly recommend getting one.
* Read as much as you can. There's a lot of good information here and on other forums. In fact right now, there's at least one other new turner here on FamilyWoodworking who is asking many of the same questions you are. Keep an eye on the other new guys...they often will ask questions you've not yet thought of asking.
* Speaking of questions, don't ever be hesitant to ask them. There's no such thing as a dumb question around here. We're still all beginners at one thing or another. We will likely have electrical questions for you, so it'll all even out in the wash.
As far as first projects go, a lot of us turned a bonker as a first project. For example, this was the first thing I turned on my mini lathe about a year and a half ago:
Bonkers are great practice, often turned out of scrap 2x material. Another quick and easy practice piece is a weed pot. A weed pot is simply a small pot or vase-shaped piece of wood, with a hole drilled into it (instead of hollowing it out with walls of even thickness. Weed pots are a great way to use up little bits and pieces of scrap wood, while learning tool techniques and practicing form:
Then there is the wide variety of turning kits available. Pens, bottle stoppers, pill boxes, lamp pulls, game calls, and all sort of other projects are out there. Craft Supplies USA (
www.woodturnerscatalog.com) has a lot of different things to try, and many of them are good beginner projects. (Although a lot of very experienced turners turn these items as well.)
The last tip I have is to take all the money out of your wallet and take a couple pictures of it so you have a reminder of what money looks like. Once the Abyss starts to pull you in, your wallet will likely develop a leak (and you'll like it.)