Do you have access to a club that has someone that can train and help you fly this plane? If so, you may want to check with that person to see what radio system they recommend (you may be able to use a buddy cord). Likewise, if you will ever need parts for your radio, find out what parts your local hobby shop offers the most of.

I think that the hobbico superstar would be a nice flying plane. The OS 40 LA is the smallest recommended engine for this plane which I think is ok. You want to fly slower to start out. Some pilots like to have the extra power available.

The plane is $279, and you will probably spend another 75-100 on accessories, tools, etc. You also will need to get AMA insurance and should join a local club with a flying field. My AMA is $58 per year and my local club fee is $55 per year. If you are in a rural area, you might fly on some farm land and not use a club field. I do not recommend trying to fly without instruction. The majority of the people that try this crash their planes beyond repair.