I would pass on the LA engine (or ANY bushed bearing engine ). A bushed bearing engine will provide power for a trainer that ranges from barely adequate to adequate, HOWEVER, the bushed bearing engine is rarely useable in a second plane.

Get a USER FRIENDLY 46 ball bearing engine such as OS 46AX, Thunder Tiger Pro 46 or Evolution 46NT. By user friendly I mean an engine that is going to run well right out of the box and not require a lot of "fiddeling" with to get to run well. Also, the engine should have a reasonably short breakin time. Even though the price is good, I suggest avoiding Tower engines for a 1st engine. If you get a good one, they are great, otherwise you will be doing a lot of "fiddeling" fixing air leaks, fixing transition problems, etc.

I would also suggest getting a regular field box with a power panel and a 7 AMP BATTERY instead of the "Deluxe Power Starter". Just get the electric starter and use it with the field box. The field box will make it easier to carry all your stuff and the 7 amp battery will provide more "oomph" for your starter. In addition to a "Hot Shot" glow ignitor, I suggest getting one that plugs into the power panel.

You will also need a fuel pump and a package of medium fuel line.

Use OS#8 glow plugs instead of the Tower plugs. Your engine will run 100% better with the OS plug.

As for a radio, I suggest a 6 channel computer radio such as the Futaba 6EXA.

You will probably want/need the sealing iron to remove any wrinkles in the covering and for repairs. You don't need the heat gun.

You will also need a prop reamer and a glow plug removal tool.

The others have covered a lot of the other stuff.