RE: Advice fixing up my first plane...
All good advice so far. I will add to it by saying most electric starters have a rubber insert [link=http://www3.towerhobbies.com/cgi-bin/wti0001p?&I=LXBC72&P=0]Link[/link] that can be pulled out, turned around, and used on a prop nut. See if yours is the same way. That way, you can decide if you want to invest in a spinner while you're learning to fly.
The one thing I'd also suggest is having an experienced flyer check out your plane before flying it - there may be more damage than you think - you know, an ounce of prevention kind of thing.
Good luck with your repairs.
-MA