Whoops - sorry beercan didn't see your reply...
Your LiPo charger should say what input volts/amps it needs - use that in the first instance. If it doesn't then the specs I gave you should be okay for a transformer.
LiPos are a little more pricey, but in a trainer the battery you have described should give 10-15 minutes flight time no probs. If you last that long on your first flight it is probably time to call it quits anyway, and let your brain absorb everything it just learnt.
Space sounds okayish - just remember - you will probably need more than you expect - about 100mx100m would be the minimum. As for the balcony perhaps not (at least for now

).
Cheers,
Oz.