Good info, but he needs to do his research...most of what he asked for is something that has been answered tons of times. Seriously use the search function. Also if 1-2k in parts(and labor) is too much for you right now, don't do it.

Big question you'll have is, why not?
Answer is pretty simple, when you start modifying the car you are also putting strain on other things in your car, camber arms, sway bar end links, compression rod bushings, possible scrapping damaging your exhaust, increased(sometimes) cost of tires, needing to get the alignment done, and so on.

So when you lower your car expect the worst(and when doing any mods) and set cash aside in case something happens.