Hi sachinmb,
You can sign up for lessons if you click on the link below:
Subscribe
Regarding how you should start practicing, start with the righthand exercises and lefthand exercises from Module 1 and Module 2.
Module 1:
Picking exercises on 1-string, 1 note/beat and 2 notes/beat
Module 2:
-Do the classical form this will help you a lot with develloping a good position of your left hand.
-Spider exercises
-Ladder exercises
The below link shows you some free lessons which helps you to start:
Free Lessons
Well on what type of acoustic guitar you should buy is all depending on your budget and how serious you are and what type of music you will going to play. So this is difficult to answer. But if you going to buy stuff your bigest friend in the above exercises is a metronome those are very cheap of even for free on the internet as an app on your phone or tablet.
USE THIS METRONOME, it is really important.
You will not regret it to subscribe follow Pebber's advise and you will see soon progress.
Good luck I hope to see soon a video from you
Grtz Ray