[Dave Paine]

Perhaps start by searching the forum for earlier threads. No surprise, you are not the first person to ask this question.

http://www.woodworkingtalk.com/f6/where-start-53053/

 

[Dave Paine]

Other examples of existing threads which may answer your question(s).

One on getting started with pen turning.
http://www.woodworkingtalk.com/f6/pen-turning-getting-set-up-19260/

I just remembered Sawdustfactory made a tutorial thread on turning pens.
http://www.woodworkingtalk.com/f6/pen-turning-tutorial-promised-36199/