Light weights and more reps helps you to burn fat. Heavy weights with fewer reps builds strength and mass. Remember to alternate between the two so that you will burn fat and alternately build mass.
As far as beginner bodybuilding, you should keep your routine simple. Workout 3-5 days a week. Get eight hours of sleep a night, and eat as much as possible.
Work at this slowly, building up, eating well and find a routine that you actually enjoy. You don't have to spend a lot on expensive equipment to start with.