ilovefuzz.com

First: cheap acoustic guitars are like opening cans of worms.

Second GO TO THESE SITES NOW

http://www.frets.com/

http://www.mimf.com/

There are tons of info on these sites as well as very helpful people some of witch are real pros.

As for getting the finish off I stripped a Double bass once with that eco safe type of finish/paint remover [can remember the name, come is a tub at hardware stores... If the top is plywood messing with the bridge might be a nightmare.

More resources , parts, supplies ect.
http://www.stewmac.com/
http://www.lmii.com/

May the fuzz be with you one your adventure

The ONLY thing i would do is basic setup and dress the frets. So that means check the neck and do a truss rod adjustment only if it needs it. This is also a way to really screw it up if you dont know what your doing. Raise or lower your bridge acordingly for how you like it. New strings and maybe new tuners if it doesnt stay in tune. Do not get sucked in to a refinish. This guitar isnt worth the box they shipped it in