Paracord pretty much comes in one size, so that part is easy. As to tools, fid, jumbo lok needles, sharp knife or two, maybe a lighter if you are mostly working paracord. Grant shows lots of homemade tools you can copy too. Some clamps and hemostats would come in handy too. Eventually you will want a lace cutter and beveler, pre-cut lace won't cut it for long. Lace prep is a huge part of how you projects will end up looking once done.
Mike