Is someone kind enough to check my preliminary planning?

Hello all, I'm new to the aquatic plant keeping community and this will be my first post on this board. After admiring (online) the planted tanks of others for some time now, I've decided I'd like a low tech (no CO2, no Excel) 10 gallon planted tank of my own. Perhaps adding a Betta later if everything goes well.

Part of my motivation is due to the fact that I've recently been presented with the opportunity to inherit some basic equipment (10 gallon tank, light hood, filter, and gravel), but before I jump completely in headfirst, I wanted to run my proposed setup by this board to ensure that I'm not going to spend a whole bunch of money only to end up with an overly elaborate device to kill aquatic plants.

Now, I do have a very key limitation, and that is budget. I am an adult who has returned to college, so I can't justify spending money left and right. I'm not trying to win any aqua-scape contests, I just want a tank that will support healthy plants and maybe a Betta, nothing more. Basically, I just want something to look nice in our apartment. A secondary limitation, is that there are no pet stores where I live. The closest thing I suppose is a Walmart.

So, I was thinking about a setup based largely on this article:
http://www.sudeepmandal.com/hobbies/planted-aquarium/low-tech-planted-tank-guide/

My proposed setup, following the article as closely as I reasonably can, is detailed below.

SUBSTRATE:
I'm planning on organic potting soil under the inherited gravel. The gravel is about 3-5mm on average.

Iron would be added to the soil via iron pills already on hand (seemingly supported by this post: http://www.barrreport.com/showthread.php/2552-Iron-Pills-amp-my-experiment).

LIGHTING:
The inherited tank comes with a hood that can hold two 15-Watt twist-in bulbs. I've found that Walmart carries some 13-Watt 6500K spiral compact fluorescent bulbs.

PLANTING:
Per the article, extremely heavily, with beginner type plants. Which plants, I don't really know, still in research there. I suppose that would be a topic for a second post if I can in fact get this thing off the ground inside of a reasonable budget.

FILTER:
The inherited filter is an Aquatech 5-15 hang on the back variety.

DENIZENS:
If after several months it appeared that I was successfully not murdering the plants, then perhaps a Betta.

FERTILIZERS:
As per the article. Clearly I would have to order these online.

MAINTENANCE:
As per the article.

MISC:
I'd buy an appropriately sized heater. Especially if the Betta were to come on board.


So, what do you think? Is this a reasonable setup to successfully raise aquatic plants? Can I go ahead and jump in?

Any advice is greatly appreciated.