Wow, first time I've seen somebody take a go at a frag tank in the opposite direction. Usually they start with a reef tank and grow their own corals out before starting fragging
My first thing to point out, is that unless you have a lot of money to drop at the start for corals, getting a fragging setup going is going to take years. Colony sized pieces that are worth fragging can cost upwards of $200-$300+ with very little difficulty. Quick growing coral can take a year or more to reach the size that they are worth fragging if you start with a small frag while slower growing colonies can take significantly longer.
That being said, here are my responses to your questions.
1 - Sounds like a good size to me
2 - Maybe, it depends on the corals you want to frag, size of the powerheads, and how much stuff you will have in the tank.
3 - Taotronic Ebay LEDs are pretty standard affordable lights that can grow pretty much anything. There are 4 main groupings of corals atm. Softies, SPS
, and non photo synthetic.
4 - Live rock, powerheads, and a skimmer
5 - I grow softies, LPS
, and SPS
in my 90g tank. I have about 80lbs of live rock, 3 powerheads giving me around 35x the tank volume per hour in flow, 240w of LED
lighting, protein skimmer, UV
Sterilizer, and a 29g refugium growing chaeto and 3 types of caulerpa.