I have about half the rock in my tank that I purchased as live rock, and half that I purchased or found as base rock.
You will have to buy some live rock in order to make base rock "live". the coraline algae and other critters will migrate onto the base rock eventually. This process takes quite some time, so be prepared to stick it out for 6 to 9 months as your base rock becomes live.
As for as the type, it is up to you. The more porous the better. DO NOT use any bleached or chemically cleaned rock. Limestone is good, although not very porous. The LFS in your area may have something more suitable at a fraction of the price of live rock, but you will need some live rock to seed the base rock with.
Also, good water quality and plenty of calcium will make the process go faster.