Hello and welcome!
Sounds like you need to read a book, I suggest the New Marine Aquarium, by Michael S. Palleta, very very easy to read and understand. Also The Conscientious Marine Aquarist, by Robert Fenner, it is very very good, but a little heavier read.
Now for your questions and a few suggestions.
1. The powerhead sounds like it has a hose on it that sticks out of the water, this is sucking in air and causing all the bubbles, take this hose off and the bubbles will stop, but the powehead will continue to push water. You will more than likely want a couple more of these, water circulation is important in a saltwater tank .
2. The fluval can be a decent filter for a saltwater tank, but you will have to be diligent about cleaning it out regularly.
3. With the water from the store, is this saltwater that you are buying or plain water (more than likely RO). If you don't know you need to find out, When you are just adding water to your tank because of evaporation, then you add plain RO water (salt doesn't evaporate), but for your weekly water changes (about 10%) you need saltwater, because you remove saltwater from your tank, then replace it with fresh saltwater (this takes out the bad stuff in the tank and replaces trace elements).
4. You most definetly need more LR IMO around 55lbs or so, if you cannot afford to buy a large quantity (look at this site, very good price). Then get some baserock and seed it with LR.