Good questions. In this day and age, I think it highly prudent to spend a little extra to get a smart trainer. I just picked up an Elite Rampa smart trainer that I use with Zwift, and I couldn't be happier. Worth every penny, especially for the power meter functionality.

No, you do not need a separate trainer tire. I've seen some folks say the noise is actually worse with one, and they wear just like a regular tire. YMMV.

My #1 recommendation for you is to peruse the DC Rainmaker website. Outstanding information on all things trainers on that site. Google it. Good luck!