Grease?
 

Im pretty new to this stuff, should I be using a specialized grease, or can I go to the hardware store and get any type of bearing grease?

Pretty much any NLGI 1 waterproof grease will be sufficient for bikes.

Yes.

Any water proof bearing grease will be fine. Go to the auto parts store, get a can (1lb?) it will last for years. Or you can use outboard lower unit grease, or trailer bearing grease.
My wife thinks that a tube a Park grease is special stuff, so she buys me a tube every year as a stocking stuffer. I have a few lying around.

Whatever you use, use it sparingly.

It's far more about the frequency of maintenance then which compound you use. The above advice is good. Andy

Thank you! It will be nice to save a few bucks that can be applied somewhere else!