Reddit mentions of RIDGID 36345 00-R Exposed Ratchet Threader Set, Ratcheting Pipe Threading Set of 1/2-Inch to 1-Inch NPT Pipe Threading Dies and Manual Ratcheting Pipe Threader,Red/Black

Any bag or bucket will do - it's what you put in it that counts. Something cheap is best, like a 5 gal bucket, since the tools are going to cost you...

The tools I recommend having immediately:

-Hammer (22oz Estwing steel hammer is great, I still have the first one I ever bought 14 years ago)
-Nail puller
-Flat pry bar
-2-lb sledge (if you're doing commercial work you'll be setting a lot of hangers :)
-12" or shorter level (preferably with grade marks - I like these ones
-Set of cold chisels
-Adjustable pliers (some like channellocks, but after using both for many years, I have come to the conclusion that due to mechanical advantages and better engineering, these Knipex pliers are the best pliers on the face of the earth, period. You can get a 3-pack on ebay for less than $100. But you can also just get the 10" ones which you'll use most often for around $30 online.
-"Rat-tail" file and flat file
-4-in-1 or 8-in-1 screwdriver
-utility knife (preferably one that stores blades in the handle and one that easily changes blades)
-Sharpies (or pencils - I prefer sharpies, since they more visibly mark metal)
-12", 8", and 6" crescent wrench. Get something cheap, because eventually you'll want these and they're effing expensive, so you might as well get some basic stuff now, knowing that you'll eventually upgrade when you have about $800 to spend on hand tools.
-5/16" nut driver

That's all I can think of right now....don't get too worried about getting the perfect stuff now, because as you steadily become a master of your craft, your style of organization, tool selection, and approach will gradually become more specific, and you'll go through lots of old crappy "apprentice" tools before you start to have thousands of dollars invested in super-special stuff like this, this,this, this, this, boy I could go on forever. You don't use a lot of stuff very often, but when you need it, nothing else will do. Oh, and pipe wrenches...aluminum Ridgid pipe wrenches.

EDIT: Oh I forgot! If you're doing commercial work and cast iron piping, you'll definitely want one of these.

I'm trying to thread some pipes with a pipe threader like this, but different brand. I think the result is a tad too big. When I tried to screw in a pipe connector, it only got in for about 1-1/2 rotations before it stopped. I could force screw it with a wrench to get a bit more in, but is there a better way to make it work?