Purchase the lumber from Black Forest and consider renting some time at this place:
https://www.fuse33.com/ I haven't actually rented any time there as I own most of the tools, but it looks awesome. If that's not an option, pay Black Forest a few bucks to prep the lumber to your liking. Just explain the project and what you need from them. They seem intimidating at first, but they are really helpful guys.
I've looked all over the city and Black Forest is the best by a mile. Most other places sell lumber that hasn't been properly dried yet which will bend and warp like crazy. Super frustrating.
To properly do a table top, you are going to need access to a planer. Period. Even the S4S stuff won't be perfect. Sanding it down sounds easy, but it's hours upon hours of work and never turns out perfectly flat. Plus, sawdust gets everywhere, including inside your lungs. A jointer is really nice, but similar results can be achieved with a table saw and a high-end blade.
Watch a bunch of videos on how to do a breadboard end. It's a pain, but our crazy weather swings will demolish a tabletop without it.
My last piece of advice is to embrace the "rustic" look. This look was invented by hobbyists who were tired of trying to make everything look perfect.
Above all else, just go for it. Woodworking is great fun and I find it very relaxing (outside of the cursing at mistakes). Even a half-way decent table is going to last a few generations and will look 100 times cooler than the Ikea junk your buddies own.
Good luck!
PS - Someone should start a woodworking mega thread. I've hacked together several pieces of furniture and learned a bunch of lessons the hard way along the way.