Originally Posted by bronko22000

The answers to your question are yes and no. First off no one can tell you what your draws length is. So the bow may not fit you in that regard.
To answer your questions the let off has 2 settings, 35% and 50%. That is the amount of weight you would hold at full draw (i.e.: if your bow is set at 50 pound draw and the let off is set at 50%, you will be holding 25 lb at full draw (50% of 50#)).
The draw weight is adjustable by turning the limb bolt equal amounts.
The string. Get it replaced immediately.
The draw length is adjustable from 30 - 32" probably in 1/2" increments but you will have to find that info online on how to adjust it.
As for arrows you will like need a 400 spine if you're draw length is set at 30" and draw weight at 50#.
Will it kill a deer or turkey.. It sure will. But you need to practice, practice, practice.
You never did say what kind of rest it had or other accessories.
Now to put this to you gently...you should have saved your money and went to a pro shop and likely got a new model bow, used, and you could have had it for a while. I'm afraid you might just get frustrated with the equipment you just bought.