+1. That bass is probably not good enough for firewood.

The minimum you will need to spend for a decent new instrument set up properly is about $1500. There are no shortcuts; there are no exceptions. Cheapo basses turn out to be far more expensive in the long run. Even if you pay all the extra $$$ to modify them and maintain them, you end up spending more than you would have to begin with for a far better instrument. Then there's the implosion risk.
Read over the newbie links. They contain a wealth of information. Then c'mon back with questions. Most of us are happy to help.