Bodyweight is good as a starting place, but I think I'd look into resistance bands rather than dumbbells. The idea with strength training is to gain strength, and in the beginning, usually pretty quickly. I think you get more mileage out of resistance bands. After the first couple of weeks, you're not going to have any need for 10lb dumbbells!
"Losing weight is easy; I've done it dozens of times."
(with apologies to Mark Twain).
Ultimate goal: Size 10 clothing.