Wine corks are handy for holding the sanding paper.
The flex shaft attaches to the dremel tool.
Start out with really cheap blades. There have been a goodly number of good blades ruined by a power tool. Pups is right. It takes a very light touch to use a buffer or a dremel. The carpet is a good idea. My area is covered with carpet I got at discount carpet stores.
Follow the advice and use the vids here in SRP.