Going to be tough for you to gain muscle and lose fat simultaneously. I'd do the fat burn first, get to a level you are happy with, then work on gaining mass as lean muscle. You can probably work the cardio thing during the fat burning time period though.
That's what I did. It was just easier for me psychologically to do it in phases - fat loss, then a basic strength foundation, then the more advanced stuff. Plus it's easier running, biking, and doing calisthenics like push-ups (especially on your joints) when you're not lugging around an extra 50 pounds of fat around :biggrin:
I know everyone says you need to doing cardio & strength training together so that you keep your muscles intact & growing, but if you're overweight, it's for a reason, and a big part of that reason is habit - so for me, breaking it down into steps helped me start out with doable new habits of regular exercise & making healthier food choices. When I started, I couldn't do 5 minutes on my exercise bike without getting severely winded - now I can ride my road bike around for hours with no issues.
There's kind of a speedbump you have to get over first...I think that's why stuff like "Couch to 5K" works, because once you get past that tipping point of "I hate this and it hurts and everything is hard", your body thrusts you into a much higher endurance range where you can tolerate doing a whole lot more all of a sudden.