I first started the guitar because my Mom enrolled me into a program at school. This was more of a public class, than private. I moved to another public class after that, then 3 years later I had a private instructor. I think if you are just starting to learn, a GOOD teacher is a good investment. It's one thing to read something on the internet and try to apply it, but to have physical help is way more beneficial. A guitar teacher will not only show you how to play, but he will always be right there with you to quickly correct any mistakes you make and help you to avoid picking up bad habits.

As far as theory goes, my guitar teachers never really focused on that. It's the 1 thing i regret about my instructors. Learning theory is a lot easier if you learn as you learn to play the guitar. Now I am having to go back to basics and learn theory on my own, which is a lot harder.

So I recommend that you get a guitar teacher that knows what he's doing, and can teach you theory as well. Even if it isn't for a very long time, you will learn a lot during the time you do have him available.