How much can you do with Items and Skills?

is it possible to buy an item and get a hero spell that you can level up? Like when you gain a level when you have the hero spell will it let you invest points in it? I'm asking this because i like the whole make your heros spells but i plan on having them dropped. *but that has no relevance lol*

Yes and no. You would need to only level up dummy spells, which do nothing, then have the effects of the spells be completly trigger driven.