Check Adv Trac and ABS Light

The check ADVTRAC warning came on with the ABS light and 4x4 high light flashes sporadically. I no longer have all wheel drive. My rear wheels spun on a wet road. I realize I need a code reader to diagnose. My questions are:
-Is this something a moderately handy home mechanic can do?
-If so what kind of reader do I need? Can I get by with one of the under $100.00 readers? If yes please recommend a reader. Where is the ABS plug in?
-If my guess is right and it is a wheel sensor will the reader tell me which wheel and is this something that can be done at home or are there any special tools or procedures needed?
- Anything else I need to Know?

Thank you,
Dennis