Before getting too far into mutual funds I`d suggest you think about ETFs. There`s a flavour for every neighbour, but the originals (in my opinion) are still the best. That is, ones having the broadest base possible, and at the lowest cost - an S&P 500 or Total Stock Market or similar.
A lot of my money is trapped in mutual funds. There would be huge capital gains taxes to get it out. But if I was starting over I`d be looking at ETFs for better performance and lower costs. Sure you can find an occasional mutual fund that has outperformed the relevant ETF. The problem is you can't find them in advance.
I'd suggest you pick an asset allocation 60/40, 50/50, 80/20 or whatever else you're comfortable with. Buy a US equity ETF, a US fixed income ETF, and then (a shocker here) an international equity ETF for at least some part of the equity portion. Then check how you're doing every few months, or once a year or so, rebalance the portfolio as necessary and put the paper work away again until next time. There is a very good chance that this simple portfolio will outperform the vast majority of mutual funds.
That's what I'd do. That, or buy an "all in one" (also known as a balanced) ETF having an allocation I'm comfortable with and a very low cost.