How important is it to you to overclock the i7-7700K to the maximum?
How important is it to you to have a quiet pc?
How important is it to you that your parts stay clean?
You have a case with good ventilation so a simple tower type cooler is going to do the job.
I like the noctua new s variant coolers. NH-U12s, NH-I14s, NH-D15s will all do the job, are quiet, and easy to mount.
Because all your intake air comes from one source and is filtered, your case will stay cleaner.
You buy a liquid cooler to be able to extract an extra multiplier or two out of your OC.
How much do you really need?
As of 2/22/17
What percent can get an overclock at a somewhat sane 1.4v Vcore.
I7-7700K
4.9 78%
5.0 59%
5.1 28%
5.2 7%
You will likely run out of safe vcore before you run into thermal limits even using an air cooler in your case.
Liquid cooling is really air cooling, it just puts the heat exchange in a different place.
The orientation of the radiator will cause a problem.
If you orient it to take in cool air from the outside, you will cool the cpu better, but the hot air then circulates inside the case heating up the graphics card and motherboard.
If you orient it to exhaust(which I think is better) , then your cpu cooling will be less effective because it uses pre heated case air.
And... I have read too many tales of woe when a liquid cooler leaks.
google "H100 leak"
My advice, as a first time builder, stick with air.
Two tips:
1. Buy yourself a #2 magnetic tip screwdriver for assembly.
2. While waiting for parts, download and read, cover to cover the motherboard and case manuals.