As a very petite woman 5'-1 124 lbs if I start weight training what is the maximum load I could expect to lift based on this?

When it comes to weight lifting, height and weight have very little influence of how much you can lift. Its going to be down to your muscle strength. If you are a beginner at weight lifting any Fitness Instructor/Trainer will tell you to start on a low weight and to gradually build it up to the level that best suits your needs. It is not recommended that you try and lift as much as possible as you can easily damage the muscles in your arms, not to mention the strain you will be puttin on your back.

When choosing the amount of weight to use, the main goal is to lift a weight that is heavy enough so that you reach "failure" (or very close to it) at the end of each set. Failure simply means that you should be struggling by the last one or two repetitions, and should not be able to perform more than the alloted number of repetitions for that set

for example: If you are aiming for 8-10 repetitions, the weight should become very difficult to lift once you reach between 8 and 10. You can then do as many sets as you require, I find an ideal number is about 3 sets.

You should get a weight that can only be lifted between 8-10 repetitions, which is considered the ideal range for building muscle. Also you need to make sure you are getting enough protein, prefferably before and after any weight training you do.

There is a good article(link below) on when to take protein during the day and before/after your workout.

http://www.streetdirectory.com/travel_guide/22989/bodybuilding/how_protein_build_muscles__when_to_take_protein.html

I hope you find this information helpful and remember, dont try and lift as much as much as you find pyschically possible. You can end up with permanent damage to your muscles.

Regards

Aaron