Looking to purchase my first AR in 308 this rifle will be for hunting and general use.  Looking for a 16 inch barrel and the lightest weight possible.   Not opposed to attempting a build, although I have no tools so that would be factored into cost.  My budget is ideally under $1,500... but could stretch it out to $2k if it gets me exactly what I'm looking for.  Really not sure where to start suggestions please ??

You should be able to come up with a parts list to meet you price range. I'd check out the Mega MA-TEN thread. It's a lot of reading, but there's a LOT of great info there.
No New Posts The BIG Mega MaTen Answer thread (FAQ covering LPK, Barrels, Bolts, Stocks, EXT) Check here first!

Purchasing a light stock, light hand guard and a light barrel would likely be the majority of your weight cut. They make light BCGs and stuff like that but the price for such parts might not be worth while for such a minor cut in weight. I think the biggest pro to using a Mega upper/lower combo is the precision of the upper & lower and its compatibility with parts. You can use either a DPMS or Armalite pattern barrel. You can use either pattern BCG. You can use AR-15 lower parts, but it is recommended to use a 308 bolt catch (it's bigger and you get more surface contact on the bolt).

One direction to go would be to check out www.rainierarms.com. Check out their Rainier Arms Select barrels in 308. They list the weight of their barrels too. They are supposedly DPMS pattern so you would want one of their DPMS pattern BCGs. If you buy both from them they will check headspace for you before they send it out. They also sell the Mega upper/lower combos.

If you go with an Armalite pattern barrel & BCG then that will cost more for both items. Going with a fixed A2 stock might save you some money, depending on which type of stock you want. I went with the Magpul PRS stock because weight was not an issue ... damn that stock was expensive!

As far as tools go, all you need is a vice, DPMS Panther Claw .308 and a torque wrench from the local auto parts store (for tightening the barrel nut). You could use the wrench then return it the next day. I kept mine because it only cost about $40. When it comes to installing a handguard and/or barrel nut ... you might need one of those barrel nut tools. I built a monolithic Mega MA-TEN so I didn't need to fuss with handguards.

For that budget I would get a Bushmaster ORC in .308 and send the barrel to ADCO to lighten it up.

PSA has them for $1k.

not sure if there this price anymore but I feel it's hard to beat the bushmaster orc .308 at $799 from sportsmans wharehouse. plus you get 10% off if your military.