i have built 3 ars in the past half year or so. first one took an hour and a half (was real carefull) the rest took an hour each. i use a varity of common tools (punch, needle nose pliars, normal hammer, ect) i find some electrical tape comes in handy. you dont need any special tools, the avrage guy has all they need. a few tips are nice,
1. put tape on the receiver around the bolt catch, cause thiers a chance you will ding it putting the bolt catch pin in.
2.when installing the trigger guard pin, rest the receiver on wood, cause its possible to crack the receiver if you dont(you will see what i mean)
3. any smaller sized punch will work to build it, but a set including some smaller ones is required to disassymble.(punch set was the only thing i bough to do mine, about 20$.)
4. be carefull with spring parts, the springs like to get away on you.
5. if you have any questions during build, you have about 1000 obsessed ar15 nuts at your disposal
if i were you, i would get a RRA lower and a JT kit. even if you still buy a punch set, you will save plenty-o-cash