Disclaimer: Don't take anything in my post or on this forum as actual legal advice or legal doctrine, these are solely opinions expressed. This is marginal legal advice: for advice you can stay legal on, contact your local ATF department/branch and always ensure you're in compliance with any additional state/local laws in effect.
With that said, here's my legal understanding of 80 percenters:
From 0% to 80%, in the eyes of the Federal Government, it is not a firearm, it is a paperweight. It can be sent in the mail with no special provisions or services and can be transferred freely, just like buying a gallon of milk or transferring a pack of gum to somebody else. When the part in question goes from any place above 80%, it is now considered a "firearm" by the Feds. That means the second some machining or processing (or anything) is done to the part to make it at 81% or closer to final design, it is now deemed a firearm. If this weren't the case, you'd have companies selling "99 percenters" rather than 80 percenters.
Furthermore, you may buy a part that is 80% or less of the way there, but only you and you alone can take it from 81% and onward to the full 100%. So long as you are the only person taking it from 81% to 100% and you intend to keep the gun, you may make one of each type/model of gun per year for your own personal ownership and use so long as you're not building it with the intent to sell. There is no requirement (at least on a Federal level) to put a serial number or any markings on the gun at this point, so long as it's for you to own and use and it's not being sold.
Now if you've built an 80 percenter and someday down the road decide you want to get rid of it by selling it, it is required that you serialize the firearm and do the private transfer through a FFL dealer (with the buyer getting a background check, doing the 4473, and the gun's serial number getting recorded on the third page) -that way Uncle Sam now has a way to trace the origins of the gun that has now "entered circulation." Along with adding a serial number, Uncle Sam requires that you also add what all gun makers must put on their firearms -place of manufacture, manufacturer, model, and serial number.
End notes:
Keep in mind that the laws that allow private individuals to manufacture their own firearms for their own uses and ownership were written in a time before CAD programs and CNC machining technology. In the ATF's eyes, this provision existed for that old timer that wanted to make his own single-shot breach-loader. Nowadays with gun designs like the AR15 and the machining technology making it easier, it has allowed for us to take the provisions in this law to heights and levels that had never been dreamed of before. I love that we can do this and I hope it never becomes illegal, but just know that you are doing something that was never really intended to happen and that when you get pulled over with a gun without a serial number, it'll make the cop wonder who you are and what you're doing as they've been trained to look for guns without serial numbers. This shouldn't stop you in exercising your rights, but just know the extra "bonuses" you take on when you make/own 80 percenters. It's kind of like NFA items. Back in 1934, having to shell out $200 for a NFA item/gun was a LOT of money for the average American, and they did it that way on purpose to intentionally limit how many people were out there with NFA items/guns. With the passing of the decades, $200 is still a hefty hit, but it's nothing compared to what it meant back in 1934, so again, we're taking advantage of something that was really never intended to be a common option.
Lastly, make sure you are the one finishing up the build. By the letter of the law, if you receive any help taking it from 80% to 100% (or anywhere therein) you are doing something illegal on a Federal level, and of course that's not a good thing at all. Consult your local ATF office for questions and good luck!