Best gunsmithing book for 1911 is Jerry Kuhnhausen's set...just search under his name and you'll come up with a couple of websites.
He has a Volume I and II for 1911 custom work. They are both about $30 each plus shipping.
The problem with customizing your own is that unless you have all of the right files, tools, calipers, micrometers, emory papers, gadgets, etc....you end up spending as much or more money than buying a Les Baer. However, there IS a lot of satisfaction in the finished product...and each subsequent pistol is cheaper since you are not having to buy everything.
As for a good base gun, you can actually buy frames and slides out of Brownell's. Probably the cheapest way since you are going to want to put in a nice BarSto barrel, nice trigger, nice hammer, killer sights, etc. Would suggest sticking with Wolff springs, which you can buy a complete set fairly cheap. Personally, I like their 18.5lb variable strength recoil spring on my 5" Governments.
Good luck! Have fun...it will take a LONG TIME to do everything properly (i.e...DON'T USE A DREMEL TOOL).