If you have a good jig and steady hand a power drill will work, but again, you dont have to worry about it since you are in Texas.
A Caspian Foster frame will be what you need.
But it is only worth it if you want to do this for the experience and to be able to say that you built that gun. It will be super difficult to get all the parts and tools cheaper than buying a GI spec (especially a used one).
Invest in a good caliper. For frame to slide fitting that will be the most important tool.
Also get a Jerry Kuhnhausen 1911 Shop Manual vol 1 and 2 books. At least vol 2.
You could buy a kit mentioned above for all the parts or buy parts “one at a time” as you build along.
My process is as follows:
- Inspect the frame (much more important for 80% than a Caspian) for symmetry and spec.
- Inspect the slide. Slides can be “defective” even when you buy from reputable makers pretty often.
- Measure the slide and fill out a worksheet like this one :https://www.matrixprecisionparts.com/s/1911-SLIDE-FITTING-rev.pdf
- Messure the frame and fill out the worksheet.
- See which dimensions to address. Shoot for .001" clearance.
- Test fit the barrel to the slide. Check for locking lug engagement, bushing fit, etc. I prefer to use gunsmith fit barrels, but if you go with a “drop-in” it may be easier.
- If the slide checks out, start reducing the dimensions on the frame rails to match the slide.
- Fit the frame to slide. Better to not lap, but a couple of back and forths with a very high grit lapping compound will not hurt. (I am talking 1200 grit).
- Assuming the barrel is drop-in, verify the link size is good… hopefully it is, but I don’t use drop in parts… you do this by performing a modified Schuemann Timing Test. (I can explain this in detail later)
- Test fit grip safety and thumb safety (thumb safety has to be NEW). Grip safety must be able to touch the rear wall of the frame with its bottom.
- Test fit the trigger. If drop-in and it fits, good, if not, fit the trigger pad to the frame (top and/or bottom of the pad, making sure the trigger bow is staying horizontal)
- With trigger installed, fit the grip safety to the rear of the trigger bow if needed. The grip safety must be able to move its trigger stop arm behind the trigger bow from fully engaged position with the trigger all the way forward.
- Install the sear, disconnector and hammer. Make sure the disconnector head can move freely up and down in the frame. I assume you will be using a drop in set.
- Fit the thumb safety to the sear with cocked hammer.
- Assemble the rest of parts and test the function of everything using snap caps.
- Address any issues.
- Recheck and repeat until everything is 100%.
- Test fire with 1 round in the magazine. If something doesn’t work, stop and find the issue. Fix, repeat the test. If gun fires, round ejects and slide locks back, check the gun over and if everything is good, proceed.
- Test fire with 2 rounds in the magazine. Same thing as above.
- Test fire with full 7 round magazine. Same thing as above.
- Finishing touches.
Sorry, this is assuming you go for drop-in parts. That means a whole lot of hoping that they are all in spec.
Better to take it one step at a time, ask a lot of questions and not to hurry.
Hope this helps.
P.S. get the books first.