qwijibo said:
I have found a frame of a bike lusted for last year that I could not afford. My question is how much skill is needed to build it up or how much would I be looking at for lbs to complete for me?
If you bought the stuff elsewhere, your LBS will be justified in making some money on your build-up - so just go ask them what they'd charge. If you like it, fine, if not, time to hit the books
Skill to build up - as the aged politician says "Depends".
For starters, I'd never mess with headsets - not that it's difficult, just that it's easier with the right tools and I'd never use them enough to justify buying them (and I have much of a bike workshop in my garage!). Ditto cleaning up a BB - though I'm happy to fit or replace them. Might even wimp out and take it around a local shop to get the steerer lopped down once I have the stem height figured.
RTFM - yes, Read The Flippin' Manual. Park Tools as above, plus the parts maker's instructions. You can download all the current Shimano 'manuals' off their website and, having done it several times, I can tell you that following them is not hard and works. People who toss stuff on and them start randomly messing with screws usually have far too much fun
Tools - do you feel edgy about the best end of a screwdriver to hold? Maybe a bike build is not for you

If you have a decent home/auto based toolkit, you might be halfway there and if you know what they're for, you're in. You'll have to buy some specialist tools - to fit BB bearings, cassette mounting, etc. I also got me a torque wrench a while back - fiddly, I suspect that not many BS mechanics use them too, but I look up all the torque settings myself now. Things like hex keys, common wrenches are not really bike-specific, but I'd recommend avoiding really cheap junk tools - those hex keys that come with the likes of flatpack furniture really need to go straight into the trash after their one-shot job, for one example.
My new frame, I got the supplier to fit the headset - which he charged me for - and clean and prep the BB threads, which he didn't. Nice guy! The rest I fitted myself, and - surprise - it all works.
Wheels - you'd really have to want to, to build your own. That's one area I can stay clear of, though I true my own up. Having once bought two pairs of "bargain" wheels at Performance, I've had lots of practice in that region
Good luck and remember - once you've built it yourself, you won't have to pay anyone to maintain it either.
D