Well you can get by with standard tools building up the stripped lower. I did anyway, using standard punches, drill bits (for guides and to hand turn in all holes to clear out flash), hammer and vice grips. No vice is necessary. Look at the videos and guides at Brownells and AR15.com, it's easy for anyone who is handy in the garage. Take your time and be sure you correctly ID every little pin and spring and don't install in the wrong place. I'd say wait until last to do the bolt catch, people sometimes try to force the disconnector spring in there. Go slow and you still can be done in 90 minutes or less.
If you're building the upper then you will need a vice, barrel wrench, etc. Most people buy a complete upper to avoid buying tools if doing just one upper. Also it will be headspaced and should be test fired at the factory.