then its easy.
get a sawzall, 4" grinder, a good set (not cheap imports) hand tools (just a Rich said, 1/4", 3/8", and 1/2" sockets and combo wrenches), up to 1 1/4" or so (not necessary), allen wrenches (a must for most brake calipers), a good hammer, a good level (torpedo and 2'), angle finder, a 1/2" hole shooter, some good 11R vice clamps, a floor jack and at least 2 jack stands, and a 220V AC/DC buzzbox (can stick weld with excellent quality as well as TIG with the right attachments, which are inexpensive).
IMO, this is a good start. you can do away with the welder, but its hard to do it. Especially if ya need to weld on spring perches or a bumper and such.
To make it nicer, add a port-a-band or small saw to the mix, air compressor with air tools, engine hoist, nice tap and die set (for all those stripped out holes in the frame or what-not), a right angle and close quarters drill, bigger wrenches and sockets (wheel bearing sockets), flare nut wrenches, drill press, big 9" grinder (and the know-how to use it without grinding yourself), some good wilton or bessee 12" slide clamps, and a good MIG welder, not a 110V either. I'm talking about a 220V with gas, something like a millermatic 225 or similar.
You can also add a decent sized press for not much more $$$ as well as a good tubing bender. But, ya gotta have some room to mount and use the bender unless you spend some extra coin on a portable stand with hydraulics.
hope this helps out more
Rob