RE: What to buy
You will need all of the building tools normally required to build from a kit like the Great Planes PT-40:
-covering iron, trim iron, heat gun
-building board/building table
-t-pins and/or small wood clamps
-drill, screw drivers
-exacto knife, hobby saw, scissors
-adhesives such as thin CA, thick CA, 5-min Epoxy, 30-min Epoxy, and wood glue
-masking tape, marking pen
-several rolls of various colors of Monokote or Ultracote
-protective 1/4" or 1/2" foam, velcro, rubber bands
-yardstick, tape measure, builder's square
-CA or Robart hinges, hinge marking jig, hinge cutting tools
My advise would be to buy your kit and building supplies first; then worry about your engine and radio equipment only when the plane is almost completely finished.
Good luck and good shopping!