The very first thing I would do is read the Going Sub 3.0 by W racing post in the (Ask The Pros) section.
Then here is a list of tools, essential to being competitive that you will have to get in due time. Some you may already have and others you may not.
1.) The Block (for drilling axle holes)
2.) A decent drill press
3.) A band saw or scroll saw
4.) Some type of belt sander
5.) A Dremel tool
6.) A planer if you want to make your own body blanks
7.) A table saw for ripping down the wood to build the body blank
8.) a router for making your custom fit legend boxes for shipping
9.) a best track 42' long prefered or a tunning board( I would get with DG
for some advice on using the tunning board)
10.) Some type of small vise
Or you can eliminate everything if you don't already have most of this stuff except for #'s 3, 4, 5, 8, 9 and 10 by buying a pre drilled body blank from DD4H.
Also a band saw is better for shaping the body blanks than a scroll saw if you get or have a good quality band saw, but don't waste your money on a cheap band saw due the the fact there is nothing more aggrevating than a band saw that you can not keep the blade on. So rather than by a cheap band saw get a scroll saw and use coping saw blades in place of the scroll saw blades. Use a pair of side cutters or lineman pliers to cut the blades to the length you need them and chuck them up in the scroll saw. They are tougher and are harder to break than the fragile scroll saw blades.
You can eliminate # 10 buy buying a pre bent axle with a K house groove when ordering your axles for the DFW.
Hope all this helps to get you started.
We welcome you here, Now lets race.