Too broad of a question. If you want to go period correct, model original correct, the hardest 3 steps, IMO, are: finding the components/parts that are needed, paying for the items plus shipping, and the patience to get through the first two. If you do not have mechanic skills/knowledge, or the proper tools, it is going to be very challenging. If you already have those things, you probably would not have posted the question to begin with.
I rebuilt a late 80's Ochsner road bike in spring of 2019. I have owned the bike since buying it brand new in 1992. I had never done this before and did not have tools or the skills at the start. I purchased a basic tool kit that covered a lot of the maintenance/fixes for bikes, and added to them as the need came up. Videos on Youtube and Park Tools web sites are a huge help. Generous, helpful members of BikeForums were also a huge help, sometimes just with suggestions or words of encouragement, finding or identifying a tool or part that was needed, and the how-to info on the working of repair and replacement.
I was not looking to restore the bike to original, or to be period correct. Ergo, I have a bike that is a combination of original, used that I had on hand, and purchased new/used stuff. I was doing the rebuild to mostly to challenge myself/ I spent more money than I intended to, including powder coating, but I really like the way the bike came out. It is again one of my faves to ride. I had a good amount of frustration, some "AHA" moments, and a lot of self satisfaction. I have learned a lot and have now rebuilt a few bikes. I now do all the work on my bikes.
I say go for it.
Last edited by delbiker1; 06-17-20 at 02:31 PM.
Reason: text correction