Originally Posted by Lewis Yelin

The friend (ahem, me) needs a 48-51cm frame, and there are very few used bikes being sold in that size. The ones that I saw and would consider are asking $1,500-$3,000. Even with that as a bargaining starting point, the question is whether I'll be able to build one myself for less. Cost aside, I agree that the biggest impediment is waiting to find parts. Though I have some suboptimal parts that I could use (like wheels) until something better comes along, I'll definitely need to get the drivetrain, and I've not seen many acceptable drivetrain parts advertised in the last many weeks I've been looking.

Thanks to you all for the advice!