The 700R4 isn't the easiest Trans to start out with if you've never built one. I suggest investing in a Rebuild/Overhaul video and an ATSG Manual to help you along.
One tool that is needed is the rear clutch spring compressor tool and a good set of Lock-Ring pliers. Other things/tools can be used for most parts. Should replace all the Bushings, Trans Shop will do it fairly cheap.
Dana @Pro-Built can put together a good Build kit for you or other Co.'s
700R4 Transmission Parts GM Rear Wheel Drive
700R4 transmission parts 700R4 transmission kits