Go at Rodding with the attitude you will learn as you go. You have nothing to loose by trying to do anything. I Rebuilt my first trans because it was there and I had the money for a rebuild kit. I Also had a Good Book. Collect good quality tools and build your Library with every manual you can afford, new and used. Don't count yourself short, half the battle is wanting to do it, the other half comes with experience.
Rat Rods Rule!