Only the frame and fork? Nothing else? I think it could be a good build, but prepare to spend a lot of money. Stuff adds up fast. You need the big stuff like wheels and a crankset. But then you need all the stupid little stuff like a seatpost, saddle, headset, stem, bars, tubes, brakes, etc. Unless you have a good stock of used parts I think you'll be in for a shock.

Starting with a bare frame because it's a "good deal" almost never is. Even if you got it free it'll cost you a lot. Better, IMO, to find a complete bike to convert or a bike that's already FG/SS.