The descriptions of the work involved are spot on - sounds more complicated than it will be in reality.

Re tools though: if you like having the right tool for the job then yes there are a bunch of speciality tools you could get, but I have been wrenching on bikes for over 50 years now (yikes!) and for the first 35 of those the only specialty tools (beyond wrenches etc) I had were a chain breaker, a spoke wrench, a freewheel remover, and once I got cotterless cranks a crank puller. Everything else was just stuff most handy people have.

Having said that specialty tools do indeed make life easier, but if you are concerned about cost for the renovation you don’t have to buy too many, and in fact you can probably get the local bike shop to remove your freewheel and/or crank for free if you ask nicely.

The only tools I wished I had had earlier were cone wrenches (those thin flat wrenches for wheel cones) - I spent way too many years futzing with regular wrenches considering how cheap they are.