i havent built a guitar myself, but i plan to, so dont take my words over anyone elses here.
if you've got all the machines you could need(saws, routers mainly. buffing wheels and sanders are also helpful) you should be OK.
you asked about truss rods, simply put, they bend the neck. tighter it is, the more bowed it is, looser, less bow. there's a channel in the neck where the rod goes, under the fretboard.
for the neck, if you're doing a set neck, and have not worked with carving curves, practice on scrap, a lot, or buy a premade set neck.
and the most important thing i can say(remember this, for as long as you're doing anything) measure twice(or more!), cut once.