I have a suggestion...there are several good courses that you can go to for'smithing instruction that I am familiar with:
1) Bill Laughridge's course at C&S
2) Jack Weigands course,
3) John Nowlin's course.
All these fellows are first class 'smiths. The only course that "I" am familiar with where you take home a finished custom pistol is Bill's course, in Fremont, Nebraska. He usually gives the course every September for one week( 8 hours + per day). All hand tools are either brought to the course by participants or ordered in and waiting for you. He shows you how to modify all the parts in the pistol. You practice on the factory parts and then do it for real on the custom part. When you leave at the end of the week you have done it "all" yourself except for any milling. With 6 to 8 participants you might be able to persuade Bill to give a second course in the spring.
At John Nowlin's course the class builds a gun. I am not familiar with Mr. Weigands program at this time.
Unfortunately, with the variability of 1911 formats there are so many possibilities of what to do to correct tolerance variances that it would be very easy to screw up a barrel or frame, etc..
I am not trying to "rain on your parade here" just trying to save you some aggravation. If you are going to go through the process IMHO you should make the commitment to do it right. If that means taking a week off and spending several thousand dollars to do it right that would be a small sacrifice in time and money to have the "knowledge and a gun
." Once you've gone through it you can apply it to any 1911 forever...
From a 'smiths point of view, the time and effort in calls and consultations times 6 or 8 would be overwhelming. Especially taking time away from a production shop which is how you make your living. If you are all in one place, and you have all the parts that you need there with spares, it very much simplifies things. If your working all day doing this "stuff" to take the time after hours to do it as a project would be very time consuming and oppressive
Any other 'smiths out there care to comment here?