Starting out I don't didn't have much. I still don't, but my list is growing. I picked up pieces here and there. One of the Auto parts stores was changing over to a different brand of hand tools, so I picked up an almost full set of metrics and some other hand tools for $150. Pawn shops have a lot of good stuff too, and you can get for cheep. I have picked up some craftsman at a pawn shop once that was beat, and I turned it in for new.
I would add a flashlight and a section of hard brake line (coil it up and you are good to go) to the list of things needed.
After seeing some of the set-ups others in the club had I figured just a high-lift would be good and I could get rid of my stock bottle jack. Well after yesterday, while it is not the most sexy tool in the arsenal it proved to be very handy, and I am glad that I kept it. We placed it on a spare steel rim (base) and jacked up the axle. Somethings things are more useful than they appear.
"Keep talking. I'll keep analyzing."
"Bad decisions make great stories."
"40's are only to be sold at estate sales." - Uncle Ben
'72 FJ-40 - 33's, F&R Disc Brake Conversation, rear ARB, sliders, Winch.
'96 FZJ-80 - Borla Exhaust, ARB w/ M8000, OME 3" lift, sliders, 305 BFG KM2, 4.88's and ARBs, and usually dog hair.