To be honest, I suspect that it will probably take me at least a year (if not more) to purchase all of the components that I'll need anyway, so I doubt I'll build it as a pistol first. I would just buy the receiver first to get the paperwork started and expect that I would have my stamp back long before I have everything to actually assemble. Actually, my first step would be to setup an NFA trust and then buy the receiver.
Any suggestions or comments on what lower to look for? I'm a complete newbie here, so bare with me.
I'd build the pistol first before you form 1 it. You don't want to form 1 it and find out that something is wrong with it later.