Hi all, new member here from Australia. I spend most of my fishing time catching Australian bass and some of our smaller salt water species. 
I’ve been considering getting into rod building for a few years and have decided to finally take the plunge. I’ve had some nice rods built for me on Northfork composites blanks and have a real appreciation for the craft. I’ll be starting with making some light spin and baitcaster rods and potentially some BFS rods eventually, but who knows from there!?

I’ve been watching some YouTube clips and learning whatever I can online, but would love some tips and advice about where to start and what I’ll need. I assume a rod lathe is required? 
Any tips, links or resources would be much appreciated in advance.

Take a look at the Mud Hole virtual classes.  You'll build a rod to learn the basic process and you'll get a decent hand wrapper, rod dryer, and small supply of essential materials.

I agree with @MikeK go here: (1) Mud Hole Custom Tackle, Inc. - YouTube

A rod lathe is not necessary, nice but not necessary.  I've built a lot of rods and never had one.  I now use the bed and roller stands and thread carriage but no motor.  I used to use a home made V block set of frames + a Flex Coat thread tensioner, and I did fine on it.  Unless you are doing very long wraps turning the rod by hand works quite well.  

 

If you have a drill press it is easy and cheap to make a setup that will allow you to machine your own grips from cork rings using sandpaper, which is is much better than being stuck with factory shapes that may not be what you want, + you can get so many different types of attractive rings.  If you want help on that send me a message and I'll get you the info.

 

 

A cardboard box with v notches and a heavy book for thread tension.  I made reamers from a dowel with a notch cut in the end with sandpaper stuffed into it and chucked in a drill motor.  I made a dryer from a bbq spit motor 50 years ago that I still use.