Last summer I did 1.5 acres. Took it from a cow pasture to a good lawn. (good enough) I had a tiller, bought a box, rake, and 26 gal sprayer.
1st, I set the sprayer on the box and did a complete kill,
waited 3 weeks and did it again, RoundUp Pro
2d, moved dirt around with the box until i got it contoured OK
3d tilled it several times. (1st time just a few inches deep, then deeper, but be warned, if you till too deep it can be a real mess, only till as deep as you need to to loosen the soil up for step 4
4th. got out my TSC rake WITH WHEELS and proceeded to flattnen.
It was a lot of work but I still enjoyed it.
I spend money on implements but I still have them and use them now and then. I can always sell them later if I want to but with the prices of steel I may just keep them.
Last thing, I got good seed and got good initial results but this year I have a ton of goose grass, left over seed from all the years of pasture. Now fighting that battle with Gordons Trimec Plus. This fall, will over seed again.
good luck, expect to spend a good bit of $, bw