I've rebuilt a few rods and Aplster is correct in saying that you can damage the rod blank if you're not careful. I would not be discouraged though, because you sound like you want to learn this. I would suggest using a rod you don't use or care for anymore and experiment/practice on removing and installing guides on it, then try splitting the grip on it. If you don't have a rod that you can do that to, then you can pick one up for around $10 at Wally World and use that as the ginnea pig.
Just a thought.