I started this build as an alternative to the FlexRC Owl DIY kit which retails at $242. I also had a lot of the parts laying around from other aborted builds and couldn't justify buying a full kit. I went with a cheap glass fiber frame for a couple of reasons. Mostly I didn't want to fork over $75 for a frame (I'm cheap) but also, I figured the slightly larger footprint would give me more build space. Following the recommendations online, the frame is oriented with the thicker plate on top and motors mounted downwards with inverted props. It kinda plays with your head a bit when you're building it out.

The flight controller is a Dragonfly 32 Micro that I originally bought from Multi Rotor Mania. I started with a CC3D but quickly got frustrated (again) with it and went with this one instead. The DF32 Micro no longer shows up on the MRM site but I managed to find it at Team-Legit. It's basically a flip32+ with baro and mag packed into a small but non-standard footprint. This means you have to get creative with your flight controller mount. I used Scotch exterior mounting tape. Haven't flown it yet so no results.

The ESC is a Ready To Fly Quads 12 amp 4 in 1 HV ESC with SMD Capacitor (no need for external cap). It's a bit of a tricky board to work with. The battery tabs need excellent soldering skills and one corner is really tight by the mounting hole. I was forced to shave some plastic off my hex spacer to get a proper fit. In the pictures it's the column with reversed color spacers. I made the cable to the flight controller using a plug and play connector kit from RTFQ. it included everything I needed for about 5 bucks and lots of leftovers for other cables.

Motors are DYS 1306 4000KV motors with Dal 3045 props. I've had good experiences with DYS motors so I went with them. In hindsight I probably should have gone with a smaller motor or the 20 amp version of the ESC. In online thrust tests these motors have been shown to pull more than the advertised 12 amp rating. I have some cheaper motors I can swap over and put these on a 150 x frame (future build). One thing I will note is that early in the build I did a test of the ESC with the motors mounted directly to the frame and it was really noisy. I coated the mounting areas top and bottom with several layers of liquid electrical tape making sure it went through the mounting holes coating the edges. Later spin tests were much quieter. I don't have sensor data from before so no idea if it's a usable means of soft mounting.

For FPV I'm sticking with an AIO setup. I have the TX02 listed which has a Raspberry Pi heatsink installed and weighs roughly 5.2g I also have a TX03 which is right around 4.9g and a DVR03 which is about 5g minus microsd card. I also have another small kit that is a bolt (tape) on kit which powers off the 3S balance plug. It's a fiberglass frame so RF isn't an issue with an AIO tucked inside the frame. Some clever tricks with mounting tape and I can even give it a tilt.

Finally the receiver is a Redcon (Lemon RX clone) satellite receiver wired direct to the flight controller's Spektrum port. I fly with modded Turnigy 9x and OrangeRX module and this receiver binds right up by issuing "set spektrum_sat_bind=9" followed by "save" in the CLI. After reboot, power off everything, leave battery disconnect and plug in the usb port. the receiver starts flashing rapidly. Power on the radio in bind mode and voila. Settings in Betaflight are serial_rx and spektrum2048.

EDIT:
I ran a couple packs through it and I gotta say, I like this one better than my 250. With a Floureon 3S 1500 mah 35C battery and Polaroid Cube 1080p camera, take off weight was 360 grams. It's definitely spirited and responsive using the default beta flight settings and a blast to fly. It is a little difficult to see orientation but I'm going to fix that with some addressable LEDS and maybe some colored electrical tape. Since it has the baro and the mag sensor, I might throw on a tiny GPS and activate GPS and altitude hold. The new ublox 7 series are only a few grams.

Here's some unedited video of the maiden flight and a couple additional packs.

Hoot 122: http://www.youtube.com/playlist?list=PLzeX2er47KXgWqIFXttf01dgy1iz2oZ0V

Enjoy.