Why?
Yes, you can, but it is a lot of work.
As far as knowing what you would need...If
you have to ask you are not ready to build one,
sorry.
You can get a minimal distribution and
build atop it, thats what I would suggest you
do if you are unsatisfied with the current
offerings.
I don't mean to sound harsh: Often I customize
my installs so they are not totally SuSE anymore.
Most power users do, after awhile, get irritated
with the extras.
I've heard that slackware is good as a base.