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You can use your frame or forks and a couple of tie wraps to act as pointers for truing. Granted a stand is easier to work on, but for an experimental or infrequent build it's fine.
With caliper brakes you can replace the pads with a pair of bolts, which can be easier to use than tie wraps.
If your after the rim being centered, to check the dish, just flip the wheel in the stand.
@GoSteady and @M_V thanks for the advice. Want to try building a set for my mtb. Would like to think I won't be completely put off after that and might build more down the line. It's more a case of it being the only bit of bike maintenance I'm not familiar with and want to learn, so I'm not overly keen spend £300 tooling up just in case.