There is no requirement for a log. HOWEVER, If you wish to submit for a repairman's certificate, you must show evidence that you manufactured 51% of the aircraft.
Now, this is how it really works.
Builder logs are nice (lot of photos) for documenting things, especially weird things. I use my original builder photos to review how I did something, or figure out where a pipe or wire is routed, etc. I kept a spiral bound notebook, and tried to make an entry whenever I worked on something, the date and time.
With the advent of the Internet, my web site also doubles duty as my builders log. (retrofitting / overhaul)
If you look at my web site,
www.iflyez.com, there is an area at the top called Watch Waiter Work, with a thumbnail and a couple sentences of text. If you click on the thumb, it connects you to the network camera located in my shop. The Text is a couple sentences describing what I'm currently working on.
Now, the neat part. Whenever I start something new or different, I enter the enter my comments into a program I wrote called NETWEB. This program runs 24/7 on my shop computer. This program uploads a current Thumb AND the text to my web site. It also records the text, along with a full size photo taken from my Network Camera, on my shop computer.
PRESTO, real time builders log.
Take a lot of photos, A 2 megapixel camera can be had for under $100, and do an extraordinary job of good quality photos.
Good Luck
Waiter