If you gentlemen could help I want to put a wire edge on a bucket rim
and also do the bottom seam. I guess you could say I am trying to build
a bucket would this be the proper tool to use, harbour freight item
41081-ovga?

Yep, that would be the tool to do it- its commonly called a rotary
machine. And the Harbor Freight model closely resembles a real one. Not
sure if it actually works, as that is a common failing of HF tools-
they look a lot like real tools, but sometimes are not.
A real one, of course, costs over $500-
Roper Whitney is the name in new ones.

To learn how to do this, I recommend the book "sheet metal shop
practice" by Leo Meyer, ATP books. Usually you can find one on
abebooks.com for 10 to 20 bucks.
This is the apprentice textbook, walks you thru sheet metal procedures
from start to finish.