I have an Epiphone Masterbuilt in which there is no front peg for the strap and instead you are to tie the strap around the headstock. I really dislike this location when playing and find it uncompartable. I would like to install a peg strap at the juncture where the fretboard meets the body of the guitar and I have a few questions. How would this effect the sound? Is this something I can do myself or should have a proffessional do it? And lastly I'd appreciate any other advice from your expierences regarding this. Thanks.
I've installed many strap buttons on my guitars w/no ill effects that I'm aware of.
As I recall the Masterbuilts have the tailpiece on the neck at the neck/body junction. I'd probably screw it into the bottom side of the tailpiece rather than the guitar body above the tailpiece.. But give it some thought so that you position it so that the strap won't come loose while you're playing. Make sure the strap end has free play and doesn't get binded.
Once you've decided on the location, make a small pilot hole w/a small finishing nail. This will aid in getting the button screw started. If you're unclear on any of this, have a pro do it.
1/2 my brain tied behind my back, just to make it fair.
i doubt it would affect the sound. the ideal location would be next to the neck joint on the side of the guitar facing up, but be sure that the wood block on the neck joint extends into the area to be drilled, so that the screw will have something solid to grip. I would double check everything with a tech though.
"You are amazed that it is so easy to infect men with the war fever, and you surmise that man has in him an active instinct for hatred and destruction... I entirely agree with you."

--Sigmund Freud in a letter to Albert Einstein

i had to put a strap button on my takamine and just drilled a small pilot hole on the heel of the neck (the far part where it meets the body) and screwed the button on. no sound change or ill effect whatsoever. it's very solid