Quoted from CrazyLevi:I think buying a project for your first EM is a huge, gigantic mistake and not worth the 100 or 200 bucks you might save. Buy a nice working one.
Double this advice if you have a significant other who may not be happy about a machine taking up space for months as you work through it. I feel your first pinball purchase should be a solid machine that everyone in the family can enjoy. Then as things stop working as expected you can come back here, post questions, get help and work it out. It easier to say, "Everything worked but this one thing stopped working" and get help then saying nothing works and you are not sure it ever did. Plus you will have to start buying tools and specialty parts to test out solutions and it can get frustrating.
Of course if you have been working with electronics and such your whole life and you have a basement full of tools that is one thing but for most people a fun first machine will be the best way to get started in the hobby.