I've restored a Cabaret and don't think it would be a good "first" pinball project. Unless you LOVE old pinballs, you'l get bored easily while playing, although young kids will love it.
And pinballs are completely different animals than videos, especially EM's, so be prepared to take a LOT of time to fix even simple problems. 3 hours of troubleshooting to find something that take 3 seconds to fix is quite common.
I agree it is a good idea to get (your first) one that is mostly working with minor issues and cleaning needed. Learn on that. Read Marvin's marvelous guide to pinball repair and try not to mess it up. Then, when you have some confidence in them, get a project.
I also wouldn't recommend a "small flipper" game for your first pinball unless you're used to them...