If you don't already have a regular size iron, I would start there rather than a small one. A good pair of scissors, a rotary cutter and mat, and 6.5x24" ruler are handy. You don't need a ton to start, I would buy things as you need them for projects rather than trying to project ahead and buy for the future. At least for me, it's more manageable that way, both for my brain and my pocketbook.