There have been a bunch of threads like this in the last few years (and when I joined, I started my own just like this). Using the search function will turn up some really good advice. I've given some long, drawn out answers before, but will keep this one short.
I think it's really important to either:
1. Have $20k sitting around to spend (or large monthly budget)
2. Work on it in phases.
When I started with a small budget and no focus, it just felt like I wasn't getting anywhere. I'd spend like $250 on a group of say 15 commons, and then my budget was gone for the month, and I was still 430 (or whatever large number) away from completion. I would break it into smaller projects so that you can feel some satisfaction of completing them. That could be teams, series, or subsets like portraits, HOFers, SLers etc.
I gave up after awhile because it just was taking way too long, and really wasn't that much fun. Now I just collect the cards I like. I think someday I may go for 520, but I have no plans to at the moment.
The best advice I got when I started was to get the HOFers first. That way, if you decide to sell them, it will be easy and you won't be stuck with a bunch of commons.
Go into it expecting that your preferences may change. I have changed direction a half dozen times in the last 5 years. But I still love the set, and I'm buying more than ever.
Good luck.
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