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Well, for a while, anyway. I've done it for about 4 years, til I bought a few
TSC chicks last month. I only have 3 birds who are "purebred, the rest are mutts. At a couple of bucks a chick that's pretty darn close to self sustaining, though. I haven't had any problems with inbreeding, I bought them to break a broody (it didn't work.) I don't even incubate, only use broodies.
After you've been on BYC a while you will know exactly where you want to get new birds/chicks from, and what kind.
We've never come close to meeting our chicken meat needs from the flock, but then we haven't tried, we're really fooling around with it. You can start with hatchery birds as we did, but it might be worth your while to start with breeder birds if there is a good breeder in your area. I emphasize good, which of course is where it gets tricky. Maybe start following the state thread on here for where you are. Breeder birds are generally larger and will do better for you for meat; they often don't lay as well, though some do, but if you eat much chicken you'll probably get all the eggs you want, and maybe even process some females for eating. More than one breed will give you some genetic diversity from the beginning. Many people decide they would rather keep their breeds separate and pure, but that could come later.
You asked whether there is such a thing as too big a coop. Not really. If it is very cold where you live, and you have something like a barn, you may end up stacking some bales of hay to make them a smaller warm spot to sleep. You might even put a partial false ceiling in for the same reason. On the other hand, a very large coop in a cold climate is a tremendous advantage, because too little space is probably the main reason they start pecking and even cannibalizing, particularly with snow on the ground, which they usually won't walk on.
I think you'll find as you spend some time reading on here, that a plan will fall into place for you. Of course, feel free to ask whatever you wish. And welcome to our forum!