I have researched and contemplated the same thing for a while now......
I came up with getting 2 pieces of equiptment.....here is my logic behind that decision......
The equiptment will get lots of use and wear out faster if one is used for both.
If there is a mechanical breakdown then both projects come to a halt.
Buying used I can spend about the same money on both that I would for one multi-purpose machine.
2 toys are more fun than one.........
I decided to get a lawn tractor as they call it ,basically a lawnmower that is capable of using ground engaging implements,so I can still haul wood on a trailer and other various things with the mower and spend the money on a used tractor to do the larger work with.
Not sure there is any right or wrong way to do this ,just personal preference.
I decided that riding a lawnmower would be less work than a tractor in the yard.......its about 3 1/2 acres to cut if you can even call that a yard and less destruction of the yard as someone before me had already used a tractor and left alot of horizontal ruts in the yard.......I hope they settle back down as I can only cut the yard one direction or it is like ridin a buckin horse.
The turf tires definatly sound like they way to go if you do decide on one piece of equiptment.