L4 and L5 are dusty places full of micrometeoroids, and they're days from either Earth or the Moon. To start with, better have something closer to home. Build up in stages to the larger structures and more permanent, more self-sufficient settlements.

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"If this were play'd upon a stage now, I could condemn it as an improbable fiction."
Shakespeare, Twelfth Night
Illuminati's Razor-The most complicatedly evil answer is usually the most correct answer. - Fazor
"Every book is a children's book if the kid can read." - Mitch Hedberg
"Distance doesn’t matter much in space, where if you just start a thing off with the right kind of shove, sooner or later it will get where you want it to go." -Frederik Pohl, Mining the Oort