painting 100yr old california bungalow

My project for covid break-is painting the exterior of our craftsman bungalow. I have redwood clapboards, surprisingly in decent shape. Only on the SUN side of house has chipping paint, the rest of house I can just clean and prep.

The tough part has been scrapping the chips (laid plastic down, n100 mask respirator, goggles and tyvek suit)...I feathered in some of the areas that got to bare wood to old paint, with some patching compound.

The main question is the PRIMER, im in a debate with myself on using OIL or WATER based primer? The primer needs to adhere to a few minor areas of raw wood, but mostly old lead based paint and whatever the last owner painted 10-15 yrs ago.

Pretty set on water based PAINT, but what about primer? my wife picked up a 5 gallon of zinsser 1-2-3 primer, but not sure to open it-maybe return for some oil based?

What do you think?