Whatever it's final minimum memory requirements are for the A1/OS4 which i assume would be anything from 16 to 64mb, give it at least 256mb and let the multitasking fun begin.
I personaly would probably give it 512mb (seems overkill in Amiga land but it's cheap) so i know i will never run out and could run as many apps at once i could possibly ever need. I could do this on os3.9 with 64mb very easily but i'm allowing alittle extra for OS4 :-)