That Chinese imitation Bridgeport is a 'gambling-device'
For infrequent home hobby use, it may be a worthwhile gamble, or, at least, an interesting 'learning curve experience'. If it does seem to work fairly well, it will soon pay for itself with home capability for work which would otherwise have to be sent out, such as drilling out broken studs or bolts, or making up special tooling as may be needed.
With its alignment errors mapped, one may shim workpieces to compensate, and get fairly good work, just not 'make good time on the job'. Understand that you will also need a mill vise, collets, drill chucks, end-mills, etc., and budget accordingly.....such tooling may often be found cheaply on Craig's list, or other internet sources.
If you are planning to use machine tools at all, setting up a 'phase converter' is practical and cost-effective.
The cheapest option is to get a 'static phase converter', and use it to start an 'idler motor', which will 'induce' the 'third leg' of three-phase, from the 'two legs' of common 230V residential 'dryer plug' or 'electric stove plug' power.
The info about how to do this is available in many places on the internet....do a 'search' and read dozens of 'success stories'.....and the 'bad example' stories, as well.
Hooking up a phase converter system to power machine tools from the common 100 Amp residential service is a very simple, easy job, for someone with electrician's knowledge and skills.....if you haven't those skills, get an electrician friend to help.....even common 115VAC power can kill or badly burn you, if you are careless with it.
If you opt for a 'VFD', be warned that using frequency change as speed control may 'fry' some cheaply made (read 'oriental') motors.
cheers
Carla