You'll be doing good if you can snag a tight, tooled up mill with a DRO for less than 3 grand.
IMHO, a lathe needs to be fairly large to be useful, but I have no idea what you need for bed length or swing. If you want a small lathe, $1500 can buy a lot. If you want a nicer toolroom lathe, you're looking at 5-8 grand for one worth owning with enough tooling to make it useful.
Deals can be had, but those are everyday "I need one now" prices.
BARE BONES TOOLING
If I was tooling up these machines, this is what I would get. There are cheaper ways, but I make stuff for a living, so I buy high quality tools when I can.
LATHE
Chuck: 3 jaw is pretty standard. If you need to, get a 4 jaw for eccentric turning or a 6 jaw for thin wall stuff.
Dial indicator and base. I like Interapid, Starrett and Mitutoyo. If your work isn't fussy and you want to save a buck, there are cheaper brands. I like quality measuring tools, so I get the good stuff here. NOGA for the base.
Trav-a-dial. You may not need one of these if your lathe has a DRO in the Z axis.
Tool holder of some sort. Aloris, and Dorian Tool make nice QCTP holders. These can get expensive, so look for a machine with a nice one already installed.
Turning tools. Left right and centered. I like stuff from ISCAR, but there are lots of tooling companies that make nice stuff. Familiarize yourself with insert geometry and what shape does what in what metal.
Threading tool
Parting tool. I would really recommend ISCAR here. They are the best. No question. Parting usually gives people grief at some point, why make things hard on yourself?
Assortment of boring bars.
Drill chuck for the tailstock.
Live Center
MILLING MACHINE
Test indicator. Again, get a nice one.
Vise. Kurt is the industry standard for a reason. If nothing else, get a good vise.
Parallels. You can get a cheap set. They aren't rocket science to make, so why spend ridiculous money on a set. They usually get banged up anyway.
Strap clamp/tee nut set. TECO makes a nice made in USA set for about $100
Drill Chuck. Jacobs or Rohm for keyed, Albreight for keyless.
123 blocks. At least 2. These can be imported. Again, its just a block.
Assortment of milling cutters.
Collets and toolholders. R8 for a BPort
That should cover all the bases.