Damn.
I love my lathe and use it non-stop. It didn't take thousands of dollars worth of stock, equipment, tooling either. Anybody interested in a lathe- Buy one used with all the tooling. You can be fully set up for less than 1k if you are diligent. As you can tell by this thread some people consider a lathe the MOST USELESS tool

LOL, which is crazy to me, BUT that means you should be able to find a good deal.
One man's trash is another man's treasure
Totally agree. I use my stuff all the time for things I can't buy. Maybe it's different in other places, but in Orange County, good luck finding a machine shop that wants to make you a $100 part. That's usually what I do for other people because they get turned down at machine shops. Most aren't going to change setups or have some guy take a break to make some goofy part.
So what do you work on that you can't buy parts for??
Do you do machining as hobby ... umm ... for fun

, or do you do machining because it's PRACTICAL?
The oldest thing I had to fix up was 1950's forklift. I THOUGHT I'd have to get some parts custom made, but actually was able to buy everything I needed either as direct replacement or adapt from other automotvie applications (starter, hydraulics, brakes master cylinder, etc).
Typical automotive jobs I've been bringing to machine shop - resurfacing cylinder heads, turning brake rotors, valve grinding - were all under a $100. For cylinder heads it might be a bit over a $100 depends on the shop.
How much $$$'s worth is in climate controlled shop space that is being used up by the lathe/mill/surface grinder, tooling and metal stock? I figure it would be a hundred bucks a month or more. And that's just fixed cost, month after month regardless if machining equipment gets used or not. Some choose to ignore that cost, because it's indirect - but dry, accessible, heated/air conditioned floor space is rarely truly free.
For cheap equipment - typically it's cheap equipment that needed repairs, parts and additional tooling = time and money. More importantly what's the total cost of having equipment setup and working in your shop? So you buy a 14 ft gear head lathe with a 20" chuck for $500, but what's your total cost with rigging, moving and setup included?
Do you keep track of how much time you spend machining parts and how much $$$ your end product is worth vs how much $$$ your time is worth?