the first think to overcome is the doubt that you can't do it. I bought a ex army lathe (13" throw 34" bed) in very good condition for £400 and an excellent Bridgeport for £800 and normally machine to 0.01mm on all dimensions. Patience is the skill.
I have just purchased a Myford VMC built in 1980 to join my 1973 ML7.
The machine, to my limited exp, looks in good condition with the small problem that someone put a single phase 370W motor on it. This has been rectified with a 1.1KW 3 Phase and a Mitsubishi D720-070 Inverter.
It need new...