I might be spoiled because I am still employed so I get to use the machines at my employer’s shop on my own time to do my projects. I believe a Mill, lathe, small band saw are your basics. With them you can make your sander, polisher, and most of your tooling needs. Next I’d add a welder. gas shielded mig is your best choice, flux core mig is more economical, a tig is even better but not necessary ($$) any exotic metal welding you can farm out. Personally I’d also add a surface grinder to add a degree of precision to your tooling and your projects. I’ll probably take some heat for my choices but 46 years as a tool and die maker has shaped my choices. Best of luck on your quest J.