Since you're in Cleveland, Go up to HGR in Euclid on Euclid Ave. you can find a used lathe possibly a small Hardinge or a nice lathe that needs some tlc for about the same money and have a machine you could actually do something with. There another place over by the airport, McKean Machinery.
http://www.mckeanmachinery.com/
http://www.hgrinc.com/
Be patient, a lathe you may find perfect for your needs comes in there from time to time just be fast to call because some deals don't last long at all and if it sits for a month or so, they reduce the price till it sells.
I have seen small tabletop CNC lathes and mills come in and if I knew more about them I would have snatched them up for the $400 or so asking price.
I've spent tens of thousands at both over the years.