Harry, you're gonna spend more than $1000.00 on a Sherline lathe & mill.
Plus you will need a LOT of additional add on's to do what you want.
http://www.sherline.com/prices.htm .
If you can't swing a Sherline, Micro Mark, Harbor Freight, Smithy and several others sell a mini lathe and mill for around $600.00 each. But you will still have to buy the attachments seperately.
Shop around and talk to people who own different brands to figure out what will do for your needs.