OK NavyShooter, just one more thing... I know you've been inundated with advice, but here's my complete take on this. I've bought both new and used machines in the past, and rebuilt a lot of stuff. -However- it depends on your particular needs. I think you have made them clear, but if I may reiterate:
- You want to pay $4000 or less. Rewiring to 220V is for later. 30-36 inch bed is preferred. In the $4000 you want enough tooling to cut chips. You prefer new.
so here goes: +1 check out Modern tool, even if it is a long shot. they sometimes get back their 12X40s from people who upgrade. They will stand behind it if they sell you a used machine. Check out Canadian used machines with tooling. You just missed a 16X40 in S Alberta with 2 chucks QCTP and more for $2500. The lathe was in excellent shape. Shipping would have come to $800. (I shipped my #3900 mill from Vancouver to Calgary with tailgate service for $750. )
-- don't be intimidated by a 220V machine. For a while at least, almost every 220V machine can be rewired to 120V. I initially wired my 12X37 to 120V, and then 220V when I moved it to my current shop. If not a 1HP 120V motor is $150 and can get you started.
Then I'd check out Skinner and PM and Grizzly. You have to be careful as for a used machine, however as you are still buying sight-unseen. There are several great suppliers in Ontario, one that has digital threading on it, but I can't remember their name, but they are in London, I think. Standard Modern in Ontario has a nice 10X30 using D3 camlock, and they come up regularly on Ontario Kijiji. Even a school-worn SM is within .0005 on the bed after being crashed uncountable times. My friend bought a SM for $1200 with 2 chucks and no other tooling: that extra 2800$ covers a lot of shipping and tooling.
As you can see my bias is to get a well kept used machine at about a fraction of retail. I am currently negotiating to upgrade my 12X37 to a 15X60 LeBlond and my price to buy is between $4000 and $5000, completely tooled and perfect ways.
My current lathe is a 12X37 bought new in 1981 for nearly $3000, and although I do not regret that purchase, knowing what I know now I could have gotten a lot more for my money. Really, even if you have to save for another 3 months, get the best quality you can afford right at the start. If you are willing to be patient and hit the pavement, you can dig up a great deal. This fall I passed on a Harding HLV in Red Deer, about 2 hrs drive: it was a 10X30 with tooling for $3000.
Call or visit machine shops in your area. Sometimes they have a machine 'in the back' that they will let go to make room. Put an ad on Kijiji saying 'lathe wanted', etc. One of the hobbyists here did that and bought a King 12X40 with LOTS of tooling for $2600 - I helped him move it, and it was brand new!
Hang in there, and let us know what you find!