I had a 3 in 1 machine and all I could do with it was destroy parts, it didn't even make a decent drill press. I found an old Seneca Falls lathe on craigslist for $300 and it has served me well through 3 different businesses. This year I've been fixing it up with a new VFD drive, QCTP, small but hopefully accurate milling attachment, and a bunch of tooling.
Remember that, tooling is everything where these machines are concerned. If you can get a decent used lathe with lots of tooling (chucks, collets, holders, cutters, steady rest, faceplate, etc. you'll be miles ahead. I personally wouldn't go for an Atlas but here's one in Michigan if you're interested.
https://nmi.craigslist.org/tls/d/south-branch-metal-lathe-atlas-618/6830498003.html For the price it might be worth checking out.
Two things I've learned about lathes in the past few months fixing mine up. First, I'll never be able to turn something over 340 rpm because of the plain bearings in my headstock. Second, I have to use the change gears if I want to adjust the automatic feed rate. If I had it to do over I would have looked for a newer machine with ball bearings and a quick change gear box but I am still extremely happy with the functionality of my 9 x 5 Star.
I sold the 3 in 1 less than a year after I bought it and was very happy to see it go to it's new owner even with my loss. Shoot for the heaviest machine with the biggest work envelope you can fit in your space, you won't be sorry....
Cheers,
John