[wouldwurker]

I've mentored with a team for the last 5 years. We work out our design concepts where intricate lathe work is not a real need. There have been a few needs for cylindrical work over the years where we have made use of a 1940's South Bend lathe located in my basement (my kids have run this for the team). Typically this has been some special machining on a set of wheels or a shaft or two needing a drilled and tapped hole on the end, or possibly turned down to a metric-equivalent size.
I'm not convinced that a team with limited resources really needs a CNC lathe, or even a CNC mill. Last year our team purchased a drilling/milling machine with no CNC capabilities - but it is a wonderful machine for doing some light milling and precision drilling patterns for gear trains.
When we have a need for exotic machining, we look to our local machine shops for a donation of labor and have not yet come up short.
If you have restricted space, make use of it wisely. Loading it with equipment that has minor advantage is just not worth it.
Good luck!