You have gotten some good advice. The lathe is cheap because all the accessories are the expense.
I have been turning now for 10 yrs or more and can tell you it does get expensive. Today after turning all these years I can say buy quality to begin with. If you get the bug like I did it will cost more now but in the long run will be cheaper and save you money. I turn everything from bowls, pens, pepper mills, pizza cutters, mini birdhouses, etc. I use them to repair furniture that needs items turned. I don't make a ton of money but this year so far I have made around $3400 and getting ready for Christmas which should be pretty good. I do only 2 craft fairs and have my turnings in a Art Gallery, a Floral/Craft store, and at the Buffalo Bill Cultural Center which sells to tourist.
What I meant was about buying good equipment to begin with is if you do like I did and buy cheap lathe and cheap tools and get the bug you will be upgrading. Over the first few years I spent more money than I would have if I had just started with what I have now. I bought a cheap C-man to begin with and got so frustrated with it and bought a another cheap lathe, and then a third thinking I was saving money. If it were me I would get like a Jet 1221, Rikon 70-220VSR which I have heard good reviews on or a Turncrafter Commander to begin with which will let you turn 11" to 12" bowls, pens, pepper mills, etc. I would get these tools which will give you a good start. https://www.pennstateind.com/store/LCHSS8.html
I bought those and still use most of them today.
I now have a Jet 1220 and a Nova DVR XP. A good chuck is a must. I use Vicmarc chucks and have probably 5 of them. I am lazy and don't like changing jaws so each one has a different set of jaws.
Long story short you will save money buying quality to begin with. If you find out you don't care to turn you will get your money back easily. My first C-man went to the metal scraper because I couldn't even sell it. So just some thoughts, info and idea's to mull over.