Though some of the set-ups would be a bit of a bitch, one can make just about any modern personal (not crew served, etc.) firearm with nothing more than a good Engine Lathe. One which is at least a 12x36. A 14x40 might be better. You will need some tooling and the abiltiy to make fixtures and additional tooling.
Even rifleing can be done on a lathe, it's just a matter of making a device which will rotate the barrel as the cutter is drawn out. Much faster than the lead-screw is capable of doing.
But, given a good Horizontal Mill or Vertical Mill and a good Engine Lathe, plus a pedistal grinder and a lot of time, it is not too difficult to make firearm parts.
Time and ingenuity will be your greatest constraints.
BTW a complete manual shop (no CNC stuff) will run you about $ 20,000 for good used equipment. Cheaper than that, I would suspect that you would be un-able to produce quality parts, as the machines would not be good enough.
If you want to make barrels, it would best if you obtained a rifling machine. These are expensive, however.
Dave.