Quoted:
I am 50 and have been on a 1500 calorie diet since June 1st. Started at 267 and now weigh 234 and I am 6ft 1. I just joined a gym and have been trying to devise a work out. I read that I need 2 to 3 days between lifting workouts. I also read that one set is all I need to do on each machine. Find a weight that is a gut buster to do 10 reps and once you can do 12 move up the weight. Keep in mind I am 50 and my goal is flexibility, stamina and strength gains.
Asking workout advice (anywhere) is like the 9/40/45 debate on GD. You'll never get one, solid consensus.
Personally, I've always found that when starting off, taking 5-7 days between a muscle group is about right. For example:
Monday - Shoudlers
Tuesday - Back/Bi's
Thursday - Chest/Tri's
Saturday - Legs
Next week, repeat, pretty much any order except for starting with Legs or Chest/Tri's.
Due to the physiology involved in the deltoid (shoulder) muscle, you can incorporate anterior/meadial head stuff into your chest day and posterior into back day.
As far as the one set stuff, if you're doing 1 set on 1 machine, but 3-5 machines per muscle group, you might could do that, but 1 set per muscle group isn't going to cut it. What you've described sounds similar to the Mike Metzgar HIT type workout. But since you're just starting out, you will see gains with just about anything, so I wouldn't start looking into the specialized routines until you're body is acclimated to the gym/lifting and your body has hit a plateau.
For flexibility, obviously you'll want to be stretching after your cardio warm up and also after lifting. I'd suggest stretching in the morning as well if you workout at night. I think stretching is one thing that most "typical" weight-lifters will neglect.
Stamina. Are you refering to cardio or muscular?