Roy,

nailshooter is right about sharp tools and good equipment, but on the
other hand what you propose is exactly the way I started turning. Bought
$125 Harbor Freight lathe and some tools. As it turned I was fairly
adept at turning so after a few months I moved up to better equipment.
Sold the HF for $50 and was happy. I like you are somewhat of a loner,
live in the boonies with no clubs or Woodcraft stores close by. So I say
"go for it"!

L Bledsoe