hi, my toosense.
check out the LB1000 from Wilmont Grinders, he has a forum here. probably best bang for the buck, as i already had a motor was able to get complete unit for less than $1000. you might want to look at making your own disc grinder. i made my own for about $250. i went with an 8" and 6" discs. 8" is used by our brothers who do lapidary and metalurgical work. It is a common size and most abrasive makers make psa discs in that size. again, JMHO
other things i would get
a selection of files
small table saw
basic router and router table
dremel or black/decker rotary tool
wet dry vacuum
as far as steel, if you go to the steel reference in the knife dog forum, you will find a good list of suppliers.
I do a quick search of the auction site that starts with Eba daily looking at tool steel, metals, and lab furnaces. that is how i found some O2.
take a step back and look at what you need to do. if i need to shape a handle, a 7x69 belt sander may be what "WeMakablade" uses, but a 3x21 belt sander with a decent belt will do the same job once you figure out your technique.
if you are using 1084, you can get an acceptable blade heat treating with a charcoal fire, a magnet, and a few gallons of canola oil and tempering in a toaster oven.
You are entering a profession/hobby that has no box or boundaries. From what I have seen, all that matters is the finished product. if the finished product works and looks ok, nobody cares whether you used a name brand KMG & name brand knife heat treat oven or whether you used a file, sandpaper, a charcoal fire, and a lot of sweat.