I know that the thought of getting a lathe for nothing is very enticing, but
from experience I know tht having to big a lathe is almost as bad a not having one at all. I have two small lathes a 14x48 and a 12x36 and I have been able to make everything I have needed over the years. My brother was given an a big old Leblond that weighed in a 5300#. Let me tell you that moving that sucker was life threatening as well as expensive. It was great for doing a driveshaft, but it was also quite cumbersome for doing all of the little pieces we constantly need in our hobby, besides the fact it took up alot of room.
Pesonally, I would probably pass on it because you will quickly find that the hassle is much bigger than the reward. Harbor Freight has a great deal on a small 12x 36 for $1800.

John