Hi Xiansheng,
Welcome from faraway Singapore.
For our model engines,i.c.,steam,compresssed air etc, a mini/medium vertical mill would take care of all the milling. I make do with a Japanese Sakai Mini Lathe, Japanese Sakai Vertical Mill with 12mm end max.and a 12mm max drill capacity Chinese Drill Press, a Makita Portable BandSaw.
It is true some forum members collect big&med lathes,big&med horizontal mills,big&med shapers etc. But when it comes to build small model engines,these machines will be a wee bitty clunky/chunky/clumsy. Most of us have machineshop located in our residential home and hence min lathes and mills. Mine is located in a open sided balcony. The climate and weather here in Singapore is OK and not to wet. Rust is not a big problem with WD40.
The HMEM folks are very helpful professionals. We have highly skilled machinists, tool&die makers,foundryman, boilermakers,electricians,engineers etc.
Gus Deng Shi Chen. Aka Gus Teng