I think you have taken some good first steps by working to educate yourself, and by asking some good questions. I only got into machining as a hobby a few years ago, and I still consider myself something of a newbie.
I kept some notes on myself as I went through the learning process - you may find them useful:
A few other thoughts: There is something to be said for diving right in and learning by doing, but that can also lead to some, let's say, not so useful purchases. I'm betting every home machinist has some nice shiny new tool that seemed liked a good idea at the time, but never really gets used.
Now sometimes you run across one of those once in a lifetime items for sale, but I don't think the mill you are looking at is it. By an odd coincidence, I bought my mini-mil from a guy in Iowa (I'm from Michigan - picked up the mill while visiting relatives in Iowa). These kinds of things show up on Craiglist and elsewhere all the time, and of course you can always buy new.
Another post mentioned checking the power type. Good idea - you will find 110V single phase, 220V single phase, and 240V 3-phase out there, so make sure you can plug in whatever you buy!
Best wishes as you go forward - it's a fun hobby as well as useful.
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