My budget I am trying to keep around 20k, maybe alittle over with tooling. I have no experience in machining at all so I am really new to all this but have done a lot of research. Basically just milling doodads to get a little experience and would like to pick up a little custom work to keep the machine busy part time. I eventually want to add a lathe as well. I have a full time job that pays the bills so not looking to really make much money on it. For CAM software probably sprutcam for the tormach and autocam fusion for the mx200. Maybe for what I am doing I should should go with a tormach 440 or 770 or maybe an older used machine. I would just like to hear some opinion from some of you experienced guys.
I have never bought a CNC, just converted a manual machine, but I will see if I can help at all.
For hobby work, I think the MX200 is a little bit overkill. I think that same money could be better spent on other things at first to get you started and help better equip your shop.
I would think very carefully about exactly what you want to make with the machine to make sure you don't end up with a machine that can't handle it, or spend too much on a machine you don't need. One of the things the 440 and 770 have going for it is the 10,000 RPM spindle. If you want to do a lot of work in aluminum, the higher spindle RPM will come in handy. If you want to work on small things with a lot of detail, the higher speed will be good for getting very small cutters to cut well.
For production work, the discussion would be very different. Tormach machines have relatively slow rapids (110 IPM on each axis, my little X2 can do 300) and relatively small spindle motors. But I think they offer great value for hobbiests and job shop work. Maybe you can see some of these machines in person to see what feels right to you. I see you are in Kentucky, if you are nearish to Saunders Machine Works (Youtube channel NYCCNC) you might be able to go to his shop for one of the intro classes he does. You would get to play with all of them a little and see if any feels better than the others.
When I got started, I had only a little X2 mill. Within a few weeks, I found that the shop is seriously lacking without a lathe. There was a lot I couldn't do that I wanted to with just a mill. It might be worth it to plan for getting a lathe sooner than later. You should also consider that there is a bit of a learning curve with machining. There is a ton you have to learn up front before everything will start to work well. Its more than just designing a part and saying "go".
I would have a look at Fusion360 for CAD/CAM. Its free if you are a hobbiest or professional that makes less than $100,000 a year with it. Its fairly easy to use, but its not without its shortcomings.
Maybe thats just rambling, maybe it helped a little. I am sure others will chime in soon with more insight.