Hello and welcome,
I currently own two lathes and have owned three others if you count the 3 & 1 machine I bought long ago.
As had been said, we all only have our own experience to go on but you will notice a pattern here. My personal opinion not knowing what you will want to make in the future or how much money you are prepared to spend....
12 x 36 is the smallest I'd recommend if you don't want to upgrade in the future.
US, British, or Taiwan built
Don't be in a hurry, good machines will come along and if you have patience and cash available you can get one.
There's lots of great threads on here about almost every kind of lathe you can imagine, read them and learn.
Download South Bend's "
how to run a lathe" and read it before you buy anything.
Ask around your friends, never know someone may have something that their long dead uncle left and they want to get rid of it.
Real industrial machines are built much better than modern hobby tools, if you have the space go big.
Feel free to post pictures, questions, or whatever on this site. You will get solid opinions on whatever you ask and nobody will tell you it's not worth their time.
PM is well regarded here and few will say they went wrong with them. But, if you have time and patience used lathes do come up and are often a MUCH better deal than buying new from any dealer.
This is the center of your shop and MUST be able to do what you ask of it, that's why people want to know what you plan on making. Buying the wrong thing will lead to frustration and even the best built tool can be the wrong one if it doesn't do what you require.
Good advice is definitely available here but knowing what you're asking is the first step towards getting it.
Cheers,
John