Brodie,
Check out eBay for used vacuum pumps. The type that you should get is a dry (non-lubricated) rotary vane vacuum pump. GAST makes a model that is very popular and it is the model that Craft Supplies sells for $360. I got my used one on eBay for $25. The GAST pump is capable of pulling 26 inches of mercury vacuum with zero flow and has an open port flow rate of 4.5 CFM. The motor is 1/4 HP and can be wired for either 120 or 240 VAC, but there is not any reason to use 240 VAC unless that is the only voltage available close to yor lathe.
In addition to the pump, you will need a needle valve for fine tuning the vacuum to the chuck, a vacuum gauge (get one with a large dial), a filter to catch any of the stuff from the chuck (put it close to the headstock), a couple ball valves (to shut off vacuum to the chuck and to dump the input to atmosphere), an electrical switch, a manifold (to mount the filter, gauge, and bleed valve), a quick disconnect, heavy walled reinforced hose, a vacuum chuck, and a rotary vacuum adapter.
I built my own rotary vacuum adapter using a double rubber sealed bearing (it has to be sealed and not shielded or else there will be way too much air leakage), some PVC filltings, some UHMW, brass plumbing fittings, rubber gaskets, and all thread lamp rod. The cost was around $20. You can buy one for about $70.
I built my vacuum chuck from a faceplate, rubber washer, fender washer, MDF disk, 4" heavy duty PVC coupling, a brass 1/8NPT nut, and some wide closed cell foam weatherstripping. The cost was around $30. You can buy one for around $80.
I found that the UHMW, PVC, and brass can be turned on the lathe very nicely using your regular turning tools, but I wouldn't use a bowl gouge.
It was a lot of fun and took a couple weeks of spare time, but I also saved a few bucks.
Bill