First off so sorry for your loss, very tough thing to go through at any age, but especially when you are a young guy.
Personally I would recommend that before you spend any money at all, you take some time to do a realistic plan.
Talking to a good career counselor is a great idea. If you have an interest in engineering, go for it. Budget carefully for school, and look for State Universities to get the most bang for your buck.
Back to your shop and maybe somebody else can comment on this. Have you considered including a pit ? A neighbor had a large pit in his shop, with heavy beams and a steel plate he could insert to support narrower width vehicles. Always felt safer than a lift, and possibly less expensive? Also obviously requires less headroom than a lift. Of course most tractor work and farm machinery does not require a lift or a pit.
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Today's Featured Article - Product Review: Black Tire Paint - by Staff. I have been fortunate in that two of my tractors have had rear tires that were in great shape when I bought the tractor. My model "H" even had the old style fronts with plenty of tread. My "L" fronts were mismatched Sears Guardsman snow tires, which I promptly tossed. Well, although these tires were in good shape as far as tread was concerned, they looked real sad. All were flat, but new tubes fixed that. In addition to years and years of scuffing and fading, they had paint splattered on
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