I think you are out of luck.. I have made many a water block with my little Sherline CNC mill but it couldn't handle steel. Anything small like that will not make very large parts either. I could barely make a water block with mine. Not enough travel.
Also you will get kicked out of your apartment running a mill in it (I tried running it in my Apt and didn't get far, pissed off neighbors). They make seriously loud noise when milling. Also you should never leave something like this unattended for more than a few minutes. Any number of disasters could happen.
You can checkout
http://www.cnczone.com/ and ask there.