If your budget is only 20k you may be better off continuing to farm them out. That part with a thread and a ball is trivial to make on a screw machine and quite practical to make on a small CNC lathe equipped with a bar feeder, but this type of equipment costs several times 20k. You could get a small CNC but then you will be dealing with a manual chuck or collet and you would have to advance the bar stock by hand. Doing hundreds of small parts this way teaches you the meaning of the word tedious and your time is probably too valuable to spend hours in front of a machine getting brain dead.
An open mind is a virtue...so long as all the common sense has not leaked out.