Yeah, a lathe is certainly unavoidable. Do you think that's required for taking the first step though? I'd be happy to save up for one if it is.
You can absolutely make stems, top quality hand cut stems, without a lathe, using delrin inserts for tenons. The only issue with it is that you'll be forced to fit them to standard sizes of delrin (1/4", 5/16", 3/8" etc are real common) and not custom-cut a tenon to size for any particular pipe like you could on a lathe.
But tons of high grade pipe makers use delrin preferentially, it's not a "cheat". I use it especially on thinner pipes where I want a 1/4" tenon and still a 5/32" airway. Pipe makers forum has oodles of info about process in the stickies in the stem making section.
You can make pipes with a drill press and some files and sandpaper, pretty much. But it's extraordinarily taxing to do so. A bandsaw is nice, some kind of power sanding setup (belt or disc) with dust collection is nice. Buncha different files and rasps. But the basic problem to solve in making pipes is "how can I get the stem to shank junction to work?" Once you solve how to keep the pieces of the pipe together, everything else is refinement.