What quantity are you running?
Is purchasing a printer more cost effective than doing a run of labels from a professional printer?
All the same label or several different ones?
Are these roll stock for a labeling machine? Sorry, not familiar with brand/model-
Until I'm ready to commit to a full run of professionally printed labels (...of which I usually design 90% myself and then have the pro's tweak it a little...) I print a master copy on my ink jet printer and take it to the local print shop for laser color copies. Sometimes I use a 14-up pre-cut Avery label and sometimes I use a full page Avery label which will accommodate 6,8 or 10 labels and then I cut them with the paper cutter at the shop.
Another trick for using ink jet labels, which will run when they get wet, is to print labels on the ink jet and then use an acrylic spray sealer on the sheets of labels. Spray the whole sheet, then apply to bottles.
This definitely is only a small run and temporary label set up, but it sure beats plunking down $1k.
Once I have the product, ingredients, and layout set, I prefer to have a professionally printed label since the recipe isn't going to change. There's tons of online label printers, but I use a semi-local print shop who I have used for 16 years. It's nice to have that face-to-face when needed.