A quick side comment about VFDs, the better ones are somewhat pricier. Consider looking for a totally enclosed model, the slotted open sided ones dont care for much for shop grit, particularly metallic.

Good 3ph motors can be moderately priced and worth considering just changing the motor on a piece of equipment. The output on my VFD has an outlet socket and I plug in the machine I want to use. A good option for hobby use, I suppose bad if it goes down, but each machine does not need a dedicated setup.