I've been taking to some folks, and it looks like I've found an inexpensive way to run a VFD on a single phase 120v setup. I'm running a 1hp 120v single phase setup on my grinder, and I was doing some reading, and this little device came to my attention. An inverter frequency converter. You can run 120v single phase input, and it will give you 240v 3 phase output! Found a few different options in my searches, and they run from about $60 bucks for a Chinese brand on eBay, to a few hundred bucks for name brand controllers. I've read in some other forum posts that there are guys running both the Chinese brand and the name brands and I haven't seen any posts about any of them having issues with either of the cheaper models or the more expensive models. I will have to check my motor, to see if it has the ability to run 3 phase 240v, because I may be able to run power out to the shed. If I can switch, I will just go that route, but if I can't, I will pick up a cheap inverter frequency converter, and see how it works!