So I want a big lathe. Just because... Proper big lathes are typically 3 phase power.
I don't have 3 phase. I know I can get 3 phase, but it's a fair amount of money.(I had a quote to do it when I built the house, but I was over budget already, so didn't do it. And I'm regretting it.)
The other option is to use a variable frequency drive.
So I know I can use a VFD to run a 3 phase motor on single phase. Basically it takes single phase, converts it to DC then uses ....magic to create 3 output phases.
AFAIK the single phase input current for a given HP motor on a VFD is less than what it would be if you had 3 phase and ran the motor directly. It also gives you a lot of control over the motor speed.
What I have been unable to find out is if my max input current is limited to <20Amps. What is the largest 3 phase motor I could run? If this motor size is too small, or the VFD required to run it is too expensive, getting 3 phase to the shed may be the less expensive option.