First of all, you can really save some money by asking around for used gear. You can save even more by being handy. I have 7 or 8 compressors I let folks use with the stipulation that I can have one back the instant I burn one down on the boat. That keeps the compressors working and maintaine, so I know they will work as a spare if I need one. Additionally, the marina I dock in is mostly a marine junkyard. I see 4 or 5 navy surplus HPAC's around, at least some of which can be combined to make a working compressor. The Navy excesses pumps and boosters all the time, that's how I bought my first booster. I found out last week that the NOAA office in Miami has a Masterline booster that they have no need for, don't know how to use, and want to get rid of. With FEMA throwing money around after 9/11, many fire departments in the United States got new 6,000 PSI air fill systems. There is currently a glut of 4500 PSI machines on the used market. I've been buying cascade bottles in the $100 range.
These prices aren't available everywhere, you have to really dig for them. You have to be patient and wait for deals to come along, and you have to get the word out that you are in the market, and you have to have a little cash available (that your wife doesn't care if you spend) so you can close a deal when you see one. I would not consider a going out of business dive shop to be a source of bottles or pumps, they are trying to squeeze as much out of their assetts as they can. If I wanted my own pump, I'd wander around fire stations in rural areas until I found one. Again, the more mechanical you are, the better deal you will find. Be sure to study up on what is available, you will be hard pressed to find parts for the old military surplus Worthington and Ingersoll-Rand pumps, but anything with a Bauer, Mako, or Eagle sticker on it should be OK to have parts availability for a while at least.
About the neighbors. Can't help you there, boss. I have friends who keep their fill stations in industrial buildings or warehouses owned by their friends. There are a few reasons for this, the major one being that most compressor motors are 3 phase, and it is rare indeed that a house has 3 phase service. I have the only house I've ever heard of that has 3 phase power, and I don't use it for anything but air conditioning. another is that insurance inspectors don't usually care if an industrial facility has an industrial process, but your homeowners carrier might just give a damn when you blow the roof off the garage.