This is my turning tool rack. Some PVC pipe screwed to a board, attached to the wall over a narrow shelf. The important bit (as I discovered with a previous attempt) is the gap between the bottom of the PVC pipes and the shelf, to let out any chips that get in the pipes.
The “business end” of the tool is up and exposed so I can find the tool I’m looking for. The rack is mounted high enough that I’m not going to accidentially stab myself reaching for a tool.
Cut and bend sections of a used bandsaw blade to make stands for holding your work off the table while finish is drying.
I use 2″ hook-and-loop sanding disks. I added a strip of sticky-backed velcro to the edge of a shelf to hold the disks between sandings. They stay convenient, clean, and organized.
I use small, cheap die grinders from Harbor Freight for inertia sanding. They are small and cost about $10 when on sale. They may not be great die grinders, but the bearings are good and they have a 1/4″ collet that accepts my 2″ hook-and-loop pads.
Inertia sanding is when you hold a sanding disk to the wood while it’s spinning on the lathe. The turning wood spins the sanding disk so you don’t get straight scratches. It’s less aggressive than power-sanding, and can produce a better finish than plain flat sandpaper.