Taken from my other reply:
Your best bet for a 2HP vfd would be the KBAC-27d in my opinion. Electric Motor Wholesale has some of the best prices I've seen, although you MIGHT save a couple bucks on eBay. There's one or two sellers on there who sell them new for about as cheap as you'll find them. Might even be EMW. Just make sure to add a power switch and a forward/stop/reverse switch IF you require them. Stock, they only come with a stop/run switch. If you source the switches and dust/water proof boots separately, you can save a couple of dollars off of what they charge from the distributor; you just have to make your own jumpers. OR you can just pay the few dollars extra and have it delivered with the switches installed. You'll also need a wiring kit: something like 12-3 SO (flexible) cable for the power cord, and 12/4 for the motor to VFD connection. I'd grab a quality plug end, and some water tight fittings too. I THINK it's 3/4EMT for the knockouts.
I think that covers just about all of it...
There are several other options available if you want to go with a lower cost open frame VFD, but then you have to build an enclosure and/or worry about dust migrating in and frying your board.