Are you in a shop or out of your home?
The reason I ask is the answer you seek will depend on if you are audited by OSHA.

And it depends on the scale of what you intend to do. Occasional hobbyist or daily business?

All clean up of solvent/epoxy inks has to be done in a fume controlled area. The ink itself can offgas for hours so your work area needs to be ventilated to. Your box fans have to be properly wired to prevent any flash ignition points. You cannot pour solvents down the drain (obviously). You have to have fire control, an explosion-containing combustibles cabinet for your inks and solvents, and a program for dealing with rags and waste solvents/ink. And you have to have personal safety equipment (organic cartridge respirators and heavy gloves when dealing with solvents).

I'd think you'd want to be just as careful in your own home.

A lot of the automated equipment is rigged for openshop use with vent tubes going to a stack outside.

The actual emulsion stuff is all water based. No problems there.

In a shop. We're in an office environment right now but looking for more industrial space to set up the screen printing equipment and a smaller wide format printer (54").

Good point on the fan wiring. That would be a bad day. Looks like there is a lot more to consider than I first thought. Looks like I'm going to have to do a bit more research before jumping in head first.

Depending on where you set up (industrial space) you could look into a self contained paint booth. may be less expensive than building your oun partitians, wiring, and air make up.

basically what you'll be dealing with is paint on fabric. Many of the concerns in creating a paintline is also a concern when properly setting up a screen print area.

A couple of the screen printers that I have visited, have the application unit then the shirts are placed on a conveyor which sends it through a dryer oven. The application machine was in a seperate room, the conveyor was positioned at the end of the "booth" and then after dried the shirts could be packaged.

This was a rather large opperation though.

Hmmm...a self contained booth is a good idea and a lot easier than ventilating an entire building. My biggest concern is how to deal with the liquid solvents. Do I just clean the screens and equipment in a tub like a part washer that would then drain into a metal container of some sort? I would assume that I would then rinse them in water that would drain into the same, or another metal container since it still wouldn't be safe to go down the drain.

Am I on the right track so far?

Hope this is still relevant but my computer has been in shop.
Best wash up system is similar to one you describe and tere are people that will come and recycle the solvent for you.
The solvents and inks you use will depend on what you print on.
Garment inks nicer - poster/ flat stock prionts can be fairly gnarly.
I know one t-shirt shop that uses soy oil instead of turps to cleen screens/ squeegees, best bet to find your local screen print supply company and talk to them.