Our hallway has a built in desk, which I've been slowly re-appropriating as an etching nook. First, my husband and I covered the walls and desk surface with a heavy duty drop cloth, to protect them from any ink. Fortunately, etching ink is very stiff and doesn't spill, so it's really only fingerprints and used wiping cloths that the surfaces need to be protected from. Next, we set up all the supplies I'll need, including plenty of newspaper for using underneath the messier aspects of etching. All that's missing now is the press!
For the acid baths, we're using our spare bathroom. It has a big window and an incredible overhead fan, so it's wonderfully ventilated. We store our mixed acid in a plastic jug, and only pour it into the acid trays when I have a plate ready to bite. That way, we can keep most everything under the sink unless I'm actively printing.
The only thing I haven't quite figured out yet is where I'll dry the prints.....