I have an SE draft. Yes I know, hi ten hi ten. But its currently a singlespeed and I'd like to try fixed before investing more into a new bike. I've had it about 2 months and its actually fine, but to make it a fixed gear should I...

1. Buy a back hub and have LBS lace it to the old wheel (weinnman cn520)
2. Try a suicide hub
3. Buy a whole back wheel

I'm looking for the easiest, cheapest method to use. The suicide hub sounds dangerous but its been done by many. Any good places to look for hubs, wheels, etc? (basic, no tricks, track, deep, etc)

no suicide hubs, and a shop lacing your rear wheel would probably cost more than just buying a new rear wheel.

Just buy a new rear wheel and put your tube/tire on it. shouldn't cost that much at all

Well running a suicide hub would be the cheapest and as long as your using brakes it would probably be fine, but you won't get the full effect of fixed riding if you can't apply back pressure without unscrewing the cog.
Take a look around your LBS for a cheap fixed wheel and if they don't have any ask how much they'll charge to relace your rim to a new hub, worst comes to worst you can put a freewheel on a fixed threaded hub.

Buy a new rear wheel with a double stepped or double stepped / ss hub and call it done.

Suicide hubs are fine as long as you really know what you are doing, do it right, and don't plan on ever changing things as the conversion should be almost permanent.

A proper hub allows you more flexibility and it is less likely you will wreck yourself.

I would buy a wheel with flip flop hub and leave the old one as is so you can sell it.

I say go for another wheel on craigslist. You're in the sf bay area, I'm sure you'll have no problem getting a cheap fixed rear wheel/set.
The last wheelset I got off of craigslist, I paid 40 dollars. Nothing fancy, but they worked.

your current wheel isn't flip flop? then just get a new rear wheel.

I come at this as one who has built up and ridden suicide hubs (extensively), helped a lot of other people set them up and have never experienced a failure as long as those hubs were ridden within their limits.

I can't do this at my shop or our co-op because of liability issues but if someone is dead set on doing it this is how it goes.

You need to secure the cog and lockring with RED loctite and make sure things are torqued down as you won't be able to correct this after the loctite cures, rotafixing the cog into place is a really good idea.

After this the loctite needs to cure for 24 hours.

If you are a skidder this is not the set up you want as a suicide hub needs a brake.

Removing the cog and lock ring should require use of a torch and if you built it right getting the cog and lock ring off will be quite a chore... and there is still a high risk of messing up what might be a decent rear hub.

Don't do this to any nice vintage hubs... please.

I still ride one suicide hub... it has been going strong for 12,000 km and I have swapped the cog once and the wheelset has been used on a few of my bikes.

I know how safe they can be but I have also seen a lot of people mess them up.

+1

When done correctly this may be true but there are a lot of different homebrew solutions for making suicide hubs and some of them are certainly dangerous [hence the name "Suicide Hub".

again +1

If by chance you can get your bike set up with enough room for the cog to safely unscrew itself (completly before it hits the stays) than it can also be done reletivly safely but this isn't always possible.
Also brakes are 100% necessary with a suicide hub

FFS, just buy a fixed gear rear wheel for $90 and ride something you won't have to worry about.