They're generally low wage employees, not overly sophisticated, and their allegiance to the owner is probably hit and miss.

So I initially was thinking about opening an SDIRA but now I am considering Solo 401k and perhaps eventually invest in syndications but I don't own any business except for my rental property that I earn rental income.Would it be a good idea to open an LLC with myself as the sole employer and employee (perhaps my wife will join me once she gets into a consulting job) I am also planning to do some side hustles such as teaching part time in a University and working as a part time tech consultant.

For a one or two-member LLC, with no employees, this is almost always the case.

I got back $570K from the employee retention tax credit which I am allowed to spend however i'd like.

Generally speaking (and the rules are very similar throughout the US), a business owner must have Workers Comp if he has any employees.

I don't think so personally.. if its the owner they have been getting nasty letters for better than a year .I always knocked or sent one of my employees.. but most of the time I did it personally so I could size up the situation.I could write a book or a white paper or a blog on all my hundreds of deals I bought and doors I have knocked.. but basically I want to look at it.. 

Question: How can I invest as a NEW 1099 employee (Ex. independent insurance agent commission only)?

Oh how that was difficult, making payroll, dealing with maintenance, hiring/firing employees, dealing a hotel flag, you can only imagine. 

My tenants loved it, I had the employees and the equipment to do it, plus this allowed me to inspect the properties to do preventative maintenance.  

Depending on how you hire the contractors, some could be determined to be employees under NY law.