Flying a Jet Privately
Firstly you would need all the tickets mentiones ME IR. The C500 also requires a type rating then you have to do a single pilot rating as the C500 was not originally designed as a single pilot aeroplane unlike the CJ!.
If you obtain the rating then keping it is very difficult legally.
As has been said you will have major issues with insurance but really unless you have a few hundred hours plus on complex ME pistons I wouldnt even think about it. Speeds over the ground in decent 350knts plus means things happen very quickly.
If you are serious then it is a very rewarding to get your rating and fly what is very nice aeroplane all be it very old technology as a single pilot aeroplane it requires alot of work the CJ1 is much easier.