We can also lend to both individuals and LLCs.I'd be happy to share my experience as both an investor and as a lender.

Assuming 20% down and a 7.5% rate (which is about market) you'll go from 9-10% to 15-20%, nominally. 

In addition to conventional loans and FHA loans, if either you or your wife are veterans, the VA also has a rehab program.I'd be happy to discuss my rehab experience both as an investor and as a mortgage broker, and at least help you think through your options. 

Wasn't for me.I'm not affiliated with the company, although their founder @Brandon Hall is a colleague and a friend of mine. 

Right now the only utility at the garage is power so basically I am starting with a frame and a roof. 

After a couple years and a couple different programs I can confidently say skip them all except Vena Jones Cox's the Guru Manifesto. 

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

Start with durable, high-quality basics: plush towels, soft linens, and a fully stocked kitchen with sharp knives, pans, and essentials like oil and spices.

You have received some great recommendations and if you are yet to decide on an Investor friendly to work with, you can send me a DM and see if we are a good fit.I do provide free mentorship and a lot of free resources and connections to anyone I work with especially beginners like you. 

Negotiating favorable terms is both an art and a science, and in real estate, it's a critical skill that can make or break a deal.