I probably didn’t really help but this is so unique my original thought pattern changed several times!

Also bear in mind that depending on age and type of construction, the garage may not be able to be permitted as 'living space' due to slab PSI/steel pattern/vapor barrier.

This will trigger a CTR to the IRS, which is not a big deal, unless they see a pattern of this. 

After you’ve seen 10-20 closings this all becomes a matter of pattern recognition. 

Peter this is a lot to unpack and here are just a few things you need to look at, there are many more so just take this as a first step overview1. how many investors will there be2. what is the investment % of each person3. are you going to have each person as a equity partner or some equity, some just strictly investors being paid a determined amount for their investment4. depending on the above answers you could simply go with an LLC but depending on the answers you may actually need to go into a Partnershipyou are for sure on the right thought pattern though as you need to have a lot of these questions answers before you can move forward and you will need to have all parties agreeing to the terms.

However they would issue the loan only to individuals and it sounded like it is very unlikely to get the loan under LLC's name because that will have some pretty complicated terms that nobody would want to accept. they told me that we can get the loan personally and we can transfer it to the LLC afterwards.now we patterns live in different states. how easy or hard it would be to transfer the property to the LLC later on?

Eventually, patterns connect. 

Occupancy trends, population trends, employment trends, competition, traffic patterns, economic development programs and priorities, zoning, and permit filings are some of the factors that may impact your plan and the future value of the property.

Just go get it done, then refinance later on when rates drop (as part of the 40+ year pattern).

Watch what retailers are opening in the area, how traffic patterns effect accessibility to your property.