We were currently spending $850/mo for a local 1000 sqft garage space that was being used for storage and shop purposes.

Not sure if someone out there or a local company specializes in these type of transactions?

@Jamie Parker  I would start talking to local banks/credit unions that do investment property construction loans once you have identified the project and have some details. 

To kickstart your journey, consider networking with local investors to gain valuable insights.

Market research, local expertise, networking, property management, financial planning, potential legal and tax ramifications, risk management, and long-term vision are important factors to take into account.

There're lot of family that rather renting as long as their kid is within this school district.and here's another story, this is a condo that was 1.2 mil in 2016 and recently sold for 600k-ish in best location in the world (for the homeless lol) :https://www.redfin.com/CA/San-Francisco/1075-Market-St-94103... so yea, school district and local gov. has huge impact of condo appreciation (and de-appreciation) lol also if on want sample of condo complex that the HOA is simply broken and the homeowner is basically wiped out, there're bunch of them in Concord. 

A CERTAIN price point and product 3 bed 2 bath under 200k or whatever might be moving fast in a certain market but others are still selling at 2009 levels.Houses I am looking at locally in a certain subdivision anything 250k and under has about a 90% sell rate and moves fast.

Start hanging out with your local REIA. 

If you are looking 3-5 years down the road In my mind I'd want to have a "not to be under xyz amount" whatever that is to make it make sense to you, but then having the property appraised or using a CMA from a local broker to guid the valuation rather than zillow. 

You will need to furnish them and check with local regulations to see if this is legal but if you can you will make a lot more money this way. 3.