So it's likely is a local question, depending on regulation.

As long as the tenant does not violate S8 regulations, you should receive regular rent payments.Again, that really comes back to screening. 

Not sure since I don't know the US regulations on this. 

Just get the contract with a tow company, give out a parking regulations/rules sheet to all tenants. 

Otherwise you might run into compliance issues. there are a lot of regulations with lending to owner occupant.Licensed mortgage broker maybe able to help you structure it so your loan is in compliance. 

Or are you asking what options you having in structuring the deal, ie syndication, partnership, etc.When syndicating, you also need to abide by SEC regulations.

Fines should be based on incidents not just a blanket regulation stopping it.  

One reason I like commercial paper not nearly as regulated to basically unregulated compared to owner occ notes.

If the property is in an HOA community, just check the regulations to ensure you can do whatever you want with the garage.

On that JV each one of you would have active roles according to your areas of expertise.If you have the idea of  bringing passive investors into the deal where they only provide the capital and have no active involvement in the execution of the business plan and operations (ie passive investor), then you would be moving into Securities land and that's an SEC regulated world.