I've thought about this post.
I'd wire it myself, but you sound like it's a big deal for you and the others.
I just doubt seriously the wiring is sub 14 gauge, although the ground may be suspect.
Is the service from a pole, or from a house? Is the Garage detached? If from a house and detached, (you don't see a pole) I can almost promise the service is too small- probably 8 gauge, or even up to 4 gauge if the run is any distance is way too small. If the garage was added to the house, it could have as little as a 14 ga. single feed, single aluminum foil wrapped fuse in the 40 amp fuse box. If it where me, I'd find these facts and determine if repair or rental is better. I don't even know how old the house is.....
I'm not an electrician, but (My cousin Vinnie) my step father was, his father was....

I'm just a mechanic, the guy who services or fixes the band van.