I've been considering the same project. My main concerns are bike stability and cost. I also have very little space for storage when not in use. My first thought is to ride onto a lowered platform and put front wheel into a chocking device. I'm older and want to work from a stool so I do t need to go up 30" like commercial lifts. I can lift one end at a time then set a jack stand device. Some wood is OK but pivots, bearings and locks need to be metal I think.I've looked at a lot of designs online. I always start my projects with lists of desires, concerns, limitations, ideas I've seen, and items I want to avoid. Keep a log or tablet and add things as they come up. Make sketches, quantify dimensions, loads, and geometry parameters. Get some pricing on materials you think you might use. I frequent salvage yards, yard sales and street side discard piles. Repurposing stuff keeps some costs down but can increase other costs or complicate design.