Okay... here goes. I've been reading on here for quite some time. I don't have a background in acoustics and have greatly appreciated what I have learned here.
Last March, I took over a studio space that a former Nashville producer vacated after 8 years there. I mainly took it for the isolation booth, which I badly needed (I have plenty of friends with legit studios and have been using my space for vocals and overdubs). It has been fantastic, but I am losing a ton of time traveling to and from.
So I have decided to build out my basement. I am currently working with a dozen promising young artists and have produced for major labels over the past three years, so I really need this to work. I really should hire someone to plan this out, but budget is a consideration. The less I spend on this, the more I'll have to support my artist friends and getting them out there.
The build: Right now, our basement is nothing but concrete foundation and concrete floors. Here are the dimensions of everything, as it sits. The ceiling is 7'6" from concrete to the bottom of the joist. We have wood floors above this space, so I'll need to treat for that. I know I'll lose some space doing that, but I'm trying to lose as little as possible without compromising performance.
You can see the room I've got to work with by viewing the attached jpeg.
I have some material to work with. I picked up these fiberglass panels from a guy giving them away on a Sunday morning whose wife told him to get rid of the band or her. I now have the panels.

I'm not sure what they are? I'm assuming OC 705. They're extremely rigid and I've never seen any pictures with a paper backing like this. Anyone know what they are?
Anyways... I look forward to the build. My artist team and a few construction buddies are pitching in to help me pull it together. Thanks in advance to anyone who takes their time to make suggestions and give me guidance. I'm extremely grateful to you.