Legally I dont know what that means but the OP shouldn't have taken advantage like that in the first place so hard to find too much sympathy for him here.Some of his comments reveal his intentions: for example, saying “I don’t have much money” to suggest he is not immorally taking advantage of her.

After talking with this tenant she revealed to me that she would get headaches throughout the year and couldn’t figure out why.

So far my search reveals that in major cities parking "lots" are near the million dollar range and parking "spots" run 30k to 100k.

Granted an updated offering could reveal a much healthier company, I would need to see it to believe it. 

I just wanted to get a better grasp of what is going on before I reveal all my cards to the developer.

Your question reveals that you have not put a lot of work into yourself or your plan.  

I'm with Marcia in how to phrase it - I also call them maintenance and safety, and encourage tenants to tell me if there are any problems.While I haven't had an eviction yet, I'm also hoping that having evidence that the tenant either did not report any problems at maintenance time, or that problems were revealed and repaired will prevent any last minute shenanigans about damage that I didn't address.

Very in depth post thank you, eye opening for a newbie like me, if you were just getting started like me,  what would be your TOP 1-3 data information source you can read up on that will help you make better multifamily rental investment decisions, that will reveal real estate investing forecasts that can alert you of opportunities or potential crashes that could hurt your current or future plans for investments.

Yield play is typically for institutional (very large) investors with lots of cash to buy unleveraged.Underwriting reveals opportunity in making returns and determines what cap rate (or purchase price) can be paid to meet your target.

Charles, did the due diligence reveal the types of problems mentioned in some of the posts earlier?