The Breakdown: At FHA 3.5% down the leverage on this property approaches >30:1 and that is incredibly attractive for a first time investor.

I would approach it as I would any other contractor.

Thanks,Conrad  Hi Conrad, thumbs up for your approach!

Or you may approach a tenant after a sale and have him sign one or move out ( budget for an additional expanse).

Then, any true profit after that gets split 50-50.There are a lot of nuances about how either of the parties may get paid "normally" but in general this is the approach I'm toying with taking if I try this scenario some day.

@Dylan LeggYou can also do a "Drive For Dollars" approach with your direct mailing.

If you want a hands off approach this is not a bad deal.  

Any suggestions on approach for taking the parking away? 

Its an energy focused certification opposed to LEEDs more holistic approach.

I agree with the others in their approach, which is free :)  I usually send a welcome letter and then follow up in person with a visit to the property.