My parents own a 1031 Exchange, single tenant property and the lease is coming to an end.They purchased this property years ago and they have used it for their retirement income.They've asked me to handle the property for them and I'm not sure how to proceed.Does anyone have any experience renewals involving a 1031 exchange, single tenant property?

Let them handle all of the headaches, claims, ticketing, if you want to automate, rates, rate adjustments, peak rates, etc.  

., and am all ready to go but have held off on pulling the trigger because im not quite sure how to handle a couple of complicated situations:1.  

Although I have been investing mainly in rentals for the past few years (both in my area and out of state), my first purchase has been, by far, my most challenging.

One of the big challenges I had was putting good teams in place - finding the right contractors takes time (and in my case plenty of 'tuition' paid along the way).  

If you have a little extra cash you can always set up a VA (virtual assistant) to handle many small tasks that are involved in sifting through the rubble to find a great deal.  

Would you handle this differently if he were to produce a copy of his lease agreement with the terms he has stated?

Put them in somewhere near the door handle (punch a hole in the corner and tie a loop with string) so you KNOW they will see it when they go to open their door.

@Matt SwearingenI may have misread the initial part of the thread, but paid parking and rent of a flat are two separate matters and should be handled independently.   

That being said...in my past I have had some challenges.