If you run into difficulty because you don't have experience taking care of property, you could always try an FHA loan.  

Try to run your business as if you would manage 300 units.

If you haven't run the numbers yet, I suggest you run a few properties through a calculator.  

The financial partner can feel confident when the person providing the TK property stays on in the deal...and doesn't just dump it and run.  

I called city hall and after getting the run around from 20 people I was directed to code enforcement. 

I just received my Real Estate Salesman License and want to cost out marketing materials and hit the road running.

Keep mind the rental will have several tax advantages.As for property management being done by family...you know them better than we do, but in general it is good advice to run your investing like a business.  

I'm always last priority or maybe they are running out of money, but for whatever reason, their communication, organization, and follow through are the worst I have ever experienced in business.

I'm also in Bettendorf and run an accounting firm that specializes in Real Estate consulting and compliance and also a property management company that specializes in single family and small multi-family properties.

It will be very helpful if anybody who owns/runs/invests in parking lots provide some guidance on how to go about it/pitfalls/problems in this area of investment.