He could always file BK to buy some time.

You will find that it will cost around $1800 to do the required asbestos test, secure permits and do the tear down. standard 2 car garages with pad run around $14,000, plus or minus.

We have run the numbers and expect we could get about $45 per space and would squeeze about 250 *uncovered* spaces on this land.This would require grading, putting down road base, security lighting, cameras, an 8 ft perimeter fence with gate (not automatic). 

My question is what should I do 1st: Secure preapprovals through various Hard Money Lenders (that way I know what how much I'd be able to work with)Place offers Thanks BP

I marketed the unit and screened/accepted new tenants, accepted holding deposit in secured funds.

I would obviously like to get my tenants secured and locked up in writing as soon as possible but issue is I don't have formal land use permits as of yet nor have I started the process - all I know is that QSR/coffee shop/drive thrus are allowed according to the zoning code.

It might be $100 extra to file the deed change? 

@Chris Roche I don't think so- just first last security and key deposit 

Unless you want to have an in depth foundation of modern value investing, Security Analysis is overkill because it doesn't have much in it about REI that you won't get from The Intelligent Investor. 

Thanks to your advice, I feel comfortable that my filing deadline is May 15 and have some more time now to figure out the rest!