Originally Posted by pinkmomagain
I was also going to suggest seeing if the neighbor wants to buy the land.
Other ideas: Can you put a shed there to store things you'd normally store in the garage? Park your cars there? (maybe allowing you to convert the garage to living space) Alternatively, can that be a play area for kids? Not sure of the ages of your kids, but when they are older sounds like a great place to play ball (if it's not wooded) or put up a swingset, or something like that.
I wonder about the liability issues of having a swingset or other toy/play structure there. Wouldn't that attract kids other than yours?
Using it as a parking lot is genius. Pave it and then you don't even have to mow!