The fact that it's an Insane Asylum just makes this abandoned structure all the more cool. It's not a huge area to explore, but it's great for dramatic photography. Just be careful not to get caught - this place is one of the most likely to get busted (if you're not smart about it).
Park wherever you want - people live in the apartments surrounding this site, so anywhere you go won't be suspicious. The asylum is the building in the center. Use only low-power flashlights because bright ones (such as the iPhone flashlight) are very obvious from the outside and can cause onlookers to call the police. Go at night or early morning to avoid people entering and leaving the apartments.
Have you been to this site? What did you think? Leave any tips of your own or observations in the comments to help other explorers!