I even do my Lease Options through escrow to make sure the mortgages are paid and seller's don't walk with the cash leaving me a foreclosed property and no way to collect.

They also have a "reserve" fee in which they collect 10% of every credit card transaction and hold it for 90 days before releasing it back. 

I would like to get your thoughts/advice on how to proceed so that I can use the collective wisdom to find the best path forward.

Once you have all the evidence gathered, submit the tenant to collections and maybe you'll get some of it back, but don't count on it.

In exchange, I'm thinking that she would collect all the cash flow and potential equity until I refinance and get the loan originated in my name...

In practice, the landlording equivalent of "ambulance chasers" will proactively market to renters, offering to sue their landlords over trivialties so that they can collect this funding and profit.Get out of Colorado.

She finally got back to me in December only to notify me that she had retired and that I could come collect my paperwork.

One owner is a wealthy casino owner who collects land and may consider selling but for way more than its worth.

Actually you made a noob mistake.If the tenant has $100 on Friday night, if you actually want to see it, collect it there and then.

The note shall be referred after default to an attorney at law for collection if....."