Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

For most investors, to provide true separation would be cost prohibitive (between $10k-$15k). 

We're stuck, cost us too much to cancel at this point but know that we will NOT renew anything and have multiple reminders so we get the cancellation notice in on time.

If you are going to raise equity, you appear stronger if you can originate bank debt at a lower cost than alt. lenders.

That said there are some nuances and requirements to property implement interest tracing so ensure you talk to your tax professional ahead of time and keep the funds movement as clean as possible. 

It has good integration, is cost effective, and the direct booking feature is pretty good!

Definitely screen properly and don’t cut corners!

Even if it was $100k, 32 units would cost $3.2mm to build.  

As mentioned take a smaller cut to complete a deal if necessary.

If any damage arises from her negligence she will be getting the bills for damages, plus costs of collecting which you bill as well as your attorney in addition to the termination of her lease.