Sounds to me like your first move should be to sell your NJ rental and invest the proceeds somewhere more profitable.

The contractor, more accurately the foreman, decided (and I agreed to) a larger bathroom.

I'd recommend keeping it simple, clear, and unemotional and enforce the lease or you will burn out or not make any profit.

I am looking at a park that is pretty awful, which too me is exciting because I see lots of potential to take this poorly maintained commercial property and polish it up for some killer profit.

Hopefully I have a little better luck here.My current employer offers an exceptional benefit through PST, or our profit-sharing trust, program.

But that’s not to say you can’t do the deal..Instead of going the hard way, I recommend an easier, more profitable path.

See BP Podcast 229 for more information.If I were in your shoes, and depending upon how good the friendship was, I would ask her for a portion of the profits she's made thus far, since you gave her a "friend's rate" on the rental and she's technically violating the lease, it's only fair.However, since you think she's not going to be honest about what profit she's made, I would assume you really aren't very good friends, just very old acquaintances.Regardless, I would terminate her lease at your earliest opportunity and begin short term renting it yourself.

@Ethan CookeFour of my furnished rentals are 4-bedroom or larger houses. 

If you're not a full time builder, you're going to have a really tough time building a house and turning a profit.

Also, you should look for opportunities to buy below market and force some appreciation, so that you are not 100% dependent on cash flow to make all your returns, you will be insulated to some degree from short term market fluctuations, you create multiple profitable exit strategies for yourself, and your cash flow numbers should also improve to boot.