There were an estimated 800 STRs operating in the township before the ordinance and based on a surge of new properties for sale, some of those operators are getting out. 

Cleveland, Ohio is also not a bad option. 

I have definitely thought about investing out of state and plan to explore that option once I can get my feet wet here in Long Beach. 

Assuming she's on a month to month and your local laws only require 30 days' notice, you have two options.  1) Give her notice and tell her if she finds something sooner (eg June 1) and wants to move before that, you're okay with it. 2) refuse payment for the rest of May's rent as she's already late and start with the eviction.  

If the property is below $100k value, you could refinance after 6 months based on the new appraised value.

Quote from @Michael Morrongiello: That is also my understanding as wellThe junior 2nd lien gets wiped out it gets  wiped out from that property but the debt remains with teh borrower.. although unless its a commerical deal with a PG rarely do banks go after the borrower just based on the note. 

Make your offers based on the cash flow that you need.

@Jonathan GreeneAgree 100%. be transparent and if good news great - bad news - still share it with investors - realize they are making life choices based on what they may be telling you as an example of someone has $100k investment and you fear it’s going to go to foreclosure - well maybe they would not spend $10k on that vacation or buy a new home knowing they are getting wiped outUnfortunately there is a group of guru syndicators who are great marketers / sales which some I have personally spoken with and they are so full of it and just like to hear their voice their ego gets in the way.

I would LOVE any local people to touch base!!!

@Ryan Snelson, based on what you've written, I would add that you were not actually in a Joint Venture with this guy.