@C Rutherford  so I would send a formal legal type letter reminding her of the amount due and the arrangement if you don't want to pursue eviction now you could send her statement every month with the late notice showing her accruing late rent. x paid on x date,  amount due, amount accruing overdue by date. 

Stay open-minded, be persistent, and maintain your curiosity.

Out of curiosity, I looked at the original brochure for this property and NOI for this year should have been $6M with over $3M in cash flow. 

But out of curiosity 

As of this writing (7-19-2024) they have paid me back enough that I am in profit, but they still owe me $4,000 and that amount is accruing at a rate of +$500 per month.

.: Massive loss of accrued interest and principal????

👋It sounds like you’re bringing a strong mix of professional experience and curiosity to real estate investing.

That scarcity definitely helps with appreciation over time, and also gives you a stronger edge with guest demand when the STR numbers don’t pencil as easily on paper today.Out of curiosity, are you leaning toward one specific part of the Emerald Coast?

All in all the distributions were paid slightly lower than initially expected while the remaining is accrued. 

Follow the money and consider if accruing paying participants in whatever is the focus.