There were lease violations disrespecting the other neighbor's leased space and harassing the other neighbor and they smoked in the property against lease, lied about conversations, has made up stories about plumbing issues that plumbers couldn't find causes to, tried to get a dehumidifier and force me to pay, accused me on two different occasions very agressively in regards to the heat/electric service.

As long  the tenants pay the rent each month, increasing their rent will be very tough and getting them to leave will be extremely tough. 

If you are prepared for the costs involved and the modifications needed to the property to make the basement unit conform, the pay off of creating an extra rent producing unit is huge. 

At a high LTV your leverage will be magnified.If your cash flow really is break even (I have my doubts) then with the magnification resulting from leverage, you could produce a fairly good return (ROI from leveraged appreciation, equity pay down, tax benefits).Good luck

@Simon Packman Not sure where you’re located but I have Vermont Mutual in Northern New England for most of my properties and the most I’m paying for any of them is around $4400.

On the other hand, I’m hesitant to simply pay down more of a property, as we don’t need the immediate cash flow.Fortunately, both my wife’s job and mine are recession-proof, which allows us to be a bit more aggressive with our investments.I’d really appreciate advice from investors who have experience with frequent moves or military service.

To be clear, you are not paying off the 80K mortgage.

It was held by the previous owner for a very long time, so I wouldn't be surprised if some basic facts about the house are incorrect.I was making an offer on a house a couple years ago and discovered that the owner was paying taxes on an additional house that was on the neighbors lot and didn't know it!

I know you want to go full time and jump in, but I'd recommend staying with your day job as long as you can - it makes your life a lot more comfortable to have a steady stream of income to pay the bills every month!

I also have a mortgage on this property paying $683 a month.Now I'm deciding should I continue waiting for a possible tenant or should I just sell the property.