In your shoes, I would ask several questions.

@Peter Padalino - couple suggestions, as I've been in your shoes.  1) Go crazy on energy efficient items - all LED bulbs, NEST or EcoBee thermostat, etc, etc.  2) Get someone to quote solar power for the roof if you have APS - I went solar and LOVE IT for rentals. 

Rents rose 2.9 percent year over year through February.

They pay the mortgage and my utilities (essentially living and owning a home for free - in your shoes you would be cash flowing).Then, depending on what you are doing for a job (or college), it'd be good to establish yourself at work and save enough for your rainy day account (savings in case you lose your job) and then start saving more for a rental property.

I would suggest going that route if I were in your shoes.

@Tom Smith If I were in your shoes, I might rent for 6 months and figure out what I wanted out of my living situation as well as where I'm likely to get the best value.

https://www.har.com/content/newsroom/Houston Real Estate Highlights in May: Single-family home sales rose 1.0 percent year-over-year, with 8,157 units sold, the second largest one-month sales volume of all time;Days on Market (DOM) for single-family homes increased slightly from 51 to 52 days;Total property sales edged up 0.6 percent with 9,721 units sold; Total dollar volume increased 2.0 percent to $2.8 billion;The single-family home median price rose 3.4 percent to $243,000, which represents an all-time high;The single-family home average price increased 1.3 percent to a record high of $305,511;Single-family homes months of inventory was flat at a 4.0-months supply, the highest level since last August and equal to the national inventory level;Townhome/condominium sales fell 6.4 percent, with the average price up 2.5 percent to $213,912 and the median price up 3.0 percent to $170,000;Leases of single-family homes declined 1.8 percent with the average rent up 3.7 percent to $1,845;Volume of townhome/condominium leases dropped 22.6 percent with the average rent up 1.0 percent to $1,580.

Ideally, the solution will also be something economical    What would you do if you were in my shoes?   

How'd you resolve this and get business back to usual, and what would you recommend someone in my shoes should be looking at as a best course of action?

If I were in your shoes, I'd probably have a frank and friendly with the tenant and talk a big, threat free game, but point out that her lease does not allow for animals and that she did not disclose the animal to you.