If the apartment doesn't have one you really can't rent it legally and you will always be in the wrong if something goes wrong.If it wasn't for illegal in-laws a lot of people in the Boston area would be in even more of a pinch, but that still leaves you in a precarious position liability wise if there is a problem.

I started to realize that whole thing wasn't for me which is why I started looking at different avenues (I have experience in sales, marketing and operations and would be open to full time positions in the real estate industry to really learn if you have any ideas!).

Then, when I move on to the next deal, I can rent out the unit that I had been living in and will have a positive cash flow and good cash-on-cash return. 

What I can tell you from having watched them myself is that you're in a good position having $80K to work with.

I've seen a tenant calculate how much damage to the house she should cause because she was positive that she wasn't going to get her deposit back.  

The second position would be for a term not exceeding 5 years. 

I believe you have missed a crucial step here that possibly puts you in a bad position where it might not be possible to deny the wife accessDid either party give the 30 days notice required to terminate the existing lease?

Ordinary income is not the same as salary.

I am looking to buy & hold rentals with positive cash flow. 

The large scale commercial development he does at Grey Street Partners certainly has a positive impact on San Antonio.