If you're in a huge demand area you probably won't have vacancy risk but your purchase price will be higher (more competition) so your returns will be lower.  

We are seeing some wild real estate market movement, low inventory and high demand.

Here's why:(1) You get to be a homeowner, with all the privileges and responsibilities that entails, and you get to learn about homeownership and maintenance without having to worry about pleasing (or not) and dealing with tenants.(2) Getting qualified for a loan as an owner/occupier is much easier and requires less down payment than buying investment property, and, as long and you follow the IRS guidelines, any profit you make when you sell may be tax free.(3) You have the option of buying a home that needs some work (generally cheaper, but also in high demand in this market) and putting in some sweat equity while you live there and/or getting roommates who pay YOU the rent (which is kind of like having tenants, only a little more intrusive).I wouldn't recommend investing in another city (like San Antonio) unless or until you know the other city pretty well, you don't mind traveling there on a regular basis, and you have a bit of your own homeownwrship experience under your belt.I'd be happy to discuss further anytime.

With that increase in population, comes an increase in demand for housing.

You can possibly make up some of difference with increased rent, depending on the demand.

Is there any other jobs I could put this license to use, that may not be as demanding as an agent position?

Unfortunately, these things tend to fester in an environment like we have now:   markets on upswing, lots of demand for contractor services from both investors and home owners who are getting ready to sell their properties. 

Theres a growing number of students in cyprus and a high demand for student housing but not enough supply.

The next thing to look at is your local market- what type of property is in greatest demand?  

If default shall be made as set forth above, then, in any of such cases, the Landloard may, by written notice to the Tenant, immediately declare this lease terminated, and in such event, in addition to any other action or remedy which the Landloard may have at law or in equity to recover damages or otherwise by reason of a breach by the Tenant of provisions of this lease, the Landload shall have the right to remove the Tenant by summary proceedings and thereafter the Landlord may reenter upon and take possession of the demised premises and every part thereof, either by force or otherwise, without being liable to any prosecution, action of damages therefore and have and enjoy the demised premises as of its former estate free, clear and discharges of the lease and of all the right of the Tenant hereunder; and the Tenant also shall pay to the Landlord upon demand all fees and expenses, including reasonable attorney's fees, incurred in connection with and in obtaining possession of the demised premises as aforesaid.