It's in a newly developing area with houses being built and other lots selling nearby.

Cost to build is $350K (I am managing it all myself and calling in favors around the city to get low rates on materials and labor).

I would focus on a duplex first so you learn house hacking and management of one tenant.

Not sure if you have a single STR or manage a portfolio, but I’m only managing one STR right now, and wondering how to set up that kind of payment?

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

She also mentioned that they’ve been in real estate since 2006 and have managed over 30 properties (though this is more of a side business for them), which suggests a mom-and-pop operation.

You could reach out to a few Property Managers in Salt Lake City to see if any of them would be able to give you advice for the area, as they would be familiar with the region and what to expect from the investment! 

Ease of management?

A great way to get started if you currently have a W2 job is to buy a house hack like a duplex or a fourplex where you can move into one of the units and continue to rent/manage the other units.