The bigger thing for you will be to make sure you are established correctly before you buy anything in the US.

5:    Issues Regarding Possession6:    Buying Properties After the Auction7:    Researching Property Information8:    Lien Priorities9:    Properties to Target10:  How Much Should You Bid?

Our Property Management Team has taken the correct steps to make sure your property was repaired from previous tenant damages and marketed immediately in search for a new tenant.

I need homeowners insurance, insurance to over my rental and umbrella policy (to cover me) for both of those if I’m correct?

If you plan to buy multiple properties a year you will save on commission, it’s another source of revenue,you can bid on multiple properties, it’s leverage to network with other agents, you learn the valuation of property, and most importantly you move on your terms.Having an agent license is very beneficial when starting out and you have a full time job.

Hey James, to clarify you weren’t asking how to Brrrr, but rather can it be done in the Utah market, correct?

@Anthony Bright - The answer provided by @Harjeet Bhatti is only partially correct.

He was asking for the process and I explained this to him.....please correct me if I'm wrong:Since he and the seller are discussing directly as his landlord, I said he'd be best to use a real estate attorney and title company, leaving Realtors and commission out of it. 

. , you're correct.

Since you're a newer investor, I'd expect your rates to be around 12% and 3pts with 10% down payment.Your comps should dictate what you do to your house (in regards to that extra bathroom), not your own personal opinions or anyone else's.See if you can bring a contractor (to get bids) and inspector (to find out what's wrong with the house and determine your scope of work) to the house.What program are you with?