Give us an idea of what you want to accomplish, what you know about real estate, contracts, financing, and why you picked Subject To and Lease Options.

Then you have to determine when you are close enough to you 80/20 to worker with a lender and get the appraisal.I refinanced out of first FHA 1.5 yrs after purchase.

How and why did you pick that zip code?

What to look out for in determining potential neighborhoods (I am not local to the area and is curious on how "hot" neighborhoods started out and what signs to look out for)How bad can a bad investment be?

As you've probably seen, there are a lot of great resources here including the excellent BP podcasts.I'd recommend that you pick one strategy or niche that appeals to you most and focus on that.

Pick a solid B-Class suburban area.

I am going to be on a stay at home vaca soon and with out sounding desperate "<<<<< is noob" was wondering if anyone in the SLC area wanted to meet up for some coffee or lunch or something looking to pick the minds of some experts already meeting a guy on monday but the more friends the merrier:) message me or comment below thanks in advance  

Depending on which neighborhood you are in will determine the rental income. 

@Chris Masons the limit of rentals under an Umbrella policy is determined by each insurance carrier.There are other Umbrella programs out there that have different limits, or even no limit.

Have you determined your criteria yet?