If I decide to go with model of covering all utilities then rent would be $550-600 a month per student.  

The asking price for the home is 132k.OPTION 1 – Cash After Repair Value = $132,000 (estimate)Discount 80% of ARV = $ -26,400Repairs (Price per square foot) 1,190 x $5 = $ - 5,950Cash Price (seller pays closing cost) = $99,650OPTION 2 – Sandwich Lease Option – “Perfect Tenant Program” Term: Minimum 5 yearsOption Price (buyer pays closing cost): 125,500Option Consideration (non-refundable fee we pay you): + $500Monthly Rent: $950 (profit + $100 cash flow per month)Total profit (If completed full term): $132,000Note: We are the tenant-buyer, but we will sub-lease the house to another tenant-buyer.

Per the report, it is only $250k.

using it as  a STR or long term or vacation home doesn't matter .Miami/Broward pays about 1.9%-2.0% of the purchase price per year as an investor and 1.6%-1.8% for an owner occupant with homestead exemption.

Hi Jaiden, I do not know the Salt Lake area at all but the question I would have would be do you feel, in the current condition of the property, that a cash flow of $250 per month is enough to maintain the property.

More control on how much you actually pay per month and you aren't paying if you aren't using it.

Since there aren't other multi-families in the area to compare to, should I use the average price per sq ft instead?

As per my experience, personal credit is more important in real estate investing than business credit.

That's like 75 cents on a dollar deal. 

That aside I would like to see 8-10 percent return on anything I buy.