When dividing your focus, your multiplying your failure potential rate. 

Once you start establishing relationships and you're doing enough business the good contractors will start walking your potential projects for free.

We would like to buy property in a strong market with good appreciation potential and Utah is a place that we are very familiar with (my wife grew up there and I lived there for 6 years).

The appeal includes lower vacancy risk, higher rents, and a diverse range of offerings, potentially strengthening your portfolio.

What are some potential pit falls to avoid as I begin?

At today's rents that's decade(s) of net rental income even when taking into account any potential increases.Rents however would get $3k/mo on the high end, and more realistically around $2.6k/mo.

With the number of available properties being that low you could honestly analyze every one of them so the specific zip codes and areas aren't as important as if you were looking with criteria that offered hundreds of results.I'd recommend getting on the list for some local wholesalers to help and increase the number of potential properties that you are exposed to. 

I'd love to chat with potential investors to introduce the opportunities of investing out here.

I have a goal of getting into multi-family properties and I felt like this property had the perfect potential of getting me there, offering an unfinished basement to create a split level duplex.

For any reservation over 30 days you really need to have a state-specific lease in place to establish the lease terms and protect you from a potential squatter situation.