Im 24 years old with a credit score over 760, I make a little over 100k a year at my job and I can comfortably save about 40k each year.

Your best bet is to really research markets you feel comfortable investing in.

I think it sounds nice and clean and comfortable-right on trend. 

If you are more comfortable with a lease that you created (b/c you know it's a good one) that shouldn't be a problem, but a MTM would be sufficient with a note that you are waiving your normal lease requirements due to their long history of good tenancy etc.

Because of Ogden's progressive planning & zoning and comfort with higher density projects (second only to Salt Lake), we are seeing a bunch of 10-50 unit multi's going up all over town. 

Say you think it’s $230k for instance, you’re comfortable with that, neighbor is comfortable with that because you’re “saving money”.

If you play around with the numbers you can try to maximize cash out and keep it cash flow neutral, assuming rents don't go much below where they are now.Your tenants would be paying down the mortgage and you would potentially be making money on that equity.Of course you want to be responsible and have ample reserves.

But you cant really start in a market without a handle on the how and expect to feel comfortable buying something.

Waive as many contingencies as you can/are comfortable with ie: home inspections, appraisal (at least up to a certain amount).

You need to find what makes you most comfortable.