Junior in College - Feasible to buy a property this summer?

[William Hammond]

I am currently a Junior in college and looking to purchase my first property as soon as possible but also considering the value of waiting until I am settled into my first job out of college. I go to college in New York City (so clearly not looking to invest there) but I live in Portland, Oregon and I will most likely be living here over the summer. My goal is to purchase small multi-family real estate (duplex, triplex, fourplex) and ideally for my first deal to be a house hack.

By working during college, I have accumulated $50,000 in savings and investments but I will realistically be able to deploy $25,000-30,000 toward real estate this summer. If I am in Portland, I could house hack a property to live in during the summer but my understanding is that I wouldn't qualify for an owner-occupied FHA loan since I would not live in the property for the majority of the following year due to school.

Is there a workaround to this problem (such as partnering with another investor who would live in the property for a year)? Is it worth investing in Portland? Should I seek deals out of state? I am really open to any and all feedback about what my plan of action should be and I appreciate all advice. I’m also looking for peers to work with and bounce ideas off of so so connect with me if you want to talk more about starting out in real estate investing. Thanks!