non homeowner starting out

[Bob Cobb]

Quick explanation of my situation before I get to my question(s). I currently live with my parents, and am sitting on about $150k that I've saved. I'm looking to buy my first house in the next year, just not sure where. I work online, so I can technically live anywhere. I really want to get into real estate investing in some way. My plan right now is to either buy a duplex and live in half, or a normal house with a basement apartment and rent that out. I want put enough down on the house so the rent covers the mortgage, but that will all depend on where I live, since some markets that I like are a bit pricey.
Any thoughts on this? It probably seems like I could do more with my money, but I'm rather risk averse and would prefer to have the security of my own home before I really invest in other stuff. My thought is that I would use that first home/duplex as my first full rental property, and I'd be able to save up for another property fairly quick with that rental income paying the mortgage.
Tons of info here, Im reading around like crazy. Thanks