17 year old looking to house hack in the next year

[Shane Powell]

I am receiving a settlement of almost $120k at age 21 due to a personal injury lawsuit when i was younger. I am looking into receiving the settlement when i turn 18 so that I can buy a duplex/triplex/fourplex with an FHA loan and live in the smallest room and rent out the more expensive one(s). I'm going into my bank today with my mom to get a secured credit card so I can get my credit built up. I'm going to start working at starbucks to make sure i have steady income. I have a recently started business as well that makes me an extra $200 a month. Should I consider other loan types? Would it be smart to buy with cash? (Maybe a $70k-$90k duplex and put some work into it). I live in Sonora, Ca and would be willing to relocate so long as I'm near a larger city with somewhat desirable weather. Also, how big of a loan would i be approved for if i earn ~$20k a year at starbucks combined with the rental income?

[Terry N.]

@Shane Powell,

     That's great that you're looking into this at your current age. I went to the Marine Corps at 17 because I had no vision. You mentioned getting the settlement at 21 but then said you're looking to get it at 18. Can you explain? Will you get it at 21 or 18?