Four Plex on FHA Loan with minimal credit history?

[Aidan Wilcox]

Ive got my eyes on a 120k fourplex in my area with a fairly decent cash flow. However the specifics of the deal aren't the important part of my question.

I'm 18 years old and this will be my first property if I'm able to claim the deal. The problem I'm anticipating is that with my young age and short lifetime at my W-2 job, I'll have trouble getting pre-qualified for an FHA loan. I make 26k a year and could eat the cost of the monthly expenses of the property in the worst case scenario.

I don't have a long credit history but to my surprise, I have a fairly high credit score according to CreditKarma.

My question is:

Will a bank or mortgage broker give me the light of day?

The property isn't much of a fixer upper and is only worth the investment as a personal investment. I'm not completely committed to this deal but I'm using it more of a case study for when I am fully pursuing a multifamily.

My next approach would be to abandon the deal and look elsewhere for a multifamily with owner financing options.