Like others have indicated you can do both. At 17 you most likely do not possess a bachelor degree to apply for the MBA, which is an extended time process.You can earn both real estate holdings and graduate degrees who is most important in the pecking order you will have to determine. You can do both but expect there will be interference at times. I was rehabbing a house, in a long travelling distance relationship, while earning my Master's in management at Harvard. So yes it can be done but also as someone stated you will need capital and experience such as credit that you can not receive until you're 18. It is a marathon not a track race (RE initially) to achieve both these major aspirations.
Read up on real estate (and college prep too), gain capital, be a little older (18) and approach one step at a time. (Note studies on multi tasking has proven it not to be successful, so avoid getting overwhelmed) You're dedication to review and study as well as where your heart wills you, will help you determine your priorities in determining how to achieve both. Great to be determined starting at 17 !
