Whoever is responsible for this I applaud you.http://www.10tv.com/article/11-year-old-girl-saves-money-college-flipping-houses

I have 1,000 and wondering if i should continue saving for my emergency funds or gamble and invest it.

Business experience and saving money will be of the greatest value at your age.

It's listed at about $200k and I'm definitely thinking of doing FHA financing but I'm unsure of whether I'd qualify or not for the $200k loan even though I saved enough for the down payment and closing cost, since I only make $15k a year working part time and going to school.

So since my girlfriend is currently on title and has owned the property for 16 years, we could save a big chunk of change versus an investor right?

Better to do it yourself and ensure it's done properly while saving money. 

I would like to use a HELOC for the down payment for the property and I only have a few thousand is savings at the moment.If I'm buying a property for around $80k-$100k that cash flows $100-$200 a month after vacancies,repairs,etc then based on the above what do you think my odds of being accepted are?

I also said, that I probably will save him 2 or 3 times that fee in my negotiations with the seller.

Maybe you should save for a down payment before jumping in or look for a more affordable property or property in another area that is more affordable.One more thing: Know the strategy you want to use because that will affect your financing perspective.

You also need to let any savings you have sit as well.