i recently found out about HUD properties on HUDhomestore.com . im 21 years old have about 650 credit score . do you think i would be able to qualify for any hard money lenders or fha loans ?

You should. Would you be buying owner occupancy status? Be aware that for a year you can't rent it out or resell. Anyhow, try a credit union if possible. 

I just bought my first HUD home as a investor and used a personal loan from my credit union. Low interest rate.

What he can do is rent out the room and live in the house. 

What he can do is rent out the room and live in the house. I remember a collage student who qualified for a 4 bedroom house. He did not have enough from the rent if he lived in one of the rooms. So he rented the last room and lived in the attic.

Then answer about lenders is a yes... We work with investors and lenders. The lenders will do 90/10 loans on HUD properties.

If you are thinking about becoming an investor, you might consider going on-line and forming an LLC, and use that to take title.