Hard Money First into a 203k FHA Loan?

[Victor G.]

Hi I was wondering if this would be a good idea even though it may be risky. I would like to start my Real Estate Investing career through a combination of financing options . Would it be a good idea to get a hard money loan to rehab a house then refinance into a first time home buyer mortgage program, even if that's possible, I'm not too sure with the rules and regulations. The reasoning for doing this is I hear that FHA loans and other traditional mortgage loans takes much longer and are given less priority to sellers and I don't want to lose out on any good deals based on waiting for a loan approval. After being a owner occupant for a year or two I would like to resell the house.

Thanks