Refinance HML with a 203K Loan

[Shawn Abe]

Does anyone know if you can purchase a property with hard money, and then refinance it with a 203k loan? I would by an owner occupant. The only reason for using hard money in the first place would be if they want quick closing. 

Also, can you use a 203k loan to buy an As-Is property? I know that the loan lets you wrap rehab costs into it, but does the property still have to be decent (would qualify for conventional financing)?