Newbie question to fund my first deal

[Breelon Bryant]

Ok here is the issue:

I have found 3 properties I have viewed, ran numbers (look good), and ready to place a bid.

Originally want to use FHA loan to "house hack" either one of the properties BUT it is taking forever for the paperwork and underwriting to complete in order to know how much I am allowed to borrow

My mortgage lender (close friend) says that I should wait before placing a bid in order to know my borrowing $.

What I am thinking: Place the bid anyway and if we negotiate and I get an acceptance on the property, FUND IT WITH A PRIVATE MONEY LENDER 100%. Next, once or if my underwriting process is complete after all this takes place, maybe refinance it to the FHA (to get a lower interest rate). Or possibly keep the private loan and pay higher interest rate (without PMI) Is this possible? Would this be a good idea?