Buy with Hard money, refinance with FHA?

[Timothy Ahn]

Hi BP!

Beginner Real Estate agent/investor in SoCal interesting in BRRR'ing single fam/multi fam, but potentially house-hacking my first investment.

Have a question about the Refinance process. Would it be possible (or prudent) to buy a property with a hard money lender, and then refinance with an FHA loan? FHA loan sounds enticing due to low interest rates/down payment, but am also hoping for cash out refi in order to have equity for another deal. Let me know what you all think! Thanks!