applying for loan on new invest while bank still processes another loan?

[Ulrike Koehler]

I am a newbie on bigger pockets and in real estate investment. Started a year ago buying real estate in MD for hold and rent them out. I have happy renters and make some money. I am currently in the process to buy my 4th house bank financed and all of the sudden a property, that I was monitoring for a while, becomes available. I have already renters for the house that would love to move in. I want to buy the house as it is a great opportunity as soon as possible, but I need to finance the property. Being still in the process of financing the prior property - closing in 10 days - I have been told I would jeopardize the current loan proceedings if I would apply for another loan within the time before closing. But in order to put a bid in I am in need for an loan approval letter. Any advise you could give what to do? Any experiences you can share in regards of simular situations. Easiest would be to wait after closing but I don't want to take the chance that the property is gone before I am able to move