Combine HML with Conventional Loan to Purchase SMF?

[Nico Dandini]

Have you ever combined a hard money loan with a conventional loan to purchase a property? 

For added context, I'm thinking about house hacking a duplex in MA, but I don't have the cash to afford the 20% downpayment. I was thinking about using a hard money loan to fund the downpayment, then do a cash out refi the following year to pay back the hard money lender. 

I've crunched the numbers to house hack with a 3.5% FHA loan, but the numbers seem more favorable with a combined HML/Conventional loan.

Any advice or thoughts would be greatly appreciated. Thank you!