I am about to buy a house for less than it is appraised for. Please Read and HELP!?

Okay, I am buying a house for less than it was appraised for. Can I immediately turn around and refinance it up to the amount it was appraised for, to pay down debt I have? Please only answer if you are a professional or know what you are talking about. Thank you. Keep in mind I am asking if I can do this after only a few payments on the mortgage, so there wont hardly be any equity built up yet, asides from the value between my buying price and what the appraiser says its worth.