Can you send users to a bridge page or will they disapprove the ad?
I had heard you need at least a Privacy page connected to your LP. Does that mean I can simply add that page link in my footer and then send users along to the offer page with a minimal amount of copy on the presell?
Yeah they're fine with bridge pages. Obviously if the vertical is allowed 
You can do whatever you want as long as it is within their advertising guidelines, which you should read and know very well.
There is nothing inherently bad about a bridge page, a lander, an email opt-in, an SMS opt-in, a FB integration that lets people sign up with a FB app, etc.
If you are collecting user data e.g. an email opt-in then yes you do need a privacy policy link on your page, preferably the footer. A disclaimer is also sensible.
I don't have a privacy or disclaimer and my bridge page goes onto the sale page, it's fine as you're not taking/using any data on that page are you. I mean it wont hurt though to be safe
As wildfing said, not needed if not collecting user data. The point of a privacy policy is to disclose what you will do with private information someone has submitted...