What is the best loan strategy for this buy and hold?

[Kayla Elliott]

The situation is a little lengthy, but hear me out..

I am purchasing my childhood home from my mother (my deceased father's rental prop) seller finance. Because she is my mom, I can have her deed the house to me so I can borrow the equity against it or put it up for collateral. Once I have fixed it up and rented it out, I can make seller finance payments to her. So I have that to my advantage. 

Here is where things are tricky. I have called my local credit unions and I can't borrow against the house because It has already been gutted and is deemed uninhabitable. My known options are hard money or private lending and then maybe doing a cash out refi, but rates would be high on both ends and will really cut into my cash flow. 

I have another rental property with a good amount of equity. In addition, I have my home that I recently purchased with a tad of equity for maybe a Heloc. 

Is there another option that I am not thinking of or one of the options listed above that you think would be best?

Here are the figures. 

Purchase price $95-$100K

Reno - $100K

ARV of $250,000 - $270,000

ARV Rent $2200