Help deciding how to fund 2 new rentals

[Scott Hawks]

Your goals and story: 

I currently own a SFH that is rented out. I'm looking to expand my portfolio with 2 additional buy and hold purchases

Location of property: 

Gadsden, AL 35903 for both

Purpose of financing: 

purchase both.  the 3/1 will need some cosmetic work on the inside and a new hvac system.  the 2/1 is pretty much move in ready with a few minor cosmetic fixes.

Type of financing sought: 

looking at hard money or private, but not sure.

Current or prior ownership of real estate: 

currently own 1 SFH that is rented out and mortgage free.

Occupancy: 

investment with traditional long term leases

Value of property at present and/or your offer price: 

3/1 property looking at placing an offer of around $55k

2/1 propery looking at placing an offer of around $70k

After repair value: 

3/1 should come in around 80-85k

2/1 should come in around 90k

Anticipated or actual appraisal issues: no

Current rents per month: 

both are owner occupied.  

Fair market rents per month: 

thinking i can get $850 - $900 for both properties based on comps and rentometer data

Down payment or equity: 

love to be able to use the equity in current rental for down payment on these 2 properties

Source of down payment funds, if applicable: 

own funds if necessary, or equity in current rental

Income Source: 

Salaried/W2 in IT for over 25 years.  

Gross monthly income (optional): 

$11K

Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: 

Debt to income ratio is 10% including mortgage

FICO: 

Excellent

Credit issues:

none

Hoping i'm on the right track here.  If not, please educate me.  I'm still a newbie and any advice is welcomed.

Thanks