Advice on buying house

[Janet Taylor]

Need advice:

HOUSE #1 - I own house valued at $300,00 and only owe $7,000. I rent rooms and garage apartment to traveling nurses totaling $4,200.

HOUSE #2- 5 BR , 3 Bath House on same street closer to hospital needing rehab. Price is $150,000 ARV $350,000 and up depending on market. I plan to hold and rent rooms

OWNERS: My next door neighbor. Have accepted offer of $150,000. They will  accept $50,000 down, owner finance $100,000 for two years and close. They said they don’t want to get everything at once because of taxes. 

ME- 68 yr old woman who has been investing in  houses for 15 yrs. Eventually was able to buy last house with cash plus $15,000 owner financing. I now owe $7,000 on last house.

FINANCING IDEAS:

1. Refinance my house which seems to be the common scenario on BP. Will I get enough to buy and rehab house which will cost $150,000 to buy  and $100,000 to rehab. 

2. PRIVATE LENDER: Suggestions of private lender?

4. Hard Money:  Of course this is an option but most require 20% down and I don’t have that much cash to put down  

3. Utilize Reverse Mortgage $150,000 and private lender. I like the fact that I wouldn’t have a note with a RM but it won’t cover the rehab part  

Thank you for any ideas or help with directing me to right loan company or person.
Janet Taylor