Would appreciate advice on buying/financing first multiunit

[Rosie Williams]

Hello! I bought a fixer upper in a "C" area 4 years ago with the intention to sell and buy another fixer in a better neighborhood (I live in the house). But I have studied and realized  that the better idea is to create passive income - buy a multiunit in a better neighborhood, live in one unit and rent out the other two, as well as keep and rent this house. The fixer upper is mortgage free. I have my eye on a $160,000 three unit building in another neighborhood. 

I have a small pension, and have two other part time jobs, and have a freelance writing business. My DTI ratio stinks but will look much better in a year, and I have an excellent FICO score and am never late on payments. I could actually bank more money by moving into the multiunit and having rent from the other three units, but have little cash reserves at this point. My dilemma is how to make the purchase happen - any suggestions? I don't qualify for a conventional loan at this point or for this amount - I have owned homes in the past so do not qualify for the "first owner" incentives. Is my only option to find a private lender, or hold off for a year before buying? Thanks for any ideas.