Two house deal, slightly short of cash to close

[Evan C.]

So, we are under contract on what looks like a great deal but we have to cover a gap in funds to close the deal. Here's what it looks like:
Two homes in a secondary market area in North Carolina. The two were being sold together and couldn't be separated, which would have been preferable.

The SFR homes are a 3/2 and 3/1. On septic and public water. Built in the early 80s. Both a little over 1,000 sq feet.

Pricing and Value: Each home is $75k, so the package is $150k. County tax value of each home is above purchase price. ARV estimate is $110k and $115k. Rents once renovated are around $1,000. They're on month-to-month with long-term tenants who haven't seen a rent increase in years.

Have a nine (remaining) day period to gain access (due to tenants), assess conditions, and either continue or pull out of the deal before earnest money is due.
The problem we're experiencing is that buying as a package strains our liquid reserves to an uncomfortably tight level. We are talking to some hard money lenders about bridge loans that include rehab but we're probably still short some cash.

We talked to one lender about refinancing our other investment property at the same to gain extra cash, but with that lender's higher construction reserve requirements we're still short.

Anyone tackled this problem before? Thoughts on where to find a bit of extra cash? Any critiques of the deal?

Another less-ideal factor is that if I buy these on one loan (as may be necessary to meet minimum deal size) then I will have them forever linked, even after I refinance, unless I pay off the loan.

[Evan Polaski]

@Evan C., how experienced are you in this space?  

For one, these deals don't sound great to begin with.  Of course I know nothing of the condition, but you only have up to $40k/deal of renovation budget to break even.  Kitchen will likely be $15k, if all new is needed, roof if often $6k plus, HVAC another $6k, and add some bathrooms, paint, lighting, etc and you have likely blown through the equity upside in rehab costs.  

I can only make some very broad assumptions on these based on the information provided, but based on my assumptions, these sound like non-viable projects, even before your financing issues.