Financing first intentional buy and hold questions...

I have an opportunity to purchase a property with two homes on it near a local community college but have not bought a property as an investment only.  I currently have a single family that was turned from my residence into a rental but this is all new.  

Now the question, should I use the equity in my home and rental to finance the investment property?  Conventional financing is not really an option for my wife and I because of our high debt to income ratio and I don't think that hard money lending would work in a buy and hold situation, am I wrong?  

Not really looking for a "do this" but any advice would be helpful.  

Thanks!