I just bought an old farmhouse in NC and like many it has aluminum siding backed by tar-paper and no insulation at all in the walls. I was thinking of tearing the siding off and putting rigid foam board up, foil backed, then new siding and slowly remodeling the inside one room at a time insulating from the inside also although I might not do this as the inside walls are in good shape with plaster tops and bead-board bottoms and look very nice.
1) should the foil be faced out to reflect the summer heat or in and do I need to leave a space between it and the new siding or can I side right to it?
2) should I put the inside vapor barrier on the room side of the wall filling between the studs with fiberglass or do I need one with the foamboard outside. Will using both create a moisture problem?