She could be moving from Melrose Place to Beverly Hills.
Added the insider, "Producers had initially asked Lisa to become a part of the show when it first launched, but she turned it down because she decided to do her own reality show for TV Land."
Harry Loves Lisa was ultimately canceled.
"Lisa was honored to have effectively been given a second chance and negotiations are going so well that both sides believe the deal could be closed very soon," the source added.
"She’s exactly the new life that the show needs," the source said.
"Lisa might come across as very sweet, but she isn't a pushover. She is also a very successful business owner and hopes to highlight her clothing boutique, Belle Gray, on the show.
"She has a lot of celebrity clientele and Bravo is hoping they will also agree to appear on camera."
The insider added Rinna isn’t afraid of the Housewives' “marriage curse” either, as she and Hamlin, 61, have been married for 16 years.
And her signature couldn't come soon enough for producers given filming has already begun, as we previously revealed.
Rinna also played Taylor McBride on the hit 90s show Melrose Place.