Where can I find a reversible 1HP motor compatible with my home outlet?
I think what your looking for is a hoist.  There are manual pulley versions for under $30 and electric 1/2hp and up running on 120v ac starting around $100.  They come with the switch you spoke of already.  You might check the Chinese freight stores that receive their goods at the harbor. . (Not an endorsement).   I start many of my projects there and modify as needed. Often many mods are needed just to meet intended use, but the hoists seem pretty straightforward.