We had to get a signed lease and first months rent and security deposit on our current home before we could get approval from the bank.

Do not rely on it for legal advice.

While traditional banks provide lower interest rates, they come with strict approval processes and long wait times.

Get pre-approved through them and then start sending them deals!

Your lender needs to approve deed transfer

Once the executor (or whatever its called in virginia) is approved, they start settling the estate.

I'm not saying it's the right call or not, but if you try other things and can't get results you either move to another place or take the 'legal' route....that could be another option is ask them if they have another unit you could move into.

It's advisable for both spouses to communicate openly about such financial decisions and consider consulting with a legal or financial professional for tailored advice.

What are some tax considerations or other legal issues to keep in mind as an out-of state investor investing in this market? 

Once approved, how fast does your policy dictate that they have to give you a deposit?