After going this route, and further analyzing the property that I was looking at, with the higher interest rate, HOA fees, non-investor-friendly co-op rental policies, I walked away.

In the current market environment, it will be very difficult to have any positive cash flow or complete a successful BRRRR even with conservative debt levels, and pretty much impossible if financing down payments/ any zero down strategy unless you have a partner willing to put up all the cash. 

I sold my OREO I took back after the 08 crash with zero interestI raised the prices and wrote the notes at zero interest so with a gain in principal and getting paid off so quickly not only did we save our bacon we actually made some profit.

I don't know if Evolve advises on that but make sure you have the correct STR policy.

Almost zero risk/investment and direct payment off of top line. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The actuaries realize they have too many policies in one area and the insurance companies want to reduce risk and spread risk. 

Any recommendations for institutions that can extend a line of credit backed by a whole life policy?  

Some insurance carriers will have different policies that do not cover contents since the contents are mostly the renters, speak with your insurance agent about coverage options.There are 15% down DSCR financing options.

You will have to switch from a homeowner’s insurance policy to a landlord insurance policy which covers rental specific risks.3.