Everybody I have called said no except for one company that only does portfolios with established customers talk to the existing insurance company and pay that premium then add those fee's to your note at payoff. 

No matter how much home equity you have, you must pay off an existing home equity loan before you can obtain another.

Their coach told them to specifically seek out these deals believing they can only be acquired with these seller finance terms and wasn't even aware construction financing existed that could easily take down this particular deal.  

A couple years ago, on a cost per ft basis, existing home sales started exceeding the cost to build new so that drives things. 

You must honor the existing lease terms until expiration.

We are a group of investors with deep pockets and a saturated local market (Utah is after all the capital of Real Estate coaching).

Most places areas like this have been doing short-term rentals long before AirBNB even existed. 

Time is money and extensive knowledge in a particular field doesn't come for free.So what am I doing with existing clients with interest rates so high that want to buy NNN with long term leases and strong tenant.1.

@Chris Martin Happy to connect you with my contact at Velur to learn more but they identify parcels adjacent to existing solar development (or residential, warehousing... different zoning options for diversification) and do the analysis on value, easements, zoning viability for development etc...they take their cut up front in the sale then when you get an offer for purchase down the road they help review the offer as well.

Where the letters aren’t outright fraudulent and lies, they are misleading, with the person selling or giving the proof of funds letter to the unqualified wholesaler doing zero due diligence on the property and at best stating that, technically, funds could exist and or be set aside for the purchase of the property,The practice, when used this way is meant to mislead, and those who ask for, give out, or receive, proof of funds letters in this way are not welcome here on BiggerPockets.The right answer here is to qualify for a loan on the property personally, and show this to a seller, or to be straightforward with the seller that you are in no position to buy the property personally, but will be wholesaling it for them.