Using a Whole Life Insurance (WLI) loan avoids banks but accrues interest, potentially reducing policy benefits—compare this with other financing options like HELOC or seller financing.

Why not take out a loan from the equity to pay off that debt?

Bridge loan.

I have spoken to lenders about traditional financing and also DSCR loans.

This is not even close to the documents required for a properly drafted loan.

The VA and Fha loans have been able to do it but their strict appraisal guidelines make it tough to buy the often older homes in my market in Virginia Beach / Norfolk Area. 

Quote from @Leonard La Rocca III: So is it common to find a conventional loan without meeting the lender in-person?

While his loan isn't assumable, you could structure a deal where you take over payments while giving him equity in a seller-financed second note.

Tax Implications & Loan Considerations✅ Be prepared for higher property taxes and potential changes in tax deductions.✅ Ensure your mortgage allows renting—some loans have restrictions.If your financial cushion can handle these factors, you’re in a great position to rent out your home successfully!

Compare Loan Terms – Ensure their rates, fees, and terms align with your investment goals by getting multiple quotes from other lenders. 3.