I guess our only options are traditional conforming loans with a hefty down payment.

The traditional wall unit.

Once I got it renovated and rented I got it refinanced through a traditional fannie mae refinance mortgage 75% LTV 30 year am 5.125% interest rate fixed.

I’ve been doing it for 2 months as opposed to traditional renting and I’m killing it.

This will help alleviate barriers to renting an apartment, the law says landlords must give renters options other than a traditional cash security deposit.There are three alternatives: an installment plan that allows the renter to pay the security deposit over the course of at least six months; a reduced security deposit no more than the equivalent of 50 percent of the first month's rent; or rental security insurance in which tenants pay an insurance company a nominal nonrefundable monthly fee in lieu of a deposit.

The third and final big point/question is why can't you get traditional financing? 

I have a retired military student who is using his VA loan here in Berwyn, and he has been a solid tenant even though he doesn't have traditional employment that is more than part time.

It will be slightly more expensive than a traditional homeowners' policy, but you've got to make sure you're covered.

Had a tenant apply and ran her through my traditional screening with landlordstation.com.

Those are the main differences as opposed to a fixed 30 year traditional mortgage