Because believers will have a new body and have the Holy Spirit as a pledge, Paul reminds them to live by faith that they may please the Lord. He continues by reminding them to persuade others because 1) believers will appear at the judgment seat of Christ and 2) because of love for Christ who died for believers.
Paul speaks of the physical body as if it were a place where a person dwells. AT: "while we are living in this earthly body" (See: [[rc://en/ta/man/translate/figs-metaphor]])
Here "walk" is a metaphor for "live" or "behave." AT: "we live according to faith, not according to what we see" (See: [[rc://en/ta/man/translate/figs-metaphor]])