Wanted to finally say this is SOLVED with help from @JPhi1618 (see conversation below). If you have a 2 wire system you might likely need a relay. I bought this (https://www.amazon.com/Venstar-ACC0436-2-Wire-24VAC-Thermostats/dp/B00755BZZC/ref=asc_df_B00755BZZC/?tag=hyprod-20&linkCode=df0&hvadid=167116234959&hvpos=&hvnetw=g&hvrand=7451184044459738647&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9001854&hvtargid=pla-313874654619&psc=1#customerReviews) AC Transformer and relay. Using the diagrams provided by the Amazon reviewer "GK" and JPhi1618's diagrams below I was able to successfully install a Nest Thermostat on a two wire heat only system. I had a initial scare where it did not function but I interchanged the two AC connections and ensured all the wire nut connections were secure and it functioned quickly after. Thanks to all for everyone's help and I hope this post can help someone in the future.
I have an older two wire heating system (R, W). I have 5 wires going from my furnace to my thermostat (only the two are used). After learning that my oil control does not have a C terminal I was recommended to buy a transformer to be able to create a C wire for my WiFi thermostat. I bought a plug in transformer online and I thought I could plug in the transformer, attach one lead it to the unused blue wire near my furnace (to create C) and attach the other lead to another unused wire, yellow. I read that from here you plug in the blue wire into C and the yellow into Rc. However, my Nest backplate does not have a Rc, only an R. Hours of troubleshooting have gone by and I'm not having any luck.
Am I going about this the right way (in that I can plug in the transformer, connect the leads to existing wires which go to the thermostat?)