Also as I understand it qualification for these loans are based on the property as opposed to the borrower.

I don't get the term "DSCR loan"   I mean all loans for 5+ units are based more on the property than the buyer.     

My name is Khaled Seirafi based in California and I'm looking at potentially investing in a multifamily property in Phoenix.

There are several companies that offer properties in Dallas but aren’t based locally.

I'm a CRE attorney based in Nassau County although I frequently work in the boroughs as well.

Based on your description, it sounds like you would violate the self-dealing rule and could put your SDIRA at risk. 

For those of you that are more experienced in this space, would you change your financing approach based on this new information?

It is in good condition and centrally located to shopping and the base so I'm surprise that it has been sitting this long. 

As a result the property, based on capitalization rates, can now be sold for $450,000.  

I love that you’re already narrowing down specific zip codes and doing your due diligence.I’ve heard good things about 73170 and 73135, especially with the proximity to Tinker Air Force Base, which tends to attract stable tenants.