As others have commented - DSCR Loans tend to be a great solution for people in your exact scenario - fed up and tired of giant hassle and paperwork for conventional or bank financing - not worth the often pretty small benefit in rate or terms.Check out this article I published last year on BiggerPockets on what to expect documentation wise for DSCR Loans - they have become a nice blend between solid underwriting and doc sets needed, but not too much (and not too little like notorious "no doc" loans)https://www.biggerpockets.com/blog/what-documents-do-you-nee...

The Roth puts the whole thing on steroids since no taxes (state or fed) on the withdrawal. 

I don't know what you mean by it's looking pretty bad, but I assume that means long grass, weeds in beds, etc.

I'm sure from Dallas the grass looks a lot greener in Corpus Christi.

I can get 5% from the Fed with better tax advantages and its guaranteed whereas I have a LTV of 90%. 

I’m also a government employee and have used a loan ($50k) to cover the rehab of a property.I don’t see it as an all in thing, as a fed, you are working towards a pension, social security, still putting in 10% into a 401k (with employer match)  and have a regular w2 income as long as you want to hang around.

So lets say Fed rate is 4.

Of course, no one knows for sure, but it seems the FED deferred interest rate decreased.The location of the new construction is so appealing due to being close to downtown (10 minutes).What would you do?

I know folks who bought strip malls and multi-tenant retail in 90s for 5-10 cents on the dollar at auction from Resolution Trust Corp after Savings and Loan crises in Texas, We are now going through similar deleveraging event after super frothy period in Multi-Family due to 0% fed funds x 20 yrs and many properties bought at 3-3.5 cap rates, especially in austin/dallas/H-town. 

Wait for first few fed rate cuts and refinance to purchase the next property, and onwards.