@Todd Dexheimer I am reluctant to make the investment with a different custodian or out of taxable funds without knowing the reason for the denial. 

I'm looking for feedback on what I'm missing.The pros of the TSP loan:-There is no 10% IRS fee (unlike 401k)-The fee to process the loan is $50-The loan does not count as taxable income so long as it's repaid-The current interest rate is 2.375%, which is paid back to my own account and not a bankThe cons:-No TSP earnings from what I withdraw (but it will ideally be earning a much higher return from real estate, but it's worth stating that there is a risk if the investment isn't good)-The loan interest does not appear to count as an expense for any investment, so it would not be tax-deductible-Some "Ifs"; IF I leave federal service, I have to repay it all in 90 days.

Let alone the expected back end kicker on sale / refinance and depreciation to shield taxable income. 

If you plan to use a GA property as the relinquished property in a 1031 exchange, GA will not allow 1031 tax treatment if the replacement property is outside GA and profit on the sale of that property will be taxable on your GA tax return.. 

That would likely make the loan proceeds taxable.

Taxable consequences?

@Ryan H.I would explain to the lender that since it is an inherited IRA you could take a full-taxable distribution at anytime; therefore, the funds are liquid.

I can assure you that I'd rather have to figure out how I can recycle 100k in equity than figure out how I can pay taxes on 100k in taxable cash flow.Here's the best part: you CAN cash flow in these "hybrid" markets (outside of the commonly used extremes CA/NY vs. the midwest).

Try to find non retirement money otherwise you’re turning capital gains in to regular taxable income. 

You would have free reign to invest as you choose and the income generated would be taxable to you.Move money to a self directed IRA and invest the IRA money into real estate.