Using IRA for Down Payment? Good idea?

[Andrew Lisi]

We are looking to purchase our 1st investment property. As I'm learning more, I want it to be a 2-4 unit multifamily home that we would "house hack." We don't have enough savings for a down payment in Chicago (city proper) so I'm considering taking the max out of two IRAs for an additional $20,000. I'm aware of some of the tax issues, but not fully. I'm wondering if, given that we don't have enough savings and would like to invest sooner than later, taking the money out of our IRAs is a good idea.

Help is appreciated!