Withdrawing money from SEP IRA to real estate investment

[Kal Paneliya]

Hello BP Community!

Can somebody please educate me on this topic below? Your help will be greatly appreciated.

Can I withdraw money from my IRA account for a rental property? If so, what are the requirements for it? My main question is if the withdrawal of money is property specific? If I have a contract for a good investment property with a wholesaler (and not the direct seller), would that be considered by IRA?

And how many days do I have to return those funds back to IRA if I am not able to close the deal on property? If it is too late to return the money, can I use it for investment in another property to avoid penalty?

Please advise. Thanks a lot