Is it smart to draw early from Roth IRA to invest in real estate?

[David Bittorf]

I currently have about $115k in my Roth IRA. $60,000 is contributions. If I understand this correctly, I think I could pull out $60,000 for a 10% penalty ($6000). If I pull out the whole thing I think I would get hit with 10% + 22% on the gains. So, would it make sense to pull out $60,000 to buy a second property if that means I could rent out my current property for $500 to $1000 / month positive cash flow? Seems like my return on that would be better than the "loss" of leaving it in until I'm 59.5. Btw I'm currently 38 years old.