I prefer to be buying when unemployment is high and improving, rather than low and approaching where it historically starts reverting upward again (and prices flatten or decline..)..

That payment will improve your prospects with traditional financing, and lower your cost to borrow money.  

Reason for the cash out is I recently just moved into a new primary residence and I want to pull out the funds from my rental to make some property improvements and upgrades. 

Extras and improvements may push for a higher rent, but not enough to really justify them. 

Depending on the amount of money in your IRA, you can use the funds to invest in a piece of Real Estate directly - OR - you can use your IRA as a down payment, and your IRA can secure a non-recourse loan to finance the balance of the purchase.In either scenario, your IRA is the property owner - all income generated by the property flows back to the IRA, and any expenses (repairs, improvements, taxes & insurance) are paid with IRA funds.

Looking for advice on "long distance" investments, as the "local" market around here is inclusive of about a 300 mile radius in order to find inventory and deals...Any thoughts or guidance?

If the auction bid amount was $100,000 and the investor then sells to someone else for $125,000, and the borrower wants to redeem, it is $100,000, plus the additional charges, not $125,000 plus additional charges.The additional charges consist of interest at 7.5% per year, the VALUE of all permanent improvements made after the foreclosure auction, and the cost of all casualty insurance premiums. 

I have joined BiggerPockets to share my commitment and expertise with the BiggerPockets community by offering professional guidance and advice in areas including real estate deals and transactions, business development, and project management strategies to improve outcomes, budget management and customer solutions.As someone who has personally experienced, solved problems and developed projects in the areas of real estate development involving engineering, architecture, construction I welcome conversations in these areas as well as those below: Areas of interest include: pro forma development, technical due diligence, strategy and company growth; development, deals and transactions; portfolio development & management; leasing; construction, engineering and architecture in project design and technical operations.Real Estate, Construction and A/E, project manager, Real Estate Investor with more than twenty years of integrating business, engineering , architectural expertise and real estate development, construction management experience in designing, managing and investing in more than $126.5 million of commercial and multi-family properties and over $100 million in private and municipal projects encompassing design/build, structural, electrical, mechanical/civil engineering and architectural services, construction management, real estate investments, due diligence, pro forma development and financing.

The problem being  there is a lack of good solid inventory.

Financing may be available from the seller, from KOA (if a KOA park), or from a local bank (who may loan on the land and improvements, or extend a business loan guaranteed by SBA).