Using property held in SDIRA as a 'distribution' after age 59 1/2?

[Daniel Dietz]

Hello,
Last SDIRA question for a while :lol:

I read this on another website;

Due to conflicts of interest, neither you nor a close relative can live in the home now, as this would be considered a prohibited transaction with a disqualified person (IRC §4975(c)(1)(a)). However, you can hold onto the property, lease it out to "arms-length" renters, build your retirement account with the rental payments, then take the real estate as a distributed IRA asset when you can take distributions penalty free (after age 59 and a half). After that, you can move in and enjoy the home you've waited so long to occupy!

Does this sound right to those of you how are knowledgeable in SDIRAs?

IF this is the case, are there guidelines as to how long it would need to be held first, before you took it as a distribution? And additionally, could it be bought after age 59 1/2 and held for however long needed, and then be withdrawn as a distribution?

Thanks, Dan