I've worked on very successful projects this way; however, there are some services like frequent site visits during construction a distant architect would not be able to provide. Also, local architects are more familiar with the local authorities (building, planning, health department, utilities etc.) and the local building conditions.

If you decide to work with a distant architect, make sure to have him/her visit the site and meet with you in person. Ideally meet in person to discuss the conceptual design, either at their location or yours. Technology is great, but nothing beats a face to face meeting.

Technology has narrowed the gap. I agree with SSA.

I considered this option. (I really like a few/several/almost all of the architects on this forum, lol.)

Decided against it for a couple of reasons. (1) I really want site visits during construction, and (2) the soil in my part of the world is hit-or-miss, and I've already received valuable information (where NOT to buy land, based on expensive/frustrating solutions for problematic soil conditions) from a local architect.