Looking to recreate this distressed dink effect with displacement maps?

To distress the text outline.

Go Type > Create Work Path

Add a layer mask to the type layer.

Find a brush that when applied to the text layer mask (with black) gives a suitable result.

Note: I searched brushes with Distressed and adjusted scatter jitter and spacing in my example.

With the layer mask selected, right click the Work Path and chose Stroke using the Brush tool.  This will cause the brush to paint out the outline of the text.

I found that even after modifying the brush preset, I still had to apply the stroke a couple of times, but once the Brush is selected for the ‘stroke work path’ you can reapply using the icon I have highlighted at the bottom of the Paths panel.

Good luck.

Have you thought about using one of the many downloadable typewriter fonts. I used three here from Adobe fonts.

The top 3 are the fonts as downloaded.
The middle three are the same but with dissolve blend mode

The bottom three are the same with dissolve blend mode and a mask added filled with a pattern ( Grayscale paper Kraft Waffle) and the mask density reduced to 10%. 

Click on the image below to see at 100% view
 

Dave