I saw this done in a LaBlanche video, you can find it there by typing in La Blanche in the You Tube search box.
My battery died at the end so I couldn't show you the distressing I did, so here are some photos!
This is the front after I finished with the inks.
I turned over the paper and added both Vintage Photo and Evergreen Bough Distress Ink to the edges.
I used the Tim Holtz distress tool to rough up the edges all around, and made a few tears here and there. I inked the exposed edges with both previously mentioned inks. Then I rolled the four corners toward the front with my paint brush.
This is the finiahed piece, ready to add to a canvas or other surface such as a book, box, or journal or anything you can think of!