Australian Newbie looking to invest in US real estate

[Graham Jenkins]

Hey all, I live in Perth Western Australia and have been listening to the Podcasts for a couple of months.  I've had a good look at the Australian market and it is very difficult to find residential property that will cash flow.  Everything seems to about negative gearing and taxation advantages over here which just doesn't work for me.  Anyway, a mate of mine suggested the US property market.  So I'm just wondering if you guys know if there are any particular rules for foreign ownership of residential property in the US?

Cheers, Graham