First time buyer advice needed.

[Benjamin Hall]

Hi everyone!

I'm a Brit, living in the middle east and am married to an American. 

We have secured financing from the middle east in order to invest in my wifes hometown in Indiana, so from the buying point of view, we are effectively cash buyers. We have researched the market thoroughly and have narrowed down our search to a selection of properties which my wife is currently viewing in America.

I'm really asking you lovely people for some advice about unexpected pitfalls we might face. 

We are aiming to rent the property out and use a property management company to look after to daily aspects. My wife has lots of family in the area in case anything dramatic happens that needs immediate assistance.

I'm also a bit stumped regarding the tax situation. Obviously, I'm going to contact an accountant regarding this, but a bit of initial information on here would be jolly useful. We both live in a Tax free country, and therefore currently pay zero taxes. I understand that the income collected from rental returns is taxable, but is there any way to offset some of this against the loan we have in the middle east?

Thanks for all of your time!