There are no restrictions and will report as normal Citizens. 

That same house was a result of a senior citizen getting scammed by an elder-abuse wanted felon who specialized in taking seniors houses (what a thing to specialize in, eh?)

When my wife and I (Canadian Citizens and Residents) purchased a few properties in the US, we held them in LLPs to avoid the double taxation problem. 

@Lior Solomon ,The US taxes it citizens on their worldwide income so your looking at tax consequences regardless.

Do you have to come up with money out of your own pocket ever to cover the loan, can you get a loan in Mexico without being a citizen, and what is the size of your condo? 

I was a mayoral appointed board commissioner for a senior citizens housing facility for 3 years and then a Florida foreclosure attorney for 2 years.Right now I'm in the early stages of my journey to become a real estate investor.

I am seeking to convert this to 55+ senior living as it has the amenities, would be considered an A property, and is in an area that has a waiting list of highly qualified tenants and senior citizens. 

My ultimate goal is to take my talents beyond the U.S my wife and I are avid travelers as she is a British citizen so it’s only in her blood lol.

Jane is not currently a US citizen and hasn't ever filed taxes here in the US. ( Overstayed her visa from the UK for the last 4 years) Any issue there?

Set up an LLC with a US Citizen (myself)?