Generally the American consumers are financially illiterate.

The only thing to have in mind is that as a foreigner you can not borrow the same amount as residents can (70% vs 80%), the distance and therefore having a strong management set up in place, and the tax consequences from out of the US as (if I am not mistaking) you are always bound to pay your taxes in the US as an American citizen.All other details like contacts (agents, contractors, architects, banks, mortgage brokers, etc) we can help you with as we are active with multiple projects in the Barcelona/Valencia area. 

This month's speaker will be from American Street Capital which provides funding for larger commercial real estate deals. https://www.meetup.com/Chicago-West-Suburban-Real-Estate-Investors-Meetup

American economy is stressed right now so tenants will default more than in past three years. 

This is not surprising considering that large Wall Street companies unofficially lobbied the government to create these plans, primarily the 401K, as a way for average Americans to funnel money into their traditional investments.

Additionally, I don't have any intention of renouncing my American citizenship or leaving the Country.

Since affordability keeps declining (and will continue to decline with the exodus of large American cities) we suspect that these service workers will have to rent homes further and further North of the beach areas.

Note: only Native Americans are permitted to be whalers.What other career and finance deductions are you utilizing on your taxes?

American made too! 

To my knowledge none of these reliably produce 5X the returns of a standard successful rental house nor offer society (and renters) a re-invented household that people want to be a part of for years and years.