Florida may see that as foreign income earned outside of Florida.

That entity being invested in would have the necessary state footprint.When using an IRA LLC to directly engage in what a state would construe a business activity such as direct ownership of an income producing property, then yes, the LLC would need to either be domiciled in that state or registered as a foreign entity to do business in the state. 

But now my question: How can I as a foreigner, buy a house in Spain?

@Isaac Geller As a foreign investor I definitely  think that you are on the right track looking at passive RE investing (as opposed to the direct route you were considering). 

Since my first comment in the chain, additional people have chimed in to say that the market will never go down againBecause foreign investorsBecause California Because some people don’t need to make money YaddaYadda YaddaNone of these factors existed before this current cycle?

I've tried a couple of lenders but they have a minimum purchase price of over $100k in order to be able to lend to foreign nationals.

In my architecture background I had no experience in dealing with financing so that is a foreign world to me. 

Most of my investing has been in North Main and the Augusta Road areas...urban lifestyle but good schools, affordable living, and convenience to everything...it's a gem.Regarding #2, yes our redneck homes are pretty affordable for many northerners...my neighborhood is mostly transplants and foreigners.

My wife and I are pretty committed to REI as our path to having enough to use our time for things better than money – maybe eventually in foreign missions.

What is the process to make my foreign assets count?