Real Estate - Argentina

An inquiry into real estate investment in Argentina as a foreigner..

Enthralled by the city of Buenos Aires, I've recently been conducting research on real estate investment.  (http://www.crossbordermortgages.com/guide/argentina.html)

"For foreigners interested in buying property in Argentina, financing is by and large a remote possibility. Fianancing in majority of cases is not available to foreigners. Under most circumstances, foreigners must pay 100% cash in advance. The interest rates on mortagage financing are extremely high, and in the past have not been less than 15% per annum; the have a reltively short period, 10 years, and often require a down payment as high as 50% of the purchase price. If you don't have the needed funds, you would be best to look for financing in your home country. The reason being as a foreigner you won't be able to show an income or a credit history in Argentina. Real Estate buyers pay brokerage fees plus VAT taxes when working through real estate agents as professional service fees require a VAT Tax in Argentina. The standard brokerage fee in Argentina is 3%."

This is obviously a hinderance to me as I am not loaded.  However, given an average exchange rate of 3 pesos - 1 USD and the overall cheap cost of living..I'm in no way thwarted as of yet.  I recently went out of my way to talk to my buddy Agustine's sister's boyfriend..Andres.  He's a real estate lawyer and great guy..agreeing that the best investment method would be for me to purchase up front.. he suggested renting as the greater alternative.  I've already noticed numerous places I'd consider and talked to both foreigners and locals alike for advice.  We'll see the twists and turns that brighten or dim the possibility of a future in Buenos Aires.