Can I buy property in India as an NRI, and what should I watch for on the US side?

Yes — NRIs can freely buy residential and commercial property in India (though not agricultural land, plantations, or farmhouses), paying through NRE/NRO accounts or normal banking channels. The US-side considerations come later. Rental income is taxable on your US return on Schedule E with foreign depreciation over 30 years, the property's bank account is FBAR-reportable, and when you eventually sell, you'll face Indian TDS plus a US capital gain computed in dollars — so currency moves can create taxable gain even on a flat rupee price. Financing in India as an NRI is possible but often at higher rates. The biggest practical issues are repatriating proceeds later (the $1M NRO cap) and the recordkeeping burden across two tax systems. Decide upfront whether this is a use-it home or an investment you'll one day liquidate back to dollars.