Hi Rob,
I'm an American that has moved here 12 years ago. I did exactly what was mentioned....back and forth to Uruguay...I even did it with a car I imported until I got it "nationalized". Eventually I did the paper work to get my residensy. I have done many things here and I will reccomend to you to avoid investing or working formally here. Try to find an alternative source of income...income from overseas, etc. Here it is just WAY TOO difficult to do things in a "correct" fashion. I had a cafe/deli for 3 years and just closed its doors....happy as can be. In just about EVERY way the system worked against me....since I did everything legal and correct, I was paying any and all profits to the government or city. Just start simple....give classes in english....or find something you can do long distance. Dont over invest in Argentina....nice place, but way to umpredictable!! Also, dont forget to take into account the problem with security here....still kidnapping going on and lots of theft....along with a corrupt government....sounds fun if your Jessie James....
Suerte!
Paul