So I can be an official resident of the USA while at the same time be a citizen of Argentina. Not earn an income in Argentina and therefore only pay income tax on my US earned income. Sounds great for me. If I understand it then, my residency status is what determines my tax liability. If this is correct, it's great.
This conclusion might not be correct. Even if you are earning an income in the USA (and even if the first $100K is exempt from taxation in the USA just because you are living abroad), if you become an Argentine citizen living in Argentina you will be considered a "tax resident" of Argentina by AFIP.
Foreigners living in Argentina more than six month of the year are either temporary or permanent residents or pseudo-tourists. The only way I know of to "avoid" paying taxes on foreign income while living in Argentina is to remain a pseudo-tourist (but that doesn't mean that they are legally exempt from paying taxes)
You never mentioned what your current immigration status is. If you currently don't have temporary or permanent residency you may think you are under the radar. Perhaps for now you are, but if you own property in Argentina and living the lifestyle of someone earning more than $100K USD per year I wonder how long that will be the case.
If you become a citizen and don't declare your USA income to AFIP you may be committing the crime of tax evasion. Even if you don't become a citizen, if, at some point in the future AFIP asks how you support yourself in Argentina and/or how you are able to buy property and that you are living here and not reporting any income, you might find a note in your mailbox informing you of an "embargo" tax lien against your property...at the least
The fine for working in Argentina without a DNI is now $300.000 pesos.
Penalties and interest for not reporting income that is actually subject to taxation in Argentina are staggering.
I don't know what criminal penalties might also apply, but if your USA income is well over $100K per year I think you would be considered a pretty big fish.