Like some of the others who have already stated their opinion, I concur that buying real-estate with crypto is no different than buying with fiat.
I have quite a lot of experience with real-estate and I can tell you that buying sight-unseen is a huge risk. There is less risk in purchasing bare land, but then it would be simply a speculative purchase. In order to realize gains, the land would need to be USED for some purpose. Bare land could be farmed, but that is also a risky proposition. The absentee owners are surely not going to be doing the farming! How are you, as an investor, going to confirm what crops were grown and how much profit was made from those crops?
The same principals apply to land with buildings on them: Who is going to manage said buildings and HOW are they managing it? How much of the profit are the managers skimming off the top? Are they managing it well or allowing the building to decay? I've always maintained that nobody cares about your money as much as you do; so it is up to you to look after your investments yourself.
The above refers to investments that would be owned by multiple parties.
Now, there could be a situation where ONE entity or individual purchases a property and crowd-funds for that purchase. In that case, it would be foolish to invest in anything but a fixed-return on investment. Basically, lending money with interest. Even then, bankruptcy is not out of the question. However, if you are willing to take the risk, foreign investors could lend money in an unconventional manner via crypto's.