It's extremely possible. I'm considering doing this myself if I can find a cheap place with a garage to build the bike over a month or so.
The bikes are a LOT cheaper there (than aus), for example a 2013 dr650 with zero kilometres can be bought for $5,500Au, here the same bike is $7,500Au.
Parts / Mods are a lot cheaper. It's USA, the land of 'do everything bigger and better', and damn do they do it well.
Registering the bike is very easy depending on what state your in. Search the forums here, theres a thread about 6 pages long with which states are easy / cheap.
The only con I can see is you need a base to work on / build the bike, which is my issue. But in the big scheme of things that's nothing really.
Good luck!
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