I've known a few people over the years try this. If you are someone who doesn't really care about work, and are good getting what you get without trying to work the system for max pay, you can probably make it work OK. This works if your spouse has a really good deal. If you need to maximize your pay, you're probably going to wind up unhappy. One guy I knew had secure finances outside this job and was happy staying senior on low paying equipment to make his commute less hassle. He did that for years and sat number one in pretty much the bottom category until he could be number one in the next category and so on.
You're going to need some seniority to stack up a manageable commute, otherwise you'll be on course for a divorce. Building that kind of seniority is going to mean sitting in a seat way longer than you might otherwise.
International commutes go to poop in a hurry (including the inevitable strikes), and you have very limited back ups, you so you're going to have to have some fall back plans. When it does go bad, you can easily burn all your time off.
The most important take away is you have to have an accountant/tax person who absolutely understands international tax law and what you are doing, and not just "some guy" or DIY. If you think the IRS is bad, try getting sideways in Spain or the UK. You need every box checked and your records need to be tight.
None of these are insurmountable, and some make it work to their benefit. You really need to ask yourself what you want out of this job, and if the juice is worth the squeeze.