I've lately been working on doing the same in Puerto Vallarta.I'm also working on putting a group of buyers together to do our own developments together with local associates.Have you invested in Mexico yourself?

Rising cap rates are mostly tied to higher interest rates—when borrowing gets more expensive, investors expect better returns, which pushes cap rates up.

I seem to remember that I didn't even have a business card until then either.You are VERY late to the game to be making these decisions. 

The returns have been about 7% or 16-21,000/year NET on my properties.

Therefore a partnership return will need to be filed and each partner will get a K-1 reporting their share of income.Each investor will then report that income on their return.Taxes will be calculated based on each partner's tax rate.Best of luck.

Tenants in arrears due to “loss of income related to COVID-19” have a six-month grace period—without late fees!

So Doorvest is getting everything that produces a high return and you get the aspects of real estate investing that have low a return. 

There is much to learn: pricing, marketing, screening, contract law, lease enforcement, late/unpaid rent, property abandonment, squatters, maintenance, tenant neglect or abuse, communication, and 417 other things.Buying a decent property but not managing it well can impact your finances, marriage, sanity, physical health, and desire to invest.

Be of value and value will find you in return.

I've been doing a deep dive looking at cash on cash return for various down payments and expenses on properties with a mortgage.