The previous owner never enforced the late fees, although one of the tenants was chronically late (undisclosed at time of sale),I sent all the tenants a change of ownership letter restating the terms of their lease, including the late rent penalties.  

The way to really make money down there in my opinion is to buy RE in pesos and then rent short term in dollars and be able to profit from the weak peso. 

Fortunately I am alive, but with chronic pain in my lower back, as I have herniated disks/bulging disks/protruding disks, disc degenerative disease and an annular tear.

@Mike XiaoAs our company is now expanding into a new market my business partner is constantly reviewing the multifamily outlook and what markets are strong and which are weak and why. 

The spring can get weak over time or rust can also cause the vale to not seal properly. 

Note that the Federal funds overnight rate (interbank and overnight) is a very weak predictor of mortgage (consumer and 30 year) rates.

Would 2 to 3 thousand be a weak, average or strong starting point? 

Most listings these days say right in the remarks "all offers must be with proof of funds/ pre approval attached".Unless you're going off market, you'll present a weak offer without funding lined up.

Given the weakness of the Permian, I would expect to see rents decreasing and vacancies climbing, but would like to get input from folks on the ground in those markets.

Those tend to be in weak suburban to rural locations.