I guess I'd be willing to be involved in the "risk" as for as a partnership that involved developing the land.

Any advice would be helpful, Ghostbusters, new or old, need not apply.

In the end, the late payment is now applied and my PM collects 10% of everything thing collected which I’m ok with.

Maybe I will be more involved in the future.  

Not sure how much of that will apply to Mexico.The best and usually most common solution to this is to find a money partner

No, they were tenants that applied, passed the PMs criteria (our agreed upon), and agreed to the lease. 

If realtors are involved, the seller's agent should be able to explain the benefits to them.  

if he is recovering from a stroke it may not be safe for him to live alone.If they do apply either deny because of bad credit or a lack of income or tell them you decided to go with another applicant.

Everyone is so nice when they are applying but after they skip rent or create problems for neighbors, you see another side. 

Where you invest, you should know about what rules/laws/ordinances/statutes apply at every level.