It’s cost effective and makes deals look that much better while giving college students a place to stay for not too much money.

A radiant system is also suitable for connection to solar thermal hot water, so you could effectively heat the house with solar energy (not to be confused with photovoltaics), using a tank or in-line water heater as your backup heat source.The boiler itself, if it is a newer, direct vent, condensing, natural gas unit, it could be up to 95% efficient.  

As I begin to invest into more rental properties, I believe I need a more effective background check and vetting process.

It makes a difference on your personal goals and/or how it effects you personally.

If done right and with the right people and as we say "Don't check your brain at the border", the risks are majorly mitigated so effectively it sends the reward through the roof. 

I love the idea of buying a plot of land and building to our specs but am so unfamiliar with Mexico that I would hesitate to undertake the process. 

It can not be effectively done leveraging everything and having no reserves or working capital in the bank.  

Is it easier and cost effective to register as a foreign entity, and pay whatever fees the states charge?

My real estate agent said the bid was put in for a house on a plot of land.

-- who would be most efficient and cost effective?