1. Heat oil in a Dutch oven over medium-high heat. Sprinkle chicken with 1/2 teaspoon salt and 1/4 teaspoon pepper. Add chicken, flesh side down. Cook 10 minutes; turn thighs after 5 minutes. Cool; shred. Discard bones.
2. Add onion to pan; sauté 10 minutes. Add garlic; sauté 1 minute. Place herb sprigs, halved peppers, and bay leaves on cheesecloth. Gather edges; tie securely. Add sachet to pan.
3. Stir in water, potatoes, corn kernels, and cumin, and bring to a boil. Reduce heat to medium, and simmer 15 minutes or until the potatoes are tender, stirring occasionally. Remove from heat; discard sachet. Stir in 1/4 teaspoon kosher salt. Garnish servings evenly with avocado, cilantro leaves, and grated lime rind. Serve with lime wedges.