@Jason OConnell, I haven't had any investor action experience with them, but the owner/operators are former clients of my architecture firm and have become friends.  

It involves the three things that I was interested in as a child: business, architecture and law.

My background is in architecture and have worked in various fields in NY/NJ.

I have a design/architecture background and my husband is in insurance.

However, I enjoy more the architecture buildings that South Beach offers.

With a little addition and some architectural dress up, no one would care it's not stick built for rental purposes.

In the meanwhile I will be visiting BP and getting as much info from here and would love to answers any Architecture related questions for people here, regarding code, design, colors schemes etc.  

@Matt GeertsIt's not quite that easy ;-)You will need permits (building, electrical, plumbing, sewer/services, demolition, etc.) and you will need site plans and architectural plans and most probably council approval before you break ground.

For me personally though, I have an architectural background professionally and my husband is a GC, so development makes sense for us and it's what we've always wanted to do because there is more design involved.

Architectural plans, specs, schedule and budget are the primary drivers on a project.