Hi Daniel, as a Miami-based Realtor who works with investors on new/pre-construction purchases, as far as location is concerned, I agree with your choices of Miami Beach and Downtown Miami.  

They are a poor choice in most situations. 

The process you are referring to is what we call a consolidation exchange, where you would sell multiple properties to buy a  larger property.

I had very few choices.  

We would be so grateful for any input, experience, or recommendations from homeowners or agents regarding what would be the preferred choice for 1) attracting rental guests in the short term, 2) retaining value for resale and not looking dated in 10 years, 3) protecting ourselves from accidents.  

With the new/larger Valley Hospital in Paramus and several travel nurse postings around there, it seems like that may attract some potential renters to the area (at least from a healthcare perspective). 

There is a much larger learning curve for a renovation project than there is a straight rental - especially if you are not doing the work yourself.  

I am pursuing a few larger companies myself as I am building 3 different ADU projects this year, but I haven't really gotten started enough with any of them in order to give positive/negative feedback.Do you have financing already setup for your project?

When you say a "salon suite" is that just like a stall within a larger salon space or what?

We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases.Now we syndicate larger self-storage deals and work with passive investors.