Is there anything specific with the laws or the area in general that makes owning rental property more difficult than normal? 

Know any Federal, State, or City laws that may effect you or what you plan to do. 

Even if it doesn't work for this specific deal, it's great to connect with these types of buyers, as it offers wholesalers a chance to not strictly focus on "equity" deals, opens you up to an entirely different market. 

The industry term for this is “dealer property” there is a great deal of case law on the issue as to what you should be considering in performing this analysis.If the property is treated as inventory, the gain is ordinary income, not capital gain.A conservative approach is to hold the property 2-years post completion to treat it as a capital asset.You should speak to your tax advisor on this issue as it is a complex analysis.

From my experience some investors fear "the rumor" that Miami will go under water,  others fear that zoning laws will change down the road and the  laws will be different,  some are afraid the current "airbnb qualified " properties might not allow short term rentals in future. 

Hey Scott: I can offer some insight into Nevada law (reasonably sure other states will be similar) NRS 645.280  1.  

FL has cracked down on using contracts to circumvent licensing laws.

My ability to sell my fathers place may take 6-8 months as the system in place is "old Spanish law" and you need an attorney to do everything around here. 

Please seek the advise of a local attorney who specializes in landlord/tenant law and not those of us in other areas that are stunned by a $4500 relocation fee!!!  

The SFH is owned by my father-in-law.