Wow, this makes complete sense - I have had to think about it for some time to fully comprehend your strategy.

Hey.I'm from Miami as well and learned after 6 months of analyzing tons of deals, that on-market straight-up simple cashflowing deals can be challenging to find here in Miami (Can find some in Little Havanna maybe), however depending on the capital you have and the number of units you are interested in, Broward county (Hollywood and above) can be much more solid. 

I looked into websites like, LawDepot.com, that offer a simple drawn up Joint Venture Agreement.  

@Genny LiThanks Genny, I will go to Home Depot to check out these products, do you think it's a simple DIY project or should I take the help of a professional?

The warranty deed shall convey a marketable fee simple title to the Property free and clear of all liens and encumbrances to the BUYER, except as provided otherwise in this Contract.

Super simple process and easy for both tenants & landlords.

Simple, quick flip.

Keep it simple.  

Simple solution is to go to the city building department and tattle on yourself. 

@Kim LeduffIf you work with your CPA, they will normally calculate the depreciation for you.There are tax software's out there where you can do your own return, however, calculating depreciation is not as simple as plugging in a number.1) Step one - calculating the total basis for building/land.