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Renting a car at MIA (or, more accurately, actually finding the rental agency when you return the vehicle) can be a pain in the neck because of the perpetual road construction around the airport. That said, I'm cheap, and it would probably be less expensive to rent a car for a day rather than pay cab fare.
As far as where to stay goes...I was going to suggest getting a hotel room in Aventura. I've stayed at the Courtyard, which is right down Biscayne from the mall, and it was perfectly fine. The entire area around the mall is quite safe, and there are some more lavish options (e.g. Turnberry Resort) in that area if that's more your style. But, if you're coming in on a weekday and were to stay in Aventura, you'd be fighting rush hour traffic on 95 coming and going. So, that might influence your decision.
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