Edited to give a better and more informative writeup.
B. Hartline- A solid complementary WR with good chemistry with Tannehill. Comes relatively cheap. 5 mil
R. Bush- A dynamic offensive weapon who gives us depth at the RB position. 4 mil
A. Fasano- A solid and versatile TE who is more than enough to solidify our TE corps. 3 mil
S. Smith- An inconsistent corner with the rare ability to stick with big number one receivers who needs some help so he is not forced into mismatches with smaller, quicker receivers. Only demands 7 mil, so this is not too much of a stretch. 6 mil
C. Clemons- A good complement to Jones that will not make mistakes. 2 mil
Dwayne Bowe WR- Big, fast, strong WR who is like a mini Marshall, without the issues. Outproduced Jennings despite a terrible QB, and a better fit than Wallace, as he is capable of running all the routes Philbin wants. 7 mil
Dominique Rodgers-Cromartie CB- Big, fast, quick CB that is coming off two bad years with the Eagles, mainly because he was improperly cast as a nickel CB. We give him the opportunity to excel as a boundary CB across from Smith. 5 mil
Glenn Dorsey DT- Cheap depth signing with talent. Starks will be replaced by Odrick, and so Dorsey will fill the hole created by the departure of McDaniel. Based on last year, he should be an upgrade over Mcdaniel at a lower price as well. 1 mil
Total- 15 mil
Total spending in FA- 35 mil
This leaves us plenty of room to resign RFAs, small time depth free agents like Garner, and extra free agents midseason. These figures do not include our inevitable restructuring of Dimitri Patterson's deal.
1. Trade- Dallas gives us 18 and their third to move up for C. Warmack.
We take C. Patterson WR. This gives us a big, fast, dynamic WR to pair with Bowe and Hartline, giving us a very strong WR corps.
2a. L. Johnson RT- With the loss of Long, it is essential that we pick up a solid RT to shore up the offensive line. Johnson has a very high ceiling, and has been recently compared to the Texans' Duane Brown.
2b. Trade- We trade this pick and our newly acquired 3rd to move up and take A. Okafor DE. He is an incredibly high ceiling player who Kacy Rodgers, one of the best Dline coaches in the league, should get the most out of.
3a. D. Thomas OT/OG- The loss of Long coupled with poor performance from our Oline last year necessitates additional depth along the Oline. With Thomas, Schwartz, Jerry, and Incognito, we should have sufficient competition for the two OG spots to ensure a strong set of starters as well as quality depth.
3b. D. Amerson, S- He has a knack for making plays on the ball, and should eventually supplant Clemons.
4. T. Matthieu CB- Great talent with the possibility of eventually playing the nickel for us.
5-7: DT, TE, QB- I am not too familiar with prospects this far down the draft. It is worth picking up a new defensive tackle to back up Soliai and Odrick in the 5th, as we seem to have good luck in that round. Another TE to compete with Egnew and a backup QB to push Devlin will round out the draft.
QB: Tannehill, Devlin, Rookie
RB: Bush, Thomas, Miller, Thigpen
WR: Bowe, Hartline, Patterson, Bess, Binns, Mathews
TE: Fasano, Clay, Egnew
OT: Martin, Johnson, Garner
OG: Incognito, Schwartz, Thomas, Jerry
C: Pouncey, Samuda
DE: Wake, Okafor, Vernon, Shelby
DT: Soliai, Odrick, Dorsey, Randall
LB: Dansby, Misi, Burnett, Spitler, Kaddu, Trusnik
CB: Smith, Rodgers-Cromartie, Marshall, Patterson, Matthieu, Carroll
S: Jones, Clemons, Amerson, Wilson
This should improve our oline, secondary, and receivers without going overboard in FA. The only areas of concern are DL and TE. Our DL has changed a lot, but I believe it will actually improve, as the dropoff from Starks to Odrick will not be huge with Odrick playing in position. Furthermore, Dorsey should be an upgrade over McDaniel and Okafor, playing in position, should provide better production than Odrick did last year. Our TEs have not changed, but with our OL improving due to additions to the interior and Martin bulking up, they should produce more than last year. Also, Egnew should improve to the point where he can contribute this year, as I see him as being very similar to Finley.