1) Offers should be public so teams can make counter offers. Its only fair since some teams will value certain free agents more than others.
2) Teams cannot offer more than their roster space. For example, if the Rockets have 8 guys on the roster after the draft, they can only offer 7 contracts. Last free agency, certain teams were offering too many contracts even though they had didn't have enough roster space to sign all the guys they offered.
3) Teams cannot offer more than their cap space. For example, if the Rockets have 30 million in cap space, they can't offer more unless one of their own free agents with Bird Rights is involved. If they increase the offer on one free agent, they need to decrease the offer on another free agent to avoid going over the cap. Again, last season certain teams were offering more than their cap space allowed and more than their roster space and in the process caused market increase and damaged the free agency process Those teams shouldn't be allowed to do it again.
4) If restricted free agency can be programmed into the game, then we should try it. However, I don't want to see one sim involved with teams resigning their own free agents since players have numerical loyalty, greed, and play for winner which are fairly accurate from my experience. Allowing teams to resign their own FAs with the first sim will take away the balance we have in this sim league.
5) I'm fine with a cap floor.
Rules 1, 2, and 3 are the most important and will make free agency a fair and enjoyable process.