Venezuela is one of the cheapest places in the world (on record) to mine bitcoin because of the really cheap electricity prices. Anybody feel like going to live there for 12-18 months & setting uo a mining farm with me?

It dosen't work like this.
The electricity you are able to take in beetween the very frequent blackouts is free, but to set up a mining farm you would need support by both governments and the local mafia.
This would be pricey, and risky.
Actually in my opinion the best way to mine would be some kind of agreement with some hydroelectric or nuclear facility, they usually produces an energy surplus which is wasted