OMG, this is an insane profit.

Unless a PM company has THOUSANDS of doors, this is not profitable. 

The Bayport Dr deal intrigued us due to its market-ready condition, favorable purchase price, and high potential for profit with minimal effort.

but, it's not going to be "profitable" for several years, depending on how you define profit.you'll have a down payment, then closing costs - which new investors always seem to be shocked by - then potentially some costs to get a property rent ready, then you'll pay a month's rent to get it listed and rented out, then you'll likely have some repairs after the tenant moves in.  

Finding an agent that knows the market and can find you properties that provide a profit (for both of you) is worth the effort.One more thing about the contract . . . be sure to read the ENTIRE document and ask for clarification is needed. 

If you do buy a pre foreclosure and follow all the rules and sell within 36 months any profit 80% has to go back to the original owner  who was in foreclosure.Since I made living doing foreclosure rescue prior to this . the new laws removed that activity from my business..

Following the shiny object, throwing money at a market you don't know well, and blindly trusting strangers that have a clear profit motive put you in a poor position to succeed regardless of where you choose to invest.

Nowadays many vacation homes are priced as STR businesses with profits baked into the price (with future guests expecting instagram furnishings).  

my business has currently done 1 flip and we are wondering how much we should take from the profit?

Mortgage surveys have a margin of error of up to a foot if I recall.