This includes 1 off-street parking spot - which is very desirable in South Beach) HOA is $802 and taxes (with no exemptions) are $3192.

Finally, if I were in your spot I would be interested to learn, if I could, more about the circumstances of the potential tenant.

You've landed in the perfect spot to kickstart your networking and learning journey.

There’s a 5 car lot on the corner of the property, of which 4 spots are rented currently.

I just went to refinance on one of my BRRRR projects & did a quick number spread on return on equity & realized I was in a better spot to sell & 1031 leveling up to a better property.  

You're spot on that you need to walk a property yourself, especially when you're new and don't have a reliable team established.

The irony is, the more S8 housing that's concentrated in an area, the less likely that spot is to turnover to homeowners and push prices higher.This is something I keep in mind when placing S8 tenants. 

Based on Zillow and FHAs FMV numbers it seems to be in the spot, but perhaps it may be too high.

Eventually, I built up enough wealth and cashflow that I could start occupying the nicer spots, and eventually stepped up to nicer and nicer homes for myself.

You've landed in the perfect spot to kickstart your networking and learning journey.