Then, find out how much they'd like to sell the property for given its current condition and local area comparable sales. 

So PMC charges 8%+, compare that to capital gains and what your kids could inherit with a stepped up basis.

The rental yield is strong due to a growing population, a diverse job market, and a relatively lower cost of living compared to other major Florida cities.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Comparing that to something in a class C area in San Antonio Texas- that customer base values different things in an rental.

I'm trying to navigate purchasing a much higher priced property where it will require a large down payment compared to cash on hand.

You should look at it from business cycle and cap rate cycle , I could send you some charts when it ks more safer to invest at syndication….The risk when market at cap rate 4 compare to when market is at cap rate 6 is vastly different , you may want to wait until cap rates are stabilizing enough before investing so your risk / reward ratio is way higher.also you need dig deeper into supply/demand in the apt market as we are now on highest supply where there is strong pressure to rent growth.

There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Everything could be managed remotely but you still need a person to inspect the property every month or more frequently during stabilization and less frequently afterwards.Being a small-sized but with well established and automized STRs gives a better service comparing to middle size where you are just another client.