This often leads to confusion because the term "trade or business" is mentioned, leading some to mistakenly believe that the entire business can be exchanged.

Not to mention, you're adding an appreciating asset to your portfolio. 

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.

Scott - I'm in the same boat -- looking for STRs in the area you mention, as well as closer to Asheville (where I live). 

@Kyia Raiford, I concur with the advice mentioned above.

Also not mentioned but worth noting.

The other thing that concerns me is you mention that you are both high income earners but that you are “trying” to save an emergency fund.

What did the OP mention that would deemed as fraud?

BUT, like others have mentioned.

As Stuart mentioned, there are several issues that might arise with the property, which could definitely impact your cash flow.