If an investor invested in every one of our 100 + deals since 2015 they’d have an annualized return of 12.4% .  

And even if they do, they can change that at a monthly BOD meeting.Plus, since you are going to have to hire out the 1) Property Mgmt, 2) Repairs and maintenance, and 3) cleaning, your profit margin is going to be very slim, particualry in a condo (which will have a much leaner net profit than a basic house.Not trying to be a downer, but I'd suggest looking at another avenue for REI. 

The plan is to put the rentals in SCH E of our joint return and file with TurboTax-We live in Florida-Leases under my wife's name, Airbnb app under my name, dedicated bank account for all rentals activity in the name of both-We have umbrella policy for liability protection for the rentals-We leverage some contractors (for example cleaning lady for the Airbnbs or lawn maintenance guy) that we pay >$600 for their services in a year and they are not our employees.

But my question is that if we consider other operating costs like maintenance, capital expenditure, vacancy, etc then this property won't cash flow, so is this a good deal?

Access to MLS is one of the best reasons for investors to get their license since it's such a low bar to entry and low annual fees for that and access to all dumps on the market.

Also a good opportunity to learn some DIY maintenance and make some contractor contacts,etc.  

Or if you want something lower-maintenance, stocks or other passive investments could be a good option.What’s your next big financial goal now that the mortgage is off your plate?

Maintenance storage?

From a practical standpoint, I prefer Deferred Sales Trust rather than 1031... ( If one can make annualized 8% from any investments why become a landlord that yields less than 8%, right ?)

@Robert NelsonI Did a condo as one of my first investmentsPros - 1. little maintenance to responsible for.2.