I happened to speak with a real estate attorney recently who had mentioned that the bare minimum they would recommend for each property is $1MM per occurrence and have at least a $5MM umbrella policy. 

That could be what's confusing whoever you're speaking to. 

How would I even structure that, legally speaking?

I don't mean to speak negatively, I'm just maybe sensing a shift in what the show is about.

Speak to a loan originator and work backwards from target purchase price, to loan amount, to monthly PITI payment, to what she'd need to show to qualify.Doubt you'll be able to pay her enough for her to qualify for a decent loan size:(You're also going to increase the amount of taxes you pay.

Any references for good property manager to speak with in Cape coral FL area

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Regular, small deposits are made each month and I continue to lecture, speak and educate them on the value of time & compounding interest.

@Michael RutkowskiWhether you should speak to a CPA or Attorney regarding questions you have on a 1031 depend on the specialty of the professional itself.Did the attorney you speak with specialize in taxation / real estate transfers? 

It is 100% a market to tap into right now and finically speaking, most people are fools for not doing so.