I assume you are posting your question as you are not looking for a "stamped" design, otherwise you would have paid an architect or structural engineer. 

If you go the AirBnB route just make sure you go all in - don't skimp on furnishings, design and amenities - so give yourself enough room to purchase these items.

If you’re buying in a desirable neighborhood and have the capital to do fantastic design and furnishing, you will still do very well.

Customization Building from the ground up means complete control over design and layout, ensuring the property meets current market demands.2.

Design and Planning: Work with an architect to design a project that maximizes the land’s potential.

So I will be leaning heavily on design to create a unique experience that can not be had at any hotel.

Or is this just a theoretical way to gift an asset, but on paper it remains in the parent (grandparent/ gifter's) name?   

Now, it is more targeted and has to be designed and run very intentionally.

VA loans are not designed to build a rental portfolio.

Also, I'm not sure what other assets your parents own and the size of their estate, but there is a major change coming to estate tax laws in 2026, that depending on the size of their estate, gifting may be something to consider while the exemptions are high, which comes with its own sets of pros/cons.