Make sure to prepare a professional proposal, highlight your STR track record, and be transparent with your financial projections.

You would likely have to do a ground-up construction for a design you are proposing.

@Kin LayThere could be gift tax, income tax, and property tax implications to a proposed transfer. 

You will not have the rate long enough for it to interfere with your current and proposed profits.This is where having a good team comes into play for example having a seasoned realtor who knows the market on the purchase/ARV side.

I plan to negotiate the rent and I want to present my proposal to show how I’ll manage the property responsibly.

I really want to have them sign a contract that I can drop in the scope, schedule and proposed fees to provide some protection for me.

Quote from @Michael Smythe: @Carlos Ptriawan doubt many would hire you based upon exactly what you've proposed!

There is a new bill being proposed hopefully eliminating Pmi if that gets passed that would be a game changer .

Was looking to save where possible in this market but the method I proposed is not worth the consequences. looks like 20% down it is!

Either way, run your proposed solution through an attorney.