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

PLRs will rarely match your proposed transaction structure.

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.

Either way, run your proposed solution through an attorney. 

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.

What you propose is different but in your original post this was not clear.with the additional info, I have seen similar comped with quads.  

Check AirDNA for demand, pricing, etc.The Dekalb Board of Commissioners has proposed regulations for short-term rentals. https://engagedekalb.dekalbcountyga.gov/airbnb-dekalb-countyShort term rentals require you or your property manager to be hands-on and come with more risk.

They can inform you of the process and the chances of your proposed use getting approved by P&Z and/or City Council.

Do I only draft a cash-for-keys agreement after they've accepted the notion of it or just drop-off the proposal/demand?

@Jerry ZigounakisIs the proposed entity supposed to hold title to the real properties?