You should research STC rating options.

We have been in the vacation rental space for 8 years with a 5 star rating in 3 states.

I frustratingly see so many deal offers, particularly in Multi-Family space, where GP/sponsor is putting nothing or next to nothing into the equity portion and is collecting 2-3% acquisition fee/ 0.5-1% loan origination fee/ 1.5% yearly asset management fee/ 1-2% disposition fee and then 50/50 splits to 60/40 splits over fairly modest hurdle rates of like 14-15%, and it seems this latter structure incentivizes GP to take more risks particularly with debt options.

I let people know upfront what is the required minimum monthly income, what is the total required move-in money (I pro-rate the second month), length of time on job,  no accounts n collections   etc.   

There are some new hits that were recently announced from Fannie Mae for the LLPAs (loan level price adjustments) that will increase the cost/rates for second home financing.

Especially if the CPA/firm is working on a (high) flat fixed rate.

You may find that what you own already works just fine, or that the yield on 400K is less than current CD rates.  

I would like to transfer the property into my own name so that I can utilize the equity to acquire rental properties.

If you have credit card debts with high rates/high balances I would focus on paying it down to 15% to 30% Max balance to credit limit ratios to lower your DTI - Debt to income ratios, increase credit scores and be in a better position to buy more properties at a lower mortgage rate.

Well first one fails and of course they have transferred title or recorded the lease option.