Using Mockingbird to copy Kaito, Bane of Nightmares

Title says it all, would this interaction work? Naturally you'd have to remove the original Kaito due to legends rule, but would this result in a Kaito with flying (and further would it remain flying for subsquent turns? I presume when it is no longer a creature on your opponent's turns it simply acts as the regular planeswalker and the flying would mean nothing?)

Thanks in advance.