At first I explored the idea of tilting and moving the aircraft from the bottom and projecting the ground up into a screen under the airplane. The idea is to attach the airplane to a linear actuator for altitude, a single servo at the top for pitch control, and place it all on a rotating base for bearing control. 

To see the video of the ground under the airplane, I needed to cut a hole in the middle of it. A normal LCD screen can't have a hole in it, so I'd project my computer on a projector screen. 

I thought this assembly was going to be very tall, so we have the option of reflecting horizontal projector off a 45º mirror (that also has a hole cut out of it) to get the vertical image.

The benefit of this design is how invisible the mechanisms could look. After hiding everything below the screen, only the pole and a small servo are visible. That leaves a big screen and airplane to look at. 

The main drawbacks to this design is complexity and a bad screen quality. The mechanical assemblies are going to be hard to make. I choose to not add a second servo for roll to make the wings tilt for turns. This whole design could easily be two feet tall for one foot of altitude. Also, the pole holding the plane would cast a large shadow on the projection screen.

Overall, this design is a starting point.. but has many drawbacks.

I also considered a more complex assembly of mirrors to reduce the shadow casted by the pole... I don't see this idea being pursued.

Back to the drawing board!