Putting a Hitch on my F-304 SR

[HappyCampers]

Well I just got back from the Auto and Boat Show in Harrisburg, and on a whim I bought a Jet Ski. Now I'm wondering about putting a reciever on the back of my trailer. The frame of the 304 is really heavy duty (the trailer weighs a lot compared to other makes in this size) and I already have a rack for the rear. The P.O. made a heavy steel rack that slides on the rear of the trailer. He welded steel square stock to the frame and drilled two holes in each side to bolt the rack in. The rack has slightly smaller tube stock which slides into the stock that is welded to the frame. I've been using the rack for a bicycle carrier, but always wondered how much weight it would hold. The rack and supports are really heavy stock so I'm not worried about that end of it, just the stress on the frame. I'm about 270 lbs and I can stand/jump on it and it doesn't budge. My idea is to weld another piece of tube stock to the center of the rack to use as a reciever for a small drawbar I have left over from my days of driving a VW. The Ski weights about 800 lbs + I figure about 300 lbs for the little trailer. It has virtually no tongue weight to speak of. Does this sound like a legit idea? I've seen plenty of people towing a small Motorcycle trailer behind their fiver, but I'd like some more input. This isn't going to be something that I'm going to tow behind the trailer all the time, just on the occasions that we go to a lake or the shore.
All input will be greatly appreciated.
Thanks, Lowell