To demonstrate the feasibility of an optimized set of small-tip fast recovery (STFR) MRI scans for rapidly estimating myelin water fraction (MWF) in the brain. We optimized a set of STFR scans to minimize the Cramér-Rao Lower Bound of MWF estimates. We evaluated the RMSE of MWF estimates from the optimized scans in simulation. We compared STFR-based MWF estimates (both modeling exchange and notmodeling exchange) to multi-echo spin echo (MESE)-based estimates. We used the optimized scans to acquire in vivo data from which a MWF map was estimated. We computed the STFR-based MWF estimates using PERK, a recently developed kernel regression technique, and the MESE-based MWF estimates using both regularized non-negative least squares (NNLS) and PERK. In simulation, the optimized STFR scans led to estimates of MWF with low RMSE across a range of tissue parameters and across white matter and gray matter. The STFR-based MWF estimates that modeled exchange compared well to MESE-based MWF estimates in simulation. When the optimized scans were tested in vivo, the MWF map that was estimated using a 3-compartment model with exchange was closer to the MESE-based MWF map. The optimized STFR scans appear to be well suited for estimating MWF in simulation and in vivo when we model exchange in training. In this case, the STFR-based MWF estimates are close to the MESE-based estimates.