I would recommend taking a  look at some of my previous posts which emphasize the action items you as a rental property owner should be implementing that have a far greater impact on asset protection than merely forming an LLC.

2 - What do these two rules tell you, if anything, about how they impact your specific REI situation? 

If rates rise, it could impact your monthly expenses.Construction Timeline and Costs: Construction projects can sometimes run over budget or take longer than expected.

During my research, I’ve come across some local regulations that could potentially impact my plans.

For those who’ve used private money for multiple flips, how has it impacted your ability to scale?

Nope. 99% of LLC’s ar “disregarded” and have tax impact. 1% file their own taxes and cause you to pay higher tax totals. 

The potential elimination of the 1031 exchange could definitely impact strategies.

your credit score would not plummet, but you are still responsible for the debt so it will still show up on credit and it will impact your ability to get credit.The only way for her to truly buy you out is to refinance and take your name off of it.My recommendation would be to sell the property, as you may be on good terms now but that does not mean you will be on good terms in the future.

Not allowing pets could impact the marketability of your rental, especially in cities like Dallas.According to the article:"Data from Zillow reveals that twice as many renters filter for pet-friendly listings compared to any other amenity in the country’s 25 largest rental markets.

But I am sure there are still guru's out there preaching land trusts with no clue of the negative impacts to folks that think they are going to dodge due on sale or the paranoid ones who dont want anyone to know who they are.