If you and your wife file a joint return, if the LLC is taxed as a sole proprietor and reports on your personal tax return, and if the trust is a revocable living trust then all of those would be disregarded entities and the tax payer is still you and your return after 5 years - 1031 away.Aside from that there is not statutory holding or seasoning period. 

@Shachar Hess I think disregarding entire states, especially where the majority of the US population resides, is a mistake.

I am disregarding that and doing my own research.

If you have an LLC but run all the finances through your personal bank account, it is easy to have the LLC disregarded in a lawsuit. 

The best way is for both partners to contribute labor equally and then you disregard the labor.

Please disregard 

If you have already bought the laminate, then obviously disregard, don’t want to stress you out, but if you haven’t, you might look into LVP.Be sure to take lots of pics as you go and post! 

Try explaining that your partnership LLC is now a disregarded entity because this year it is a single member entity with a new entity as owner.  

In that way, the member managed LLCs are considered disregarded entities, and so I would only need to file 1 (I believe, Federal) tax return.

And for tax purposes, the LLC is disregarded and the rental income and expenses go on Sch E of your personal tax return.