I'm thinking that the trust is an irrevocable trust with it's own TIN and filing it's own return. 

I would not use a living trust, revocable or irrevocable, unless you do not intend to refinance in the future.

But let's say you go nuclear and create an irrevocable trust (DON'T DO THIS UNLESS YOU HAVE A GOOD REASON TO).

An irrevocable trust may not be subject to judgements but then the Grantor/Owner has given up control of his assets.You'll have to give us more information about your situation.Can I assume the family member you are buying from … (a)  Is the Grantor/Trustee of the Trust that is now in title?

From my findings, it looks like LLC doesn't really provide protection against lawsuits and an irrevocable trust will only help avoid probate.

Are not the two irrevocably linked?

You failed to perform as a buyer and you paid compensation to the seller for the damage that you caused.A unilateral option contract requires non-refundable option consideration, because you are buying the exclusive, irrevocable, right and option to buy the property for a set price for a set period.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved."

He was talking about revocable and irrevocable living trusts. 

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.So i looked up the statute which i posted above and it seems that the legality can really depend on how a person is perceiving the the property that is being wholesaled.