I have a personal sign-up link, so if you decide to make the switch, use my link!

If the trust is disregarded and you and your wife file a joint tax return the property is reported on your personal joint return. 

Personally if you are looking to grow in real estate going the traditional method/way of getting good properties under agreement with traditional financing will get you to where you want to go faster than trying to find all the needles in a haystack.

I personally am interested in creating a long-term rental portfolio but I'd be interested in hearing any strategy, ie. house flipping, short term rentals etc.

They are grandfathered in, the property was built prior to those standards.

-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Ryan Raven most states don't care if you screw up the management of real estate you own personally.The government does have a problem with an unlicensed person/company screwing up the management of properties they do not own.

Personally, I wouldn't open up a home that isn't in good repair, from a liability standpoint if nothing else.

For comparison, a Navy Federal FCU personal loan will be in the 15s%

That could be a PM or you can hire a person to work full time for you.