Rehab a property - I don't have much experience in rehabilitating a property, but again same problem of low supply.4.

Federal Historic Preservation Tax Incentives: Provides a 20% tax credit for the rehabilitation of certified historic structures.2.

Appraisal and proof of how it affords conservation and benefits the nature/etc will be what is important.In other words you actually have to be giving something up, right to build on that land or even use of the land entirely in some cases.There are also historical rehabilitation credits you should look into.

Is converting our current FHA into a Conventional loan a good option or getting a whole new different kind of loan in both our names (or just hers), possibly an open end mortgage to help with rehabilitation, or just a completely different kind of loan? 

My suggestion is to procure rentals in the same manner as flipping, by acquiring distressed properties and increasing equity through rehabilitation.

If rehabilitation is needed, then reserves may be required as well. 

Upon retirement...seeing as to how people say you get bored if you don't have something to do...I plan on having my own property management company or be a General Contractor in the rehabilitation of homes.  

I am managing all of the aspects of this deal: acquisition, rehabilitation, rental and sale.

City officials are working on the rehabilitation of Chicago’s iconic Union Station, the third-busiest railterminal in the U.S.

This would help you to understand how LIHTC are allocated in your state. http://www.in.gov/myihcda/files/Final_2016-2017_QA...https://www.in.gov/myihcda/2454.htmIn addition, I'd review the list of awardees and see what types of rehabilitations they are doing to their properties.