The idea for trusts, preferably irrevocable and Domestic Asset Protection Trusts, can add significant protection to your overall assets, but they can be costly to form and operate.  

My understanding is the only trust that will protect assets is some type of irrevocable trust.

. - As far as tax implications, moving ownership to a revocable living trust (where you're still the trustee and beneficiary) is generally not a taxable event and doesn't change how the property is reported for tax purposes.For irrevocable trusts, it depends on the type.

Transfers to irrevocable trusts for reasons like Medicaid planning often require a new title insurance policy or an endorsement to the existing one.Consult with a real estate attorney or title professional to ensure proper coverage and address any specific concerns related to the trust structure.

I thought that a lien is an irrevocable debt attached to the home forever until it sells.

You’ll want to consult an attorney or estate planner who’s experienced in generational wealth planning to:Set up a revocable or irrevocable trustCreate operating agreements that define how profits are distributed among householdsEnsure clear succession and tax advantages for your heirsBRRRR vs Turnkey in Today’s MarketBRRRR can still work, but with higher interest rates, compressed margins, and limited inventory, it’s more competitive and riskier if you're remote or not experienced in construction/project management.Turnkey rentals may be a better fit for your goals:Properties are already renovated, tenant-ready, and managedPredictable cash flow from day oneCan be scaled over time without as many moving partsHow to Use the $500K Strategically:Put 20–25% down on 4–6 turnkey homes (~$100–120K each)Keep reserves for CapEx, emergencies, and future opportunitiesOptionally, cash purchase 2–3 properties for max monthly incomeRefinance or 1031 exchange as equity buildsIf you'd like examples of markets or property types that fit this plan, happy to share!

I just went through this you have to use a finance company and terms are decentbut you have to put up 100k in an irrevocable letter of credit have stellar credit and allow them to put a first lien on the property etc etc.. but shop around that was the one I got approved from.

I am going to Refi some of my rentals and utilize an Irrevocable trust and an IUL within the trust as well as the Trust owning my LLc’s.

Are these trusts irrevocable trusts or revocable trusts? 

Irrevocable typically wont fly in the majority of cases.For DSCR programs, moving into the property yourself is automatically an event of default and is taken seriously.