I did the all important first step over the last few days. I created a revocable living trust and named myself trustee of the trust. Now I can use the trust to buy NFA items on a form 4 or to build them on a form 1 without having to have a law enforcement signoff or fingerprints or pictures or proof of citizenship or background checks or any of that pesky stuff. 200 bucks and a form 1 and a copy of my notarized trust documents off to the ATF later this week and once I get the form back I can get started. I used quicken maker to draft the trust documents. Took 45 minutes and cost me 20 bucks. I can assign whatever property I want to the trust so I kept it minimal. Its a real trust so I didn't go overboard. Just the bare essentials.Yes it is legal and I wouldn't call it a loophole more than I would call the ten US parts thing in an AK a loophole. Its just a provision of federal NFA law.Trusts have the same status as corporations under the NFA and never need to be renewed. Got to love a country built by lawyers!