I built this from the remains of a kiddie trailer and the bottom of a wooden crate. I figured out 2 things already: use carriage bolts to attach the hitch to the trailer (done), and move the axle to the middle of the flatbed. To do the 2nd, I need another brace, which I'll try to acquire today.
Any other thoughts? Some close-ups of the trailer are on
http://www.kemenel.org/melalvai/journal/.