Ive seen the heavy angle welded to the frame, with an ez lift receiver welded to the rearmost piece, and multiple reinforcements, depending on what they were towing, a small chrome plated on with two flat stock bars that went across the rails, with a third bar that went from front to rear, with a 2 inch ball. I still have that one, and then there was the one wheel trailer my grandfather pulled from Oklahoma to California in the 50's behind his 51 Chevy. the front of the trailer on that one clamped to the rear bumper.
I am in the process of redoing the body on my Biscayne, so looks kinda ****py at the moment...but here is what I recently did for a trailer hitch set up. Took an old Reese Hitch and cut it up...then welded in place like this.. Works very well for me, and doesn't stick out like a soar thumb.
Here's what I ended up doing: I used a piece of hot rolled bar stock (I ordered cold rolled which is cleaner, slag free and stiffer but that wasn't what was delivered). It's 3" Wide and a 1/2" Thick. There are two large holes at each corner of the stock Olds frame where the back rail meets the side rail. That looked like a good strong place to attach. I used 3/4" Grade 8 bolts and thick structural washers as well as lock washers and Grade 8 nuts and welded two short pieces of the same bar stock from the bar to the bolt holes. Before mounting the bar I welded two short pieces of 3/8" Angle Iron to it to catch the big boltswhich catch two of the bumper bolts, which I replaced with longer Grade 8 bolts. I welded the tongue to the bar using a piece of the same 3"W X 1/2" flat/bar stock and welded it on four sides. If I didn't have a good welding machine I could have used three or four 1/2 Grade 8s to attach the tongue to the bar. The biggest drill bit I had was 3/4" and the ball mount required a 1" hole. I wasn't about to drive an hour and pay big bucks for a 1" bit and I didn't want a ragged torch cut hole so I used a die grinder for a half an hour. To get the right tow height I used a 2" ball with a 2" rise. Then I realized my springs were shot. I ordered two new leaf springs from Michigan Spring and Bushings. The shackles are dished on the Olds rather than just straight so I ordered a set from Fusick's. I used R&S Spring in Bladensburg, MD for many years when I had my business but wasn't happy at all with the biggest job they ever did for me. That's why I got the new leaf springs from Michigan.