Imagine a car, you can place assets in the trunk passengers in the car and trustee chosen by the trustor is driving or "executing" the trust.

We have placed most of our liquidity into a real estate and used car loan portfolio.

I am an agent and a decent car is a business requirement for me.  

I have a car payment as well and around 10k in credit card debt.

However, I know Dallas has a 30 day policy to register car into the state and it would put me in a tight schedule to find a house in 3 months.

I would say if you don't know the area, you should check the eviction database for that street to see how often evictions occur, you should check crime on neighborhood scout or some other site, and you should drive by the property late at night and see whether you would feel safe getting out of the car.  

Both working okay/fine paying jobs, both worked through school so no student debt, driving old cars so no car payments

It was appraised 1 year ago at $160,000The tenant pays $600 per month (Mortgage/Escrow just went up to $525 per month)Bigger Pockets Rent Estimator says $1,100 (I'm thinking $1,200 after repairs)Zestimate: $192,1002 Beds 2 Baths1,700 Sq Ft2 car attached garageBonus unfinished space over the garage.

The car company is going to repossess the car if payments are not made.  

Both working okay/fine paying jobs, both worked through school so no student debt, driving old cars so no car payments