If you are planning to manage other people's rental property you will need the license prior to receiving any revenue whatsoever.

That said, specifically what makes you want to pay a 3rd party for plan "compliance"? 

At the same time, I am currently in BK Chapter 13 repayment plan until November this year.

What type of business do you plan to install? 

This will be my first rehab project and I plan to BRRR this rental property.

Also worth noting which areas are appreciating in value, since you’ll have to have an exit plan eventually and the extra value add is a great bonus. 

Your strategies for the next move show careful planning.

To answer your question -trusts are used as part of an estate plan to direct ownership of your property after you die - either passing it to another person or, for your baby’s sake, holding it under the control of another person til the baby becomes an adult.

I would talk to the local planning department and see what they have to say. 

I've found a single-family home and plan to rent it to master's students to generate income.