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? 

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. 

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

Your strategies for the next move show careful planning.

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

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