We could also use the attorney as the trustee, but that is sure to generate legal fees.Anyone on BP have an opinion or rule of thumb on this?

In 18 years in Real Estate, I can't tell you how many properties I've walked into and encountered someone who wasn't legally supposed to be in the property.

LLC is legal entity that has "chameleon" like features for income tax purposes. 

At least legally.

My reason for mentioning a trust is if you cannot legal transact a deal because you are not 18, then I would think a trust could be set up.

Not an attorney and not providing “legal advice”: As someone who owns and self-manages multiple rentals in Tacoma and has spoken with a couple professional Property Managers, my interpretation is that you need to provide the notice 60 days in advance (i.e., before you want the tenant to vacate or want to increase rents).

My only unanswered questions revolve around what’s legal and what’s not legal in CT.

Paralegals are not authorized to practice law so couldn’t provide you with legal advice.

I have a few questions...How much do you usually set aside for “overhead” - drawing up legal documents etc. ?

A vacant single family teaches you processes: buying an investment property, assessing and performing whatever fixup needs to be done, marketing to get it rented, collecting applications, the legalities of your state's tenant/landlord laws.It's true that when it's vacant, it's 100% vacant, but as you learn how to be a landlord, it won't be vacant often and then it's 100% occupied.