Or this is a non issue if insurance coverage is not taxable.Many other thoughts and input.

Having a non-slip surface around the pool like grippy porous limestone tiles instead of a slippery surface helps a ton IMO. 

However, some lenders may have requirements regarding the property's condition or completion status.

funding land flippers as a capital partner is my latest thing.. since finding lenders for land is very difficult. continue to fund small developers soft costs for % ownership.and continue to be capital partner for flippers and BRRR folks

Since you are on the Austin forum and stated you are from Texas, I would be happy to get on a phone call or have coffee with you to help you focus on the task ahead.However, let me remind you, I am neither a real estate agent, or lender.  

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

From a practical viewpoint, I wouldn’t think the lender would accelerate the note, if the LLC were a single member LLC, you were that member, and it was treated as a “disregarded” entity for tax purposes.  

As for starting a business, are you looking to start a "real estate" business or "non-real estate" business?

Thankfully the lender talked me in to a 24 month term as it took us the entire 2 years!

I know a lender that can help with both states that does investment lending for very cheap, it would be worth a connection as you look to build out your team no matter what you decide.