If you take title in your own name, you have the right (see Garn-St Germain law) to establish and transfer title into a intervivos revocable trust. 

Since the agreement to pay the mortgage isn't an assumption of the loan with consent of the lender, the obligation to pay become a civil matter, the seller can sue for damages if a buyer dings their credit and that can be a significant claim to pay for the bad buyer. 

I told them I needed a deposit (Half of the first months rent) to hold the room which, they verbally consented to this (I have text message records).

In real estate business, both sellers and renters should be clear about the agreement they draw up before they consent to this plan.

Provided you put consent language in your lease agreements, there should be no issue.

My 30k LOC through RBC was closed (without my knowledge or consent) because in Jan, I paid off the balance in full when my house was refinanced.

The contract states "I'm not allowed to rent the property without his written consent during the contract period" I guess I thought screening renters would be okay. 

Set up a revocable trust with yourself as the beneficiary.

Also, I have read that the company that owns someone's mortgage has to, in some cases, consent to the LLC becoming the "owner."

You've got to get consent from EVERY lienholder to pick it up with clear title, and they are all going to want to get paid in full, but might accept getting paid in part depending on xyzabc.