Additionally I would suggest having the long term financing relationship built so that they can easily transition the deal after renovation. 

However, there are risks, such as stricter lender requirements on the use and location of the property, and lenders may require you to prove that it is used primarily for personal vacations (not exclusively as a rental).Additionally, using it for short-term rentals could lead to changes in loan terms, and some lenders may not approve if they suspect the property is being rented out frequently.

In addition to checking the loan docs you should also check the zoning in this property.

I had belatedly realized that FHA goes off personal credit and therefore I couldn't use the LLC for it.

Incidentally, I cancelled last year when it auto renewed as well - I guess I've got to completely delete my profile and close the attached credit card for a cancellation to stick?

To get started you need an additional strategy that helps you build cash.  

This is probably a place where you go to one of the personal loan sites to borrow money or maybe a credit union. 

It may or may not show on a credit report, depends on the servicing and you should have the loan serviced.Failure to include the debt on a future loan application is mortgage fraud, wanna go to jail?

If there isnt a long term commitment where he takes you to collections and destroys your credit for quitting early, $700/mo invested in yourself will not bankrupt ya or matter much 5 or 20 years from now. 

Most local banks and credit unions will have free accounts.You need two accounts: checking and savings.