If this is your first property, you could consider starting with a smaller apartment building and going after the opportunity first, and the property as a secondary consideration.

It can be done for new build but not rehab since all rehabs are different. 

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

You have to know the market before you build a plan and I don't think this market supports your intended plan.

The challenge is the that you need to have a plan for the property that will allow you to improve rent collection, lower expenses or build the equity.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Also, would this loan help build my personal credit, or would it only report to business credit bureaus under my LLC?

That's because they aren't building any more oceans and rivers.

If you can buy a house with a small cash flow and there is room to build a duplex on the back of the lot, then you get free dirt. 

Personally I like the work part and building up to something.