If water is an issue you can set something up by running a hose from a neighbor to your main water supply that comes into the house if others have water.

However, it does limit when it must be returned (within “a reasonable time” after a tenant moves, usually 21-45 days) and sets other restrictions on deposits.

I don't have good enough GC connections to set it up long distance.

I have about 350K in cash and about 900K in retirement funds that I could access, I think tax and penalty free by setting up a ROBs (a method I am investigating that via the tax code apparently lets one use retirement savings by setting up a C corp and funding a company by buying stock in it with retirement funds).  

If you have $400K equity in a set of properties worth $4 million, you'll have a tough time getting any of it. 

I would talk to your real estate attorney about setting up a syndication.

I bought the home in my name but have since set up an LLC.

Or should I set up an LLC first?

That is NOT a set of goals, a plan, or even a target.  

So I'm getting ready to head to the bank to hopefully set up a line of credit.