It really comes down to your learning style - whether to go online or classroom.

He would last 30 minutes of his business day grab a few of the complaint forms at Nestle and call the peron. so he would get on the phone and say this is Mike I am president of Staufer foods and you had a complaint about our mac and cheese.. he was talking to a house wife in Kokomo or some other city.. take notes then discuss at management sessions... lots of take aways from his business style.

It may reduce the reason you have for your LLC to go through the style of funding you are proposing. 

Maybe searching for a partner and get right into new build projects.. or do I need to prove myself on a few more smaller renovation-style projects?

My style has been to only buy something I would live in, which typically landed good tenants that I can easily relate with. 

Not my style!

The house itself is a colonial/farmhouse style that would be absolutely gorgeous with a new coat of exterior paint.Should we try to take on the existing mortgage and flip the house?  

Things like death, divorce, college funds, change of life-style and loss of employment or income can quickly create a serious need for immediate cash.When you design your seller carry-back mortgages with the good terms (for you), like I teach students how to do, they have much less market appeal to professional note buyers.

Is it a Cape Cod-style home?

I could see it working well if you have a good system for roommate style rentals (student housing, house-hack).