Creating a Usable Lakka Environment

I have a 2 core 8G RAM Windows 10 (64-bit) Acer laptop, a Raspberry Pi 3 (latest), and a 60G external HDD. I have no computers to dedicate to Lakka since dual booting is impossible and my dad doesn’t want me to remove any currant OSs because he has old work info on them. From my current situation what is the best possible way (performance wise) to get Lakka up and running for retro gaming? (If possible I don’t want to spend any money. I also have extra sd cards and thumb drives around.)

Best platform for Lakka? A small Intel-based x86 PC. Use a Live USB (USB flash drive, recommended size 32 GB minimum) and you don’t have to erase the HDD at all. The RasPi3B+ is OK up to PSX, but N64, Dreamcast and PSP struggle a bit (due to the Pi3B+'s GPU/CPU).

Sounds good, but I am hesitant on a live install. Will it be any different from a permanent installation? (Keeping settings, ROMs, save states, etc.) Also, I don’t use the HDD for anything at all and do not have a flash drive that big (only up to 8G). Another concern is I have an Acer (notorious for booting from a external source thanks to the BIOS). As for the Pi, I mainly want to emulate PS2 and GBA/GBC games. My Windows 10 is Intel and I personally enjoy the dual core/NVIDIA setup for the new Lakka VK image. Does this help?