Editing posts are simple! login to your account. On the sidebar you'll see a link that says "my posts". Click the link. On your mobile device or ipad the list of posts will slide to the right. Scroll over until you see the button corresponsind to the post.
On the edit post page you'll be able to change all of the content from before. To change the primary photo, select "upload" next to it and choose the new desired photo (it will only replace the first image because at least one is required).
After completing your edits, follow the same directions as posting. The edits don't count against your monthly quota so you *could* continue editing the same post repeatedly but it won't display as "new" in the search results.
To delete a post, follow the same right-hand scrolling to the delete button (near the edit button). Deleted posts cannot be recovered so if you continue after confrming the delete, the post will be permanently deleted.
Penniloop counts all posts created in the monthly quota (30). Deleting posts won't affect your posting quota.