+1 on the cheap bucket. For about $1 more, you can buy a white food-grade 5 gallon bucket at Lowes.
Oxy is OK to clean aluminum, but you don't want it soaking in there at a high concentration for an extended time. For soaking/de-labeling bottles, our kitchen sinks work fine.
Good Temp Control -----> Happy Yeast ------> Tasty Brew