However, everyone involved would need to meet the IRS requirements for a 1031 exchange.Finally, regarding transferring an individual property from the partnership to a member directly, this could be tricky.

I can point you in any direction if you have specific questions or need more information on a topic its funny how note investing is Soup De Jour these days on BP.. 10 years ago no one even mentioned it..  

Since they are deposited directly into my bank account, I don't have to drive around picking up checks and depositing them, and waiting for them to clear.

Have you considered collaborating with them where you could pool your resources and directly benefit from their experience?

The market has a lot of strong points right now: affordable entry prices, great rent-to-price ratios, and high demand for rentals, especially in the Section 8 space.What’s even more exciting is the direction Detroit is heading.

For your scenario, a DSCR loan could work well if the property’s projected rental income can cover debt payments, but most DSCR lenders don't include renovation costs directly.

Would you mind pointing me in the right direction?

So depending on what your investment goals are and what type of properties (Class A through C/D) and where in the city you want to buy, that can directly impact the level of stability one can find within the market here. 

I can't just put the LLC's income directly into my joint personal tax return, right?

So, I’m curious how you are managing to find your deals, whether you are buying at auctions or via marketing direct to sellers.