I’m currently building a team to work with me on house flips and rentals, and I wouldn’t want this land I want for mostly personal use to mess with those goals.Some initial ideas on adding value to the property: -build a pond w/dock, add a food plot, maybe a small cabin to attract hunters/outdoorsmen-fence some or all of the area to make a small profit (enough to cover property taxes?)

2) will my rental home insurance cover my tenant's damaged car?

The percentage depends on the deal and the type of deal it is, whether they're lending on the asset (purchase price) or the post rehab ARV.The asset based lender will lend around 80% of the purchase price (after their own appraisal of the value), leaving you to cover the remaining 20%, any closing and carrying costs, plus the cost of the rehab. 

My question is, are there any programs that can help cover closing cost if your using VA loans in MI?

It's very helpful and seems if it is recorded you should be covered.

We don't have reserves to cover but a small portion of that cost.  

Cashflow Guys actually cover a lot of different topics as do Brandon and Josh on the Bigger Pockets Podcast.

This property also comes with a 2 year home owners warranty from American Home Shield to cover any repairs.

This property also comes with a 2 year home owners warranty from American Home Shield to cover any repairs.

So are you saying the Oakland County would cover Detroit?