The questions you are asking are far to vague for anyone to have major input or guide you correctly as each person's situation is different. 

Personally, I think the taxes are high and the services you get for your taxes low there.I know people that invest in Detroit but you must know the area down to the street and have excellent property management.However, I just talked to my CPA today about a referral he was sending me who is a client of his that has 30 rental properties in Detroit and selling them all because the City doesn't really help, charges for everything, and they never have given a security deposit back to a tenant after they stayed because of their behavior or lack of payment.

if your ARV is 200K, for example, and it needs a medium or greater rehab, you probably need to buy under 100K.  150K won't cut it, you'll lose money.

The other benefits, or lack of, have been covered by the previous posters.In all seriousness, I would not waste your time, money, and effort on an LLC just yet.

My favorite part is having a dedicated contact person that walks you through the entire platform and helps you get set up.

It's in a part of town that is being revamped from former industrial to nice stores, shops, restaurants, and businesses and I believe there is even some money offered to help revamp that part of town if you purchase something and help improve the area.  

Depending on what the numbers look like some of the funds allow you to pull equity out after a few months. which would hopefully allow you to put money back into your heloc.

He's my friend too so he Venmo's me money.

I would also look up the statue of limitations for the tenants to come after you.This might be a personal liability insurance question.

While I don't do anything with wholesaling, I do/can provide help as a Private Money Lender for you.