>you get solar power 24/7 and the latency to earth is just a few ms.
Not at the same time. To have few-ms latency you need to be in/below LEO, but then earth blocks the sun half the time.
It can be done in a dawn-dusk, sun synchronous orbit, less than 1000 km up.
It can be done in a dawn-dusk, sun synchronous orbit, less than 1000 km up.