Most lenders are going to be limited to 70% of ARV ($560,000 total loan amount) but that means they could fund 85% or a bit higher of purchase price + rehab ($560,000/$645,000 = 86.8%), which is solid.

Also, how much does it cost to get set up on this patented software system?

However, a lot of concerns can be mitigated with looking at their past rental behavior in a lot of different settings.

They are very nice and can be helpful providing you what you can and cannot build on your property (Set back, height restrictions, front look etc).

Because counties usually set the fair market value of properties  about 15% below the actual sales value.  

Those positions are hard to come by but if you can find one and get your green card, you're set! 

While great for cashflow, may limit your exit stratgy.Also, How comfortable are you with the offer as well as the overall numbers on whether this will or will not cash flow? 

Maybe the tenant set the thermostat high? 

When you help people with their issues, it will help you also.I haven't set up my facebook business page our completed my profile on Bigger Pockets yet, but I need to! 

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement.