Sorry to confuse you but, bottom line is, LLCs are not tax saving vehicle, they are for asset protection. 

If this is what you have been looking for and you have talked to the seller and found out his story of retiring from the game, looked at the numbers and it makes sense for your "WHY", then all that is left is to execute on the deal and stay on course with your due diligence on the asset itself. 

Can anyone recommend a good software program to keep track of rental properties?

You were handed a $1.1m asset that has $320k in debt on it. 

If so, then from your perspective the transaction is treated as though the LLC distributed all of its assets to the members (including you) in liquidation according to the distribution provisions of the operating agreement, and then you purchased from the other members the assets that would have deemed to have been liquidated to them in this hypothetical liquidation scenario.Of course there are some complexities here (are there any built-in gains?

Creating relationships with asset managers and building a team that can help you execute your due diligence and acquisition protocols is essential.

That way you're adding to your assets and getting a good return.

The cap rate or rate of return investors require to own an asset will rise when lending rates do. 

How would you think a software service that caters solely to the project management of a flip/rehab would work for you?  

A couple caveats - I'm not talking about anything beyond guest communication - we have our own software and manage the listings, calendars, pricing, etc.