What I would be concerned with is if you can lower your cost of living.

I'm not as familiar with Ft Worth but here in BCS my fourplexes only cost about $50-75 per month for water.

The wear and tear on hardwood floor - carpets has no recourse beyond the deposit damage if there is pee or replacement costs needed.

What is the average cost for purchase, installation, and the associated app?

The buyer can add a performance deed to the transaction which basically states that if the buyer defaults on the loan, the property is transferred back to the seller without a long and costly foreclosure process. 

As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and handling multi-entity structures.

So they'd loan about 450k if your ARV is 1M (assuming this ARV is accurate), and then you can get a gap lender for the difference (180k plus closing costs/points/etc, holding costs).  

Is there anyone that would be willing to look at this property and tell me if it is worth the price and also to give me a rough estimate on what to expect the costs to be?

@Michael Beninati, the difference in your logic is restaurants typically cost $500k and up to get running.  

I have been in talks with a GC in Georgia and his method of building is: He builds everything at costs and doesn't include any markup or fees, he oversees everything, I only supply funding, and we split 50/50 the profits after paying back the bank and all other associated fees.Since I am only supplying the funding for the deal, is there a way I can structure doing this so that this is considered passive income for myself since I won't be involved with the construction or overseeing the project?