The electric starts on the 470's are really very marginal. Even when everything is set up properly the chances of the bike starting off the button everytime is not very likely.
Usually what happens when the bike is hot is that the fuel will percolate in the carb and cause a rich condition. My advise for starting the bike hot is...
1) Open the throttle
2) Pull in the decompression lever on the bars
3) Kick the bike through 5 times, this will help clear the fuel from the cylinder.
4) Release the throttle and bring the piston up to top dead center still using the manual decompressor.
5) Release the decompressor and give it a good, smooth kick. Make sure you don't cheat the kick. Start all the way at the top and follow all of the way through.
If it does not start on the second kick, repeat the entire procedure.
This procedure works well for me.
