We discussed various properties, I got the sense that whenever I started digging into the details of their numbers, he got uncomfortable, and was evasive, he also just didn’t know a lot of things.Then he emailed me that night that two properties just came on the market, and if I was interested, I would need to respond fast.

Might be better to save money for that property rather than put it all into one egg.

I have managed to get myself into a bit of a complex situation on my first deal and I'm looking for some advice. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

The loan on this house is $1,200,000.I moved in to my new primary residence by the end of the month.Starting July, my original primary residence was available as a rental and was being shown to prospective tenants.My new tenants signed a lease that began a couple weeks after showing, in July.To calculate my primary residence mortgage interest deductions, i'm using the following formula:650,000 / 2 = $325000 loan from January to June1,200,000 / 2 = $600,000 loan from July to December$750,000 limit / (600,000+325000 total loan value)  = 0.81 multiplier(0.81 * $X first house interest) + (0.81 * $Y second house) = total interest payed i can deduct from my primary residencedoes this look correct?

There are several things that come into play with determining if a property sale is capital gains or ordinary income. 

Details are too technical to dive into. 

Just have a few questions before we get to deep into the process:What are some common mistakes that can easily be avoided?

When it was built the electrical wqs put in to the code requirements at that time .

My CIPS® designation and global network allow me to offer clients insights into international real estate trends as well.