It sounds like you did your homework, stayed patient, and only pulled the trigger when it made sense systematically; not just emotionally.  

Note if you do more than one lease option you may trigger the Dodd Frank rules, but your fine to do just one.  

There are many hurdles that you need to get past one by one, the first of which is finding notes but more importantly pull the trigger and buy the damn thing.One recurring problem I've noticed is new investors telling me they can't find deals - but when you show them deals they don't buy anyway because they always think the notes are no good.

MarkHi Mark, The 1031 Exchange would only help him if the sale of the U.K. property triggered a U.S. income tax consequence. 

Also I've found pepper spray to work alright and I don't have to go to jail after I pull the trigger on pepper spray....That being said, I've also returned deposits to people that may not deserve it back, but they were nice to me and made my life as easy as they could.....I like to reward that behavior too.  

@Brandon Hall Seems as though taxes are triggered on the sale of the property so I would seem that you abide by that date in time for deductions/tax basis.

Really I would advise to get your ducks in order so when you are ready you can pull the trigger quickly.

If I were to move to a new house and put my current primary residence under a newly formed LLC, would this trigger a due-on-clause event from my bank?

I'm hoping (without any real data or precedence to back it up) that it will do good things for Woodlawn, hence my eagerness to pull the trigger on the building I'm looking at.  

I am not suggesting you over analyze this.I think you should pull the trigger.