As to whether or not the multiple mortgages and their being deductible being an advantage is debatable.

I've heard that mortgage lenders look at the income from a property, take 75% of that and deduct that from the total expenses.

Levi T. this maybe a very good deal. 

Rented out the apartment for the same price as the mortgage, and now I've lived here for  6 years for the cost of utilities... and after depreciation and interest deduction and principal paydown.. even that's probably covered.So...

@Levi Thornton, thanks for the stats.

., like Levi T. said get someone qualified to do the contract and use your standard state association of realtors' contract unless you have a very good reason to deviate. 

I wouldn't walk if anything couldn't you dispose of everything and then send the seller a bill for the removal of the machine and the films or better yet if possible deduct it from your original purchase price.

So I guess the biggest questions for BP nation now are:-Do I have a case against the plumber and should I be thinking about suing him in small claims for my losses (essentially my insurance deductible)? 

My guess is you are deducting only your mortgage/loan costs.

All bills are categorized when they are entered in as either “repairs”, which are expenses that are tax deductible in the current year, or as a type of "building improvement".