which of course i would periodically make large principal payments on my main home's mortgage, then eventually rental mortgages.Would you think it would be safe to even put the rental expenses into HELOC. 

That will be your best bet.  

I would look into that I bet it does cover the physical buildings. 

“As rental housing providers, we have a responsibility to provide a safe environment to residents,” he wrote in an emailed statement, “and a huge part of that is knowing the background of each applicant.”Oakland’s new ordinance is the strictest of its kind in the state.

I'd like to begin growing my own portfolio of cash flowing properties to hold onto long term.I've been saving for a house under the impression I needed 20% to be safe but have since had my eyes opened after going to a local event NetWork to Grow Your Net Worth and since then I've been doing new research.

That has proven to be a safe long term number. 

I recommend that you stay on the safe side and do send 1099s to your wholesalers.You do not need to send 1099-MISC in these cases:You paid the contractor electronically (like PayPal or credit cards).

>I am told this is an up and coming area I'll bet you were. 

Your best bet is to use a good real estate agent in the area.

To be safe, allocate 20-25% against the gross income for both properties and then use the remaining numbers as the true NOI.