Mark

I didn't end up going through with the purchase due to other reasons, but I got as far as a GFE on the cheaper one (it was below market, and it was marked as a portfolio loan). 

@Mark Kelley Most of the insurance companies will have a question on their application that goes, "Does this building have fuses, pigtailed fuses or aluminum wiring". 

I am paying his mark up to manage the project, in a sense, so that my time is not consumed with customer relations.

Mark Ferguson has a rule of thumb on this call.

@Mark KelleyI do much the same.

The only potential issue I see with HELOC to fund buy and hold is that HELOCs typically have 10 year interest only period (draw) and 15 year amortization period.This means that you CAN refinance at the 10 year mark to have flexibility but that assumes the market will bear the refinance and you cant control timing well.

Watch this quick video on ABC10 News for an overview of the trends going on in Sacramento from all the Bay Area migration:http://www.abc10.com/news/local/sacramento/what-you-need-to-know-if-you-want-to-buy-or-rent-in-sacramento/434803817Here's the summary:- People are moving to Sacramento from the Bay Area- We don't have enough housing inventory to meet the demand- So rents and home prices continue to increaseSkip to the 0:40 mark to watch the property manager state that he has tenants willing to sign leases before even seeing the property hahahaha."

Now if you wanted to refi before your one year mark that may be possible, I'm not sure though.

I'll second @Mark Allen on his recommendation for Scott Horne.