Low HOA fees ($1000/year) and close to the mountains and casino.

That's far from a definitive answer because its an owner occupant and a single family, but I would imagine if you e-mail the house/building department they should be able to give you a firm answer.  

Here’s why:- unless you strategically reported your taxes as making 100% income and not reporting an entire loss on your schedule e - you will most likely not find a lender who will qualify you for a HELOC.

With developments like the new casino in Ras Al Khaimah and expected population growth, the appeal is growing.

I would ask the lender you applied with to disclose how they calculated your DTI... sometimes they fail to add back in depreciation or deduct costs from your schedule E like tenant turnover, improvements, etc. that shouldn't be included in the DTI calculation. 

A full rental P&L such as seen on Schedule E?  

The first 699 E Gold Dust, San Tan Valley AZ comps around 375K and I purchased for 393K so I'm lost about 18K equity by purchasing.

Once again she e-maild me back this... 

Letting go of that slice of control is hard but once you do it's quite freeing which is hard to put a price on in my opinion.You must have read e-myth by Michael Gerber!  

Thanks  So I did put my CPA and attorney together to create this structure.Everything rolls up under my personal tax return and there is a schedule E for every property.