I discussed the idea of an LLC with a local banker and he indicated setting one up especially at this stage was something I could easily do so I submitted my application with the state already.

I haven't found many by searching so hopefully someone has these keywords set up!

This ruling sets a wonderful precedent for investors in AZ.

What's his adjusted basis?  

If ones life adjust down the line, they have options, sell to reposition if they need to move out of state, hold on to it and rent it to gain appreciation in the future, etc.  

Now I don't know if you are a believer in the tomfoollery of these asset protection gurus who have you set up multiple LLC's but, however, that theory of keeping everything in separate vaults does not work with getting a NonQM bank statement loan for example which could be used as income.You live in the property- owner occupancy also limits you from many commercial or DSCR type loans.

Second thought is that a HELOC will also be tied to prime so that blended rate could adjust over time.

Appreciation can.If you've got 10 properties cash flowing $200/mo apiece after you pay the mortgage and all expenses AND set aside a repair reserve, well...great.

In order to obtain homes in a competitive market, be open to investigating various financing options.Off-Market Deals: Take the initiative to look for off-market deals by using internet resources, direct mail campaigns, or money-driven searches to locate motivated sellers who might be willing to sell their homes for less than market value.In the end, success in the SLC real estate market comes from perseverance, understanding the market, and being flexible enough to adjust to shifting circumstances.

how can set up this whole system (MTR) while being out of state?