Remember, if you sell it, you'll have capital gains that you will have to pay since you are buying the other property before you sell you're old house.

Going to guess the $797 is rent only, with tenant paying utilities.

One year ago, I was hired to help a landlord whose tenant had stopped paying.

For example, in my state PA there is an inheritance tax and many TAX auction properties originate from people passing away and the heir(s) not taking control over the estate and paying those property taxes.

If you pay off a property or owe more than it’s worth, you can still owe or not owe capital gains tax.

@Helena Lee, I do not have experience with it, BUT I would expect to pay capital gains on the bitcoin. 

You might be surprised, but your rental properties have more in common with dividend-paying stocks than you think!

If you do have a TX LLC just to hold a TX property, you still have to register in CA as a foreign LLC, which still means paying the CA LLC tax.

So I did not pay extra for it, but chose it anyway over other places.

Quote from @Ricardo Lemus: For a newer investor, a good investment is a property that pays for all expenses with some cash left over.