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

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

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.

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

I am offering 15% interest on the initial investment plus 40% ROI after a six-month grace period.

He will pay sales commission but get his BHA back and have lived for rent free. 

OpportunitiesAffordability: Compared to many West Coast markets, Albuquerque properties often come at a more affordable price point, making it possible for investors to get started without a massive initial capital.Rental Demand: Due to the presence of UNM and other educational institutions, there's a consistent demand for rental properties, especially those close to campuses.Cultural Appeal: With its rich Native American and Hispanic heritage, Albuquerque offers cultural festivals, markets, and historical sites.

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.

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.

Electric heat can be very expensive in the winter so I would always encourage landlords to have tenants pay utilities so they have some incentive to conserve.