I paid it and it was well worth it.

What is the point behind having paid off real estate, if you lose it later in life to oppressive taxes?

.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

You forgot to say, or I missed it, how much you paid for the property.

I paid $27,000. 

Plus, you get amazing appreciation potential due to how much population growth, job growth, and companies moving and developing here.

The buyer of course believing he had purchased the house paid a visit to the tenant, who of course called me.  

I found really good deals and paid cash.

If you have a 2 year work history, and go get a W2 job tomorrow, we could use your base pay right away (as long as it is "guaranteed hours" or considered "full time". 

I can take two loans out and I am looking to do it again as my first loan is about paid for.