We would be living in the house for at least 2 years because my understanding is that is when you are free of capital gains taxes if you decide to sell.

Downside to this is there are some tax implications due to tax basis3.

They can at least give you the address that they mail the tax bill to.

Monthly income, expenses, insurance, taxes, etc)?? 

The state of Alabama purchases the delinquent taxes from the county once they dont get sold in a tax sale so that the municipality can pay their employees.

Just be sure that the property will cash flow enough to cover all your normal expenses (debt service on the 30 yr loan, CapEx, repairs, vacancy, taxes & ins, etc) PLUS enough extra to pay off the LOC in a reasonable anoint of time.

I feel that I paid way too much in taxes last year.

They are in outliner areas and seem to be growing rapidly because of their price points and lower taxes

With my prior experience in both traditional commercial lending, government programs, and tax incentive programs (TIF financing, LIHTC financing, and NMTC financing) I hope to be able to add value to other members while also structuring several deals and manage assets.  

I'm trying to find out the tax implications of a seller finance I'm considering.