A few questions on owner financing park owned homes

[Cody Steck]

I own a very small 5 unit mobile home park where 2 of the homes are owned by the tenants, and I own the other 3. I am planning on selling two of the units on owner financing here shortly, but need to get more familiar with what to expect on a few things.

1) How does this affect income taxes? Is it any different than just collecting rent? (I've been a buyer on numerous seller finance deals but never held a note myself before)
2) If I decide to sell the underlying property, I assume that the note would be negotiable and could be included/excluded from that sale? Anything to look out for here? 

3) The value of the property would drop substantially once the homes are moved from home rent+lot rent, to just the lot rent, what do I need to look out for here? I guess my main concern is that I shoot myself in the foot long term because the NOI drops substantially and no longer justifies a high enough price to offset the amount I collected on the note.

Appreciate any advice/guidance from anybody who's done this at least 1 more time than myself.

[Linda Weygant]

@Cody Steck - I agree with @Rachel H. - seller financing is a very specialized area of tax law/reporting and you'll want to make sure you get it right in order to minimize your tax bill.  A smart tax pro can help you calculate the owner financing on this so that your taxes are minimized.

The best part is many CPAs are set up to serve you virtually, so when you're searching for a good one, you can focus on their knowledge base and not be limited to your geographic location.

Best of luck!