Tax issue questions about selling an investment property with owner financing.

[Jeff M.]

I have a property I'd like to sell. Owned for years, no mortgage, and fully depreciated. I have a buyer with an interest to purchase the property with significant $ down, and for me to owner finance.

How will my long term capital gains and recapture tax come due?

The first year, will I pay a pro rata share of the long term capital gains and recapture taxes of the principal portions of the mortgage payments plus the money down?

Would be nice to earn the interest and spread the taxes out if I'm not off base.

Obviously, I'll consult a CPA, but was wondering what the posters think.