Owner will carry trailer park but what's the best tax options?

[Brett Spence]

I found an owner operator of a trailer park who is 83 and willing to carry the loan for 3 years.  He hasn't been there in 9 years and it's in need of some clean up, trees, junk cars etc. 

Its 64 lots, 53 ocupied and they are all tenent owned.  7 of the remaining spaces have park owned trailers on them but they need repairs. I'll have to find 4 additional trailers and repair the 7. To be full.  

My little craigslist add for a month got me 5 people on a waiting list to move in and do a owner finance.  

Price 1 million with $100,000 down. Lot rent $245 can go up to $350

He wants a $6,600 payment because that's the cost of a care facility he wife is in for her failing health.  He has lots of other money invested and saved he said but doesn't want to really touch it too pay for her monthly expenses. 

I really like the guy and worry he'll pay way more in taxes with interest payments.   Couldn't I back load the loan with 3 years of payments added to the million and then it would be taxed at a lower rate? It would also leave more money to fix up the park quicker. 

He would love for me to present him some different tax options.

ANY ADVICE OUT THERE?