Tax benefits of Land contract/Seller Financing

[Craig Herring]

Hi everyone! I’m trying to become more verse in seller financing/land contracts and have a few questions on the benefits for the seller.  
I know seller financing is attractive for sellers for the fact that instead of selling conventionally and receiving a large lump sum that would have capital gains tax to pay they could receive monthly payments from the buyer and spread out the tax payment , the monthly income would possibly replace the monthly cashflow.

I’ve heard that sellers only pay taxes on the interest portion of the monthly payment...is that correct? What is tax rate that is paid vs their typical income tax rate? What other benefits are there?

A while back I heard a BP podcast that explained some other tax benefits of seller financing but I can’t find which one it was, any recommendations of BP podcasts or books related to seller financing?

Thanks for everyone’s help in advance!