I SOLD a property through OWNER-FINANCING. TAXES and CYA?

[Denise Ortiz]

So, last month I sold a piece of land through owner financing. I made sure I did it with an RE attorney. She just said that I need a good CPA, I don't have one. Honestly for last year, I didn't make enough to get out of poverty line, I hope that will change this year... 

In 2019 I sold my residence so, tax-free money (yay!), rented for a while, then bought a investment property in 2020 for 30K using that tax-free money from the gains of the residential. For the land I only charged $5000 in down payment and that was eaten up by attorney fees for that property and another property I have in the works (Literally did NOT get a chance to even see the money! LOL). It's 15 years for 5% for 35K. I already had owned the land for almost 5 years (and had done nothing with it, except pay property taxes). Including attorney fees and property taxes, I paid less than the down payment for it. In 2020 I bought an investment and have been buying stuff at home depot to fix it up during 2020. I sold my land, for 35K, but I only got 5k and will be getting the rest through the years. 

--I have no idea how to structure this or how to ask a CPA. I mean, what questions do I ask and what should be done so I get an idea, so that I don't get audited or overpay.

--Do I need to give the land buyer some document every year to show he's been paying? I read that somewhere, but now I can't find it and have no idea if it just applies to big banks.

Thanks in Advanced to all who read and/or advised!