Sell a rental house w/ owner financing and pay 0% capital gains?

[Sigurd Panke]

I am hoping that a CPA might respond to this post. 

I'm going to sell a rental house via owner financing and I'm playing around with various loan amortization schedules to settle upon loan terms where I wouldn't pay any capital gains taxes on the sale. The buyer is flexible and has already agreed in principal to basic terms. A 420k sales price w/ 15% down, 6 yr loan @ 1% interest, yearly payments, would mean that my Form 6252 yearly payments would be around 62k and w/ a gross profit % of 75%, the yearly capital gains would be about $45700. Other income would only be about $6000, for a total income of roughly $51700. HSA deduction and standard deduction would give me taxable income of around 35k. In this scenario, as I understand it, I would pay $0 in federal income taxes for six years while living off the yearly payments. Why a 6 yr loan? I'm 54 and retired and this could get me nicely to 59 and 1/2. 

Am I correct? Any tax pro comments would be appreciated!

I'd appreciate it if replies stick to the topic, which is taxes.

Thanks!