Owner financing tax advantage?

[Benjamin Norris]

I may have an opportunity to purchase two multi family units from a husband and wife I recently met. I believe there isn't a mortgage on either property at this point. I'm curious if there are any tax advantages for them if they would hold the note on the properties for me instead of going through a bank or other private money lender. Properties are in upstate New York. Any advice would be greatly appreciated for this newbie, thanks!

[Jack Shea]

I send a card with every payment that says "if you would like all or part of these payments in advance please contact me". I have 1000 printed like business cards. Sometimes they need $5000 or $10,000 to buy a teenager a car or put on the roof, etc.

I tell them that will be X number of payments skipped. I use 18% in my calculator to determine the number of payments. For a whole note discount 75% of value usually works.