First Deal Questions (Article of Agreement) What Next?

[Charles Patterson]

So I just got my first deal keyed up.  Two Duplexes.  Great Price, and will cash flow nicely.  Wanted to get it as Owner Financing, but the seller insisted on article of agreement so that he can hold on to the title until all payments are made.  Now What?

I have not got it under contract yet, I have a few pieces of due diligence left to do.

After getting the agreement signed, do I take some paperwork to get the title locked up in some kind of escrow so that I can ensure the seller doesn't do anything else with it?

How do taxes work for the next 5 years (the length of the agreement)?  I already have rentals that I own and leverage depreciation and the like.  But what is the best tax strategy to reduce my tax liabilities as I rent out these properties and they are still under the agreement?

Thanks in advance for any advice.

--Charles