I have just received an escrow analysis statement, and it indicates that's my property taxes for the year will now be $6,839.

As soon as possible after receiving a booking, I personally call the Guest and thank them for booking with us, ask if they have any questions and ask if there is anything that we can do in advance to prepare for their stay.Guess I'm just old school.....But then again, 11 years and only 5 STAR reviews......

Hi Chris, I see that your question received no answer.  

Are you receiving income of any kind?

The seller will always retain the equity and would receive annual distributions - and could structure the agreement with an exit strategy that makes them comfortable. 

You've received excellent advise from others here.

You should also receive Seller disclosures if offered during this period. 

As of date I have received one payment of about 3K dollars.  

And the owner is very responsive to questions or issues (emailed him at night and received a reply within a few hours).  

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!