As you mentioned when crunching the numbers, you’ve recognized it’s not a “deal” but that means different things to different people. 

Surprisingly, they agreed, allowing us to close the deal quickly and on much better terms.One crucial aspect of seller carry financing is recognizing the tax advantages it offers, especially through a 1031 exchange.

There will be an 'adjustment' at the state level if the state does not recognize bonus depreciation / section 179 expense.Best of luck.

If I buy the property tomorrow, and the owner carries the mortgage, would he recognize the capital gains in 2020, therefore owe taxes by April?

If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up.

I was wondering if anyone here recognize this spreadsheet?

For my first time I hired an attorney, paid the several hundreds of dollars and learned how to correctly have a legitimate business that's recognized by our state SCC (State Corporate Commission).

Hi @Eric Lahoda, I’m glad to see property owners recognize this as an issue.

Do you have any idea how successful the property tax protests can be (I recognize you haven't done this yet yourself)? 

You've got to show you've cared for the property and lived there for many years before the courts will recognize you.