Tax liability

Tax liability

Hello everyone!

Im new to this, I haven't sold one property yet, but I cant wait until I do.

I actually have two questions.

1. For someone who has little to no money, and no credit(me), would I have any problem buying and selling a house on land contract?

2. Are there any tax risks associated with land contracts and assignments. I dont want January to roll around and I find out I owe thousands of dollars off of a deal I made.