This is kinda complicated to explain but very easy to play once you 
understand what you're doing. 
I play the "bass" part on my acoustic guitar all through the verses. 
I only play actual chords during the chorus and at the end of the last 
verse. You can do whichever suits you. :) 

"bass part" 
               
ocultar tablatura
 
    Am                     E 
e--------------------|----------------------------------------e 
B--------------------|----------------------------------------B 
G--------------------|----------------------------------------G 
D--------------------|----------------------------------------D 
A--0-3-0----0-3-0----|------0-2-----0-2-----------------------A 
E--------0--------0--|--0-3-----0-3---------------------------E 
~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^~^ 
INTRO 

e-------------------------------------------------------------e 
B-------------------------------------------------------------B 
G-------------------------------------------------------------G 
D-------------------------------------------------------------D 
A--0-3-0---0-3-0---0-3-0---0-3-0------------------------------A 
E--------3-------3-------3-------3----------------------------E
 
                                                                               

Am - - - - 
My daddy was an outlaw,  

Mom died givin' birth to me. 

They both left me all alone when I was on bended knee. 

Maybe you don't like my story, 

Then I suggest you turn the page. 

I don't need no preacher, 
                            Am(strum) 
I ain't got no soul to save. 

Am           
Well my name is Arkansas Dave Rudebaugh 

And this here is Tennessee Jack. 
                                      E 
Don't you give us any lip now boy or today'll be your last. 
          Am 
When the bank was dry, we said goodbye 

And walked out to the street 
         E 
Where a cloud of bullets come a thunderin' down 
          Am 
and took Tennessee to his knees. 
        Am 
Well I stood there and watched him bleedin' 

Like a fool out in the rain. 
E 
Didn't have time to think when I jumped 
             Am 
Through the banks front window pane. 

Well I grabbed the teller in the blink of an eye, 

Put a colt up to his head. 
        E 
Said, "Careful son, don't you try to run 
      Am 
Or tomorrow you'll wake up dead." 

          D                E                Am 
Yeah, and me, I've got to fly just like an eagle. 
D            E             Am 
Free like a bird upon the wind. 
 D             E                      Am 
Hellfire and brimstone, well they're comin' down on me. 
D              E       Am   - REPEAT INTRO - 
Mister, I was born of sin. 

        Am 
Well I sat down in the corner 

And I rolled a little homegrown. 
                                         E 
Said, "If I'm gonna die today I sure as hell ain't goin' alone." 
       Am 
Well I ran out the bank a'shootin'. 

I was two for two at first, 
       E                           Am 
Til I felt the painful sound as a bullet tore my shirt. 

          D                E                Am 
Yeah, and me, I've got to fly just like an eagle. 
D            E             Am 
Free like a bird upon the wind. 
 D             E                      Am 
Hellfire and brimstone, well they're comin' down on me. 
D              E       Am   - REPEAT INTRO - 
Mister, I was born of sin. 

Am 
Well I crawled back to the alley way 

Where I knew my horse was tied, 
      E 
And that's where all the legends say  

That Arkansas Dave Rudebaugh died,  
                Am  
But I was in a place so far from there 
      E 
In a time so long ago,  
        D 
In the arms of a pretty little senorita  
        E 
On the Gulf of Mexico. 

          D                E                Am 
Yeah, and me, I've got to fly just like an eagle. 
D            E             Am 
Free like a bird upon the wind. 
 D             E                      Am 
Hellfire and brimstone, well they're comin' down on me. 
D              E       Am  - REPEAT INTRO - Am 
Mister, I was born of sin. 

I was born of sin.