Plus you get interest income on top of your principal payments, too.Also allows you to spread the taxable gain out over time, which would help you keep taxable income low and potentially still contribute to Roth IRA in the year that you sell. 

I recently purchased my 2nd property and I am starting to run out of money for a down payment.

@Sharad Bagri  Lots of people say "as long as the payments are being made on time, the lender won't care." 

Aha yeah I dont really trust flippers to do the repairs correctly - Even with my own flip I was tempted to cheap out on it but you always pay for it in the end!

Reno is not one I see a lot anywhere.This is what I would do: make a list of every place you have ever lived and then make a second list of where all of your friends and family live that you trust.

Especially with contractors... my construction consulting team is nationwide so I have a lot of contacts that I trust. 

I’ve approached a local bank in Upstate New York offering a 30-year loan with a 10% down payment.

Hey Ryan, I know there are some folks that provide this service but I'm not sure exactly how it works and how much trust is involved.If it's any consolation, I wouldn't sweat it too much.

Third, what's your down payment budget?

I have three properties with Mortgage payments.