Hello All,I am currently purchasing a 2nd mixed use property in the same market. 

A good way to crush the 1% rule in a market that doesn't offer too much of that, but you are basically writing the property off after however long you plan to implement the strategy for. 

Quite often I see the seller requiring some type of downpayment, with interest only payments (usually higher than market rates) for X years, with a balloon payment due at the end of the term. 

Rented at top of the market and was able to sell after 5 years of generating 30k annually, at a rougly 125k profit above what was spent to purchase and renovate.

IT Business:With $250k in cash savings and significant untapped equity in your rentals, you’re in a strong position to leverage your existing real estate knowledge to grow your portfolio further.The real estate market, particularly with your ability to do your own rehabs, might provide you with more immediate and scalable opportunities for wealth building, especially if you can find properties that need work and force appreciation through value-add strategies.Balancing Both:You don’t necessarily have to give up the IT business entirely.

Assuming I could get ROI of 10% over 20 years investing in the market, what would you do?

Upstate New York will generally qualify with standard markets such as Travelers, Nationwide etc... there are a few other property programs that do very well depending on the size.

So the facts are that you will only get paid roughly equal to the market rate for this service in your area.  

I have been hearing good things about the market.

If there is any way you can avoid marketing to section 8 you will be far better off especially in regards to the quality of tenant you will get.