the best way to do this is to have lawyer write it up. the second best way is to purchase on online (BP sells state specific leases, prepared by attorneys) and you can always make some modifications to it...but the most important part is to run the purchased lease by a local real estate attorney to make sure it and any additions comply with state law

He also import his own material from China and can use that in his advantage to offer lower than anyone else

Tenant screening is pretty important with either one and the apartment complexes you can usually afford a management company to do the daily BS for you. 

With a lux condo, it also becomes that much more important to get the right tenant.

This is an important tool for anyone buying a tenant-occupied property.

There is nothing wrong with either but it is important to be clear on your goal as otherwise you will likely fail at both.

In my opinion, I would not go into condo around Houston unless you can buy the whole complex since there are so many deed restrictions (very important).

In those cases, it is important to act fast when you realized you made an error in judgment  and remedy the situation as soon as possible.Just remember that someone who is renting is renting for a reason.

Do you think it is important in the Mid-West, Chicago to be specific, to ask for the fact roof to be coated in aluminum to protect from UV Rays?

This is probably the most important thing you just said here (all of it is important though)