All 3 options with 5 Ton single stage 80% efficiency.

The other option would be to consider a duplex or triplex and put a bit more than the minimum down to ensure cash flow stability for the long run. 

These are all things to be mindful of when taking HML, I always ensure the people I work with fully understand each and every detail of the HML so that there is no surprises and your in the best position to succeed.PM me if you want to talk futher to ensure your in best position to move forward.

It's not really an optional thingIf you ARE a trade or business per IRC you should be doing that any way, now more people are just following through to ensure the 20% deductions  

Now you're able to understand if the deal is operating efficiently from an income perspective.

A larger MFR will have a lower per-unit purchase price and you'll start to see efficiencies of scale and be able to force appreciation. 

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

In summary, the deal has to make good economic sense first, then see how to be the most tax efficient.

Yes many flippers try to do the work themselves thinking they can get it done cheaper and because they can't find professional, reliable and appropriately priced contractors that know what they are doing and get it done efficiently.

With a golf course, that seems kinda hard to do outside the active season.The two might go together well, if they can efficiently share some resources (ie, kitchen and staff).