As you get more accustomed to the rehab process, you can gradually take on more complex projects.

I would also make sure to know what type of financing you will be using--the traditional choice is a second home loan, but this doesn't allow you to use future rental income to qualify.

While I can’t entirely say for credit score, a good rule of thumb I’ve found is to have paystubs that verify 3x rental income in monthly income for whatever tenants are paying for property.

At the end of the day your net income will be about the same without the large expense of making it a STR.

For me, it was my way of easing into the rental business and also a way for them to start living on their own.So I get less income than I could AND I lose tax breaks?  

At today's rents that's decade(s) of net rental income even when taking into account any potential increases.Rents however would get $3k/mo on the high end, and more realistically around $2.6k/mo.

You are asking some great questions and the best answer I know to give you is that rental income & expenses can be more predictable in a condo and attract a greater pool of guests. 

From a gross income perspective I think Holden is better but from a price point perspective Oak Island is better.

I have no other income than from my 3 STR's. 

I recently got 2 lots for under your combined annual income (each), that I am planning on turning into good money making potential.