By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

Asking residents to confirm they had no prior evictions, met income requirements, and had the minimum credit score didn’t ensure they were going to tell us the truth, but it did at least allow the honest ones to opt themselves out.

Keep in mind by building and then selling the home you are going to be taxed at STCG (effectively ordinary income) whereas the land, could be taxed at LTCG.

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.

That income you are making now, is already being eroded by inflation and will continue to be eroded as rates fall.The answer to all of our financial problems is cash.  

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

To guarantee compliance and make wise judgements, familiarise yourself with lease agreements, rent stabilisation regulations, and other legislation pertaining to tenants.The presence of rent-stabilized units can impact potential rental income and appreciation.

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. 

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.

Rents are higher, income is better, appreciation is higher, your basis is lower, and you have much more equity to recycle that cash.