Neither, bought it through a discretionary trust so I can allocate the income more tax efficiently.
Easy, tenants are far better, especially in your price range. Multi year leases (average 3-5yr, plus a further 2 x 3-5yr option for extensions), less tenants and moving parts requiring maintenance such as bathrooms, kitchens etc for the same value (ie 1 x $3M commercial might just have a single tenant where $3M in residential would see you have 3-4 tenants, 3-4 kitchens, 6-8 bathrooms etc). Rates, water, property management all covered by the tenant as most leases at net leases and all outgoings (including land tax) are covered by the tenant. Leases increases yearly (generally 3-4% or even better CPI at the moment), tenant pays for fit out.
Commercial is more stable (when you buy right) and produces a far better cash flow. One of the main reasons I went that was to allow me to use that cash flow for higher risk/higher growth investments.
Listen to podcasts from Helen Tarant from Unikorn, Scott O'neil from rethink investing or even Steve Palise
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