Property Valuation
A South Carolina vacation rental property in Hilton Head generates seasonal income. The appraiser should use which approach?
ACost approach only
BIncome approach with careful consideration of seasonal income patterns✓ Correct
CSales comparison approach only
DNo adjustment for seasonal income
Explanation
Vacation rentals generate primarily income-based value. The income approach, adjusted for seasonal occupancy and income patterns, is most appropriate. The sales comparison approach using similar vacation rentals can also be used.
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