For the purposes of this section and ORS 18.904, 18.906, 18.908 and 18.912, “residential property” means any of the following property:
(1) Real property on which no more than four units designed to be used as dwellings are located.
(2) A condominium unit that is designed to be used as a dwelling and that is not being held as inventory for sale or lease in the regular course of business.
(3) A manufactured dwelling as defined by ORS 446.003 that is not being held as inventory for sale or lease in the regular course of business.
(4) A floating home as defined in ORS 830.700 that is not being held as inventory for sale or lease in the regular course of business.