What they are for
Do not use properties for occasional notes. If you will not filter, validate or use the value in rules, a description or notes are usually enough.
Property kinds
Choose the kind before assigning the property to many families. You cannot change the type afterward. If you need another type, delete the property and create it again; you will then need to reassign it and enter its values again.
Controlled options
Use Option selection when you want to prevent duplicate values caused by free typing.
If each family needs a different list, create different properties. Do not mix incompatible meanings in one global property.