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I would had couple medium and large island build and upgrade to City "artisans" but I put limited number of artisan, but forced on many farmer and worker as they don't need mines like iron mine, since iron mine and all kind of mine is very limited supply as Artisans is need those mine, but not your main island, your main island would forced on engineers and investors as you get those share workforce dock, all other medium and large island supply workforce of famer/worker/artisans to your main island while your main island forced on engineers and investors, you make lot of money even royal tax don't hurt much, but royal tax would be more better if engineers and investors more on other island in that same map, but not worth it due resource and space is kind of limited from that point.
Influence, space of island, high end resource like Brass or gold is your worry while you don't worry about money in end game. In early game influence, space, and resource is least of your worry while money is your main worry, but in the end of game it's other way rounds. money is your least of worry, but space of island, influence and high end resource (not farm and tree resource, it's mines mostly in limited supply is your major worry in late game. Had fun learning!
https://anno1800.fandom.com/wiki/Royal_Taxes
I gave up and started a new sandbox map and guess what, now houses generate income... dunno if it was a bug, probably it was.
Thank you again.