I have a single phase air compressor 230vac. But the only outlet in the house I am renting ( why I will not run new wires and breaker) is what I assume a 3 phase for the dryer. The outlet has a red, black, white and ground. If I am correct then I can use either the red and black or the white and the black plus a ground and this will allow my 220/240 vac for the compressor? Yes?

Residential typically doesn't have 3 phase power.
Residential dryers are not 3 phase.

What you likely have is 240/120 outlet or a 4-wire 240 outlet. This consists of:
Green/bare = ground
White = N= Neutral
Red = L1
Black = L2

Between L1 and L2 there will be 240 V. Between L1 and N there will be 120 V and between L2 and N there will be 120 V.

Your compresor likely requires L1, L2 and ground. Don't use N.

You are a smart man... I do live in a highly industrial area and 3 phase is available but you are right those are the exact wires.

One more quick question if you have the time to entertain it.

If I use 10-2 about 15ft from the outlet to the compres

If I use 10-2 about 15ft from the outlet to the compressor( 230 1 phase fla 15 fr 58. Dou think I will have any load/heat problems? I only use it about 2-3hrs day for porting heads and running some air tools

Can you post the rest of this sentence "if i use 10-2 about 15ft from the outlet to the compres" as "Post quick Answer"