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Josephine wants to invest the money she was left by her grandfather. She understands that there are risks as well as rewards when investing in

Josephine wants to invest the money she was left by her grandfather. She understands that there are risks as well as rewards when investing in real estate. Which of the following would be considered a risk?

Increase in wealth through income

Real estate is an illiquid asset

Tax write-offs

Appreciation

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