1. All of the following are advantages of direct ownership of property as a way of investing in real estate except:
Investor retains control over management.
There is often a "pride of ownership" factor.
There is still some tax shelter benefit through depreciation.
The investment is very "liquid".
2. "Liquidity" refers to:
Location of real estate investment on a river or seashore.
Riskless cash investment such as Treasury Bills.
Ability to trade asset shares in a bar or pub.
Ability to sell without payment of capital gains taxes.
Ability to sell an asset quickly at full value.