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An income property is a type of real estate investment that generates income through rental payments. It can be any property that is leased out to tenants, including:
Residential properties: Single-family homes, duplexes, townhouses, apartments, and condos
Commercial properties: Office buildings, retail spaces, warehouses, and industrial facilities
Specialty properties: Hotels, motels, vacation rentals, and self-storage units
Income properties can offer several benefits, including:
Rental income: Generating a steady stream of income through rental payments
Appreciation: Potential for long-term property value growth
Tax benefits: Deductions for mortgage interest, property taxes, and depreciation
Cash flow: The difference between rental income and expenses can provide positive cash flow.
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An income property is a real estate asset purchased for generating rental income or profit through leasing .
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