Which of the following is NOT one of the primary benefits of investing in real estate income property?
a. Property Sale—Expecting a price increase over a specified holding period increases investor return
b. Diversification—Reducing overall risk to hold many types of investments
c. Taxes—Preferential tax benefits mean taxable income is often less than before-tax cash flow
d. Business cycles—Real estate income properties tend to generate higher incomes when other investments are in decline