What qualifies as "investment property"?

Investment property is defined as real estate that is acquired specifically to generate income or profit, either through rental income, resale, or both. This type of property typically includes residential, commercial, or industrial real estate that an investor holds with the expectation of generating financial returns.

Option C describes this concept accurately by stating that the property is purchased to generate rental income or profits from resale. This distinction is important because investment properties are not primarily for personal enjoyment or family use but are treated as income-producing assets. Many investors strategically select properties based on their potential to provide a return on investment through various income channels, making option C the most appropriate definition of investment property.

The other choices fail to meet the criteria for investment property: personal use and enjoyment or family use imply that the properties are intended for the occupants' living experience rather than for generating profit. Additionally, residential properties held for resale without rental income do not align with investment properties as they lack the income-generating component, which is crucial for qualifying a property as an investment.