limited partnership whose use of borrowed funds to finance the acquisition of properties is 50% or less of the purchase price. In contrast, a leveraged program borrows 50% or more. Investors seeking to maximize income tend to favor unleveraged partnerships, where interest expense and other deductions from income are at a minimum. Investors looking for tax shelters might favor leveraged programs despite the higher risk because of the greater amount of property acquired with the borrowed money and the greater amount of tax deductible interest but the longer depreciation periods required by tax legislation have substantially reduced the tax benefits from real estate.