Final answer:
In a real estate brokerage limited partnership, anyone can be a limited partner, and their liability is restricted to their investment, protecting personal assets.
Step-by-step explanation:
Anyone licensed or not can be a limited partner in a real estate brokerage limited partnership. In such a partnership, the limited partner's liability is only as much as their investment in the company. This means that in the case that the company encounters financial difficulties, a limited partner would not be at risk of losing their personal assets, such as their home, car, or personal bank accounts. The structure of a limited partnership is ideal for investors who prefer not to be involved in the day-to-day management of the company but still want to contribute capital and benefit from potential profits.