The LMIT is for financing (and refinancing) houses in "Low to Medium Income Tract". 

Hey @Anthony HenriquezIt just so happens that the Hillcrest Neighborhood in Patterson is delimitated exactly as Census Tract 1801 in Passaic County, New Jersey, meaning it is rather easy to data for exactly this area. 

Doing that and watching expenses keeps you on tract for the year.

The taxes due appear to be $2,137.08, if paid this month.If you mean the legal description confuses you, this is just the legal description of this tract.

The tract builders definitely ground to a halt.

Their market exposure is fairly light, they own large tracts of vacant land, they bought for cheap and will be able to benefit from construction and home tech when they return in full blast to market.

As the real estate market boomed the last couple of years, the locations for some housing developments started to become really whacky; out in the middle of nowhere, down one lane roads, and with the barest of infrastructures, housing tracts sprung up like mushrooms after a rain storm.

I have been reading a little here and it sounds like a lot of people begin investing in real estate with duplexes - quadplexes, which makes sense and seems like a good way for me to begin too.But, I also am interested in the opposite extreme, buying large tracts of timber land. 

Although you are paying for the excess land, it is typically not priced as multiple tracts.

Large tracts take at least a year to get through the permitting process and then the infrastructure must be built.