Most every state has a major university that has a R/E department and I like these because it's unbias and there is no profit motive, or hyperbole.In one of the discussion articles one of economics professors here is a bit contrarian and thinks this "shadow inventory" of homes banks alledge they are holding isn't that real...or as big as the hype professes to be.I also read you can buy expired tract maps on the cheap there.

Can you give us a brief re-cap, the Reader's Digest version?

Ernst & Young, 494 U.S. 56 (1990)Here is the Reader's Digest version:This test came from another decision that gave a list of notes that are not securities:1.

If it's overwhelming, you're probably trying to digest too much, too quickly.I would start by reading this:http://www.biggerpockets.com/real-estate-investingThat should give you a good overview of the various aspects of real estate investing, along with some basic details that can help you determine where you'd like to be focusing your investing.Once you have an area that you're interested in, start digging into the forums.

Though his written English is very good.I'm one of those, not so rare, Canadian anomalies who learned to speak both English and French growing up, but my formal education was in English, so my writing skill is very weak in French.Now, if I could only digest a portion of the information you share here regularly, I'd be beyond my private funding hurdle.BTW: Who's Ron ;-)

A lot to digest.

First off, my current situation is as follows:I am 34yrs old and own a 9yr old tract built home here in Indianapolis 3BR + Game Room 2.5BA 2-Story, that appraises for $130K with a monthly payment of $965 including P&I, MI, Homeowners, HOA Fees with just under 21yrs left on the FHA mortgage at 5.75% - approximately $107k left on the loan.

There is a grander scale development proposed which involves assembling large tracts of land in major markets to develop master planned communities.

David, I'll digest everything you've written.

Bill Gulley Wow that is a lot to digest.