Astute investors will realize this and will likely interpret this comparison as an attempt to either beguile them or that you're green and don't really understand the risks that your investment carries. 

Is my interpretation accurate?  

The Crime Rating from Trulia is Low (tried to use the Minneapolis.gov site but there's so much information and I'm not sure how to best interpret it.) ---- is there another reason why this area isn't seen as a good area to invest?

I am in need of some basic deed terminology interpretation.

@David Smith  We have had different DJs interpret  LLCs differently. 

@Andrew S Austell, Your situation is a little fuzzy and needs some accountant interpretation from your tax returns.When you bought that original property your accountant assigned a basis to everything - house and land. 

Is my interpretation correct, and what are the best ways to approach this?

You'd have to double check with a professional if your interpretation is acceptable, but I wouldn't think so.Don't forget, you still have to own the land underneath.

I'd like to get some of my learnings validated here and also have some questions answered as to how I should interpret some other types (like IRR).

In my experience laws are made up of words, if you understands the meaning of words and how courts have interpreted those words you can understand the law.