Without that piece of information, it is impossible to measure how far they fell, thus impossible to measure how far they have rebounded.Take Midland/Odessa for instance, which by-the-way should always be counted as a single city, not 2.  

because deep down inside i want a piece of the pie...lol... plus it just doesnt sound right in my head.

So I am fmiliar with the process.I have a little leftover money in that IRA, and am eyeing a piece of rural land to eventually use as a weekend recreational getaway.

(Sadly, it's part of a large portfolio that I can't afford, so I'm trying to partner with some guys to still own a piece of the pie.)I really appreciate the objective views. 

Seller how many pieces of mail have you received?

In general, partnership elections are preferred for passive investments, and each investor is allocated a portion of the LLC's income/(loss) relative to their ownership %.S-Corp elections can be helpful when you have a lot of earned income, so you can pay out some of the profit as distributions, avoiding the ~15.3% self-employment tax that would be due if those amounts would be paid in salary.Lastly, C-Corp elections provide some incremental opportunities for business deductions, and are apparently the least-most audited structure.I have a series LLC w/ an S Corp for my rehab company, a C Corp for my marketing company, and I'll add a new series for each rental property I may acquire outside of my retirement accounts.

Real EstateBecause each piece of real estate is unique and its valuation is complicated, a detailed appraisal by a professional appraiser is necessary.The appraiser must be thoroughly trained in the application of appraisal principles and theory.

Sounds like you've set yourself a fast pace for learning, but don't be shy about slowing down to really piece through things now and then.

I have not purchased or sold a single piece of property with it.  

I have the receipts at home, but my question is, shouldn't a CPA take your word for it first, then I should produce the receipts to corroborate it if I'm audited?