REIT: Real Estate Investment Trust, a registered trust traded on public exchanges in which 90% of income is distributed to share holders. Taxes are not assessed at the trust level, only at the shareholder level.  Tax advantages such as depreciation and interest expense are not passed through to share holders.  

Public Non Traded REIT: REIT which is a registered security but which is not traded on public exchanges. Value is established as net asset value (NAV). Typically not liquid but limited redemptions usually available.  Unlike a traded REIT  depreciation and interest expense deductions flow through to shareholders

Oil & Gas Interests: Oil and Gas investments can be structured through leasehold interests, royalty percentages and ownership interests in various LLC which own such interests.  Energy investments require close analysis of the structure and of the assets involved

Delaware Statutory Trust: Trust holding real estate assets which preserves the real estate status as defined in 1031 tax deferred exchanges.  Allows for strong management control but generally does not allow changes during the term of the trust existence. 

Tenant in Common:  Real estate ownership structure popular for 1031 tax deferred exchanges.  Property structure allows multiple owner each of whom own a designated percentage ownership equal to each investors actual investment.  Cash flow, depreciation , debt service and expenses all flow through to each investment on a pro rata basis.  Major decisions require 100% consent which can prove unwieldy.

Opportunity Real Estate Funds: LLC or limited partnership structure designed to raise capital from investors for the purpose of advantageous property purchases.  Usually involves significant risk in return for the possibility of above market returns.  Typically searches for properties available well below value due to either do distressed property  condition or distressed ownership.

Limited Partnership: Ownership structure in which investors own limited interests (LP) in return for their liability being limited to their investment.  Management and control is held by the General Partner (GP) who typically arrange financing, assume all or partial liability and receive incentive compensation for successful operation of the partnership.

High Yield Debt: Debt that pays an interest rate significantly higher than equivalent US government treasuries.  Higher rate is usually in return for proportionally increased risk.  Term is also used for distressed debt that is purchased at significantly below face value. ( par)