[Excerpt] The Cornell University Graduate Program in Real Estate in conjunction with the Cornell Real Estate Council is pleased to present Volume 4 of the Cornell Real Estate Journal (CREJ). Founded in 2002 as a forum for advancing practical issues confronting the real estate industry, the Journal provides a conduit for faculty, real estate industry practitioners, and graduate students to share ideas, concepts and research fi ndings from all fi elds related to the profession. The CREJ remains an entirely student edited and managed periodical, and Executive Editors Michael Lark and Steven Trudel (both MPS/RE ‘06 candidates) have done a masterful job of selecting timely, practiceoriented articles. From David Rupert’s insights into the evolving use of Tenant-in- Common structures in like-kind exchange markets to Anthony Ababon’s linkage of property and loan fl ipping to costs of property ownership, Editors Lark and Trudel have compiled an exciting array of industry perspectives.