Income Opportunity Realty Investors, Inc. (IOT) is engaged in investing in real estate. As of December 31, 2011, the Company�s land consisted of 178.1 acres of land held for future development or sale. All of its land holdings are located in Texas. The Company�s business is investing in equity interests in real estate through direct equity investments and partnerships, and financing real estate and real estate-related activities through investments in mortgage loans. All of its real estate is located in the southwest region of the continental United States.