Thanks to all who responded, especially Gunnar (From Denmark) & hmcho (from Korea) who cleared up the massprop calc for solid and the use of the region command, respectively.
Here is what I found is the way to go to find the Moment of Inertia of any shape.
Step 1: Draw a closed polyline of the shape you wish to find.
Step 2: Type REGION then select the polyline
Step 3: Type MASSPROP, select the polyline and write down the centroid location
Step 4: Type MOVE and select the polyline and move it so it's centroid is located at coordinates 0,0
Step 5: Type MASSPROP - verify the centriod is at 0,0 and then the section properties should be ACCURATE !
THANKS TO ALL THAT HELPED AND RESPONDED !
Gerard Madden, P.E.
Middlebrook + Louie, Structural Engineers
71 Stevenson Street, Suite 2100
San Francisco, CA 94105