Residential Properties

9 Months Ended

Sep. 30, 2014

Real Estate [Abstract]

Residential Properties

NOTE 4. RESIDENTIAL PROPERTIES

As of September 30, 2014, we owned 79 single-family residential properties which are all located in Southeastern Florida and are carried at a total cost of approximately $12.4 million. As we did not start this operation until March 2014, we did not own any single-family residential properties as of December 31, 2013. The income from these properties is included in our Statements of Income as “Income on rental properties.” The expenses on these properties are included in our Statements of Income in “Other expenses” and the details are included in Note 15.