XML 21 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Rental Properties
 6 Months Ended
Jun. 30, 2020
Rental Properties [Abstract]  
RENTAL PROPERTIES

NOTE 4 – RENTAL PROPERTIES

 

At June 30, 2020 and December 31, 2019, rental properties, net consisted of the following:

 

Description  Useful Life
(Years)		  June 30,
2020		   December 31,
2019		 
Building and building improvements  5-39  $6,260,524   $6,250,959 
Land  -   2,283,214    2,283,214 
Rental properties, at cost      8,543,738    8,534,173 
Less: accumulated depreciation      (1,337,704)   (1,159,366)
Rental properties, net     $7,206,034   $7,374,807 

 

For the three months ended June 30, 2020 and 2019, depreciation and amortization of rental properties amounted to $89,297 and $88,820, respectively. For the six months ended June 30, 2020 and 2019, depreciation and amortization of rental properties amounted to $178,338 and $177,640, respectively.