Related Party Transactions

3 Months Ended

Mar. 31, 2014

Innisbrook Rental Pool Lease Operation [Abstract]

Related Party Transactions Disclosure [Text Block]

Note 6. Related Party Transactions

We paid management fees to an affiliate of $380,675 and $419,255 for the three months ended March 31, 2014 and 2013, respectively. These fees are included in general and administrative expenses in the Condensed Statements of Operations.

At March 31, 2014 and December 31, 2013, amounts due to/(from) affiliates were $(2,715) and $269,129, respectively, which balances are non-interest bearing, unsecured and due on demand.

The Innisbrook Rental Pool Lease Operation paid us $84,673 and $83,183 for the three months ended March 31, 2014 and 2013, respectively as reimbursement for maintenance and housekeeping labor, use of the telephone lines and other supplies. These reimbursements are included in general and administrative expenses in the Condensed Statements of Operations.