Note 8 - Investment in Real Estate

12 Months Ended

Dec. 31, 2016

Banking and Thrift [Abstract]

Note 8 - Investment in Real Estate

	December 31, 2016	December 31, 2015
Cost of real estate properties	$      11,603,385	$      9,220,379
Accumulated depreciation	(354,639)	(223,450)
Impairment of real estate properties	(121,500)	–
Balance at the end of the period	$      11,127,246	$      8,996,929

On March 18, 2016, the Company sold one property to a related party for $211,201 and recognized a gain on sale of $4,982.

On April 11, 2016, the Company purchased two properties and two parcels of land for the purchase price of $1,650,000. Consideration given for the purchase consisted of 722,883 shares of common stock issued worth $1,085,725, assumption of debt of $563,755 and cash paid of $520. Of the $1,650,000 purchase price for the real estate. $1,039,420 was allocated to land and $610,580 was allocated to buildings and improvements.

On August 10, 2016, the Company acquired six single family residences, four apartments and sixteen mobile homes spaces located in New Mexico for the purchase price of $1,333,000. Consideration given for the purchase consisted of 500,614 common units of AHIT NNMP valued at approximately $1,130,000, and assumption of debt of approximately $203,000. Of the $1,333,000 purchase price for the real estate, $330,463 was allocated to land and $1,002,567 was allocated to buildings.

On December 23, 2016, the Company sold one property and one parcel of land for $218,500 and recognized a loss on sale of $29,320.

On December 29, 2016, the Company sold one parcel of land for $90,000 and recognized a loss on sale of $53,080.

During the year ended December 31, 2016, the Company recorded depreciation expense of $156,453 (2015 - $105,863) and impairment of $121,500 (2015 - $nil).