FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2018

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of carrying value and estimated fair value of financial instruments

	March 31, 2018				December 31, 2017
	Carrying		Estimated		Carrying		Estimated
	Value		Fair Value		Value		Fair Value
Cash and Cash Equivalents - Level 1	$	3,724,714	$	3,724,714	$	6,559,409	$	6,559,409
Restricted Cash - Level 1		3,148,997		3,148,997		6,508,131		6,508,131
Commercial Loan Investments - Level 2		11,940,459		12,004,452		11,925,699		12,015,628
Long-Term Debt - Level 2		199,259,588		202,499,885		195,816,364		200,000,776

Schedule of fair value of assets measured on recurring basis by Level

The following table presents the fair value of assets measured on a recurring basis by Level as of March 31, 2018:

			Fair Value at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets		Significant Other		Unobservable
			for Identical		Observable Inputs		Inputs
	3/31/2018		Assets (Level 1)		(Level 2)		(Level 3)
Cash Flow Hedge - Interest Rate Swap	$	844,796	$	—	$	844,796	$	—
Total	$	844,796	$	—	$	844,796	$	—

The following table presents the fair value of assets measured on a recurring basis by Level as of December 31, 2017:

			Fair Value at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets		Significant Other		Unobservable
			for Identical		Observable Inputs		Inputs
	12/31/2017		Assets (Level 1)		(Level 2)		(Level 3)
Cash Flow Hedge - Interest Rate Swap	$	606,621	$	—	$	606,621	$	—
Total	$	606,621	$	—	$	606,621	$	—