ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2019

ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS

Schedule of assets and liabilities held for sale and discontinued operations

The following is a summary of assets held for sale as of March 31, 2019 and December 31, 2018:

	As of March 31, 2019						As of December 31, 2018
	Multi-Tenant Income Properties		Golf Assets		Total Assets Held for Sale		Multi-Tenant Income Properties		Golf Assets		Total Assets Held for Sale
Property, Plant, and Equipment—Net	$	51,492,601	$	3,659,703	$	55,152,304	$	67,810,880	$	3,659,703	$	71,470,583
Cash and Cash Equivalents		—		199,290		199,290		—		156,489		156,489
Other Assets		—		648,137		648,137		—		646,285		646,285
Operating Leases - Right-of-Use Asset		—		173,561		173,561		—		—		—
Intangible Lease Assets—Net		3,346,288		—		3,346,288		4,366,858		—		4,366,858
Intangible Lease Liabilities—Net		(440,913)		—		(440,913)		(773,705)		—		(773,705)
Total Assets Held for Sale	$	54,397,976	$	4,680,691	$	59,078,667	$	71,404,033	$	4,462,477	$	75,866,510

The following is a summary of liabilities held for sale as of March 31, 2019 and December 31, 2018:

	As of March 31, 2019						As of December 31, 2018
	Multi-Tenant Income Properties		Golf Liabilities		Total Liabilities Held for Sale		Multi-Tenant Income Properties		Golf Liabilities		Total Liabilities Held for Sale
Accounts Payable	$	—	$	318,946	$	318,946	$	—	$	199,422	$	199,422
Accrued and Other Liabilities		—		916,759		916,759		—		924,323		924,323
Operating Leases - Liability		—		173,561		173,561		—		—		—
Deferred Revenue		—		232,719		232,719		—		223,551		223,551
Total Liabilities Held for Sale	$	—	$	1,641,985	$	1,641,985	$	—	$	1,347,296	$	1,347,296

Summary of discontinued operations

	Three Months Ended
	March 31, 2019		March 31, 2018
Golf Operations Revenue	$	1,496,693	$	1,354,356
Golf Operations Direct Cost of Revenues		(1,711,330)		(1,381,826)
Loss from Operations		(214,637)		(27,470)
Depreciation and Amortization		—		(103,556)
Loss from Discontinued Operations Before Income Tax		(214,637)		(131,026)
Income Tax Benefit		54,400		33,210
Loss from Discontinued Operations (Net of Income Tax)	$	(160,237)	$	(97,816)