ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2019 and December 31, 2018:

	As of June 30, 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	$	—	$	3,659,703	$	3,659,703	$	67,810,880	$	3,659,703	$	71,470,583
Cash and Cash Equivalents		—		238,752		238,752		—		156,489		156,489
Other Assets		—		566,100		566,100		—		646,285		646,285
Operating Leases - Right-of-Use Asset		—		138,848		138,848		—		—		—
Intangible Lease Assets—Net		—		—		—		4,366,858		—		4,366,858
Intangible Lease Liabilities—Net		—		—		—		(773,705)		—		(773,705)
Total Assets Held for Sale	$	—	$	4,603,403	$	4,603,403	$	71,404,033	$	4,462,477	$	75,866,510

The following is a summary of liabilities held for sale as of June 30, 2019 and December 31, 2018:

	As of June 30, 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	$	—	$	268,849	$	268,849	$	—	$	199,422	$	199,422
Accrued and Other Liabilities		—		910,042		910,042		—		924,323		924,323
Operating Leases - Liability		—		138,848		138,848		—		—		—
Deferred Revenue		—		215,416		215,416		—		223,551		223,551
Total Liabilities Held for Sale	$	—	$	1,533,155	$	1,533,155	$	—	$	1,347,296	$	1,347,296

Summary of discontinued operations

	Three Months Ended				Six Months Ended
	June 30, 2019		June 30, 2018		June 30, 2019		June 30, 2018
Golf Operations Revenue	$	1,453,859	$	1,282,918	$	2,950,552	$	2,637,274
Golf Operations Direct Cost of Revenues		(1,673,633)		(1,525,053)		(3,384,963)		(2,906,879)
Loss from Operations		(219,774)		(242,135)		(434,411)		(269,605)
Depreciation and Amortization		—		(99,393)		—		(202,949)
Loss from Discontinued Operations Before Income Tax		(219,774)		(341,528)		(434,411)		(472,554)
Income Tax Benefit		55,702		86,562		110,102		119,772
Loss from Discontinued Operations (Net of Income Tax)	$	(164,072)	$	(254,966)	$	(324,309)	$	(352,782)