CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2011	Dec. 31, 2010
Real estate land holdings, at cost	$ 4,783,673	$ 3,832,399
Notes receivable and accrued interest - affiliates	2,921,773	2,688,459
Cash and cash equivalents	24	151
Federal income tax receivable	0	636
Deferred tax asset	1,696	1,696
Total Assets	7,813,802	6,523,341
Notes payable and accrued interest - affiliates	6,338,143	5,535,275
Notes payable-bank	500,000	0
Accounts payable - other	60,182	52,566
Accounts payable - affiliates	179,012	54,560
Total Liabilities	7,077,337	5,642,401
Common stock, $0.01 par value; 40,000,000 shares authorized; 1,057,628 issued and outstanding	10,576	10,576
Preferred stock, $0.01 par value; 4,960,000 shares authorized; none issued or outstanding	0	0
Paid-In Capital	1,376,682	1,376,682
Retained earnings (deficit)	(650,793)	(506,318)
Total Shareholders' Equity	736,465	880,940
Total Liabilities and Shareholders Equity	$ 7,813,802	$ 6,523,341