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RENTAL PROPERTIES (Details) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Rental properties    
Total fixed assets $ 159,876,368 $ 159,123,799
Less: Accumulated depreciation (64,440,518) (60,199,265)
Total fixed assets, net 95,435,850 98,924,534
Land, improvements and parking lots
   
Rental properties    
Total fixed assets 27,849,721 27,614,537
Land, improvements and parking lots | Minimum
   
Rental properties    
Useful Life 15 years  
Land, improvements and parking lots | Maximum
   
Rental properties    
Useful Life 40 years  
Buildings and improvements
   
Rental properties    
Total fixed assets 119,579,923 119,097,186
Buildings and improvements | Minimum
   
Rental properties    
Useful Life 15 years  
Buildings and improvements | Maximum
   
Rental properties    
Useful Life 40 years  
Kitchen cabinets
   
Rental properties    
Total fixed assets 3,620,196 3,542,249
Kitchen cabinets | Minimum
   
Rental properties    
Useful Life 5 years  
Kitchen cabinets | Maximum
   
Rental properties    
Useful Life 10 years  
Carpets
   
Rental properties    
Total fixed assets 3,354,593 3,307,499
Carpets | Minimum
   
Rental properties    
Useful Life 5 years  
Carpets | Maximum
   
Rental properties    
Useful Life 10 years  
Air conditioning
   
Rental properties    
Total fixed assets 764,671 788,146
Air conditioning | Minimum
   
Rental properties    
Useful Life 7 years  
Air conditioning | Maximum
   
Rental properties    
Useful Life 10 years  
Laundry equipment
   
Rental properties    
Total fixed assets 378,806 368,955
Laundry equipment | Minimum
   
Rental properties    
Useful Life 5 years  
Laundry equipment | Maximum
   
Rental properties    
Useful Life 7 years  
Elevators
   
Rental properties    
Total fixed assets 1,139,296 1,139,296
Useful Life 20 years  
Swimming pools
   
Rental properties    
Total fixed assets 235,242 235,242
Useful Life 10 years  
Equipment
   
Rental properties    
Total fixed assets 1,586,591 1,744,006
Equipment | Minimum
   
Rental properties    
Useful Life 5 years  
Equipment | Maximum
   
Rental properties    
Useful Life 7 years  
Motor vehicles
   
Rental properties    
Total fixed assets 101,657 107,788
Useful Life 5 years  
Fences
   
Rental properties    
Total fixed assets 22,445 22,974
Fences | Minimum
   
Rental properties    
Useful Life 5 years  
Fences | Maximum
   
Rental properties    
Useful Life 10 years  
Furniture and fixtures
   
Rental properties    
Total fixed assets 1,038,136 1,039,439
Furniture and fixtures | Minimum
   
Rental properties    
Useful Life 5 years  
Furniture and fixtures | Maximum
   
Rental properties    
Useful Life 7 years  
Smoke alarms
   
Rental properties    
Total fixed assets $ 205,091 $ 116,482
Smoke alarms | Minimum
   
Rental properties    
Useful Life 5 years  
Smoke alarms | Maximum
   
Rental properties    
Useful Life 7 years  
Residential and mixed-use properties
   
RENTAL PROPERTIES    
Number of units 2,251  
Number of properties 20  
Residential and mixed-use properties | Partially owned properties
   
RENTAL PROPERTIES    
Number of units 799  
Number of properties 9  
Residential and mixed-use properties | Partially owned properties | Minimum
   
RENTAL PROPERTIES    
Percentage of ownership interest 40.00%  
Residential and mixed-use properties | Partially owned properties | Maximum
   
RENTAL PROPERTIES    
Percentage of ownership interest 50.00%  
Condominium
   
RENTAL PROPERTIES    
Number of units 19