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RENTAL PROPERTIES (Details) (USD $)
9 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Rental properties    
Total fixed assets $ 223,103,303 $ 158,624,893
Less: Accumulated depreciation (68,838,718) (63,651,293)
Total fixed assets, net 154,264,585 94,973,600
Land, improvements and parking lots
   
Rental properties    
Total fixed assets 43,853,519 27,743,726
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 152,671,201 118,739,283
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 6,261,506 3,544,868
Kitchen cabinets | Minimum
   
Rental properties    
Useful Life 5 years  
Kitchen cabinets | Maximum
   
Rental properties    
Useful Life 10 years  
Carpets
   
Rental properties    
Total fixed assets 6,225,566 3,218,975
Carpets | Minimum
   
Rental properties    
Useful Life 5 years  
Carpets | Maximum
   
Rental properties    
Useful Life 10 years  
Air conditioning
   
Rental properties    
Total fixed assets 779,446 746,043
Air conditioning | Minimum
   
Rental properties    
Useful Life 5 years  
Air conditioning | Maximum
   
Rental properties    
Useful Life 10 years  
Laundry equipment
   
Rental properties    
Total fixed assets 435,218 378,806
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
Elevators | Minimum
   
Rental properties    
Useful Life 20 years  
Elevators | Maximum
   
Rental properties    
Useful Life 40 years  
Swimming pools
   
Rental properties    
Total fixed assets 444,629 235,242
Swimming pools | Minimum
   
Rental properties    
Useful Life 10 years  
Swimming pools | Maximum
   
Rental properties    
Useful Life 30 years  
Equipment
   
Rental properties    
Total fixed assets 5,234,614 1,529,904
Equipment | Minimum
   
Rental properties    
Useful Life 5 years  
Equipment | Maximum
   
Rental properties    
Useful Life 7 years  
Motor vehicles
   
Rental properties    
Total fixed assets 101,657 101,657
Useful Life 5 years  
Fences
   
Rental properties    
Total fixed assets 32,695 22,445
Fences | Minimum
   
Rental properties    
Useful Life 5 years  
Fences | Maximum
   
Rental properties    
Useful Life 15 years  
Furniture and fixtures
   
Rental properties    
Total fixed assets 5,703,942 1,031,348
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 $ 220,014 $ 193,298
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 2,412  
Number of properties 19  
Residential and mixed-use properties | Partially owned properties
   
RENTAL PROPERTIES    
Number of units 798  
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