DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE

12 Months Ended

Dec. 31, 2015

DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE

DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE

NOTE 16. DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE

The following tables summarize income from discontinued operations and the related realized gain on sale of rental property for the years ended December 31, 2015, 2014 and 2013:

	Year Ended December 31,
	2015		2014		2013
Total Revenues	$	—	$	—	$	193,480
Operating and other expenses		—		—		172,322
Depreciation and amortization		—		—		2,111
		—		—		174,433
Income from discontinued operations	$	—	$	—	$	19,047

Gain on the Sale of Nashoba in the second quarter of 2013:
Sale price	$	4,300,000
Net book value		(476,766)
Expense of sale		(144,395)
Gain on the sale of real estate	$	3,678,839