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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Dexter) (Details)
1 Months Ended
Oct. 28, 2009
USD ($)
item
Oct. 28, 2009
USD ($)
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Oct. 31, 2009
USD ($)
Dec. 31, 2015
USD ($)
item
Dec. 31, 2014
USD ($)
item
Dec. 31, 2013
USD ($)
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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture       $ 7,819,162 $ 8,807,868 $ 12,025,144
Outstanding amount of mortgage       $ 195,939,469 $ 196,071,540  
Dexter Park            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture $ 15,925,000 $ 15,925,000       $ 5,998,015
Ownership interest (as a percent) 40.00% 40.00%     40.00% 40.00%
Number of units | item       409 409 409
Dexter Park            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Purchase price of real estate properties   $ 129,500,000        
Dexter Park | Mortgage, 5.57%, Due 2019            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Mortgage amount     $ 89,914,000      
Interest rate (as a percent) 5.57% 5.57%        
Period for which the entity is required to make interest only payments     2 years      
Amortization period of debt 30 years          
Outstanding amount of mortgage       $ 84,903,000    
Residential buildings | Dexter Park            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item       409 409 409
Residential buildings | Dexter Park            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item 409 409