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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton 1025) (Details)
Mar. 02, 2005
USD ($)
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Mar. 02, 2005
USD ($)
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Feb. 01, 2016
item
Dec. 31, 2015
USD ($)
item
Feb. 01, 2015
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Dec. 31, 2014
USD ($)
item
Feb. 01, 2014
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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    
Hamilton 1025                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Investments in joint venture | $ $ 2,352,000 $ 2,352,000           $ 267,511
Ownership interest (as a percent) 50.00% 50.00%       50.00%   50.00%
Number of units | item 176 176   176   176   176
Number of units sold | item     127   127   127  
Number of units retained for long-term investment | item       48   49   49
Hamilton 1025                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Purchase price of real estate properties | $   $ 23,750,000            
Number of units sold | item 127 127            
Number of units retained for long-term investment | item 49 49            
Hamilton 1025 | Mortgage, 5.67%, March 2005                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Term of debt 10 years              
Mortgage amount | $ $ 5,000,000 $ 5,000,000            
Interest rate (as a percent) 5.67% 5.67%            
Period for which the entity is required to make interest only payments 5 years              
Amortization period of debt 30 years              
Outstanding amount of mortgage | $       $ 4,733,000        
Residential buildings | Hamilton 1025                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units | item       175   175   175