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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Essex) (Details)
3 Months Ended
Sep. 30, 2015
USD ($)
Sep. 28, 2015
USD ($)
Mar. 07, 2005
USD ($)
item
Mar. 31, 2016
USD ($)
item
Mar. 31, 2015
USD ($)
item
Dec. 31, 2015
USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture       $ 7,440,487   $ 7,819,162
Distribution to the Partnership       $ 936,925 $ 951,330  
Hamilton Essex Development, LLC and Hamilton Essex 81, LLC            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture     $ 2,000,000      
Ownership interest (as a percent)     50.00%      
Purchase price of investments     $ 14,300,000      
Hamilton Essex 81            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture         $ 321,028  
Number of units | item     48 49 49  
Capital contributions   $ 100,000        
Distribution to the Partnership $ 978,193          
Hamilton Essex Development            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture       $ 1,333,547 $ 347,460  
Number of units | item       1 1  
Capacity of real estate property (in cars per lot) | item     50      
Capital contributions   978,193        
Residential buildings | Hamilton Essex 81            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item       48 48  
Commercial | Hamilton Essex 81            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item       1 1  
Commercial | Hamilton Essex Development            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | item       1 1  
Minimum | Limited Partnerships            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Ownership interest (as a percent)       40.00%    
Maximum | Limited Partnerships            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Ownership interest (as a percent)       50.00%    
Mortgages payable | Hamilton Essex Development, LLC and Hamilton Essex 81, LLC            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Borrowings     $ 10,750,000      
Mortgages payable | Hamilton Essex 81            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Mortgage amount       $ 9,869,000    
Term of debt 10 years          
Borrowings $ 10,000,000          
Mortgages payable | Hamilton Essex 81 | LIBOR            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Margin over basis of interest rate (as a percent) 2.18%          
Mortgages payable | Hamilton Essex Development            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Repayment of loan   $ 1,952,286        
Mortgages payable | Minimum            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Interest rate (as a percent)       2.45%    
Mortgages payable | Maximum            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Interest rate (as a percent)       5.97%