RENTAL PROPERTIES (Tables)

9 Months Ended

Sep. 30, 2016

RENTAL PROPERTIES

Schedule of rental properties

	September 30, 2016		December 31, 2015		Useful Life
Land, improvements and parking lots	$	52,610,465	$	52,852,877	15	-	40	years
Buildings and improvements		173,161,839		172,277,299	15	-	40	years
Kitchen cabinets		8,919,826		8,493,696	5	-	10	years
Carpets		8,039,112		7,361,966	5	-	10	years
Air conditioning		718,531		718,531	5	-	10	years
Laundry equipment		244,771		244,771	5	-	7	years
Elevators		1,139,296		1,139,296	20	-	40	years
Swimming pools		444,629		444,629	10	-	30	years
Equipment		10,125,881		9,502,977	5	-	7	years
Motor vehicles		169,076		130,563			5	years
Fences		42,565		38,115	5	-	15	years
Furniture and fixtures		8,339,939		7,855,351	5	-	7	years
Smoke alarms		216,827		216,827	5	-	7	years
Total fixed assets		264,172,757		261,276,898
Less: Accumulated depreciation		(93,320,604)		(84,579,584)
	$	170,852,153	$	176,697,314