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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Bay Apts and Sales) (Details)
1 Months Ended
Feb. 28, 2007
item
Sep. 30, 2016
USD ($)
item
Dec. 31, 2015
USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Investments in joint venture | $   $ 8,970,289 $ 7,819,162
Outstanding amount of mortgage | $   $ 213,089,003 $ 194,500,820
Hamilton Bay Apts      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Number of units refinanced | item 48    
Condominium      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Number of units | item   19  
Mortgages payable | Minimum      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Interest rate (as a percent)   2.51%  
Mortgages payable | Maximum      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Interest rate (as a percent)   5.97%