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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($)
Sep. 30, 2016
Sep. 30, 2015
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Weighted average interest rate (as a percent) 4.98%  
Effective interest rate (as a percent) 5.06%  
Hamilton Essex 81    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter $ 10,000,000  
Total 10,000,000  
Less: unamortized deferred financing costs (124,102)  
Debt maturities net of unamortized deferred financing costs 9,875,898  
345 Franklin    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
9/30/2017 181,277  
9/30/2018 188,419  
9/30/2019 195,841  
9/30/2020 203,556  
9/30/2021 211,575  
Thereafter 8,989,794  
Total 9,970,462  
Less: unamortized deferred financing costs (78,237)  
Debt maturities net of unamortized deferred financing costs 9,892,225  
Hamilton Bay Apts    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
9/30/2017 4,449,655  
Total 4,449,655  
Less: unamortized deferred financing costs (2,386)  
Debt maturities net of unamortized deferred financing costs 4,447,269  
Hamilton Minuteman    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 6,000,000  
Total 6,000,000  
Less: unamortized deferred financing costs (122,662)  
Debt maturities net of unamortized deferred financing costs 5,877,338  
Hamilton on Main Apts    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 16,900,000  
Total 16,900,000  
Less: unamortized deferred financing costs (127,073)  
Debt maturities net of unamortized deferred financing costs 16,772,927  
Dexter Park    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
9/30/2017 1,564,180  
9/30/2018 1,653,563  
9/30/2019 1,748,055  
9/30/2020 78,899,705  
Total 83,865,503  
Less: unamortized deferred financing costs (179,168)  
Debt maturities net of unamortized deferred financing costs 83,686,335  
Investment Properties    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
9/30/2017 6,195,112  
9/30/2018 1,841,982  
9/30/2019 1,943,896  
9/30/2020 79,103,261  
9/30/2021 211,575  
Thereafter 41,889,794  
Total 131,185,620  
Less: unamortized deferred financing costs (633,628)  
Debt maturities net of unamortized deferred financing costs $ 130,551,992 $ 136,031,781