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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton on Main) (Details)
1 Months Ended 12 Months Ended
Jun. 11, 2014
USD ($)
Aug. 31, 2014
USD ($)
Dec. 31, 2016
USD ($)
item
Dec. 31, 2015
USD ($)
item
Dec. 31, 2014
USD ($)
item
Dec. 31, 2005
USD ($)
item
May 31, 2008
item
Aug. 31, 2004
USD ($)
item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Investments in joint venture     $ 8,336,505 $ 7,819,162 $ 8,807,868      
Number of units | item         1,033      
Number of units sold | item         240      
Outstanding amount of mortgage     212,709,080 194,500,820        
Distribution to the Partnership     $ 6,729,679 $ 3,785,883 $ 3,858,386      
Hamilton on Main Apts                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Investments in joint venture         $ 1,250,676     $ 8,000,000
Ownership interest (as a percent)       50.00% 50.00%     50.00%
Number of units | item     148 148 148     280
Outstanding amount of mortgage     $ 16,900,000          
Hamilton on Main Apts                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units sold | item             137  
Distribution to the Partnership   $ 850,000            
Hamilton on Main Apts | Mortgage, 5.18%, 2005                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Term of debt           10 years    
Number of buildings | item           3    
Mortgage amount           $ 16,825,000    
Interest rate (as a percent)           5.18%    
Period for which the entity is required to make interest only payments           3 years    
Amortization period of debt           30 years    
Term excluding period for which interest only payments to be made           7 years    
Net proceeds after funding escrow accounts and closing costs           $ 16,700,000    
Repayment of loan   $ 15,205,000            
Hamilton on Main Apts | Mortgage, 4.34%, August 2014                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Term of debt   10 years            
Mortgage amount   $ 16,900,000            
Interest rate (as a percent)   4.34%            
Residential buildings                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units | item         1,030      
Residential buildings | Hamilton on Main Apts                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units | item     148 148 148      
Mortgages payable                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Outstanding amount of mortgage     $ 212,709,000          
Mortgages payable | NERA Dean Street Associates, LLC                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Mortgage amount $ 5,687,000              
Interest rate (as a percent) 4.22%              
Period for which the entity is required to make interest only payments 10 years