RENTAL PROPERTIES (Tables)

3 Months Ended

Mar. 31, 2017

RENTAL PROPERTIES

Schedule of rental properties

	March 31, 2017		December 31, 2016		Useful Life
Land, improvements and parking lots	$	52,775,844	$	52,612,929	15	-	40	years
Buildings and improvements		173,898,949		173,536,288	15	-	40	years
Kitchen cabinets		8,815,433		8,738,323	5	-	10	years
Carpets		7,731,372		7,621,292	5	-	10	years
Air conditioning		690,535		690,535	5	-	10	years
Laundry equipment		274,389		269,784	5	-	7	years
Elevators		1,139,296		1,139,296	20	-	40	years
Swimming pools		444,629		444,629	10	-	30	years
Equipment		10,322,912		10,029,639	5	-	30	years
Motor vehicles		237,954		237,954			5	years
Fences		37,465		37,465	5	-	15	years
Furniture and fixtures		8,257,999		8,127,100	5	-	7	years
Smoke alarms		174,059		174,059	5	-	7	years
Total fixed assets		264,800,836		263,659,293
Less: Accumulated depreciation		(97,143,764)		(94,196,482)
	$	167,657,072	$	169,462,811