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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($)
Mar. 31, 2017
Mar. 31, 2016
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Less: unamortized deferred financing costs $ (1,378,000)  
Weighted average interest rate (as a percent) 4.98%  
Effective interest rate (as a percent) 5.06%  
Investment Properties    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 $ 1,793,065  
3/31/2019 1,892,247  
3/31/2020 80,010,209  
3/31/2021 207,527  
3/31/2022 215,702  
Thereafter 41,780,901  
Total 125,899,651  
Less: unamortized deferred financing costs (579,492)  
Debt maturities net of unamortized deferred financing costs 125,320,159 $ 135,277,998
Hamilton Essex 81    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 10,000,000  
Total 10,000,000  
Less: unamortized deferred financing costs (117,207)  
Debt maturities net of unamortized deferred financing costs 9,882,793  
345 Franklin    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 184,814  
3/31/2019 192,094  
3/31/2020 199,661  
3/31/2021 207,527  
3/31/2022 215,702  
Thereafter 8,880,901  
Total 9,880,699  
Less: unamortized deferred financing costs (74,908)  
Debt maturities net of unamortized deferred financing costs 9,805,791  
Hamilton 1025    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 0  
Hamilton Bay Apts    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 0  
Hamilton Minuteman    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 6,000,000  
Total 6,000,000  
Less: unamortized deferred financing costs (118,320)  
Debt maturities net of unamortized deferred financing costs 5,881,680  
Hamilton on Main Apts    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 16,900,000  
Total 16,900,000  
Less: unamortized deferred financing costs (119,047)  
Debt maturities net of unamortized deferred financing costs 16,780,953  
Dexter Park    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 1,608,251  
3/31/2019 1,700,153  
3/31/2020 79,810,548  
Total 83,118,952  
Less: unamortized deferred financing costs (150,010)  
Debt maturities net of unamortized deferred financing costs $ 82,968,942