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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($)
Jun. 30, 2017
Jun. 30, 2016
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Less: unamortized deferred financing costs $ (1,331,000)  
Weighted average interest rate (as a percent) 5.00%  
Effective interest rate (as a percent) 5.08%  
Investment Properties    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 $ 1,817,357  
3/31/2019 1,917,897  
3/31/2020 79,603,870  
3/31/2021 209,541  
3/31/2022 217,796  
Thereafter 41,725,660  
Total 125,492,121  
Less: unamortized deferred financing costs (553,743)  
Debt maturities net of unamortized deferred financing costs 124,938,378 $ 134,906,750
Hamilton Essex 81    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 10,000,000  
Total 10,000,000  
Less: unamortized deferred financing costs (113,760)  
Debt maturities net of unamortized deferred financing costs 9,886,240  
345 Franklin    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 186,608  
3/31/2019 193,959  
3/31/2020 201,599  
3/31/2021 209,541  
3/31/2022 217,796  
Thereafter 8,825,660  
Total 9,835,163  
Less: unamortized deferred financing costs (73,244)  
Debt maturities net of unamortized deferred financing costs 9,761,919  
Hamilton Minuteman    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 6,000,000  
Total 6,000,000  
Less: unamortized deferred financing costs (116,274)  
Debt maturities net of unamortized deferred financing costs 5,883,726  
Hamilton on Main Apts    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 16,900,000  
Total 16,900,000  
Less: unamortized deferred financing costs (115,034)  
Debt maturities net of unamortized deferred financing costs 16,784,966  
Dexter Park    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 1,630,749  
3/31/2019 1,723,938  
3/31/2020 79,402,271  
Total 82,756,958  
Less: unamortized deferred financing costs (135,431)  
Debt maturities net of unamortized deferred financing costs $ 82,621,527