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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($)
Sep. 30, 2017
Sep. 30, 2016
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Less: unamortized deferred financing costs $ (1,461,000)  
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 $ 1,841,982  
3/31/2019 1,943,896  
3/31/2020 79,191,645  
3/31/2021 211,575  
3/31/2022 219,910  
Thereafter 41,669,884  
Total 125,078,892  
Less: unamortized deferred financing costs (527,993)  
Debt maturities net of unamortized deferred financing costs 124,550,899 $ 130,551,992
Hamilton Essex 81    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 10,000,000  
Total 10,000,000  
Less: unamortized deferred financing costs (110,313)  
Debt maturities net of unamortized deferred financing costs 9,889,687  
345 Franklin    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 188,419  
3/31/2019 195,841  
3/31/2020 203,556  
3/31/2021 211,575  
3/31/2022 219,910  
Thereafter 8,769,884  
Total 9,789,185  
Less: unamortized deferred financing costs (71,579)  
Debt maturities net of unamortized deferred financing costs 9,717,606  
Hamilton Minuteman    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 6,000,000  
Total 6,000,000  
Less: unamortized deferred financing costs (114,228)  
Debt maturities net of unamortized deferred financing costs 5,885,772  
Hamilton on Main Apts    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
Thereafter 16,900,000  
Total 16,900,000  
Less: unamortized deferred financing costs (111,021)  
Debt maturities net of unamortized deferred financing costs 16,788,979  
Dexter Park    
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES    
3/31/2018 1,653,563  
3/31/2019 1,748,055  
3/31/2020 78,988,089  
Total 82,389,707  
Less: unamortized deferred financing costs (120,852)  
Debt maturities net of unamortized deferred financing costs $ 82,268,855