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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Dexter) (Details)
1 Months Ended
Oct. 28, 2009
USD ($)
item
Oct. 31, 2009
Feb. 28, 2007
USD ($)
Dec. 31, 2017
USD ($)
item
Dec. 31, 2016
USD ($)
item
Dec. 31, 2015
USD ($)
item
Oct. 03, 2005
USD ($)
item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Investments in joint venture       $ 7,212,044 $ 8,336,505 $ 7,819,162  
Number of units | item           1,033  
Outstanding amount of mortgage       233,221,258 $ 212,709,080    
Mortgages payable              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Outstanding amount of mortgage       $ 233,221,000      
Dexter Park              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Investments in joint venture $ 15,925,000         $ 3,862,912  
Ownership interest (as a percent) 40.00%       40.00% 40.00%  
Number of units | item       409 409 409  
Hamilton Bay Apts              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Investments in joint venture           $ 841,266 $ 2,500,000,000,000
Ownership interest (as a percent)         50.00% 50.00% 50.00%
Number of units | item       48 48 48 168
Interest rate (as a percent)     5.57%        
Period for which the entity is required to make interest only payments     5 years        
Term of note     10 years        
Amortization period of debt     30 years        
Purchase price of investments             $ 30,875,000
Borrowings     $ 4,750,000        
Dexter Park | Mortgage, 5.57%, Due 2019              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Interest rate (as a percent) 5.57%            
Period for which the entity is required to make interest only payments   2 years          
Amortization period of debt 30 years            
Outstanding amount of mortgage       $ 82,004,000      
Residential buildings              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Number of units | item           1,030  
Residential buildings | Dexter Park              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Number of units | item       409 409 409  
Residential buildings | Hamilton Bay Apts              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Number of units | item       48 48 48  
Residential buildings | Dexter Park              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Number of units | item 409