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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Bay Apts and Sales) (Details)
12 Months Ended
Dec. 31, 2017
USD ($)
item
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Investments in joint venture | $ $ 7,212,044 $ 8,336,505 $ 7,819,162
Number of units     1,033
Number of units sold     242
Number of units retained for long-term investment     (786)
Outstanding amount of mortgage | $ $ 233,221,258 $ 212,709,080  
Unsold units     5
Hamilton Bay Sales and Hamilton Bay Apartments      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Number of units 19    
Number of units under a purchase and sale agreement 6    
Hamilton Bay Apts      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Number of units sold 1    
Gain on the sale of real estate | $ $ 133,000    
Residential buildings      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Number of units     1,030
Mortgages payable      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Outstanding amount of mortgage | $ $ 233,221,000    
Mortgages payable | Minimum      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Interest rate (as a percent) 3.24%    
Mortgages payable | Maximum      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Interest rate (as a percent) 5.97%