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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton 1025) (Details)
12 Months Ended
Jul. 08, 2016
USD ($)
Mar. 02, 2005
USD ($)
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Dec. 31, 2017
USD ($)
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Jan. 31, 2018
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Dec. 31, 2016
USD ($)
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Feb. 01, 2016
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Dec. 31, 2015
USD ($)
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Feb. 01, 2015
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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  
Unsold units             5  
Number of units retained for long-term investment             (786)  
Outstanding amount of mortgage | $     233,221,258   $ 212,709,080      
Mortgages payable                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Outstanding amount of mortgage | $     $ 233,221,000          
Hamilton 1025                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Investments in joint venture | $   $ 2,352,000         $ 129,305  
Ownership interest (as a percent)   50.00%     50.00%   50.00%  
Number of units   176 176   176   176  
Number of units sold   127       159 127 139
Unsold units     20   37 17    
Number of units retained for long-term investment   49 18   0   (48)  
Capital contributions | $ $ 2,359,500              
Number of units under a purchase and sale agreement     8          
Purchase price of investments | $   $ 23,750,000            
Gain on sale of assets | $     $ 2,380,000          
Hamilton 1025 | Subsequent event                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units sold       1        
Hamilton 1025 | Mortgages payable                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Term of debt   10 years            
Interest rate (as a percent)   5.67%            
Period for which the entity is required to make interest only payments   5 years            
Amortization period of debt   30 years            
Borrowings | $   $ 5,000,000            
Residential buildings                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units             1,030  
Residential buildings | Hamilton 1025                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units     175   175   175