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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
3/31/2018 $ 1,874,727    
3/31/2019 80,517,759    
3/31/2020 205,532    
3/31/2021 213,629    
3/31/2022 222,044    
Thereafter 41,613,565    
Total 124,647,256 $ 130,152,298  
Less: unamortized deferred financing costs (502,244)    
Debt maturities net of unamortized deferred financing costs $ 124,145,012   $ 135,657,989
Weighted average interest rate (as a percent) 4.99%    
Effective interest rate (as a percent) 5.08%    
Hamilton Essex 81      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Thereafter $ 10,000,000    
Total 10,000,000 9,879,346  
Less: unamortized deferred financing costs (106,865)    
Debt maturities net of unamortized deferred financing costs 9,893,135   9,865,557
345 Franklin      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
3/31/2018 190,248    
3/31/2019 197,742    
3/31/2020 205,532    
3/31/2021 213,629    
3/31/2022 222,044    
Thereafter 8,713,565    
Total 9,742,760 9,849,225  
Less: unamortized deferred financing costs (69,914)    
Debt maturities net of unamortized deferred financing costs 9,672,846   9,916,769
Hamilton 1025      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Debt maturities net of unamortized deferred financing costs     4,728,751
Hamilton Bay Apts      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Total   4,430,574  
Debt maturities net of unamortized deferred financing costs     4,497,183
Hamilton Minuteman      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Thereafter 6,000,000    
Total 6,000,000 5,879,634  
Less: unamortized deferred financing costs (112,182)    
Debt maturities net of unamortized deferred financing costs 5,887,818   5,208,820
Hamilton on Main Apts      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Thereafter 16,900,000    
Total 16,900,000 16,776,940  
Less: unamortized deferred financing costs (107,009)    
Debt maturities net of unamortized deferred financing costs 16,792,991   16,760,889
Dexter Park      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
3/31/2018 1,684,479    
3/31/2019 80,320,017    
Total 82,004,496 $ 83,336,579  
Less: unamortized deferred financing costs (106,274)    
Debt maturities net of unamortized deferred financing costs $ 81,898,222   $ 84,680,020