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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Bay Apts and Sales) (Details)
1 Months Ended 12 Months Ended
Mar. 01, 2017
USD ($)
Feb. 28, 2007
USD ($)
Dec. 31, 2018
USD ($)
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Dec. 31, 2017
USD ($)
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Dec. 31, 2016
USD ($)
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Oct. 03, 2005
USD ($)
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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture | $     $ 1,985,680 $ 7,212,044 $ 8,336,505  
Number of units     1,033 1,033 1,033  
Number of units sold     16 29    
Number of units retained for long-term investment     (689) (689) (689)  
Outstanding amount of mortgage | $     $ 252,370,843 $ 233,221,258    
Unsold units     3 34 38  
Hamilton Bay Apts            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture | $     $ 369,689 $ 1,548,676 $ 768,714 $ 2,500,000
Ownership interest (as a percent)     50.00% 50.00% 50.00% 50.00%
Number of units     48 48 48 168
Number of units sold           120
Number of units retained for long-term investment           48
Term of debt   10 years        
Interest rate (as a percent)   5.57%        
Period for which the entity is required to make interest only payments   5 years        
Amortization period of debt   30 years        
Number of units under a purchase and sale agreement     2      
Capital contributions | $ $ 2,222,000          
Gain on the sale of real estate | $     $ 2,438,000 $ 3,628,000    
Unsold units     1 17    
Purchase price of investments | $           $ 30,875,000
Borrowings | $   $ 4,750,000        
Hamilton Bay Sales            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture | $         $ 79,122  
Ownership interest (as a percent)         50.00%  
Number of units     3   120  
Number of units sold       1    
Gain on the sale of real estate | $       $ 133,000    
Unsold units         1  
Residential buildings            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units     1,030 1,030 1,030  
Residential buildings | Hamilton Bay Apts            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units     48 48 48  
Residential buildings | Hamilton Bay Sales            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units         120  
Mortgages payable            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Outstanding amount of mortgage | $     $ 252,371,000      
Mortgages payable | Minimum            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Interest rate (as a percent)     3.76%      
Mortgages payable | Maximum            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Interest rate (as a percent)     5.81%