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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Bay Apts and Sales) (Details)
1 Months Ended 6 Months Ended
Feb. 28, 2007
USD ($)
item
Jun. 30, 2019
USD ($)
property
Dec. 31, 2018
USD ($)
Jun. 30, 2018
USD ($)
property
Mar. 01, 2017
USD ($)
Oct. 03, 2005
USD ($)
item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture   $ 1,610,362 $ 1,985,680 $ 2,298,596    
Number of units | property       913    
Number of units retained for long-term investment | property       (690)    
Outstanding amount of mortgage   252,012,154 $ 252,370,843      
Unsold units | property       8    
Hamilton Bay Apts            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture   $ 10,328   $ 513,544   $ 2,500,000
Ownership interest (as a percent)       50.00%   50.00%
Number of units   48   48   168
Number of units sold | item           120
Number of units retained for long-term investment | item           48
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          
Outstanding amount of mortgage         $ 2,222,000  
Gain on the sale of real estate   $ 433,000        
Unsold units | property       4    
Purchase price of investments           $ 30,875,000
Borrowings $ 4,750,000          
Residential buildings            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units | property       910    
Residential buildings | Hamilton Bay Apts            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units 48 48   48    
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%