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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, 2019
USD ($)
item
Feb. 07, 2020
USD ($)
Dec. 31, 2018
USD ($)
item
Dec. 31, 2017
USD ($)
item
Oct. 03, 2005
USD ($)
item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Investments in joint venture | $     $ 1,430,402   $ 1,985,680 $ 7,212,044  
Number of units | item     913   913 913  
Number of units retained for long-term investment | item     (689)   (689) (689)  
Outstanding amount of mortgage | $     $ 281,771,246   $ 252,370,843    
Unsold units | item         3 34  
Subsequent event              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Interest rate (as a percent)       3.53%      
Amortization period of debt       15 years      
Mortgage amount | $       $ 6,175,000      
Hamilton Bay Apts              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Investments in joint venture | $         $ 369,689 $ 1,548,676 $ 2,500,000
Ownership interest (as a percent)     50.00%   50.00% 50.00% 50.00%
Number of units | item     48   48 48 168
Number of units sold | item     3       120
Number of units retained for long-term investment | item             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          
Capital contributions | $ $ 2,222,000            
Gain on sale of assets | $     $ 429,000        
Unsold units | item         1 17  
Purchase price of investments | $             $ 30,875,000
Borrowings | $   $ 4,750,000          
Residential buildings              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Number of units | item     910   910 910  
Residential buildings | Hamilton Bay Apts              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Number of units | item     48   48 48  
Mortgages payable              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Outstanding amount of mortgage | $     $ 281,771,000        
Mortgages payable | Minimum              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Interest rate (as a percent)     3.59%        
Mortgages payable | Maximum              
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              
Interest rate (as a percent)     5.81%