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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, 2019
USD ($)
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Feb. 07, 2020
Dec. 31, 2018
USD ($)
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Dec. 31, 2017
USD ($)
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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture | $     $ 1,430,402   $ 1,985,680 $ 7,212,044
Number of units     913   913 913
Unsold units         3 34
Number of units retained for long-term investment     (689)   (689) (689)
Outstanding amount of mortgage | $     $ 281,771,246   $ 252,370,843  
Subsequent event            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Interest rate (as a percent)       3.53%    
Amortization period of debt       15 years    
Mortgages payable            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Outstanding amount of mortgage | $     281,771,000      
Hamilton 1025            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Investments in joint venture | $   $ 2,352,000 $ 45,004   $ 188,090 $ 1,051,759
Ownership interest (as a percent)   50.00% 50.00%   50.00% 50.00%
Number of units   176 176   176 176
Number of units sold   127 2      
Unsold units         2 17
Number of units retained for long-term investment   49        
Capital contributions | $ $ 2,359,500          
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        
Purchase price of investments | $   $ 23,750,000        
Borrowings | $   $ 5,000,000        
Gain on sale of assets | $     $ 306,000      
Residential buildings            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units     910   910 910
Residential buildings | Hamilton 1025            
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES            
Number of units     175   175 175