Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Investment Property and Equipment
Land	$ 47,476,314	$ 45,477,814
Site and Land Improvements	398,776,390	377,215,400
Buildings and Improvements	21,101,836	20,307,097
Rental Homes and Accessories	172,862,227	134,708,763
Total Investment Property	640,216,767	577,709,074
Equipment and Vehicles	14,986,196	13,697,460
Total Investment Property and Equipment	655,202,963	591,406,534
Accumulated Depreciation	(140,255,603)	(117,761,146)
Net Investment Property and Equipment	514,947,360	473,645,388
Other Assets
Cash and Cash Equivalents	4,216,592	6,535,897
Securities Available for Sale at Fair Value	108,755,172	75,011,260
Inventory of Manufactured Homes	17,424,574	14,311,410
Notes and Other Receivables, net	20,323,191	20,028,574
Prepaid Expenses and Other Assets	4,497,937	4,062,813
Land Development Costs	10,279,992	6,722,048
Total Other Assets	165,497,458	126,672,002
TOTAL ASSETS	680,444,818	600,317,390
Liabilities:
Mortgages Payable, net of unamortized debt issuance costs	293,025,592	283,049,802
Other Liabilities:
Accounts Payable	2,962,037	2,816,290
Loans Payable, net of unamortized debt issuance costs	58,285,385	57,862,206
Accrued Liabilities and Deposits	4,820,142	6,696,577
Tenant Security Deposits	4,319,695	3,654,090
Total Other Liabilities	70,387,259	71,029,163
Total Liabilities	363,412,851	354,078,965
Commitments And Contingencies
Shareholders' equity:
Series A - 8.25% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 3,663,800 shares authorized, issued and outstanding as of December 31, 2016 and 2015, respectively	91,595,000	91,595,000
Series B - 8.0% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 4,000,000 and 2,000,000 shares authorized; 3,801,200 and 1,801,200 shares issued and outstanding as of December 31, 2016 and 2015, respectively	95,030,000	45,030,000
Common Stock - $0.10 par value per share, 75,000,000 and 62,000,000 shares authorized; 29,388,811 and 27,086,838 shares issued and outstanding as of December 31, 2016 and 2015, respectively	2,938,881	2,708,684
Excess Stock - $0.10 par value per share, 3,000,000 shares authorized; no shares issued or outstanding as of December 31, 2016 and 2015, respectively	0	0
Additional Paid-In Capital	111,422,691	109,629,260
Accumulated Other Comprehensive Income (Loss)	16,713,188	(2,056,726)
Accumulated Deficit	(667,793)	(667,793)
Total Shareholders' Equity	317,031,967	246,238,425
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 680,444,818	$ 600,317,390