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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 11,534,559 $ 2,144,205 $ 4,237,803
Non-cash items included in Net Income:      
Depreciation 23,214,100 18,877,511 15,163,420
Amortization of Financing Costs 733,485 829,017 522,250
Stock Compensation Expense 1,064,678 855,768 922,944
Provision for Uncollectible Notes and Other Receivables 909,397 1,123,926 1,020,655
Gain on Sales of Securities, net (2,285,301) (204,230) (1,542,589)
(Gain) Loss on Sales of Investment Property & Equipment 2,163 80,268 (7,313)
Changes in Operating Assets and Liabilities:      
Inventory of Manufactured Homes (3,113,164) (2,004,695) 1,479,326
Notes and Other Receivables (1,204,014) 840,066 279,590
Prepaid Expenses and Other Assets (435,124) (706,779) 553,730
Accounts Payable 145,747 991,997 195,580
Accrued Liabilities and Deposits (1,878,719) 1,976,958 904,960
Tenant Security Deposits 665,605 904,200 596,105
Net Cash Provided by Operating Activities 29,353,412 25,708,212 24,326,461
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of Manufactured Home Communities, net of mortgages assumed (4,081,798) (78,926,525) (15,879,551)
Purchase of Investment Property and Equipment (58,184,812) (51,218,338) (41,858,627)
Proceeds from Sales of Investment Property and Equipment 1,114,503 777,394 768,641
Additions to Land Development Costs (3,728,869) (921,141) (268,983)
Purchase of Securities Available for Sale (27,518,151) (23,019,035) (9,707,038)
Proceeds from Sales of Securities Available for Sale 14,831,737 4,633,019 10,911,791
Net Cash Used in Investing Activities (77,567,390) (148,674,626) (56,033,767)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Mortgages, net of mortgages assumed 31,804,000 139,432,000 0
Net Proceeds (Payments) from Short Term Borrowings 406,935 (19,452,727) 28,320,234
Principal Payments of Mortgages and Loans (25,072,315) (37,756,234) (4,639,539)
Financing Costs on Debt (668,338) (2,311,829) (623,023)
Proceeds from Issuance of Preferred Stock, net 49,120,853 43,042,124 0
Proceeds from Issuance of Common Stock in the DRIP, net of Dividend Reinvestments 20,012,393 22,593,531 30,933,748
Proceeds from Exercise of Stock Options 2,485,060 170,075 167,460
Preferred Dividends Paid (14,563,645) (7,556,588) (7,556,588)
Common Dividends Paid, net of Dividend Reinvestments (17,630,270) (16,740,833) (14,427,337)
Net Cash Provided by Financing Activities 45,894,673 121,419,519 32,174,955
Net Increase (Decrease) in Cash and Cash Equivalents (2,319,305) (1,546,895) 467,649
Cash and Cash Equivalents at Beginning of Year 6,535,897 8,082,792 7,615,143
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 4,216,592 $ 6,535,897 $ 8,082,792