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DEFERRED FINANCING COSTS
12 Months Ended
Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
DEFERRED FINANCING COSTS
DEFERRED FINANCING COSTS
Costs incurred in connection with financing activities are deferred and amortized over the terms of the relevant debt using the straight line method. Accumulated amortization at December 31, 2015, and December 31, 2014 was $492,328 and $340,860, respectively. When a loan is paid in full, any unamortized financing costs are removed from the related accounts and charged to operations. Total deferred financing costs, net of accumulated amortization, included in other assets in the accompanying consolidated balance sheets were $1,693,872 and $2,191,888, as of December 31, 2015 and 2014, respectively.