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DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE (Details) (USD $) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2011 | Jun. 30, 2011
DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE |  |
Total Revenues |  | $ 349,548
Operating and other expenses |  | 235,441
Depreciation and amortization, discontinued operations |  | 32,540
Total Expenses |  | 267,981
Income from discontinued operations | 16,178 | 81,567
Gain on the sale of Avon Street: |  |
Gain on the sale of real estate | 7,720,459 | 7,720,459
Avon Street Apartments |  |
Gain on the sale of Avon Street: |  |
Sales price of real estate properties | 8,750,000 |
Net book value | (594,035) |
Expense of sale | (435,506) |
Gain on the sale of real estate | $ 7,720,459 |

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- Definition Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 47 -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 + Details
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