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RENTAL PROPERTIES (Details) (USD $)
 6 Months Ended 1 Months Ended 1 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2012
item
Jun. 30, 2011
Dec. 31, 2011
Jun. 30, 2012
Mortgages payable
May 31, 2011
Avon Street Apartments
Jun. 30, 2011
Battle Green Apartments
Jul. 31, 2011
Battle Green Apartments
Mortgages payable
Jun. 30, 2012
Battle Green Apartments
Mortgages payable
Jul. 27, 2011
Battle Green Apartments
Mortgages payable
Jun. 30, 2012
Minimum
Mortgages payable
Jul. 31, 2011
Harold Brown
Battle Green Apartments
Mortgages payable
Jun. 30, 2011
Harold Brown
Battle Green Apartments
Mortgages payable
Jun. 02, 2011
Harold Brown
Battle Green Apartments
Mortgages payable
Jun. 30, 2012
Harold Brown
Minimum
Jun. 30, 2012
Harold Brown
Maximum
Jun. 30, 2012
Land, improvements and parking lots
Dec. 31, 2011
Land, improvements and parking lots
Jun. 30, 2012
Land, improvements and parking lots
Minimum
Jun. 30, 2012
Land, improvements and parking lots
Maximum
Jun. 30, 2012
Buildings and improvements
Dec. 31, 2011
Buildings and improvements
Jun. 30, 2012
Buildings and improvements
Minimum
Jun. 30, 2012
Buildings and improvements
Maximum
Jun. 30, 2012
Kitchen cabinets
Dec. 31, 2011
Kitchen cabinets
Jun. 30, 2012
Kitchen cabinets
Minimum
Jun. 30, 2012
Kitchen cabinets
Maximum
Jun. 30, 2012
Carpets
Dec. 31, 2011
Carpets
Jun. 30, 2012
Carpets
Minimum
Jun. 30, 2012
Carpets
Maximum
Jun. 30, 2012
Air conditioning
Dec. 31, 2011
Air conditioning
Jun. 30, 2012
Air conditioning
Minimum
Jun. 30, 2012
Air conditioning
Maximum
Jun. 30, 2012
Laundry equipment
Dec. 31, 2011
Laundry equipment
Jun. 30, 2012
Laundry equipment
Minimum
Jun. 30, 2012
Laundry equipment
Maximum
Jun. 30, 2012
Elevators
Dec. 31, 2011
Elevators
Jun. 30, 2012
Swimming pools
Dec. 31, 2011
Swimming pools
Jun. 30, 2012
Equipment
Dec. 31, 2011
Equipment
Jun. 30, 2012
Equipment
Minimum
Jun. 30, 2012
Equipment
Maximum
Jun. 30, 2012
Motor vehicles
Dec. 31, 2011
Motor vehicles
Jun. 30, 2012
Fences
Dec. 31, 2011
Fences
Jun. 30, 2012
Fences
Minimum
Jun. 30, 2012
Fences
Maximum
Jun. 30, 2012
Furniture and fixtures
Dec. 31, 2011
Furniture and fixtures
Jun. 30, 2012
Furniture and fixtures
Minimum
Jun. 30, 2012
Furniture and fixtures
Maximum
Jun. 30, 2012
Smoke alarms
Dec. 31, 2011
Smoke alarms
Jun. 30, 2012
Smoke alarms
Minimum
Jun. 30, 2012
Smoke alarms
Maximum
Jun. 30, 2012
Residential buildings
item
May 18, 2011
Residential buildings
Avon Street Apartments
item
Jun. 02, 2011
Residential buildings
Battle Green Apartments
item
Jun. 30, 2012
Residential and mixed-use properties
item
Jun. 30, 2012
Residential and mixed-use properties
Partially owned properties
item
Jun. 30, 2012
Residential and mixed-use properties
Partially owned properties
Minimum
Jun. 30, 2012
Residential and mixed-use properties
Partially owned properties
Maximum
RENTAL PROPERTIES                                                                                                                                        
Number of units 120                                                                                                                         799 66 48   799    
Number of properties                                                                                                                           6     20 9    
Percentage of ownership interest                           43.20% 57.00%                                                                                                       40.00% 50.00%
Rental properties                                                                                                                                        
Total fixed assets $ 159,952,815   $ 159,123,799                                                                                                                                  
Less: Accumulated depreciation (63,093,627)   (60,199,265)                                                                                                                                  
Total fixed assets, net 96,859,188   98,924,534                         27,640,161 27,614,537     119,217,520 119,097,186     3,770,024 3,542,249     3,563,159 3,307,499     809,415 788,146     372,723 368,955     1,139,296 1,139,296 235,242 235,242 1,802,339 1,744,006     107,788 107,788 24,474 22,974     1,076,107 1,039,439     194,567 116,482                  
Useful Life                                   15 years 40 years     15 years 40 years     5 years 10 years     5 years 10 years     7 years 10 years     5 years 7 years 20 years   10 years       5 years 7 years 5 years       5 years 10 years     5 years 7 years     5 years 7 years              
Sales price of real estate properties         8,750,000                                                                                                                              
Gain on sale of property         7,700,000                                                                                                                              
Net proceeds from sale of property   8,284,839     5,444,000                                                                                                                              
Purchase price of real estate properties           10,000,000                                                                                                                            
Borrowings             5,000,000         3,998,573                                                                                                                
Interest rate (as a percent)               4.95%   4.25%     6.00%                                                                                                              
Term of debt                       4 years                                                                                                                
Notice period demanding early payment                       6 months                                                                                                                
Amortization period of debt             30 years                                                                                                                          
Deferred financing cost associated with mortgage                 100,000                                                                                                                      
Effective interest rate (as a percent)       5.62%       5.07%                                                                                                                        
Repayment of debt             3,998,573                                                                                                                          
Amount returned to partnership                 1,000,000                                                                                                                      
Interest paid $ 3,900,000 $ 3,976,000                 $ 38,123