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DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended
--- | --- | --- | ---
Sep. 30, 2011 | Sep. 30, 2011 | Jun. 30, 2011 Avon Street Apartments
DISCONTINUED OPERATIONS AND SALES OF REAL ESTATE |  |  |
Total Revenues |  | $ 349,548 |
Operating and other expenses |  | 235,441 |
Depreciation and amortization - discontinued operations |  | 30,295 |
Total Expenses |  | 267,981 |
Income from discontinued operations | (2,245) | 81,567 |
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 | $ (808) | $ 7,720,459 | $ 7,720,459

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- Definition Represents the amount of operating and other expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. + References No definition available. + Details
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- Definition Represents the amount of expense related to sale of real estate. + References No definition available. + Details
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- Definition Reflects for the period the total of the carrying amount of the commercial, industrial and residential land and buildings sold plus certain overhead and other costs incurred to place the real estate in saleable condition, capitalized interest costs in the properties sold, and inventory impairment losses recognized. This element would most likely be used by an entity whose principal activities involve real estate or which has significant real estate operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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