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RENTAL PROPERTIES (Details 3) (USD $) | 12 Months Ended |  | 1 Months Ended |  | 1 Months Ended |  | 1 Months Ended |  | 1 Months Ended | 12 Months Ended |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 Mortgages payable | May 31, 2011 Avon Street Apartments Residential apartment complex | May 18, 2011 Avon Street Apartments Residential apartment complex item | Jul. 31, 2011 Battle Green Apartments Mortgages payable | Jul. 27, 2011 Battle Green Apartments Mortgages payable | Jun. 30, 2011 Battle Green Apartments Residential apartment complex | Jun. 02, 2011 Battle Green Apartments Residential apartment complex item | Jul. 31, 2011 Battle Green Apartments Harold Brown Mortgages payable | Jun. 30, 2011 Battle Green Apartments Harold Brown Mortgages payable | Dec. 31, 2011 Battle Green Apartments Harold Brown Mortgages payable | Jun. 02, 2011 Battle Green Apartments Harold Brown Mortgages payable
RENTAL PROPERTIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of units |  |  |  |  |  | 66 |  |  |  | 48 |  |  |  |
Sales price of real estate properties |  |  |  |  | $ 8,750,000 |  |  |  |  |  |  |  |  |
Gain on sale of property |  |  |  |  | 7,700,000 |  |  |  |  |  |  |  |  |
Net proceeds from sale of property |  | 8,297,928 |  |  | 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% |  |  |  |  |  | 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) | 5.65% |  |  | 5.63% |  |  |  | 5.07% |  |  |  |  |  |
Repayment of debt |  |  |  |  |  |  |  |  |  |  | 3,998,573 |  |  |
Amount returned to partnership |  |  |  |  |  |  |  |  |  |  | 1,000,000 |  |  |
Interest paid | $ 7,776,000 | $ 8,011,000 | $ 8,182,000 |  |  |  |  |  |  |  |  |  | $ 38,123 |

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