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TAXABLE INCOME AND TAX BASIS (Details) (USD $) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
TAXABLE INCOME AND TAX BASIS |  |  |  |  |  |  |  |  |  |  |
Excess amount of statement income over taxable income |  |  |  |  |  |  |  |  | $ 4,300,000 |  |
Book/Tax differences on tax free exchanges |  |  |  |  |  |  |  |  | 4,670,000 | (266,000) | 7,707,000
Reconciliation of Income from Book Basis to Tax Basis Depreciation and Amortization |  |  |  |  |  |  |  |  | 300,000 | (51,000) | 1,024,000
Excess amount of cumulative statement basis over cumulative taxable basis | 4,800,000 |  |  |  |  |  |  |  | 4,800,000 |  |
Excess amount of statement income from joint venture investments over taxable income |  |  |  |  |  |  |  |  | 1,300,000 |  |
Reconciliation of GAAP net income to taxable income |  |  |  |  |  |  |  |  |  |  |
Financial statement ("book") net income (loss) | 317,518 | (32,874) | 4,469,116 | 901,625 | 1,185,130 | 774,453 | 1,047,262 | 626,954 | 5,655,385 | 3,633,798 | 9,291,281
Book/Tax differences from depreciation and amortization |  |  |  |  |  |  |  |  | (300,000) | 51,000 | (1,024,000)
Book/Tax differences on tax free exchanges |  |  |  |  |  |  |  |  | (4,670,000) | 266,000 | (7,707,000)
Book/Tax differences from Investment Properties |  |  |  |  |  |  |  |  | 400,000 | 198,000 | (161,000)
Increase (Decrease) in prepaid rent and allowances |  |  |  |  |  |  |  |  | 175,000 | (40,000) | 29,000
Other |  |  |  |  |  |  |  |  | 50,000 | 57,000 | 7,000
Taxable income (loss) |  |  |  |  |  |  |  |  | 1,310,000 | 4,166,000 | 435,000
Hamilton Green |  |  |  |  |  |  |  |  |  |  |
TAXABLE INCOME AND TAX BASIS |  |  |  |  |  |  |  |  |  |  |
Reconciliation of Income from Book Basis to Tax Basis Depreciation and Amortization |  |  |  |  |  |  |  |  | 1,100,000 |  |
Reconciliation of GAAP net income to taxable income |  |  |  |  |  |  |  |  |  |  |
Book/Tax differences from depreciation and amortization |  |  |  |  |  |  |  |  | (1,100,000) |  |
Nashoba Apartments in Acton, Massachusetts |  |  |  |  |  |  |  |  |  |  |
TAXABLE INCOME AND TAX BASIS |  |  |  |  |  |  |  |  |  |  |
Book/Tax differences on tax free exchanges |  |  |  |  |  |  |  |  | 3,700,000 |  |
Reconciliation of GAAP net income to taxable income |  |  |  |  |  |  |  |  |  |  |
Book/Tax differences on tax free exchanges |  |  |  |  |  |  |  |  | $ (3,700,000) |  |

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