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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton on Main) (Details) |  | 1 Months Ended | 12 Months Ended |
--- | --- | --- | --- | ---
Aug. 31, 2004 USD ($) item | Aug. 31, 2014 USD ($) | Dec. 31, 2015 USD ($) item | Dec. 31, 2014 USD ($) item | Dec. 31, 2013 USD ($) item | Dec. 31, 2005 USD ($) item | May. 31, 2008 item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  | $ 7,819,162 | $ 8,807,868 | $ 12,025,144 |  |
Distribution to the Partnership |  |  | $ 3,785,883 | $ 3,858,386 | 3,893,662 |  |
Hamilton on Main Apts |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture | $ 8,000,000 |  |  |  | $ 2,475,752 |  |
Ownership interest (as a percent) | 50.00% |  |  | 50.00% | 50.00% |  |
Number of units | item | 280 |  | 148 | 148 | 148 |  |
Hamilton on Main Apts |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Purchase price of real estate properties | $ 56,000,000 |  |  |  |  |  |
Number of units sold | item |  |  |  |  |  |  | 137
Distribution to the Partnership |  | $ 850,000 |  |  |  |  |
Hamilton on Main Apts | Mortgage, 5.18%, 2005 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Term of debt |  |  |  |  |  | 10 years |
Number of buildings | item |  |  |  |  |  | 3 |
Mortgage amount |  |  |  |  |  | $ 16,825,000 |
Interest rate (as a percent) |  |  |  |  |  | 5.18% |
Period for which the entity is required to make interest only payments |  |  |  |  |  | 3 years |
Amortization period of debt |  |  |  |  |  | 30 years |
Term excluding period for which interest only payments to be made |  |  |  |  |  | 7 years |
Net proceeds after funding escrow accounts and closing costs |  |  |  |  |  | $ 16,700,000 |
Repayment of loan |  | $ 15,205,000 |  |  |  |  |
Hamilton on Main Apts | Mortgage, 4.34%, August 2014 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Term of debt |  | 10 years |  |  |  |  |
Mortgage amount |  | $ 16,900,000 |  |  |  |  |
Interest rate (as a percent) |  | 4.34% |  |  |  |  |
Refinancing costs |  |  |  | $ 161,000 |  |  |
Residential buildings | Hamilton on Main Apts |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | item |  |  | 148 | 148 | 148 |  |

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