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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Dexter) (Details) |  | 1 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | ---
Oct. 28, 2009 USD ($) item | Oct. 31, 2009 | Feb. 28, 2007 USD ($) | Dec. 31, 2017 USD ($) item | Dec. 31, 2016 USD ($) item | Dec. 31, 2015 USD ($) item | Oct. 03, 2005 USD ($) item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  |  | $ 7,212,044 | $ 8,336,505 | $ 7,819,162 |
Number of units | item |  |  |  |  |  | 1,033 |
Outstanding amount of mortgage |  |  |  | 233,221,258 | $ 212,709,080 |  |
Mortgages payable |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Outstanding amount of mortgage |  |  |  | $ 233,221,000 |  |  |
Dexter Park |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture | $ 15,925,000 |  |  |  |  | $ 3,862,912 |
Ownership interest (as a percent) | 40.00% |  |  |  | 40.00% | 40.00% |
Number of units | item |  |  |  | 409 | 409 | 409 |
Hamilton Bay Apts |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  |  |  |  | $ 841,266 | $ 2,500,000,000,000
Ownership interest (as a percent) |  |  |  |  | 50.00% | 50.00% | 50.00%
Number of units | item |  |  |  | 48 | 48 | 48 | 168
Interest rate (as a percent) |  |  | 5.57% |  |  |  |
Period for which the entity is required to make interest only payments |  |  | 5 years |  |  |  |
Term of note |  |  | 10 years |  |  |  |
Amortization period of debt |  |  | 30 years |  |  |  |
Purchase price of investments |  |  |  |  |  |  | $ 30,875,000
Borrowings |  |  | $ 4,750,000 |  |  |  |
Dexter Park | Mortgage, 5.57%, Due 2019 |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Interest rate (as a percent) | 5.57% |  |  |  |  |  |
Period for which the entity is required to make interest only payments |  | 2 years |  |  |  |  |
Amortization period of debt | 30 years |  |  |  |  |  |
Outstanding amount of mortgage |  |  |  | $ 82,004,000 |  |  |
Residential buildings |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | item |  |  |  |  |  | 1,030 |
Residential buildings | Dexter Park |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | item |  |  |  | 409 | 409 | 409 |
Residential buildings | Hamilton Bay Apts |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | item |  |  |  | 48 | 48 | 48 |
Residential buildings | Dexter Park |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | item | 409 |  |  |  |  |  |

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- Definition This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66022249&loc=d3e33749-111570 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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