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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Essex) (Details) |  |  |  | 6 Months Ended |
--- | --- | --- | --- | --- | ---
Sep. 30, 2015 USD ($) | Sep. 28, 2015 USD ($) | Mar. 07, 2005 USD ($) item | Jun. 30, 2018 USD ($) | Jun. 30, 2017 USD ($) item | Dec. 31, 2017 USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Investments in joint venture |  |  |  | $ 2,298,588 | $ 9,029,233 | $ 7,212,044
Number of units | item |  |  |  |  | 1,033 |
Distribution to the Partnership |  |  |  | 2,238,962 | $ 2,239,168 |
Mortgage Notes Payable |  |  |  | $ 253,185,372 |  | $ 233,221,258
Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Investments in joint venture |  |  | $ 2,000,000 |  |  |
Ownership interest (as a percent) |  |  | 50.00% |  |  |
Purchase price of investments |  |  | $ 14,300,000 |  |  |
Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Ownership interest (as a percent) |  |  |  |  | 50.00% |
Number of units | item |  |  | 48 |  | 49 |
Number of properties in which borrowing amount collateralized | item |  |  | 1 |  |  |
Capital contributions |  | $ 100,000 |  |  |  |
Distribution to the Partnership | $ 978,193 |  |  |  |  |
Hamilton Essex Development |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Investments in joint venture |  |  |  |  | $ 1,365,727 |
Ownership interest (as a percent) |  |  |  |  | 50.00% |
Number of units | item |  |  |  |  | 1 |
Capacity of real estate property (in cars per lot) | item |  |  | 50 |  |  |
Capital contributions |  | 978,193 |  |  |  |
Residential buildings |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | item |  |  |  |  | 1,030 |
Residential buildings | Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | item |  |  |  |  | 48 |
Commercial |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | item |  |  |  |  | 3 |
Commercial | Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | item |  |  |  |  | 1 |
Commercial | Hamilton Essex Development |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | item |  |  |  |  | 1 |
Mortgages payable | Maximum |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Interest rate (as a percent) |  |  |  | 5.81% |  |
Mortgages payable | Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Borrowings |  |  | $ 10,750,000 |  |  |
Mortgages payable | Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Amount of loan proceeds utilized for pay off the existing mortgage | $ 8,040,719 |  |  |  |  |
Term of debt | 10 years |  |  |  |  |
Mortgage Notes Payable |  |  |  | $ 10,000,000 |  |
Borrowings | $ 10,000,000 |  |  |  |  |
Mortgages payable | Hamilton Essex 81 | LIBOR |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Margin over basis of interest rate (as a percent) | 2.18% |  |  |  |  |
Mortgages payable | Hamilton Essex Development |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Repayment of loan |  | $ 1,952,286 |  |  |  |

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