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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton 1025) (Details) |  |  | 9 Months Ended | 12 Months Ended |
--- | --- | --- | --- | --- | ---
Jul. 08, 2016 USD ($) | Mar. 02, 2005 USD ($) item | Sep. 30, 2018 USD ($) item | Dec. 31, 2017 USD ($) item | Sep. 30, 2017 USD ($) item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |
Investments in joint venture | $ |  |  | $ 1,804,747 | $ 7,212,044 | $ 8,452,484
Number of units |  |  |  |  | 1,033
Number of units sold |  |  |  |  | 297
Unsold units |  |  |  |  | 46
Number of units retained for long-term investment |  |  |  |  | (690)
Outstanding amount of mortgage | $ |  |  | $ 252,781,336 | 233,221,258 |
Gain on sale of assets | $ |  |  |  | $ 2,380,000 |
Hamilton 1025 |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |
Investments in joint venture | $ |  | $ 2,352,000 |  |  | $ 1,504,948
Ownership interest (as a percent) |  | 50.00% |  |  | 50.00%
Number of units |  | 176 | 3 |  | 176
Number of units sold |  | 127 | 15 | 20 | 155
Unsold units |  |  |  |  | 20
Number of units retained for long-term investment |  | 49 |  |  | (1)
Capital contributions | $ | $ 2,359,500 |  |  |  |
Number of units under a purchase and sale agreement |  |  | 1 |  |
Purchase price of investments | $ |  | $ 23,750,000 |  |  |
Gain on sale of assets | $ |  |  | $ 1,715,000 |  |
Hamilton 1025 | Mortgages payable |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |
Term of debt |  | 10 years |  |  |
Interest rate (as a percent) |  | 5.67% |  |  |
Period for which the entity is required to make interest only payments |  | 5 years |  |  |
Amortization period of debt |  | 30 years |  |  |
Borrowings | $ |  | $ 5,000,000 |  |  |
Residential buildings |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |
Number of units |  |  |  |  | 1,030
Residential buildings | Hamilton 1025 |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |
Number of units |  |  |  |  | 175

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