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REAL ESTATE ASSETS | 9 Months Ended
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Sep. 30, 2023
Real Estate [Abstract] |
REAL ESTATE ASSETS | 5. REAL ESTATE ASSETS As of September 30, 2023 and December 31, 2022, real estate assets consisted of the following: SCHEDULE OF REAL ESTATE ASSETS
|  | September 30, 2023 |  |  | December 31, 2022 |
Construction in Progress |  | $ | 5,380,250 |  |  | $ | 15,506,572 |
Land Held for Development |  |  | 3,395,701 |  |  |  | 7,943,126 |
Rental Properties, net |  |  | 31,129,286 |  |  |  | 31,169,031 |
Total Real Estate Assets |  | $ | 39,905,237 |  |  | $ | 54,618,729 |
Single family residential properties As of September 30, 2023 and December 31, 2022, the Company owned 132 Single Family Residential Properties (“SFRs”). The Company’s aggregate investment in those SFRs was $31 million. Depreciation expense was $259,405 and $161,182 in the three months ended September 30, 2023 and 2022, respectively. Depreciation expense was $779,232 and $474,936 in the nine months ended September 30, 2023 and 2022, respectively. These homes are located in Montgomery and Harris Counties, Texas. The following table presents the summary of our SRFs as of September 30, 2023: SUMMARY OF SINGLE FAMILY RESIDENTIAL PROPERTIES
|  | Number of Homes |  |  | Aggregate investment |  |  | Average Investment per Home |
SFRs |  |  | 132 |  |  | $ | 31,388,691 |  |  | $ | 237,793 |

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//976/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//978/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//970/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//972/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//974/tableOfContent + Details
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