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Mortgages Receivable
 12 Months Ended
Dec. 31, 2011
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4. MORTGAGES RECEIVABLE

 

In connection with the sale of two properties to unrelated tenants in common in the fourth quarter of 2008, the Company received mortgage notes receivable totaling $920,216 with interest rates of 6.25% and 6.50% and due dates of October 1, 2013 for both notes. The loans call for interest only payments, and both loans were current as of December 31, 2011. Both notes are secured by the mortgagee's interest in the property.

In February 2011, the Company purchased a mortgage note receivable from an unrelated party where the borrowers were two of the related income fund Partnerships and one from an unrelated income fund partnership. The amounts outstanding from the related Partnerships were paid off shortly after the Company acquired the note. As of December 31, 2011, there was a balance due from the unrelated income fund of $111,866. The note bears interest at 6.77%, is secured by a model home property and is due on demand.