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Recent Real Estate Transactions | 12 Months Ended
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Dec. 31, 2017
Real Estate [Abstract] |
Recent Real Estate Transactions | 3. RECENT REAL ESTATE TRANSACTIONS During the year ended December 31, 2017, the Company acquired forty-seven Model Home properties and leased them back to the home builders. The purchase price for the properties totaled $17.6 million. The Company allocated the purchase price of the properties acquired during 2017 as follows:
|  |  |  |  |  | Buildings |  |  | Total |
|  | Land |  |  | and Other |  |  | Purchase Price |
Model Homes Properties |  | $ | 2,980,108 |  |  | $ | 14,580,637 |  |  | $ | 17,560,745 |
|  | $ | 2,980,108 |  |  | $ | 14,580,637 |  |  | $ | 17,560,745 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 + Details
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