SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013
Segment Reporting Information [Line Items]
Revenues	$ 16,432,000	$ 15,048,000	$ 33,815,000	$ 30,859,000
Segment operating expenses	(20,622,000)	(12,067,000)	(32,959,000)	(23,956,000)
Segment income (loss) from operations	(4,190,000)	2,981,000	856,000	6,903,000
Interest expense - mortgage	(1,529,000)	(1,644,000)	(2,936,000)	(3,343,000)
Interest expense - occupancy tax	(328,000)	0	(328,000)	0
Loss on extinguishment of debt	(3,910,000)	0	(3,910,000)	0
Loss on disposal of assets	(1,092,000)	0	(1,092,000)	0
Depreciation and amortization expense	(1,284,000)	(1,145,000)	(2,468,000)	(2,277,000)
Gain from investments	688,000	(2,047,000)	385,000	(1,077,000)
Income tax benefit	2,477,000	568,000	2,017,000	194,000
Net income (loss)	(9,168,000)	(1,287,000)	(7,476,000)	400,000
Total assets	166,698,000	144,229,000	166,698,000	144,229,000	144,686,000
Hotel [Member]
Segment Reporting Information [Line Items]
Revenues	12,274,000	10,970,000	25,579,000	23,106,000
Segment operating expenses	(17,872,000)	(9,398,000)	(27,404,000)	(18,562,000)
Segment income (loss) from operations	(5,598,000)	1,572,000	(1,825,000)	4,544,000
Interest expense - mortgage	(767,000)	(660,000)	(1,402,000)	(1,324,000)
Interest expense - occupancy tax	(328,000)		(328,000)
Loss on extinguishment of debt	(3,910,000)		(3,910,000)
Loss on disposal of assets	(1,092,000)		(1,092,000)
Depreciation and amortization expense	(747,000)	(617,000)	(1,396,000)	(1,225,000)
Gain from investments	0	0	0	0
Income tax benefit	0	0	0	0
Net income (loss)	(12,442,000)	295,000	(9,953,000)	1,995,000
Total assets	40,800,000	40,852,000	40,800,000	40,852,000
Apartment Building [Member]
Segment Reporting Information [Line Items]
Revenues	4,158,000	4,078,000	8,236,000	7,753,000
Segment operating expenses	(2,266,000)	(2,197,000)	(4,544,000)	(4,359,000)
Segment income (loss) from operations	1,892,000	1,881,000	3,692,000	3,394,000
Interest expense - mortgage	(762,000)	(984,000)	(1,534,000)	(2,019,000)
Interest expense - occupancy tax	0		0
Loss on extinguishment of debt	0		0
Loss on disposal of assets	0		0
Depreciation and amortization expense	(537,000)	(528,000)	(1,072,000)	(1,052,000)
Gain from investments	0	0	0	0
Income tax benefit	0	0	0	0
Net income (loss)	593,000	369,000	1,086,000	323,000
Total assets	64,581,000	65,768,000	64,581,000	65,768,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Segment operating expenses	0	0	0	0
Segment income (loss) from operations	0	0	0	0
Interest expense - mortgage	0	0	0	0
Interest expense - occupancy tax	0		0
Loss on extinguishment of debt	0		0
Loss on disposal of assets	0		0
Depreciation and amortization expense	0		0
Gain from investments	688,000	(2,047,000)	385,000	(1,077,000)
Income tax benefit	0	0	0	0
Net income (loss)	688,000	(2,047,000)	385,000	(1,077,000)
Total assets	28,373,000	27,429,000	28,373,000	27,429,000
Other Property [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Segment operating expenses	(484,000)	(472,000)	(1,011,000)	(1,035,000)
Segment income (loss) from operations	(484,000)	(472,000)	(1,011,000)	(1,035,000)
Interest expense - mortgage	0	0	0	0
Interest expense - occupancy tax	0		0
Loss on extinguishment of debt	0		0
Loss on disposal of assets	0		0
Depreciation and amortization expense	0		0
Gain from investments	0	0	0	0
Income tax benefit	2,477,000	568,000	2,017,000	194,000
Net income (loss)	1,993,000	96,000	1,006,000	(841,000)
Total assets	$ 32,944,000	$ 10,180,000	$ 32,944,000	$ 10,180,000