SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Jun. 30, 2013
Segment Reporting Information [Line Items]
Revenues	$ 15,873,000	$ 14,379,000	$ 49,688,000	$ 45,238,000
Segment operating expenses	(13,095,000)	(12,213,000)	(46,054,000)	(36,169,000)
Segment income (loss) from operations	2,778,000	2,166,000	3,634,000	9,069,000
Interest expense - mortgage	(2,511,000)	(1,418,000)	(5,447,000)	(4,761,000)
Interest expense - occupancy tax			(328,000)	0
Loss on extinguishment of debt			(3,910,000)	0
Loss on disposal of assets			(1,092,000)	0
Depreciation and amortization expense	(1,030,000)	(1,144,000)	(3,498,000)	(3,421,000)
Gain from investments	22,000	(148,000)	407,000	(1,225,000)
Income tax benefit	177,000	60,000	2,194,000	254,000
Net income (loss)	(564,000)	(484,000)	(8,040,000)	(84,000)
Total assets	162,073,000	144,514,000	162,073,000	144,514,000	144,686,000
Hotel [Member]
Segment Reporting Information [Line Items]
Revenues	11,849,000	10,475,000	37,428,000	33,581,000
Segment operating expenses	(10,320,000)	(9,563,000)	(37,724,000)	(28,125,000)
Segment income (loss) from operations	1,529,000	912,000	(296,000)	5,456,000
Interest expense - mortgage	(1,766,000)	(648,000)	(3,168,000)
Interest expense - occupancy tax			(328,000)	(1,972,000)
Loss on extinguishment of debt			(3,910,000)
Loss on disposal of assets			(1,092,000)
Depreciation and amortization expense	(491,000)	(609,000)	(1,887,000)	(1,834,000)
Gain from investments	0	0	0	0
Income tax benefit	0	0	0	0
Net income (loss)	(728,000)	(345,000)	(10,681,000)	1,650,000
Total assets	40,956,000	41,458,000	40,956,000	41,458,000
Apartment Building [Member]
Segment Reporting Information [Line Items]
Revenues	4,024,000	3,904,000	12,260,000	11,657,000
Segment operating expenses	(2,194,000)	(2,101,000)	(6,738,000)	(6,460,000)
Segment income (loss) from operations	1,830,000	1,803,000	5,522,000	5,197,000
Interest expense - mortgage	(745,000)	(770,000)	(2,279,000)
Interest expense - occupancy tax			0	(2,789,000)
Loss on extinguishment of debt			0
Loss on disposal of assets			0
Depreciation and amortization expense	(539,000)	(535,000)	(1,611,000)	(1,587,000)
Gain from investments	0	0	0	0
Income tax benefit	0	0	0	0
Net income (loss)	546,000	498,000	1,632,000	821,000
Total assets	64,135,000	65,513,000	64,135,000	65,513,000
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
Interest expense - occupancy tax			0	0
Loss on extinguishment of debt			0
Loss on disposal of assets			0
Depreciation and amortization expense	0		0
Gain from investments	22,000	(148,000)	407,000	(1,225,000)
Income tax benefit	0	0	0	0
Net income (loss)	22,000	(148,000)	407,000	(1,225,000)
Total assets	26,333,000	28,359,000	26,333,000	28,359,000
Other Property [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Segment operating expenses	(581,000)	(549,000)	(1,592,000)	(1,584,000)
Segment income (loss) from operations	(581,000)	(549,000)	(1,592,000)	(1,584,000)
Interest expense - mortgage	0	0	0
Interest expense - occupancy tax			0	0
Loss on extinguishment of debt			0
Loss on disposal of assets			0
Depreciation and amortization expense	0		0
Gain from investments	0	0	0	0
Income tax benefit	177,000	60,000	2,194,000	254,000
Net income (loss)	(404,000)	(489,000)	602,000	(1,330,000)
Total assets	$ 30,649,000	$ 9,184,000	$ 30,649,000	$ 9,184,000