Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

4. Discontinued Operations

During the quarter ended March 31, 2012, the Company designated PDL, Inc. & Associates, Limited co-partnership, Presidential Matmor Corp. and PDL, Inc. as discontinued operations. All amounts have been adjusted retrospectively for the change through the date of foreclosure.

The following table summarizes for the property discontinued:

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Revenues:
Rental	$	-	$	902,928	$	-	$	1,798,580
Rental property expenses:
Operating		-		618,879		-		1,204,460
Interest on mortgage debt		-		555,783		-		1,117,825
Real estate taxes		-		78,742		-		157,380
Total rental property expense		-		1,253,404		-		2,479,665
Other income:
Investment income		-		701		-		1,390
Net loss from discontinued operations	$	-	$	(349,775)	$	-	$	(679,695)

	June 30, 2014		December 31, 2013
Assets related to discontinued operations:
Other assets	$	-	$	45,793
Liabilities related to discontinued operations:
Other liabilities	$	-	$	48,368