Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

The following table summarizes for the property discontinued:

	Year Ended December 31,
	2014		2013
Revenues:
Rental	$	-	$	2,656,689
Rental property expenses:
Operating		-		1,850,580
Interest on mortgage debt		-		1,673,956
Real estate taxes		-		236,122
Total rental property expense		-		3,760,658
Other income:		-
Investment income		-		2,062
Loss from discontinued operations		-		(1,101,907)
Net gain from foreclosure of discontinued operations		-		4,705,968
Net Income from discontinued operations	$	-	$	3,604,061

* All revenues and the majority of expenses were incurred through September 23, 2013, date of foreclosure. Costs of $106,463 were incurred from September 24, 2013 through December 31, 2013 in connection with closing costs associated with the foreclosure.

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