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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Rental $ 226,106 $ 228,300 $ 730,676 $ 699,803
Interest on mortgages - notes receivable 0 0 0 200
Total 226,106 228,300 730,676 700,003
Costs and Expenses:        
General and administrative 229,511 206,608 678,487 626,118
Rental property:        
Operating expenses 132,439 141,006 416,113 425,198
Interest expense and amortization of mortgage costs 30,454 37,959 91,128 62,545
Real estate taxes 10,270 9,962 31,427 31,109
Depreciation on real estate 8,926 12,549 33,031 37,913
Total 411,600 408,084 1,250,186 1,182,883
Other Income:        
Gain on extinguishment of debt 228,261 228,261
Investment income 283 294 1,382 4,297
Net Income ( loss) $ (185,211) $ 48,771 $ (518,128) $ (250,322)
Earnings per Common Share basic and diluted:        
Net Income (loss) $ (0.04) $ 0.01 $ (0.12) $ (0.06)
Weighted Average Number of Shares Outstanding - basic and diluted 4,288,680 4,288,680 4,288,680 4,288,680