CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
Sep. 30, 2011	Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 3,153,717	$ 4,554,940
Non-Cash Adjustments:
Depreciation	4,371,441	3,257,794
Amortization of Financing Costs	240,194	165,858
Stock Compensation Expense	199,020	49,933
Increase in Provision for Uncollectible Notes and Other Receivables	397,000	275,500
Gain on Securities Transactions, net	(2,027,943)	(2,294,542)
Gain on Sales of Investment Property and Equipment	(29,350)	(151)
Changes in Operating Assets and Liabilities:
Inventory of Manufactured Homes	279,651	(3,440,690)
Notes and Other Receivables	(150,747)	(588,916)
Prepaid Expenses	(518,276)	(429,850)
Accounts Payable	(486,007)	801,206
Accrued Liabilities and Deposits	12,474	108,821
Tenant Security Deposits	134,298	124,323
Net Cash Provided by Operating Activities	5,575,472	2,584,226
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Manufactured Home Communities	(13,300,000)	(13,176,800)
Purchase of Investment Property and Equipment	(5,328,015)	(5,052,167)
Proceeds from Sales of Assets	451,781	265,208
Additions to Land Development	(289,464)	(152,097)
Purchase of Securities Available for Sale	(19,183,660)	(5,746,689)
Net Proceeds from Sales of Securities Available for Sale	3,775,152	6,316,232
Net Cash Used in Investing Activities	(33,874,206)	(17,546,313)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Mortgages	9,520,000	7,478,250
Net Proceeds on Loans		5,006,920
Principal Payments of Mortgages and Loans	(12,757,391)	(1,460,022)
Financing Costs on Debt	(345,846)	(172,774)
Proceeds from Issuance of Preferred Stock, net of offering costs	31,861,173
Proceeds from Issuance of Common Stock, net of amount reinvested	9,011,721	7,466,527
Proceeds from Exercise of Stock Options	75,600
Preferred Dividends Paid	(736,341)
Common Stock Distributions Paid, net of amount reinvested	(6,538,859)	(5,823,124)
Net Cash Provided by Financing Activities	30,090,057	12,495,777
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,791,323	(2,466,310)
CASH AND CASH EQUIVALENTS-BEGINNING	5,661,020	4,519,785
CASH AND CASH EQUIVALENTS-ENDING	$ 7,452,343	$ 2,053,475

The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Also includes net cash inflow or outflow for the increase (decrease) in the beginning and end of period deposits balances.

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The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Alternate captions include Noncash Interest Expense.

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