CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2011	Dec. 31, 2010
INVESTMENT PROPERTY AND EQUIPMENT
Land	$ 17,869,214	$ 15,987,214
Site and Land Improvements	141,336,346	124,836,496
Buildings and Improvements	5,436,622	4,658,017
Rental Homes and Accessories	26,610,360	23,108,345
Total Investment Property	191,252,542	168,590,072
Equipment and Vehicles	8,825,662	8,291,216
Total Investment Property and Equipment	200,078,204	176,881,288
Accumulated Depreciation	(66,555,081)	(61,142,288)
Net Investment Property and Equipment	133,523,123	115,739,000
OTHER ASSETS
Cash and Cash Equivalents	8,798,023	5,661,020
Securities Available for Sale	43,298,214	28,757,477
Inventory of Manufactured Homes	10,188,747	10,574,240
Notes and Other Receivables, net	21,325,854	21,599,080
Unamortized Financing Costs	1,319,119	1,060,052
Prepaid Expenses	627,607	736,073
Land Development Costs	4,863,849	4,653,573
Total Other Assets	90,421,413	73,041,515
TOTAL ASSETS	223,944,536	188,780,515
LIABILITIES:
MORTGAGES PAYABLE	90,282,010	90,815,777
OTHER LIABILITIES:
Accounts Payable	688,672	748,477
Loans Payable	23,949,831	22,236,163
Accrued Liabilities and Deposits	2,246,081	2,269,892
Tenant Security Deposits	900,737	782,453
Total Other Liabilities	27,785,321	26,036,985
Total Liabilities	118,067,331	116,852,762
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Series A - 8.25% Cumulative Redeemable PreferredStock, par value $.10 per share, $33,470,000 liquidation value, 1,380,000 shares authorized, 1,338,800 shares issued and outstanding as of December 31, 2011	33,470,000
Common Stock - $.10 par value per share, 28,000,000 and 20,000,000 shares authorized; 15,252,839 and 13,701,625 shares issued and outstanding as of December 31, 2011 and 2010, respectively	1,525,284	1,370,163
Excess Stock - $.10 par value per share, 3,000,000 shares authorized; no shares issued or outstanding
Additional Paid-In Capital	69,088,409	64,775,002
Accumulated Other Comprehensive Income	2,461,305	6,450,381
Accumulated Deficit	(667,793)	(667,793)
Total Shareholders' Equity	105,877,205	71,927,753
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 223,944,536	$ 188,780,515