Loss Relating to Flood

12 Months Ended

Dec. 31, 2013

Loss Relating to Flood [Abstract]

LOSS RELATING TO FLOOD

NOTE 11 – LOSS RELATING TO FLOOD

In May 2011, Memphis Mobile City, a 157-site community in Memphis TN, experienced an unusual flood that swept the region.  All residents of the community were evacuated.  The community remains closed.  We are currently working on plans for the redevelopment of this community as a manufactured home community.  In addition to the loss in rental and related income, we have recorded a loss of $984,701 for the year ended December 31, 2011 for the amount, net of insurance proceeds, for the loss of inventory, rental homes, and disposal and other costs associated with this event.