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Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 5,836,823 $ 6,474,057 $ 3,696,263
Non-cash items included in Net Income:      
Depreciation 11,681,724 7,357,158 5,962,338
Amortization of Financing Costs 462,362 302,280 376,918
Stock Compensation Expense 850,349 573,244 295,042
Provision for Uncollectible Notes and Other Receivables 760,570 745,993 461,668
Gain on Sale of Securities Transactions, net (4,055,812) (4,092,585) (2,692,649)
(Gain) Loss on Sales of Investment Property & Equipment (18,803) 41,481 (28,873)
Changes in Operating Assets and Liabilities -      
Inventory of Manufactured Homes (1,930,961) (1,666,333) 385,493
Notes and Other Receivables (4,066,431) (2,134,003) (188,442)
Prepaid Expenses (271,975) (283,268) 108,466
Accounts Payable 558,692 381,349 (59,805)
Accrued Liabilities and Deposits 581,139 985,739 (23,811)
Tenant Security Deposits 850,411 402,637 118,284
Net Cash Provided by Operating Activities 11,238,088 9,087,749 8,410,892
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of Manufactured Home Communities (80,574,921) (44,825,340) (17,500,000)
Purchase of Investment Property and Equipment (26,815,409) (16,975,016) (6,846,921)
Proceeds from Sales of Investment Property and Equipment 915,113 1,069,516 709,234
Additions to Land Development Costs (519,214) (472,845) (290,177)
Purchase of Securities Available for Sale (22,352,376) (21,941,884) (21,100,859)
Proceeds from Sales of Securities Available for Sale 18,981,468 16,159,894 5,263,695
Net Cash Used by Investing Activities (110,365,339) (66,985,675) (39,765,028)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Mortgages 53,760,000 25,380,000 25,020,000
Net Proceeds from Short-Term Borrowings 38,677,391 0 1,713,668
Principal Payments of Mortgages and Loans (9,686,487) (23,073,544) (25,553,767)
Financing Costs on Debt (1,116,914) (456,615) (635,985)
Proceeds from Issuance of Common Stock, net of reinvestments 33,330,652 16,667,139 12,310,484
Proceeds from Issuance of Preferred Stock, net of offering costs 0 56,996,101 31,854,328
Proceeds from Exercise of Stock Options 0 30,240 75,600
Preferred Dividends Paid (7,556,588) (5,068,697) (1,426,659)
Common Dividends Paid, net of Reinvestments (11,701,484) (10,338,897) (8,866,530)
Net Cash Provided by Financing Activities 95,706,570 60,135,727 34,491,139
Net Increase (Decrease) In Cash and Cash Equivalents (3,420,681) 2,237,801 3,137,003
Cash and Cash Equivalents at Beginning of Year 11,035,824 8,798,023 5,661,020
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 7,615,143 $ 11,035,824 $ 8,798,023