Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
INVESTMENT PROPERTY AND EQUIPMENT
Land	$ 39,133,514	$ 33,973,214
Site and Land Improvements	296,420,803	256,830,234
Buildings and Improvements	17,394,333	13,273,690
Rental Homes and Accessories	82,173,695	61,747,274
Total Investment Property	435,122,345	365,824,412
Equipment and Vehicles	11,957,513	11,130,719
Total Investment Property and Equipment	447,079,858	376,955,131
Accumulated Depreciation	(95,449,649)	(84,655,017)
Net Investment Property and Equipment	351,630,209	292,300,114
OTHER ASSETS
Cash and Cash Equivalents	2,657,253	7,615,143
Securities Available for Sale	62,367,121	59,254,942
Inventory of Manufactured Homes	15,619,125	13,786,041
Notes and Other Receivables, net	24,625,355	26,019,725
Unamortized Financing Costs	2,184,364	2,128,006
Prepaid Expenses and Other Assets	1,109,406	1,182,850
Land Development Costs	5,909,246	5,693,153
Total Other Assets	114,471,870	115,679,860
TOTAL ASSETS	466,102,079	407,979,974
LIABILITIES:
MORTGAGES PAYABLE	183,861,840	160,639,944
OTHER LIABILITIES
Accounts Payable	2,297,067	1,628,713
Loans Payable	72,348,139	49,118,996
Accrued Liabilities and Deposits	3,910,518	3,852,799
Tenant Security Deposits	2,681,878	2,153,785
Total Other Liabilities	81,237,602	56,754,293
Total Liabilities	265,099,442	217,394,237
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Series A - 8.25% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 3,663,800 shares authorized, issued and outstanding as of September 30, 2014 and December 31, 2013, respectively	91,595,000	91,595,000
Common Stock - $0.10 par value per share, 42,000,000 shares authorized, 23,287,469 and 20,769,892 shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively	2,328,747	2,076,989
Excess Stock - $0.10 par value per share, 3,000,000 shares authorized; no shares issued or outstanding	0	0
Additional Paid-In Capital	105,172,996	96,504,643
Accumulated Other Comprehensive Income	2,573,687	1,076,898
Accumulated Deficit	(667,793)	(667,793)
Total Shareholders' Equity	201,002,637	190,585,737
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 466,102,079	$ 407,979,974