Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Investment Property And Equipment
Land	$ 39,133,514	$ 33,973,214
Site and Land Improvements	299,776,250	256,830,234
Buildings and Improvements	17,534,698	13,273,690
Rental Homes and Accessories	91,719,997	61,747,274
Total Investment Property	448,164,459	365,824,412
Equipment and Vehicles	12,242,086	11,130,719
Total Investment Property and Equipment	460,406,545	376,955,131
Accumulated Depreciation	(99,522,180)	(84,655,017)
Net Investment Property and Equipment	360,884,365	292,300,114
Other Assets
Cash and Cash Equivalents	8,082,792	7,615,143
Securities Available for Sale at Fair Value	63,555,961	59,254,942
Inventory of Manufactured Homes	12,306,715	13,786,041
Notes and Other Receivables, net	24,719,480	26,019,725
Unamortized Financing Costs	2,228,779	2,128,006
Prepaid Expenses	629,120	1,182,850
Land Development Costs	5,861,764	5,693,153
Total Other Assets	117,384,611	115,679,860
TOTAL ASSETS	478,268,976	407,979,974
Liabilities:
Mortgages Payable	182,670,854	160,639,944
Other liabilities:
Accounts Payable	1,824,293	1,628,713
Loans Payable	77,439,230	49,118,996
Accrued Liabilities and Deposits	4,757,604	3,852,799
Tenant Security Deposits	2,749,890	2,153,785
Total Other Liabilities	86,771,017	56,754,293
Total Liabilities	269,441,871	217,394,237
Commitments And Contingencies
Shareholders' equity:
Series A - 8.25% Cumulative Redeemable Preferred Stock, par value $.10 per share, 3,663,800 shares authorized, issued and outstanding as of December 31, 2014 and 2013	91,595,000	91,595,000
Common Stock - $.10 par value per share, 42,000,000 shares authorized; 24,372,083 and 20,769,892 shares issued and outstanding as of December 31, 2014 and 2013, respectively	2,437,208	2,076,989
Excess Stock - $.10 par value per share, 3,000,000 shares authorized; no shares issued or outstanding as of December 31, 2014 and 2013	0	0
Additional Paid-In Capital	110,422,454	96,504,643
Accumulated Other Comprehensive Income	5,040,236	1,076,898
Accumulated Deficit	(667,793)	(667,793)
Total Shareholders' Equity	208,827,105	190,585,737
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 478,268,976	$ 407,979,974