Loans and Mortgages Payable (Tables)

12 Months Ended

Dec. 31, 2014

Loans and Mortgages Payable [Abstract]

Aggregate principal payments of all loans payable including the credit facility

Year Ended December 31,
2015	$     8,375,131
2016	35,055,572
2017	10,059,584
2018	63,885
2019	4,068,496
Thereafter	19,816,562
Total	$ 77,439,230

Summary of mortgages payable

	At December 31, 2014		Balance at December 31,
Property	Due Date	Interest Rate	2014	2013
Allentown and Clinton Mobile Home Resort	02/01/17	LIBOR + 3.25%	$10,486,045	$10,799,401
Cedarcrest	04/01/21	5.125%	8,966,785	9,124,838
D & R Village and Waterfalls Village	02/27/15	LIBOR + 2.25%	6,803,625	7,089,610
Fairview Manor	02/01/17	5.785%	10,139,450	10,345,239
Heather Highlands	08/28/18	Prime + 1.0%	989,773	1,288,149
Highland Estates	09/01/17	6.175%	9,408,128	9,578,574
Oxford Village	01/01/20	5.94%	7,350,261	7,527,426
Somerset Estates and Whispering Pines	02/26/19	4.89%	731,900	891,382
Southwind Village	01/01/20	5.94%	5,871,176	6,012,690
Suburban Estates and Sunny Acres	06/01/18	4.0%	6,417,395	6,711,306
Summit Estates	05/01/16	12.75%	575,021	-0-
Twin Oaks	12/01/19	5.75%	2,637,078	2,702,771
Various (3 properties)	05/01/16	6.23%	8,221,043	-0-
Various (4 properties)	07/01/23	4.975%	8,495,880	-0-
Various (5 properties)	01/01/22	4.25%	14,679,583	14,964,116
Various (5 properties)	12/06/22	4.75%	7,554,281	7,675,595
Various (5 properties)	02/01/18	6.83%	9,083,178	-0-
Various (11 properties)	08/01/17	LIBOR + 3.0%	12,177,725	12,909,520
Various (13 properties)	03/01/23	4.065%	52,082,527	53,019,327
Total Mortgages	Payable		$182,670,854	$160,639,944

Aggregate principal payments of all mortgages payable

Year Ended December 31,
2015	$     11,476,760
2016	13,294,102
2017	42,609,986
2018	16,524,653
2019	16,061,179
Thereafter	82,704,174
Total	$ 182,670,854