Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Investment Property and Equipment
Land	$ 46,246,314	$ 45,477,814
Site and Land Improvements	390,804,574	377,215,400
Buildings and Improvements	20,780,644	20,307,097
Rental Homes and Accessories	164,755,859	134,708,763
Total Investment Property	622,587,391	577,709,074
Equipment and Vehicles	14,700,145	13,697,460
Total Investment Property and Equipment	637,287,536	591,406,534
Accumulated Depreciation	(134,409,243)	(117,761,146)
Net Investment Property and Equipment	502,878,293	473,645,388
Other Assets
Cash and Cash Equivalents	3,709,897	6,535,897
Securities Available for Sale at Fair Value	111,046,262	75,011,260
Inventory of Manufactured Homes	16,335,779	14,311,410
Notes and Other Receivables, net	20,921,062	20,028,574
Prepaid Expenses and Other Assets	4,938,001	4,062,813
Land Development Costs	9,206,996	6,722,048
Total Other Assets	166,157,997	126,672,002
TOTAL ASSETS	669,036,290	600,317,390
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	285,020,565	283,049,802
Other Liabilities:
Accounts Payable	3,793,716	2,816,290
Loans Payable, net of unamortized debt issuance costs	56,579,336	57,862,206
Accrued Liabilities and Deposits	5,522,991	6,696,577
Tenant Security Deposits	4,209,052	3,654,090
Total Other Liabilities	70,105,095	71,029,163
Total Liabilities	355,125,660	354,078,965
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, 2016 and December 31, 2015, respectively	91,595,000	91,595,000
Series B - 8.0% Cumulative Redeemable Preferred Stock, par value $0.10 per share; 4,000,000 and 2,000,000 shares authorized, 3,801,200 and 1,801,200 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	95,030,000	45,030,000
Common Stock - $0.10 par value per share; 75,000,000 and 62,000,000 shares authorized, 28,311,039 and 27,086,838 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	2,831,104	2,708,684
Excess Stock - $0.10 par value per share; 3,000,000 shares authorized, no shares issued or outstanding as of September 30, 2016 and December 31, 2015, respectively	0	0
Additional Paid-In Capital	104,182,247	109,629,260
Accumulated Other Comprehensive Income (Loss)	20,940,072	(2,056,726)
Accumulated Deficit	(667,793)	(667,793)
Total Shareholders' Equity	313,910,630	246,238,425
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 669,036,290	$ 600,317,390