Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Investment Property and Equipment
Land	$ 58,679,126	$ 47,476,314
Site and Land Improvements	434,687,047	398,776,390
Buildings and Improvements	22,537,450	21,101,836
Rental Homes and Accessories	205,808,456	172,862,227
Total Investment Property	721,712,079	640,216,767
Equipment and Vehicles	16,584,913	14,986,196
Total Investment Property and Equipment	738,296,992	655,202,963
Accumulated Depreciation	(159,593,306)	(140,255,603)
Net Investment Property and Equipment	578,703,686	514,947,360
Other Assets
Cash and Cash Equivalents	14,840,944	4,216,592
Securities Available for Sale at Fair Value	132,212,410	108,755,172
Inventory of Manufactured Homes	17,493,173	17,424,574
Notes and Other Receivables, net	24,366,221	20,323,191
Prepaid Expenses and Other Assets	5,635,719	4,497,937
Land Development Costs	12,543,001	10,279,992
Total Other Assets	207,091,468	165,497,458
TOTAL ASSETS	785,795,154	680,444,818
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	312,808,180	293,025,592
Other Liabilities:
Accounts Payable	3,709,828	2,962,037
Loans Payable, net of unamortized debt issuance costs	41,489,139	58,285,385
Accrued Liabilities and Deposits	5,078,658	4,820,142
Tenant Security Deposits	4,970,030	4,319,695
Total Other Liabilities	55,247,655	70,387,259
Total Liabilities	368,055,835	363,412,851
Commitments and Contingencies
Shareholders' Equity:
Series A - 8.25% Cumulative Redeemable Preferred Stock, par value $0.10 per share; -0- and 3,663,800 shares authorized, issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	0	91,595,000
Series B - 8.0% Cumulative Redeemable Preferred Stock, par value $0.10 per share; 4,000,000 shares authorized; 3,801,200 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	95,030,000	95,030,000
Series C - 6.75% Cumulative Redeemable Preferred Stock, par value $0.10 per share; 5,750,000 and -0- shares authorized, issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	143,750,000	0
Common Stock - $0.10 par value per share; 113,663,800 and 75,000,000 shares authorized, 34,686,428 and 29,388,811 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	3,468,643	2,938,881
Excess Stock - $0.10 par value per share; 3,000,000 shares authorized; no shares issued or outstanding as of September 30, 2017 and December 31, 2016, respectively	0	0
Additional Paid-In Capital	163,326,714	111,422,691
Accumulated Other Comprehensive Income	12,831,755	16,713,188
Accumulated Deficit	(667,793)	(667,793)
Total Shareholders' Equity	417,739,319	317,031,967
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 785,795,154	$ 680,444,818