Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Investment Property and Equipment
Land	$ 61,239,644	$ 47,476,314
Site and Land Improvements	463,242,075	398,776,390
Buildings and Improvements	22,963,926	21,101,836
Rental Homes and Accessories	216,992,988	172,862,227
Total Investment Property	764,438,633	640,216,767
Equipment and Vehicles	16,874,760	14,986,196
Total Investment Property and Equipment	781,313,393	655,202,963
Accumulated Depreciation	(166,444,512)	(140,255,603)
Net Investment Property and Equipment	614,868,881	514,947,360
Other Assets
Cash and Cash Equivalents	23,242,090	4,216,592
Securities Available for Sale at Fair Value	132,964,276	108,755,172
Inventory of Manufactured Homes	17,569,365	17,424,574
Notes and Other Receivables, net	25,451,053	20,323,191
Prepaid Expenses and Other Assets	3,457,083	4,497,937
Land Development Costs	6,328,578	10,279,992
Total Other Assets	209,012,445	165,497,458
TOTAL ASSETS	823,881,326	680,444,818
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	304,895,117	293,025,592
Other Liabilities:
Accounts Payable	2,960,739	2,962,037
Loans Payable, net of unamortized debt issuance costs	84,704,487	58,285,385
Accrued Liabilities and Deposits	4,977,886	4,820,142
Tenant Security Deposits	5,127,633	4,319,695
Total Other Liabilities	97,770,745	70,387,259
Total Liabilities	402,665,862	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 December 31, 2017 and 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 December 31, 2017 and 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 December 31, 2017 and 2016, respectively	143,750,000	0
Common Stock - $0.10 par value per share, 113,663,800 and 75,000,000 shares authorized; 35,488,068 and 29,388,811 shares issued and outstanding as of December 31, 2017 and 2016, respectively	3,548,807	2,938,881
Excess Stock - $0.10 par value per share, 3,000,000 shares authorized; no shares issued or outstanding as of December 31, 2017 and 2016, respectively	0	0
Additional Paid-In Capital	168,034,868	111,422,691
Accumulated Other Comprehensive Income	11,519,582	16,713,188
Accumulated Deficit	(667,793)	(667,793)
Total Shareholders' Equity	421,215,464	317,031,967
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 823,881,326	$ 680,444,818