Loans and Mortgages Payable (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Aggregate Principal Payments of All Loans Payable Including Credit Facility

The aggregate principal payments of all loans payable, including the Credit Facility, are scheduled as follows:

Year Ended December 31,
2018	$	2,776,329
2019		4,506,895
2020		39,526,583
2021		420,131
2022		236,217
Thereafter		37,299,669
Total Loans Payable		84,765,824
Unamortized Debt Issuance Costs		(61,337	)
Total Loans Payable, net of Unamortized Debt Issuance Costs	$	84,704,487

Summary of Mortgages Payable

The following is a summary of mortgages payable at December 31, 2017 and 2016:

	At December 31, 2017				Balance at December 31,
Property	Due Date	Interest Rate			2017			2016
Allentown	10/01/25		4.06	%	$	13,390,559		$	13,637,719
Brookview Village	04/01/25		3.92	%		2,778,698			2,832,889
Candlewick Court	09/01/25		4.10	%		4,468,826			4,551,134
Catalina	08/19/25		4.20	%		5,533,771			5,739,657
Cedarcrest	04/01/25		3.71	%		12,024,840			12,268,266
Clinton Mobile Home Resort	10/01/25		4.06	%		3,514,421			3,579,289
Cranberry Village	04/01/25		3.92	%		7,620,974			7,769,600
D & R Village	03/01/25		3.85	%		7,685,346			7,837,828
Fairview Manor	11/01/26		3.85	%		16,010,749			16,299,292
Forest Park Village	09/01/25		4.10	%		8,332,848			8,486,324
Hayden Heights	04/01/25		3.92	%		2,094,009			2,134,846
Heather Highlands	08/28/18		Prime + 1.0	%		16,606			354,529
Highland Estates	06/01/27		4.12	%		16,640,165			9,035,246
Holiday Village	09/01/25		4.10	%		7,929,646			8,075,696
Holiday Village- IN	11/01/25		3.96	%		8,514,837			8,674,151
Holly Acres Estates	10/05/21		6.50	%		2,194,312			2,228,629
Kinnebrook Village	04/01/25		3.92	%		4,048,226			4,127,176
Lake Sherman Village	09/01/25		4.10	%		5,510,432			5,611,924
Olmsted Falls	04/01/25		3.98	%		2,093,269			2,133,656
Oxford Village	01/01/20		5.94	%		6,751,511			6,963,586
Shady Hills	04/01/25		3.92	%		4,992,527			5,089,892
Somerset Estates and Whispering Pines	02/26/19		4.89	%		217,770			395,886
Springfield Meadows	10/06/25		4.83	%		3,141,199			3,191,381
Suburban Estates	10/01/25		4.06	%		5,583,084			5,686,136
Sunny Acres	10/01/25		4.06	%		6,214,642			6,329,351
Southwind Village	01/01/20		5.94	%		5,392,911			5,562,311
Trailmont	04/01/25		3.92	%		3,328,351			3,393,262
Twin Oaks	12/01/19		5.75	%		2,415,894			2,494,084
Valley Hills	06/01/26		4.32	%		3,408,438			3,466,014
Waterfalls	06/01/26		4.38	%		4,639,515			4,716,994
Weatherly Estates	04/01/25		3.92	%		8,121,177			8,279,558
Wellington Estates	01/01/23		6.35	%		2,414,621			-0-
Woods Edge	01/07/26		4.30	%		6,728,792			6,969,958
Worthington Arms	09/01/25		4.10	%		9,342,775			9,514,851
Various (2 properties)	02/01/27		4.56	%		14,049,088			-0-
Various (4 properties)	07/01/23		4.975	%		8,079,960			8,226,015
Various (5 properties)	01/01/22		4.25	%		13,749,838			14,072,987
Various (5 properties)	12/06/22		4.75	%		7,154,380			7,294,460
Various (5 properties)	02/01/18		6.83	%		-0-			8,818,862
Various (6 properties)	08/01/27		4.18	%		13,296,207			-0-
Various (11 properties)	08/01/17		LIBOR + 3.0	%		-0-			10,625,352
Various (13 properties)	03/01/23		4.065	%		49,035,572			50,095,192
Total Mortgages Payable						308,460,786			296,563,983
Unamortized Debt Issuance Costs						(3,565,669	)		(3,538,391	)
Total Mortgages Payable, net of Unamortized Debt Issuance Costs					$	304,895,117		$	293,025,592

Schedule of Aggregate Principal Payments of All Mortgages Payable

The aggregate principal payments of all mortgages payable are scheduled as follows:

Year Ended December 31,
2018	$	6,744,175
2019		20,418,685
2020		6,552,999
2021		21,209,912
2022		13,058,727
Thereafter		240,476,288
Total	$	308,460,786