Consolidated Statements of Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
INCOME:
Rental and Related Income	$ 101,801,425	$ 90,679,557	$ 74,762,548
Sales of Manufactured Homes	10,846,494	8,534,272	6,754,123
Total Income	112,647,919	99,213,829	81,516,671
EXPENSES:
Community Operating Expenses	47,846,565	42,638,333	37,049,462
Cost of Sales of Manufactured Homes	8,471,190	6,466,520	5,058,350
Selling Expenses	3,095,155	2,852,405	2,788,360
General and Administrative Expenses	9,645,681	8,004,925	7,345,644
Acquisition Costs	0	79,231	957,219
Depreciation Expense	27,557,746	23,214,100	18,877,511
Total Expenses	96,616,337	83,255,514	72,076,546
OTHER INCOME (EXPENSE):
Interest Income	2,006,880	1,584,585	1,819,567
Dividend Income	8,134,898	6,636,126	4,399,181
Gain on Sales of Securities, net	1,747,528	2,285,301	204,230
Other Income	705,048	504,759	435,816
Interest Expense	(15,876,972)	(15,432,364)	(14,074,446)
Total Other Income (Expense)	(3,282,618)	(4,421,593)	(7,215,652)
Income Before Loss on Sales of Investment Property and Equipment	12,748,964	11,536,722	2,224,473
Loss on Sales of Investment Property and Equipment	(80,930)	(2,163)	(80,268)
Net Income	12,668,034	11,534,559	2,144,205
Less: Preferred Dividends	(16,844,812)	(14,103,432)	(8,267,198)
Less: Redemption of Preferred Stock	(3,502,487)	0	0
Net Loss Attributable to Common Shareholders	$ (7,679,265)	$ (2,568,873)	$ (6,122,993)
Basic and Diluted Income (Loss) Per Share:
Net Income	$ 0.39	$ 0.41	$ 0.08
Less: Preferred Dividends	$ (0.52)	$ (0.51)	$ (0.32)
Less: Redemption of Preferred Stock	(0.11)	0	0
Net Loss Attributable to Common Shareholders	$ (0.24)	$ (0.10)	$ (0.24)
Weighted Average Common Shares Outstanding:
Basic and Diluted	32,675,650	27,808,895	25,932,626