Investment Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Real Estate [Abstract]

Schedule of Estimated Fair Value of Assets Acquired

The following table summarizes our purchase price allocation for the assets acquired for the years ended December 31, 2018 and 2017, respectively:

	2018 Acquisitions		2017 Acquisitions
Assets Acquired:
Land	$	6,463,100	$	13,601,000
Depreciable Property		53,206,300		46,416,000
Notes Receivable and Other		835,400		4,070,000
Total Assets Acquired	$	60,504,800	$	64,087,000

Schedule of Community Net Operating Income and Net Income (Loss) Acquired

Total Income, Community Net Operating Income (“Community NOI”)* and Net Income (Loss) for communities acquired in 2018 and 2017, which are included in our Consolidated Statements of Income (Loss) for the years ended December 31, 2018 and 2017, are as follows:

	2018 Acquisitions			2017 Acquisitions
	2018			2018		2017
Total Income	$	1,634,307		$	8,618,471	$	4,732,307
Community NOI *	$	932,017		$	4,572,510	$	2,398,652
Net Income (Loss)	$	(311,227	)	$	394,179	$	211,468

*Community NOI is defined as rental and related income less community operating expenses.

Summary of Accumulated Depreciation by Major Classes of Assets

The following is a summary of accumulated depreciation by major classes of assets:

	December 31, 2018		December 31, 2017
Site and Land Improvements	$	132,121,312	$	114,617,282
Buildings and Improvements		6,689,648		5,779,146
Rental Homes and Accessories		44,337,715		33,621,420
Equipment and Vehicles		14,059,688		12,426,664
Total Accumulated Depreciation	$	197,208,363	$	166,444,512