Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Investment Property and Equipment
Land	$ 68,157,110	$ 68,154,110
Site and Land Improvements	535,913,016	533,547,154
Buildings and Improvements	25,280,722	25,156,183
Rental Homes and Accessories	262,897,007	254,598,641
Total Investment Property	892,247,855	881,456,088
Equipment and Vehicles	19,108,204	18,791,688
Total Investment Property and Equipment	911,356,059	900,247,776
Accumulated Depreciation	(205,673,494)	(197,208,363)
Net Investment Property and Equipment	705,682,565	703,039,413
Other Assets
Cash and Cash Equivalents	7,347,672	7,433,470
Marketable Securities at Fair Value	108,700,249	99,595,736
Inventory of Manufactured Homes	22,684,571	23,703,322
Notes and Other Receivables, net	32,651,660	31,493,555
Prepaid Expenses and Other Assets	10,388,355	6,195,596
Land Development Costs	12,253,423	9,441,025
Total Other Assets	194,025,930	177,862,704
TOTAL ASSETS	899,708,495	880,902,117
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	329,322,659	331,093,063
Other Liabilities:
Accounts Payable	4,665,854	3,873,445
Loans Payable, net of unamortized debt issuance costs	115,055,477	107,985,353
Accrued Liabilities and Deposits	9,995,464	7,410,055
Tenant Security Deposits	5,974,530	5,842,161
Total Other Liabilities	135,691,325	125,111,014
Total Liabilities	465,013,984	456,204,077
Commitments and Contingencies
Shareholders' Equity:
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 March 31, 2019 and December 31, 2018	95,030,000	95,030,000
Series C - 6.75% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 5,750,000 shares authorized, issued and outstanding as of March 31, 2019 and December 31, 2018	143,750,000	143,750,000
Series D - 6.375% Cumulative Redeemable Preferred Stock, par value $0.10 per share, 2,300,000 shares authorized; 2,000,000 shares issued and outstanding as of March 31, 2019 and December 31, 2018	50,000,000	50,000,000
Common Stock - $0.10 par value per share; 111,363,800 shares authorized; 39,158,261 and 38,320,414 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	3,915,826	3,832,041
Excess Stock - $0.10 par value per share; 3,000,000 shares authorized; no shares issued or outstanding as of March 31, 2019 and December 31, 2018	0	0
Additional Paid-In Capital	167,362,467	157,449,781
Undistributed Income (Accumulated Deficit)	(25,363,782)	(25,363,782)
Total Shareholders' Equity	434,694,511	424,698,040
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 899,708,495	$ 880,902,117