Investment Properties and Properties Held For Sale (Tables)

6 Months Ended

Jun. 30, 2012

Investment Properties and Properties Held For Sale [Abstract]

Components of properties held for sale

	June 30, 2012			December 31, 2011
Balance Sheet:
Land	$	157,360		$	157,360
Buildings, net		26,631			26,631
Rents and other receivables		424			686
Utilities security deposit		9,260			9,260
Prepaid insurance		212			1,593
Accounts payable and accrued expenses		(731	)		(2,295	)
Property tax payable		(7,571	)		(7,571	)
Properties held for sale	$	185,585		$	185,664

Components of discontinued operations included in the condensed statement of income (loss)

	Three Month Period ended June 30, 2012			Three Month Period ended June 30, 2011			Six Month Period ended June 30, 2012			Six Month Period ended June 30, 2011
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Statements of Income (Loss):
Revenues:
Rental income	$	0		$	20,435		$	0		$	52,484
Other income		2,500			1,176			2,500			1,176
Total Revenues		2,500			21,611			2,500			53,660
Expenses:
Insurance expense		690			0			1,381			0
Professional services		480			316			2,040			1,058
Property tax expense		3,786			3,312			7,571			3,312
Other property expenses		7,063			0			14,429			0
Property impairment write-downs		0			540,118			0			540,118
Depreciation		0			5,737			0			11,473
Amortization		0			8,633			0			10,380
Total Expenses		12,019			558,116			25,421			566,341
Net Loss from Discontinued Operations	$	(9,519	)	$	(536,505	)	$	(22,921	)	$	(512,681	)