INVESTMENT PROPERTIES and PROPERTY HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2013

The components of property held for sale in the balance sheets as of December 31, 2013 and 2012 are outlined below:


	December 31,		December 31,
	2013		2012
Balance Sheet:
Land	$	0	$	33,991

Components of Discontinued Operations Included in Statements of Income

The components of discontinued operations included in the statements of income for the years ended December 31, 2013, 2012 and 2011 are outlined below:


	December 31,		December 31,			December 31,
	2013		2012			2011
Revenues
Rental Income	$	0	$	0		$	70,417
Other Income		0		2,500			1,204

Total Revenues		0		2,500			71,621

Expenses
Insurance		0		2,555			1,183
General and Administrative		0		0			659
Professional services		0		2,060			3,632
Property tax expense		0		12,546			9,985
Maintenance expense		0		15,745			10,012
Property impairment write-(up) down		0		(142,747	)		494,822
Depreciation		0		0			14,361
Amortization		0		0			10,380
Other expenses		0		3,100			3,850

Total (Income) Expenses		0		(106,741	)		548,884

Net (Income) Loss from Rental Operations	$	0	($	109,241	)	$	477,263
Net (Loss) Gain on Sale of Properties		0		0			(1,227	)

Net Income (Loss) from Discontinued Operations	$	0	$	109,241		($	478,490	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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