Manufactured Housing Properties (MHPC) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 06, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	MANUFACTURED HOUSING PROPERTIES INC.
Entity Central Index Key	0001277998
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,395,480
Entity File Number	000-51229
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	NV

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Investment Property
Land	$ 11,378,818	$ 10,885,938
Site and Land Improvements	21,845,771	17,466,801
Buildings and Improvements	6,791,371	6,214,725
Total Investment Property	40,015,960	34,567,464
Accumulated Depreciation & Amortization	(2,186,493)	(1,394,958)
Net Investment Property	37,829,467	33,172,506
Cash and Cash Equivalents, including restricted cash of $349,927 and $316,035 respectively	2,997,819	4,146,411
Accounts Receivable, net	56,140	31,881
Other Assets	483,694	557,012
Total Assets	41,367,120	37,907,810
Liabilities
Accounts Payable	216,568	227,406
Notes Payable, net of $868,297 and $633,629 debt discount	32,162,886	28,359,247
Note Payable - Related Party	621,061	797,906
Note Payable - Line of Credit Related Party	816,500	1,730,000
Accrued Liabilities	671,867	551,481
Tenant Security Deposits	349,927	316,035
Total Liabilities	34,838,809	31,982,075
Commitments and Contingencies (See note 5)
Stockholders' deficit
Common Stock, par value $0.01 per share; 200,000,000 shares authorized; 12,394,180 and 12,336,080 shares are issued and outstanding as of June 30, 2020 and December 31, 2019, respectively	123,942	123,361
Additional Paid in Capital	(127,339)	759,849
Accumulated Deficit	(4,440,912)	(3,840,085)
Total Stockholders' Deficit	(4,444,309)	(2,956,875)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	41,367,120	37,907,810
Series A Cumulative Convertible Preferred Stock
Liabilities
Redeemable Preferred Stock - subject to redemption	5,145,250	4,909,000
Series B Cumulative Redeemable Preferred Stock
Liabilities
Redeemable Preferred Stock - subject to redemption	$ 5,827,370	$ 3,973,610

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Restricted cash	$ 349,927	$ 316,035
Notes Payable, net	$ 868,297	$ 633,629
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Authorized	200,000,000	200,000,000
Common Stock, Issued	12,394,180	12,336,080
Common Stock, Outstanding	12,394,180	12,336,080
Series A Cumulative Redeemable Convertible Preferred Stock
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Authorized	4,000,000	4,000,000
Preferred Stock, Issued	1,890,000	1,890,000
Preferred Stock, Outstanding	1,890,000	1,890,000
Preferred Stock, Redemption Value	$ 7,087,500
Series B Cumulative Redeemable Preferred Stock
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Authorized	1,000,000	1,000,000
Preferred Stock, Issued	577,005	409,722
Preferred Stock, Outstanding	577,005	409,722
Preferred Stock, Redemption Value	$ 8,655,075

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue
Rental and related income	$ 1,503,596	$ 644,918	$ 2,806,008	$ 1,169,292
Management fees, related party	4,538	3,284	8,263	15,284
Total revenues	1,508,134	648,202	2,814,271	1,184,576
Community operating expenses
Repair and maintenance	74,925	51,937	141,495	95,227
Real estate taxes	93,088	44,921	152,278	68,482
Utilities	110,095	49,082	251,556	80,675
Insurance	46,600	19,658	88,501	25,929
General and administrative expense	46,100	65,516	251,670	160,622
Total community operating expenses	370,808	231,114	885,500	430,935
Corporate payroll and overhead	436,394	326,271	753,837	462,234
Depreciation and amortization expense	482,259	157,321	872,252	292,247
Interest expense	465,335	287,762	903,509	520,468
Refinancing costs				552,272
Total expenses	1,754,796	1,002,468	3,415,098	2,258,156
Loss before provision for income taxes	(246,662)	(354,266)	(600,827)	(1,073,580)
Provision for income taxes
Net Loss	(246,662)	(354,266)	(600,827)	(1,073,580)
Preferred stock dividends
Series A preferred	97,720	19,667	192,220	24,334
Series A preferred put option value accretion	118,125	23,750	236,250	23,750
Series B preferred	102,879		195,875
Series B preferred put option value accretion	170,659		298,027
Total preferred stock dividends	489,383	43,417	922,372	48,084
Net loss attributable to common stockholders	$ (736,045)	$ (397,683)	$ (1,523,199)	$ (1,121,664)
Weighted average shares - basic and fully diluted	12,376,289	12,886,564	12,356,184	12,708,157
Net loss per share - basic	$ (0.06)	$ (0.03)	$ (0.12)	$ (0.09)
Net loss per share - fully diluted	$ (0.06)	$ (0.03)	$ (0.12)	$ (0.09)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Deficit - USD ($)	COMMON STOCK	ADDITIONAL PAID IN CAPITAL	NON CONTROLLING INTEREST	ACCUMULATED DEFICIT	Total
Beginning balance at Dec. 31, 2018	$ 103,500	$ 451,567	$ 293,241	$ (1,801,338)	$ (953,030)
Beginning balance, shares at Dec. 31, 2018	10,350,062
Stock option expense		8			8
Common Stock issuance for acquisition of minority interest	$ 20,000	273,241	(293,241)
Common Stock issuance for acquisition of minority interest, shares	2,000,000
Common Stock issuance for line of credit	$ 5,450	299,750			299,750
Common Stock issuance for line of credit, shares	545,000
Common stock issuance for service		24,500			24,500
Imputed interest		14,004			14,004
Preferred shares Series A dividends		(4,667)			(4,667)
Net income (loss)				(719,314)	(719,314)
Ending balance at Mar. 31, 2019	$ 128,950	1,058,403		(2,520,652)	(1,333,299)
Ending balance, shares at Mar. 31, 2019	12,895,062
Stock option expense		8			8
Common Stock issuance for line of credit	$ 2,545	66,172			66,172
Common Stock issuance for line of credit, shares	254,506
Purchase Treasury Common Stock	$ (3,500)	(61,011)			(61,011)
Purchase Treasury Common Stock, shares	(350,000)
Imputed interest		13,857			13,857
Preferred shares Series A put option value accretion		(23,750)			(23,750)
Preferred shares Series A dividends		(19,667)			(19,667)
Net income (loss)				(354,266)	(354,266)
Ending balance at Jun. 30, 2019	$ 127,995	1,034,012		(2,874,918)	(1,792,911)
Ending balance, shares at Jun. 30, 2019	12,799,568
Beginning balance at Dec. 31, 2019	$ 123,361	759,849		(3,840,085)	(2,956,875)
Beginning balance, shares at Dec. 31, 2019	12,336,080
Stock option expense		539			539
Common Stock issuance to preferred share holders	$ 60	1,560			1,620
Common Stock issuance to preferred share holders, shares	6,000
Preferred shares Series A put option value accretion		(118,125)			(118,125)
Preferred shares Series A dividends		(94,500)			(94,500)
Preferred shares Series B put option value accretion		(127,368)			(127,368)
Preferred shares Series B dividends		(92,996)			(92,996)
Net income (loss)				(354,165)	(354,165)
Ending balance at Mar. 31, 2020	$ 123,421	328,959		(4,194,250)	(3,741,870)
Ending balance, shares at Mar. 31, 2020	12,342,080
Stock option expense		539			539
Common Stock issuance to preferred share holders	$ 21	546			567
Common Stock issuance to preferred share holders, shares	2,100
Common shares issued to board of directors	$ 500	32,000			32,500
Common shares issued to board of directors, shares	50,000
Preferred shares Series A put option value accretion		(118,125)			(118,125)
Preferred shares Series A dividends		(97,720)			(97,720)
Preferred shares Series B put option value accretion		(170,659)			(170,659)
Preferred shares Series B dividends		(102,879)			(102,879)
Net income (loss)				(246,662)	(246,662)
Ending balance at Jun. 30, 2020	$ 123,942	$ (127,339)		$ (4,440,912)	$ (4,444,309)
Ending balance, shares at Jun. 30, 2020	12,394,180

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Net Loss	$ (600,827)	$ (1,073,580)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
In-kind contribution of interest		27,861
Provision for bad debts	3,802	17,620
Stock option expense	1,078	16
Stock compensation expense	32,500	329,700
Write off mortgage cost		68,195
Depreciation and amortization	872,252	292,247
Changes in operating assets and liabilities:
Accounts receivable	(28,061)	(23,633)
Other assets	73,318	(228,509)
Accounts payable	(10,838)	39,277
Accrued liabilities	121,563	(197,756)
Tenant security deposits	33,892	(5,045)
Net Cash Provided by (Used in) Operating Activities	498,679	(753,607)
Cash Flows from Investing Activities:
Capital Improvements	(298,818)
Purchases of investment properties	(988,000)	(4,483,648)
Net Cash Used in Investing Activities	(1,286,818)	(4,483,648)
Cash Flows from Financing Activities:
Proceeds from related - party note		7,076
Repayment of note payable - line of credit related party	(913,500)	(2,754,550)
Proceeds from note payable - line of credit related party		1,270,000
Proceeds from note payables	418,134	14,281,076
Repayment of notes payable	(516,195)	(7,824,367)
Proceeds from issuance of preferred stock	1,555,732	1,425,000
Proceeds from issuance of common stock		68,717
Purchase of treasury stock		(64,511)
Fees in connection of preferred stock issuance	(117,098)	(227,461)
Repayment of note payable - related party	(176,845)	(19,140)
Payment of mortgage costs recorded as debt discount	(222,586)
Preferred shares dividends	(388,095)	(24,334)
Net Cash Provided by (Used in) Financing Activities	(360,453)	6,137,506
Net Change in cash, cash equivalents and restricted cash	(1,148,592)	900,251
Cash, cash equivalents and restricted cash at beginning of the period	4,146,411	458,271
Cash, cash equivalents and restricted cash at end of the period	2,997,819	1,358,522
Cash paid for:
Income Taxes
Interest	832,554	520,468
Non-Cash Investing and Financing Activities
Purchase of Minority Interest in Pecan Grove		537,562
Notes related to acquisitions	4,150,000
Non-cash Preferred stock accretion	$ 534,277	$ 23,750

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Cash, Cash Equivalents and Restricted Cash) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
End of period
Cash and cash equivalents	$ 2,647,892	$ 1,232,418
Restricted cash	349,927	126,104
Cash, cash equivalents and restricted cash at end of the period	2,997,819	1,358,522
Beginning of period
Cash and cash equivalents	3,830,376	327,122
Restricted cash	316,035	131,149
Cash, cash equivalents and restricted cash at beginning of the period	$ 4,146,411	$ 458,271

Summary of Significant Accounti

Summary of Significant Accounting Policies and Organization	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION Organization Manufactured Housing Properties Inc. (the "Company") is a Nevada corporation whose principal activities are to acquire, own, and operate manufactured housing communities. Basis of Presentation The Company prepares its consolidated financial statements under the accrual basis of accounting, in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They do not include all information and footnotes required by GAAP for complete financial statements. The December 31, 2019 consolidated balance sheet data were derived from audited financial statements but do not include all disclosures required by GAAP. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements for the year ended December 31, 2019 included in the Company's Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on April 14, 2020. The interim unaudited condensed consolidated financial statements should be read in conjunction with those consolidated financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair statement of the financial statements, consisting solely of normal recurring adjustments, have been made. Operating results for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The Company's formation of all subsidiaries and date of consolidation are as follows: Name of Subsidiary State of Formation Date of Formation Ownership Pecan Grove MHP LLC North Carolina October 12, 2016 100%* Butternut MHP Land LLC Delaware March 1, 2017 100% Azalea MHP LLC North Carolina October 25, 2017 100% Holly Faye MHP LLC North Carolina October 25, 2017 100% Chatham Pines MHP LLC North Carolina October 31, 2017 100% Maple Hills MHP LLC North Carolina October 31, 2017 100% Lakeview MHP LLC South Carolina November 1, 2017 100% MHP Pursuits LLC North Carolina January 31, 2019 100% Mobile Home Rentals LLC North Carolina September 30, 2016 100% Hunt Club MHP LLC South Carolina March 8, 2019 100% B&D MHP LLC South Carolina April 4, 2019 100% Crestview MHP LLC North Carolina June 28, 2019 100% Springlake MHP LLC Georgia October 10, 2019 100% ARC MHP LLC South Carolina November 13, 2019 100% Countryside MHP LLC South Carolina March 12, 2020 100% Evergreen MHP LLC Tennessee March 17, 2020 100% * The Company originally acquired a 75% interest. In January 2019, the Company acquired the remaining 25% interest from a related party. All intercompany transactions and balances have been eliminated in consolidation. The Company does not have a majority or minority interest in any other company, either consolidated or unconsolidated. Revenue Recognition The Company's revenues primarily consist of rental revenues and fee and other income. The Company has the following revenue sources and revenue recognition policies: ● Rental revenues include revenues from the leasing of land lot or a combination of both, the mobile home and land at our properties to tenants. o Revenues from the leasing of land lot or a combination of both, the mobile home and land at the Company's properties to tenants include (i) lease components, including land lot or a combination of both, the mobile home and land, and (ii) reimbursement of utilities and account for the components as a single lease component in accordance with Accounting Standards Codification ("ASC") 842. o Revenues derived from fixed lease payments are recognized on a straight-line basis over the non-cancelable period of the lease. The Company commences rental revenue recognition when the underlying asset is available for use by the lessee. Revenue derived from the reimbursement of utilities are generally recognized in the same period as the related expenses are incurred. The Company's leases are month-to-month. ● Fee and other income include late fees, violation fees and other revenue arising from contractual agreements with third parties. This revenue is recognized as the services are transferred in accordance with ASC 606. ● Mobile home sale revenues are recognized in accordance with Topic 606 of the Financial Accounting Standards Board ("FASB") ASC for revenue recognition. On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2014-09, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The Company considers revenue realized or realizable and earned when all the five following criteria are met: (1) identification of the contract with a customer, (2) identification of the performance obligations in the contract, (3) determination of the transaction price, (4) allocation of the transaction price to the performance obligations in the contract, and (5) recognition of revenue when (or as) we satisfy a performance obligation. Under ASC 842, the Company must assess on an individual lease basis whether it is probable that the Company will collect the future lease payments. The Company considers the tenant's payment history and current credit status when assessing collectability. When collectability is not deemed probable, the Company will write-off the tenant's receivables, including straight-line rent receivable, and limit lease income to cash received. Accounts Receivable Accounts receivable consist primarily of amounts currently due from residents. Accounts receivables are reported in the balance sheet at outstanding principal adjusted for any charge-offs and the allowance for losses. The Company records an allowance for bad debt when receivables are over 90 days old. Acquisitions The Company accounts for acquisitions as asset acquisitions in accordance with ASC 805, "Business Combinations," and allocates the purchase price of the property based upon the fair value of the assets acquired, which generally consist of land, site and land improvements, buildings and improvements and rental homes. The Company allocates the purchase price of an acquired property generally determined by internal evaluation as well as third-party appraisal of the property obtained in conjunction with the purchase. Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding plus the weighted average number of net shares that would be issued upon exercise of stock options pursuant to the treasury stock method. Total dilutive securities outstanding as of June 30, 2020 and 2019 totaled 656,175 and 541,334 stock options, respectively, 1,890,000 and 570,000 convertible Preferred Series A shares, respectively, which are convertible into common shares at $2.50 per share for a total of 756,000 and 228,000, respectively, which are not included in dilutive loss per share as the effect would be anti-dilutive. Use of Estimates The presentation of financial statements in conformity with GAAP requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Investment Property and Depreciation Investment property which consists of property and equipment are carried at cost. Depreciation for Sites and Building is computed principally on the straight-line method over the estimated useful lives of the assets (ranging from 15 to 25 years). Depreciation of Improvements to Sites and Buildings, Rental Homes and Equipment and Vehicles is computed principally on the straight-line method over the estimated useful lives of the assets (ranging from 3 to 25 years). Land Development Costs are not depreciated until they are put in use, at which time they are capitalized as Sites and Land Improvements. Interest Expense pertaining to Land Development Costs are capitalized. Maintenance and Repairs are charged to expense as incurred and improvements are capitalized. The costs and related accumulated depreciation of property sold or otherwise disposed of are removed from the financial statement and any gain or loss is reflected in the current period's results of operations. Impairment Policy The Company applies FASB ASC 360-10, "Property, Plant & Equipment," to measure impairment in real estate investments. Rental properties are individually evaluated for impairment when conditions exist which may indicate that it is probable that the sum of expected future cash flows (on an undiscounted basis without interest) from a rental property is less than the carrying value under its historical net cost basis. These expected future cash flows consider factors such as future operating income, trends and prospects as well as the effects of leasing demand, competition and other factors. Upon determination that a permanent impairment has occurred, rental properties are reduced to their fair value. For properties to be disposed of, an impairment loss is recognized when the fair value of the property, less the estimated cost to sell, is less than the carrying amount of the property measured at the time there is a commitment to sell the property and/or it is actively being marketed for sale. A property to be disposed of is reported at the lower of its carrying amount or its estimated fair value, less its cost to sell. Subsequent to the date that a property is held for disposition, depreciation expense is not recorded. There was no impairment during the six months ended June 30, 2020 and 2019. Cash and Cash Equivalents The Company considers all highly liquid financial instruments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains cash balances at banks and deposits at times may exceed federally insured limits. Management believes that the financial institutions that hold the Company's cash are financially secure and, accordingly, minimal credit risk exists. At June 30, 2020 and December 31, 2019, the Company had approximately $1,417,000 and $2,553,000 above the FDIC-insured limit, respectively, including restricted cash held for tenant security deposits of $349,927 and $316,035, respectively. Stock Based Compensation All stock based payments to employees, nonemployee consultants, and to nonemployee directors for their services as directors, including any grants of restricted stock and stock options, are measured at fair value on the grant date and recognized in the statements of operations as compensation or other expense over the relevant service period in accordance with FASB ASC Topic 718. Stock based payments to nonemployees are recognized as an expense over the period of performance. Such payments are measured at fair value at the earlier of the date a performance commitment is reached or the date performance is completed. In addition, for awards that vest immediately and are nonforfeitable the measurement date is the date the award is issued. The Company recorded stock option expense of $1,078 and $16 during the six months ended June 30, 2020 and 2019, respectively. Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB ASC for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB ASC to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. Reclassifications Certain amounts in the prior period presentation have been reclassified to conform with the current presentation. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that the Company believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties, if any, with income tax expense in the accompanying consolidated statement of operations. As of June 30, 2020, and December 31, 2019, there were no such accrued interest or penalties. Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires that entities use a new forward looking "expected loss" model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2022. The Company is currently evaluating the potential impact this standard may have on the consolidated financial statements. In March 2019, the FASB issued ASU No. 2019-01, "Leases (Topic 842): Codification Improvements." ASU 2019-01 aligns the guidance for fair value of the underlying asset by lessors with existing guidance in Topic 842. The ASU requires that the fair value of the underlying asset at lease commencement is its cost reflecting in volume or trade discounts that may apply. However, if there has been a significant lapse of time between the date the asset was acquired and the lease commencement date, the definition of fair value as outlined in Topic 820 should be applied. In addition, the ASU exempts both lessees and lessors from having to provide certain interim disclosures in the fiscal year in which a company adopts the new leases standard. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company has evaluated the impact this standard had on the consolidated financial statements and determined that it had no impact on the consolidated financial statements. Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed consolidated financial statements. Impact of Coronavirus Pandemic In December 2019, a novel strain of coronavirus was reported to have surfaced in Wuhan, China. The virus has since spread to over 150 countries and every state in the United States. On March 11, 2020, the World Health Organization declared the outbreak a pandemic, and on March 13, 2020, the United States declared a national emergency. Most states and cities, including where the Company's properties are located, have reacted by instituting quarantines, restrictions on travel, "stay at home" rules and restrictions on the types of businesses that may continue to operate, as well as guidance in response to the pandemic and the need to contain it. The Company is carefully reviewing all rules, regulations, and orders and responding accordingly. The Company has taken steps to take care of its employees, including providing the ability for employees to work remotely and implementing strategies to support appropriate social distancing techniques for those employees who are not able to work remotely. The Company has also taken precautions with regard to employee, facility and office hygiene as well as implementing significant travel restrictions. The Company is also assessing its business continuity plans for all business units in the context of the pandemic. This is a rapidly evolving situation, and the Company will continue to monitor and mitigate developments affecting its workforce, its tenants, and the public at large to the extent the Company is able to do so. The rules and restrictions put in place have had a negative impact on the economy and business activity and may adversely impact the ability of the Company's tenants, many of whom may be restricted in their ability to work, to pay their rent as and when due. In addition, the Company's property managers may be limited in their ability to properly maintain the Company's properties. Enforcing the Company's rights as landlord against tenants who fail to pay rent or otherwise do not comply with the terms of their leases may not be possible as many jurisdictions, including those where are properties are located, have established rules and/or regulations preventing us from evicting tenants for certain periods in response to the pandemic. If the Company is unable to enforce its rights as landlords, our business would be materially affected. If the current pace of the pandemic cannot be slowed and the spread of the virus is not contained, the Company's business operations could be further delayed or interrupted. The Company expects that government and health authorities may announce new or extend existing restrictions, which could require the Company to make further adjustments to its operations in order to comply with any such restrictions. The duration of any business disruption cannot be reasonably estimated at this time but may materially affect the Company's ability to operate its business and result in additional costs. The extent to which the pandemic may impact the Company's results will depend on future developments, which are highly uncertain and cannot be predicted as of the date hereof, including new information that may emerge concerning the severity of the pandemic and steps taken to contain the pandemic or treat its impact, among others. Nevertheless, the pandemic and the current financial, economic and capital markets environment present material uncertainty and risk with respect to the Company's performance, financial condition, results of operations and cash flows.

Revision of Prior Year Immateri

Revision of Prior Year Immaterial Misstatement	6 Months Ended
	Jun. 30, 2020
Revision of Prior Year Immaterial Misstatement [Abstract]
Revision of Prior Year Immaterial Misstatement	NOTE 2 – Revision of Prior Year Immaterial Misstatement During the six months ended June 30, 2020, the Company identified a certain error in recording our minority interest buyout for Pecan Grove during the first quarter of 2019. This error resulted in decreasing our land Investment Property and Equity by $244,321 and had no impact on our income statements. The Company assessed the materiality of this error considering both qualitative and quantitative factors and determined that for both the quarter and fiscal year ended December 31, 2019, the error was immaterial. The Company has decided to correct this error as revisions to our previously issued financial statements and will adjust the Form 10-K when filed in succeeding periods of this fiscal year. The table below present the impact of the revision in the Company's condensed consolidated financial statements. December 31, 2019 As previously reported Adjustment As Revised Balance Sheet / Statement of Changes in Stockholders' Equity Investment Property Land $ 11,130,259 $ (244,321 ) $ 10,885,938 Total Investment Property 34,811,785 (244,321 ) 34,567,464 Net Investment Property 33,416,827 (244,321 ) 33,172,506 Total Assets 38,152,131 (244,321 ) 37,907,810 Additional Paid in Capital 1,004,170 (244,321 ) 759,849 Total Stockholders' Deficit (2,712,554 ) (244,321 ) (2,956,875 ) Total Liabilities and Stockholders' Deficit $ 38,152,131 $ (244,321 ) $ 37,907,810 The unaudited condensed consolidated income statement and statement of cash flows are not presented because there is no impact to these statements.

Investment Property

Investment Property	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
INVESTMENT PROPERTY	NOTE 3 – INVESTMENT PROPERTY Investment Property consists of the following as of: June 30, 2020 December 31, Investment Property Land $ 11,378,818 $ 10,885,938 Site and Land Improvements 21,845,771 17,466,801 Buildings and Improvements 6,791,371 6,214,725 Total Investment Property 40,015,960 34,567,464 Less: accumulated depreciation and amortization (2,186,493 ) (1,394,958 ) Net Investment Property $ 37,829,467 $ 33,172,506 Depreciation and amortization expense totaled $482,259 and $157,321 for the three months ended June 30, 2020 and 2019, respectively, and $872,252 and $292,247 for the six months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2019, the Company acquired the 25% minority interest in Pecan Grove MHP LLC. The Company also acquired two manufactured housing communities and accounted for them as asset acquisitions during the six months ended June 30, 2020 totaling $5,310,767 (See note 8).

Promissory Notes

Promissory Notes	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
PROMISSORY NOTES	NOTE 4 – PROMISSORY NOTES Promissory Notes The Company has issued promissory notes payable to lenders related to the acquisition of its manufactured housing communities. These promissory notes range from 3.3% to 7.0% with 5 to 30 years principal amortization. Two of the promissory notes had an initial 6 months period on interest only payments. The promissory notes are secured by the real estate assets and $7,434,450 for four assets were guaranteed by Raymond M. Gee, the Company's chairman, chief executive officer and owner of the principal stockholder of the Company. In addition, on May 1, 2020, the Company received a $139,300 Payroll Protection Program (the "PPP") loan from the United States Small Business Administration (the "SBA") under provisions of the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act"). The PPP loan has a two-year term and bears interest at a rate of 1.0% per annum. Monthly principal and interest payments are deferred for six months after the date of disbursement. The PPP loan may be prepaid at any time prior to maturity with no prepayment penalties. The PPP loan contains events of default and other provisions customary for a loan of this type. The PPP provides that the loan may be partially or wholly forgiven if the funds are used for certain qualifying expenses as described in the CARES Act. The Company intends to use the proceeds from the PPP loan for qualifying expenses and to apply for forgiveness of the PPP loan in accordance with the terms of the CARES Act. During the six months ended June 30, 2019, the Company refinanced a total of $4,940,750 from current loans payable to $8,241,000 of new notes payable from five of the communities, resulting in an additional loan payable of $3,320,859. The Company used the additional loans payable proceeds from the refinance to retire the related party note payable described below. During the six months ended June 30, 2019, the Company wrote off mortgage costs of $68,195 and capitalized $110,039 of mortgage costs due to the refinancing. On April 1, 2020, the Company refinanced the loans for Butternut MHP Land LLC with the existing lender to increase the loan amount to $1,382,269 and to extend the maturity date to April 10, 2025. In addition, the interest rate was changed to 6% per annum, provided that on April 10, 2023 and thereafter, the interest rate shall be equal to (i) the per annum rate of interest identified as the "Prime Rate" as published in the monthly rates section of the Wall Street Journal plus (ii) 1% per annum, adjusted as the first day of each calendar quarter. The loan, as modified, is secured by the real estate assets of Butternut MHP Land LLC and is guaranteed by the Company and Raymond M. Gee. The Company used the proceeds to extinguish and pay off the Butternut MHP Land LLC Mezz loan. As of June 30, 2020, the Company recorded $222,586 of mortgage cost related to the two acquisitions. The following are terms of these notes: Maturity Date Interest Rate Balance 06/30/20 Balance 12/31/19 Butternut MHP Land LLC 04/10/25 6.000 % $ 1,382,269 $ 1,114,819 Butternut MHP Land LLC Mezz 04/01/27 7.000 % - 280,013 Pecan Grove MHP LLC 02/22/29 5.250 % 3,070,251 3,095,274 Azalea MHP LLC 03/01/29 5.400 % 820,359 835,445 Holly Faye MHP LLC 03/01/29 5.400 % 579,825 574,096 Chatham MHP LLC 04/01/24 5.875 % 1,752,066 1,771,506 Lake View MHP LLC 03/01/29 5.400 % 1,844,936 1,857,266 B&D MHP LLC 04/25/29 5.500 % 1,836,799 1,854,788 Hunt Club MHP LLC 05/01/24 5.750 % 1,431,325 1,447,364 Crestview MHP LLC 07/31/24 5.500 % 4,126,370 4,173,652 Maple MHP LLC 01/01/23 5.125 % 2,652,653 2,688,653 Springlake MHP LLC 11/14/22 3.310 % 4,000,000 4,000,000 ARC MHP LLC 01/01/30 5.500 % 5,249,899 5,300,000 Countryside MHP LLC 03/20/50 5.500 % 3,000,000 - Evergreen MHP LLC 04/01/32 3.990 % 1,145,131 - Manufactured Housing Properties Inc. PPP* 05/01/22 1.000 % 139,300 - Totals note payables 33,031,183 28,992,876 Discount Direct Lender Fees (868,297 ) (633,629 ) Total net of Discount $ 32,162,886 $ 28,359,247 * Manufactured Housing Properties - Payroll Protection Program Loan Related Party Promissory Note On May 8, 2017, the Company issued a promissory note to Metrolina Loan Holdings, LLC ("Metrolina") in the principal amount of $3,000,000. The note is interest only payment based on 8%, and 10% deferred until maturity to be paid with principal balance. The note originally awarded Metrolina 455,000 shares of Common Stock as consideration, which resulted in making Metrolina a related party due to its significant ownership. During the year ended December 31, 2019, the Company paid off the entire balance on the note of $2,754,550 plus interest and amended the agreement to allow for the redeployment of the $3,000,000 available, eliminated the conversion option whereby Metrolina could convert the ratio of total outstanding debt at time of exercise of the option into an amount of newly issued shares of the Company's Common Stock determined by dividing the outstanding indebtedness by $3,000,000 multiplied by 10% with a cap of 864,500 shares. The amendment resulted in issuing an additional 545,000 shares with a fair value of $305,200 for a total of 1,000,000 shares awarded to Metrolina. The note gives Metrolina the right and option to purchase its pro rata share of debt or equity securities issued to maintain up to 10% equity interest in the Company at the most recent price of any equity transaction for seven years from the amendment dated February 26, 2019. This note matures in May of 2023. As of June 30, 2020, and December 31, 2019, the balance on this note was $816,500 and $1,730,000, respectively. During the six months ended June 30, 2020 and 2019, the Company recorded interest expense related to the note totaling $56,441 and $143,338, respectively and $36,028 and $86,238 for the three months ended June 30, 2020 and 2019, respectively. The related party note is guaranteed by Mr. Gee, the Company's Chief Executive Officer. Revolving Promissory Note On October 1, 2017, the Company issued a revolving promissory note to Raymond M. Gee, the Company's chairman and chief executive officer, pursuant to which the Company may borrow up to $1,500,000 from Mr. Gee on a revolving basis for working capital purposes. This note has a five-year term with no annual interest and principal payment is deferred until the maturity date. As of June 30, 2020 and December 31, 2019, the outstanding balance on this note was $621,061 and $797,906, respectively. During the six months ended June 30, 2020 and 2019, the Company recorded imputed interest related to the note of $36,934 and $27,861, respectively, and $17,777 and $13,857 for the three months ended June 30, 2020 and 2019, respectively. Maturities of Long-Term Obligations for Five Years and Beyond The minimum annual principal payments of notes payable at June 30, 2020 by fiscal year were: 2020 (remainder of year) $ 240,973 2021 665,537 2022 4,646,074 2023 3,065,286 2024 7,192,359 Thereafter 17,220,954 Total minimum principal payments $ 33,031,183

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 5 – COMMITMENTS AND CONTINGENCIES From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise that may harm its business. The Company is currently not aware of any such legal proceedings or claims that they believe will have, individually or in the aggregate, a material adverse effect on its business, financial condition or operating results.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Stockholders' deficit
STOCKHOLDERS’ EQUITY	NOTE 6 – STOCKHOLDERS' EQUITY Preferred Stock The Company is authorized to issue up to 10,000,000 shares of preferred stock, $0.01 par value. Series A Preferred Stock On May 8, 2019, the Company filed a certificate of designation with the Nevada Secretary of State pursuant to which the Company designated 4,000,000 shares of its preferred stock as Series A Cumulative Convertible Preferred Stock (the "Series A Preferred Stock"). The Series A Preferred Stock has the following voting powers, designations, preferences and relative rights, qualifications, limitations or restrictions: Ranking Dividend Rate and Payment Dates Liquidation Preference Stockholder Optional Conversion Company Call and Stockholder Put Options Voting Rights As of June 30, 2020, there were 1,890,000 shares of Series A Preferred Stock issued and outstanding. As of June 30, 2020, the Series A Preferred Stock balance was made up of Series A Preferred Stock totaling $4,725,000 and accretion of put options totaling $420,250. As of December 31, 2019, the Series A Preferred Stock balance was made up of Series A Preferred Stock totaling $4,725,000 and accretion of put options totaling $184,000. Series B Preferred Stock On December 2, 2019, the Company filed a certificate of designation with the Nevada Secretary of State pursuant to which the Company designated 1,000,000 shares of its preferred stock as Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock"). The Series B Preferred Stock has the following voting powers, designations, preferences and relative rights, qualifications, limitations or restrictions: Ranking pari passu Dividend Rate and Payment Dates Liquidation Preference Company Call and Stockholder Put Options Voting Rights No Conversion Right On November 1, 2019, the Company launched an offering under Regulation A of Section 3(6) of the Securities Act of 1933, as, amended, for Tier 2 offerings, pursuant to which the Company is offering up to 1,000,000 shares of Series B Preferred Stock at an offering price of $10.00 per share, for a maximum offering amount of $10,000,000. In addition, the Company is offering bonus shares to early investors in this offering, whereby the first 400 investors will receive, in addition to Series B Preferred Stock, 100 shares of Common Stock, regardless of the amount invested, for a total of 40,000 shares of Common Stock. During the six months ended June 30, 2020, the Company sold an aggregate of 167,283 shares of Series B Preferred Stock for total gross proceeds of $1,672,830. After deducting a placement fee and other expenses, the Company received net proceeds of $1,555,732. During the six months ended June 30, 2020 and 2019, the Company recorded a put option value accretion of $298,027 and $0, respectively. As of June 30, 2020, there were 577,005 shares of Series B Preferred Stock issued and outstanding. Common Stock The Company is authorized to issue up to 200,000,000 shares of Common Stock, par value $0.01 per share. As of June 30, 2020, there were 12,394,180 shares of Common Stock issued and outstanding. Stock Issued for Service In November 2018, the Company issued 350,000 shares of Common Stock for services to an investment bank for advisory services with a fair value of $171,500, and $24,500 of that fair value was expensed during the three months ended June 30, 2019. During year ended December 31, 2019, the Company purchased these shares back for a total of $61,837 and canceled the shares due to the termination of the advisory service agreement with the investment bank. In February 2019, the Company issued an additional 545,000 shares of Common Stock for services to Metrolina with a fair value of $305,200. In April 2020, the Company issued 50,000 shares of Common Stock to board members with a value of $32,500. Stock Issued for Cash In June 2019, the Company issued an additional 254,506 shares of Common Stock for cash of $68,717 to Metrolina upon its exercise of its option to purchase additional stock to maintain up to 10% ownership of the Company's Common Stock outstanding. During the six months ended June 30, 2020 and 2019, the Company issued 8,100 and 0 shares of Common Stock, respectively, to early investors in the Regulation A offering, valued at $2,187 and $0, respectively. Stock issued for Acquisition In January 2019, the Company issued 2,000,000 shares of Common Stock to Gvest Real Estate Capital LLC, which is controlled and owned by Mr. Gee, the Company's Chief Executive Officer, to acquire the 25% minority interest in Pecan Grove, which were valued at the historical cost value of $293,241. Equity Incentive Plan In December 2017, the Board of Directors, with the approval of a majority of the stockholders of the Company, adopted the Manufactured Housing Properties Inc. Stock Compensation Plan (the "Plan") which is administered by the Compensation Committee. As of June 30, 2020, there were 656,175 shares granted and 343,825 shares remaining available under the Plan. The Company has issued options to directors and officers under the Plan. One third of the options vest immediately, and two thirds vest in equal annual installments over a two-year period. The Company issued 519,675 shares in December 2017 and 136,500 shares in December 2019. The Company recorded stock option expense of $1,078 and $16 during the six months ended June 30, 2020 and 2019, respectively. The following table summarizes the stock options outstanding as of June 30, 2020: Number of options Weighted average exercise price (per share) Weighted average remaining contractual term Outstanding at December 31, 2019 656,175 $ 0.03 8.7 Granted - - - Exercised - - - Forfeited / cancelled / expired - - - Outstanding at June 30, 2020 656,175 $ 0.03 8.2 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company's closing stock price at fiscal year-end and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options holders exercised their options on June 30, 2020. As of June 30, 2020, there were 519,675 "in-the-money" options with an aggregate intrinsic value of $1,283,597. The following table summarizes information concerning options outstanding as of June 30, 2020. Strike Price Range ($) Outstanding stock options Weighted Weighted Vested stock options Weighted $ 0.01 519,675 8.0 $ 0.01 519,675 $ 0.01 $ 0.27 136,500 10.0 $ 0.27 45,500 $ 0.27 The table below presents the weighted average expected life in years of options granted under the Plan as described above. The risk-free rate of the stock options is based on the U.S. Treasury yield curve in effect at the time of grant, which corresponds with the expected term of the option granted. The fair value of stock options was estimated using the Black Scholes option pricing model with the following assumptions for grants made during the periods indicated. June 30, 2020 December 31, 2019 Stock option assumptions Risk-free interest rate - 0.26 % Expected dividend yield - 0.00 % Expected volatility - 15.17 % Expected life of options (in years) - 10.0

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS On October 1, 2017, the Company issued a revolving promissory note to Raymond M. Gee, the Company's chairman and chief executive officer, pursuant to which the Company may borrow up to $1,500,000 from Mr. Gee on a revolving basis for working capital purposes. This note has a five-year term with no annual interest and principal payment is deferred until the maturity date. As of June 30, 2020 and December 31, 2019, the outstanding balance on this note was $621,061 and $797,906, respectively. During the six months ended June 30, 2020 and 2019, the Company recorded imputed interest related to the note of $36,934 and $27,861, respectively, and $17,777 and $13,857 during the three months ended June 30, 2020 and 2019, respectively. On May 8, 2017, the Company issued a promissory note to Metrolina in the principal amount of $3,000,000. The note is interest only payment based on 8%, and 10% deferred until maturity to be paid with principal balance. The note originally awarded Metrolina 455,000 shares of Common Stock as consideration, which resulted in making Metrolina a related party due to its significant ownership. During the year ended December 31, 2019, the Company paid off the entire balance on the note of $2,754,550 plus interest and amended the agreement to allow for the redeployment of the $3,000,000 available, eliminated the conversion option whereby Metrolina could convert the ratio of total outstanding debt at time of exercise of the option into an amount of newly issued shares of the Company's Common Stock determined by dividing the outstanding indebtedness by $3,000,000 multiplied by 10% with a cap of 864,500 shares. The amendment resulted in issuing an additional 545,000 shares with a fair value of $305,200 for a total of 1,000,000 shares awarded to Metrolina. The note gives Metrolina the right and option to purchase its pro rata share of debt or equity securities issued to maintain up to 10% equity interest in the Company at the most recent price of any equity transaction for seven years from the amendment dated February 26, 2019. This note matures in May of 2023. As of June 30, 2020 and December 31, 2019, the balance on this note was $816,500 and $1,270,000, respectively. During the six months ended June 30, 2020 and 2019, the Company recorded interest expense related to the note totaling $56,441 and $143,338, respectively, and $36,028 and $86,238 during the three months ended June 30, 2020 and 2019, respectively. The related party note is guaranteed by Mr. Gee, the Company's Chief Executive Officer. In January 2019, the Company issued 2,000,000 shares of Common Stock to Gvest Real Estate Capital LLC, an entity controlled by Mr. Gee, the Company's Chief Executive Officer, to acquire the 25% minority interest in Pecan Grove, which were valued at the historical cost value of $293,241. In August 2019, the Company entered into an office lease agreement with Gvest Real Estate Capital LLC for the lease of its offices. The lease is $4,000 per month and is on a month-to-month term. Total rent expense for the six months ended June 30, 2020 and 2019 was $24,000 and $0, respectively, and $12,000 and $0 for the three months ended June 30, 2020 and 2019, respectively. During the three and six months ended June 30, 2020, the Company recorded $4,538 and $8,263, respectively, in revenues related to property management consulting services provided to Gvest Real Estate Capital LLC, compared to $3,284 and $15,284 during the three and six months ended June 30, 2019, respectively. During the six months ended June 30, 2020, Mr. Gee, the Company's Chief Executive Officer, received a $50,000 fee for his personal guarantee on a promissory note relating to a loan for one of the Company's acquisitions, and $70,000 fee for his personal guarantee on a promissory note relating to the refinance of our loans for Butternut MHP Land LLC.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
ACQUISITIONS	NOTE 8 – ACQUISITIONS The Company completed two acquisitions during the six months ended June 30, 2020. These were asset acquisitions from third parties and have been accounted for as asset acquisitions. The acquisition date estimated fair value was determined by third party appraisals. Acquisition Date Name Land Improvements Building Acquisition Cost Total Purchase Price March 2020 Countryside MHP $ 152,880 $ 3,194,245 $ 352,875 $ 21,642 $ 3,721,642 March 2020 Evergreen MHP 340,000 1,111,000 - 138,125 1,589,125 $ 492,880 $ 4,305,245 $ 352,875 $ 159,767 $ 5,310,767 Pro-forma Financial Information The following unaudited pro-forma information presents the combined results of operations for the six months ended June 30, 2020 and 2019 as if the above acquisitions of manufactured housing communities had been completed on January 1, 2020 and 2019. Pro-forma for the six months ended June 30, 2019 includes the five acquisitions during 2019. Six months ended Acquisitions Adjustment Six months ended Total revenue $ 2,814,271 $ 167,618 $ $ 2,981,889 Total expenses 3,415,098 60,297 3,475,395 Depreciation and amortization expense - - 49,445 49,445 Interest expense - - 40,719 40,719 Net income (loss) $ (600,827 ) $ 107,321 (583,670 ) Preferred stock dividends and put option value accretion 922,372 - 922,372 Net loss attributable to common shareholders $ (1,523,199 ) $ 107,321 $ (1,506,042 ) Weighted average - basic and fully diluted $ (0.12 ) Six months ended Acquisitions Adjustment Six months ended Total revenue $ 1,184,576 $ 1,284,470 $ $ 2,469,046 Total expenses 2,258,156 654,781 2,912,937 Depreciation and amortization expense - - 617,049 617,049 Interest expense - - 466,878 466,878 Net income (loss) $ (1,073,580 ) $ 629,689 (1,527,818 ) Preferred stock dividends and put option value accretion 48,084 - 48,084 Net loss attributable to common shareholders $ (1,121,664 ) $ 629,689 $ (1,575,902 ) Weighted average - basic and fully diluted $ (0.12 ) Three months ended June 30, 2019 Consolidated Acquisitions Adjustment Three months ended Total revenue $ 648,202 $ 654,785 $ $ 1,302,987 Total expenses 1,002,468 335,689 1,338,157 Depreciation and amortization expense - - 308,525 308,525 Interest expense - - 233,439 233,439 Net income (loss) $ (354,266 ) $ 319,096 (577,134 ) Preferred stock dividends and put option value accretion 43,417 - 43,417 Net loss attributable to common shareholders $ (397,683 ) $ 319,096 $ (620,551 ) Weighted average - basic and fully diluted $ (0.05 )

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS Loan Payoff On July 7, 2020, the Company paid off the remaining balance of $816,500 on its promissory note due to Metrolina with accrued interest totaling $37,266, and terminated the loan agreement (see Note 4). Series B Preferred Stock On July 30, 2020, the Company completed an additional closing of the Regulation A offering (see Note 6), pursuant to which the Company sold an aggregate of 15,214 shares of Series B Preferred Stock to investors for total gross proceeds of $152,140. After deducting the placement fee, the Company received net proceeds of $141,490. The Company also issued 1,300 shares of Common Stock to additional early investors.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Organization (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Organization	Organization Manufactured Housing Properties Inc. (the "Company") is a Nevada corporation whose principal activities are to acquire, own, and operate manufactured housing communities.
Basis of Presentation	Basis of Presentation The Company prepares its consolidated financial statements under the accrual basis of accounting, in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They do not include all information and footnotes required by GAAP for complete financial statements. The December 31, 2019 consolidated balance sheet data were derived from audited financial statements but do not include all disclosures required by GAAP. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements for the year ended December 31, 2019 included in the Company's Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on April 14, 2020. The interim unaudited condensed consolidated financial statements should be read in conjunction with those consolidated financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair statement of the financial statements, consisting solely of normal recurring adjustments, have been made. Operating results for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The Company's formation of all subsidiaries and date of consolidation are as follows: Name of Subsidiary State of Formation Date of Formation Ownership Pecan Grove MHP LLC North Carolina October 12, 2016 100%* Butternut MHP Land LLC Delaware March 1, 2017 100% Azalea MHP LLC North Carolina October 25, 2017 100% Holly Faye MHP LLC North Carolina October 25, 2017 100% Chatham Pines MHP LLC North Carolina October 31, 2017 100% Maple Hills MHP LLC North Carolina October 31, 2017 100% Lakeview MHP LLC South Carolina November 1, 2017 100% MHP Pursuits LLC North Carolina January 31, 2019 100% Mobile Home Rentals LLC North Carolina September 30, 2016 100% Hunt Club MHP LLC South Carolina March 8, 2019 100% B&D MHP LLC South Carolina April 4, 2019 100% Crestview MHP LLC North Carolina June 28, 2019 100% Springlake MHP LLC Georgia October 10, 2019 100% ARC MHP LLC South Carolina November 13, 2019 100% Countryside MHP LLC South Carolina March 12, 2020 100% Evergreen MHP LLC Tennessee March 17, 2020 100% * The Company originally acquired a 75% interest. In January 2019, the Company acquired the remaining 25% interest from a related party. All intercompany transactions and balances have been eliminated in consolidation. The Company does not have a majority or minority interest in any other company, either consolidated or unconsolidated.
Revenue Recognition	Revenue Recognition The Company's revenues primarily consist of rental revenues and fee and other income. The Company has the following revenue sources and revenue recognition policies: ● Rental revenues include revenues from the leasing of land lot or a combination of both, the mobile home and land at our properties to tenants. o Revenues from the leasing of land lot or a combination of both, the mobile home and land at the Company's properties to tenants include (i) lease components, including land lot or a combination of both, the mobile home and land, and (ii) reimbursement of utilities and account for the components as a single lease component in accordance with Accounting Standards Codification ("ASC") 842. o Revenues derived from fixed lease payments are recognized on a straight-line basis over the non-cancelable period of the lease. The Company commences rental revenue recognition when the underlying asset is available for use by the lessee. Revenue derived from the reimbursement of utilities are generally recognized in the same period as the related expenses are incurred. The Company's leases are month-to-month. ● Fee and other income include late fees, violation fees and other revenue arising from contractual agreements with third parties. This revenue is recognized as the services are transferred in accordance with ASC 606. ● Mobile home sale revenues are recognized in accordance with Topic 606 of the Financial Accounting Standards Board ("FASB") ASC for revenue recognition. On January 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2014-09, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The Company considers revenue realized or realizable and earned when all the five following criteria are met: (1) identification of the contract with a customer, (2) identification of the performance obligations in the contract, (3) determination of the transaction price, (4) allocation of the transaction price to the performance obligations in the contract, and (5) recognition of revenue when (or as) we satisfy a performance obligation. Under ASC 842, the Company must assess on an individual lease basis whether it is probable that the Company will collect the future lease payments. The Company considers the tenant's payment history and current credit status when assessing collectability. When collectability is not deemed probable, the Company will write-off the tenant's receivables, including straight-line rent receivable, and limit lease income to cash received.
Accounts Receivable	Accounts Receivable Accounts receivable consist primarily of amounts currently due from residents. Accounts receivables are reported in the balance sheet at outstanding principal adjusted for any charge-offs and the allowance for losses. The Company records an allowance for bad debt when receivables are over 90 days old.
Acquisitions	Acquisitions The Company accounts for acquisitions as asset acquisitions in accordance with ASC 805, "Business Combinations," and allocates the purchase price of the property based upon the fair value of the assets acquired, which generally consist of land, site and land improvements, buildings and improvements and rental homes. The Company allocates the purchase price of an acquired property generally determined by internal evaluation as well as third-party appraisal of the property obtained in conjunction with the purchase.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding plus the weighted average number of net shares that would be issued upon exercise of stock options pursuant to the treasury stock method. Total dilutive securities outstanding as of June 30, 2020 and 2019 totaled 656,175 and 541,334 stock options, respectively, 1,890,000 and 570,000 convertible Preferred Series A shares, respectively, which are convertible into common shares at $2.50 per share for a total of 756,000 and 228,000, respectively, which are not included in dilutive loss per share as the effect would be anti-dilutive.
Use of Estimates	Use of Estimates The presentation of financial statements in conformity with GAAP requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.
Investment Property and Depreciation	Investment Property and Depreciation Investment property which consists of property and equipment are carried at cost. Depreciation for Sites and Building is computed principally on the straight-line method over the estimated useful lives of the assets (ranging from 15 to 25 years). Depreciation of Improvements to Sites and Buildings, Rental Homes and Equipment and Vehicles is computed principally on the straight-line method over the estimated useful lives of the assets (ranging from 3 to 25 years). Land Development Costs are not depreciated until they are put in use, at which time they are capitalized as Sites and Land Improvements. Interest Expense pertaining to Land Development Costs are capitalized. Maintenance and Repairs are charged to expense as incurred and improvements are capitalized. The costs and related accumulated depreciation of property sold or otherwise disposed of are removed from the financial statement and any gain or loss is reflected in the current period's results of operations.
Impairment Policy	Impairment Policy The Company applies FASB ASC 360-10, "Property, Plant & Equipment," to measure impairment in real estate investments. Rental properties are individually evaluated for impairment when conditions exist which may indicate that it is probable that the sum of expected future cash flows (on an undiscounted basis without interest) from a rental property is less than the carrying value under its historical net cost basis. These expected future cash flows consider factors such as future operating income, trends and prospects as well as the effects of leasing demand, competition and other factors. Upon determination that a permanent impairment has occurred, rental properties are reduced to their fair value. For properties to be disposed of, an impairment loss is recognized when the fair value of the property, less the estimated cost to sell, is less than the carrying amount of the property measured at the time there is a commitment to sell the property and/or it is actively being marketed for sale. A property to be disposed of is reported at the lower of its carrying amount or its estimated fair value, less its cost to sell. Subsequent to the date that a property is held for disposition, depreciation expense is not recorded. There was no impairment during the six months ended June 30, 2020 and 2019.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid financial instruments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains cash balances at banks and deposits at times may exceed federally insured limits. Management believes that the financial institutions that hold the Company's cash are financially secure and, accordingly, minimal credit risk exists. At June 30, 2020 and December 31, 2019, the Company had approximately $1,417,000 and $2,553,000 above the FDIC-insured limit, respectively, including restricted cash held for tenant security deposits of $349,927 and $316,035, respectively.
Stock Based Compensation	Stock Based Compensation All stock based payments to employees, nonemployee consultants, and to nonemployee directors for their services as directors, including any grants of restricted stock and stock options, are measured at fair value on the grant date and recognized in the statements of operations as compensation or other expense over the relevant service period in accordance with FASB ASC Topic 718. Stock based payments to nonemployees are recognized as an expense over the period of performance. Such payments are measured at fair value at the earlier of the date a performance commitment is reached or the date performance is completed. In addition, for awards that vest immediately and are nonforfeitable the measurement date is the date the award is issued. The Company recorded stock option expense of $1,078 and $16 during the six months ended June 30, 2020 and 2019, respectively.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB ASC for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB ASC to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.
Reclassifications	Reclassifications Certain amounts in the prior period presentation have been reclassified to conform with the current presentation.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that the Company believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties, if any, with income tax expense in the accompanying consolidated statement of operations. As of June 30, 2020, and December 31, 2019, there were no such accrued interest or penalties.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires that entities use a new forward looking "expected loss" model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU No. 2016-13 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2022. The Company is currently evaluating the potential impact this standard may have on the consolidated financial statements. In March 2019, the FASB issued ASU No. 2019-01, "Leases (Topic 842): Codification Improvements." ASU 2019-01 aligns the guidance for fair value of the underlying asset by lessors with existing guidance in Topic 842. The ASU requires that the fair value of the underlying asset at lease commencement is its cost reflecting in volume or trade discounts that may apply. However, if there has been a significant lapse of time between the date the asset was acquired and the lease commencement date, the definition of fair value as outlined in Topic 820 should be applied. In addition, the ASU exempts both lessees and lessors from having to provide certain interim disclosures in the fiscal year in which a company adopts the new leases standard. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company has evaluated the impact this standard had on the consolidated financial statements and determined that it had no impact on the consolidated financial statements. Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed consolidated financial statements.
Impact of Coronavirus Pandemic	Impact of Coronavirus Pandemic In December 2019, a novel strain of coronavirus was reported to have surfaced in Wuhan, China. The virus has since spread to over 150 countries and every state in the United States. On March 11, 2020, the World Health Organization declared the outbreak a pandemic, and on March 13, 2020, the United States declared a national emergency. Most states and cities, including where the Company's properties are located, have reacted by instituting quarantines, restrictions on travel, "stay at home" rules and restrictions on the types of businesses that may continue to operate, as well as guidance in response to the pandemic and the need to contain it. The Company is carefully reviewing all rules, regulations, and orders and responding accordingly. The Company has taken steps to take care of its employees, including providing the ability for employees to work remotely and implementing strategies to support appropriate social distancing techniques for those employees who are not able to work remotely. The Company has also taken precautions with regard to employee, facility and office hygiene as well as implementing significant travel restrictions. The Company is also assessing its business continuity plans for all business units in the context of the pandemic. This is a rapidly evolving situation, and the Company will continue to monitor and mitigate developments affecting its workforce, its tenants, and the public at large to the extent the Company is able to do so. The rules and restrictions put in place have had a negative impact on the economy and business activity and may adversely impact the ability of the Company's tenants, many of whom may be restricted in their ability to work, to pay their rent as and when due. In addition, the Company's property managers may be limited in their ability to properly maintain the Company's properties. Enforcing the Company's rights as landlord against tenants who fail to pay rent or otherwise do not comply with the terms of their leases may not be possible as many jurisdictions, including those where are properties are located, have established rules and/or regulations preventing us from evicting tenants for certain periods in response to the pandemic. If the Company is unable to enforce its rights as landlords, our business would be materially affected. If the current pace of the pandemic cannot be slowed and the spread of the virus is not contained, the Company's business operations could be further delayed or interrupted. The Company expects that government and health authorities may announce new or extend existing restrictions, which could require the Company to make further adjustments to its operations in order to comply with any such restrictions. The duration of any business disruption cannot be reasonably estimated at this time but may materially affect the Company's ability to operate its business and result in additional costs. The extent to which the pandemic may impact the Company's results will depend on future developments, which are highly uncertain and cannot be predicted as of the date hereof, including new information that may emerge concerning the severity of the pandemic and steps taken to contain the pandemic or treat its impact, among others. Nevertheless, the pandemic and the current financial, economic and capital markets environment present material uncertainty and risk with respect to the Company's performance, financial condition, results of operations and cash flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Organization (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of subsidiaries	Name of Subsidiary State of Formation Date of Formation Ownership Pecan Grove MHP LLC North Carolina October 12, 2016 100%* Butternut MHP Land LLC Delaware March 1, 2017 100% Azalea MHP LLC North Carolina October 25, 2017 100% Holly Faye MHP LLC North Carolina October 25, 2017 100% Chatham Pines MHP LLC North Carolina October 31, 2017 100% Maple Hills MHP LLC North Carolina October 31, 2017 100% Lakeview MHP LLC South Carolina November 1, 2017 100% MHP Pursuits LLC North Carolina January 31, 2019 100% Mobile Home Rentals LLC North Carolina September 30, 2016 100% Hunt Club MHP LLC South Carolina March 8, 2019 100% B&D MHP LLC South Carolina April 4, 2019 100% Crestview MHP LLC North Carolina June 28, 2019 100% Springlake MHP LLC Georgia October 10, 2019 100% ARC MHP LLC South Carolina November 13, 2019 100% Countryside MHP LLC South Carolina March 12, 2020 100% Evergreen MHP LLC Tennessee March 17, 2020 100% * The Company originally acquired a 75% interest. In January 2019, the Company acquired the remaining 25% interest from a related party.

Revision of Prior Year Immate_2

Revision of Prior Year Immaterial Misstatement (Tables)	6 Months Ended
	Jun. 30, 2020
Revision of Prior Year Immaterial Misstatement [Abstract]
Schedule of consolidated financial statements	December 31, 2019 As previously reported Adjustment As Revised Balance Sheet / Statement of Changes in Stockholders' Equity Investment Property Land $ 11,130,259 $ (244,321 ) $ 10,885,938 Total Investment Property 34,811,785 (244,321 ) 34,567,464 Net Investment Property 33,416,827 (244,321 ) 33,172,506 Total Assets 38,152,131 (244,321 ) 37,907,810 Additional Paid in Capital 1,004,170 (244,321 ) 759,849 Total Stockholders' Deficit (2,712,554 ) (244,321 ) (2,956,875 ) Total Liabilities and Stockholders' Deficit $ 38,152,131 $ (244,321 ) $ 37,907,810

Investment Property (Tables)

Investment Property (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of investment property	June 30, 2020 December 31, Investment Property Land $ 11,378,818 $ 10,885,938 Site and Land Improvements 21,845,771 17,466,801 Buildings and Improvements 6,791,371 6,214,725 Total Investment Property 40,015,960 34,567,464 Less: accumulated depreciation and amortization (2,186,493 ) (1,394,958 ) Net Investment Property $ 37,829,467 $ 33,172,506

Promissory Notes (Tables)

Promissory Notes (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of secured promissory notes	Maturity Date Interest Rate Balance 06/30/20 Balance 12/31/19 Butternut MHP Land LLC 04/10/25 6.000 % $ 1,382,269 $ 1,114,819 Butternut MHP Land LLC Mezz 04/01/27 7.000 % - 280,013 Pecan Grove MHP LLC 02/22/29 5.250 % 3,070,251 3,095,274 Azalea MHP LLC 03/01/29 5.400 % 820,359 835,445 Holly Faye MHP LLC 03/01/29 5.400 % 579,825 574,096 Chatham MHP LLC 04/01/24 5.875 % 1,752,066 1,771,506 Lake View MHP LLC 03/01/29 5.400 % 1,844,936 1,857,266 B&D MHP LLC 04/25/29 5.500 % 1,836,799 1,854,788 Hunt Club MHP LLC 05/01/24 5.750 % 1,431,325 1,447,364 Crestview MHP LLC 07/31/24 5.500 % 4,126,370 4,173,652 Maple MHP LLC 01/01/23 5.125 % 2,652,653 2,688,653 Springlake MHP LLC 11/14/22 3.310 % 4,000,000 4,000,000 ARC MHP LLC 01/01/30 5.500 % 5,249,899 5,300,000 Countryside MHP LLC 03/20/50 5.500 % 3,000,000 - Evergreen MHP LLC 04/01/32 3.990 % 1,145,131 - Manufactured Housing Properties Inc. PPP* 05/01/22 1.000 % 139,300 - Totals note payables 33,031,183 28,992,876 Discount Direct Lender Fees (868,297 ) (633,629 ) Total net of Discount $ 32,162,886 $ 28,359,247 * Manufactured Housing Properties - Payroll Protection Program Loan
Schedule of minimum annual principal payments of notes payable	2020 (remainder of year) $ 240,973 2021 665,537 2022 4,646,074 2023 3,065,286 2024 7,192,359 Thereafter 17,220,954 Total minimum principal payments $ 33,031,183

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Stockholders' deficit
Schedule of stock options outstanding	Number of options Weighted average exercise price (per share) Weighted average remaining contractual term Outstanding at December 31, 2019 656,175 $ 0.03 8.7 Granted - - - Exercised - - - Forfeited / cancelled / expired - - - Outstanding at June 30, 2020 656,175 $ 0.03 8.2
Schedule of vested options outstanding	Strike Price Range ($) Outstanding stock options Weighted Weighted Vested stock options Weighted $ 0.01 519,675 8.0 $ 0.01 519,675 $ 0.01 $ 0.27 136,500 10.0 $ 0.27 45,500 $ 0.27
Schedule of stock option assumptions	June 30, 2020 December 31, 2019 Stock option assumptions Risk-free interest rate - 0.26 % Expected dividend yield - 0.00 % Expected volatility - 15.17 % Expected life of options (in years) - 10.0

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of acquisition of the manufactured housing communities acquired assets	Acquisition Date Name Land Improvements Building Acquisition Cost Total Purchase Price March 2020 Countryside MHP $ 152,880 $ 3,194,245 $ 352,875 $ 21,642 $ 3,721,642 March 2020 Evergreen MHP 340,000 1,111,000 - 138,125 1,589,125 $ 492,880 $ 4,305,245 $ 352,875 $ 159,767 $ 5,310,767
Schedule of pro-forma information	Six months ended Acquisitions Adjustment Six months ended Total revenue $ 2,814,271 $ 167,618 $ $ 2,981,889 Total expenses 3,415,098 60,297 3,475,395 Depreciation and amortization expense - - 49,445 49,445 Interest expense - - 40,719 40,719 Net income (loss) $ (600,827 ) $ 107,321 (583,670 ) Preferred stock dividends and put option value accretion 922,372 - 922,372 Net loss attributable to common shareholders $ (1,523,199 ) $ 107,321 $ (1,506,042 ) Weighted average - basic and fully diluted $ (0.12 ) Six months ended Acquisitions Adjustment Six months ended Total revenue $ 1,184,576 $ 1,284,470 $ $ 2,469,046 Total expenses 2,258,156 654,781 2,912,937 Depreciation and amortization expense - - 617,049 617,049 Interest expense - - 466,878 466,878 Net income (loss) $ (1,073,580 ) $ 629,689 (1,527,818 ) Preferred stock dividends and put option value accretion 48,084 - 48,084 Net loss attributable to common shareholders $ (1,121,664 ) $ 629,689 $ (1,575,902 ) Weighted average - basic and fully diluted $ (0.12 ) Three months ended June 30, 2019 Consolidated Acquisitions Adjustment Three months ended Total revenue $ 648,202 $ 654,785 $ $ 1,302,987 Total expenses 1,002,468 335,689 1,338,157 Depreciation and amortization expense - - 308,525 308,525 Interest expense - - 233,439 233,439 Net income (loss) $ (354,266 ) $ 319,096 (577,134 ) Preferred stock dividends and put option value accretion 43,417 - 43,417 Net loss attributable to common shareholders $ (397,683 ) $ 319,096 $ (620,551 ) Weighted average - basic and fully diluted $ (0.05 )

Summary of Significant Accoun_4

Summary of Significant Accounting Policies and Organization (Details)	6 Months Ended
	Jun. 30, 2020
Subsidiary 1
Name of Subsidiary	Pecan Grove MHP LLC
State of Formation	North Carolina
Date of Formation	October 12, 2016
Ownership	100.00%	[1]
Subsidiary 2
Name of Subsidiary	Butternut MHP Land LLC
State of Formation	Delaware
Date of Formation	March 1, 2017
Ownership	100.00%
Subsidiary 3
Name of Subsidiary	Azalea MHP LLC
State of Formation	North Carolina
Date of Formation	October 25, 2017
Ownership	100.00%
Subsidiary 4
Name of Subsidiary	Holly Faye MHP LLC
State of Formation	North Carolina
Date of Formation	October 25, 2017
Ownership	100.00%
Subsidiary 5
Name of Subsidiary	Chatham Pines MHP LLC
State of Formation	North Carolina
Date of Formation	October 31, 2017
Ownership	100.00%
Subsidiary 6
Name of Subsidiary	Maple Hills MHP LLC
State of Formation	North Carolina
Date of Formation	October 31, 2017
Ownership	100.00%
Subsidiary 7
Name of Subsidiary	Lakeview MHP LLC
State of Formation	South Carolina
Date of Formation	November 1, 2017
Ownership	100.00%
Subsidiary 8
Name of Subsidiary	MHP Pursuits LLC
State of Formation	North Carolina
Date of Formation	January 31, 2019
Ownership	100.00%
Subsidiary 9
Name of Subsidiary	Mobile Home Rentals LLC
State of Formation	North Carolina
Date of Formation	September 30, 2016
Ownership	100.00%
Subsidiary 10
Name of Subsidiary	Hunt Club MHP LLC
State of Formation	South Carolina
Date of Formation	March 8, 2019
Ownership	100.00%
Subsidiary 11
Name of Subsidiary	B&D MHP LLC
State of Formation	South Carolina
Date of Formation	April 4, 2019
Ownership	100.00%
Subsidiary 12
Name of Subsidiary	Crestview MHP LLC
State of Formation	North Carolina
Date of Formation	June 28, 2019
Ownership	100.00%
Subsidiary 13
Name of Subsidiary	Springlake MHP LLC
State of Formation	Georgia
Date of Formation	October 10, 2019
Ownership	100.00%
Subsidiary 14
Name of Subsidiary	ARC MHP LLC
State of Formation	South Carolina
Date of Formation	November 13, 2019
Ownership	100.00%
Subsidiary 15
Name of Subsidiary	Countryside MHP LLC
State of Formation	South Carolina
Date of Formation	March 12, 2020
Ownership	100.00%
Subsidiary 16
Name of Subsidiary	Evergreen MHP LLC
State of Formation	Tennessee
Date of Formation	March 17, 2020
Ownership	100.00%
[1]	The Company originally acquired a 75% interest. In January 2019, the Company acquired the remaining 25% interest from a related party.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies and Organization (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Summary of Significant Accounting Policies and Organization (Textual)
Stock option expense	$ 1,078	$ 16
Conversion of option share	656,175	541,334
Available balance in concentration of credit risk	$ 1,417,000		$ 2,553,000
Common stock price per share	$ 2.50
Tenant Security Deposits	$ 349,927		$ 316,035
Remaining acquired interest, description	The Company originally acquired a 75% interest. In January 2019, the Company acquired the remaining 25% interest from a related party.
Series A Preferred Stock [Member]
Summary of Significant Accounting Policies and Organization (Textual)
Conversion of option share	1,890,000	570,000
Description of convertible into common shares	Which are convertible into common shares at $2.50 per share for a total of 756,000 and 228,000, respectively, which are not included in dilutive loss per share as the effect would be anti-dilutive.
Minimum [Member]
Summary of Significant Accounting Policies and Organization (Textual)
Property and equipment estimated useful lives of the assets	3 years
Minimum [Member] | Sites and Building [Member]
Summary of Significant Accounting Policies and Organization (Textual)
Property and equipment estimated useful lives of the assets	15 years
Maximum [Member]
Summary of Significant Accounting Policies and Organization (Textual)
Property and equipment estimated useful lives of the assets	25 years
Maximum [Member] | Sites and Building [Member]
Summary of Significant Accounting Policies and Organization (Textual)
Property and equipment estimated useful lives of the assets	25 years

Revision of Prior Year Immate_3

Revision of Prior Year Immaterial Misstatement (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Investment Property
Land	$ 11,378,818		$ 10,885,938
Total Investment Property	40,015,960		34,567,464
Net Investment Property	37,829,467		33,172,506
Total Assets	41,367,120		37,907,810
Additional Paid in Capital	(127,339)		759,849
Total Stockholders’ Deficit	(4,444,309)	$ (3,741,870)	(2,956,875)	$ (1,792,911)	$ (1,333,299)	$ (953,030)
Total Liabilities and Stockholders' Deficit	$ 41,367,120		37,907,810
Adjustment [Member]
Investment Property
Land			(244,321)
Total Investment Property			(244,321)
Net Investment Property			(244,321)
Total Assets			(244,321)
Additional Paid in Capital			(244,321)
Total Stockholders’ Deficit			(244,321)
Total Liabilities and Stockholders' Deficit			(244,321)
As previously reported [Member]
Investment Property
Land			11,130,259
Total Investment Property			34,811,785
Net Investment Property			33,416,827
Total Assets			38,152,131
Additional Paid in Capital			1,004,170
Total Stockholders’ Deficit			(2,712,554)
Total Liabilities and Stockholders' Deficit			$ 38,152,131

Revision of Prior Year Immate_4

Revision of Prior Year Immaterial Misstatement (Details Textual) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Revision of Prior Year Immaterial Misstatement (Textual)
Total Investment Property	$ 40,015,960	$ 34,567,464
Adjustment [Member]
Revision of Prior Year Immaterial Misstatement (Textual)
Total Investment Property		$ (244,321)

Investment Property (Details)

Investment Property (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Investment Property
Land	$ 11,378,818	$ 10,885,938
Site and Land Improvements	21,845,771	17,466,801
Buildings and Improvements	6,791,371	6,214,725
Total Investment Property	40,015,960	34,567,464
Less: accumulated depreciation and amortization	(2,186,493)	(1,394,958)
Net Investment Property	$ 37,829,467	$ 33,172,506

Investment Property (Details Te

Investment Property (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 482,259	$ 157,321	$ 872,252	$ 292,247
Acquire manufactured housing cost			$ 5,310,767
Percentage of acquired interest			25.00%

Promissory Notes (Details)

Promissory Notes (Details) - USD ($)		6 Months Ended
		Jun. 30, 2020	Dec. 31, 2019
Totals note payables		$ 33,031,183	$ 28,992,876
Discount Direct Lender Fees		(868,297)	(633,629)
Total net of Discount		$ 32,162,886	28,359,247
Butternut MHP Land LLC [Member]
Maturity date		Apr. 10, 2025
Interest rate		6.00%
Totals note payables		$ 1,382,269	1,114,819
Butternut MHP Land LLC Mezz [Member]
Maturity date		Apr. 1, 2027
Interest rate		7.00%
Totals note payables			280,013
Pecan Grove MHP LLC [Member]
Maturity date		Feb. 22, 2029
Interest rate		5.25%
Totals note payables		$ 3,070,251	3,095,274
Azalea MHP LLC [Member]
Maturity date		Mar. 1, 2029
Interest rate		5.40%
Totals note payables		$ 820,359	835,445
Holly Faye MHP LLC [Member]
Maturity date		Mar. 1, 2029
Interest rate		5.40%
Totals note payables		$ 579,825	574,096
Chatham MHP LLC [Member]
Maturity date		Apr. 1, 2024
Interest rate		5.875%
Totals note payables		$ 1,752,066	1,771,506
Lakeview MHP LLC
Maturity date		Mar. 1, 2029
Interest rate		5.40%
Totals note payables		$ 1,844,936	1,857,266
B&D MHP LLC [Member]
Maturity date		Apr. 25, 2029
Interest rate		5.50%
Totals note payables		$ 1,836,799	1,854,788
Hunt Club MHP LLC [Member]
Maturity date		May 1, 2024
Interest rate		5.75%
Totals note payables		$ 1,431,325	1,447,364
Crestview MHP LLC [Member]
Maturity date		Jul. 31, 2024
Interest rate		5.50%
Totals note payables		$ 4,126,370	4,173,652
Maple Hills MHP LLC [Member]
Maturity date		Jan. 1, 2023
Interest rate		5.125%
Totals note payables		$ 2,652,653	2,688,653
Springlake MHP LLC [Member]
Maturity date		Nov. 14, 2022
Interest rate		3.31%
Totals note payables		$ 4,000,000	4,000,000
ARC MHP LLC [Member]
Maturity date		Jan. 1, 2030
Interest rate		5.50%
Totals note payables		$ 5,249,899	5,300,000
Countryside MHP LLC [Member]
Maturity date		Mar. 20, 2050
Interest rate		5.50%
Totals note payables		$ 3,000,000
Evergreen MHP LLC [Member]
Maturity date		Apr. 1, 2032
Interest rate		3.99%
Totals note payables		$ 1,145,131
Manufactured Housing Properties Inc. PPP [Member]
Maturity date	[1]	May 1, 2022
Interest rate	[1]	1.00%
Totals note payables		$ 139,300
[1]	Manufactured Housing Properties - Payroll Protection Program Loan

Promissory Notes (Details 1)

Promissory Notes (Details 1)	Jun. 30, 2020USD ($)
Debt Disclosure [Abstract]
2020 (remainder of year)	$ 240,973
2021	665,537
2022	4,646,074
2023	3,065,286
2024	7,192,359
Thereafter	17,220,954
Total minimum principal payments	$ 33,031,183

Promissory Notes (Details Textu

Promissory Notes (Details Textual) - USD ($)	May 02, 2020	Apr. 02, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Oct. 01, 2017	May 08, 2017
Promissory Notes (Textual)
Secured promissory notes, description						The Company refinanced a total of $4,940,750 from current loans payable to $8,241,000 of new notes payable from five of the communities, resulting in an additional loan payable of $3,320,859.
Write off of mortgage cost						$ 68,195
Mortgage costs due to refinancing			$ 222,586	$ 110,039	222,586	110,039
Outstanding balance					816,500		$ 1,730,000
Imputed interest			17,777	13,857	$ 36,934	27,861
Interest rate terms					The note is interest only payment based on 8%, and 10% deferred until maturity to be paid with principal balance.
Interest expense related note			$ 36,028	$ 86,238	$ 56,441	$ 143,338
Payroll Protection Program [Member]
Promissory Notes (Textual)
Loan amount	$ 139,300
Bears interest rate	1.00%
Loan term	2 years
Butternut MHP Land LLC [Member]
Promissory Notes (Textual)
Secured promissory notes, description		The Company refinanced the loans for Butternut MHP Land LLC with the existing lender to increase the loan amount to $1,382,269 and to extend the maturity date to April 10, 2025.
Maturity date					Apr. 10, 2025
Interest rate terms		(i) the per annum rate of interest identified as the "Prime Rate" as published in the monthly rates section of the Wall Street Journal plus (ii) 1% per annum, adjusted as the first day of each calendar quarter.
Loan amount		$ 1,382,269
Bears interest rate		6.00%
Metrolina Loan Holdings, LLC [Member]
Promissory Notes (Textual)
Principal amount									$ 3,000,000
Common stock shares			455,000		455,000
Related party promissory note, description							The Company paid off the entire balance on the note of $2,754,550 plus interest and amended the agreement to allow for the redeployment of the $3,000,000 available, eliminated the conversion option whereby Metrolina could convert the ratio of total outstanding debt at time of exercise of the option into an amount of newly issued shares of the Company’s Common Stock determined by dividing the outstanding indebtedness by $3,000,000 multiplied by 10% with a cap of 864,500 shares. The amendment resulted in issuing an additional 545,000 shares with a fair value of $305,200 for a total of 1,000,000 shares awarded to Metrolina. The note gives Metrolina the right and option to purchase its pro rata share of debt or equity securities issued to maintain up to 10% equity interest in the Company at the most recent price of any equity transaction for seven years from the amendment dated February 26, 2019.
Raymond M. Gee [Member]
Promissory Notes (Textual)
Principal amount			$ 7,434,450		$ 7,434,450
Outstanding balance					$ 621,061		$ 797,906
Working capital								$ 1,500,000
Minimum [Member]
Promissory Notes (Textual)
Promissory notes					3.30%
Principal amortization years					5 years
Maximum [Member]
Promissory Notes (Textual)
Promissory notes					7.00%
Principal amortization years					30 years

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - Equity Incentive Plan [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Number of options Outstanding, beginning	656,175
Number of options Granted
Number of options Exercised
Number of options Forfeited / cancelled / expired
Number of options Outstanding, ending	656,175	656,175
Weighted average exercise price Outstanding, beginning	$ 0.03
Weighted average exercise price Granted
Weighted average exercise price Exercised
Weighted average exercise price Forfeited / cancelled / expired
Weighted average exercise price Outstanding, ending	$ 0.03	$ 0.03
Weighted average remaining contractual terms, (in years)	8 years 2 months 12 days	8 years 8 months 12 days

Stockholders_ Equity (Details 1

Stockholders’ Equity (Details 1)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Strike Price Range 0.01 [Member]
Strike Price Range	$ 0.01
Outstanding stock options | shares	519,675
Weighted average remaining contractual term (in years)	8 years
Weighted average outstanding strike price	$ 0.01
Vested stock options | shares	519,675
Weighted average vested strike price	$ 0.01
Strike Price Range 0.27 [Member]
Strike Price Range	$ 0.27
Outstanding stock options | shares	136,500
Weighted average remaining contractual term (in years)	10 years
Weighted average outstanding strike price	$ 0.27
Vested stock options | shares	45,500
Weighted average vested strike price	$ 0.27

Stockholders_ Equity (Details 2

Stockholders’ Equity (Details 2)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Stockholders' deficit
Risk-free interest rate		0.26%
Expected dividend yield		0.00%
Expected volatility		15.17%
Expected life of options (in years)		10 years

Stockholders_ Equity (Details T

Stockholders’ Equity (Details Textual) - USD ($)	May 08, 2019	Dec. 02, 2019	Nov. 30, 2019	Nov. 01, 2019	Feb. 28, 2019	Jan. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Apr. 30, 2020	Dec. 31, 2017
Stockholders’ Equity (Textual)
Preferred stock, par value							$ 0.01		$ 0.01
Common Stock, shares authorized							200,000,000		200,000,000
Common Stock, shares issued							12,394,180		12,336,080
Common Stock, shares outstanding							12,394,180		12,336,080
Stock issued for cash, shares							8,100	0
Stock issued for cash, value							$ 2,187	$ 0
Stock option expense							$ 1,078	$ 16
Aggregate intrinsic shares of money options							519,675
Aggregate intrinsic value							$ 1,283,597
Accretion of put option							$ 420,250		$ 184,000
Common stock for services, description			The Company issued 350,000 shares of Common Stock for services to an investment bank for advisory services with a fair value of $171,500, and $24,500 of that fair value was expensed during the three months ended June 30, 2019. During year ended December 31, 2019, the Company purchased these shares back for a total of $61,837 and canceled the shares due to the termination of the advisory service agreement with the investment bank.
Mertolina [Member]
Stockholders’ Equity (Textual)
Common Stock issued, shares								254,506
Common Stock issued fair value								$ 68,717
Commons stock issued shares for service					545,000
Commons stock issued value for service					$ 305,200
Percentage of interest rate								10.00%
Gvest Real Estate Capital LLC [Member]
Stockholders’ Equity (Textual)
Stock issued for cash, shares						2,000,000
Stock issued for cash, value						$ 293,241
Percentage of interest rate						25.00%
Board [Member]
Stockholders’ Equity (Textual)
Common Stock issued, shares										50,000
Common Stock issued fair value										$ 32,500
Series A Preferred Stock [Member]
Stockholders’ Equity (Textual)
Preferred stock, par value							$ 0.01		$ 0.01
Preferred stock, authorized							4,000,000		4,000,000
Preferred stock, shares issued							1,890,000		1,890,000
Preferred Stock, Outstanding							1,890,000		1,890,000
Preferred stock, designated shares	4,000,000
Cumulative dividends, per shares	$ 0.017
Liquidation preference per share	$ 2.50
Dividend rate, percentage	8.00%
Dividends paid							$ 192,220	$ 24,334
Liquidation preference, description	The liquidation preference for each share of Series A Preferred Stock is $2.50.
Conversion price	$ 2.50
Common Stock is greater than the liquidation preference, per shares	$ 2.50
Put option cost							236,250	23,750
Call and stockholder put options, description	The Company will have a right to call for redemption the outstanding shares of Series A Preferred Stock at a call price equal to $3.75, or 150% of the original issue price of the Series A Preferred Stock, and correspondingly, each holder of shares of Series A Preferred Stock shall have a right to put the shares of Series A Preferred Stock held by such holder back to us at a put price equal to $3.75, or 150% of the original issue purchase price of such shares.
Preferred stock total in cash							$ 4,725,000		$ 4,725,000
Series B Preferred Stock [Member]
Stockholders’ Equity (Textual)
Preferred stock, par value							$ 0.01		$ 0.01
Preferred stock, authorized							1,000,000		1,000,000
Preferred stock, shares issued							577,005		409,722
Preferred Stock, Outstanding							577,005		409,722
Preferred stock, designated shares		1,000,000
Cumulative dividends, per shares		$ 0.067
Liquidation preference per share		$ 10
Dividend rate, percentage		8.00%
Dividends paid							$ 195,875	0
Liquidation preference, description		The Company’s failure to pay dividends when due or to redeem shares when requested by a holder), such amount shall be increased to $0.083 per month, which is equivalent to the annual rate of 10% of the $10.00 liquidation preference per share.
Call and stockholder put options, description		The Company will have a right to call for redemption the outstanding shares of Series B Preferred Stock at a call price equal to $15.00, or 150% of the original issue price of the Series B Preferred Stock, and correspondingly, each holder of shares of Series B Preferred Stock shall have a right to put the shares of Series B Preferred Stock held by such holder back to the Company at a put price equal to $15.00, or 150% of the original issue purchase price of such shares.
Offering Share of preferred stock				1,000,000
Offering price per shares				$ 10
Maximum offering amount				$ 10,000,000
Aggregate sale of shares							167,283
Gross proceeds							$ 1,672,830
Net proceeds							1,555,732
Public offering, description				The Company is offering bonus shares to early investors in this offering, whereby the first 400 investors will receive, in addition to Series B Preferred Stock, 100 shares of Common Stock, regardless of the amount invested, for a total of 40,000 shares of Common Stock.
Accretion of put option							$ 298,027	$ 0
Equity Incentive Plan [Member]
Stockholders’ Equity (Textual)
Shares issued									136,500		519,675
Shares were granted							656,175
Remaining shares under plan							343,825

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	May 08, 2017	Jan. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Oct. 01, 2017
Related Party Transactions (Textual)
Note Payable - related party			$ 621,061		$ 621,061		$ 797,906
Imputed interest			17,777	$ 13,857	36,934	$ 27,861
Paid off balance amount							$ 2,754,550
Related party transaction, description							The Company’s Common Stock determined by dividing the outstanding indebtedness by $3,000,000 multiplied by 10% with a cap of 864,500 shares.
Redeployment amount							$ 3,000,000
Additional issue shares							545,000
Fair value							$ 305,200
Fair value of shares awarded to Metrolina							1,000,000
Note Payable - Related Party			33,031,183		$ 33,031,183		$ 28,992,876
Debt or equity securities issued rate							10.00%
Debt, description					Mr. Gee, the Company's Chief Executive Officer, received a $50,000 fee for his personal guarantee on a promissory note relating to a loan for one of the Company's acquisitions, and $70,000 fee for his personal guarantee on a promissory note relating to the refinance of our loans for Butternut MHP Land LLC.
Interest expense related note			36,028	86,238	$ 56,441	143,338
Mertolina [Member]
Related Party Transactions (Textual)
Paid off balance amount					816,500		$ 1,270,000
Gvest Real Estate Capital LLC [Member]
Related Party Transactions (Textual)
Interest rate		25.00%
Common Stock, shares		2,000,000
Cost value		$ 293,241
Lease cost					4,000
Rent expense			12,000	0	24,000	0
Property management revenue			$ 3,284	$ 15,284	$ 4,538	$ 8,263
Mr. Gee [Member]
Related Party Transactions (Textual)
Working capital								$ 1,500,000
Metrolina Loan Holdings, LLC [Member]
Related Party Transactions (Textual)
Principal amount	$ 3,000,000
Common Stock, shares	455,000
Metrolina Loan Holdings, LLC [Member] | Minimum [Member]
Related Party Transactions (Textual)
Interest rate	8.00%
Metrolina Loan Holdings, LLC [Member] | Maximum [Member]
Related Party Transactions (Textual)
Interest rate	10.00%

Acquisitions (Details)

Acquisitions (Details)	6 Months Ended
	Jun. 30, 2020USD ($)
Land	$ 492,880
Improvements	4,305,245
Building	352,875
Acquisition Cost	159,767
Total purchase price	5,310,767
Countryside MHP [Member]
Land	152,880
Improvements	3,194,245
Building	352,875
Acquisitions [Member]
Acquisition Cost	21,642
Total purchase price	$ 3,721,642
Acquisition date	Mar. 31, 2020
Evergreen MHP [Member]
Land	$ 340,000
Improvements	1,111,000
Building
Adjustment [Member]
Acquisition Cost	138,125
Total purchase price	$ 1,589,125
Acquisition date	Mar. 31, 2020

Acquisitions (Details 1)

Acquisitions (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenue		$ 1,302,987	$ 2,981,889	$ 2,469,046
Total expenses		1,338,157	3,475,395	2,912,937
Depreciation and amortization expense	$ 482,259	157,321	872,252	292,247
Interest expense	465,335	287,762	903,509	520,468
Net income (loss)		(577,134)	(583,670)	(1,527,818)
Preferred stock dividends and put option value accretion	489,383	43,417	922,372	48,084
Net loss attributable to common shareholders	$ (736,045)	$ (397,683)	$ (1,523,199)	$ (1,121,664)
Weighted average - basic and fully diluted		$ (0.05)	$ (0.12)	$ (0.12)
Consolidated
Total revenue		$ 648,202	$ 2,814,271	$ 1,184,576
Total expenses		1,002,468	3,415,098	2,258,156
Depreciation and amortization expense
Interest expense
Net income (loss)		(354,266)	(600,827)	(1,073,580)
Preferred stock dividends and put option value accretion		43,417	922,372	48,084
Net loss attributable to common shareholders		(397,683)	(1,523,199)	(1,121,664)
Acquisitions [Member]
Total revenue		654,785	167,618	1,284,470
Total expenses		335,689	60,297	654,781
Depreciation and amortization expense
Interest expense
Net income (loss)		319,096	107,321	629,689
Preferred stock dividends and put option value accretion
Net loss attributable to common shareholders		319,096	107,321	629,689
Adjustment [Member]
Depreciation and amortization expense		308,525	49,445	617,049
Interest expense		$ 233,439	$ 40,719	$ 466,878

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	Jul. 07, 2020	Jul. 30, 2020
Subsequent Events (Textual)
Subsequent event, description		The Company completed an additional closing of the Regulation A offering (see Note 6), pursuant to which the Company sold an aggregate of 15,214 shares of Series B Preferred Stock to investors for total gross proceeds of $152,140. After deducting the placement fee, the Company received net proceeds of $141,490. The Company also issued 1,300 shares of Common Stock to additional early investors.
Accrued interest	$ 37,266
Mertolina [Member]
Subsequent Events (Textual)
Remaining balance of promissory note	$ 816,500