Owens Realty Mortgage (ORM) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 06, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Owens Realty Mortgage, Inc.
Trading Symbol	orm
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		10,541,173
Amendment Flag	false
Entity Central Index Key	1,556,364
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 6,707,686	$ 1,413,545
Restricted cash	7,495,337	6,248,746
Loans, net of allowance for loan losses of $3,341,714 in 2015 and $2,869,355 in 2014	73,492,372	65,164,156
Interest and other receivables	1,688,948	1,482,380
Other assets, net of accumulated depreciation and amortization of $259,597 in 2015 and $1,065,172 in 2014	681,715	1,138,123
Deferred financing costs, net of accumulated amortization of $676,047 in 2015 and $253,675 in 2014	936,948	1,317,585
Investment in limited liability company	2,188,064	2,142,581
Real estate held for sale	104,681,106	59,494,339
Real estate held for investment, net of accumulated depreciation of $2,591,431 in 2015 and $6,075,287 in 2014	53,905,407	103,522,466
Total assets	251,777,583	241,923,921
LIABILITIES:
Dividends payable	835,533	1,292,160
Due to Manager	234,588	283,644
Accounts payable and accrued liabilities	4,654,230	2,219,674
Deferred gains on sales of real estate	209,662	362,283
Lines of credit payable	8,954,000	11,450,000
Notes and loans payable on real estate	41,197,782	37,569,549
Total liabilities	$ 56,085,795	$ 53,177,310
Commitments and Contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding at September 30, 2015 and December 31, 2014
Common stock, $.01 par value per share, 50,000,000 shares authorized, 11,198,119 shares issued, 10,407,738 and 10,768,001 shares outstanding at September 30, 2015 and December 31, 2014	$ 111,981	$ 111,981
Additional paid-in capital	182,437,522	182,437,522
Treasury stock, at cost – 790,381 and 430,118 shares at September 30, 2015 and December 31, 2014	(10,602,004)	(5,349,156)
Retained earnings	19,143,709	7,371,511
Total stockholders’ equity	191,091,208	184,571,858
Non-controlling interests	4,600,580	4,174,753
Total equity	195,691,788	188,746,611
Total liabilities and equity	$ 251,777,583	$ 241,923,921

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Loans, allowance for losses (in Dollars)	$ 3,341,714	$ 2,869,355
Other assets, accumulated depreciation and amortization (in Dollars)	259,597	1,065,172
Deferred financing costs, accumulated amortization (in Dollars)	676,047	253,675
Real estate held for investment, accumulated depreciation (in Dollars)	$ 2,591,431	$ 6,075,287
Preferred Stock,par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock,authorized shares	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	11,198,119	11,198,119
Common stock,shares outstanding	10,407,738	10,768,001
Treasury stock, shares	790,381	430,118

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Interest income on loans	$ 1,372,739	$ 1,399,122	$ 6,697,476	$ 3,564,842
Rental and other income from real estate properties	2,996,873	3,262,549	9,983,138	8,936,923
Income from investment in limited liability company	44,605	43,686	130,483	126,357
Other income				19
Total revenues	4,414,217	4,705,357	16,811,097	12,628,141
Expenses:
Management fees to Manager	513,292	435,652	1,410,293	1,275,901
Servicing fees to Manager	46,663	39,605	128,208	115,991
General and administrative expense	292,531	285,669	951,579	1,090,876
Rental and other expenses on real estate properties	2,070,680	2,060,670	6,420,490	5,952,479
Depreciation and amortization	526,178	549,189	1,712,136	1,642,922
Interest expense	354,163	338,225	1,413,109	718,707
Bad debt expense	150,402	660	150,537	1,296
Provision for loan losses	44,316	117,680	472,359	141,032
Impairment losses on real estate properties	0	123,500	1,256,434	179,040
Total expenses	3,998,225	3,950,850	13,915,145	11,118,244
Operating income	415,992	754,507	2,895,952	1,509,897
Gain on sales of real estate, net		113,113	15,031,299	2,740,105
Gain on foreclosure of loan				257,020
Net income	415,992	867,620	17,927,251	4,507,022
Less: Net income attributable to non-controlling interests	(31,671)	(83,797)	(2,630,434)	(151,752)
Net income attributable to common stockholders	$ 384,321	$ 783,823	$ 15,296,817	$ 4,355,270
Per common share data:
Basic and diluted earnings per common share (in Dollars per share)	$ 0.04	$ 0.07	$ 1.43	$ 0.40
Basic and diluted weighted average number of common shares outstanding (in Shares)	10,538,735	10,768,001	10,690,736	10,768,495
Dividends declared per share of common stock (in Dollars per share)	$ 0.08	$ 0.05	$ 0.33	$ 0.15

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balances at Dec. 31, 2013	$ 111,981	$ 182,437,522	$ (5,023,668)	$ 2,348,575	$ 179,874,410	$ 6,351,896	$ 186,226,306
Balances (in Shares) at Dec. 31, 2013	11,198,119		(403,910)
Net income				4,355,270	4,355,270	151,752	4,507,022
Dividends declared				(1,614,533)	(1,614,533)		(1,614,533)
Purchase of treasury stock			$ (325,488)		(325,488)		(325,488)
Purchase of treasury stock (in Shares)			(26,208)
Contribution from non-controlling interest						112,533	112,533
Distributions to non-controlling interests						(6,108)	(6,108)
Balances at Sep. 30, 2014	$ 111,981	182,437,522	$ (5,349,156)	5,089,312	182,289,659	6,610,073	188,899,732
Balances (in Shares) at Sep. 30, 2014	11,198,119		(430,118)
Balances at Dec. 31, 2013	$ 111,981	182,437,522	$ (5,023,668)	2,348,575	179,874,410	6,351,896	186,226,306
Balances (in Shares) at Dec. 31, 2013	11,198,119		(403,910)
Balances at Dec. 31, 2014	$ 111,981	182,437,522	$ (5,349,156)	7,371,511	184,571,858	4,174,753	188,746,611
Balances (in Shares) at Dec. 31, 2014	11,198,119		(430,118)
Net income				15,296,817	15,296,817	2,630,434	17,927,251
Dividends declared				(3,524,619)	(3,524,619)		(3,524,619)
Purchase of treasury stock			$ (5,252,848)		(5,252,848)		(5,252,848)
Purchase of treasury stock (in Shares)			(360,263)
Contribution from non-controlling interest						279,184	279,184
Distributions to non-controlling interests						(2,483,791)	(2,483,791)
Balances at Sep. 30, 2015	$ 111,981	$ 182,437,522	$ (10,602,004)	$ 19,143,709	$ 191,091,208	$ 4,600,580	$ 195,691,788
Balances (in Shares) at Sep. 30, 2015	11,198,119		(790,381)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 17,927,251	$ 4,507,022
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of real estate and other assets, net	(15,031,299)	(2,740,105)
Gain on foreclosure of loan		(257,020)
Income from investment in limited liability company	(130,483)	(126,357)
Provision for loan losses	472,359	141,032
Impairment losses on real estate properties	1,256,434	179,040
Depreciation and amortization of real estate and related assets	1,712,136	1,642,922
Amortization of deferred financing costs to interest expense	266,862	78,261
Accretion of discount on loan to interest income	(536,816)	(85,403)
Changes in operating assets and liabilities:
Interest and other receivables	(206,568)	(561,304)
Other assets	(46,149)	(74,934)
Accounts payable and accrued liabilities	91,447	(198,465)
Due to Manager	(49,056)	(98,161)
Net cash provided by operating activities	5,726,118	2,406,528
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal collected on loans	31,698,649	20,857,860
Investments in loans	(39,962,408)	(27,168,876)
Investment in real estate properties	(15,475,195)	(18,024,721)
Net proceeds from disposition of real estate properties and other assets	34,865,173	174,890
Purchases of furniture, fixtures and equipment	(48,402)	(7,212)
Transfer to restricted cash, net	(1,246,591)	(1,485,050)
Distribution received from investment in limited liability company	85,000	84,000
Net cash provided by (used in) investing activities	9,916,226	(25,569,109)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances on notes payable	23,538,846	372,472
Repayments on notes payable	(19,910,613)	(330,905)
Advances on lines of credit	30,161,000	41,144,507
Repayments on lines of credit	(32,657,000)	(20,291,807)
Payment of deferred financing costs	(41,735)	(354,549)
Distributions to non-controlling interests	(2,483,791)	(6,108)
Contributions from non-controlling interest	279,184	112,533
Purchase of treasury stock	(5,252,848)	(325,488)
Dividends paid	(3,981,246)	(1,256,133)
Net cash (used in) provided by financing activities	(10,348,203)	19,064,522
Net increase (decrease) in cash and cash equivalents	5,294,141	(4,098,059)
Cash and cash equivalents at beginning of period	1,413,545	8,158,734
Cash and cash equivalents at end of period	6,707,686	4,060,675
Supplemental Disclosures of Cash Flow Information
Cash paid during the period for interest (excluding amounts capitalized)	1,207,669	705,238
Cash paid during the period for interest that was capitalized	187,784
Supplemental Disclosures of Non-Cash Activity
Increase in real estate from loan foreclosures		3,241,220
Decrease in loans, net of allowance for loan losses, from loan foreclosures		(2,959,500)
Decrease in interest and other receivables from loan foreclosures		(281,720)
Transfers from real estate held for investment to real estate held for sale	64,627,930	11,651,439
Transfers from real estate held for sale to real estate held for investment	1,953,677	1,958,400
Capital expenditures financed through accounts payable	(2,343,109)	(838,419)
Deferred financing costs paid from construction loan		620,391
Amortization of deferred financing costs capitalized to construction project	$ (155,510)	$ (69,116)

Note 1 - Organization

Note 1 - Organization	9 Months Ended
	Sep. 30, 2015
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 – ORGANIZATION Owens Realty Mortgage, Inc. (the “Company”) was incorporated on August 9, 2012, under the laws of the State of Maryland. The Company is authorized to issue 50,000,000 shares of its $0.01 par value common stock. In addition, the Company is authorized to issue 5,000,000 shares of preferred stock at $0.01 par value per share. The Company was created to effect the merger (the “Merger”) of Owens Mortgage Investment Fund, a California Limited Partnership (“OMIF”) with and into the Company as described in the Registration Statement on Form S-4, as amended, of the Company, declared effective on February 12, 2013 (File No. 333-184392). The Merger was part of a plan to reorganize the business operations of OMIF so that it could elect to qualify as a real estate investment trust for Federal income tax purposes. The Merger was approved by OMIF limited partners on April 16, 2013 and was completed on May 20, 2013. The Company has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with the Company’s taxable year ended December 31, 2012. As a REIT, the Company is permitted to deduct distributions made to its stockholders, allowing its operating income represented by such distributions to avoid taxation at the entity level and to be taxed generally only at the stockholder level. The Company intends to distribute substantially all of its operating income. As a REIT, however, the Company is subject to separate, corporate-level tax, including potential 100% penalty taxes under various circumstances, as well as certain state and local taxes. In addition, the Company’s taxable REIT subsidiaries are subject to full corporate income tax. Furthermore, the Company’s ability to continue to qualify as a REIT will depend upon its continuing satisfaction of various requirements, such as those related to the diversity of its stock ownership, the nature of its assets, the sources of its income and the distributions to its stockholders, including a requirement that the Company distribute to its stockholders at least 90% of its REIT taxable income on an annual basis (determined without regard to the dividends paid deduction and by excluding net capital gain).

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES In the opinion of the management of the Company, the accompanying unaudited financial statements contain all adjustments, consisting of normal, recurring adjustments, necessary to present fairly the financial information included therein. Certain information and footnote disclosures presented in the annual consolidated financial statements are not included in these interim financial statements. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Form 10-K of ORM for the year ended December 31, 2014 filed with the Securities and Exchange Commission (“SEC”). The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the operating results to be expected for the full year ending December 31, 2015. The Company evaluates subsequent events up to the date it files its Form 10-Q with the SEC. Basis of Presentation Princip les of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned taxable REIT subsidiary (TRS) and its majority- and wholly-owned limited liability companies (see notes 5 and 6). The Company is in the business of providing mortgage lending services and manages its business as one operating segment. Due to foreclosure activity, the Company also owns and manages real estate assets. Certain reclassifications, not affecting previously reported net income or total stockholders’ equity, have been made to the previously issued consolidated financial statements to conform to the current period presentation. Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect 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 reporting periods. Such estimates are inherently imprecise and actual results could differ significantly from such estimates. Recently Issued Accounting Standards In April 2015, the FASB issued Accounting Standards Update 2015-03, “Interest - Imputation of Interest (Subtopic 835-30) – Simplifying the Presentation of Debt Issuance Costs,” or ASU 2015-03. ASU 2015-03 simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this ASU. The amendments in this ASU are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The adoption of this ASU by the Company will change the presentation of debt issuance costs of its notes and loans payable, which will be reported as a direct offset to the applicable debt on the balance sheet. Pursuant to Accounting Standards Update 2015-15 that was issued by the FASB in August 2015, this treatment will not be required for the Company’s line of credit arrangements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” or ASU 2014-09. ASU 2014-09 broadly amends the accounting guidance for revenue recognition. ASU 2014-09 is effective for the first interim or annual period beginning after December 15, 2016 (deferred by one year to December 15, 2017 with ASU 2015-14 issued in August 2015) , and is to be applied prospectively. Early adoption is not permitted. The Company is currently evaluating the impact that ASU 2014-09 will have on its financial statements. In April 2014, the FASB issued Accounting Standards Update 2014-08, “ Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”. ASU 2014-08 updated guidance that changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. As a result of this new guidance, future dispositions of real estate owned assets may no longer meet the criteria to be considered as discontinued operations. The guidance was effective as of the first quarter of 2015 and did not have a material effect on the Company’s consolidated financial statements. Significant Accounting Policies The significant accounting policies used in the preparation of these interim consolidated financial statements are disclosed in the Company’s consolidated financial statements for the year ended December 31, 2014 included in its 2014 annual report on Form 10-K. There have been no significant changes to those significant accounting policies.

Note 3 - Loans and Allowance fo

Note 3 - Loans and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2015
Disclosure Text Block Supplement [Abstract]
Allowance for Credit Losses [Text Block]	NOTE 3 – LOANS AND ALLOWANCE FOR LOAN LOSSES The following tables show the changes in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2015 and 2014 and the allocation of the allowance for loan losses and loans as of September 30, 2015 and December 31, 2014 by portfolio segment and by impairment methodology: 2015 Commercial Residential Land Total Allowance for loan losses: Three Months Ended September 30, 2015 Beginning balance $ 940,215 $ 2,074,617 $ 282,566 $ 3,297,398 Charge-offs — — — — Provision (40,858 ) 85,174 — 44,316 Ending Balance $ 899,357 $ 2,159,791 $ 282,566 $ 3,341,714 Nine Months Ended September 30, 2015 Beginning balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355 Charge-offs — — — — Provision 11,097 184,679 276,583 472,359 Ending balance $ 899,357 $ 2,159,791 $ 282,566 $ 3,341,714 As of September 30, 2015 Ending balance: individually evaluated for impairment $ 480,005 $ 1,839,345 $ — $ 2,319,350 Ending balance: collectively evaluated for impairment $ 419,352 $ 320,446 $ 282,566 $ 1,022,364 Ending balance $ 899,357 $ 2,159,791 $ 282,566 $ 3,341,714 Loans: Ending balance $ 51,011,804 $ 19,779,734 $ 6,042,548 $ 76,834,086 Ending balance: individually evaluated for impairment $ 2,510,752 $ 7,779,694 $ — $ 10,290,446 Ending balance: collectively evaluated for impairment $ 48,501,052 $ 12,000,040 $ 6,042,548 $ 66,543,640 2014 Commercial Residential Land Total Allowance for loan losses: Three Months Ended September 30, 2014 Beginning balance $ 1,507,196 $ 3,249,975 $ 5,269 $ 4,762,440 Charge-offs — — — — Provision 46,937 70,742 1 117,680 Ending Balance $ 1,554,133 $ 3,320,717 $ 5,270 $ 4,880,120 Nine Months Ended September 30, 2014 Beginning balance $ 932,651 $ 3,798,203 $ 8,234 $ 4,739,088 Charge-offs — — — — Provision (reversal) 621,482 (477,486 ) (2,964 ) 141,032 Ending balance $ 1,554,133 $ 3,320,717 $ 5,270 $ 4,880,120 As of December 31, 2014 Ending balance: individually evaluated for impairment $ 550,010 $ 1,839,345 $ — $ 2,389,355 Ending balance: collectively evaluated for impairment $ 338,250 $ 135,767 $ 5,983 $ 480,000 Ending balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355 Loans: Ending balance $ 52,531,537 $ 13,491,906 $ 2,010,068 $ 68,033,511 Ending balance: individually evaluated for impairment $ 12,666,935 $ 7,788,747 $ 1,860,068 $ 22,315,750 Ending balance: collectively evaluated for impairment $ 39,864,602 $ 5,703,159 $ 150,000 $ 45,717,761 The following tables show an aging analysis of the loan portfolio by the time monthly payments are past due as of September 30, 2015 and December 31, 2014: September 30, 2015 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Commercial $ — $ 1,432,000 $ 1,078,752 $ 2,510,752 $ 48,501,052 $ 51,011,804 Residential — — 7,779,694 7,779,694 12,000,040 19,779,734 Land — — — — 6,042,548 6,042,548 $ — $ 1,432,000 $ 8,858,446 $ 10,290,446 $ 66,543,640 $ 76,834,086 December 31, 2014 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Commercial $ — $ — $ 1,078,752 $ 1,078,752 $ 51,452,785 $ 52,531,537 Residential — — 7,788,747 7,788,747 5,703,159 13,491,906 Land — — 1,860,068 1,860,068 150,000 2,010,068 $ — $ — $ 10,727,567 $ 10,727,567 $ 57,305,944 $ 68,033,511 All of the loans that are 90 or more days past due as listed above are on non-accrual status as of September 30, 2015 and December 31, 2014. In addition, two commercial loans totaling $11,588,000 as of December 31, 2014 were considered impaired but were restored to accrual status during 2014 because the Company had received consistent payments from the borrower over a six month period and management expected that the borrower would continue to keep the loans current with respect to principal and interest payments. These two loans were paid off in full during the first quarter of 2015. The following tables show information related to impaired loans as of and for the three and nine months ended September 30, 2015: As of September 30, 2015 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ 1,463,453 $ 1,432,000 $ — Residential 244,694 244,694 — Land — — — $ 1,708,147 $ 1,676,694 $ — With an allowance recorded: Commercial $ 1,144,864 $ 1,078,752 $ 480,005 Residential 7,983,345 7,535,000 1,839,345 Land — — — $ 9,128,209 $ 8,613,752 $ 2,319,350 Total s : Commercial $ 2,608,317 $ 2,510,752 $ 480,005 Residential 8,228,039 7,779,694 1,839,345 Land — — — $ 10,836,356 $ 10,290,446 $ 2,319,350 Three Months Ended September 30, 2015 Nine Months Ended September 30 , 201 5 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 487,818 $ 9,547 $ 2,741,825 $ 611,206 Residential 245,725 5,654 248,762 16,581 Land — — 413,348 216,904 $ 733,543 $ 15,201 $ 3,403,935 $ 844,691 With an allowance recorded: Commercial $ 1,148,627 $ 17,979 $ 1,111,170 $ 40,452 Residential 7,983,345 35,000 7,983,345 157,600 Land — — — — $ 9,131,972 $ 52,979 $ 9,094,515 $ 198,052 Total s : Commercial $ 1,636,445 $ 27,526 $ 3,852,995 $ 651,658 Residential 8,229,070 40,654 8,232,107 174,181 Land — — 413,348 216,904 $ 9,865,515 $ 68,180 $ 12,498,450 $ 1,042,743 The following tables show information related to impaired loans as of December 31, 2014 and for the three and nine months ended September 30, 2014: As of December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ 11,588,183 $ 11,588,183 $ — Residential 253,747 253,747 — Land 1,860,068 1,860,068 — $ 13,701,998 $ 13,701,998 $ — With an allowance recorded: Commercial $ 1,079,699 $ 1,078,752 $ 550,010 Residential 7,983,345 7,535,000 1,839,345 Land — — — $ 9,063,044 $ 8,613,752 $ 2,389,355 Total s : Commercial $ 12,667,882 $ 12,666,935 $ 550,010 Residential 8,237,092 7,788,747 1,839,345 Land 1,860,068 1,860,068 — $ 22,765,042 $ 22,315,750 $ 2,389,355 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 16,410,099 $ 617,507 $ 16,306,543 $ 1,405,623 Residential 2,233,235 — 2,374,941 67,733 Land 1,860,216 38,276 2,633,298 132,916 $ 20,503,550 $ 655,783 $ 21,314,782 $ 1,606,272 With an allowance recorded: Commercial $ 1,910,269 $ 13,484 $ 1,867,315 $ 39,956 Residential 7,983,345 22,000 7,983,373 96,000 Land — — — — $ 9,893,614 $ 35,484 $ 9,850,688 $ 135,956 Total s : Commercial $ 18,320,368 $ 630,991 $ 18,173,858 $ 1,445,579 Residential 10,216,580 22,000 10,358,314 163,733 Land 1,860,216 38,276 2,633,298 132,916 $ 30,397,164 $ 691,267 $ 31,165,470 $ 1,742,228 The recorded investment balances presented in the above tables include amounts advanced in addition to principal on impaired loans (such as property taxes, insurance and legal charges) that are reimbursable by borrowers and are included in interest and other receivables in the accompanying consolidated balance sheets. Interest income recognized on a cash basis for impaired loans approximates the interest income recognized as reflected in the tables above. Troubled Debt Restructurings The Company has allocated approximately $2,319,000 and $2,389,000 of specific reserves on loans totaling approximately $9,373,000 and $20,265,000 (recorded investments before reserves) to borrowers whose loan terms had been modified in troubled debt restructurings as of September 30, 2015 and December 31, 2014, respectively. The Company has not committed to lend additional amounts to any of these borrowers. No loans were modified as troubled debt restructurings during the three and nine months ended September 30, 2015 and 2014.

Note 4 - Investment in Limited

Note 4 - Investment in Limited Liability Company	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 4 – INVESTMENT IN LIMITED LIABILITY COMPANY During 2008, the Company entered into an operating agreement (the “Operating Agreement”) of 1850 De La Cruz LLC, a California limited liability company (“1850”), with Nanook Ventures LLC (“Nanook”), an unrelated party. The purpose of the joint venture is to acquire, own and operate certain industrial land and buildings located in Santa Clara, California that were owned by the Company. The property was subject to a Purchase and Sale Agreement dated July 24, 2007 (the “Sale Agreement”), as amended, between the Company, as seller, and Nanook, as buyer. During the course of due diligence under the Sale Agreement, it was discovered that the property was contaminated and that remediation and monitoring may be required. The parties agreed to enter into the Operating Agreement to restructure the arrangement as a joint venture. At the time of closing in July 2008, the two properties were separately contributed to two new limited liability companies, Nanook Ventures One LLC and Nanook Ventures Two LLC that are wholly owned by 1850. The Company and Nanook are the Members of 1850 and NV Manager, LLC is the manager. (See Note 13 for further discussion of the Company’s environmental remediation obligation with respect to the properties owned by 1850.) The Company received distributions from 1850 of $0 and $85,000 during the three and nine months ended September 30, 2015, respectively, and $0 and $84,000 during the three and nine months ended September 30, 2014, respectively. The net income to the Company from its investment in 1850 De La Cruz was approximately $45,000 and $44,000 during the three months ended September 30, 2015 and 2014, respectively, and $130,000 and $126,000 during the nine months ended September 30, 2015 and 2014, respectively.

Note 5 - Real Estate Held for S

Note 5 - Real Estate Held for Sale	9 Months Ended
	Sep. 30, 2015
Disclosure Text Block [Abstract]
Real Estate Owned [Text Block]	NOTE 5 - REAL ESTATE HELD FOR SALE Real estate properties held for sale as of September 30, 2015 and December 31, 2014 consists of properties acquired through foreclosure classified by property type as follows: September 30, 2015 December 31, 2014 Land (including land under development) $ 40,300,887 $ 36,263,330 Retail — 16,494,440 Residential 54,222,726 — Office 4,716,159 4,716,159 Industrial 1,422,308 — Storage 3,782,526 — Marina 236,500 — Golf course — 2,020,410 $ 104,681,106 $ 59,494,339 During the three months ended September 30, 2015, the Company transferred four properties (one residential, one industrial, one marina and one storage) from “Held for Investment” to “Held for Sale” as the properties are now listed for sale and sales are expected within the next year. During the nine months ended September 30, 2015, the Company transferred one golf course property from “Held for Sale” to “Held for Investment” as the property was no longer listed for sale and a sale was not expected within the next year. As a result of this transfer, the Company recorded approximately $79,000 of depreciation expense that would have previously been recorded had the property been continuously classified as “Held for Investment”. During the quarter ended September 30, 2014, the Company transferred one retail property and one residential property from “Held for investment” to “Held for sale” because the properties were listed for sale and sales were expected within the next year. During the nine months ended September 30, 2014, the Company transferred one parcel of land from “Held for sale” to “Held for investment” because the property was no longer listed for sale and a sale was not likely within the next year. During the nine months ended September 30, 2015, the Company recorded impairment losses of approximately $1,256,000 on the unimproved residential and commercial land located in Gypsum, Colorado due to a decrease in the listing price of the property and a reduction in the net fair market value estimated by management. During the three and nine months ended September 30, 2014, the Company recorded impairment losses of $124,000 and $179,000, respectively, on the marina property located in Oakley, California due to a decrease in the listing price of the property and a reduction in the fair market value recently estimated by management. There were no sales during the three months ended September 30, 2015. During the nine months ended September 30, 2015, the Company sold four real estate properties for net sales proceeds aggregating approximately $34,865,000, resulting in gains on sale of real estate totaling approximately $14,879,000. In addition, the Company recognized gain of approximately $152,000 during the nine months ended September 30, 2015 that had previously been deferred related to the sale of a real estate property in 2012. The gain on the sale of this property was being accounted for under the installment method. There were no sales during the three and nine months ended September 30, 2014; however, gains totaling approximately $2,626,000 were recognized during the nine months ended September 30, 2014 that had previously been deferred related to the sales of real estate properties in 2012 and 2013. The gains on the sales of the properties were being recognized under the installment method.

Note 6 - Real Estate Held for I

Note 6 - Real Estate Held for Investment	9 Months Ended
	Sep. 30, 2015
Real Estate Held For Investment Disclosure [Abstract]
Real Estate Held For Investment Disclosure [Text Block]	NOTE 6 - REAL ESTATE HELD FOR INVESTMENT Real estate held for investment as of September 30, 2015 and December 31, 2014 consists of properties acquired through foreclosure classified by property type as follows: September 30, 2015 December 31, 2014 Land $ 8,839,255 $ 10,797,656 Residential 6,721,923 48,154,258 Retail 23,278,649 23,211,896 Assisted care 5,073,316 5,005,000 Office 4,300,543 4,416,108 Industrial — 4,486,797 Storage — 3,847,884 Marina 3,740,468 3,602,867 Golf course 1,951,253 — $ 53,905,407 $ 103,522,466 The balances of land and the major classes of depreciable property for real estate held for investment as of September 30, 2015 and December 31, 2014 are as follows: September 30, 2015 December 31, 2014 Land and land improvements $ 24,047,216 $ 39,003,422 Buildings and improvements 32,449,622 70,594,331 56,496,838 109,597,753 Less: Accumulated depreciation (2,591,431 ) (6,075,287 ) $ 53,905,407 $ 103,522,466 It is the Company’s intent to sell its real estate properties held for investment, but expected sales of these properties are not probable to occur within the next year. Depreciation expense was approximately $505,000 and $523,000 for the three months ended September 30, 2015 and 2014, respectively, and $1,647,000 and $1,563,000 for the nine months ended September 30, 2015 and 2014, respectively. During the quarter ended September 30, 2014, the Company sold one of the improved, residential lots located in West Sacramento, California for $175,000, resulting in a gain to the Company of approximately $105,000. The remaining lot was then transferred to “Held for sale” as it is now listed for sale and a sale is expected within the next year. 2015 Foreclosure Activity The Company foreclosed on no loans during the three and nine months ended September 30, 2015. 2014 Foreclosure Activity During the nine months ended September 30, 2014, Sandmound Marina, LLC (“Sandmound”) (wholly owned by the Company) foreclosed on a first mortgage loan secured by unimproved land and a marina and campground located in Bethel Island, California with a principal balance of approximately $2,960,000 and obtained the properties via the trustee’s sale. In addition, advances made on the loan or incurred as part of the foreclosure (such as legal fees and delinquent property taxes) in the total amount of approximately $282,000 were capitalized to the basis of the properties. The fair market values of the properties acquired were estimated to be higher than Sandmound’s recorded investment in the subject loan, and, thus, a gain on foreclosure in the amount of approximately $257,000 was recorded. The properties have been classified as held for investment as sales are not expected within one year. Certain of the Company’s real estate properties held for sale and investment are leased to tenants under noncancellable leases with remaining terms ranging from one to nine years. Certain of the leases require the tenant to pay all or some operating expenses of the properties. The future minimum rental income from noncancellable operating leases due within the five years subsequent to September 30, 2015 and thereafter is as follows: Twelve months ending September 30: 2016 $ 5,501,140 2017 2,081,943 2018 1,711,319 2019 1,382,710 2020 480,682 Thereafter (through 2024) 1,345,092 $ 12,502,886

Note 7 - Lines of Credit Payabl

Note 7 - Lines of Credit Payable	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 7 – LINES OF CREDIT PAYABLE The Company borrows funds under the revolving California Bank & Trust (“CB&T”) line of credit and the revolving Opus Bank (“Opus”) line of credit (collectively, the “Funding Agreements”). As of September 30, 2015 and December 31, 2014, the outstanding balances and total commitments under the Funding Agreements consisted of the following: As of September 30 , 201 5 As of December 31, 201 4 Outstanding Balance Total Commitment Outstanding Balance Total Commitment CB&T Line of Credit $ 8,954,000 $ 17,992,910 $ 11,450,000 $ 17,355,000 Opus Bank Line of Credit — 12,626,000 — 16,721,000 Total $ 8,954,000 $ 30,618,910 $ 11,450,000 $ 34,076,000 The Funding Agreements are generally collateralized by assignments of specific loans and real estate properties owned by the Company. CB&T Line of Credit In February 2014, the Company entered into a Credit Agreement and Advance Formula Agreement and related agreements with CB&T as the lender (the “CB&T Credit Facility”), which agreements were amended and restated in April 2015 to increase the maximum potential borrowings and to add First Bank as an additional lender. The maximum borrowings available (total commitment) under the amended facility is the lesser of $30,000,000 or the amount determined pursuant to a borrowing base calculation described in the Advance Formula Agreement. Borrowings mature on February 5, 2016. Such borrowings bear interest payable monthly at the prime rate of interest established by CB&T from time-to-time plus one quarter percent (.25%) per annum (3.5% at September 30, 2015). Upon a default such interest rate increases by 2.00%. The CB&T Credit Facility required the payment of an origination fee of $100,000 and other issuance costs totaling $177,000 that were capitalized to deferred financing costs and are being amortized to interest expense using the straight-line method through the maturity date of the CB&T Credit Facility. The Company is also subject to certain ongoing administrative fees and expenses. Interest expense on the CB&T Credit Facility was approximately $70,000 and $171,000 during the three months ended September 30, 2015 and 2014, respectively (including $36,000 and $23,000, respectively, in amortization of deferred financing costs) and $297,000 and $287,000 during the nine months ended September 30, 2015 and 2014, respectively (including $90,000 and $46,000, respectively, in amortization of deferred financing costs). Borrowings are secured by certain assets of the Company. These collateral assets will include the grant to the lenders of first-priority deeds of trust on certain real property assets and trust deeds of the Company to be identified by the parties from time-to-time and all personal property of the Company, which collateral includes the assets described in the Security Agreement and in other customary collateral agreements that will be entered into by the parties from time-to-time. As of September 30, 2015, the carrying amount and classification of loans and real estate properties securing the CB&T Credit Facility were as follows: Loans: September 30 , 201 5 Commercial $ 15,996,624 Real Estate: Residential 6,852,989 Storage 3,782,526 Total $ 10,635,515 The CB&T Credit Facility agreements contain financial covenants which are customary for a loan of this type. Management is not aware of any breach of these covenants as of September 30, 2015. Opus Bank Line of Credit In April 2014, the Company entered into a Secured Revolving Credit Loan Agreement (the “Opus Credit Agreement”) and related agreements with Opus as the lender (the “Opus Credit Facility”). The maximum borrowings available (total commitment) under the facility is the lesser of $20,000,000 or the Maximum Allowed Advance amount determined pursuant to a borrowing base calculation described in the Opus Credit Agreement. Advances under the Opus Credit Facility may be made by Opus until April 1, 2016. All borrowings under the Opus Credit Facility bear interest payable monthly as follows: (i) commencing October 1, 2014, and on each successive six month anniversary during the term (the “Rate Change Date”), the rate of interest will be reset to the Six Month LIBOR rate of interest as reported on such Rate Change Date plus four percent (4.0%) per annum but in no event will the interest rate be lower than 4.5% per annum. The interest rate as of September 30, 2015 was 4.5%. Upon a default under the Opus Credit Facility such interest rate increases by an additional 5.00%. Commencing on May 1, 2016, in addition to the required interest payments, the Company is also required to make mandatory monthly principal payments and all amounts under the Opus Credit Facility are to be repaid not later than April 1, 2017. The Opus Credit Facility required the payment of an origination fee of $100,000 and other issuance costs totaling $231,000 that were capitalized as deferred financing costs and are being amortized to interest expense using the straight-line method through the maturity date of the Opus Credit Facility. The Company is also subject to certain ongoing administrative fees and expenses. Interest expense on the Opus Credit Facility was approximately $19,000 and $40,000 during the three months ended September 30, 2015 and 2014, respectively (including $19,000 and $19,000, respectively, in amortization of deferred financing costs) and $58,000 and $53,000 during the nine months ended September 30, 2015 and 2014, respectively (including $58,000 and $32,000, respectively, in amortization of deferred financing costs). Borrowings under the Opus Credit Facility will be secured by certain of the Company's assets. These collateral assets will include the following types of assets to be identified by the parties and described in Borrowing Base Collateral Certificates to be entered into by the parties from time-to-time: (i) the grant to Opus of first-priority deeds of trust on certain of the Company's real property assets that meet related eligibility requirements set forth in the Opus Credit Agreement (as further defined in the Opus Credit Agreement, the “REO Collateral”); and (ii) the grant to Opus of a collateral interest in mortgage loan promissory notes issued by the Company in the ordinary course of business that meet related eligibility requirements set forth in the Opus Credit Agreement (as further defined in the Opus Credit Agreement, the “Note Collateral”). As of September 30, 2015, the carrying amount and classification of loans and real estate properties securing the Opus Credit Facility were as follows: Loans: September 30 , 201 5 Commercial $ 8,425,924 Real Estate: Office 9,016,702 Industrial 1,422,308 Total $ 10,439,010 The Opus Credit Facility contains financial covenants which are customary for loans of this type. Management is not aware of any breach of these covenants as of September 30, 2015.

Note 8 - Notes and Loans Payabl

Note 8 - Notes and Loans Payable on Real Estate	9 Months Ended
	Sep. 30, 2015
Disclosure Text Block [Abstract]
Mortgage Notes Payable Disclosure [Text Block]	NOTE 8 - NOTES AND LOANS PAYABLE ON REAL ESTATE The Company had the following notes and loans payable outstanding as of September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 Interest Rate Payment Terms/ Frequency Maturity Date 720 University, LLC Note Payable $ — $ 9,741,463 6.00 % Interest Only Monthly Paid off Tahoe Stateline Venture, LLC Note #1 2,900,000 2,900,000 5.00 % Interest Only Semi-annual December 2016 Tahoe Stateline Venture, LLC Note #2 500,000 500,000 5.00 % Interest Only Quarterly August 2017 TOTB North, LLC Construction Loan Payable 10,945,502 1,007,919 4.50 % Amortizing Monthly June 2017 TOTB Miami, LLC Loan Payable 12,754,415 12,975,167 4.33 % Amortizing Monthly November 2017 Tahoe Stateline Venture, LLC Loan Payable 14,097,865 10,445,000 3.47 % Amortizing Monthly January 2021 $ 41,197,782 $ 37,569,549 The following table shows maturities by year on these notes and loans payable as of September 30, 2015: Twelve months ending September 30: 2016 $ 652,322 2017 15,032,576 2018 12,573,703 2019 416,904 2020 431,603 Thereafter 12,090,674 $ 41,197,782 720 University, LLC Note Payable The Company had a note payable with a bank through its investment in 720 University, LLC (“720 University), which was secured by the retail development located in Greeley, Colorado. In November 2014, 720 University entered into an agreement to sell the property that secured this note payable, and the buyer extended a new loan to 720 University to repay the existing note payable. The refinancing closed in January 2015. The principal amount of the new loan was $9,771,263 and accrued interest at 6.0% per annum until paid off with the closing of the sale of the property to the buyer which occurred on June 15, 2015. 720 University incurred interest expense of approximately $0 and $127,000 during the three months ended September 30, 2015 and 2014, respectively, and $265,000 and $378,000 during the nine months ended September 30, 2015 and 2014, respectively. Tahoe Stateline Venture, LLC Notes Payable The Company obtained these obligations as a result of the foreclosure or purchase of nine parcels by Tahoe Stateline Venture, LLC (“TSV”) in 2013 and 2012. The Company paid approximately $91,000 and $107,000 of interest on the notes during the nine months ended September 30, 2015 and 2014, respectively. As of September 30, 2015 and December 31, 2014, there was approximately $55,000 and $19,000, respectively, in accrued but unpaid interest on these notes. The interest incurred has been capitalized to the basis of the land under development. TOTB North, LLC Construction Loan Payable In June 2014, TOTB North, LLC (“TOTB North”) entered into a Construction Loan Agreement (the “Loan Agreement”) and related documents with Bank of the Ozarks (“Ozarks”) as the lender providing TOTB North with a loan (the “North Loan”) of up to $21,304,000 to renovate and improve the vacant and unimproved “North” apartment building held in TOTB North (the “Project”). The North Loan is secured by a first mortgage lien on the North building and all improvements and certain other assets, and is cross-defaulted and cross-collateralized with the TOTB Miami, LLC Loan Payable described below. The initial maturity date (the “Maturity Date”) of the North Loan is June 12, 2017, which may be extended at the option of TOTB North for two additional one year periods, subject to certain conditions. The balance of the loan was approximately $10,946,000 and $1,008,000 as of September 30, 2015 and December 31, 2014, respectively. All outstanding borrowings under the North Loan bear interest equal to the floating daily Three Month LIBOR rate of interest plus four percent (4.0%) per annum (the “Note Rate”), but the Note Rate will not be lower than four and one-half percent (4.5%) per annum. The Note Rate as of September 30, 2015 was 4.5% per annum. Upon a default under the North Loan documents the Note Rate increases by an additional eight percent (8.00%) per annum. Interest only payments are payable monthly until the “Amortization Commencement Date” which is the earlier to occur of (i) December 12, 2015 or (ii) the first monthly interest payment date occurring after the Project is completed and the North property achieves a DSCR of greater than 1.25:1. Commencing on the Amortization Commencement Date, monthly principal payments are also required with principal amortizing over 300 months and the balance of the North Loan is due on the Maturity Date. TOTB North made a required deposit with Ozarks of $1.0 million (the “Bridge Equity”) in 2014 using a capital contribution by TOTB (excess funds held and capital contributions of $453,000 from the Company and $108,000 from OFG). The Bridge Equity was provided to fund project costs pending satisfaction of additional post-closing conditions under the loan documents, and Ozarks reimbursed the Bridge Equity as part of the loan in February 2015. All post-closing conditions were met in February 2015, and TOTB North was given access to the remaining balance of the North Loan once the Company and OFG contributed an additional $1,170,000 and $279,000, respectively, during the first quarter of 2015 due to increased construction costs for the Project. During 2014, TOTB North paid customary closing fees, disbursements and expenses, including an origination fee to Ozarks, which totaled $622,000. The majority of these costs were paid out of proceeds from the North Loan and capitalized to deferred financing costs and are being amortized to the Project using the straight-line method through the Maturity Date. During the three and nine months ended September 30, 2015, approximately $52,000 and $156,000, respectively, of deferred financing costs were amortized to the Project. During the three and nine months ended September 30, 2014, approximately $52,000 and $69,000, respectively, of deferred financing costs were amortized to the Project. During the three and nine months ended September 30, 2015, approximately $91,000 and $133,000, respectively, of interest was incurred which was capitalized to the Project. During the three and nine months ended September 30, 2014, approximately $9,000 and $10,000, respectively, of interest was incurred which was capitalized to the Project. The North Loan documents contain financial covenants of TOTB North and the Guarantors which are customary for loans of this type. Management is not aware of any breach of these covenants as of September 30, 2015. TOTB Miami, LLC Loan Payable In November 2014, TOTB Miami, LLC (“TOTB”) entered into another loan agreement (the “TOTB Loan Agreement”) and related documents with Ozarks providing TOTB a loan (the “TOTB Miami Loan”) of $13,000,000 secured by a first mortgage lien on the 154 leased condominium units owned in the Pointe building and the related parcel and all improvements as well as certain other assets. As a condition of providing the TOTB Miami Loan, Ozarks required that the TOTB Miami Loan and the North Loan be cross-collateralized and cross-defaulted, that excess proceeds from any sale of the North property be used to reduce or pay off the TOTB Miami Loan and that excess proceeds from any sale of the TOTB property be used to pay off the North Loan. The net cash proceeds from the TOTB Miami Loan were distributed to the members of TOTB in 2014. The initial maturity date (the “Maturity Date”) of the TOTB Miami Loan is November 16, 2017, and the Maturity Date may be extended at the option of TOTB for two additional one year periods if a number of conditions are met. All outstanding borrowings under the TOTB Miami Loan will bear interest equal to the floating daily Three Month LIBOR rate of interest plus four percent (4.0%) per annum (the “Note Rate”), but in no event will the Note Rate be lower than four and one-quarter percent (4.25%) per annum. The Note Rate as of September 30, 2015 was 4.33% per annum. Upon a default under the TOTB Miami Loan documents, including any cross-default, the Note Rate increases by an additional eight percent (8.00%) per annum. Principal and interest is payable monthly with principal amortizing over 300 months, and the balance of the loan is due on the Maturity Date. TOTB was obligated to pay customary closing fees, disbursements and expenses, including an origination fee to the Lender, which totaled approximately $323,000. The majority of these costs were paid out of proceeds from the loan and capitalized to deferred financing costs and are being amortized to interest expense using the effective interest method through the Maturity Date. During the three and nine months ended September 30, 2015, approximately $166,000 and $497,000, respectively, of interest expense was incurred (including approximately $33,000 and $92,000, respectively, of deferred financing costs amortized to interest expense). The TOTB Miami Loan documents contain financial covenants of TOTB and the Guarantors which are customary for loans of this type. Management is not aware of any breach of these covenants as of September 30, 2015. Tahoe Stateline Venture, LLC Loan Payable In December 2014, Tahoe Stateline Ventures, LLC (“TSV”) entered into a Credit Agreement (the “Credit Agreement”) and related documents with RaboBank, N.A. as the lender (“Lender”) providing TSV with a loan (the “TSV Loan”) of up to $14,500,000. TSV borrowed $10,445,000 at the first closing under the TSV Loan and an additional $3,830,000 was borrowed in September 2015. The maturity date of the TSV Loan is January 1, 2021 (the “Maturity Date”). All outstanding borrowings under the TSV Loan documents bear interest initially at a rate of 3.47% per annum (the “Long Term Adjustable Rate”), provided that on January 1, 2018 the Long Term Adjustable Rate will be reset to Lender’s then current market rate for three year fixed rate loans from comparable commercial real estate secured transactions, as determined by Lender in its sole discretion. Upon a default under the TSV Loan documents, the interest rate on the outstanding principal balance increases by an additional five percent (5.00%) per annum and the rate on any other outstanding obligations thereunder increases to ten percent (10.00%) per annum. Prepayments under the TSV Loan documents are subject to certain prepayment fees; provided that during the 90 day period immediately prior to January 1, 2018, and the 90 day period immediately prior to the Maturity Date, TSV may prepay the entire unpaid balance of the Loan in full, without any Prepayment Fee or penalty. During the term of the TSV Loan, TSV will make equal combined payments of principal and accrued interest on the first day of each month in an amount calculated to fully amortize the original principal amount over a period of 300 months, subject to certain adjustments and the balance of the TSV Loan is due on the Maturity Date. The Credit Agreement required the payment of a closing fee of $108,750 and certain administrative fees totaling approximately $218,000. The TSV Loan documents contain financial covenants which are customary for loans of this type . Management is not aware of any breach of these covenants as of September 30, 2015.

Note 9 - Transactions with Affi

Note 9 - Transactions with Affiliates	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 9 - TRANSACTIONS WITH AFFILIATES In consideration of the management services rendered to the Company, OFG is entitled to receive from the Company a management fee payable monthly, subject to a maximum of 2.75% per annum of the average unpaid balance of the Company’s loans. All of the Company’s loans are serviced by OFG, in consideration for which OFG receives a monthly fee, which, when added to all other fees paid in connection with the servicing of a particular loan, does not exceed the lesser of the customary, competitive fee paid in the community where the loan is placed for the provision of such mortgage services on that type of loan, or up to 0.25% per annum of the unpaid principal balance of the loans. OFG, at its sole discretion may, on a monthly basis, adjust the management and servicing fees as long as they do not exceed the allowable limits calculated on an annual basis. Even though the fees for a month may exceed 1 The maximum management and servicing fees were paid to OFG during the three and nine months ended September 30, 2015 and 2014. In determining the management fees to pay to OFG, OFG may consider a number of factors, including current market yields, delinquency experience, un-invested cash and real estate activities. During the three and nine months ended September 30, 2015 and 2014, OFG elected to take the maximum compensation that it is able to take pursuant to the Management Agreement and will likely continue to take the maximum compensation for the foreseeable future. Pursuant to the charter, OFG receives all late payment charges from borrowers on loans owned by the Company. The amounts paid to or collected by OFG for such charges totaled approximately $0 and $2,000 for the three months ended September 30, 2015 and 2014, respectively, and $17,000 and $4,000 for the nine months ended September 30, 2015 and 2014, respectively. In addition, the Company remits other miscellaneous fees to OFG, which are collected from loan payments, loan payoffs or advances from loan principal (i.e. funding, demand and partial release fees). The amounts paid to or collected by OFG for such fees totaled approximately $2,000 and $1,000, respectively, during the three months ended September 30, 2015 and 2014 and $6,000 and $2,000, respectively, during the nine months ended September 30, 2015 and 2014, respectively. OFG originates all loans the Company invests in and receives loan origination and extension fees from borrowers. During the three and nine months ended September 30, 2015, OFG earned approximately $289,000 and $1,001,000, respectively, on loans originated or extended of approximately $11,982,000 and $42,034,000, respectively. During the three and nine months ended September 30, 2014, OFG earned approximately $186,000 and $726,000, respectively, on loans originated or extended of approximately $8,025,000 and $30,226,000, respectively. OFG is reimbursed by the Company for the actual cost of goods, services and materials used for or by the Company and paid by OFG and the salary and related salary expense of OFG’s non-management and non-supervisory personnel performing services for the Company which could be performed by independent parties (subject to certain limitations in the Management Agreement and the Company’s charter). The total OFG reimbursements expensed by the Company for such services were $130,000 and $167,000 during the three months ended September 30, 2015 and 2014, respectively, and $394,000 and $507,000 during the nine months ended September 30, 2015 and 2014, respectively. As of September 30, 2015 and December 31, 2014, there was $43,000 and $113,000 payable to OFG for such services. The Company also reimbursed certain of OFG’s officers for allowed expenses in the total amount of $1,000 and $1,000 during the nine months ended September 30, 2015 and 2014, respectively. The Company paid Investor’s Yield, Inc. (a wholly owned subsidiary of OFG) approximately $7,000 and $30,000 during the nine months ended September 30, 2015 and 2014, respectively, in fees primarily related to certain foreclosure proceedings on Company loans. During the nine months ended September 30, 2015, the Company purchased OFG’s full interest in a loan secured by an industrial property located in San Ramon, California with a principal balance of $1,499,000 at face value.

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 10 – STOCKHOLDERS’ EQUITY Dividends On March 18, 2015, the board of directors declared a $0.07 dividend on our shares of common stock to holders of record as of March 31, 2015. The dividend was paid on April 14, 2015 and totaled $753,760. On June 19, 2015, the board of directors declared a $0.18 dividend on our shares of common stock to holders of record as of June 30, 2015. The dividend was paid on July 14, 2015 and totaled $1,938,240. On September 18, 2015, the board of directors declared a $0.08 dividend on our shares of common stock to holders of record as of September 30, 2015. The dividend was paid on October 14, 2015 and totaled $835,533. As of September 30, 2015, the Company has net capital gains from the sales of real estate properties totaling approximately $12,710,000. It is the intention of management to retain all net capital gains within the Company and not distribute them as is permitted for a REIT. However, the retained net capital gains will be taxable to shareholders and will require the Company to make a tax payment to the U.S Treasury Department on behalf of shareholders at the highest corporate tax rate (currently 35%), which are to be reflected as tax payments on shareholders’ tax returns. Such payments will be recorded as dividends in the Company’s financial statements. Stock Repurchase Programs On August 9, 2013, the Board of Directors authorized a Rule 10b5-1 stock repurchase plan (the “2013 Repurchase Plan”) which permitted the Company to purchase up to the lesser of $7 million of its common stock or five percent of the shares of common stock outstanding as of that date. A Rule 10b5-1 plan permits the Company to repurchase shares at times when it might otherwise be prevented from doing so. During the nine months ended September 30, 2014, the Company repurchased 26,208 shares of its common stock for a total cost of approximately $325,000 (including commissions) and an average cost of $12.42 per share. The 2013 Repurchase Plan expired on May 19, 2014, and as of that date, the Company had repurchased 430,118 shares of its common stock, for a total cost of approximately $5,349,000 (including commissions) and an average cost of $12.44 per share. On May 27, 2015, the Board of Directors authorized a new Rule 10b5-1 stock repurchase plan (the “2015 Repurchase Plan”) under which the Company may purchase up to $7.5 million of its common stock. Under the 2015 Repurchase Plan, repurchases will be funded from available working capital, and the repurchased shares will return to the status of authorized but unissued shares of common stock. Repurchases under the 2015 Repurchase Plan are subject to certain price, volume and timing constraints specified in the brokerage agreement. There is no guarantee as to the exact number of shares that will be repurchased by the Company. The 2015 Repurchase Plan permits repurchases commencing on June 27, 2015 and expires by its terms on May 12, 2016, although the Company may terminate the 2015 Repurchase Plan at any time. During the quarter ended September 30, 2015, the Company repurchased 360,263 shares of its common stock under this new plan for a total cost of approximately $5,253,000 (including commissions) and an average cost of $14.58 per share and repurchased another 66,528 shares in October 2015 (subsequent to quarter end) for a total cost of approximately $938,000 (including commissions) and an average cost of $14.10 per share.

Note 11 - Restricted Cash

Note 11 - Restricted Cash	9 Months Ended
	Sep. 30, 2015
Loss Contingency [Abstract]
Contingencies Disclosure [Text Block]	NOTE 11 – RESTRICTED CASH Contingency Reserves In accordance with the charter, the Company is required to maintain cash, cash equivalents and marketable securities as contingency reserves in an aggregate amount of 1-1/2% of Capital as defined in the charter. Although the Manager believes the contingency reserves are adequate, it could become necessary for the Company to sell or otherwise liquidate certain of its investments or other assets to cover such contingencies on terms which might not be favorable to the Company, which could lead to unanticipated losses upon sale of such assets. The contingency reserves required per the charter as of September 30, 2015 and December 31, 2014 were approximately $4,009,000 and $3,876,000, respectively, and are reported as part of restricted cash in the accompanying consolidated balance sheets. $7,000,000 is required to be held in non-interest bearing accounts pursuant to the Company’s two lines of credit agreements, which also satisfies the contingency reserve requirement in the charter. Escrow Deposits Restricted cash includes deposits held in third party escrow accounts to fund construction costs and replacement reserves and to pay property taxes and insurance on Company real estate in the amounts of approximately $495,000 and $249,000 as of September 30, 2015 and December 31, 2014, respectively.

Note 12 - Fair Value

Note 12 - Fair Value	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	NOTE 12 – FAIR VALUE The Company accounts for its financial and nonfinancial assets and liabilities pursuant to ASC 820 – Fair Value Measurements and Disclosures Fair value is defined in ASC 820 as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in active markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities Level 3 Unobservable inputs that are supported by little or no market activity, such as the Company’s own data or assumptions. Level 3 inputs include unobservable inputs that are used when there is little, if any, market activity for the asset or liability measured at fair value. In certain cases, the inputs used to measure fair value fall into different levels of the fair value hierarchy. In such cases, the level in which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement. Management’s assessment of the significance of a particular input requires judgment and considers factors specific to the asset or liability being measured. Management monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. Management evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total assets, total liabilities or total earnings. The following is a description of the Company’s valuation methodologies used to measure and disclose the fair values of its financial and nonfinancial assets and liabilities on a nonrecurring basis. There were no assets or liabilities measured at fair value on a recurring basis. Impaired Loans The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and a specific allowance for loan losses is established. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement or when monthly payments are delinquent greater than ninety days. Once a loan is identified as impaired, management measures impairment in accordance with ASC 310-10-35. The fair value of impaired loans is estimated by either an observable market price (if available) or the fair value of the underlying collateral, if collateral dependent. The fair value of the loan’s collateral is determined by third party appraisals (by licensed appraisers), broker price opinions, comparable properties or other indications of value. Those impaired loans not requiring an allowance represent loans for which the fair value of the collateral exceed the recorded investments in such loans. At September 30, 2015 and December 31, 2014, the majority of the total impaired loans were evaluated based on the fair value of the collateral by obtaining third party appraisals that valued the collateral primarily by utilizing an income or market approach or some combination of the two. In accordance with ASC 820, impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. Because appraisals used by management generally include significant unobservable inputs and market data, the Company records the impaired loan as nonrecurring Level 3. Unobservable market data included in appraisals often includes adjustments to comparable property sales for such items as location, size and quality to estimate fair values using a sales comparison approach. Unobservable market data also includes cash flow assumptions and capitalization rates used to estimate fair values under an income approach. Real Estate Held for Sale and Investment Real estate held for sale and investment includes properties acquired through foreclosure of the related loans. When property is acquired, any excess of the Company’s recorded investment in the loan and accrued interest income over the estimated fair market value of the property, net of estimated selling costs, is charged against the allowance for loan losses. Subsequently, real estate held for sale properties are carried at the lower of carrying value or fair value less costs to sell. The Company periodically compares the carrying value of real estate held for investment to expected future cash flows as determined by internally or third party generated valuations (including third party appraisals that primarily utilize an income or market approach or some combination of the two) for the purpose of assessing the recoverability of the recorded amounts. If the carrying value exceeds future undiscounted cash flows, the assets are reduced to fair value. The fair value of real estate held for sale and investment is estimated using appraisals in a manner similar to that of collateral dependent impaired loans described above which generally results in a Level 3 classification in the fair value hierarchy. The following table presents information about the Company’s assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2015 and December 31, 2014: Fair Value Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2015 Nonrecurring: Impaired loans: Commercial $ 664,859 $ — $ — $ 664,859 Residential 6,144,000 — — 6,144,000 Total $ 6,808,859 $ — $ — $ 6,808,859 Real estate properties: Land $ 4,557,000 $ — $ — $ 4,557,000 Total $ 4,557,000 $ — $ — $ 4,557,000 December 31, 2014 Nonrecurring: Impaired loans: Commercial $ 529,689 $ — $ — $ 529,689 Residential 6,144,000 — — 6,144,000 Total $ 6,673,689 $ — $ — $ 6,673,689 Real estate properties: Commercial $ 1,292,500 $ — $ — $ 1,292,500 Land 2,334,773 — — 2,334,773 Total $ 3,627,273 $ — $ — $ 3,627,273 The (reversal of) provision for loan losses based on the fair value of loan collateral less estimated selling costs for the impaired loans above totaled approximately $(64,000) and $8,000 during the three months ended September 30, 2015 and 2014, respectively, and $(70,000) and $81,000 during the nine months ended September 30, 2015 and 2014, respectively. Impairment losses were recorded on real estate properties in the amounts of approximately $0 and $124,000 during the three months ended September 30, 2015 and 2014, respectively, and $1,256,000 and $179,000 during the nine months ended September 30, 2015 and 2014, respectively. There were no liabilities measured at fair value on a non-recurring basis at September 30, 2015 and December 31, 2014. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2015 and December 31, 2014: At September 30, 2015 Description Fair Value Valuation Technique Significant Unobservable Inputs Input/Range Weighted Average Impaired Loans: Commercial $ 664,859 Appraisal Estimated Cost of Improvements 31.9% N/A Capitalization Rate 7% N/A Comparable Sales Adjustment (20)% to 30% N/A Residential $ 6,144,000 Appraisal Estimated Cost of Improvements 1.8% N/A Discount Rate 12% N/A Comparable Sales Adjustment (10)% to 20% N/A Real Estate Properties: Land $ 4,557,000 Appraisal Comparable Sales Adjustment (19%) N/A At December 31, 2014 Description Fair Value Valuation Technique Significant Unobservable Inputs Input/Range Weighted Average Impaired Loans: Commercial $ 529,689 Appraisal Estimate Cost of Improvements 13.6% N/A Capitalization Rate 6.5% N/A Comparable Sales Adjustment (59)% to (2.3)% N/A Residential $ 6,144,000 Appraisal Estimate Cost of Improvements 1.8% N/A Discount Rate 12% N/A Comparable Sales Adjustment (10)% to 20% N/A Real Estate Properties: Commercial $ 1,292,500 Appraisal Comparable Purchase Offers (42)% to 13.4% N/A Land $ 2,334,773 Appraisal Comparable Sales Adjustment 5% to 62.8% N/A Discount Rate 8% N/A Where only one percentage is presented in the above table there was only one unobservable input of that type for one loan or property. Adjustments to comparable sales included items such as market conditions, location, size, condition, access/frontage and intended use. A weighted average of an unobservable input is presented in the table above only to the extent there was multiple impaired loans or real estate properties within that class measured at fair value on a nonrecurring basis. The approximate carrying amounts and estimated fair values of financial instruments at September 30, 2015 and December 31, 2014 are as follows: Fair Value Measurements at September 30 , 201 5 Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 6,708,000 $ 6,708,000 $ — $ — $ 6,708,000 Restricted cash 7,495,000 7,495,000 — — 7,495,000 Loans, net 73,492,000 — — 73,469,000 73,469,000 Investment in limited liability company 2,188,000 — — 2,352,000 2,352,000 Accrued interest and advances receivable 1,026,000 — — 1,026,000 1,026,000 Financial liabilities Due to Manager $ 235,000 $ — $ 235,000 $ — $ 235,000 Accrued interest payable 186,000 — 132,000 54,000 186,000 Lines of credit payable 8,954,000 — 8,954,000 — 8,954,000 Notes and loans payable 41,198,000 — 37,798,000 3,400,000 41,198,000 Fair Value Measurements at December 31, 2014 Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 1,414,000 $ 1,414,000 $ — $ — $ 1,414,000 Restricted cash 6,249,000 6,249,000 — — 6,249,000 Loans, net 65,164,000 — — 66,009,000 66,009,000 Investment in limited liability company 2,143,000 — — 2,352,000 2,352,000 Accrued interest and advances receivable 838,000 — — 838,000 838,000 Financial liabilities Due to Manager $ 284,000 $ — $ 284,000 $ — $ 284,000 Accrued interest payable 175,000 — 113,000 62,000 175,000 Lines of credit payable 11,450,000 11,450,000 — 11,450,000 Notes and loans payable 37,570,000 — 24,428,000 13,155,000 37,583,000 The following methods and assumptions were used by the Company in estimating the fair value of each class of financial instruments: Cash, cash equivalents and restricted cash: Loans, net: Investment in limited liability company : Lines of credit payable: Notes and loans payable: Due to Manager :

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 13 - COMMITMENTS AND CONTINGENCIES Environmental Remediation Obligation s The Company has an obligation to pay all required costs to remediate and monitor contamination of the real properties owned by 1850. As part of the Operating Agreement executed by the Company and its joint venture partner in 1850, Nanook, the Company has indemnified Nanook against all obligations related to the expected costs to monitor and remediate the contamination. In 2008, the Company had accrued an amount that a third party consultant had estimated will need to be paid to monitor and remediate the site. The majority of clean-up activities were completed during 2012 as part of the tenant’s construction of a new building on the site. Thus, approximately $460,000 was paid by the Company from the previously established liability, and an additional $100,000 was accrued during the year ended December 31, 2012 as a result of an updated estimate of future costs to be incurred. If additional amounts are required, it will be an obligation of the Company. As of September 30, 2015 and December 31, 2014, approximately $39,000 and $60,000 of this obligation remains accrued on the Company’s books. All costs for this remediation will be paid from cash reserves. During the course of due diligence performed by a potential buyer of TOTB Miami in 2012, a low level of arsenic was found in the ground water of a monitoring well located on the property owned by TOTB Miami. While the level of arsenic exceeds the minimum level acceptable for drinking water standards, the water under this property is subject to tidal influence and is not used for domestic consumption. TOTB Miami has retained an environmental consultant to perform additional testing and analysis with the goal of petitioning the appropriate governmental agency to issue a no further action letter for this property due to the low level of contamination and the low quality of the ground water under the property. At this time, the costs of any potential remediation and/or monitoring are unknown and cannot be estimated. As of September 30, 2015 and December 31, 2014, approximately $104,000 and $79,000 has been accrued and/or paid for testing and analysis. Contractual Obligations The Company has entered into various contracts for design, architectural, engineering and foundation work for the phase II development of the land previously owned by TSV and now owned by Zalanta Resort at the Village, LLC (“Zalanta”). The aggregate amount of these contracts as of the date of this filing is approximately $4,333,000 of which approximately $2,244,000 has been incurred as of September 30, 2015. Management expects that all costs for this project will be paid from cash reserves, advances from the lines of credit and/or construction financing to be obtained in the future. The Company has also entered into contracts for the construction, demolition and concrete remediation, design, architectural and engineering services related to the renovation of the vacant apartment building owned by TOTB North (see Note 8) in the aggregate amount of approximately $21,042,000 of which approximately $13,963,000 has been incurred to September 30, 2015 in addition to other capitalized costs related to the construction project of $1,638,000 (total of $15,601,000). Management expects that all costs for this project will be paid from cash reserves or the existing construction loan. It is possible that additional change orders will be submitted and construction costs may be higher than expected. The Company has entered into contracts for new bathrooms and modular offices and improvements to the bridge that accesses the marina held within Brannan Island, LLC in the aggregate amount of approximately $791,000 of which approximately $633,000 has been incurred to September 30, 2015. Management expects that all costs from the project will be paid from cash reserves or advances from the lines of credit. It is possible that additional change orders will be submitted and construction costs may be higher than expected. As of September 30, 2015, the Company has commitments to advance additional funds to borrowers of construction, rehabilitation and other loans in the total amount of approximately $6,719,000 (including approximately $922,000 in interest reserves). Legal Proceedings The Company is involved in various legal actions arising in the normal course of business. In the opinion of management, such matters will not have a material effect upon the financial position of the Company.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Princip les of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned taxable REIT subsidiary (TRS) and its majority- and wholly-owned limited liability companies (see notes 5 and 6). The Company is in the business of providing mortgage lending services and manages its business as one operating segment. Due to foreclosure activity, the Company also owns and manages real estate assets. Certain reclassifications, not affecting previously reported net income or total stockholders’ equity, have been made to the previously issued consolidated financial statements to conform to the current period presentation.
Use of Estimates, Policy [Policy Text Block]	Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect 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 reporting periods. Such estimates are inherently imprecise and actual results could differ significantly from such estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards In April 2015, the FASB issued Accounting Standards Update 2015-03, “Interest - Imputation of Interest (Subtopic 835-30) – Simplifying the Presentation of Debt Issuance Costs,” or ASU 2015-03. ASU 2015-03 simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this ASU. The amendments in this ASU are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The adoption of this ASU by the Company will change the presentation of debt issuance costs of its notes and loans payable, which will be reported as a direct offset to the applicable debt on the balance sheet. Pursuant to Accounting Standards Update 2015-15 that was issued by the FASB in August 2015, this treatment will not be required for the Company’s line of credit arrangements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” or ASU 2014-09. ASU 2014-09 broadly amends the accounting guidance for revenue recognition. ASU 2014-09 is effective for the first interim or annual period beginning after December 15, 2016 (deferred by one year to December 15, 2017 with ASU 2015-14 issued in August 2015) , and is to be applied prospectively. Early adoption is not permitted. The Company is currently evaluating the impact that ASU 2014-09 will have on its financial statements. In April 2014, the FASB issued Accounting Standards Update 2014-08, “ Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”. ASU 2014-08 updated guidance that changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. As a result of this new guidance, future dispositions of real estate owned assets may no longer meet the criteria to be considered as discontinued operations. The guidance was effective as of the first quarter of 2015 and did not have a material effect on the Company’s consolidated financial statements.

Note 3 - Loans and Allowance 21

Note 3 - Loans and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure Text Block Supplement [Abstract]
Allowance for Credit Losses on Financing Receivables [Table Text Block]	2015 Commercial Residential Land Total Allowance for loan losses: Three Months Ended September 30, 2015 Beginning balance $ 940,215 $ 2,074,617 $ 282,566 $ 3,297,398 Charge-offs — — — — Provision (40,858 ) 85,174 — 44,316 Ending Balance $ 899,357 $ 2,159,791 $ 282,566 $ 3,341,714 Nine Months Ended September 30, 2015 Beginning balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355 Charge-offs — — — — Provision 11,097 184,679 276,583 472,359 Ending balance $ 899,357 $ 2,159,791 $ 282,566 $ 3,341,714 As of September 30, 2015 Ending balance: individually evaluated for impairment $ 480,005 $ 1,839,345 $ — $ 2,319,350 Ending balance: collectively evaluated for impairment $ 419,352 $ 320,446 $ 282,566 $ 1,022,364 Ending balance $ 899,357 $ 2,159,791 $ 282,566 $ 3,341,714 Loans: Ending balance $ 51,011,804 $ 19,779,734 $ 6,042,548 $ 76,834,086 Ending balance: individually evaluated for impairment $ 2,510,752 $ 7,779,694 $ — $ 10,290,446 Ending balance: collectively evaluated for impairment $ 48,501,052 $ 12,000,040 $ 6,042,548 $ 66,543,640 2014 Commercial Residential Land Total Allowance for loan losses: Three Months Ended September 30, 2014 Beginning balance $ 1,507,196 $ 3,249,975 $ 5,269 $ 4,762,440 Charge-offs — — — — Provision 46,937 70,742 1 117,680 Ending Balance $ 1,554,133 $ 3,320,717 $ 5,270 $ 4,880,120 Nine Months Ended September 30, 2014 Beginning balance $ 932,651 $ 3,798,203 $ 8,234 $ 4,739,088 Charge-offs — — — — Provision (reversal) 621,482 (477,486 ) (2,964 ) 141,032 Ending balance $ 1,554,133 $ 3,320,717 $ 5,270 $ 4,880,120 As of December 31, 2014 Ending balance: individually evaluated for impairment $ 550,010 $ 1,839,345 $ — $ 2,389,355 Ending balance: collectively evaluated for impairment $ 338,250 $ 135,767 $ 5,983 $ 480,000 Ending balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355 Loans: Ending balance $ 52,531,537 $ 13,491,906 $ 2,010,068 $ 68,033,511 Ending balance: individually evaluated for impairment $ 12,666,935 $ 7,788,747 $ 1,860,068 $ 22,315,750 Ending balance: collectively evaluated for impairment $ 39,864,602 $ 5,703,159 $ 150,000 $ 45,717,761
Past Due Financing Receivables [Table Text Block]	September 30, 2015 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Commercial $ — $ 1,432,000 $ 1,078,752 $ 2,510,752 $ 48,501,052 $ 51,011,804 Residential — — 7,779,694 7,779,694 12,000,040 19,779,734 Land — — — — 6,042,548 6,042,548 $ — $ 1,432,000 $ 8,858,446 $ 10,290,446 $ 66,543,640 $ 76,834,086 December 31, 2014 Loans 30-59 Days Past Due Loans 60-89 Days Past Due Loans 90 or More Days Past Due Total Past Due Loans Current Loans Total Loans Commercial $ — $ — $ 1,078,752 $ 1,078,752 $ 51,452,785 $ 52,531,537 Residential — — 7,788,747 7,788,747 5,703,159 13,491,906 Land — — 1,860,068 1,860,068 150,000 2,010,068 $ — $ — $ 10,727,567 $ 10,727,567 $ 57,305,944 $ 68,033,511
Impaired Financing Receivables [Table Text Block]	As of September 30, 2015 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ 1,463,453 $ 1,432,000 $ — Residential 244,694 244,694 — Land — — — $ 1,708,147 $ 1,676,694 $ — With an allowance recorded: Commercial $ 1,144,864 $ 1,078,752 $ 480,005 Residential 7,983,345 7,535,000 1,839,345 Land — — — $ 9,128,209 $ 8,613,752 $ 2,319,350 Total s : Commercial $ 2,608,317 $ 2,510,752 $ 480,005 Residential 8,228,039 7,779,694 1,839,345 Land — — — $ 10,836,356 $ 10,290,446 $ 2,319,350 Three Months Ended September 30, 2015 Nine Months Ended September 30 , 201 5 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 487,818 $ 9,547 $ 2,741,825 $ 611,206 Residential 245,725 5,654 248,762 16,581 Land — — 413,348 216,904 $ 733,543 $ 15,201 $ 3,403,935 $ 844,691 With an allowance recorded: Commercial $ 1,148,627 $ 17,979 $ 1,111,170 $ 40,452 Residential 7,983,345 35,000 7,983,345 157,600 Land — — — — $ 9,131,972 $ 52,979 $ 9,094,515 $ 198,052 Total s : Commercial $ 1,636,445 $ 27,526 $ 3,852,995 $ 651,658 Residential 8,229,070 40,654 8,232,107 174,181 Land — — 413,348 216,904 $ 9,865,515 $ 68,180 $ 12,498,450 $ 1,042,743 As of December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ 11,588,183 $ 11,588,183 $ — Residential 253,747 253,747 — Land 1,860,068 1,860,068 — $ 13,701,998 $ 13,701,998 $ — With an allowance recorded: Commercial $ 1,079,699 $ 1,078,752 $ 550,010 Residential 7,983,345 7,535,000 1,839,345 Land — — — $ 9,063,044 $ 8,613,752 $ 2,389,355 Total s : Commercial $ 12,667,882 $ 12,666,935 $ 550,010 Residential 8,237,092 7,788,747 1,839,345 Land 1,860,068 1,860,068 — $ 22,765,042 $ 22,315,750 $ 2,389,355 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 16,410,099 $ 617,507 $ 16,306,543 $ 1,405,623 Residential 2,233,235 — 2,374,941 67,733 Land 1,860,216 38,276 2,633,298 132,916 $ 20,503,550 $ 655,783 $ 21,314,782 $ 1,606,272 With an allowance recorded: Commercial $ 1,910,269 $ 13,484 $ 1,867,315 $ 39,956 Residential 7,983,345 22,000 7,983,373 96,000 Land — — — — $ 9,893,614 $ 35,484 $ 9,850,688 $ 135,956 Total s : Commercial $ 18,320,368 $ 630,991 $ 18,173,858 $ 1,445,579 Residential 10,216,580 22,000 10,358,314 163,733 Land 1,860,216 38,276 2,633,298 132,916 $ 30,397,164 $ 691,267 $ 31,165,470 $ 1,742,228

Note 5 - Real Estate Held for22

Note 5 - Real Estate Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure Text Block [Abstract]
Properties Acquired Through Foreclosure [Table Text Block]	September 30, 2015 December 31, 2014 Land (including land under development) $ 40,300,887 $ 36,263,330 Retail — 16,494,440 Residential 54,222,726 — Office 4,716,159 4,716,159 Industrial 1,422,308 — Storage 3,782,526 — Marina 236,500 — Golf course — 2,020,410 $ 104,681,106 $ 59,494,339

Note 6 - Real Estate Held for23

Note 6 - Real Estate Held for Investment (Tables)	9 Months Ended
	Sep. 30, 2015
Note 6 - Real Estate Held for Investment (Tables) [Line Items]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Twelve months ending September 30: 2016 $ 5,501,140 2017 2,081,943 2018 1,711,319 2019 1,382,710 2020 480,682 Thereafter (through 2024) 1,345,092 $ 12,502,886
By Property [Member]
Note 6 - Real Estate Held for Investment (Tables) [Line Items]
Schedule of Real Estate Properties [Table Text Block]	September 30, 2015 December 31, 2014 Land $ 8,839,255 $ 10,797,656 Residential 6,721,923 48,154,258 Retail 23,278,649 23,211,896 Assisted care 5,073,316 5,005,000 Office 4,300,543 4,416,108 Industrial — 4,486,797 Storage — 3,847,884 Marina 3,740,468 3,602,867 Golf course 1,951,253 — $ 53,905,407 $ 103,522,466 September 30, 2015 December 31, 2014 Land and land improvements $ 24,047,216 $ 39,003,422 Buildings and improvements 32,449,622 70,594,331 56,496,838 109,597,753 Less: Accumulated depreciation (2,591,431 ) (6,075,287 ) $ 53,905,407 $ 103,522,466

Note 7 - Lines of Credit Paya24

Note 7 - Lines of Credit Payable (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities [Table Text Block]	As of September 30 , 201 5 As of December 31, 201 4 Outstanding Balance Total Commitment Outstanding Balance Total Commitment CB&T Line of Credit $ 8,954,000 $ 17,992,910 $ 11,450,000 $ 17,355,000 Opus Bank Line of Credit — 12,626,000 — 16,721,000 Total $ 8,954,000 $ 30,618,910 $ 11,450,000 $ 34,076,000
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]	Loans: September 30 , 201 5 Commercial $ 15,996,624 Real Estate: Residential 6,852,989 Storage 3,782,526 Total $ 10,635,515 Loans: September 30 , 201 5 Commercial $ 8,425,924 Real Estate: Office 9,016,702 Industrial 1,422,308 Total $ 10,439,010

Note 8 - Notes and Loans Paya25

Note 8 - Notes and Loans Payable on Real Estate (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure Text Block [Abstract]
Schedule of Debt [Table Text Block]	September 30, 2015 December 31, 2014 Interest Rate Payment Terms/ Frequency Maturity Date 720 University, LLC Note Payable $ — $ 9,741,463 6.00 % Interest Only Monthly Paid off Tahoe Stateline Venture, LLC Note #1 2,900,000 2,900,000 5.00 % Interest Only Semi-annual December 2016 Tahoe Stateline Venture, LLC Note #2 500,000 500,000 5.00 % Interest Only Quarterly August 2017 TOTB North, LLC Construction Loan Payable 10,945,502 1,007,919 4.50 % Amortizing Monthly June 2017 TOTB Miami, LLC Loan Payable 12,754,415 12,975,167 4.33 % Amortizing Monthly November 2017 Tahoe Stateline Venture, LLC Loan Payable 14,097,865 10,445,000 3.47 % Amortizing Monthly January 2021 $ 41,197,782 $ 37,569,549
Schedule of Maturities of Long-term Debt [Table Text Block]	Twelve months ending September 30: 2016 $ 652,322 2017 15,032,576 2018 12,573,703 2019 416,904 2020 431,603 Thereafter 12,090,674 $ 41,197,782

Note 12 - Fair Value (Tables)

Note 12 - Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements, Nonrecurring [Table Text Block]	Fair Value Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2015 Nonrecurring: Impaired loans: Commercial $ 664,859 $ — $ — $ 664,859 Residential 6,144,000 — — 6,144,000 Total $ 6,808,859 $ — $ — $ 6,808,859 Real estate properties: Land $ 4,557,000 $ — $ — $ 4,557,000 Total $ 4,557,000 $ — $ — $ 4,557,000 December 31, 2014 Nonrecurring: Impaired loans: Commercial $ 529,689 $ — $ — $ 529,689 Residential 6,144,000 — — 6,144,000 Total $ 6,673,689 $ — $ — $ 6,673,689 Real estate properties: Commercial $ 1,292,500 $ — $ — $ 1,292,500 Land 2,334,773 — — 2,334,773 Total $ 3,627,273 $ — $ — $ 3,627,273
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]	Description Fair Value Valuation Technique Significant Unobservable Inputs Input/Range Weighted Average Impaired Loans: Commercial $ 664,859 Appraisal Estimated Cost of Improvements 31.9% N/A Capitalization Rate 7% N/A Comparable Sales Adjustment (20)% to 30% N/A Residential $ 6,144,000 Appraisal Estimated Cost of Improvements 1.8% N/A Discount Rate 12% N/A Comparable Sales Adjustment (10)% to 20% N/A Real Estate Properties: Land $ 4,557,000 Appraisal Comparable Sales Adjustment (19%) N/A Description Fair Value Valuation Technique Significant Unobservable Inputs Input/Range Weighted Average Impaired Loans: Commercial $ 529,689 Appraisal Estimate Cost of Improvements 13.6% N/A Capitalization Rate 6.5% N/A Comparable Sales Adjustment (59)% to (2.3)% N/A Residential $ 6,144,000 Appraisal Estimate Cost of Improvements 1.8% N/A Discount Rate 12% N/A Comparable Sales Adjustment (10)% to 20% N/A Real Estate Properties: Commercial $ 1,292,500 Appraisal Comparable Purchase Offers (42)% to 13.4% N/A Land $ 2,334,773 Appraisal Comparable Sales Adjustment 5% to 62.8% N/A Discount Rate 8% N/A
Fair Value, by Balance Sheet Grouping [Table Text Block]	Fair Value Measurements at September 30 , 201 5 Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 6,708,000 $ 6,708,000 $ — $ — $ 6,708,000 Restricted cash 7,495,000 7,495,000 — — 7,495,000 Loans, net 73,492,000 — — 73,469,000 73,469,000 Investment in limited liability company 2,188,000 — — 2,352,000 2,352,000 Accrued interest and advances receivable 1,026,000 — — 1,026,000 1,026,000 Financial liabilities Due to Manager $ 235,000 $ — $ 235,000 $ — $ 235,000 Accrued interest payable 186,000 — 132,000 54,000 186,000 Lines of credit payable 8,954,000 — 8,954,000 — 8,954,000 Notes and loans payable 41,198,000 — 37,798,000 3,400,000 41,198,000 Fair Value Measurements at December 31, 2014 Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 1,414,000 $ 1,414,000 $ — $ — $ 1,414,000 Restricted cash 6,249,000 6,249,000 — — 6,249,000 Loans, net 65,164,000 — — 66,009,000 66,009,000 Investment in limited liability company 2,143,000 — — 2,352,000 2,352,000 Accrued interest and advances receivable 838,000 — — 838,000 838,000 Financial liabilities Due to Manager $ 284,000 $ — $ 284,000 $ — $ 284,000 Accrued interest payable 175,000 — 113,000 62,000 175,000 Lines of credit payable 11,450,000 11,450,000 — 11,450,000 Notes and loans payable 37,570,000 — 24,428,000 13,155,000 37,583,000

Note 1 - Organization (Details)

Note 1 - Organization (Details) - $ / shares	Sep. 30, 2015	Dec. 31, 2014	Jan. 23, 2013	Aug. 09, 2012
Disclosure Text Block [Abstract]
Common Stock, Shares Authorized	50,000,000	50,000,000		50,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01		$ 0.01
Preferred Stock, Shares Authorized	5,000,000	5,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01	$ 0.01
Potential Percentage Penalty Tax	100.00%
REIT Minimum Percent Distribution Of Taxable Income	90.00%

Note 2 - Summary of Significa28

Note 2 - Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Number of Operating Segments	1

Note 3 - Loans and Allowance 29

Note 3 - Loans and Allowance for Loan Losses (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2013USD ($)
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items]
Allowance for Loan and Lease Losses, Real Estate	$ 3,341,714	$ 4,880,120	$ 3,341,714	$ 4,880,120	$ 2,869,355	$ 3,297,398	$ 4,762,440	$ 4,739,088
Financing Receivable, Modifications, Number of Contracts	0	0	0	0
Modified Loan Terms [Member]
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items]
Allowance for Loan and Lease Losses, Real Estate	$ 2,319,000		$ 2,319,000		2,389,000
Financing Receivable, Modifications, Recorded Investment	9,373,000		9,373,000		$ 20,265,000
Commercial Portfolio Segment [Member]
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items]
Impaired Financing Receivable,Restored to Accrual Status,Number of Loans					2
Allowance for Loan and Lease Losses, Real Estate	$ 899,357	$ 1,554,133	$ 899,357	$ 1,554,133	$ 888,260	$ 940,215	$ 1,507,196	$ 932,651
Commercial Real Estate Portfolio Segment [Member]
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items]
Impaired Financing Receivables,Restored to Accrual Status, Recorded Investment					$ 11,588,000

Note 3 - Loans and Allowance 30

Note 3 - Loans and Allowance for Loan Losses (Details) - Allocation of the Allowance for Loan Losses - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, beginning balance	$ 3,297,398	$ 4,762,440	$ 4,739,088	$ 2,869,355	$ 4,739,088
Allowance for loan losses, ending balance	3,341,714	4,880,120		3,341,714	4,880,120
Allowance for loan losses: individually evaluated for impairment						$ 2,319,350	$ 2,389,355
Allowance for loan losses: collectively evaluated for impairment						1,022,364	480,000
Allowance for loan losses	3,341,714	4,762,440	4,739,088	3,341,714	4,880,120	3,341,714	2,869,355
Loans:
Loans						76,834,086	68,033,511
Ending balance: individually evaluated for impairment						10,290,446	22,315,750
Ending balance: collectively evaluated for impairment						66,543,640	45,717,761
Charge-offs	0	0	0	0	0
Provision (reversal)	44,316	117,680		472,359	141,032
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, beginning balance	940,215	1,507,196	932,651	888,260	932,651
Allowance for loan losses, ending balance	899,357	1,554,133		899,357	1,554,133
Allowance for loan losses: individually evaluated for impairment						480,005	550,010
Allowance for loan losses: collectively evaluated for impairment						419,352	338,250
Allowance for loan losses	940,215	1,507,196	932,651	899,357	1,554,133	899,357	888,260
Loans:
Loans						51,011,804	52,531,537
Ending balance: individually evaluated for impairment						2,510,752	12,666,935
Ending balance: collectively evaluated for impairment						48,501,052	39,864,602
Charge-offs	0	0	0	0	0
Provision (reversal)	(40,858)	46,937		11,097	621,482
Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, beginning balance	2,074,617	3,249,975	3,798,203	1,975,112	3,798,203
Allowance for loan losses, ending balance	2,159,791	3,320,717		2,159,791	3,320,717
Allowance for loan losses: individually evaluated for impairment						1,839,345	1,839,345
Allowance for loan losses: collectively evaluated for impairment						320,446	135,767
Allowance for loan losses	2,074,617	3,249,975	3,798,203	2,159,791	3,320,717	2,159,791	1,975,112
Loans:
Loans						19,779,734	13,491,906
Ending balance: individually evaluated for impairment						7,779,694	7,788,747
Ending balance: collectively evaluated for impairment						12,000,040	5,703,159
Charge-offs	0	0	0	0	0
Provision (reversal)	85,174	70,742		184,679	(477,486)
Land Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, beginning balance	282,566	5,269	8,234	5,983	8,234
Allowance for loan losses, ending balance	282,566	5,270		282,566	5,270
Allowance for loan losses: individually evaluated for impairment						0	0
Allowance for loan losses: collectively evaluated for impairment						282,566	5,983
Allowance for loan losses	282,566	5,269	8,234	282,566	5,270	282,566	5,983
Loans:
Loans						6,042,548	2,010,068
Ending balance: individually evaluated for impairment						0	1,860,068
Ending balance: collectively evaluated for impairment						$ 6,042,548	$ 150,000
Charge-offs	0	0	$ 0	0	0
Provision (reversal)	$ 0	$ 1		$ 276,583	$ (2,964)

Note 3 - Loans and Allowance 31

Note 3 - Loans and Allowance for Loan Losses (Details) - Aging Analysis of the Loan Portfolio by the Time Past Due - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	$ 10,290,446	$ 10,727,567
Current loans	66,543,640	57,305,944
Total loans	76,834,086	68,033,511
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	0
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,432,000	0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	8,858,446	10,727,567
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	2,510,752	1,078,752
Current loans	48,501,052	51,452,785
Total loans	51,011,804	52,531,537
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	0
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,432,000	0
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	1,078,752	1,078,752
Residential Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	7,779,694	7,788,747
Current loans	12,000,040	5,703,159
Total loans	19,779,734	13,491,906
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	0
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	0
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	7,779,694	7,788,747
Land Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	1,860,068
Current loans	6,042,548	150,000
Total loans	6,042,548	2,010,068
Land Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	0
Land Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	0	0
Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due loans	$ 0	$ 1,860,068

Note 3 - Loans and Allowance 32

Note 3 - Loans and Allowance for Loan Losses (Details) - Impaired Loans - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
With no related allowance recorded:
Loans with no related allowance recorded, recorded investment	$ 1,708,147		$ 1,708,147		$ 13,701,998
Loans with no related allowance recorded, unpaid principal balance	1,676,694		1,676,694		13,701,998
Loans with no related allowance recorded, average recorded investment	733,543	$ 20,503,550	3,403,935	$ 21,314,782
Loans with no related allowance recorded, interest income recognized	15,201	655,783	844,691	1,606,272
With an allowance recorded:
Loans with an allowance recorded, recorded investment	9,128,209		9,128,209		9,063,044
Loans with an allowance recorded, unpaid principal balance	8,613,752		8,613,752		8,613,752
Related allowance	2,319,350		2,319,350		2,389,355
Loans with an allowance recorded, average recorded investment	9,131,972	9,893,614	9,094,515	9,850,688
Loans with an allowance recorded, interest income recognized	52,979	35,484	198,052	135,956
Totals:
Loans, recorded investment	10,836,356		10,836,356		22,765,042
Loans, unpaid principal balance	10,290,446		10,290,446		22,315,750
Related allowance	2,319,350		2,319,350		2,389,355
Loans, average recorded investment	9,865,515	30,397,164	12,498,450	31,165,470
Loans, interest income recognized	68,180	691,267	1,042,743	1,742,228
Commercial Portfolio Segment [Member]
With no related allowance recorded:
Loans with no related allowance recorded, recorded investment	1,463,453		1,463,453		11,588,183
Loans with no related allowance recorded, unpaid principal balance	1,432,000		1,432,000		11,588,183
Loans with no related allowance recorded, average recorded investment	487,818	16,410,099	2,741,825	16,306,543
Loans with no related allowance recorded, interest income recognized	9,547	617,507	611,206	1,405,623
With an allowance recorded:
Loans with an allowance recorded, recorded investment	1,144,864		1,144,864		1,079,699
Loans with an allowance recorded, unpaid principal balance	1,078,752		1,078,752		1,078,752
Related allowance	480,005		480,005		550,010
Loans with an allowance recorded, average recorded investment	1,148,627	1,910,269	1,111,170	1,867,315
Loans with an allowance recorded, interest income recognized	17,979	13,484	40,452	39,956
Totals:
Loans, recorded investment	2,608,317		2,608,317		12,667,882
Loans, unpaid principal balance	2,510,752		2,510,752		12,666,935
Related allowance	480,005		480,005		550,010
Loans, average recorded investment	1,636,445	18,320,368	3,852,995	18,173,858
Loans, interest income recognized	27,526	630,991	651,658	1,445,579
Residential Portfolio Segment [Member]
With no related allowance recorded:
Loans with no related allowance recorded, recorded investment	244,694		244,694		253,747
Loans with no related allowance recorded, unpaid principal balance	244,694		244,694		253,747
Loans with no related allowance recorded, average recorded investment	245,725	2,233,235	248,762	2,374,941
Loans with no related allowance recorded, interest income recognized	5,654	0	16,581	67,733
With an allowance recorded:
Loans with an allowance recorded, recorded investment	7,983,345		7,983,345		7,983,345
Loans with an allowance recorded, unpaid principal balance	7,535,000		7,535,000		7,535,000
Related allowance	1,839,345		1,839,345		1,839,345
Loans with an allowance recorded, average recorded investment	7,983,345	7,983,345	7,983,345	7,983,373
Loans with an allowance recorded, interest income recognized	35,000	22,000	157,600	96,000
Totals:
Loans, recorded investment	8,228,039		8,228,039		8,237,092
Loans, unpaid principal balance	7,779,694		7,779,694		7,788,747
Related allowance	1,839,345		1,839,345		1,839,345
Loans, average recorded investment	8,229,070	10,216,580	8,232,107	10,358,314
Loans, interest income recognized	40,654	22,000	174,181	163,733
Land Portfolio Segment [Member]
With no related allowance recorded:
Loans with no related allowance recorded, recorded investment	0		0		1,860,068
Loans with no related allowance recorded, unpaid principal balance	0		0		1,860,068
Loans with no related allowance recorded, average recorded investment	0	1,860,216	413,348	2,633,298
Loans with no related allowance recorded, interest income recognized	0	38,276	216,904	132,916
With an allowance recorded:
Loans with an allowance recorded, recorded investment	0		0		0
Loans with an allowance recorded, unpaid principal balance	0		0		0
Related allowance	0		0		0
Loans with an allowance recorded, average recorded investment	0	0	0	0
Loans with an allowance recorded, interest income recognized	0	0	0	0
Totals:
Loans, recorded investment	0		0		1,860,068
Loans, unpaid principal balance	0		0		1,860,068
Related allowance	0		0		$ 0
Loans, average recorded investment	0	1,860,216	413,348	2,633,298
Loans, interest income recognized	$ 0	$ 38,276	$ 216,904	$ 132,916

Note 4 - Investment in Limite33

Note 4 - Investment in Limited Liability Company (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jul. 31, 2008
Note 4 - Investment in Limited Liability Company (Details) [Line Items]
Proceeds from Equity Method Investment, Dividends or Distributions			$ 85,000	$ 84,000
Income (Loss) from Equity Method Investments	$ 44,605	$ 43,686	130,483	126,357
1850 [Member]
Note 4 - Investment in Limited Liability Company (Details) [Line Items]
Number of Real Estate Properties					2
Number of Companies					2
Proceeds from Equity Method Investment, Dividends or Distributions	0	0	85,000	84,000
Income (Loss) from Equity Method Investments	$ 45,000	$ 44,000	$ 130,000	$ 126,000

Note 5 - Real Estate Held for34

Note 5 - Real Estate Held for Sale (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Depreciation (in Dollars)	$ 505,000	$ 523,000	$ 1,647,000	$ 1,563,000
Impairment of Real Estate (in Dollars)	$ 0	$ 123,500	$ 1,256,434	$ 179,040
Number of Real Estate Properties Sold	0	0	4	0
Proceeds from Sale of Other Real Estate (in Dollars)			$ 34,865,000
Gain (Loss) on Sale of Properties (in Dollars)		$ 113,113	$ 15,031,299	$ 2,740,105
Transferred from Held for Investment to Held for Sale [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Parcels	4		4
Residential [Member] | Transferred from Held for Investment to Held for Sale [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Real Estate Properties		1		1
Residential [Member] | Transferred from Held for Sale to Held for Investment [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Parcels	1		1
Industrial Property [Member] | Transferred from Held for Sale to Held for Investment [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Parcels	1		1
Marinas [Member] | Transferred from Held for Sale to Held for Investment [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Parcels	1		1
Storage [Member] | Transferred from Held for Sale to Held for Investment [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Parcels	1		1
Golf Course [Member] | Transferred from Held for Sale to Held for Investment [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Real Estate Properties	1		1
Depreciation (in Dollars)			$ 79,000
Land Property [Member] | Transferred from Held for Investment to Held for Sale [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Real Estate Properties		1		1
Land Property [Member] | Transferred from Held for Sale to Held for Investment [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Number of Real Estate Properties		1		1
Unimproved Residential and Commercial Land Located in Gypsum, Colorado [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Impairment of Real Estate (in Dollars)			1,256,000
Marina Property in Oakley, California [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Impairment of Real Estate (in Dollars)		$ 124,000		$ 179,000
Deferred Gain on Property [Member]
Note 5 - Real Estate Held for Sale (Details) [Line Items]
Gain (Loss) on Sale of Properties (in Dollars)			$ 152,000	$ 2,626,000

Note 5 - Real Estate Held for35

Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	$ 104,681,106	$ 59,494,339
Improved and Unimproved Land [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	40,300,887	36,263,330
Retail Site [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	0	16,494,440
Residential [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	54,222,726	0
Office Building [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	4,716,159	4,716,159
Industrial Property [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	1,422,308	0
Storage [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	3,782,526	0
Marinas [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	236,500	0
Golf Course [Member]
Note 5 - Real Estate Held for Sale (Details) - Properties Acquired Through Foreclosure [Line Items]
Real estate held for sale	$ 0	$ 2,020,410

Note 6 - Real Estate Held for36

Note 6 - Real Estate Held for Investment (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Note 6 - Real Estate Held for Investment (Details) [Line Items]
Depreciation	$ 505,000	$ 523,000	$ 1,647,000	$ 1,563,000
Number of Real Estate Properties Sold	0	0	4	0
Mortgage Loans on Real Estate, Foreclosures	$ 0		$ 0
Gain on Foreclosure of Loan				$ 257,020
Sandmound Marina, LLC Foreclosed in 2014 [Member]
Note 6 - Real Estate Held for Investment (Details) [Line Items]
Mortgage Loans on Real Estate, Foreclosures				2,960,000
Interest And Other Receivables Foreclosures				282,000
Gain on Foreclosure of Loan				$ 257,000
Residential [Member] | West Sacramento [Member]
Note 6 - Real Estate Held for Investment (Details) [Line Items]
Number of Real Estate Properties Sold		1
Proceeds from Sale of Real Estate		$ 175,000
Gains (Losses) on Sales of Investment Real Estate		$ 105,000
Minimum [Member]
Note 6 - Real Estate Held for Investment (Details) [Line Items]
Remaining Term on Lease			1 year
Maximum [Member]
Note 6 - Real Estate Held for Investment (Details) [Line Items]
Remaining Term on Lease			9 years

Note 6 - Real Estate Held for37

Note 6 - Real Estate Held for Investment (Details) - Real Estate Held for Investment - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Real estate held for investment	$ 53,905,407	$ 103,522,466
Land and land improvements	24,047,216	39,003,422
Buildings and improvements	32,449,622	70,594,331
	56,496,838	109,597,753
Less: Accumulated depreciation	(2,591,431)	(6,075,287)
Improved and Unimproved Land [Member]
Real Estate Properties [Line Items]
Real estate held for investment	8,839,255	10,797,656
Residential [Member]
Real Estate Properties [Line Items]
Real estate held for investment	6,721,923	48,154,258
Retail Site [Member]
Real Estate Properties [Line Items]
Real estate held for investment	23,278,649	23,211,896
Assisted Care Facility [Member]
Real Estate Properties [Line Items]
Real estate held for investment	5,073,316	5,005,000
Office Building [Member]
Real Estate Properties [Line Items]
Real estate held for investment	4,300,543	4,416,108
Industrial Property [Member]
Real Estate Properties [Line Items]
Real estate held for investment	0	4,486,797
Other Property [Member]
Real Estate Properties [Line Items]
Real estate held for investment	0	3,847,884
Marinas [Member]
Real Estate Properties [Line Items]
Real estate held for investment	3,740,468	3,602,867
Golf Course [Member]
Real Estate Properties [Line Items]
Real estate held for investment	$ 1,951,253	$ 0

Note 6 - Real Estate Held for38

Note 6 - Real Estate Held for Investment (Details) - Future Minimum Rental Income from Noncancellable Operating Leases	Sep. 30, 2015USD ($)
Future Minimum Rental Income from Noncancellable Operating Leases [Abstract]
2,016	$ 5,501,140
2,017	2,081,943
2,018	1,711,319
2,019	1,382,710
2,020	480,682
Thereafter (through 2024)	1,345,092
	$ 12,502,886

Note 7 - Lines of Credit Paya39

Note 7 - Lines of Credit Payable (Details) - USD ($)	3 Months Ended		8 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Feb. 28, 2014
Note 7 - Lines of Credit Payable (Details) [Line Items]
Deferred Finance Costs, Net	$ 936,948			$ 936,948		$ 1,317,585
Interest Expense	354,163	$ 338,225		$ 1,413,109	$ 718,707
CB&T [Member] | Revolving Credit Facility [Member]
Note 7 - Lines of Credit Payable (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity							$ 30,000,000
Debt Instrument, Basis Spread on Variable Rate			0.25%
Interest Rate Increases Upon Default				2.00%
Loan Processing Fee				$ 100,000
Deferred Finance Costs, Net	177,000			177,000
Interest Expense	70,000	171,000		297,000	287,000
Amortization of Financing Costs	$ 36,000	23,000		$ 90,000	46,000
CB&T [Member] | Prime Rate [Member] | Revolving Credit Facility [Member]
Note 7 - Lines of Credit Payable (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.50%			3.50%
Opus Credit Facility [Member] | Revolving Credit Facility [Member]
Note 7 - Lines of Credit Payable (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000,000			$ 20,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.50%			4.50%
Deferred Finance Costs, Net	$ 231,000			$ 231,000
Interest Expense	19,000	40,000		58,000	53,000
Amortization of Financing Costs	$ 19,000	$ 19,000		$ 58,000	$ 32,000
Debt Instrument, Interest Rate, Effective Percentage	4.50%			4.50%
Opus Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Note 7 - Lines of Credit Payable (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate				4.00%
Opus Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Default [Member]
Note 7 - Lines of Credit Payable (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate				5.00%
Minimum [Member] | Opus Credit Facility [Member] | Contingency Reserves [Member] | Revolving Credit Facility [Member]
Note 7 - Lines of Credit Payable (Details) [Line Items]
Loan Processing Fee				$ 100,000

Note 7 - Lines of Credit Paya40

Note 7 - Lines of Credit Payable (Details) - Credit Facilities - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Line of Credit, Outstanding	$ 8,954,000	$ 11,450,000
Line of Credit, Commitment	30,618,910	34,076,000
CB&T [Member]
Line of Credit Facility [Line Items]
Line of Credit, Outstanding	8,954,000	11,450,000
Line of Credit, Commitment	17,992,910	17,355,000
Opus Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit, Outstanding	0	0
Line of Credit, Commitment	$ 12,626,000	$ 16,721,000

Note 7 - Lines of Credit Paya41

Note 7 - Lines of Credit Payable (Details) - Loans Securing Credit Facility	Sep. 30, 2015USD ($)
CB&T [Member]
Real Estate:
Real estate securing the credit facility	$ 10,635,515
CB&T [Member] | Commercial Loan [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Loans securing the credit facility	15,996,624
CB&T [Member] | Residential Real Estate [Member]
Real Estate:
Real estate securing the credit facility	6,852,989
Opus Credit Facility [Member]
Real Estate:
Real estate securing the credit facility	10,439,010
Opus Credit Facility [Member] | Commercial Loan [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Loans securing the credit facility	8,425,924
Warehouse [Member] | CB&T [Member] | Commercial Real Estate [Member]
Real Estate:
Real estate securing the credit facility	3,782,526
Office Building [Member] | Opus Credit Facility [Member] | Commercial Real Estate [Member]
Real Estate:
Real estate securing the credit facility	9,016,702
Industrial Property [Member] | Opus Credit Facility [Member] | Commercial Real Estate [Member]
Real Estate:
Real estate securing the credit facility	$ 1,422,308

Note 8 - Notes and Loans Paya42

Note 8 - Notes and Loans Payable on Real Estate (Details)	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Jan. 31, 2015USD ($)	Nov. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2013
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Notes Payable	$ 41,197,782			$ 41,197,782		$ 37,569,549
Interest Expense	354,163		$ 338,225	1,413,109	$ 718,707
Escrow Deposit	495,000			495,000		249,000
Noncontrolling Interest, Increase from Subsidiary Equity Issuance				279,184	112,533
Deferred Finance Costs, Net	936,948			936,948		1,317,585
TOTB North, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Payments to Acquire Interest in Subsidiaries and Affiliates		$ 1,170,000				453,000
Noncontrolling Interest, Increase from Subsidiary Equity Issuance						108,000
720 LLC[Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Notes Payable							$ 9,771,263
Debt Instrument, Interest Rate, Stated Percentage							6.00%
Interest Expense	0		127,000	265,000	378,000
Tahoe Stateline Venture, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Number of Parcels										9
Interest Paid				91,000	107,000
Interest Payable	55,000			55,000		19,000
OFG [Member] | TOTB North, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Payments to Acquire Interest in Subsidiaries and Affiliates		$ 279,000
TOTB North Loan Agreement [Member] | TOTB North, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Notes Payable	10,946,000			10,946,000		1,008,000
Interest Expense	$ 91,000		9,000	$ 133,000	10,000
Debt Instrument, Additional Terms				2 years
Debt Instrument, Extended Term				1 year
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum				4.50%
Debt Instrument, Interest Rate, Effective Percentage	4.50%			4.50%
Debt Instrument, Default Rate Increase				8.00%
Escrow Deposit						1,000,000
Deferred Finance Costs, Net						622,000
Amortization of Financing Costs	$ 52,000		$ 52,000	$ 156,000	$ 69,000
TOTB North Loan Agreement [Member] | TOTB North, LLC [Member] | London Interbank Offered Rate (LIBOR) [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate				4.00%
TOTB Miami Loan Agreement [Member] | TOTB Miami, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Interest Expense	$ 166,000			$ 497,000
Debt Instrument, Face Amount								$ 13,000,000
Debt Instrument, Additional Terms				2 years
Debt Instrument, Extended Term				1 year
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum				4.25%
Debt Instrument, Interest Rate, Effective Percentage	4.33%			4.33%
Debt Instrument, Default Rate Increase				8.00%
Deferred Finance Costs, Net	$ 323,000			$ 323,000
Amortization of Financing Costs	$ 33,000			$ 92,000
Number of Units in Real Estate Property								154
TOTB Miami Loan Agreement [Member] | TOTB Miami, LLC [Member] | London Interbank Offered Rate (LIBOR) [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate				4.00%
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.47%			3.47%
Interest Expense	$ 99,000			$ 296,000
Debt Instrument, Face Amount						14,500,000
Deferred Finance Costs, Net	218,000			218,000
Amortization of Financing Costs	9,000			27,000
Proceeds from Issuance of Debt						$ 10,445,000
Debt Instrument, Unused Borrowing Capacity, Amount	3,830,000			3,830,000
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member] | Closing Fee [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Deferred Finance Costs, Net	$ 108,750			$ 108,750
TSV Credit Agreement [Member] | Outstanding Principal Balance [Member] | Tahoe Stateline Venture, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Debt Instrument, Default Rate Increase				5.00%
TSV Credit Agreement [Member] | Other Outstanding Obligations [Member] | Tahoe Stateline Venture, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Debt Instrument, Default Rate Increase				10.00%
Maximum [Member] | TOTB North Loan Agreement [Member] | TOTB North, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) [Line Items]
Debt Instrument, Face Amount									$ 21,304,000

Note 8 - Notes and Loans Paya43

Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding [Line Items]
Debt instrument, outstanding	$ 41,197,782	$ 37,569,549
720 LLC[Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding [Line Items]
Debt instrument, outstanding	$ 0	9,741,463
Debt instrument, fixed interest rate	6.00%
TOTB North, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding [Line Items]
Debt instrument, outstanding	$ 10,945,502	1,007,919
Debt instrument, fixed interest rate	4.50%
TOTB Miami, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding [Line Items]
Debt instrument, outstanding	$ 12,754,415	12,975,167
Debt instrument, fixed interest rate	4.33%
Tahoe Stateline Venture, LLC Note 1 [Member] | Tahoe Stateline Venture, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding [Line Items]
Debt instrument, outstanding	$ 2,900,000	2,900,000
Debt instrument, fixed interest rate	5.00%
Tahoe Stateline Venture, LLC Note 3 [Member] | Tahoe Stateline Venture, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding [Line Items]
Debt instrument, outstanding	$ 500,000	500,000
Debt instrument, fixed interest rate	5.00%
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member]
Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Outstanding [Line Items]
Debt instrument, outstanding	$ 14,097,865	$ 10,445,000
Debt instrument, fixed interest rate	3.47%

Note 8 - Notes and Loans Paya44

Note 8 - Notes and Loans Payable on Real Estate (Details) - Notes and Loans Payable Maturities - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Notes and Loans Payable Maturities [Abstract]
2,016	$ 652,322
2,017	15,032,576
2,018	12,573,703
2,019	416,904
2,020	431,603
Thereafter	12,090,674
	$ 41,197,782	$ 37,569,549

Note 9 - Transactions with Af45

Note 9 - Transactions with Affiliates (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Note 9 - Transactions with Affiliates (Details) [Line Items]
Management Fee Expense	$ 513,292	$ 435,652	$ 1,410,293	$ 1,275,901
Professional and Contract Services Expense	46,663	39,605	128,208	115,991
Due to Related Parties	234,588		234,588		$ 283,644
Late Fee Income Generated by Servicing Financial Assets, Amount	0	2,000	17,000	4,000
Ancillary Fee Income Generated by Servicing Financial Assets, Amount	2,000	1,000	6,000	2,000
Loan Fees Earned by OFG	289,000	186,000	1,001,000	726,000
Owens Financial Group, Inc. [Member]
Note 9 - Transactions with Affiliates (Details) [Line Items]
Due to Related Parties	43,000		43,000		113,000
Loans Originated Or Extended	11,982,000	8,025,000	42,034,000	30,226,000
Related Party Transaction, Amounts of Transaction	130,000	$ 167,000	394,000	507,000
Related Party Transaction, Purchases from Related Party			1,499,000
OFG Officers [Member]
Note 9 - Transactions with Affiliates (Details) [Line Items]
Related Party Transaction, Amounts of Transaction			1,000	1,000
Investor's Yield, Inc. [Member]
Note 9 - Transactions with Affiliates (Details) [Line Items]
Related Party Transaction, Amounts of Transaction			$ 7,000	$ 30,000
Management Fee [Member]
Note 9 - Transactions with Affiliates (Details) [Line Items]
Related Party Transaction, Rate			2.75%
Servicing Fee [Member]
Note 9 - Transactions with Affiliates (Details) [Line Items]
Related Party Transaction, Rate			0.25%
Management and Service Fees [Member] | Owens Financial Group, Inc. [Member]
Note 9 - Transactions with Affiliates (Details) [Line Items]
Due to Related Parties	$ 192,000		$ 192,000		$ 171,000

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Details) - USD ($)	Oct. 14, 2015	Sep. 18, 2015	Jul. 14, 2015	Jun. 19, 2015	Apr. 14, 2015	Mar. 18, 2015	May. 19, 2014	Aug. 09, 2013	Oct. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	May. 27, 2015	Dec. 31, 2014
Note 10 - Stockholders' Equity (Details) [Line Items]
Common Stock, Dividends, Per Share, Declared (in Dollars per share)		$ 0.08		$ 0.18		$ 0.07				$ 0.08	$ 0.05	$ 0.33	$ 0.15
Payments of Dividends			$ 1,938,240		$ 753,760							$ 3,981,246	$ 1,256,133
Net Capital Gains on Sales of Investment Real Estate										$ 12,710,000		$ 12,710,000
Capital Gains, Federal Statutory Income Tax Rate, Percent										35.00%		35.00%
Treasury Stock, Value, Acquired, Cost Method												$ 5,252,848	$ 325,488
Treasury Stock, Shares (in Shares)										790,381		790,381			430,118
Treasury Stock, Value										$ 10,602,004		$ 10,602,004			$ 5,349,156
Old Repurchase Plan [Member]
Note 10 - Stockholders' Equity (Details) [Line Items]
Stock Repurchase Program, Authorized Amount								$ 7,000,000
Stock Repurchase Program Authorized Amount Percentage of Outstanding Shares								5.00%
Treasury Stock, Shares, Acquired (in Shares)													26,208
Treasury Stock, Value, Acquired, Cost Method													$ 325,000
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)							$ 12.44						$ 12.42
Treasury Stock, Shares (in Shares)							430,118
Treasury Stock, Value							$ 5,349,000
New Repurchase Plan [Member]
Note 10 - Stockholders' Equity (Details) [Line Items]
Stock Repurchase Program, Authorized Amount														$ 7,500,000
Treasury Stock, Shares, Acquired (in Shares)										360,263
Treasury Stock, Value, Acquired, Cost Method										$ 5,253,000
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)										$ 14.58
Subsequent Event [Member]
Note 10 - Stockholders' Equity (Details) [Line Items]
Payments of Dividends	$ 835,533
Subsequent Event [Member] | New Repurchase Plan [Member]
Note 10 - Stockholders' Equity (Details) [Line Items]
Treasury Stock, Shares, Acquired (in Shares)									66,528
Treasury Stock, Value, Acquired, Cost Method									$ 938,000
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)									$ 14.10

Note 11 - Restricted Cash (Deta

Note 11 - Restricted Cash (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Note 11 - Restricted Cash (Details) [Line Items]
Restricted Cash and Cash Equivalents	$ 7,495,337	$ 6,248,746
Escrow Deposit	495,000	249,000
Contingency Reserves [Member]
Note 11 - Restricted Cash (Details) [Line Items]
Restricted Cash and Cash Equivalents	4,009,000	$ 3,876,000
Minimum [Member] | Contingency Reserves [Member]
Note 11 - Restricted Cash (Details) [Line Items]
Restricted Cash and Cash Equivalents	$ 7,000,000

Note 12 - Fair Value (Details)

Note 12 - Fair Value (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Note 12 - Fair Value (Details) [Line Items]
Allowance for Loan and Lease Losses, Adjustments, Other	$ (44,316)	$ (117,680)	$ (472,359)	$ (141,032)
Impairment of Real Estate	0	123,500	1,256,434	179,040
Liabilities, Fair Value Disclosure, Nonrecurring	0		$ 0		$ 0
Limit of Days Until Becoming Delinquent [Member]
Note 12 - Fair Value (Details) [Line Items]
Number of Days Delinquent			90 days
Excluding Loan Loss Reversal Foreclosed Loan [Member]
Note 12 - Fair Value (Details) [Line Items]
Allowance for Loan and Lease Losses, Adjustments, Other	$ (64,000)	$ 8,000	$ (70,000)	$ 81,000

Note 12 - Fair Value (Details)

Note 12 - Fair Value (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Impaired Loans [Member]
Nonrecurring:
Impaired loans	$ 6,808,859	$ 6,673,689
Real Estate Properties [Member]
Nonrecurring:
Impaired loans	4,557,000	3,627,273
Commercial Portfolio Segment [Member] | Impaired Loans [Member]
Nonrecurring:
Impaired loans	664,859	529,689
Residential Portfolio Segment [Member] | Impaired Loans [Member]
Nonrecurring:
Impaired loans	6,144,000	6,144,000
Land1 [Member] | Real Estate Properties [Member]
Nonrecurring:
Impaired loans	4,557,000	2,334,773
Commercial Real Estate1 [Member] | Real Estate Properties [Member]
Nonrecurring:
Impaired loans		1,292,500
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member]
Nonrecurring:
Impaired loans	6,808,859	6,673,689
Fair Value, Inputs, Level 3 [Member] | Real Estate Properties [Member]
Nonrecurring:
Impaired loans	4,557,000	3,627,273
Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | Impaired Loans [Member]
Nonrecurring:
Impaired loans	664,859	529,689
Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | Impaired Loans [Member]
Nonrecurring:
Impaired loans	6,144,000	6,144,000
Fair Value, Inputs, Level 3 [Member] | Land1 [Member] | Real Estate Properties [Member]
Nonrecurring:
Impaired loans	$ 4,557,000	2,334,773
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate1 [Member] | Real Estate Properties [Member]
Nonrecurring:
Impaired loans		$ 1,292,500

Note 12 - Fair Value (Details50

Note 12 - Fair Value (Details) - Level 3 Fair Value Measurements for Financial Instruments - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Impaired Loans [Member]
Impaired Loans:
Impaired loans (in Dollars)	$ 6,808,859	$ 6,673,689
Real Estate Properties [Member]
Impaired Loans:
Impaired loans (in Dollars)	4,557,000	3,627,273
Commercial Portfolio Segment [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans (in Dollars)	664,859	529,689
Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans (in Dollars)	$ 664,859	$ 529,689
Impaired loans, estimate of future improvements	31.90%	13.60%
Commercial Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, capitalization rate	7.00%	6.50%
Residential Portfolio Segment [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans (in Dollars)	$ 6,144,000	$ 6,144,000
Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans (in Dollars)	$ 6,144,000	$ 6,144,000
Impaired loans, estimate of future improvements	1.80%	1.80%
Residential Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, discount rate	12.00%	12.00%
Land1 [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans (in Dollars)	$ 4,557,000	$ 2,334,773
Land1 [Member] | Income Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, discount rate		8.00%
Land1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans (in Dollars)	$ 4,557,000	$ 2,334,773
Impaired loans, comparable sales adjustment	(19.00%)
Commercial Real Estate1 [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans (in Dollars)		1,292,500
Commercial Real Estate1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans (in Dollars)		$ 1,292,500
Minimum [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment	(20.00%)	(59.00%)
Minimum [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment	(10.00%)	(10.00%)
Minimum [Member] | Land1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment		5.00%
Minimum [Member] | Commercial Real Estate1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment		(42.00%)
Maximum [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment	30.00%	(2.30%)
Maximum [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment	20.00%	20.00%
Maximum [Member] | Land1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment		62.80%
Maximum [Member] | Commercial Real Estate1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment		13.40%
Weighted Average [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, estimate of future improvements
Weighted Average [Member] | Commercial Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, capitalization rate
Weighted Average [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment
Weighted Average [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, estimate of future improvements
Weighted Average [Member] | Residential Portfolio Segment [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, discount rate
Weighted Average [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment
Weighted Average [Member] | Land1 [Member] | Income Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, discount rate
Weighted Average [Member] | Land1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment
Weighted Average [Member] | Commercial Real Estate1 [Member] | Market Approach Valuation Technique [Member] | Real Estate Properties [Member]
Impaired Loans:
Impaired loans, comparable sales adjustment

Note 12 - Fair Value (Details51

Note 12 - Fair Value (Details) - Carrying Amounts and Estimated Fair Values of Financial Instruments - USD ($)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Financial assets
Cash and cash equivalents	$ 6,707,686	$ 1,413,545	$ 4,060,675	$ 8,158,734
Cash and cash equivalents, fair value	6,708,000	1,414,000
Restricted Cash, fair value	7,495,337	6,248,746
Loans, net	73,492,372	65,164,156
Loans, net, fair value	73,469,000	66,009,000
Investment in limited liability company	2,188,064	2,142,581
Investment in limited liability company, fair value	2,352,000	2,352,000
Interest and other receivables	1,688,948	1,482,380
Interest and other receivables, fair value	1,026,000	838,000
Financial liabilities
Due to Manager	234,588	283,644
Due to Manager, fair value	234,588	283,644
Accrued interest payable, fair value	186,000	175,000
Line of credit payable	8,954,000	11,450,000
Line of credit payable, fair value	8,954,000	11,450,000
Notes payable	41,197,782	37,569,549
Notes payable, fair value	41,198,000	37,583,000
Reported Value Measurement [Member]
Financial assets
Cash and cash equivalents	6,708,000	1,414,000
Restricted Cash	7,495,000	6,249,000
Loans, net	73,492,000	65,164,000
Investment in limited liability company	2,188,000	2,143,000
Interest and other receivables	1,026,000	838,000
Financial liabilities
Due to Manager	235,000	284,000
Due to Manager, fair value	235,000	284,000
Accrued interest payable	186,000	175,000
Line of credit payable	8,954,000	11,450,000
Notes payable	41,198,000	37,570,000
Fair Value, Inputs, Level 1 [Member]
Financial assets
Cash and cash equivalents, fair value	6,708,000	1,414,000
Restricted Cash, fair value	7,495,000	6,249,000
Loans, net, fair value	0	0
Investment in limited liability company, fair value	0	0
Interest and other receivables, fair value	0	0
Financial liabilities
Due to Manager	0	0
Due to Manager, fair value	0	0
Accrued interest payable, fair value	0	0
Line of credit payable, fair value	0
Notes payable, fair value	0	0
Fair Value, Inputs, Level 2 [Member]
Financial assets
Cash and cash equivalents, fair value	0	0
Restricted Cash, fair value	0	0
Loans, net, fair value	0	0
Investment in limited liability company, fair value	0	0
Interest and other receivables, fair value	0	0
Financial liabilities
Due to Manager	235,000	284,000
Due to Manager, fair value	235,000	284,000
Accrued interest payable, fair value	132,000	113,000
Line of credit payable, fair value	8,954,000	11,450,000
Notes payable, fair value	37,798,000	24,428,000
Fair Value, Inputs, Level 3 [Member]
Financial assets
Cash and cash equivalents, fair value	0	0
Restricted Cash, fair value	0	0
Loans, net, fair value	73,469,000	66,009,000
Investment in limited liability company, fair value	2,352,000	2,352,000
Interest and other receivables, fair value	1,026,000	838,000
Financial liabilities
Due to Manager	0	0
Due to Manager, fair value	0	0
Accrued interest payable, fair value	54,000	62,000
Line of credit payable, fair value	0	0
Notes payable, fair value	$ 3,400,000	$ 13,155,000

Note 13 - Commitments and Con52

Note 13 - Commitments and Contingencies (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2012	Dec. 31, 2014
Note 13 - Commitments and Contingencies (Details) [Line Items]
Payments for Environmental Liabilities		$ 460,000
Accrual for Environmental Loss Contingencies, Provision for New Losses		$ 100,000
Accrual for Environmental Loss Contingencies	$ 39,000		$ 60,000
Contractual Obligation	6,719,000
Low Level of Arsenic in Non-Drinking Well Water [Member]
Note 13 - Commitments and Contingencies (Details) [Line Items]
Accrual for Environmental Loss Contingencies	104,000		$ 79,000
Tahoe Stateline Venture, LLC [Member]
Note 13 - Commitments and Contingencies (Details) [Line Items]
Contractual Obligation	4,333,000
Contractual Obligation, Incurred	2,244,000
TOTB North, LLC [Member]
Note 13 - Commitments and Contingencies (Details) [Line Items]
Contractual Obligation	21,042,000
Contractual Obligation, Incurred	13,963,000
Other Construction Costs	1,638,000
Construction Costs Incurred and Other Costs	15,601,000
Interest Reserves [Member]
Note 13 - Commitments and Contingencies (Details) [Line Items]
Contractual Obligation	922,000
New Bathrooms, Modular Offices, and Improvements to Bridge [Member]
Note 13 - Commitments and Contingencies (Details) [Line Items]
Contractual Obligation	791,000
Contractual Obligation, Incurred	$ 633,000