Owens Realty Mortgage (ORM) 10-K 15 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Mar. 10, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	Owens Realty Mortgage, Inc.
Entity Central Index Key	1,556,364
Trading Symbol	orm
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		10,247,000
Entity Public Float			$ 170,518
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 434,243	$ 1,255,842
Restricted cash	6,500,000	7,225,371
Loans, net of allowance for loan losses of $2,706,822 in 2016 and $1,842,446 in 2015	126,975,489	104,901,361
Interest and other receivables	2,164,335	1,764,918
Other assets, net of accumulated depreciation and amortization of $251,729 in 2016 and $275,277 in 2015	803,676	741,001
Deferred financing costs, net of accumulated amortization of $107,744 in 2016 and $323,325 in 2015	171,855	126,308
Deferred tax assets, net	7,248,977
Investment in limited liability company	2,140,482	2,141,032
Real estate held for sale	75,843,635	100,191,166
Real estate held for investment, net of accumulated depreciation of $3,151,427 in 2016 and $2,915,596 in 2015	37,279,763	53,647,246
Total assets	259,562,455	271,994,245
Liabilities:
Dividends payable	1,402,496	2,133,455
Due to Related Parties	360,627	408,643
Accounts payable and accrued liabilities	3,699,859	3,359,294
Deferred gains	209,662	209,662
Lines of credit payable	4,976,000	20,915,500
Notes and loans payable on real estate	33,385,934	45,458,844
Total liabilities	44,034,578	72,485,398
Commitments and Contingencies (Note 15)
Equity:
Preferred stock, $.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2016 and 2015
Common stock, $.01 par value per share, 50,000,000 shares authorized, 11,198,119 shares issued, 10,247,477 shares outstanding at December 31, 2016 and 2015	111,981	111,981
Additional paid-in capital	182,437,522	182,437,522
Treasury stock, at cost – 950,642 shares at December 31, 2016 and 2015	(12,852,058)	(12,852,058)
Retained earnings	45,830,432	25,282,553
Total stockholders’ equity	215,527,877	194,979,998
Non-controlling interests		4,528,849
Total equity	215,527,877	199,508,847
Total liabilities and equity	$ 259,562,455	$ 271,994,245

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Loans, allowance for losses	$ 2,706,822	$ 1,842,446
Other assets, accumulated depreciation and amortization	251,729	275,277
Deferred financing costs, accumulated amortization	107,744	323,325
Real estate held for investment, accumulated depreciation	$ 3,151,427	$ 2,915,596
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	11,198,119	11,198,119
Common stock, shares outstanding (in shares)	10,247,477	10,247,477
Treasury stock, shares (in shares)	950,642	950,642

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Interest income on loans	$ 8,922,142	$ 8,277,004	$ 5,382,019
Rental and other income from real estate properties	7,977,400	12,791,096	12,268,214
Income from investment in limited liability company	179,449	175,451	169,999
Other income			19
Total revenues	17,078,991	21,243,551	17,820,251
Expenses:
Management fees to Manager	3,286,470	2,051,134	1,726,945
Servicing fees to Manager	298,770	186,467	156,995
General and administrative expense	1,568,890	1,278,994	1,661,210
Rental and other expenses on real estate properties	7,045,848	8,510,110	8,158,038
Depreciation and amortization	1,258,305	2,052,181	2,255,577
Interest expense	2,859,294	1,938,113	1,161,822
Bad debt expense from uncollectible rent	14,678	152,805	3,396
Provision for (recovery of) loan losses	1,284,896	(1,026,909)	(1,869,733)
Impairment losses on real estate properties	3,227,807	1,589,434	179,040
Total expenses	20,844,958	16,732,329	13,433,290
Operating (loss) income	(3,765,967)	4,511,222	4,386,961
Gain on sales of real estate, net	24,497,763	21,818,553	3,243,359
Gain on foreclosure of loans			464,754
Net income before income tax expense	20,731,796	26,329,775	8,095,074
Income tax benefit (expense)	7,248,977	(93,335)
Net income	27,980,773	26,236,440	8,095,074
Less: Net income attributable to non-controlling interests	(3,571,003)	(2,667,324)	(165,445)
Net income attributable to common stockholders	$ 24,409,770	$ 23,569,116	$ 7,929,629
Per common share data:
Basic and diluted earnings per common share (in dollars per share)	$ 2.38	$ 2.22	$ 0.74
Basic and diluted weighted average number of common shares outstanding (in shares)	10,247,477	10,594,807	10,768,370
Dividends declared per share of common stock (in dollars per share)	$ 0.32	$ 0.41	$ 0.27

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balances (in shares) at Dec. 31, 2013	11,198,119		(403,910)
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
Net income				7,929,629	7,929,629	165,445	8,095,074
Dividends declared				(2,906,693)	(2,906,693)		(2,906,693)
Purchase of treasury stock (in shares)			(26,208)
Purchase of treasury stock			$ (325,488)		(325,488)		(325,488)
Contribution from non-controlling interest						112,533	112,533
Distributions to non-controlling interests						(2,455,121)	(2,455,121)
Balances (in shares) at Dec. 31, 2014	11,198,119		(430,118)
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
Contribution from non-controlling interest						112,533	112,533
Net income				23,569,116	23,569,116	2,667,324	26,236,440
Dividends declared				(4,344,417)	(4,344,417)		(4,344,417)
Purchase of treasury stock (in shares)			(520,524)
Purchase of treasury stock			$ (7,502,902)		(7,502,902)		(7,502,902)
Contribution from non-controlling interest						279,184	279,184
Distributions to non-controlling interests						(2,592,412)	(2,592,412)
Balances (in shares) at Dec. 31, 2015	11,198,119		(950,642)
Balances at Dec. 31, 2015	$ 111,981	182,437,522	$ (12,852,058)	25,282,553	194,979,998	4,528,849	199,508,847
Tax payment made on behalf of stockholders (Note 9)				(1,313,657)	(1,313,657)		(1,313,657)
Contribution from non-controlling interest						279,184	279,184
Net income				24,409,770	24,409,770	3,571,003	27,980,773
Dividends declared				(3,279,193)	(3,279,193)		(3,279,193)
Contribution from non-controlling interest						44,207	44,207
Distributions to non-controlling interests						(8,144,059)	(8,144,059)
Balances (in shares) at Dec. 31, 2016	11,198,119		(950,642)
Balances at Dec. 31, 2016	$ 111,981	182,437,522	$ (12,852,058)	45,830,432	215,527,877		215,527,877
Tax payment made on behalf of stockholders (Note 9)				(582,698)	(582,698)		(582,698)
Contribution from non-controlling interest						$ 44,207	$ 44,207

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 27,980,773	$ 26,236,440	$ 8,095,074
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Gain on sales of real estate, net	(24,497,763)	(21,818,553)	(3,243,359)
Gain on foreclosures of loans			(464,754)
Deferred income tax benefit	(7,248,977)
Income from investment in limited liability company	(179,449)	(175,451)	(169,999)
Provision for (reversal of) loan losses	1,284,896	(1,026,909)	(1,869,733)
Impairment losses on real estate properties	3,227,807	1,589,434	179,040
Depreciation and amortization	1,258,305	2,052,181	2,255,577
Amortization of deferred financing costs	456,168	367,471	132,723
Accretion of discount on loans		(536,816)	(122,004)
Changes in operating assets and liabilities:
Interest and other receivables	(441,985)	(282,538)	(944,608)
Other assets	(420,759)	(122,622)	(118,577)
Accounts payable and accrued liabilities	(2,314,291)	(526,952)	(752,081)
Due to Manager	(48,016)	124,999	(10,132)
Net cash (used in) provided by operating activities	(943,292)	5,880,684	2,967,167
Cash flows from investing activities:
Principal collected on loans	55,849,884	35,216,165	27,718,917
Investments in loans and other advances to borrowers	(78,272,140)	(68,739,645)	(44,805,577)
Investment in real estate properties	(26,406,879)	(23,607,553)	(21,605,288)
Net proceeds from disposition of real estate properties	89,401,642	48,602,328	1,822,020
Purchases of vehicles and equipment	(29,887)	(48,402)	(22,212)
Distribution received from investment in limited liability company	180,000	177,000	170,000
Transfer from (to) restricted cash, net	725,371	(976,625)	(2,153,311)
Net cash provided by (used in) investing activities	41,447,991	(9,376,732)	(38,875,451)
Cash flows from financing activities
Advances on notes payable	23,966,383	28,603,251	23,331,207
Repayments on notes payable	(36,380,880)	(20,055,762)	(800,954)
Advances on lines of credit	79,416,793	69,247,500	59,879,345
Repayments of lines of credit	(95,356,293)	(59,782,000)	(48,429,345)
Payment of deferred financing costs	(279,599)	(41,735)	(354,549)
Distributions to non-controlling interests	(8,144,059)	(2,592,412)	(2,455,121)
Contribution from non-controlling interest	44,207	279,184	112,533
Purchase of treasury stock		(7,502,902)	(325,488)
Dividends paid	(4,592,850)	(4,816,779)	(1,794,533)
Net cash (used in) provided by financing activities	(41,326,298)	3,338,345	29,163,095
Net decrease in cash and cash equivalents	(821,599)	(157,703)	(6,745,189)
Cash and cash equivalents at beginning of year	1,255,842	1,413,545	8,158,734
Cash and cash equivalents at end of year	434,243	1,255,842	1,413,545
Supplemental Disclosures of Cash Flow Information
Cash paid during the year for interest (excluding amounts capitalized)	2,495,000	1,570,887	915,117
Cash paid during the year for interest that was capitalized	555,453	393,591	213,934
Cash paid during the year for income taxes		93,335
Supplemental Disclosure of Non-Cash Activity
Increase in real estate from loan foreclosures	700,800		9,107,652
Decrease in loans, net of allowance for loan losses, from loan foreclosures	(631,232)		(7,671,446)
Decrease in interest and other receivables from adding balances to loans	(69,568)
Decrease in interest and other receivables from loan foreclosures			(1,436,206)
Increase in loans from sales of real estate	1,595,000	4,650,000
Deferred financing costs paid from notes payable proceeds			1,121,711
Amortization of deferred financing costs capitalized to construction project	(119,471)	(207,347)	(120,952)
Capital expenditures financed through accounts payable	(2,654,856)	(1,666,572)	(261,010)
Dividends declared but not paid	$ (1,402,496)	$ (2,133,455)	$ (1,292,160)

Note 1 - Organization

Note 1 - Organization	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
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, 50,000,000 $0.01 5,000,000 $0.01 4, February 12, 2013 333 184392). April 16, 2013 May 20, 2013. 12g 3(a) 1934, 11,198,119 January 1, 2013. The Company has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, 100% 90%

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 Basis of Presentation The consolidated financial statements include the accounts of the Company and its majority and wholly owned limited liability companies. All significant inter-company transactions and balances have been eliminated in consolidation. The Company also has a 50% 4). one Certain reclassifications have been made to the 2014 2015 2016 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 November 2016, 2016 18, 230) 2016 18. 2016 18 December 15, 2017, 2016 18 In August 2016, 2016 15, 230) 2016 15. 2016 15 eight December 15, 2017, 2016 15 In June 2016, 2016 13, 326) 2016 13. 2016 13 2016 13 December 15, 2019, December 15, 2018. 2016 13 may In March 2016, 2016 07, 323) 2016 07. 2016 07 323 December 15, 2016, 2016 07 In February 2016, 2016 02, 842)” 2016 02. 2016 02 December 15, 2018, 2016 02 In January 2016, 2016 01, 825 10) 2016 1. 2016 01 December 15, 2017, 2016 01 In May 2014, 2014 09, 606),” 2014 09. 2014 09 2014 09’s one 2015 14, first December 15, 2017, Recently Adopted Accounting Pronouncements In April 2015, 2015 03, 835 30) 2015 03. 2015 03 August 2015, 2015 15 2016 2015 15. $463,000 $658,000 December 31, 2016 2015, In August 2014, 2014 15, 205 40): 2014 15. 2014 15 2014 15 December 15, 2016. 2014 15 Cash and Cash Equivalents Cash and cash equivalents include funds on deposit with financial institutions. Restricted Cash Restricted cash includes contingency reserves required pursuant to the Company’s charter, non-interest bearing deposits required pursuant to the Company’s lines of credit (see Note 7) 10). Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and loans. The Company places its cash and cash equivalents with financial institutions and, at times, cash held may Loans and Allowance for Loan Losses Loans are generally stated at the principal amount outstanding. Advances under the terms of a loan to pay property taxes, insurance, legal and other costs are generally capitalized and reported as interest and other receivables. The Company’s portfolio consists primarily of real estate loans generally collateralized by first, second third ninety 12). Loans and the related accrued interest and advances are analyzed by management on a periodic basis for ultimate recovery. The allowance for loan losses is management’s estimate of probable credit losses inherent in the Company’s loan portfolio that have been incurred as of the balance sheet date. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan growth. Credit exposures determined to be uncollectible are charged against the allowance. Cash received on previously charged off amounts is recorded as a recovery to the allowance. The overall allowance consists of two Regardless of the loan type, a loan is considered impaired when, based on current information and events, management believes it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. All loans determined to be impaired are individually evaluated for impairment. When a loan is considered impaired, management estimates impairment based on the present value of expected future cash flows discounted at the loan's effective interest rate, except that as a practical expedient, management may fourth may A restructuring of a debt constitutes a troubled debt restructuring (“TDR”) if the Company for economic or legal reasons related to the debtor's financial difficulties grants a concession to the debtor that it would not otherwise consider. Restructured loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans that are reported as TDR’s are considered impaired and measured for impairment as described above. The determination of the general reserve for loans that are not considered impaired and are collectively evaluated for impairment is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment, internal asset classifications, and qualitative factors to include economic trends in the Company’s service areas, industry experience and trends, geographic concentrations, estimated collateral values, the Company’s underwriting policies, the character of the loan portfolio, and probable incurred losses inherent in the portfolio taken as a whole. The Company maintains a separate allowance for each portfolio segment (loan type). These portfolio segments include commercial real estate, residential real estate and land loans. The allowance for loan losses attributable to each portfolio segment, which includes both impaired loans that are individually evaluated for impairment and loans that are not considered impaired and are collectively evaluated for impairment, is combined to determine the Company’s overall allowance, which is included on the consolidated balance sheet. The allowance for loans that are not considered impaired consists of reserve factors that are based on management’s assessment of the following for each portfolio segment: (1) (2) (3) Land Loans Commercial and Residential Real Estate Loans may Management monitors the credit quality of the Company’s loan portfolio on an ongoing basis using certain credit quality indicators including a loan’s delinquency status and internal asset classification. A loan is considered classified when it meets the definition of impaired as described above. Other Assets Other assets primarily include deferred rent, capitalized lease commissions, prepaid expenses, deposits and inventory. Amortization of lease commissions is provided on the straight-line method over the lives of the related leases. Deferred Financing Costs Issuance and other costs related to the Company’s lines of credit and certain notes payable are capitalized and amortized to interest expense under either the straight-line or effective interest methods over the terms of the respective debt instruments. Deferred financing costs related to the construction loans in Zalanta Resort at the Village, LLC and TOTB North, LLC have been amortized to the construction projects under the straight-line method over the term of construction/renovation. Rental Income The Company leases multifamily rental units under operating leases with terms of generally one Real Estate Held for Sale Real estate held for sale includes real estate acquired in full or partial settlement of loan obligations, generally through foreclosure, that is being marketed for sale. Real estate held for sale is recorded at acquisition at the property’s estimated fair value less estimated costs to sell. Any excess of the recorded investment in the loan over the net realizable value is charged against the allowance for loan losses. Any excess of the net realizable value over the recorded investment in the loan is credited first After acquisition, costs incurred relating to the development and improvement of property are capitalized to the extent they do not cause the recorded value to exceed the net realizable value, whereas costs relating to holding and disposition of the property are expensed as incurred. After acquisition, real estate held for sale is analyzed periodically for changes in fair values and any subsequent write down is charged to impairment losses on real estate properties. Any recovery in the fair value subsequent to such a write down is recorded (not to exceed the net realizable value at acquisition) as an offset to impairment losses on real estate properties. Gains on the sale of real estate are recorded using the full accrual method whereby the amount by which the net sale proceeds exceeds the property’s carrying amount is recorded as gain in full on the date of sale if the following criteria are met: ● The gain is determinable, that is, the collectability of the sales price is reasonably assured or the amount that will not be collectible can be estimated. ● The earnings process is virtually complete, that is, the Company is not obliged to perform significant activities after the sale in order to earn the gain. Sales of real estate properties that do not meet the criteria for the full accrual method are accounted for as follows: ● Deposit method – If it is determined a sale has not consummated, the Company does not derecognize its recorded investment in the property and the transaction is accounted for under the deposit method whereby any initial investment from the buyer is accounted for as a deposit liability. ● Cost recovery method – If recovery of the cost of the property is not reasonably assured if the buyer defaults or if cost has already been recovered and collection of additional amounts is uncertain, the cost recovery method is used whereby no gain is recognized until cash payments from the buyer exceed the Company's recorded investment in the property sold. ● Installment method – If the buyer's initial investment is inadequate, as measured by its composition and its size compared with the sales value of the property, and if recovery of the carrying amount of the property is reasonably assured if the buyer defaults, the transaction is accounted for under the installment method whereby each cash receipt and principal payment by the buyer on debt assumed is allocated between cost recovered and gain. This allocation is in the same ratio as total cost and total gain bear to the sales value. ● Reduced profit method – If the buyer’s initial investment is adequate but the buyer’s continuing investment is inadequate, as measured by the annual payments required by the buyer compared to a 20 first (20 first first may Real Estate Held for Investment Real estate held for investment includes real estate acquired in full or partial settlement of loan obligations, generally through foreclosure, that is not being marketed for sale and is either being operated, such as rental properties; is being managed through the development process, including obtaining appropriate and necessary entitlements, permits and construction; or are idle properties awaiting more favorable market conditions or properties the Company cannot sell without placing the Company’s REIT status at risk or becoming subject to prohibited transactions penalty tax. Real estate held for investment is recorded at acquisition at the property’s estimated fair value, less estimated costs to sell. After acquisition, costs incurred relating to the development and improvement of the property are capitalized, whereas costs relating to operating or holding the property are expensed. Subsequent to acquisition, management periodically compares the carrying value of real estate to expected undiscounted future cash flows 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 estimated fair value through an impairment loss charged to earnings. Subsequent increases in the fair value of such properties are not recorded unless they are realized. Depreciation of real estate properties held for investment is provided on the straight-line method over the estimated remaining useful lives of buildings and improvements (5 39 tenant The Company reclassifies real estate properties from held for investment to held for sale in the period in which all of the following criteria are met: 1) 2) 3) 4) one 5) If circumstances arise that previously were considered unlikely, and, as a result, the Company decides not to sell a real estate property classified as held for sale, the property is reclassified to held for investment. The property is then measured individually at the lower of its carrying amount, adjusted for depreciation or amortization expense that would have been recognized had the property been continuously classified as held for investment, or its fair value at the date of the subsequent decision not to sell. Earnings per Common Share The Company calculates basic earnings per common share by dividing net income attributable to common stockholders for the period by the weighted-average shares of Common Stock outstanding for that period. Diluted earnings per common share takes into effect any dilutive instruments, unless if when doing so such effect would be anti-dilutive. At the present time, the Company has not no Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities, if any. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount that is “more likely than not” to be realized. The Company has elected to be taxed as a REIT. As a result of the Company’s REIT qualification and its distribution policy, the Company does not generally expect to pay U.S. federal corporate level income taxes. Many of the REIT requirements, however, are highly technical and complex. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that the Company distribute annually at least 90% may four may The Company has elected or may TRS” ). In general, a TRS of a REIT may may Gains on sales of certain properties may 1221(a)(1), The accounting guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. A tax position is recognized as a benefit only if it is “more likely than not” that the position would be sustained in a tax examination, with a tax examination being presumed to occur. The Company has analyzed its various federal and state filing positions and believes that its income tax filing positions and deductions are well documented and supported. There was no December 31, 2016 2015. Certain entities included in the Company’s consolidated financial statements are subject to certain state and local taxes. These taxes are recorded as general and administrative expenses in the accompanying consolidated financial statements.

Note 3 - Loans and Allowance fo

Note 3 - Loans and Allowance for Loan Losses	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Allowance for Credit Losses [Text Block]	NOTE 3 The following tables show the changes in the allowance for loan losses by portfolio segment for the years ended December 31, 2016, 2015 2014 December 31, 2016 2015 201 6 Commercial Residential Land Total Allowance for loan losses: Beginning balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Charge-offs (447,520 ) — — (447,520 ) Recoveries 27,000 — — 27,000 Provision 144,961 875,731 264,204 1,284,896 Ending balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Ending balance: individually evaluated for impairment $ — $ 732,712 $ — $ 732,712 Ending balance: collectively evaluated for impairment $ 864,971 $ 598,606 $ 510,533 $ 1,974,110 Ending balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Loans: Ending balance $ 102,442,111 $ 19,001,677 $ 8,238,523 $ 129,682,311 Ending balance: individually evaluated for impairment $ — $ 4,883,866 $ — $ 4,883,866 Ending balance: collectively evaluated for impairment $ 102,442,111 $ 14,117,811 $ 8,238,523 $ 124,798,445 201 5 Commercial Residential Land Total Allowance for loan losses: Beginning balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355 Charge-offs — — — — Provision (Reversal) 252,270 (1,519,525 ) 240,346 (1,026,909 ) Ending balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Ending balance: individually evaluated for impairment $ 485,823 $ — $ — $ 485,823 Ending balance: collectively evaluated for impairment $ 654,707 $ 455,587 $ 246,329 $ 1,356,623 Ending balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Loans: Ending balance $ 76,800,297 $ 24,675,867 $ 5,267,643 $ 106,743,807 Ending balance: individually evaluated for impairment $ 1,078,752 $ 7,615,055 $ — $ 8,693,807 Ending balance: collectively evaluated for impairment $ 75,721,545 $ 17,060,812 $ 5,267,643 $ 98,050,000 201 4 Commercial Residential Land Total Allowance for loan losses: Beginning balance $ 932,651 $ 3,798,203 $ 8,234 $ 4,739,088 Charge-offs — — — — (Reversal) (44,391 ) (1,823,091 ) (2,251 ) (1,869,733 ) Ending balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355 The following tables show an aging analysis of the loan portfolio by the time monthly payments are past due at December 31, 2016 2015: December 31, 2016 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 $ — $ — $ — $ — $ 102,442,111 $ 102,442,111 Residential 1,983,247 — 4,883,866 6,867,113 12,134,564 19,001,677 Land 1,080,000 — — 1,080,000 7,158,523 8,238,523 $ 3,063,247 $ — $ 4,883,863 $ 7,947,113 $ 121,735,198 $ 129,682,311 December 31, 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 $ — $ — $ 1,078,752 $ 1,078,752 $ 75,721,545 $ 76,800,297 Residential — — 7,615,055 7,615,055 17,060,812 24,675,867 Land — — — — 5,267,643 5,267,643 $ — $ — $ 8,693,807 $ 8,693,807 $ 98,050,000 $ 106,743,807 All of the loans that were 90 December 31, 2016 2015. December 31, 2016 $8,686,000 ($3,675,000 $2,500,000 30 $1,175,000 30 59 $5,011,000 90 The following tables show information related to impaired loans as of and for the years ended December 31, 2016, 2015 2014: As of December 31, 201 6 Year Ended December 31, 201 6 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 1,684,877 $ 38,187 Residential 228,349 228,349 — 236,042 20,598 Land — — — — — $ 228,349 $ 228,349 $ 1,920,919 $ 58,785 With an allowance recorded: Commercial $ — $ — $ — $ 865,285 $ — Residential 5,145,712 4,655,517 732,712 6,209,540 — Land — — — — — $ 5,145,712 4,655,517 $ 732,712 $ 7,074,825 $ — Total: Commercial $ — $ — $ — $ 2,550,162 $ 38,187 Residential 5,374,061 4,883,866 732,712 6,445,582 20,598 Land — — — — — $ 5,374,061 $ 4,883,866 $ 732,712 $ 8,995,744 $ 58,785 As of December 31, 201 5 Year Ended December 31, 201 5 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 2,300,846 $ 639,935 Residential 8,063,450 7,615,055 — 8,217,114 192,491 Land — — — 310,011 216,904 $ 8,063,450 $ 7,615,055 $ 10,827,971 $ 1,049,330 With an allowance recorded: Commercial $ 1,144,864 $ 1,078,752 $ 485,823 $ 1,119,594 $ 49,442 Residential — — — — — Land — — — — — $ 1,144,864 1,078,752 $ 485,823 $ 1,119,594 $ 49,442 Total: Commercial $ 1,144,864 $ 1,078,752 $ 485,823 $ 3,420,440 $ 689,377 Residential 8,063,450 7,615,055 — 8,217,114 192,491 Land — — — 310,011 216,904 $ 9,208,314 $ 8,693,807 $ 485,823 $ 11,947,565 $ 1,098,772 Year Ended December 31, 201 4 Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 16,686,997 $ 1,714,230 Residential 1,986,693 688,196 Land 2,440,015 173,484 $ 21,113,705 $ 2,575,910 With an allowance recorded: Commercial $ 1,079,681 $ 47,958 Residential 7,983,366 150,000 Land — — $ 9,063,047 $ 197,958 Total: Commercial $ 17,766,678 $ 1,762,188 Residential 9,970,059 838,196 Land 2,440,015 173,484 $ 30,176,752 $ 2,773,868 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. The average recorded investment and interest income recognized on impaired loans for which no related allowance was recorded presented in the above tables are disclosed as such, even if these impaired loans may Troubled Debt Restructurings The Company had recorded specific loan loss allowances of approximately $733,000 $486,000 $5,374,000 $9,208,000 December 31, 2016 2015, not There were no December 31, 2016 2015. During the year ended December 31, 2014, one six April 2015. fourth 2015. The following table shows information related to the loan modification made by the Company during the year ended December 31, 2014 Modifications During the Year Ended December 31, 2014 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings That Occurred During the Year Land 1 $ 1,860,068 $ 1,860,068 There were no twelve December 31, 2016, 2015 2014. 90

Note 4 - Investment in Limited

Note 4 - Investment in Limited Liability Company	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 4 – INVESTMENT IN LIMITED LIABILITY COMPANY During 2008, 1850 (“1850”), July 2008, two two 1850. 1850 During the years ended December 31, 2016, 2015 2014, 1850 $180,000, $177,000 $170,000, 1850 $179,000, $175,000 $170,000 December 31, 2016, 2015 2014,

Note 5 - Real Estate Held for S

Note 5 - Real Estate Held for Sale	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Real Estate Owned [Text Block]	NOTE 5 Real estate properties held for sale as of December 31, 2016 2015 December 31, 2016 December 31, 2015 Land (including land under development) $ 73,140,659 $ 42,071,143 Residential — 51,942,601 Office 732,539 4,716,487 Industrial — 1,460,935 Golf course 1,970,437 — $ 75,843,635 $ 100,191,166 Transfers During the year ended December 31, 2016, four $10,052,000 (one one one one one During the year ended December 31, 2015, one $1,954,000 December 31, 2015, seven (two two one one one $64,628,000 During the year ended December 31, 2014, three (one one one $2,289,000 December 31, 2014, five (two two one $56,405,000 No December 31, 2016, 2015 2014. Impairment Losses During the year ended December 31, 2016, $3,228,000 ($2,110,000), ($1,094,000) ($24,000) During the year ended December 31, 2015, $1,589,000 on the unimproved residential and commercial land located in Gypsum, Colorado due to a new appraisal obtained as of December 31, 2015 During the year ended December 31, 2014, $179,000 Sales During the year ended December 31, 2016, seven (two one two two $89,402,000 $1,595,000, $24,498,000 ($20,782,000 $3,716,000 2016 During the year ended December 31, 2015, eight (three one one one one one $48,602,000 $4,650,000, $21,666,000 ($19,187,000 $2,479,000 2015 $153,000 December 31, 2015 2012. During the year ended December 31, 2014, two $1,821,000, $292,000. $2,951,000 December 31, 2014 2012 2013. In September, 2016, 8.0 $42.5 The closing (the "Closing") of the transaction is subject to a number of conditions, and on November 18, 2016 2”) March 31, 2017 March 31, 2017, 60 2 Buyer has paid $13,000,000 $3,000,000 $32.5 As a result of the execution of the Purchase Agreement, the Company transferred approximately $6,066,000 first second $28,975,000 December 31, 2016. Foreclosure s During the year ended December 31, 2016, one $1,079,000 In addition, accrued interest and advances made on the loan (for items such as legal fees and delinquent property taxes) in the total amount of approximately $70,000 $495,000. $47,000 $448,000). 2015, June 2016. The property is classified as held for sale as a sale is expected to be completed within a one There was no December 31, 2015. During the year ended December 31, 2014, one $690,000 The fair market value of the property acquired was estimated to be higher than the Company’s recorded investment in the subject loan, and, thus, a gain on foreclosure in the amount of approximately $208,000 December 31, 2015.

Note 6 - Real Estate Held for I

Note 6 - Real Estate Held for Investment	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Real Estate Held for Investment Disclosure [Text Block]	NOTE 6 Real estate held for investment as of December 31, 2016 2015 December 31, 2016 December 31, 2015 Retail $ 16,829,995 $ 23,122,714 Land 4,234,806 8,112,676 Residential 2,405,439 6,673,540 Assisted care 5,820,709 5,402,376 Office 3,962,869 4,315,608 Marina 4,025,945 4,079,087 Golf course — 1,941,245 $ 37,279,763 $ 53,647,246 The balances of land and the major classes of depreciable property for real estate held for investment as of December 31, 2016 2015 December 31, 2016 December 31, 2015 Land and land improvements $ 11,520,339 $ 23,443,676 Buildings and improvements 28,910,851 33,119,166 40,431,190 56,562,842 Less: Accumulated depreciation and amortization (3,151,427 ) (2,915,596 ) $ 37,279,763 $ 53,647,246 It is the Company’s intent to sell the majority of its real estate properties held for investment, but expected sales are not probable to occur within the next year. Depreciation expense was approximately $1,186,000, $1,971,000 $2,151,000 December 31, 2016, 2015 2014, Foreclosures There was no December 31, 2016 2015. During the year ended December 31, 2014, two $6,981,000 The fair market values of certain of the properties acquired were estimated to be higher than the Company’s recorded investments in the subject loans, and, thus a gain on foreclosure in the amount of approximately $257,000

Note 7 - Lines of Credit Payabl

Note 7 - Lines of Credit Payable	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 7 The Company borrows funds under the California Bank & Trust (“CB&T”) Line of Credit and, until its termination in 2016, December 31, 2016 2015, December 31, 2016 December 31, 2015 Outstanding Balance Total Commitment Outstanding Balance Total Commitment CB&T Line of Credit $ 4,976,000 $ 22,625,000 $ 8,289,500 $ 22,574,753 Opus Bank Line of Credit — — 12,626,000 12,626,000 Total $ 4,976,000 $ 22,625,000 $ 20,915,500 $ 35,200,753 CB&T Line of Credit In February 2014, April 2015 $30,000,000 March 1, 2016 $30,000,000 $50,000,000, $75,000,000, March 1, 2018. Such borrowings bear interest payable monthly at the prime rate of interest established by CB&T from time-to-time plus one (.25%) (4.0% December 31, 2016). 2.00%. $100,000 $177,000 December 31, 2016). $255,000 Interest expense on the CB&T Credit Facility was approximately $881,000, $431,000 $458,000 December 31, 2016, 2015 2014, $131,000, $126,000 $69,000, Borrowings under the CB&T Credit Facility are secured by certain assets of the Company. These collateral assets include the grant to CB&T of first As of December 31, 2016, Loans: December 31 , 201 6 Commercial $ 29,555,335 Residential 4,040,049 Total $ 33,595,384 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 December 31, 2016. Opus Bank Line of Credit In April 2014, 2016 The Opus Credit Facility required the payment of an origination fee of $100,000 $231,000 $364,000, $126,000 $112,000 December 31, 2016, 2015 2014, $103,000, $77,000 $51,000, $45,000 December 31, 2016.

Note 8 - Notes and Loans Payabl

Note 8 - Notes and Loans Payable on Real Estate	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Mortgage Notes Payable Disclosure [Text Block]	NOTE 8 The Company had the following notes and loans payable outstanding as of December 31, 2016 2015: December 31, 2016 Interest Rate December 31, 2015 Interest Rate Payment Terms/ Frequency Maturity Date Tahoe Stateline Venture, LLC Note #1 $ — — % $ 2,900,000 5.00 % Interest Only Semi-annual December 2016 Tahoe Stateline Venture, LLC Note #2 — — % 500,000 5.00 % Interest Only Quarterly August 2017 TOTB North, LLC Construction Loan Payable — — % 16,009,906 4.61 % Amortizing Monthly June 2017 TOTB Miami, LLC Loan Payable — — % 12,693,231 4.61 % Amortizing Monthly November 2017 Tahoe Stateline Venture, LLC Loan Payable 13,634,889 3.47 % 14,013,901 3.47 % Amortizing Monthly January 2021 Zalanta Construction Loan Payable 20,213,560 5.25 % — — % Interest Only Monthly August 2018 Principal amount $ 33,848,449 $ 46,117,038 Less unamortized deferred financing costs (462,515 ) (658,194 ) Notes and loans payable, net $ 33,385,934 $ 45,458,844 The following table shows maturities by year on these notes and loans payable as of December 31, 2016: Years ending December 31: 2017 $ 20,605,935 2018 406,209 2019 420,531 2020 435,358 2021 11,980,416 Thereafter — $ 33,848,449 Tahoe Stateline Venture , LLC Note s Payable The Company obtained these obligations as a result of the foreclosure or purchase of nine 2013 2012. $167,000, $170,000 $195,000 December 31, 2016, 2015 2014, December 31, 2016 2015, $0 $18,000, #1 $2,900,000 #2 $500,000 December 31, 2016. TOTB North, LLC Construction Loan Payable In June 2014, $21,304,000. September 2016. 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 were being amortized to the Project using the straight-line method through the Maturity Date of the loan. During the years ended December 31, 2016, 2015 2014, $36,000, $207,000 $121,000, $102,000 December 31, 2016. December 31, 2016, 2015 2014, $626,000, $278,000 $22,000, $134,000, $278,000 $22,000, Net debt issuance costs outstanding on the North Loan of approximately $156,000 TOTB Miami , LLC Loan Payable In November 2014, $13,000,000. 2014. September 2016. 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 were being amortized to interest expense using the effective interest method through the Maturity Date of the loan. During the years ended December 31, 2016, 2015 2014, $505,000, $690,000 $81,000, $84,000, $129,000 $12,000, Net debt issuance costs outstanding on the TOTB Miami Loan of approximately $98,000 Tahoe Stateline Venture , LLC Loan Payable In December 2014, $14,500,000. $10,445,000 first $3,830,000 September 2015. The maturity date of the TSV Loan is January 1, 2021 3.47% January 1, 2018 three five (5.00%) ten (10.00%) 90 January 1, 2018, 90 may During the term of the TSV Loan, TSV will make equal combined payments of principal and accrued interest on the first 300 The Credit Agreement required the payment of a closing fee of $108,750 $218,000. December 31, 2016, 2015 2014, $515,000, $427,000 $1,000, $36,000, $36,000 $0, 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 December 31, 2016. Zalanta Construction Loan Payable In August 2016, $31,000,000, Borrowings under the ZRV Loan documents are only for payment or reimbursement of approved Project costs and such borrowings are subject to customary conditions for loans of this type. The borrowings under the ZRV Loan may 60% 65% 1.50% five (5.0%) December 31, 2016 5.25%. five (5.0%) Interest only payments are payable monthly from an established interest reserve. In addition, on the last day of the calendar quarter in which a Certificate of Occupancy is obtained with respect to completion of the first $6 August 3, 2018. Borrowings are secured by: (i) a first $3,000,000 The Loan Agreement required the payment of an origination fee of $310,000 $400,000. December 31, 2016, $83,000 December 31, 2016, $272,000 The ZRV 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 December 31, 2016.

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 – STOCKHOLDERS’ EQUITY Dividends The following table presents the tax treatment for dividends paid by the Company on its Common Stock for the years ended December 31, 2016, 2015 2014: Dividend s Classified as Capital Gain Dividends Classified as Return of Capital Year Total (4) Dividend s Percent Dividend s Qualified 5 ) Percent Dividend Percent Dividend s Common Stock: 2016 (1) $ 3,279,193 $ 0.320 15.05 % $ 0.048 — 84.95 % $ 0.272 — % $ 0.000 2015 (2) $ 4,347,331 $ 0.410 100.00 % $ 0.410 — — % $ — — % $ 0.000 2014 (3) $ 3,087,360 $ 0.287 100.00 % $ 0.255 — — % $ — — % $ 0.000 (1) 2016 $582,698 2016 January 2017 (2) 2015 $1,313,657 2015 January 2016 $1,292,160 (3) (3) 2014 $1,292,160 December 31, 2014 January 2015. $0.07 $0.05 $0.088 2014 $0.032 2015 (4) $2,914 $667 2015 2014, (5) Stock Repurchase Programs On August 9, 2013, 10b5 1 “2013 $7 five December 31, 2014 2013, 26,208 403,910 $325,000 $5,024,000 $12.40 $12.44 2013 May 19, 2014. On May 27, 2015, second 10b5 1 “2015 $7.5 December 31, 2015, 520,524 $7,503,000 $14.41 2015 May 12, 2016. On December 11, 2015, 10b5 1 “2016 may $7.5 2016 2016 April 1, 2016 2016 March 31, 2017, may December 31, 2016.

Note 10 - Restricted Cash

Note 10 - Restricted Cash	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Contingencies Disclosure [Text Block]	NOTE 10 Contingency Reserves In accordance with its charter, the Company is required to maintain cash, cash equivalents and marketable securities as contingency reserves in an aggregate amount of 1.50% The contingency reserves required per the charter as of December 31, 2016 2015 $3,738,000 $3,809,000 $6,500,000 $7,000,000 December 31, 2016 2015, 7 8). Escrow Deposits Restricted cash includes deposits held in third $0 $225,000 December 31, 2016 2015,

Note 11 - Income Taxes

Note 11 - Income Taxes	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 11 The Company operates in such a manner as to qualify as a REIT, under the provisions of the Internal Revenue Code of 1986, 90% of its REIT taxable income to its shareholders as well as comply, generally, with certain other qualification requirements as defined under the Code. As a REIT, the Company is not subject to federal corporate income tax to the extent that it distributes 100% of its REIT taxable income each year. During 2016, 2015 2014, 100% 2016 2015, $4,451,000 $3,753,000, 2016 2015 (35%) $583,000 $1,314,000 January 2017 2016, December 31, 2016 2015. Taxable income from non-REIT activities managed through the Company's taxable REIT subsidiaries (“TRS”) (Lone Star Golf, Inc., Zalanta Resort at the Village, LLC and East G, LLC) is subject to federal, state and local income taxes. The Company did no December 31, 2016, 2015 2014 During 2016, two 75 $7,249,000 $15,450,000 December 31, 2016. In addition, during 2016, 2016 2015. no During the year ended December 31, 2015, $267,000 $93,000 December 31, 2015. As of December 31, 2016 2015, no two 2014 $822,000 December 31, 2014 2015. As of December 31, 2016, 2012 2016 2012, May 19, 2013. The components of the income tax benefit as it relates to the Company’s taxable income (loss) from domestic TRSs during the year ended December 31, 2016 Year Ended December 31, 2016 Federal State and Local Total Deferred benefit $ 5,861,030 $ 1,387,947 $ 7,248,977 Income tax benefit $ 5,861,030 $ 1,387,947 $ 7,248,977 A reconciliation of the income tax benefit (provision) based upon the statutory tax rates to the effective rates of our taxable REIT subsidiaries is as follows for the year ended December 31, 2016: Year Ended December 31 , 2016 Tax benefit (expense) at Federal statutory rate $ 423,847 State income tax benefit (expense), net of federal effect 916,045 Real estate basis differences at TRS conversion 6,753,272 Other (49,443 ) Change in valuation allowance (794,744 ) Income tax benefit $ 7,248,977 Significant components of the Company’s deferred tax assets (liabilities) for its TRS entities are as follows as of December 31, 2016: Deferred tax assets (liabilities): December 31 , 2016 Real estate basis differences $ 6,154,411 Net operating losses 1,889,310 Total deferred tax assets 8,043,721 Valuation allowance (794,744 ) Net deferred tax assets $ 7,248,977 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts for income tax purposes, as well as operating loss and tax credit carryforwards. The Company evaluates the realizability of its deferred tax assets and recognizes a valuation allowance if, based on the available evidence, both positive and negative, it is more likely than not that some portion or all of its deferred tax assets will not be realized. When evaluating the realizability of its deferred tax assets, the Company considers, among other matters, estimates of expected future taxable income, nature of current and cumulative losses and tax planning strategies available. Management has estimated future taxable gains and losses on sale of ZRV real estate assets to determine how much of the deferred tax assets are realizable. This realizability analysis is inherently subjective and actual results could differ from these estimates. Based on an assessment of all factors, it was determined that a valuation allowance of $795,000 December 31, 2016 $5,514,000 $251,000, December 31, 2016. $5,263,000 December 31, 2016; not 2036.

Note 12 - Transactions with Aff

Note 12 - Transactions with Affiliates	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 12 OFG is entitled to receive from the Company a management fee of up to 2.75% twelve 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 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% OFG, at its sole discretion may, may 1 /12 12 $3,286,000, $2,051,000 $1,727,000 December 31, 2016, 2015 2014, $299,000, $186,000 $157,000 December 31, 2016, 2015 2014, December 31, 2016 2015, $324,000 $267,000, During the years ended December 31, 2016, 2015 2014, Pursuant to the charter, OFG receives all late payment charges from borrowers on loans owned by the Company, with the exception of those loans participated with outside entities. The amounts paid to or collected by OFG for such charges on Company loans totaled approximately $83,000, $30,000 $14,000 December 31, 2016, 2015 2014, $20,000, $7,000 $4,000 December 31, 2016, 2015 2014, OFG originates all loans the Company invests in and receives loan origination fees from borrowers. Such fees earned by OFG amounted to approximately $2,514,000, $1,956,000 $1,228,000 $101,594,000, $80,448,000 $50,440,000 December 31, 2016, 2015 2014, 2.5%, 2.4% 2.4% December 31, 2016, 2014 2014, OFG is reimbursed by the Company for the actual cost of goods, services and materials used for or by the Company and obtained from unaffiliated entities 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). The amounts reimbursed to OFG by the Company were $440,000, $590,000 $704,000 December 31, 2016, 2015 2014, December 31, 2016 2015, $36,000 $142,000, $0, $1,000 $1,000 December 31, 2016, 2015 2014, The Company paid Investor’s Yield, Inc. (a wholly owned subsidiary of OFG) approximately $9,000, $10,000 $30,000 December 31, 2016, 2015 2014, During 2015, $1,499,000

Note 13 - Rental Income

Note 13 - Rental Income	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Leases of Lessor Disclosure [Text Block]	NOTE 13 The Company’s real estate properties held for sale and investment are leased to tenants one nine tenant five December 31, 2016, Year ending December 31: 2017 $ 2,085,821 2018 1,716,577 2019 1,227,678 2020 495,744 2021 342,473 Thereafter (through 2024) 944,538 Total $ 6,812,831

Note 14 - Fair Value

Note 14 - Fair Value	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 14 The Company measures its financial and nonfinancial assets and liabilities pursuant to ASC 820 Fair Value Measurements and Disclosures 820 Fair value is defined in ASC 820 820 three may Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 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 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 one 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 recurring and nonrecurring 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 an 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 310 10 35. third December 31, 2016 2015, third two. 820, 2. 3. 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 properties held for sale 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 third two) may 2 3 There were no no December 31, 2016 2015. The following table presents information about the Company’s assets measured at fair value on a nonrecurring basis as of December 31, 2016 2015: Fair Value Measurements Using Carrying Value Quoted Prices In Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 201 6 Nonrecurring: Impaired loans: Residential $ 4,413,000 $ — $ — $ 4,413,000 Total $ 4,413,000 $ — $ — $ 4,413,000 Real estate properties: Land $ 139,498 $ — $ — $ 139,498 Commercial 732,539 — — 732,539 Total $ 872,037 $ — $ — $ 872,037 201 5 Nonrecurring: Impaired loans: Commercial $ 659,041 $ — $ — $ 659,041 Total $ 659,041 $ — $ — $ 659,041 Real estate properties: Land $ 4,224,000 $ — $ — $ 4,224,000 Total $ 4,224,000 $ — $ — $ 4,224,000 The provision (reversal) of loan losses (net) based on the fair value of loan collateral less estimated selling costs for the impaired loans above totaled approximately $733,000 $(64,000) December 31, 2016 2015, $64,000 December 31, 2015, $1,840,000 December 31, 2014, no December 31, 2015 $2,134,000 $1,589,000 December 31, 2016 2015, December 31, 2016 $2,110,000 $24,000 During the years ended December 31, 2016 2015, 1 2. The following table presents quantitative information about Level 3 December 31, 2016 2015: December 31, 2016: Description Fair Value Valuation Technique Significant Unobservable Inputs Input / Range Weighted Average Impaired Loans: Residential $ 4,413,000 Comparable Sales Comparable Sales Adjustment (4.6)% to 4.2% N/A Real Estate Properties: Land $ 139,498 Appraisal Comparable Sales Adjustment (33.7)% N/A Commercial 732,539 Appraisal Comparable Sales Adjustment (5.0)% to 5.0% N/A Capitalization Rate 7.3% N/A December 31, 2015: Description Fair Value Valuation Technique Significant Unobservable Inputs Input / Range Weighted A verage Impaired Loans: Commercial $ 659,041 Appraisal Comparable Sales Adjustment (20)% to 30% N/A Capitalization Rate 7.0% N/A Real Estate Properties: Land $ 4,224,000 Appraisal Comparable Sales Adjustment (33.4)% 7.5 % Where only one one one The approximate carrying amounts and estimated fair values of financial instruments at December 31, 2016 2015 Fair Value Measurements at December 31 , 201 6 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 434,000 $ 434,000 $ — $ — $ 434,000 Restricted cash 6,500,000 6,500,000 — — 6,500,000 Loans, net 126,975,000 — — 126,652,000 126,652,000 Investment in limited liability company 2,140,000 — — 2,650,000 2,650,000 Accrued interest and advances receivable 1,328,000 — — 1,328,000 1,328,000 Financial liabilities Accrued interest payable $ 137,000 — 97,000 40,000 $ 137,000 Lines of credit payable 4,976,000 — 4,976,000 — 4,976,000 Notes payable 33,386,000 — 20,213,000 13,499,000 33,712,000 Fair Value Measurements at December 31 , 201 5 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 1,256,000 $ 1,256,000 $ — $ — $ 1,256,000 Restricted cash 7,225,000 7,225,000 — — 7,225,000 Loans, net 104,901,000 — — 104,895,000 104,895,000 Investment in limited liability company 2,141,000 — — 2,352,000 2,352,000 Accrued interest and advances receivable 1,105,000 — — 1,105,000 1,105,000 Financial liabilities Accrued interest payable $ 229,000 — 170,000 59,000 $ 229,000 Lines of credit payable 20,916,000 — 20,916,000 — 20,916,000 Notes payable 45,459,000 — 28,703,000 17,245,000 45,948,000 The following methods and assumptions were used by the Company in estimating the fair value of each class of financial instruments: Cash, cash e quivalents and r estricted c ash: 1. Loans , net : 3 3. Investment in limited liability company : 3 Lines of credit payable: 2 2. Notes and loans payable: 2 3 2 one 3 2 3.

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 15 - COMMITMENTS AND CONTINGENCIES Contractual Obligations The Company has entered into various contracts for design, architectural, engineering, foundation work and construction for the development of the land owned by ZRV. The aggregate amount of these contracts totaled approximately $33,809,000 $26,013,000 December 31, 2016 $3,801,000 $29,814,000). may The Company has entered into various contracts for design, architectural and engineering for the development of the land owned by ZRV II. The aggregate amount of these contracts totaled approximately $1,021,000 $845,000 December 31, 2016 $265,000 $1,110,000). may As of December 31, 2016, $31,490,000 $4,274,000 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.

Note 16 - Subsequent Events

Note 16 - Subsequent Events	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 16 – SUBSEQUENT EVENTS In January 2017, $139,000 no In February 2017, $732,000 no

Note 17 - Summary Quarterly Con

Note 17 - Summary Quarterly Consolidated Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Quarterly Financial Information [Text Block]	NOTE 17 ( UNAUDITED ) The following tables represent unaudited summarized quarterly financial data of the Company for the years ended December 31, 2016, 2015 2014 Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 Total revenues $ 3,667,283 $ 4,493,977 $ 4,692,114 4,225,617 Total expenses 3,942,004 5,587,213 6,999,063 4,316,678 Operating loss (274,721 ) (1,093,236 ) (2,306,949 ) (91,061 ) (Loss) gain on sale of real estate, net (536,419 ) 20,195,367 — 4,838,815 Net (loss) income before income taxes (811,140 ) 19,102,131 (2,306,949 ) 4,747,754 Income tax (expense) benefit (380,706 ) 260,848 7,368,835 — Net (loss) income (1,191,846 ) 19,362,979 5,061,886 4,747,754 Less: Net loss (income) attributable to non-controlling interests 15,960 (3,630,318 ) 56,847 (13,492 ) Net (loss) income attributable to common stockholders $ (1,175,886 ) $ 15,732,661 $ 5,118,733 $ 4,734,262 (Loss) earnings per common share (basic and diluted) $ (0.11 ) $ 1.54 $ 0.50 $ 0.46 Weighted average number of common shares outstanding (basic and diluted) 10,247,477 10,247,477 10,247,477 10,247,477 Dividends declared per share of Common Stock $ 0.08 $ 0.08 $ 0.08 $ 0.08 Three Months Ended December 31, 2015 September 30, 2015 June 30, 2015 March 31, 2015 Total revenues $ 4,432,455 $ 4,414,217 $ 5,987,048 6,409,831 Total expenses 2,817,184 3,998,225 4,463,246 5,453,674 Operating income 1,615,271 415,992 1,523,802 956,157 Gain on sale of real estate, net 6,787,254 — 14,825,858 205,441 Gain on foreclosure of loans — — — — Net income before income tax expense 8,402,525 415,992 16,349,660 1,161,598 Income tax expense 93,335 — — — Net income 8,309,190 415,992 16,349,660 1,161,598 Less: Net income attributable to non-controlling interests (36,891 ) (31,671 ) (2,588,884 ) (9,878 ) Net income attributable to common stockholders $ 8,272,299 $ 384,321 $ 13,760,776 $ 1,151,720 Earnings per common share (basic and diluted) $ 0.80 $ 0.04 $ 1.28 $ 0.11 Weighted average number of common shares outstanding (basic and diluted) 10,310,149 10,538,735 10,768,001 10,768,001 Dividends declared per share of Common Stock $ 0.08 $ 0.08 $ 0.18 $ 0.07 Three Months Ended December 31, 2014 September 30, 2014 June 30, 2014 March 31 , 2014 Total revenues $ 5,192,110 $ 4,705,357 $ 4,054,311 3,868,473 Total expenses 2,315,046 3,950,850 3,569,826 3,597,568 Operating income 2,877,064 754,507 484,485 270,905 Gain on sale of real estate, net 503,254 113,113 2,349,808 277,184 Gain on foreclosure of loans 207,734 — — 257,020 Net income 3,588,052 867,620 2,834,293 805,109 Less: Net income attributable to non-controlling interests (13,693 ) (83,797 ) (23,409 ) (44,546 ) Net income attributable to common stockholders $ 3,574,359 $ 783,823 $ 2,810,884 $ 760,563 Earnings per common share (basic and diluted) $ 0.33 $ 0.07 $ 0.26 $ 0.07 Weighted average number of common shares outstanding (basic and diluted) 10,768,001 10,768,001 10,768,001 10,769,498 Dividends declared per share of Common Stock $ 0.12 $ 0.05 $ 0.05 $ 0.05

Financial Statement Schedule II

Financial Statement Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Text Block]	OWENS REALTY MORTGAGE, INC. FINANCIAL STATEMENT SECHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2016 Description Encumbrances Initial Cost Capitalized Costs Sales Impairment Write-downs Accumulated Depreciation Carrying Value Date Acquired Depreciable Lives (years) Commercial and Residential Land under Development (TSV), South Lake Tahoe, California None $ 10,822,156 $ 18,152,652 $ — $ — $ — Note 4 $ 28,974,808 Various N/A Retail Complex (TSV), South Lake Tahoe, California $13,634,889 Note Payable 6,409,617 11,815,027 — — (1,394,649 ) Note 4 16,829,995 Various 5 - 3 Commercial Residential Land under Development (ZRV), South Lake Tahoe, California $20,213,560 Construction Loan Payable 5,016,443 29,788,810 — — — 34,805,253 Various N/A Residential Land under Development (ZRV II), South Lake Tahoe, California None 2,032,963 1,378,689 — — — 3,411,652 Various N/A Assisted Living Facility, Bensalem, Pennsylvania None 5,018,166 1,177,859 — — (375,316 ) 5,820,709 12/12/2014 5 - 27.5 Office Condominium Complex, Roseville, California None 8,569,286 321,923 (1,095,670 ) (3,712,707 ) (635,414 ) Note 5 3,447,418 9/26/2008 2 - 39 73 Residential Lots, Auburn, California None 13,746,625 36,745 (96,677 ) (9,904,826 ) — Note 6 3,781,867 9/27/2007 N/A 12 Condominium & 3 Commercial Units, Tacoma, Washington None 2,486,400 84,909 — — (259,517 ) 2,311,792 7/8/2011 27.5 - 39 Marina & Boat Club with 179 Boat Slips, Isleton, California None 2,002,525 698,218 — — (145,437 ) 2,555,306 1/29/2013 5 - 15 Undeveloped, Industrial Land, San Jose, California None 3,025,992 69,181 — (1,067,592 ) — Note 7 2,027,581 12/27/2002 N/A Golf Course, Auburn, California None 1,796,254 174,184 — — Note 8 1,970,438 6/20/2009 N/A Unimproved residential and commercial land, Bethel Island, California None 2,336,640 675 (1,867 ) — — 2,335,448 3/11/2014 N/A Miscellaneous Real Estate None (341,094 ) 4,851,131 Various Various TOTALS $ (3,151,427 ) $ 113,123,398 NOTE 1: 2012 2014 one 2015. NOTE 2: Balance at beginning of period (1/1/14) $ 135,315,964 Additions during period: Acquisitions through foreclosure 9,572,406 Investments in real estate properties 21,866,298 Amortization of deferred financing costs capitalized to construction project 120,952 Subtotal 166,875,620 Deductions during period: Cost of real estate properties sold 1,529,227 Impairment losses on real estate properties 179,040 Depreciation of properties held for investment 2,150,548 Balance at end of period (12/31/14) $ 163,016,805 Balance at beginning of period (1/1/15) $ 163,016,805 Additions during period: Acquisitions through foreclosure — Investments in real estate properties 25,274,125 Amortization of deferred financing costs capitalized to construction project 207,347 Subtotal 188,498,277 Deductions during period: Cost of real estate properties sold 31,099,086 Impairment losses on real estate properties 1,589,434 Depreciation of properties held for investment 1,971,345 Balance at end of period (12/31/15) $ 153,838,412 Balance at beginning of period (1/1/16) 153,838,412 Additions during period: Acquisitions through foreclosure 700,800 Investments in real estate properties 29,061,735 Amortization of deferred financing costs capitalized to construction project 119,471 Subtotal 183,720,418 Deductions during period: Cost of real estate properties sold 66,183,589 Impairment losses on real estate properties 3,227,807 Depreciation of properties held for investment 1,185,624 Balance at end of period (12/31/16) $ 113,123,398 NOTE 3: Balance at beginning of period (1/1/14) $ 9,599,719 Additions during period: Depreciation expense 2,150,548 Subtotal 11,750,267 Deductions during period: Accumulated depreciation on real estate moved to held for sale 5,674,980 Balance at end of period (12/31/14) $ 6,075,287 Balance at beginning of period (1/1/15) $ 6,075,287 Additions during period: Depreciation expense 1,971,345 Subtotal 8,046,632 Deductions during period: Accumulated depreciation on real estate moved to held for sale 5,131,036 Balance at end of period (12/31/15) $ 2,915,596 Balance at beginning of period (1/1/16) 2,915,596 Additions during period: Depreciation expense 1,185,624 Subtotal 4,101,220 Deductions during period: Accumulated depreciation on real estate moved to held for sale 949,793 Balance at end of period (12/31/16) $ 3,151,427 NOTE 4: December 31, 2016 $6,066,000 NOTE 5: $3,712,707 2010 2011 third NOTE 6: $9,904,826 2009 2012 third NOTE 7: $1,067,592 2010 2012 third NOTE 8: 2016 $267,716 NOTE 9: $148,877,000.

Financial Statement Schedule IV

Financial Statement Schedule IV - Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
SEC Schedule IV Mortgage Loans On Real Estate Disclosure [Text Block]	OWENS REALTY MORTGAGE, INC. FINANCIAL STATEMENT SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE DECEMBER 31, 2016 Description Interest Rate Final Maturity date Carrying Amount of Mortgages Principal Amount of Loans Subject to Delinquent Principal Principal Amount of Loans Subject to Delinquent Payments TYPE OF PROPERTY Commercial 6.99 - 10.00% Current to December 2019 $ 102,442,111 $ 3,675,000 $ — Residential 7.50 - 11.00% Current to March 2028 19,001,677 9,666,827 4,883,866 Land 4.00 - 9.00% April 2017 to January 2019 8,238,523 — — TOTAL $ 129,682,311 $ 13,341,827 $ 4,883,866 AMOUNT OF LOAN $0-500,000 7.50 - 8.50% Current to March 2028 $ 1,944,637 $ 691,035 $ 228,349 $500,001-1,000,000 7.50 - 8.50% January 2017 to December 2017 3,671,909 — — $1,000,001-5,000,000 4.00 - 11.00% Current to December 2019 81,894,561 12,650,792 4,655,517 Over $5,000,000 6.99 - 7.75% December 2017 to July 2019 42,171,204 — — TOTAL $ 129,682,311 $ 13,341,827 $ 4,883,866 POSITION OF LOAN First 4.00 - 11.00% Current to March 2028 $ 126,873,673 $ 12,850,792 $ 4,883,866 Second 7.75 - 8.25% Current to July 2017 2,808,638 491,035 — TOTAL $ 129,682,311 $ 13,341,827 $ 4,883,866 NOTE 1: NOTE 2: Balance at beginning of period (1/1/14) $ 58,796,293 Additions during period: New loans 44,505,577 Advances moved to principal of loans 122,004 Subtotal 103,423,874 Deductions during period: Collection of principal 27,718,917 Foreclosures 7,671,446 Balance at end of period (12/31/14) $ 68,033,511 Balance at beginning of period (1/1/15) $ 68,033,511 Additions during period: New loans, including from sale of real estate property 73,389,645 Discount accretion 536,816 Subtotal 141,959,972 Deductions during period: Collection of principal 35,216,165 Foreclosures — Balance at end of period (12/31/15) $ 106,743,807 Balance at beginning of period (1/1/16) $ 106,743,807 Additions during period: New loans, including from sale of real estate property 79,867,140 Subtotal 186,610,947 Deductions during period: Collection of principal 55,849,884 Foreclosures 1,078,752 Balance at end of period (12/31/16) $ 129,682,311 NOTE 3: 3% December 31, 2016: Description Interest Rate Final Maturity Date Periodic Payment Terms Prior Liens Face Amount of Mortgages Carrying Amount of Mortgages Principal Amount of Loans Subject to Delinquent Principal or Interest Shopping Center Ontario, California 6.99 % 1/1/18 Interest only, balance due at maturity 0 10,000,000 8,400,000 0 Hotel Novi, Michigan 7.75 % 12/31/17 Interest only, balance due at maturity 0 8,835,000 7,917,143 0 Office Building Dublin, California 7.50 % 7/1/19 Interest only, balance due at maturity 0 7,000,000 7,000,000 0 Office Building Escondido, California 7.75 % 11/15/18 Interest only, balance due at maturity 0 6,674,400 6,574,400 0 Apartment Building Oxnard, California 7.25 % 4/1/18 Interest only, balance due at maturity 0 14,900,000 6,252,037 0 Storage Facility Benbrook, Texas 7.75 % 5/15/18 Interest only, balance due at maturity 0 6,625,000 6,027,624 0 Office Building Redwood City, California 8.00 % 11/15/17 Interest only, balance due at maturity 0 4,860,000 4,860,000 0 Retail Building Antioch, California 8.00 % 10/15/18 Interest only, balance due at maturity 0 7,000,000 4,724,635 0 Condominiums Phoenix, Arizona 11.00 % 7/1/09 Interest only, Balance due at maturity 0 7,535,000 4,655,517 4,655,517 Unimproved Land Fairfield, California 9.00 % 4/15/17 Interest only, Balance due at maturity 0 4,500,000 4,500,000 0 Office Building San Francisco, California 7.75 % 11/1/17 Interest only, Balance due at maturity 0 4,250,000 4,250,000 0 Office Building Chula Vista, California 7.50 % 11/1/18 Interest only, Balance due at maturity 0 5,600,000 4,049,498 0 TOTALS $ 0 $ 87,779,400 $ 69,210,854 $ 4,655,517 NOTE 4: $129,682,000 December 31, 2016.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The consolidated financial statements include the accounts of the Company and its majority and wholly owned limited liability companies. All significant inter-company transactions and balances have been eliminated in consolidation. The Company also has a 50% 4). one Certain reclassifications have been made to the 2014 2015 2016
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 November 2016, 2016 18, 230) 2016 18. 2016 18 December 15, 2017, 2016 18 In August 2016, 2016 15, 230) 2016 15. 2016 15 eight December 15, 2017, 2016 15 In June 2016, 2016 13, 326) 2016 13. 2016 13 2016 13 December 15, 2019, December 15, 2018. 2016 13 may In March 2016, 2016 07, 323) 2016 07. 2016 07 323 December 15, 2016, 2016 07 In February 2016, 2016 02, 842)” 2016 02. 2016 02 December 15, 2018, 2016 02 In January 2016, 2016 01, 825 10) 2016 1. 2016 01 December 15, 2017, 2016 01 In May 2014, 2014 09, 606),” 2014 09. 2014 09 2014 09’s one 2015 14, first December 15, 2017, Recently Adopted Accounting Pronouncements In April 2015, 2015 03, 835 30) 2015 03. 2015 03 August 2015, 2015 15 2016 2015 15. $463,000 $658,000 December 31, 2016 2015, In August 2014, 2014 15, 205 40): 2014 15. 2014 15 2014 15 December 15, 2016. 2014 15
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents include funds on deposit with financial institutions.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash includes contingency reserves required pursuant to the Company’s charter, non-interest bearing deposits required pursuant to the Company’s lines of credit (see Note 7) 10).
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and loans. The Company places its cash and cash equivalents with financial institutions and, at times, cash held may
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Loans and Allowance for Loan Losses Loans are generally stated at the principal amount outstanding. Advances under the terms of a loan to pay property taxes, insurance, legal and other costs are generally capitalized and reported as interest and other receivables. The Company’s portfolio consists primarily of real estate loans generally collateralized by first, second third ninety 12). Loans and the related accrued interest and advances are analyzed by management on a periodic basis for ultimate recovery. The allowance for loan losses is management’s estimate of probable credit losses inherent in the Company’s loan portfolio that have been incurred as of the balance sheet date. The allowance is established through a provision for loan losses which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan growth. Credit exposures determined to be uncollectible are charged against the allowance. Cash received on previously charged off amounts is recorded as a recovery to the allowance. The overall allowance consists of two Regardless of the loan type, a loan is considered impaired when, based on current information and events, management believes it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. All loans determined to be impaired are individually evaluated for impairment. When a loan is considered impaired, management estimates impairment based on the present value of expected future cash flows discounted at the loan's effective interest rate, except that as a practical expedient, management may fourth may A restructuring of a debt constitutes a troubled debt restructuring (“TDR”) if the Company for economic or legal reasons related to the debtor's financial difficulties grants a concession to the debtor that it would not otherwise consider. Restructured loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans that are reported as TDR’s are considered impaired and measured for impairment as described above. The determination of the general reserve for loans that are not considered impaired and are collectively evaluated for impairment is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment, internal asset classifications, and qualitative factors to include economic trends in the Company’s service areas, industry experience and trends, geographic concentrations, estimated collateral values, the Company’s underwriting policies, the character of the loan portfolio, and probable incurred losses inherent in the portfolio taken as a whole. The Company maintains a separate allowance for each portfolio segment (loan type). These portfolio segments include commercial real estate, residential real estate and land loans. The allowance for loan losses attributable to each portfolio segment, which includes both impaired loans that are individually evaluated for impairment and loans that are not considered impaired and are collectively evaluated for impairment, is combined to determine the Company’s overall allowance, which is included on the consolidated balance sheet. The allowance for loans that are not considered impaired consists of reserve factors that are based on management’s assessment of the following for each portfolio segment: (1) (2) (3) Land Loans Commercial and Residential Real Estate Loans may Management monitors the credit quality of the Company’s loan portfolio on an ongoing basis using certain credit quality indicators including a loan’s delinquency status and internal asset classification. A loan is considered classified when it meets the definition of impaired as described above.
Other Assets [Policy Text Block]	Other Assets Other assets primarily include deferred rent, capitalized lease commissions, prepaid expenses, deposits and inventory. Amortization of lease commissions is provided on the straight-line method over the lives of the related leases.
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Costs Issuance and other costs related to the Company’s lines of credit and certain notes payable are capitalized and amortized to interest expense under either the straight-line or effective interest methods over the terms of the respective debt instruments. Deferred financing costs related to the construction loans in Zalanta Resort at the Village, LLC and TOTB North, LLC have been amortized to the construction projects under the straight-line method over the term of construction/renovation.
Revenue Recognition, Policy [Policy Text Block]	Rental Income The Company leases multifamily rental units under operating leases with terms of generally one
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Real Estate Held for Sale Real estate held for sale includes real estate acquired in full or partial settlement of loan obligations, generally through foreclosure, that is being marketed for sale. Real estate held for sale is recorded at acquisition at the property’s estimated fair value less estimated costs to sell. Any excess of the recorded investment in the loan over the net realizable value is charged against the allowance for loan losses. Any excess of the net realizable value over the recorded investment in the loan is credited first After acquisition, costs incurred relating to the development and improvement of property are capitalized to the extent they do not cause the recorded value to exceed the net realizable value, whereas costs relating to holding and disposition of the property are expensed as incurred. After acquisition, real estate held for sale is analyzed periodically for changes in fair values and any subsequent write down is charged to impairment losses on real estate properties. Any recovery in the fair value subsequent to such a write down is recorded (not to exceed the net realizable value at acquisition) as an offset to impairment losses on real estate properties. Gains on the sale of real estate are recorded using the full accrual method whereby the amount by which the net sale proceeds exceeds the property’s carrying amount is recorded as gain in full on the date of sale if the following criteria are met: ● The gain is determinable, that is, the collectability of the sales price is reasonably assured or the amount that will not be collectible can be estimated. ● The earnings process is virtually complete, that is, the Company is not obliged to perform significant activities after the sale in order to earn the gain. Sales of real estate properties that do not meet the criteria for the full accrual method are accounted for as follows: ● Deposit method – If it is determined a sale has not consummated, the Company does not derecognize its recorded investment in the property and the transaction is accounted for under the deposit method whereby any initial investment from the buyer is accounted for as a deposit liability. ● Cost recovery method – If recovery of the cost of the property is not reasonably assured if the buyer defaults or if cost has already been recovered and collection of additional amounts is uncertain, the cost recovery method is used whereby no gain is recognized until cash payments from the buyer exceed the Company's recorded investment in the property sold. ● Installment method – If the buyer's initial investment is inadequate, as measured by its composition and its size compared with the sales value of the property, and if recovery of the carrying amount of the property is reasonably assured if the buyer defaults, the transaction is accounted for under the installment method whereby each cash receipt and principal payment by the buyer on debt assumed is allocated between cost recovered and gain. This allocation is in the same ratio as total cost and total gain bear to the sales value. ● Reduced profit method – If the buyer’s initial investment is adequate but the buyer’s continuing investment is inadequate, as measured by the annual payments required by the buyer compared to a 20 first (20 first first may
Real Estate, Policy [Policy Text Block]	Real Estate Held for Investment Real estate held for investment includes real estate acquired in full or partial settlement of loan obligations, generally through foreclosure, that is not being marketed for sale and is either being operated, such as rental properties; is being managed through the development process, including obtaining appropriate and necessary entitlements, permits and construction; or are idle properties awaiting more favorable market conditions or properties the Company cannot sell without placing the Company’s REIT status at risk or becoming subject to prohibited transactions penalty tax. Real estate held for investment is recorded at acquisition at the property’s estimated fair value, less estimated costs to sell. After acquisition, costs incurred relating to the development and improvement of the property are capitalized, whereas costs relating to operating or holding the property are expensed. Subsequent to acquisition, management periodically compares the carrying value of real estate to expected undiscounted future cash flows 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 estimated fair value through an impairment loss charged to earnings. Subsequent increases in the fair value of such properties are not recorded unless they are realized. Depreciation of real estate properties held for investment is provided on the straight-line method over the estimated remaining useful lives of buildings and improvements (5 39 tenant The Company reclassifies real estate properties from held for investment to held for sale in the period in which all of the following criteria are met: 1) 2) 3) 4) one 5) If circumstances arise that previously were considered unlikely, and, as a result, the Company decides not to sell a real estate property classified as held for sale, the property is reclassified to held for investment. The property is then measured individually at the lower of its carrying amount, adjusted for depreciation or amortization expense that would have been recognized had the property been continuously classified as held for investment, or its fair value at the date of the subsequent decision not to sell.
Earnings Per Share, Policy [Policy Text Block]	Earnings per Common Share The Company calculates basic earnings per common share by dividing net income attributable to common stockholders for the period by the weighted-average shares of Common Stock outstanding for that period. Diluted earnings per common share takes into effect any dilutive instruments, unless if when doing so such effect would be anti-dilutive. At the present time, the Company has not no
Income Tax, Policy [Policy Text Block]	Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities, if any. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount that is “more likely than not” to be realized. The Company has elected to be taxed as a REIT. As a result of the Company’s REIT qualification and its distribution policy, the Company does not generally expect to pay U.S. federal corporate level income taxes. Many of the REIT requirements, however, are highly technical and complex. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that the Company distribute annually at least 90% may four may The Company has elected or may TRS” ). In general, a TRS of a REIT may may Gains on sales of certain properties may 1221(a)(1), The accounting guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. A tax position is recognized as a benefit only if it is “more likely than not” that the position would be sustained in a tax examination, with a tax examination being presumed to occur. The Company has analyzed its various federal and state filing positions and believes that its income tax filing positions and deductions are well documented and supported. There was no December 31, 2016 2015. Certain entities included in the Company’s consolidated financial statements are subject to certain state and local taxes. These taxes are recorded as general and administrative expenses in the accompanying consolidated financial statements.

Note 3 - Loans and Allowance 27

Note 3 - Loans and Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	201 6 Commercial Residential Land Total Allowance for loan losses: Beginning balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Charge-offs (447,520 ) — — (447,520 ) Recoveries 27,000 — — 27,000 Provision 144,961 875,731 264,204 1,284,896 Ending balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Ending balance: individually evaluated for impairment $ — $ 732,712 $ — $ 732,712 Ending balance: collectively evaluated for impairment $ 864,971 $ 598,606 $ 510,533 $ 1,974,110 Ending balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Loans: Ending balance $ 102,442,111 $ 19,001,677 $ 8,238,523 $ 129,682,311 Ending balance: individually evaluated for impairment $ — $ 4,883,866 $ — $ 4,883,866 Ending balance: collectively evaluated for impairment $ 102,442,111 $ 14,117,811 $ 8,238,523 $ 124,798,445 201 5 Commercial Residential Land Total Allowance for loan losses: Beginning balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355 Charge-offs — — — — Provision (Reversal) 252,270 (1,519,525 ) 240,346 (1,026,909 ) Ending balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Ending balance: individually evaluated for impairment $ 485,823 $ — $ — $ 485,823 Ending balance: collectively evaluated for impairment $ 654,707 $ 455,587 $ 246,329 $ 1,356,623 Ending balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Loans: Ending balance $ 76,800,297 $ 24,675,867 $ 5,267,643 $ 106,743,807 Ending balance: individually evaluated for impairment $ 1,078,752 $ 7,615,055 $ — $ 8,693,807 Ending balance: collectively evaluated for impairment $ 75,721,545 $ 17,060,812 $ 5,267,643 $ 98,050,000 201 4 Commercial Residential Land Total Allowance for loan losses: Beginning balance $ 932,651 $ 3,798,203 $ 8,234 $ 4,739,088 Charge-offs — — — — (Reversal) (44,391 ) (1,823,091 ) (2,251 ) (1,869,733 ) Ending balance $ 888,260 $ 1,975,112 $ 5,983 $ 2,869,355
Past Due Financing Receivables [Table Text Block]	December 31, 2016 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 $ — $ — $ — $ — $ 102,442,111 $ 102,442,111 Residential 1,983,247 — 4,883,866 6,867,113 12,134,564 19,001,677 Land 1,080,000 — — 1,080,000 7,158,523 8,238,523 $ 3,063,247 $ — $ 4,883,863 $ 7,947,113 $ 121,735,198 $ 129,682,311 December 31, 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 $ — $ — $ 1,078,752 $ 1,078,752 $ 75,721,545 $ 76,800,297 Residential — — 7,615,055 7,615,055 17,060,812 24,675,867 Land — — — — 5,267,643 5,267,643 $ — $ — $ 8,693,807 $ 8,693,807 $ 98,050,000 $ 106,743,807
Impaired Financing Receivables [Table Text Block]	As of December 31, 201 6 Year Ended December 31, 201 6 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 1,684,877 $ 38,187 Residential 228,349 228,349 — 236,042 20,598 Land — — — — — $ 228,349 $ 228,349 $ 1,920,919 $ 58,785 With an allowance recorded: Commercial $ — $ — $ — $ 865,285 $ — Residential 5,145,712 4,655,517 732,712 6,209,540 — Land — — — — — $ 5,145,712 4,655,517 $ 732,712 $ 7,074,825 $ — Total: Commercial $ — $ — $ — $ 2,550,162 $ 38,187 Residential 5,374,061 4,883,866 732,712 6,445,582 20,598 Land — — — — — $ 5,374,061 $ 4,883,866 $ 732,712 $ 8,995,744 $ 58,785 As of December 31, 201 5 Year Ended December 31, 201 5 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 2,300,846 $ 639,935 Residential 8,063,450 7,615,055 — 8,217,114 192,491 Land — — — 310,011 216,904 $ 8,063,450 $ 7,615,055 $ 10,827,971 $ 1,049,330 With an allowance recorded: Commercial $ 1,144,864 $ 1,078,752 $ 485,823 $ 1,119,594 $ 49,442 Residential — — — — — Land — — — — — $ 1,144,864 1,078,752 $ 485,823 $ 1,119,594 $ 49,442 Total: Commercial $ 1,144,864 $ 1,078,752 $ 485,823 $ 3,420,440 $ 689,377 Residential 8,063,450 7,615,055 — 8,217,114 192,491 Land — — — 310,011 216,904 $ 9,208,314 $ 8,693,807 $ 485,823 $ 11,947,565 $ 1,098,772 Year Ended December 31, 201 4 Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 16,686,997 $ 1,714,230 Residential 1,986,693 688,196 Land 2,440,015 173,484 $ 21,113,705 $ 2,575,910 With an allowance recorded: Commercial $ 1,079,681 $ 47,958 Residential 7,983,366 150,000 Land — — $ 9,063,047 $ 197,958 Total: Commercial $ 17,766,678 $ 1,762,188 Residential 9,970,059 838,196 Land 2,440,015 173,484 $ 30,176,752 $ 2,773,868
Troubled Debt Restructurings on Financing Receivables [Table Text Block]	Modifications During the Year Ended December 31, 2014 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings That Occurred During the Year Land 1 $ 1,860,068 $ 1,860,068

Note 5 - Real Estate Held for28

Note 5 - Real Estate Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Properties Acquired Through Foreclosure [Table Text Block]	December 31, 2016 December 31, 2015 Land (including land under development) $ 73,140,659 $ 42,071,143 Residential — 51,942,601 Office 732,539 4,716,487 Industrial — 1,460,935 Golf course 1,970,437 — $ 75,843,635 $ 100,191,166

Note 6 - Real Estate Held for29

Note 6 - Real Estate Held for Investment (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Description Encumbrances Initial Cost Capitalized Costs Sales Impairment Write-downs Accumulated Depreciation Carrying Value Date Acquired Depreciable Lives (years) Commercial and Residential Land under Development (TSV), South Lake Tahoe, California None $ 10,822,156 $ 18,152,652 $ — $ — $ — Note 4 $ 28,974,808 Various N/A Retail Complex (TSV), South Lake Tahoe, California $13,634,889 Note Payable 6,409,617 11,815,027 — — (1,394,649 ) Note 4 16,829,995 Various 5 - 3 Commercial Residential Land under Development (ZRV), South Lake Tahoe, California $20,213,560 Construction Loan Payable 5,016,443 29,788,810 — — — 34,805,253 Various N/A Residential Land under Development (ZRV II), South Lake Tahoe, California None 2,032,963 1,378,689 — — — 3,411,652 Various N/A Assisted Living Facility, Bensalem, Pennsylvania None 5,018,166 1,177,859 — — (375,316 ) 5,820,709 12/12/2014 5 - 27.5 Office Condominium Complex, Roseville, California None 8,569,286 321,923 (1,095,670 ) (3,712,707 ) (635,414 ) Note 5 3,447,418 9/26/2008 2 - 39 73 Residential Lots, Auburn, California None 13,746,625 36,745 (96,677 ) (9,904,826 ) — Note 6 3,781,867 9/27/2007 N/A 12 Condominium & 3 Commercial Units, Tacoma, Washington None 2,486,400 84,909 — — (259,517 ) 2,311,792 7/8/2011 27.5 - 39 Marina & Boat Club with 179 Boat Slips, Isleton, California None 2,002,525 698,218 — — (145,437 ) 2,555,306 1/29/2013 5 - 15 Undeveloped, Industrial Land, San Jose, California None 3,025,992 69,181 — (1,067,592 ) — Note 7 2,027,581 12/27/2002 N/A Golf Course, Auburn, California None 1,796,254 174,184 — — Note 8 1,970,438 6/20/2009 N/A Unimproved residential and commercial land, Bethel Island, California None 2,336,640 675 (1,867 ) — — 2,335,448 3/11/2014 N/A Miscellaneous Real Estate None (341,094 ) 4,851,131 Various Various TOTALS $ (3,151,427 ) $ 113,123,398
By Property [Member]
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	December 31, 2016 December 31, 2015 Retail $ 16,829,995 $ 23,122,714 Land 4,234,806 8,112,676 Residential 2,405,439 6,673,540 Assisted care 5,820,709 5,402,376 Office 3,962,869 4,315,608 Marina 4,025,945 4,079,087 Golf course — 1,941,245 $ 37,279,763 $ 53,647,246 December 31, 2016 December 31, 2015 Land and land improvements $ 11,520,339 $ 23,443,676 Buildings and improvements 28,910,851 33,119,166 40,431,190 56,562,842 Less: Accumulated depreciation and amortization (3,151,427 ) (2,915,596 ) $ 37,279,763 $ 53,647,246

Note 7 - Lines of Credit Paya30

Note 7 - Lines of Credit Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Line of Credit Facilities [Table Text Block]	December 31, 2016 December 31, 2015 Outstanding Balance Total Commitment Outstanding Balance Total Commitment CB&T Line of Credit $ 4,976,000 $ 22,625,000 $ 8,289,500 $ 22,574,753 Opus Bank Line of Credit — — 12,626,000 12,626,000 Total $ 4,976,000 $ 22,625,000 $ 20,915,500 $ 35,200,753
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]	Loans: December 31 , 201 6 Commercial $ 29,555,335 Residential 4,040,049 Total $ 33,595,384

Note 8 - Notes and Loans Paya31

Note 8 - Notes and Loans Payable on Real Estate (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2016 Interest Rate December 31, 2015 Interest Rate Payment Terms/ Frequency Maturity Date Tahoe Stateline Venture, LLC Note #1 $ — — % $ 2,900,000 5.00 % Interest Only Semi-annual December 2016 Tahoe Stateline Venture, LLC Note #2 — — % 500,000 5.00 % Interest Only Quarterly August 2017 TOTB North, LLC Construction Loan Payable — — % 16,009,906 4.61 % Amortizing Monthly June 2017 TOTB Miami, LLC Loan Payable — — % 12,693,231 4.61 % Amortizing Monthly November 2017 Tahoe Stateline Venture, LLC Loan Payable 13,634,889 3.47 % 14,013,901 3.47 % Amortizing Monthly January 2021 Zalanta Construction Loan Payable 20,213,560 5.25 % — — % Interest Only Monthly August 2018 Principal amount $ 33,848,449 $ 46,117,038 Less unamortized deferred financing costs (462,515 ) (658,194 ) Notes and loans payable, net $ 33,385,934 $ 45,458,844
Schedule of Maturities of Long-term Debt [Table Text Block]	Years ending December 31: 2017 $ 20,605,935 2018 406,209 2019 420,531 2020 435,358 2021 11,980,416 Thereafter — $ 33,848,449

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Dividends Declared [Table Text Block]	Dividend s Classified as Capital Gain Dividends Classified as Return of Capital Year Total (4) Dividend s Percent Dividend s Qualified 5 ) Percent Dividend Percent Dividend s Common Stock: 2016 (1) $ 3,279,193 $ 0.320 15.05 % $ 0.048 — 84.95 % $ 0.272 — % $ 0.000 2015 (2) $ 4,347,331 $ 0.410 100.00 % $ 0.410 — — % $ — — % $ 0.000 2014 (3) $ 3,087,360 $ 0.287 100.00 % $ 0.255 — — % $ — — % $ 0.000

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2016 Federal State and Local Total Deferred benefit $ 5,861,030 $ 1,387,947 $ 7,248,977 Income tax benefit $ 5,861,030 $ 1,387,947 $ 7,248,977
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31 , 2016 Tax benefit (expense) at Federal statutory rate $ 423,847 State income tax benefit (expense), net of federal effect 916,045 Real estate basis differences at TRS conversion 6,753,272 Other (49,443 ) Change in valuation allowance (794,744 ) Income tax benefit $ 7,248,977
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred tax assets (liabilities): December 31 , 2016 Real estate basis differences $ 6,154,411 Net operating losses 1,889,310 Total deferred tax assets 8,043,721 Valuation allowance (794,744 ) Net deferred tax assets $ 7,248,977

Note 13 - Rental Income (Tables

Note 13 - Rental Income (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year ending December 31: 2017 $ 2,085,821 2018 1,716,577 2019 1,227,678 2020 495,744 2021 342,473 Thereafter (through 2024) 944,538 Total $ 6,812,831

Note 14 - Fair Value (Tables)

Note 14 - Fair Value (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Fair Value Measurements, Nonrecurring [Table Text Block]	Fair Value Measurements Using Carrying Value Quoted Prices In Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs 201 6 Nonrecurring: Impaired loans: Residential $ 4,413,000 $ — $ — $ 4,413,000 Total $ 4,413,000 $ — $ — $ 4,413,000 Real estate properties: Land $ 139,498 $ — $ — $ 139,498 Commercial 732,539 — — 732,539 Total $ 872,037 $ — $ — $ 872,037 201 5 Nonrecurring: Impaired loans: Commercial $ 659,041 $ — $ — $ 659,041 Total $ 659,041 $ — $ — $ 659,041 Real estate properties: Land $ 4,224,000 $ — $ — $ 4,224,000 Total $ 4,224,000 $ — $ — $ 4,224,000
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]	Description Fair Value Valuation Technique Significant Unobservable Inputs Input / Range Weighted Average Impaired Loans: Residential $ 4,413,000 Comparable Sales Comparable Sales Adjustment (4.6)% to 4.2% N/A Real Estate Properties: Land $ 139,498 Appraisal Comparable Sales Adjustment (33.7)% N/A Commercial 732,539 Appraisal Comparable Sales Adjustment (5.0)% to 5.0% N/A Capitalization Rate 7.3% N/A Description Fair Value Valuation Technique Significant Unobservable Inputs Input / Range Weighted A verage Impaired Loans: Commercial $ 659,041 Appraisal Comparable Sales Adjustment (20)% to 30% N/A Capitalization Rate 7.0% N/A Real Estate Properties: Land $ 4,224,000 Appraisal Comparable Sales Adjustment (33.4)% 7.5 %
Fair Value, by Balance Sheet Grouping [Table Text Block]	Fair Value Measurements at December 31 , 201 6 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 434,000 $ 434,000 $ — $ — $ 434,000 Restricted cash 6,500,000 6,500,000 — — 6,500,000 Loans, net 126,975,000 — — 126,652,000 126,652,000 Investment in limited liability company 2,140,000 — — 2,650,000 2,650,000 Accrued interest and advances receivable 1,328,000 — — 1,328,000 1,328,000 Financial liabilities Accrued interest payable $ 137,000 — 97,000 40,000 $ 137,000 Lines of credit payable 4,976,000 — 4,976,000 — 4,976,000 Notes payable 33,386,000 — 20,213,000 13,499,000 33,712,000 Fair Value Measurements at December 31 , 201 5 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 1,256,000 $ 1,256,000 $ — $ — $ 1,256,000 Restricted cash 7,225,000 7,225,000 — — 7,225,000 Loans, net 104,901,000 — — 104,895,000 104,895,000 Investment in limited liability company 2,141,000 — — 2,352,000 2,352,000 Accrued interest and advances receivable 1,105,000 — — 1,105,000 1,105,000 Financial liabilities Accrued interest payable $ 229,000 — 170,000 59,000 $ 229,000 Lines of credit payable 20,916,000 — 20,916,000 — 20,916,000 Notes payable 45,459,000 — 28,703,000 17,245,000 45,948,000

Note 17 - Summary Quarterly C36

Note 17 - Summary Quarterly Consolidated Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Quarterly Financial Information [Table Text Block]	Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 Total revenues $ 3,667,283 $ 4,493,977 $ 4,692,114 4,225,617 Total expenses 3,942,004 5,587,213 6,999,063 4,316,678 Operating loss (274,721 ) (1,093,236 ) (2,306,949 ) (91,061 ) (Loss) gain on sale of real estate, net (536,419 ) 20,195,367 — 4,838,815 Net (loss) income before income taxes (811,140 ) 19,102,131 (2,306,949 ) 4,747,754 Income tax (expense) benefit (380,706 ) 260,848 7,368,835 — Net (loss) income (1,191,846 ) 19,362,979 5,061,886 4,747,754 Less: Net loss (income) attributable to non-controlling interests 15,960 (3,630,318 ) 56,847 (13,492 ) Net (loss) income attributable to common stockholders $ (1,175,886 ) $ 15,732,661 $ 5,118,733 $ 4,734,262 (Loss) earnings per common share (basic and diluted) $ (0.11 ) $ 1.54 $ 0.50 $ 0.46 Weighted average number of common shares outstanding (basic and diluted) 10,247,477 10,247,477 10,247,477 10,247,477 Dividends declared per share of Common Stock $ 0.08 $ 0.08 $ 0.08 $ 0.08 Three Months Ended December 31, 2015 September 30, 2015 June 30, 2015 March 31, 2015 Total revenues $ 4,432,455 $ 4,414,217 $ 5,987,048 6,409,831 Total expenses 2,817,184 3,998,225 4,463,246 5,453,674 Operating income 1,615,271 415,992 1,523,802 956,157 Gain on sale of real estate, net 6,787,254 — 14,825,858 205,441 Gain on foreclosure of loans — — — — Net income before income tax expense 8,402,525 415,992 16,349,660 1,161,598 Income tax expense 93,335 — — — Net income 8,309,190 415,992 16,349,660 1,161,598 Less: Net income attributable to non-controlling interests (36,891 ) (31,671 ) (2,588,884 ) (9,878 ) Net income attributable to common stockholders $ 8,272,299 $ 384,321 $ 13,760,776 $ 1,151,720 Earnings per common share (basic and diluted) $ 0.80 $ 0.04 $ 1.28 $ 0.11 Weighted average number of common shares outstanding (basic and diluted) 10,310,149 10,538,735 10,768,001 10,768,001 Dividends declared per share of Common Stock $ 0.08 $ 0.08 $ 0.18 $ 0.07 Three Months Ended December 31, 2014 September 30, 2014 June 30, 2014 March 31 , 2014 Total revenues $ 5,192,110 $ 4,705,357 $ 4,054,311 3,868,473 Total expenses 2,315,046 3,950,850 3,569,826 3,597,568 Operating income 2,877,064 754,507 484,485 270,905 Gain on sale of real estate, net 503,254 113,113 2,349,808 277,184 Gain on foreclosure of loans 207,734 — — 257,020 Net income 3,588,052 867,620 2,834,293 805,109 Less: Net income attributable to non-controlling interests (13,693 ) (83,797 ) (23,409 ) (44,546 ) Net income attributable to common stockholders $ 3,574,359 $ 783,823 $ 2,810,884 $ 760,563 Earnings per common share (basic and diluted) $ 0.33 $ 0.07 $ 0.26 $ 0.07 Weighted average number of common shares outstanding (basic and diluted) 10,768,001 10,768,001 10,768,001 10,769,498 Dividends declared per share of Common Stock $ 0.12 $ 0.05 $ 0.05 $ 0.05

Financial Statement Schedule 37

Financial Statement Schedule III - Real Estate and Accumulated Depreciation (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Description Encumbrances Initial Cost Capitalized Costs Sales Impairment Write-downs Accumulated Depreciation Carrying Value Date Acquired Depreciable Lives (years) Commercial and Residential Land under Development (TSV), South Lake Tahoe, California None $ 10,822,156 $ 18,152,652 $ — $ — $ — Note 4 $ 28,974,808 Various N/A Retail Complex (TSV), South Lake Tahoe, California $13,634,889 Note Payable 6,409,617 11,815,027 — — (1,394,649 ) Note 4 16,829,995 Various 5 - 3 Commercial Residential Land under Development (ZRV), South Lake Tahoe, California $20,213,560 Construction Loan Payable 5,016,443 29,788,810 — — — 34,805,253 Various N/A Residential Land under Development (ZRV II), South Lake Tahoe, California None 2,032,963 1,378,689 — — — 3,411,652 Various N/A Assisted Living Facility, Bensalem, Pennsylvania None 5,018,166 1,177,859 — — (375,316 ) 5,820,709 12/12/2014 5 - 27.5 Office Condominium Complex, Roseville, California None 8,569,286 321,923 (1,095,670 ) (3,712,707 ) (635,414 ) Note 5 3,447,418 9/26/2008 2 - 39 73 Residential Lots, Auburn, California None 13,746,625 36,745 (96,677 ) (9,904,826 ) — Note 6 3,781,867 9/27/2007 N/A 12 Condominium & 3 Commercial Units, Tacoma, Washington None 2,486,400 84,909 — — (259,517 ) 2,311,792 7/8/2011 27.5 - 39 Marina & Boat Club with 179 Boat Slips, Isleton, California None 2,002,525 698,218 — — (145,437 ) 2,555,306 1/29/2013 5 - 15 Undeveloped, Industrial Land, San Jose, California None 3,025,992 69,181 — (1,067,592 ) — Note 7 2,027,581 12/27/2002 N/A Golf Course, Auburn, California None 1,796,254 174,184 — — Note 8 1,970,438 6/20/2009 N/A Unimproved residential and commercial land, Bethel Island, California None 2,336,640 675 (1,867 ) — — 2,335,448 3/11/2014 N/A Miscellaneous Real Estate None (341,094 ) 4,851,131 Various Various TOTALS $ (3,151,427 ) $ 113,123,398
Changes in Accumulated Depreciation [Member]
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Balance at beginning of period (1/1/14) $ 9,599,719 Additions during period: Depreciation expense 2,150,548 Subtotal 11,750,267 Deductions during period: Accumulated depreciation on real estate moved to held for sale 5,674,980 Balance at end of period (12/31/14) $ 6,075,287 Balance at beginning of period (1/1/15) $ 6,075,287 Additions during period: Depreciation expense 1,971,345 Subtotal 8,046,632 Deductions during period: Accumulated depreciation on real estate moved to held for sale 5,131,036 Balance at end of period (12/31/15) $ 2,915,596 Balance at beginning of period (1/1/16) 2,915,596 Additions during period: Depreciation expense 1,185,624 Subtotal 4,101,220 Deductions during period: Accumulated depreciation on real estate moved to held for sale 949,793 Balance at end of period (12/31/16) $ 3,151,427
Changes in Real Estate Held-for-Sale and Investment [Member]
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Balance at beginning of period (1/1/14) $ 135,315,964 Additions during period: Acquisitions through foreclosure 9,572,406 Investments in real estate properties 21,866,298 Amortization of deferred financing costs capitalized to construction project 120,952 Subtotal 166,875,620 Deductions during period: Cost of real estate properties sold 1,529,227 Impairment losses on real estate properties 179,040 Depreciation of properties held for investment 2,150,548 Balance at end of period (12/31/14) $ 163,016,805 Balance at beginning of period (1/1/15) $ 163,016,805 Additions during period: Acquisitions through foreclosure — Investments in real estate properties 25,274,125 Amortization of deferred financing costs capitalized to construction project 207,347 Subtotal 188,498,277 Deductions during period: Cost of real estate properties sold 31,099,086 Impairment losses on real estate properties 1,589,434 Depreciation of properties held for investment 1,971,345 Balance at end of period (12/31/15) $ 153,838,412 Balance at beginning of period (1/1/16) 153,838,412 Additions during period: Acquisitions through foreclosure 700,800 Investments in real estate properties 29,061,735 Amortization of deferred financing costs capitalized to construction project 119,471 Subtotal 183,720,418 Deductions during period: Cost of real estate properties sold 66,183,589 Impairment losses on real estate properties 3,227,807 Depreciation of properties held for investment 1,185,624 Balance at end of period (12/31/16) $ 113,123,398

Financial Statement Schedule 38

Financial Statement Schedule IV - Mortgage Loans on Real Estate (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Participating Mortgage Loans [Table Text Block]	Description Interest Rate Final Maturity date Carrying Amount of Mortgages Principal Amount of Loans Subject to Delinquent Principal Principal Amount of Loans Subject to Delinquent Payments TYPE OF PROPERTY Commercial 6.99 - 10.00% Current to December 2019 $ 102,442,111 $ 3,675,000 $ — Residential 7.50 - 11.00% Current to March 2028 19,001,677 9,666,827 4,883,866 Land 4.00 - 9.00% April 2017 to January 2019 8,238,523 — — TOTAL $ 129,682,311 $ 13,341,827 $ 4,883,866 AMOUNT OF LOAN $0-500,000 7.50 - 8.50% Current to March 2028 $ 1,944,637 $ 691,035 $ 228,349 $500,001-1,000,000 7.50 - 8.50% January 2017 to December 2017 3,671,909 — — $1,000,001-5,000,000 4.00 - 11.00% Current to December 2019 81,894,561 12,650,792 4,655,517 Over $5,000,000 6.99 - 7.75% December 2017 to July 2019 42,171,204 — — TOTAL $ 129,682,311 $ 13,341,827 $ 4,883,866 POSITION OF LOAN First 4.00 - 11.00% Current to March 2028 $ 126,873,673 $ 12,850,792 $ 4,883,866 Second 7.75 - 8.25% Current to July 2017 2,808,638 491,035 — TOTAL $ 129,682,311 $ 13,341,827 $ 4,883,866
Loans Which Exceed Three Percent of the Total Loans [Member]
Notes Tables
Schedule of Participating Mortgage Loans [Table Text Block]	Description Interest Rate Final Maturity Date Periodic Payment Terms Prior Liens Face Amount of Mortgages Carrying Amount of Mortgages Principal Amount of Loans Subject to Delinquent Principal or Interest Shopping Center Ontario, California 6.99 % 1/1/18 Interest only, balance due at maturity 0 10,000,000 8,400,000 0 Hotel Novi, Michigan 7.75 % 12/31/17 Interest only, balance due at maturity 0 8,835,000 7,917,143 0 Office Building Dublin, California 7.50 % 7/1/19 Interest only, balance due at maturity 0 7,000,000 7,000,000 0 Office Building Escondido, California 7.75 % 11/15/18 Interest only, balance due at maturity 0 6,674,400 6,574,400 0 Apartment Building Oxnard, California 7.25 % 4/1/18 Interest only, balance due at maturity 0 14,900,000 6,252,037 0 Storage Facility Benbrook, Texas 7.75 % 5/15/18 Interest only, balance due at maturity 0 6,625,000 6,027,624 0 Office Building Redwood City, California 8.00 % 11/15/17 Interest only, balance due at maturity 0 4,860,000 4,860,000 0 Retail Building Antioch, California 8.00 % 10/15/18 Interest only, balance due at maturity 0 7,000,000 4,724,635 0 Condominiums Phoenix, Arizona 11.00 % 7/1/09 Interest only, Balance due at maturity 0 7,535,000 4,655,517 4,655,517 Unimproved Land Fairfield, California 9.00 % 4/15/17 Interest only, Balance due at maturity 0 4,500,000 4,500,000 0 Office Building San Francisco, California 7.75 % 11/1/17 Interest only, Balance due at maturity 0 4,250,000 4,250,000 0 Office Building Chula Vista, California 7.50 % 11/1/18 Interest only, Balance due at maturity 0 5,600,000 4,049,498 0 TOTALS $ 0 $ 87,779,400 $ 69,210,854 $ 4,655,517
Changes in Mortgage Loans on Real Estate [Member]
Notes Tables
Schedule of Participating Mortgage Loans [Table Text Block]	Balance at beginning of period (1/1/14) $ 58,796,293 Additions during period: New loans 44,505,577 Advances moved to principal of loans 122,004 Subtotal 103,423,874 Deductions during period: Collection of principal 27,718,917 Foreclosures 7,671,446 Balance at end of period (12/31/14) $ 68,033,511 Balance at beginning of period (1/1/15) $ 68,033,511 Additions during period: New loans, including from sale of real estate property 73,389,645 Discount accretion 536,816 Subtotal 141,959,972 Deductions during period: Collection of principal 35,216,165 Foreclosures — Balance at end of period (12/31/15) $ 106,743,807 Balance at beginning of period (1/1/16) $ 106,743,807 Additions during period: New loans, including from sale of real estate property 79,867,140 Subtotal 186,610,947 Deductions during period: Collection of principal 55,849,884 Foreclosures 1,078,752 Balance at end of period (12/31/16) $ 129,682,311

Note 1 - Organization (Details

Note 1 - Organization (Details Textual) - $ / shares	Dec. 31, 2016	Dec. 31, 2015	Jan. 23, 2013	Aug. 09, 2012	Dec. 31, 2011
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
Common Stock, Shares, Issued	11,198,119	11,198,119			11,198,119
Potential Percentage Penalty Tax	100.00%
REIT Minimum Percent Distribution of Taxable Income	90.00%

Note 2 - Summary of Significa40

Note 2 - Summary of Significant Accounting Policies (Details Textual) shares in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)
Number of Operating Segments	1
Debt Issuance Costs, Net | $	$ 462,515	$ 658,194
Lessor Leasing Arrangements, Operating Leases, Term of Contract	1 year
Weighted Average Number Diluted Shares Outstanding Adjustment	0
Unrecognized Tax Benefits | $	$ 0	$ 0
Restricted Stock Units (RSUs) [Member]
Weighted Average Number Diluted Shares Outstanding Adjustment	0
Restricted Stock [Member]
Weighted Average Number Diluted Shares Outstanding Adjustment	0
Minimum [Member]
Lessor Leasing Arrangements, Operating Leases, Term of Contract	1 year
Maximum [Member]
Lessor Leasing Arrangements, Operating Leases, Term of Contract	9 years
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	5 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	39 years
1850 [Member]
Equity Method Investment, Ownership Percentage	50.00%

Note 3 - Loans and Allowance 41

Note 3 - Loans and Allowance for Loan Losses (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014
Financing Receivable, Recorded Investment, Current	$ 121,735,198	$ 98,050,000
Allowance for Loan and Lease Losses, Real Estate	$ 2,706,822	$ 1,842,446
Financing Receivable, Modifications, Number of Contracts	0	0	1
Financing Receivable, Modifications, Subsequent Default, Number of Contracts	0	0	0
Loans and Leases Receivable, Impaired, Commitment to Lend	$ 0	$ 0
Extended Maturity [Member]
Allowance for Loan and Lease Losses, Real Estate	733,000	486,000
Financing Receivable, Modifications, Recorded Investment	5,374,000	9,208,000
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	102,442,111	75,721,545
Residential Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	12,134,564	$ 17,060,812
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member]
Financing Receivable, Recorded Investment, Current	8,686,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	3,675,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member]
Financing Receivable, Recorded Investment, Current	2,500,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Current	1,175,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Current	$ 5,011,000

Note 3 - Loans and Allowance 42

Note 3 - Loans and Allowance for Loan Losses - Allocation of the Allowance for Loan Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Beginning balance	$ 1,842,446	$ 2,869,355	$ 4,739,088
Charge-offs	(447,520)
Recoveries	27,000
Provision	1,284,896	(1,026,909)	(1,869,733)
Ending balance	2,706,822	1,842,446	2,869,355
Ending balance: individually evaluated for impairment - allowance for loan losses				$ 732,712	$ 485,823
Ending balance: collectively evaluated for impairment - allowance for loan losses				1,974,110	1,356,623
Ending balance	1,842,446	1,842,446	2,869,355	2,706,822	1,842,446
Loans and Leases Receivable, Gross				129,682,311	106,743,807
Ending balance: individually evaluated for impairment - loans				4,883,866	8,693,807
Ending balance: collectively evaluated for impairment - loans				124,798,445	98,050,000
Commercial Portfolio Segment [Member]
Beginning balance	1,140,530	888,260	932,651
Charge-offs	(447,520)
Recoveries	27,000
Provision	144,961	252,270	(44,391)
Ending balance	864,971	1,140,530	888,260
Ending balance: individually evaluated for impairment - allowance for loan losses					485,823
Ending balance: collectively evaluated for impairment - allowance for loan losses				864,971	654,707
Ending balance	1,140,530	1,140,530	888,260	864,971	1,140,530
Loans and Leases Receivable, Gross				102,442,111	76,800,297
Ending balance: individually evaluated for impairment - loans					1,078,752
Ending balance: collectively evaluated for impairment - loans				102,442,111	75,721,545
Residential Portfolio Segment [Member]
Beginning balance	455,587	1,975,112	3,798,203
Charge-offs
Recoveries
Provision	875,731	(1,519,525)	(1,823,091)
Ending balance	1,331,318	455,587	1,975,112
Ending balance: individually evaluated for impairment - allowance for loan losses				732,712
Ending balance: collectively evaluated for impairment - allowance for loan losses				598,606	455,587
Ending balance	455,587	455,587	1,975,112	1,331,318	455,587
Loans and Leases Receivable, Gross				19,001,677	24,675,867
Ending balance: individually evaluated for impairment - loans				4,883,866	7,615,055
Ending balance: collectively evaluated for impairment - loans				14,117,811	17,060,812
Land Portfolio Segment [Member]
Beginning balance	246,329	5,983	8,234
Charge-offs
Recoveries
Provision	264,204	240,346	(2,251)
Ending balance	510,533	246,329	5,983
Ending balance: individually evaluated for impairment - allowance for loan losses
Ending balance: collectively evaluated for impairment - allowance for loan losses				510,533	246,329
Ending balance	$ 246,329	$ 246,329	$ 5,983	510,533	246,329
Loans and Leases Receivable, Gross				8,238,523	5,267,643
Ending balance: individually evaluated for impairment - loans
Ending balance: collectively evaluated for impairment - loans				$ 8,238,523	$ 5,267,643

Note 3 - Loans and Allowance 43

Note 3 - Loans and Allowance for Loan Losses - Aging Analysis of the Loan Portfolio by the Time Past Due (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Past due loans	$ 7,947,113	$ 8,693,807
Current loans	121,735,198	98,050,000
Total Loans	129,682,311	106,743,807
Financing Receivables, 30 to 59 Days Past Due [Member]
Past due loans	3,063,247
Financing Receivables, 60 to 89 Days Past Due [Member]
Past due loans
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due loans	4,883,863	8,693,807
Commercial Portfolio Segment [Member]
Past due loans		1,078,752
Current loans	102,442,111	75,721,545
Total Loans	102,442,111	76,800,297
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due loans
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due loans
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due loans		1,078,752
Residential Portfolio Segment [Member]
Past due loans	6,867,113	7,615,055
Current loans	12,134,564	17,060,812
Total Loans	19,001,677	24,675,867
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due loans	1,983,247
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due loans
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due loans	4,883,866	7,615,055
Land Portfolio Segment [Member]
Past due loans	1,080,000
Current loans	7,158,523	5,267,643
Total Loans	8,238,523	5,267,643
Land Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due loans	1,080,000
Land Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due loans
Land Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due loans

Note 3 - Loans and Allowance 44

Note 3 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Recorded investment, with no related allowance	$ 228,349	$ 8,063,450
Unpaid principal balance, with no related allowance	228,349	7,615,055
Average recorded investment, with no related allowance	1,920,919	10,827,971	$ 21,113,705
Interest income recognized, with no related allowance	58,785	1,049,330	2,575,910
Recorded investment, with related allowance	5,145,712	1,144,864
Unpaid principal balance, with related allowance	4,655,517	1,078,752
Related allowance	732,712	485,823
Average recorded investment, with related allowance	7,074,825	1,119,594	9,063,047
Interest income recognized, with related allowance		49,442	197,958
Recorded investment	5,374,061	9,208,314
Unpaid principal balance	4,883,866	8,693,807
Average recorded investment	8,995,744	11,947,565	30,176,752
Interest income recognized	58,785	1,098,772	2,773,868
Commercial Portfolio Segment [Member]
Recorded investment, with no related allowance
Unpaid principal balance, with no related allowance
Average recorded investment, with no related allowance	1,684,877	2,300,846	16,686,997
Interest income recognized, with no related allowance	38,187	639,935	1,714,230
Recorded investment, with related allowance		1,144,864
Unpaid principal balance, with related allowance		1,078,752
Related allowance		485,823
Average recorded investment, with related allowance	865,285	1,119,594	1,079,681
Interest income recognized, with related allowance		49,442	47,958
Recorded investment		1,144,864
Unpaid principal balance		1,078,752
Average recorded investment	2,550,162	3,420,440	17,766,678
Interest income recognized	38,187	689,377	1,762,188
Residential Portfolio Segment [Member]
Recorded investment, with no related allowance	228,349	8,063,450
Unpaid principal balance, with no related allowance	228,349	7,615,055
Average recorded investment, with no related allowance	236,042	8,217,114	1,986,693
Interest income recognized, with no related allowance	20,598	192,491	688,196
Recorded investment, with related allowance	5,145,712
Unpaid principal balance, with related allowance	4,655,517
Related allowance	732,712
Average recorded investment, with related allowance	6,209,540		7,983,366
Interest income recognized, with related allowance			150,000
Recorded investment	5,374,061	8,063,450
Unpaid principal balance	4,883,866	7,615,055
Average recorded investment	6,445,582	8,217,114	9,970,059
Interest income recognized	20,598	192,491	838,196
Land Portfolio Segment [Member]
Recorded investment, with no related allowance
Unpaid principal balance, with no related allowance
Average recorded investment, with no related allowance		310,011	2,440,015
Interest income recognized, with no related allowance		216,904	173,484
Recorded investment, with related allowance
Unpaid principal balance, with related allowance
Related allowance
Average recorded investment, with related allowance
Interest income recognized, with related allowance
Recorded investment
Unpaid principal balance
Average recorded investment		310,011	2,440,015
Interest income recognized		$ 216,904	$ 173,484

Note 3 - Loans and Allowance 45

Note 3 - Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014USD ($)
Number of contracts	0	0	1
Land Portfolio Segment [Member]
Number of contracts			1
Pre-modification outstanding investment			$ 1,860,068
Post-modification outstanding investment			$ 1,860,068

Note 4 - Investment in Limite46

Note 4 - Investment in Limited Liability Company (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jul. 31, 2008
Proceeds from Equity Method Investment, Dividends or Distributions	$ 180,000	$ 177,000	$ 170,000
Income (Loss) from Equity Method Investments	179,449	175,451	169,999
1850 [Member]
Number of Real Estate Properties				2
Number of Companies				2
Proceeds from Equity Method Investment, Dividends or Distributions	180,000	177,000	170,000
Income (Loss) from Equity Method Investments	$ 179,000	$ 175,000	$ 170,000

Note 5 - Real Estate Held for47

Note 5 - Real Estate Held for Sale (Details Textual)	1 Months Ended	3 Months Ended												12 Months Ended
	Sep. 30, 2016USD ($)a	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)a	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale														4	7	5
Real Estate Properties, Transfer to Held for Sale from Held for Investment														$ 10,052,000	$ 64,628,000	$ 56,405,000
Number of Real Estate Properties Transferred from Held for Sale to Held for Investment																3
Real Estate Properties, Transfer to Held for Investment from Held for Sale															1,954,000	$ 2,289,000
Impairment of Real Estate														$ 3,227,807	$ 1,589,434	$ 179,040
Number of Real Estate Properties Sold														7	8	2
Gain (Loss) on Sale of Properties		$ (536,419)	$ 20,195,367		$ 4,838,815	$ 6,787,254		$ 14,825,858	$ 205,441	$ 503,254	$ 113,113	$ 2,349,808	$ 277,184	$ 24,497,763	$ 21,818,553	$ 3,243,359
Real Estate Held-for-sale		75,843,635				100,191,166								75,843,635	100,191,166
Mortgage Loans on Real Estate, Foreclosures														0	0
Gain on Foreclosure of Loan										$ 207,734			$ 257,020			464,754
Gain (Loss) on Transfers Between Held for Sale and Held for Investment														$ 0	$ 0	$ 0
Land Property [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale														1	1
Number of Real Estate Properties Transferred from Held for Sale to Held for Investment																1
Number of Real Estate Properties Sold														2	1	2
Office Building [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale														1		1
Number of Real Estate Properties Sold														2
Real Estate Held-for-sale		732,539				4,716,487								$ 732,539	$ 4,716,487
Condominium Property [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale														1
Golf Course [Member]
Number of Real Estate Properties Transferred from Held for Sale to Held for Investment															1
Real Estate Held-for-sale		1,970,437												$ 1,970,437
Industrial Property [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale															2
Number of Real Estate Properties Sold														1	1
Real Estate Held-for-sale						1,460,935									$ 1,460,935
Residential [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale															2	2
Number of Real Estate Properties Transferred from Held for Sale to Held for Investment																1
Number of Real Estate Properties Sold														2	1
Real Estate Held-for-sale						$ 51,942,601									$ 51,942,601
Storage [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale															1
Number of Real Estate Properties Sold															1
Marinas [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale															1
Number of Real Estate Properties Transferred from Held for Sale to Held for Investment																1
Number of Real Estate Properties Sold															1
Retail Site [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale																2
Number of Real Estate Properties Sold															3
Unimproved Residential and Commercial Land Located in Gypsum Colorado [Member]
Impairment of Real Estate														2,110,000	$ 1,589,000
Medical Office Condominium Complex, Gilbert, Arizona [Member]
Impairment of Real Estate														1,094,000
Office Property in Oakdale, California [Member]
Impairment of Real Estate														24,000
Mortgage Loans on Real Estate, Foreclosures														1,079,000
Interest and Other Receivables, Foreclosures														70,000
Gain (Loss) on Foreclosure of Loan														495,000
Provision for Loan and Lease Losses														47,000
Allowance for Loan and Lease Losses Write-offs, Net														$ 448,000
Office Property in Oakdale, California [Member] | Foreclosed [Member]
Mortgage Loans on Real Estate, Number of Loans														1
Marina Property in Oakley, California [Member]
Impairment of Real Estate																$ 179,000
Real Estate Properties Sold during the Period [Member]
Proceeds from Sale of Other Real Estate														$ 89,402,000	48,602,000
Mortgage Loan Related to Property Sales														1,595,000	4,650,000
Gain (Loss) on Sale of Properties														24,498,000	21,666,000
Gain (Loss) on Sale of Properties, Attributable to Parent														20,782,000	19,187,000
Gain (Loss) on Sale of Properties, Attributable to Noncontrolling Interest														3,716,000	2,479,000
Deferred Gain on Property [Member]
Gain (Loss) on Sale of Properties															$ 153,000	2,951,000
Land and Easement [Member]
Proceeds from Sale of Other Real Estate																1,821,000
Gain (Loss) on Sale of Properties																$ 292,000
The Chateau at the Village [Member] | Tahoe Stateline Venture, LLC [Member] | Jianping Pan, Kawana Holdings LLC [Member]
Mortgage Loan Related to Property Sales	$ 32,500,000
Area of Real Estate for Sale | a	8		8
Real Estate Held for Sale Purchase Agreement Amount, Net of Seller's Credit	$ 42,500,000		$ 42,500,000
Real Estate Held for Sale Purchase Agreement, Initial Deposit Paid into Escrow by Buyer	13,000,000
Real Estate Held for Sale Purchase Agreement, Buyer's Credit	3,000,000
Real Estate Held-for-sale		$ 28,975,000												$ 28,975,000
Land and Land Improvements [Member]
Real Estate Properties, Transfer to Held for Sale from Held for Investment	$ 6,066,000
Real Estate Property San Jose, California [Member]
Mortgage Loans on Real Estate, Number of Loans																1
Mortgage Loans on Real Estate, Foreclosures																$ 690,000
Gain on Foreclosure of Loan																$ 208,000

Note 5 - Real Estate Held for48

Note 5 - Real Estate Held for Sale - Properties Acquired Through Foreclosure (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Real Estate Held-for-sale	$ 75,843,635	$ 100,191,166
Improved and Unimproved Land [Member]
Real Estate Held-for-sale	73,140,659	42,071,143
Residential [Member]
Real Estate Held-for-sale		51,942,601
Office Building [Member]
Real Estate Held-for-sale	732,539	4,716,487
Industrial Property [Member]
Real Estate Held-for-sale		1,460,935
Golf Course [Member]
Real Estate Held-for-sale	$ 1,970,437

Note 6 - Real Estate Held for49

Note 6 - Real Estate Held for Investment (Details Textual)	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Depreciation									$ 1,186,000	$ 1,971,000	$ 2,151,000
Mortgage Loans on Real Estate, Foreclosures									0	0
Gain on Foreclosure of Loan					$ 207,734			$ 257,020			464,754
Assisted Care Facility [Member]
Mortgage Loans on Real Estate, Foreclosures											$ 6,981,000
Mortgage Loans on Real Estate, Number of Loans											2
Gain on Foreclosure of Loan											$ 257,000

Note 6 - Real Estate Held for50

Note 6 - Real Estate Held for Investment - Real Estate Held for Investment (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Real estate held for investment	$ 37,279,763	$ 53,647,246
Land and land improvements	11,520,339	23,443,676
Buildings and improvements	28,910,851	33,119,166
Real estate held for investment	40,431,190	56,562,842
Less: Accumulated depreciation and amortization	(3,151,427)	(2,915,596)
Retail Site [Member]
Real estate held for investment	16,829,995	23,122,714
Improved and Unimproved Land [Member]
Real estate held for investment	4,234,806	8,112,676
Residential [Member]
Real estate held for investment	2,405,439	6,673,540
Assisted Care Facility [Member]
Real estate held for investment	5,820,709	5,402,376
Office Building [Member]
Real estate held for investment	3,962,869	4,315,608
Marinas [Member]
Real estate held for investment	4,025,945	4,079,087
Golf Course [Member]
Real estate held for investment		$ 1,941,245

Note 7 - Lines of Credit Paya51

Note 7 - Lines of Credit Payable (Details Textual) - USD ($)	1 Months Ended			12 Months Ended
	Mar. 31, 2016	Apr. 30, 2014	Feb. 28, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 01, 2016
Interest Expense				$ 2,859,294	$ 1,938,113	$ 1,161,822
Debt Issuance Costs, Net				462,515	658,194
Revolving Credit Facility [Member] | CB and T [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 30,000,000				$ 50,000,000
Line of Credit Facility Maximum Borrowing Capacity Additional Amount							$ 75,000,000
Debt Instrument, Basis Spread on Variable Rate			0.25%
Interest Rate Increases Upon Default			2.00%
Loan Processing Fee	$ 255,000		$ 100,000
Debt Issuance Costs, Line of Credit Arrangements, Gross			$ 177,000
Interest Expense				881,000	431,000	458,000
Amortization of Debt Issuance Costs				$ 131,000	126,000	69,000
Revolving Credit Facility [Member] | CB and T [Member] | Prime Rate [Member]
Debt Instrument, Interest Rate, Stated Percentage				4.00%
Revolving Credit Facility [Member] | Opus Credit Facility [Member]
Debt Issuance Costs, Line of Credit Arrangements, Gross		$ 231,000
Interest Expense				$ 364,000	126,000	112,000
Amortization of Debt Issuance Costs				103,000	$ 77,000	$ 51,000
Debt Issuance Costs, Net				$ 45,000
Revolving Credit Facility [Member] | Opus Credit Facility [Member] | Minimum [Member] | Contingency Reserves [Member]
Loan Processing Fee		$ 100,000

Note 7 - Lines of Credit Paya52

Note 7 - Lines of Credit Payable - Credit Facilities (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Lines of credit payable	$ 4,976,000	$ 20,915,500
Lines of credit, commitment	22,625,000	35,200,753
CB and T [Member]
Lines of credit payable	4,976,000	8,289,500
Lines of credit, commitment	22,625,000	22,574,753
Opus Credit Facility [Member]
Lines of credit payable		12,626,000
Lines of credit, commitment		$ 12,626,000

Note 7 - Lines of Credit Paya53

Note 7 - Lines of Credit Payable - Loans Securing Credit Facility (Details) - CB and T [Member]	Dec. 31, 2016USD ($)
Carrying amount of loans securing CB&T Facility	$ 33,595,384
Commercial Loan [Member]
Carrying amount of loans securing CB&T Facility	29,555,335
Residential Real Estate [Member]
Carrying amount of loans securing CB&T Facility	$ 4,040,049

Note 8 - Notes and Loans Paya54

Note 8 - Notes and Loans Payable on Real Estate (Details Textual)	1 Months Ended	12 Months Ended
	Aug. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Nov. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2013
Repayments of Notes Payable		$ 36,380,880	$ 20,055,762	$ 800,954
Interest Expense		2,859,294	1,938,113	1,161,822
Debt Issuance Costs, Net		462,515	658,194
Tahoe Stateline Venture LLC Note1 [Member]
Repayments of Notes Payable		2,900,000
Tahoe Stateline Venture, LLC Note 2 [Member]
Repayments of Notes Payable		500,000
Tahoe Stateline Venture, LLC [Member]
Number of Parcels							9
Interest Paid		167,000	170,000	195,000
Interest Payable		0	18,000
Tahoe Stateline Venture, LLC [Member] | TSV Credit Agreement [Member]
Debt Instrument, Face Amount				14,500,000
Debt Issuance Costs, Gross		218,000
Amortization of Debt Issuance Costs		36,000	36,000	0
Interest Expense		515,000	427,000	1,000
Proceeds from Issuance of Debt				10,445,000
Debt Instrument, Unused Borrowing Capacity, Amount		$ 3,830,000
Debt Instrument, Interest Rate, Stated Percentage		3.47%
Debt Instrument, Amortization Period		25 years
Tahoe Stateline Venture, LLC [Member] | TSV Credit Agreement [Member] | Closing Fee [Member]
Debt Issuance Costs, Gross		$ 108,750
Tahoe Stateline Venture, LLC [Member] | TSV Credit Agreement [Member] | Outstanding Principal Balance [Member]
Debt Instrument Default Rate Increase		5.00%
Tahoe Stateline Venture, LLC [Member] | TSV Credit Agreement [Member] | Other Outstanding Obligations [Member]
Debt Instrument Default Rate Increase		10.00%
TOTB North, LLC [Member] | TOTB North Loan Agreement [Member]
Debt Issuance Costs, Gross				622,000
Amortization of Debt Issuance Costs		$ 36,000	207,000	121,000
Interest Expense		102,000
Interest Costs Incurred		626,000	278,000	22,000
Interest Costs Capitalized		134,000	278,000	22,000
Write off of Net Debt Issuance Costs		156,000
TOTB North, LLC [Member] | TOTB North Loan Agreement [Member] | Maximum [Member]
Debt Instrument, Face Amount						$ 21,304,000
TOTB Miami LLC [Member] | TOTB Miami Loan Agreement [Member]
Debt Instrument, Face Amount					$ 13,000,000
Debt Issuance Costs, Gross			323,000
Amortization of Debt Issuance Costs		84,000	129,000	12,000
Interest Expense		505,000	$ 690,000	$ 81,000
Write off of Net Debt Issuance Costs		98,000
ZRV and ZRV II [Member] | Loan Agreement [Member] | Western Alliance Bank [Member]
Amortization of Debt Issuance Costs		83,000
Interest Costs Capitalized		272,000
Debt Agreement, Maximum Borrowing Capacity	$ 31,000,000
Debt Agreement, Maximum Borrowing Capacity, Percentage of Project Value	60.00%
Debt Agreement, Maximum Borrowing Capacity, Percentage of Total Cost of Project	65.00%
Debt Agreement, Increase in Interest Rate Upon Default	5.00%
Debt Agreement, Curtailment Requirement	$ 6,000,000
Debt Instrument, Collateral Amount	3,000,000
Debt Agreement, Origination Fee Obligation	$ 310,000
Debt Issuance Costs, Net		$ 400,000
ZRV and ZRV II [Member] | Loan Agreement [Member] | Western Alliance Bank [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
ZRV and ZRV II [Member] | Loan Agreement [Member] | Minimum [Member] | Western Alliance Bank [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Debt Instrument, Interest Rate, Effective Percentage	5.25%

Note 8 - Notes and Loans Paya55

Note 8 - Notes and Loans Payable on Real Estate - Notes and Loans Payable Outstanding (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Debt instrument, outstanding	$ 33,848,449	$ 46,117,038
Less unamortized deferred financing costs	(462,515)	(658,194)
Notes and loans payable, net	33,385,934	45,458,844
Tahoe Stateline Venture, LLC [Member] | Tahoe Stateline Venture LLC Note1 [Member]
Debt instrument, outstanding		$ 2,900,000
Debt Instrument, Interest Rate, Stated Percentage		5.00%
Tahoe Stateline Venture, LLC [Member] | Tahoe Stateline Venture LLC Note 3 [Member]
Debt instrument, outstanding		$ 500,000
Debt Instrument, Interest Rate, Stated Percentage		5.00%
Tahoe Stateline Venture, LLC [Member] | TSV Credit Agreement [Member]
Debt instrument, outstanding	$ 13,634,889	$ 14,013,901
Debt Instrument, Interest Rate, Stated Percentage	3.47%	3.47%
TOTB North, LLC [Member]
Debt instrument, outstanding		$ 16,009,906
Debt Instrument, Interest Rate, Stated Percentage		4.61%
TOTB Miami LLC [Member]
Debt instrument, outstanding		$ 12,693,231
Debt Instrument, Interest Rate, Stated Percentage		4.61%
Zalanta Resort at the Village, LLC [Member] | Loan Agreement [Member]
Debt instrument, outstanding	$ 20,213,560
Debt Instrument, Interest Rate, Stated Percentage	5.25%

Note 8 - Notes and Loans Paya56

Note 8 - Notes and Loans Payable on Real Estate - Notes and Loans Payable Maturities (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
2,017	$ 20,605,935
2,018	406,209
2,019	420,531
2,020	435,358
2,021	11,980,416
Thereafter
Total	$ 33,848,449	$ 46,117,038

Note 9 - Stockholders' Equity57

Note 9 - Stockholders' Equity (Details Textual) - USD ($)	Aug. 09, 2013	Jan. 31, 2017	Jan. 31, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 11, 2015	May 27, 2015
Tax Payment Made on Behalf of Stockholders			$ 1,313,657													$ 582,698	$ 1,313,657
Dividends																$ 3,279,193	$ 4,344,417	$ 2,906,693
Common Stock, Dividends, Per Share, Declared				$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.18	$ 0.07	$ 0.12	$ 0.05	$ 0.05	$ 0.05	$ 0.32	$ 0.41	$ 0.27
Treasury Stock, Value, Acquired, Cost Method																	$ 7,502,902	$ 325,488
The 2013 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount	$ 7,000,000
Stock Repurchase Program Authorized Amount Percentage of Outstanding Shares	5.00%
Treasury Stock, Shares, Acquired																		26,208	403,910
Treasury Stock, Value, Acquired, Cost Method																		$ 325,000	$ 5,024,000
Treasury Stock Acquired, Average Cost Per Share																		$ 12.40	$ 12.44
The 2015 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount																					$ 7,500,000
Treasury Stock, Shares, Acquired																	520,524
Treasury Stock, Value, Acquired, Cost Method																	$ 7,503,000
Treasury Stock Acquired, Average Cost Per Share																	$ 14.41
The 2016 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount																				$ 7,500,000
Tax Year 2014 [Member]
Common Stock, Dividends, Per Share, Declared																		0.088
Tax Year 2015 [Member]
Common Stock, Dividends, Per Share, Declared																		$ 0.032
Dividends Declared December 2014 and Paid in January 2015 [Member]
Dividends																		$ 1,292,160
Special Dividend [Member]
Common Stock, Dividends, Per Share, Declared																		$ 0.07
Regular Dividend [Member]
Common Stock, Dividends, Per Share, Declared																		$ 0.05
Dividends on Shares Repurchased Under Stock Repurchase Plans, in Transit [Member]
Dividends																	$ 2,914	$ 667
Subsequent Event [Member]
Tax Payment Made on Behalf of Stockholders		$ 582,698

Note 9 - Stockholders' Equity -

Note 9 - Stockholders' Equity - Tax Treatment for Dividends Paid by the Company (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Total Dividends Paid		$ 3,279,193		$ 4,344,417		$ 2,906,693
Dividends Paid Per Share (in dollars per share)		$ 0.32	[1]	$ 0.41	[2]	$ 0.287	[3]
Dividend Paid [Member]
Total Dividends Paid	[4]	$ 3,279,193	[1]	$ 4,347,331	[2]	$ 3,087,360	[3]
Classified as Ordinary Income [Member]
Dividends Paid Per Share (in dollars per share)		$ 0.048	[1]	$ 0.41	[2]	$ 0.255	[3]
Dividends Classified as Ordinary Income Percent		15.05%	[1]	100.00%	[2]	100.00%	[3]
Dividends Classified as Ordinary Income Qualified Dividend Income	[5]		[1]		[2]		[3]
Capital Gain Distribution [Member]
Dividends Paid Per Share (in dollars per share)		$ 0.272	[1]		[2]		[3]
Dividends Classified as Ordinary Income Percent		84.95%	[1]		[2]		[3]
Dividends Classified as Return of Capital [Member]
Dividends Paid Per Share (in dollars per share)		$ 0	[1]	$ 0	[2]	$ 0	[3]
Dividends Classified as Ordinary Income Percent			[1]		[2]		[3]
[1]	Dividends declared and paid in 2016 per above do not include $582,698 which represented capital gains tax on 2016 undistributed capital gains paid on behalf of shareholders to the U.S. Treasury in January 2017 (and recorded as dividends paid and payable in the consolidated financial statements).
[2]	Dividends declared and paid in 2015 per above do not include $1,313,657 which represented capital gains tax on 2015 undistributed capital gains paid on behalf of shareholders to the U.S. Treasury in January 2016 (and recorded as dividends paid and payable in the consolidated financial statements) and exclude the $1,292,160 dividend discussed in (3) below.
[3]	Dividends for 2014 include a $1,292,160 dividend declared for shareholders of record as of December 31, 2014 and paid in January 2015. This amount consisted of a $0.07 per share special dividend and a $0.05 per share regular quarterly dividend. This dividend was a split-year dividend with $0.088 allocable to 2014 and $0.032 allocable to 2015 for federal income tax purposes.
[4]	Includes $2,914 and $667 for 2015 and 2014, respectively, of dividends on shares repurchased under the stock repurchase plans discussed below that were in transit with respect to the deposit/withdrawal at custodian process and therefore not yet held as treasury shares on the record date of the dividends. When such funds were subsequently received by the Company they were posted to retained earnings such that dividends reflected on the consolidated statement of stockholders’ equity are net of these amounts.
[5]	Qualified dividend income is eligible for reduced dividend rates.

Note 10 - Restricted Cash (Deta

Note 10 - Restricted Cash (Details Textual) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Contingency Reserves as a Percent of Capital	1.50%
Restricted Cash and Cash Equivalents	$ 6,500,000	$ 7,225,371
Escrow Deposit	0	225,000
Contingency Reserves [Member]
Restricted Cash and Cash Equivalents	3,738,000	3,809,000
Contingency Reserves [Member] | Minimum [Member]
Restricted Cash and Cash Equivalents	$ 6,500,000	$ 7,000,000

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual)	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Percentage of Taxable Income Distributed to Stockholders									100.00%	100.00%	100.00%
Undistributed Net Realized Gain (Loss) on Sale of Properties	$ 4,451,000				$ 3,753,000				$ 4,451,000	$ 3,753,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent										35.00%
Gain (Loss) on Sale of Properties, Applicable Income Taxes									$ 583,000	$ 1,314,000
Number of Real Estate Properties Sold									7	8	2
Deferred Tax Assets, Net	7,249,000								$ 7,249,000
Deferred Tax Assets, Real Estate, Difference Between Book Value and Tax Basis	15,450,000								15,450,000
Gain (Loss) on Sale of Properties, before Applicable Income Taxes										$ 267,000
Income Tax Expense (Benefit)	(380,706)	$ 260,848	$ 7,368,835		93,335				(7,248,977)	93,335
Deferred Tax Assets, Capital Loss Carryforwards											822,000
Deferred Tax Assets, Valuation Allowance	794,744								794,744
Deferred Tax Assets, Operating Loss Carryforwards	1,889,310								1,889,310
Unrecognized Tax Benefits	0				$ 0				0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0								0
Federal NOLs in ZRV [Member]
Deferred Tax Assets, Valuation Allowance	$ 795,000								$ 795,000
Earliest Tax Year [Member]
Open Tax Year									2,012
Latest Tax Year [Member]
Open Tax Year									2,016
Zalanta [Member]
Number of Real Estate Properties Sold									2
Baldwin Ranch Subdivision, LLC [Member]
Number of Real Estate Properties	75								75
OMIF [Member] | Latest Tax Year [Member]
Open Tax Year										2,013
Zalanta Resort at the Village, LLC [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards	$ 5,514,000								$ 5,514,000
Zalanta Resort at the Village, LLC [Member] | State and Local Jurisdiction [Member] | California Franchise Tax Board [Member]
Operating Loss Carryforwards	251,000								251,000
Zalanta Resort at the Village, LLC [Member] | State and Local Jurisdiction [Member] | Arizona Department of Revenue [Member]
Operating Loss Carryforwards	5,263,000								5,263,000
Deferred Tax Assets, Operating Loss Carryforwards	$ 0								0
Lone Star Golf, Inc., Zalanta Resort and East G, LLC [Member]
Current Income Tax Expense (Benefit)									$ 0	$ 0	$ 0
To Maintain REIT Status for Federal Income Tax Purposes [Member]
Minimum Percentage of Taxable Income to be Distributed to Stockholders									90.00%
Threshold to not be Subject to Federal Corporate Income Tax [Member]
Minimum Percentage of Taxable Income to be Distributed to Stockholders									100.00%

Note 11 - Income Taxes - Income

Note 11 - Income Taxes - Income Tax Benefit (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Deferred benefit									$ 5,861,030
Deferred benefit									1,387,947
Deferred benefit									7,248,977
Income tax benefit									5,861,030
Income tax benefit									1,387,947
Income tax benefit	$ 380,706	$ (260,848)	$ (7,368,835)		$ (93,335)				$ 7,248,977	$ (93,335)

Note 11 - Income Taxes - Reconc

Note 11 - Income Taxes - Reconciliation of Income Tax Benefit (Provision) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Tax benefit (expense) at Federal statutory rate									$ 423,847
State income tax benefit (expense), net of federal effect									916,045
Real estate basis differences at TRS conversion									6,753,272
Other									(49,443)
Change in valuation allowance									(794,744)
Income tax benefit	$ 380,706	$ (260,848)	$ (7,368,835)		$ (93,335)				$ 7,248,977	$ (93,335)

Note 11 - Income Taxes - Deferr

Note 11 - Income Taxes - Deferred Tax Assets (Liabilities) (Details)	Dec. 31, 2016USD ($)
Real estate basis differences	$ 6,154,411
Net operating losses	1,889,310
Total deferred tax assets	8,043,721
Valuation allowance	(794,744)
Net deferred tax assets	$ 7,248,977

Note 12 - Transactions with A64

Note 12 - Transactions with Affiliates (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Management Fee Expense	$ 3,286,470	$ 2,051,134	$ 1,726,945
Professional and Contract Services Expense	298,770	186,467	156,995
Due to Related Parties	360,627	408,643
Late Fee Income Generated by Servicing Financial Assets, Amount	83,000	30,000	14,000
Ancillary Fee Income Generated by Servicing Financial Assets, Amount	20,000	7,000	4,000
Loan Fees Earned by OFG	2,514,000	1,956,000	$ 1,228,000
Loans and Leases Receivable, Gross	$ 129,682,311	$ 106,743,807
Loan Fees as Percentage of Loans Originated, Rewritten or Extended	2.50%	2.40%	2.40%
Owens Financial Group Inc. [Member]
Due to Related Parties	$ 36,000	$ 142,000
Loans and Leases Receivable, Gross	101,594,000	80,448,000	$ 50,440,000
Related Party Transaction, Amounts of Transaction	440,000	590,000	704,000
Related Party Transaction, Purchases from Related Party		1,499,000
OFG Officers [Member]
Related Party Transaction, Amounts of Transaction	0	1,000	1,000
Investors Yield Inc. [Member]
Related Party Transaction, Amounts of Transaction	$ 9,000	10,000	$ 30,000
Management Fee [Member]
Related Party Transaction, Rate	2.75%
Servicing Fee [Member]
Related Party Transaction, Rate	0.25%
Management and Service Fees [Member] | Owens Financial Group Inc. [Member]
Due to Related Parties	$ 324,000	$ 267,000

Note 13 - Rental Income (Detail

Note 13 - Rental Income (Details Textual)	12 Months Ended
	Dec. 31, 2016
Lessor Leasing Arrangements, Operating Leases, Term of Contract	1 year
Minimum [Member]
Lessor Leasing Arrangements, Operating Leases, Term of Contract	1 year
Maximum [Member]
Lessor Leasing Arrangements, Operating Leases, Term of Contract	9 years

Note 13 - Rental Income - Futur

Note 13 - Rental Income - Future Minimum Rental Income (Details)	Dec. 31, 2016USD ($)
2,017	$ 2,085,821
2,018	1,716,577
2,019	1,227,678
2,020	495,744
2,021	342,473
Thereafter (through 2024)	944,538
Total	$ 6,812,831

Note 14 - Fair Value (Details T

Note 14 - Fair Value (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Allowance for Loan and Lease Losses, Adjustments, Other	$ (1,284,896)	$ 1,026,909	$ 1,869,733
Impairment of Real Estate	3,227,807	1,589,434	179,040
Assets, Fair Value Disclosure, Recurring	0	0
Liabilities, Fair Value Disclosure, Recurring	0	0
Liabilities, Fair Value Disclosure, Nonrecurring	0	0
Land 1 and Commercial Portfolio Segment [Member]
Impairment of Real Estate	2,134,000
Land 1 [Member]
Impairment of Real Estate	2,110,000
Commercial Portfolio Segment [Member]
Impairment of Real Estate	24,000
Excluding Loan Loss Reversal Foreclosed Loan [Member]
Allowance for Loan and Lease Losses, Adjustments, Other	$ 733,000	(64,000)
Specific Reserves [Member]
Allowance for Loan and Lease Losses, Adjustments, Other		$ 0	$ (1,840,000)
Limit of Days Until Becoming Delinquent [Member]
Number of Days Delinquent	90

Note 14 - Fair Value - Assets a

Note 14 - Fair Value - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Assets at fair value	$ 4,413,000
Fair Value, Inputs, Level 3 [Member]
Assets at fair value	4,413,000
Impaired Loans [Member]
Assets at fair value		$ 659,041
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value		659,041
Impaired Loans [Member] | Residential Portfolio Segment [Member]
Assets at fair value	4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	4,413,000
Impaired Loans [Member] | Commercial Portfolio Segment [Member]
Assets at fair value		659,041
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value		659,041
Real Estate Properties [Member]
Assets at fair value	872,037	4,224,000
Real Estate Properties [Member] | Land 1 [Member]
Assets at fair value	139,498	4,224,000
Real Estate Properties [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	872,037	4,224,000
Real Estate Properties [Member] | Fair Value, Inputs, Level 3 [Member] | Land 1 [Member]
Assets at fair value	139,498	$ 4,224,000
Real Estate Properties [Member] | Commercial Portfolio Segment [Member]
Assets at fair value	732,539
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	$ 732,539

Note 14 - Fair Value - Level 3

Note 14 - Fair Value - Level 3 Fair Value Measurements for Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Assets at fair value	$ 4,413,000
Impaired Loans [Member]
Assets at fair value		$ 659,041
Impaired Loans [Member] | Residential Portfolio Segment [Member]
Assets at fair value	4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member]
Assets at fair value	$ 4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Minimum [Member]
Assets at fair value, comparable sales adjustment	(4.60%)
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Maximum [Member]
Assets at fair value, comparable sales adjustment	4.20%
Impaired Loans [Member] | Commercial Portfolio Segment [Member]
Assets at fair value		659,041
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member]
Assets at fair value		$ 659,041
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Minimum [Member]
Assets at fair value, estimate of future improvements		(20.00%)
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Maximum [Member]
Assets at fair value, estimate of future improvements		30.00%
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Income Approach Valuation Technique [Member]
Assets at fair value, capitalization rate	7.30%	7.00%
Real Estate Properties [Member]
Assets at fair value	$ 872,037	$ 4,224,000
Real Estate Properties [Member] | Land 1 [Member]
Assets at fair value	139,498	4,224,000
Real Estate Properties [Member] | Market Approach Valuation Technique [Member] | Land 1 [Member]
Assets at fair value	$ 139,498	$ 4,224,000
Assets at fair value, comparable sales adjustment	(33.70%)	(33.40%)
Real Estate Properties [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | Land 1 [Member]
Assets at fair value, comparable sales adjustment		7.50%
Real Estate Properties [Member] | Commercial Portfolio Segment [Member]
Assets at fair value	$ 732,539
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Minimum [Member]
Assets at fair value, comparable sales adjustment	(5.00%)
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Maximum [Member]
Assets at fair value, comparable sales adjustment	5.00%
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member]
Assets at fair value	$ 732,539

Note 14 - Fair Value - Carrying

Note 14 - Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Notes payable	$ 33,848,449	$ 46,117,038
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	434,000	1,256,000
Restricted cash	6,500,000	7,225,000
Loans, net
Investment in limited liability company
Accrued interest and advances receivable
Accrued interest payable
Lines of credit payable
Notes payable
Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Restricted cash
Loans, net
Investment in limited liability company
Accrued interest and advances receivable
Accrued interest payable	97,000	170,000
Lines of credit payable	4,976,000	20,916,000
Notes payable	20,213,000	28,703,000
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Restricted cash
Loans, net	126,652,000	104,895,000
Investment in limited liability company	2,650,000	2,352,000
Accrued interest and advances receivable	1,328,000	1,105,000
Accrued interest payable	40,000	59,000
Lines of credit payable
Notes payable	13,499,000	17,245,000
Reported Value Measurement [Member]
Cash and cash equivalents	434,000	1,256,000
Restricted cash	6,500,000	7,225,000
Loans, net	126,975,000	104,901,000
Investment in limited liability company	2,140,000	2,141,000
Accrued interest and advances receivable	1,328,000	1,105,000
Accrued interest payable	137,000	229,000
Lines of credit payable	4,976,000	20,916,000
Notes payable	33,386,000	45,459,000
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	434,000	1,256,000
Restricted cash	6,500,000	7,225,000
Loans, net	126,652,000	104,895,000
Investment in limited liability company	2,650,000	2,352,000
Accrued interest and advances receivable	1,328,000	1,105,000
Accrued interest payable	137,000	229,000
Lines of credit payable	4,976,000	20,916,000
Notes payable	$ 33,712,000	$ 45,948,000

Note 15 - Commitments and Con71

Note 15 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)
Contractual Obligation	$ 31,490,000
Interest Reserves [Member]
Contractual Obligation	4,274,000
Zalanta Resort at the Village, LLC [Member]
Contractual Obligation	33,809,000
Contractual Obligation Incurred	26,013,000
Other Construction Costs	3,801,000
Construction Costs Incurred and Other Costs	29,814,000
Zalanta II [Member]
Contractual Obligation	1,021,000
Contractual Obligation Incurred	845,000
Other Construction Costs	265,000
Construction Costs Incurred and Other Costs	$ 1,110,000

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual) - USD ($)

1 Months Ended

3 Months Ended

12 Months Ended

Feb. 28, 2017

Jan. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Gain (Loss) on Sale of Properties

$ (536,419)

$ 20,195,367

$ 4,838,815

$ 6,787,254

$ 14,825,858

$ 205,441

$ 503,254

$ 113,113

$ 2,349,808

$ 277,184

$ 24,497,763

$ 21,818,553

$ 3,243,359

Subsequent Event [Member] | Unimproved Residential and Commercial Land Located in Gypsum Colorado [Member]

Proceeds from Sale of Other Real Estate

$ 139,000

Gain (Loss) on Sale of Properties

$ 0

Subsequent Event [Member] | Office Condominium Complex Located in Oakdale, California [Member]

Proceeds from Sale of Other Real Estate

$ 732,000

Gain (Loss) on Sale of Properties

$ 0

Note 17 - Summary Quarterly C73

Note 17 - Summary Quarterly Consolidated Financial Information (Unaudited) - Quarterly Consolidated Financial Information (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Total revenues	$ 3,667,283	$ 4,493,977	$ 4,692,114	$ 4,225,617	$ 4,432,455	$ 4,414,217	$ 5,987,048	$ 6,409,831	$ 5,192,110	$ 4,705,357	$ 4,054,311	$ 3,868,473	$ 17,078,991	$ 21,243,551	$ 17,820,251
Total expenses	3,942,004	5,587,213	6,999,063	4,316,678	2,817,184	3,998,225	4,463,246	5,453,674	2,315,046	3,950,850	3,569,826	3,597,568	20,844,958	16,732,329	13,433,290
Operating income (loss)	(274,721)	(1,093,236)	(2,306,949)	(91,061)	1,615,271	415,992	1,523,802	956,157	2,877,064	754,507	484,485	270,905	(3,765,967)	4,511,222	4,386,961
Gain (Loss) on Sale of Properties	(536,419)	20,195,367		4,838,815	6,787,254		14,825,858	205,441	503,254	113,113	2,349,808	277,184	24,497,763	21,818,553	3,243,359
Net (loss) income before income taxes	(811,140)	19,102,131	(2,306,949)	4,747,754	8,402,525	415,992	16,349,660	1,161,598					20,731,796	26,329,775	8,095,074
Income Tax Expense (Benefit)	(380,706)	260,848	7,368,835		93,335								(7,248,977)	93,335
Net (loss) income	(1,191,846)	19,362,979	5,061,886	4,747,754	8,309,190	415,992	16,349,660	1,161,598	3,588,052	867,620	2,834,293	805,109	24,409,770	23,569,116	7,929,629
Less: Net loss (income) attributable to non-controlling interests	15,960	(3,630,318)	56,847	(13,492)	(36,891)	(31,671)	(2,588,884)	(9,878)	(13,693)	(83,797)	(23,409)	(44,546)	3,571,003	2,667,324	165,445
Net (loss) income attributable to common stockholders	$ (1,175,886)	$ 15,732,661	$ 5,118,733	$ 4,734,262	$ 8,272,299	$ 384,321	$ 13,760,776	$ 1,151,720	$ 3,574,359	$ 783,823	$ 2,810,884	$ 760,563	$ 27,980,773	$ 26,236,440	$ 8,095,074
Earnings per common share (basic and diluted) (in dollars per share)	$ (0.11)	$ 1.54	$ 0.50	$ 0.46	$ 0.80	$ 0.04	$ 1.28	$ 0.11	$ 0.33	$ 0.07	$ 0.26	$ 0.07	$ 2.38	$ 2.22	$ 0.74
Weighted average number of common shares outstanding (basic and diluted) (in shares)	10,247,477	10,247,477	10,247,477	10,247,477	10,310,149	10,538,735	10,768,001	10,768,001	10,768,001	10,768,001	10,768,001	10,769,498	10,247,477	10,594,807	10,768,370
Common Stock, Dividends, Per Share, Declared	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.18	$ 0.07	$ 0.12	$ 0.05	$ 0.05	$ 0.05	$ 0.32	$ 0.41	$ 0.27
Gain on Foreclosure of Loan									$ 207,734			$ 257,020			$ 464,754

Financial Statement Schedule 74

Financial Statement Schedule III - Real Estate and Accumulated Depreciation (Details Textual) - USD ($)	12 Months Ended					36 Months Ended	48 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2013
SEC Schedule III, Real Estate Accumulated Depreciation, Other Deductions	$ 949,793	$ 5,131,036	$ 5,674,980
SEC Schedule III, Real Estate Accumulated Depreciation	3,151,427	$ 2,915,596	$ 6,075,287					$ 9,599,719
Commercial Residential Land Under Development (TSV) South Lake Tahoe, California [Member]
SEC Schedule III, Real Estate Accumulated Depreciation, Other Deductions	6,066,000
Office Condominium Complex, Roseville, California [Member]
SEC Schedule III, Real Estate, Write-down or Reserve, Amount				$ 3,712,707	$ 3,712,707
75 Residential Lost, Auburn, California [Member]
SEC Schedule III, Real Estate, Write-down or Reserve, Amount							$ 9,904,826
Undeveloped, Industrial Land, San Jose, California [Member]
SEC Schedule III, Real Estate, Write-down or Reserve, Amount						$ 1,067,592
Golf Course, Auburn, California [Member]
SEC Schedule III, Real Estate Accumulated Depreciation	267,716
Real Estate Properties [Member]
SEC Schedule III, Real Estate, Federal Income Tax Basis	$ 148,877,000

Financial Statement Schedule 75

Financial Statement Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Carrying value	$ 113,123,398
Accumulated depreciation	(3,151,427)	$ (2,915,596)	$ (6,075,287)	$ (9,599,719)
Sales	(66,183,589)	$ (31,099,086)	$ (1,529,227)
Residential Land Under Development (ZRV II), South Lake Tahoe, California [Member]
Encumbrances
Initial cost	2,032,963
Capitalized costs	1,378,689
Carrying value	3,411,652
Commercial Residential Land Under Development (TSV) South Lake Tahoe, California [Member]
Encumbrances
Initial cost	10,822,156
Capitalized costs	18,152,652
Carrying value	28,974,808
Retail Complex South Lake Tahoe, California [Member]
Encumbrances	13,634,889
Initial cost	6,409,617
Capitalized costs	11,815,027
Carrying value	16,829,995
Accumulated depreciation	$ (1,394,649)
Retail Complex South Lake Tahoe, California [Member] | Minimum [Member]
Depreciable lives (Year)	5 years
Retail Complex South Lake Tahoe, California [Member] | Maximum [Member]
Depreciable lives (Year)	3 years
Commercial Residential Land Under Construction (Zalanta), South Lake Tahoe, California [Member]
Encumbrances	$ 20,213,560
Initial cost	5,016,443
Capitalized costs	29,788,810
Carrying value	34,805,253
Assisted Living Facility, Bensalem, Pennsylvania [Member]
Encumbrances
Initial cost	5,018,166
Capitalized costs	1,177,859
Carrying value	5,820,709
Accumulated depreciation	$ (375,316)
Date acquired	Dec. 12, 2014
Assisted Living Facility, Bensalem, Pennsylvania [Member] | Minimum [Member]
Depreciable lives (Year)	5 years
Assisted Living Facility, Bensalem, Pennsylvania [Member] | Maximum [Member]
Depreciable lives (Year)	27 years 182 days
Office Condominium Complex, Roseville, California [Member]
Encumbrances
Initial cost	8,569,286
Capitalized costs	321,923
Carrying value	3,447,418
Accumulated depreciation	$ (635,414)
Date acquired	Sep. 26, 2008
Sales	$ (1,095,670)
Impairment writedowns	$ (3,712,707)
Office Condominium Complex, Roseville, California [Member] | Minimum [Member]
Depreciable lives (Year)	2 years
Office Condominium Complex, Roseville, California [Member] | Maximum [Member]
Depreciable lives (Year)	39 years
73 Residential Lots, Auburn, California [Member]
Encumbrances
Initial cost	13,746,625
Capitalized costs	36,745
Carrying value	$ 3,781,867
Date acquired	Sep. 27, 2007
Sales	$ (96,677)
Impairment writedowns	(9,904,826)
12 Condominium & 3 Commercial Units, Tacoma, Washington [Member]
Encumbrances
Initial cost	2,486,400
Capitalized costs	84,909
Carrying value	2,311,792
Accumulated depreciation	$ (259,517)
Date acquired	Jul. 8, 2011
12 Condominium & 3 Commercial Units, Tacoma, Washington [Member] | Minimum [Member]
Depreciable lives (Year)	27 years 182 days
12 Condominium & 3 Commercial Units, Tacoma, Washington [Member] | Maximum [Member]
Depreciable lives (Year)	39 years
Marina & Boat Club with 179 Boat Slips, Isleton, California [Member]
Encumbrances
Initial cost	2,002,525
Capitalized costs	698,218
Carrying value	2,555,306
Accumulated depreciation	$ (145,437)
Date acquired	Jan. 29, 2013
Marina & Boat Club with 179 Boat Slips, Isleton, California [Member] | Minimum [Member]
Depreciable lives (Year)	5 years
Marina & Boat Club with 179 Boat Slips, Isleton, California [Member] | Maximum [Member]
Depreciable lives (Year)	15 years
Undeveloped, Industrial Land, San Jose, California [Member]
Encumbrances
Initial cost	3,025,992
Capitalized costs	69,181
Carrying value	$ 2,027,581
Date acquired	Dec. 27, 2002
Impairment writedowns	$ (1,067,592)
Golf Course, Auburn, California [Member]
Encumbrances
Initial cost	1,796,254
Capitalized costs	174,184
Carrying value	1,970,438
Accumulated depreciation
Date acquired	Jun. 20, 2009
Unimproved Residential and Commercial Land, Bethel Island, California [Member]
Encumbrances
Initial cost	2,336,640
Capitalized costs	675
Carrying value	$ 2,335,448
Date acquired	Mar. 11, 2014
Sales	$ (1,867)
Miscellaneous Real Estate [Member]
Encumbrances
Carrying value	4,851,131
Accumulated depreciation	$ (341,094)

Financial Statement Schedule 76

Financial Statement Schedule III - Real Estate and Accumulated Depreciation - Changes in Real Estate Held for Sale and Investment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Balance at beginning of period	$ 153,838,412	$ 163,016,805	$ 135,315,964
Acquisitions through foreclosure	700,800		9,572,406
Investments in real estate properties	29,061,735	25,274,125	21,866,298
Amortization of deferred financing costs capitalized to construction project	119,471	207,347	120,952
Subtotal	183,720,418	188,498,277	166,875,620
Cost of real estate properties sold	66,183,589	31,099,086	1,529,227
Impairment of Real Estate	3,227,807	1,589,434	179,040
Depreciation of properties held for investment	1,185,624	1,971,345	2,150,548
Balance at end of period	$ 113,123,398	$ 153,838,412	$ 163,016,805

Financial Statement Schedule 77

Financial Statement Schedule III - Real Estate and Accumulated Depreciation - Changes in Accumulated Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Balance at beginning of period	$ 2,915,596	$ 6,075,287	$ 9,599,719
Depreciation of properties held for investment	1,185,624	1,971,345	2,150,548
Subtotal	4,101,220	8,046,632	11,750,267
SEC Schedule III, Real Estate Accumulated Depreciation, Other Deductions	949,793	5,131,036	5,674,980
Balance at end of period	$ 3,151,427	$ 2,915,596	$ 6,075,287

Financial Statement Schedule 78

Financial Statement Schedule IV - Mortgage Loans on Real Estate (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)
Percent of Total Loans	3.00%
Changes in Mortgage Loans on Real Estate [Member]
Mortgage Loans on Real Estate, Federal Income Tax Basis	$ 129,682,000

Financial Statement Schedule 79

Financial Statement Schedule IV - Mortgage Loans on Real Estate - Mortgage Loans on Real Estate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest Rate
Carrying Amount of Mortgages	$ 129,682,311	$ 106,743,807	$ 68,033,511	$ 58,796,293
Principal Amount of Loans Subject to Delinquent Principal	13,341,827
Principal Amount of Loans Subject to Delinquent Payments	4,883,866
Maturity Date Current to December 2019 [Member] | Commercial [Member]
Carrying Amount of Mortgages	102,442,111
Principal Amount of Loans Subject to Delinquent Principal	3,675,000
Principal Amount of Loans Subject to Delinquent Payments
Maturity Date Current to December 2019 [Member] | Commercial [Member] | Minimum [Member]
Interest Rate	6.99%
Maturity Date Current to December 2019 [Member] | Commercial [Member] | Maximum [Member]
Interest Rate	10.00%
Maturity Date Current to December 2019 [Member] | Mortgage Loans Between $1,000,001 to $5,000,000 [Member]
Carrying Amount of Mortgages	$ 81,894,561
Principal Amount of Loans Subject to Delinquent Principal	12,650,792
Principal Amount of Loans Subject to Delinquent Payments	$ 4,655,517
Maturity Date Current to December 2019 [Member] | Mortgage Loans Between $1,000,001 to $5,000,000 [Member] | Minimum [Member]
Interest Rate	4.00%
Maturity Date Current to December 2019 [Member] | Mortgage Loans Between $1,000,001 to $5,000,000 [Member] | Maximum [Member]
Interest Rate	11.00%
Maturity Date Current to March 2028 [Member] | Loans Positioned First [Member]
Carrying Amount of Mortgages	$ 126,873,673
Principal Amount of Loans Subject to Delinquent Principal	12,850,792
Principal Amount of Loans Subject to Delinquent Payments	$ 4,883,866
Maturity Date Current to March 2028 [Member] | Minimum [Member] | Loans Positioned First [Member]
Interest Rate	4.00%
Maturity Date Current to March 2028 [Member] | Maximum [Member] | Loans Positioned First [Member]
Interest Rate	11.00%
Maturity Date Current to March 2028 [Member] | Residential [Member]
Carrying Amount of Mortgages	$ 19,001,677
Principal Amount of Loans Subject to Delinquent Principal	9,666,827
Principal Amount of Loans Subject to Delinquent Payments	$ 4,883,866
Maturity Date Current to March 2028 [Member] | Residential [Member] | Minimum [Member]
Interest Rate	7.50%
Maturity Date Current to March 2028 [Member] | Residential [Member] | Maximum [Member]
Interest Rate	11.00%
Maturity Date Current to March 2028 [Member] | Mortgage Loans Between $0 and $500,000 [Member]
Carrying Amount of Mortgages	$ 1,944,637
Principal Amount of Loans Subject to Delinquent Payments	$ 228,349
Maturity Date Current to March 2028 [Member] | Mortgage Loans Between $0 and $500,000 [Member] | Minimum [Member]
Interest Rate	7.50%
Maturity Date Current to March 2028 [Member] | Mortgage Loans Between $0 and $500,000 [Member] | Maximum [Member]
Interest Rate	8.50%
Maturity Date April 2017 to January 2019 [Member] | Land Property [Member]
Carrying Amount of Mortgages	$ 8,238,523
Maturity Date April 2017 to January 2019 [Member] | Land Property [Member] | Minimum [Member]
Interest Rate	4.00%
Maturity Date April 2017 to January 2019 [Member] | Land Property [Member] | Maximum [Member]
Interest Rate	9.00%
Maturity Date, February 2016 to March 2028 [Member] | Mortgage Loans Between $0 and $500,000 [Member]
Principal Amount of Loans Subject to Delinquent Principal	$ 691,035
Maturity Date January 2017 to December 2017 [Member] | Mortgage Loans Between $500,001 and $1,000,000 [Member]
Carrying Amount of Mortgages	$ 3,671,909
Maturity Date January 2017 to December 2017 [Member] | Mortgage Loans Between $500,001 and $1,000,000 [Member] | Minimum [Member]
Interest Rate	7.50%
Maturity Date January 2017 to December 2017 [Member] | Mortgage Loans Between $500,001 and $1,000,000 [Member] | Maximum [Member]
Interest Rate	8.50%
Maturity Date, March 2016 to February 2018 [Member] | Mortgage Loans Between $500,001 and $1,000,000 [Member]
Principal Amount of Loans Subject to Delinquent Principal
Maturity Dates December 2017 to July 2019 [Member] | Mortgage Loans Over $5,000,000 [Member]
Carrying Amount of Mortgages	42,171,204
Principal Amount of Loans Subject to Delinquent Principal
Principal Amount of Loans Subject to Delinquent Payments
Maturity Dates December 2017 to July 2019 [Member] | Mortgage Loans Over $5,000,000 [Member] | Minimum [Member]
Interest Rate	6.99%
Maturity Dates December 2017 to July 2019 [Member] | Mortgage Loans Over $5,000,000 [Member] | Maximum [Member]
Interest Rate	7.75%
Maturity Dates Current to July 2017 [Member] | Loans Positioned Second [Member]
Carrying Amount of Mortgages	$ 2,808,638
Principal Amount of Loans Subject to Delinquent Principal	491,035
Principal Amount of Loans Subject to Delinquent Payments
Maturity Dates Current to July 2017 [Member] | Minimum [Member] | Loans Positioned Second [Member]
Interest Rate	7.75%
Maturity Dates Current to July 2017 [Member] | Maximum [Member] | Loans Positioned Second [Member]
Interest Rate	8.25%

Financial Statement Schedule 80

Financial Statement Schedule IV - Mortgage Loans on Real Estate - Changes in Mortgage Loans on Real Estate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Balance at beginning of period	$ 106,743,807	$ 68,033,511	$ 58,796,293
New loans	79,867,140	73,389,645	44,505,577
Advances moved to principal of loans			122,004
Subtotal	186,610,947	141,959,972	103,423,874
Collection of principal	55,849,884	35,216,165	27,718,917
Foreclosures	1,078,752		7,671,446
Balance at end of period	$ 129,682,311	106,743,807	$ 68,033,511
Discount accretion		$ 536,816

Financial Statement Schedule 81

Financial Statement Schedule IV - Mortgage Loans on Real Estate - Loans Which Exceed Three Percent of the Total Loans (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Interest Rate
Prior Liens	$ 0
Face Amount of Mortgages	87,779,400
Carrying Amount of Mortgages	69,210,854
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 4,655,517
Shopping Center, Ontario, California [Member] | Maturity Date, January 1, 2018 [Member]
Interest Rate	6.99%
Prior Liens	$ 0
Face Amount of Mortgages	10,000,000
Carrying Amount of Mortgages	8,400,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Hotel, Novi, Michigan [Member] | Maturity Date, December 31, 2017 [Member]
Interest Rate	7.75%
Prior Liens	$ 0
Face Amount of Mortgages	8,835,000
Carrying Amount of Mortgages	7,917,143
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Office Building, Dublin, California [Member] | Maturity Date, January 1, 2018 [Member]
Interest Rate	7.50%
Prior Liens	$ 0
Face Amount of Mortgages	7,000,000
Carrying Amount of Mortgages	7,000,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Office Building, Escondido, California [Member] | Maturity Date, November 15, 2018 [Member]
Interest Rate	7.75%
Prior Liens	$ 0
Face Amount of Mortgages	6,674,400
Carrying Amount of Mortgages	6,574,400
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Apartment Building, Oxnard, California [Member] | Maturity Date, April 1, 2018 [Member]
Interest Rate	7.25%
Prior Liens	$ 0
Face Amount of Mortgages	14,900,000
Carrying Amount of Mortgages	6,252,037
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Storage Facility, Benbrook, Texas [Member] | Maturity Date May 15, 2018 [Member]
Interest Rate	7.75%
Prior Liens	$ 0
Face Amount of Mortgages	6,625,000
Carrying Amount of Mortgages	6,027,624
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Office Building, Redwood City, California [Member] | Maturity Date, November 15, 2017 [Member]
Interest Rate	8.00%
Prior Liens	$ 0
Face Amount of Mortgages	4,860,000
Carrying Amount of Mortgages	4,860,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Retail Building, Antioch, California [Member] | Maturity Date, October 15, 2018 [Member]
Interest Rate	8.00%
Prior Liens	$ 0
Face Amount of Mortgages	7,000,000
Carrying Amount of Mortgages	4,724,635
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Condominiums, Phoenix, Arizona [Member] | Maturity Date, July 1, 2009 [Member]
Interest Rate	11.00%
Prior Liens	$ 0
Face Amount of Mortgages	7,535,000
Carrying Amount of Mortgages	4,655,517
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 4,655,517
Unimproved Land, Fairfield, California [Member] | Maturity Date, April 15, 2017 [Member]
Interest Rate	9.00%
Prior Liens	$ 0
Face Amount of Mortgages	4,500,000
Carrying Amount of Mortgages	4,500,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Office Building, San Francisco, California [Member] | Maturity Date, November 1, 2017 [Member]
Interest Rate	7.75%
Prior Liens	$ 0
Face Amount of Mortgages	4,250,000
Carrying Amount of Mortgages	4,250,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Ofiice Building, Chula Vista, California [Member] | Maturity Date, November 1, 2018 [Member]
Interest Rate	7.50%
Prior Liens	$ 0
Face Amount of Mortgages	5,600,000
Carrying Amount of Mortgages	4,049,498
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0