Owens Realty Mortgage (ORM) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
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)		10,247,477
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 601,734	$ 434,243
Restricted cash	6,500,000	6,500,000
Loans, net of allowance for losses of $2,636,859 in 2017 and $2,706,822 in 2016	134,068,065	126,975,489
Interest and other receivables	2,166,239	2,164,335
Other assets, net of accumulated depreciation and amortization of $266,097 in 2017 and $251,729 in 2016	857,489	803,676
Deferred financing costs, net of accumulated amortization of $144,570 in 2017 and $107,744 in 2016	135,029	171,855
Deferred tax assets, net	7,259,013	7,248,977
Investment in limited liability company	2,184,474	2,140,482
Real estate held for sale	81,502,043	75,843,635
Real estate held for investment, net of accumulated depreciation of $3,363,333 in 2017 and $3,151,427 in 2016	35,526,689	37,279,763
Total assets	270,800,775	259,562,455
LIABILITIES:
Dividends payable	819,798	1,402,496
Due to Manager	372,532	360,627
Accounts payable and accrued liabilities	2,511,774	3,699,859
Deferred gains on sales of real estate	209,662	209,662
Lines of credit payable	14,164,000	4,976,000
Notes and loans payable on real estate	37,823,252	33,385,934
Total liabilities	55,901,018	44,034,578
Commitments and Contingencies (Note 13)
EQUITY:
Preferred stock, $.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding at March 31, 2017 and December 31, 2016
Common stock, $.01 par value per share, 50,000,000 shares authorized, 11,198,119 shares issued, 10,247,477 shares outstanding at March 31, 2017 and December 31, 2016	111,981	111,981
Additional paid-in capital	182,437,522	182,437,522
Treasury stock, at cost – 950,642 shares at March 31, 2017 and December 31, 2016	(12,852,058)	(12,852,058)
Retained earnings	45,202,312	45,830,432
Total stockholders’ equity	214,899,757	215,527,877
Total liabilities and equity	$ 270,800,775	$ 259,562,455

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Loans, allowance for losses	$ 2,636,859	$ 2,706,822
Other assets, accumulated depreciation and amortization	266,097	251,729
Deferred financing costs, accumulated amortization	144,570	107,744
Real estate held for investment, accumulated depreciation	$ 3,363,333	$ 3,151,427
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 (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Interest income on loans	$ 2,547,042	$ 2,043,008
Rental and other income from real estate properties	946,371	2,139,985
Income from investment in limited liability company	43,992	42,624
Total revenues	3,537,405	4,225,617
Expenses:
Management fees to Manager	947,514	765,515
Servicing fees to Manager	86,138	69,592
General and administrative expense	483,814	553,417
Rental and other expenses on real estate properties	1,203,319	1,790,379
Depreciation and amortization	309,960	343,649
Interest expense	286,801	683,051
Provision for loan losses	38,036	111,075
Total expenses	3,355,582	4,316,678
Operating income (loss)	181,823	(91,061)
(Loss) gain on sales of real estate, net	(181)	4,838,815
Net income before income tax expense	181,642	4,747,754
Income tax benefit	10,036
Net income	191,678	4,747,754
Less: Net income attributable to non-controlling interests		(13,492)
Net income attributable to common stockholders	$ 191,678	$ 4,734,262
Per common share data:
Basic and diluted earnings per common share (in dollars per share)	$ 0.02	$ 0.46
Basic and diluted weighted average number of common shares outstanding (in shares)	10,247,477	10,247,477
Dividends declared per share of common stock (in dollars per share)	$ 0.08	$ 0.08

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balances (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
Net income				4,734,262	4,734,262	13,492	4,747,754
Dividends declared				(819,798)	(819,798)		(819,798)
Distributions to non-controlling interests						(5,132)	(5,132)
Balances (in shares) at Mar. 31, 2016	11,198,119		(950,642)
Balances at Mar. 31, 2016	$ 111,981	182,437,522	$ (12,852,058)	29,197,017	198,894,462	4,537,209	203,431,671
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
Net income				191,678	191,678		191,678
Dividends declared				(819,798)	(819,798)		(819,798)
Balances (in shares) at Mar. 31, 2017	11,198,119		(950,642)
Balances at Mar. 31, 2017	$ 111,981	$ 182,437,522	$ (12,852,058)	$ 45,202,312	$ 214,899,757		$ 214,899,757

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 191,678	$ 4,747,754
Adjustments to reconcile net income to net cash used in operating activities:
Loss (gain) on sales of real estate, net	181	(4,838,815)
Deferred income tax benefit	(10,036)
Income from investment in limited liability company	(43,992)	(42,624)
Provision for loan losses	38,036	111,075
Depreciation and amortization	309,960	343,649
Amortization of deferred financing costs	45,902	107,022
Changes in operating assets and liabilities:
Interest and other receivables	(1,904)	(342,480)
Other assets	(57,224)	(100,645)
Accounts payable and accrued liabilities	(2,385,879)	(1,445,657)
Due to Manager	11,905	(90,621)
Net cash used in operating activities	(1,901,373)	(1,551,342)
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal collected on loans	8,603,121	18,028,938
Investment in loans	(15,733,733)	(22,964,470)
Investment in real estate properties	(3,825,224)	(2,832,188)
Net proceeds from disposition of real estate properties	871,856	6,478,811
Purchases of vehicles and equipment	(10,957)	(23,173)
Transfer to restricted cash, net		(104,050)
Net cash used in investing activities	(10,094,937)	(1,416,132)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances on notes payable	4,475,120	1,562,861
Repayments on notes payable	(96,823)	(166,971)
Advances on lines of credit	14,918,000	32,128,000
Repayments on lines of credit	(5,730,000)	(26,191,000)
Payment of deferred financing costs		(254,582)
Distributions to non-controlling interests		(5,132)
Dividends paid (including tax payments on behalf of shareholders)	(1,402,496)	(2,133,455)
Net cash provided by financing activities	12,163,801	4,939,721
Net increase in cash and cash equivalents	167,491	1,972,247
Cash and cash equivalents at beginning of period	434,243	1,255,842
Cash and cash equivalents at end of period	601,734	3,228,089
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest (excluding amounts capitalized)	215,585	502,649
Cash paid during the period for interest that was capitalized	267,580	188,691
Supplemental Disclosure of Non-Cash Activity
Amortization of deferred financing costs capitalized to construction project	(49,945)	(36,230)
Change in capital expenditures financed through accounts payable	(1,197,794)	(3,503,363)
Dividends declared but not paid	$ (819,798)	$ (819,798)

Note 1 - Organization

Note 1 - Organization	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 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. The Company has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, December 31, 2012. 100% 90%

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 In the opinion of the management of the Company, the accompanying unaudited financial statements contain all adjustments, consisting of normal, recurring adjustments, necessary to present fairly the financial information included therein. Certain information and footnote disclosures presented in the annual consolidated financial statements are not included in these interim financial statements. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Form 10 December 31, 2016 March 15, 2017. three March 31, 2017 December 31, 2017. 10 Basis of Presentation Princip les of Consolidation The consolidated financial statements include the accounts of the Company, its wholly-owned taxable REIT subsidiaries (“TRSs”) and its majority- and wholly-owned limited liability companies. The Company is in the business of providing mortgage lending services and manages its business as one Certain reclassifications, not affecting previously reported net income or stockholders’ equity, have been made to the previously issued consolidated financial statements to conform to the current period presentation. Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates are inherently imprecise and actual results could differ significantly from such estimates. Recently Issued Accounting Pronouncements In January 2017, 2017 01, 805) 2017 01. 2017 01 December 15, 2017, 2017 01 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 May 2014, 2014 09, 606),” 2014 09. 2014 09 2014 09’s one 2015 14, first December 15, 2017, December 15, 2016. 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 Recently Adopted Accounting Pronouncements In March 2016, 2016 07, 323) 2016 07. 2016 07 323 2016 07 first 2017 Significant Accounting Policies The significant accounting policies used in the preparation of these interim consolidated financial statements are disclosed in the Company’s consolidated financial statements for the year ended December 31, 2016 2016 10 March 31, 2017.

Note 3 - Loans and Allowance fo

Note 3 - Loans and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Allowance for Credit Losses [Text Block]	NOTE 3 – 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 9). 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 a 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 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 reserve 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 The following tables show the changes in the allowance for loan losses by portfolio segment for the three March 31, 2017 2016 March 31, 2017 December 31, 2016 2017 Commercial Residential Land Total Allowance for loan losses: Three Months Ended March 31, 2017 Beginning balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Charge-offs — (107,999 ) — (107,999 ) Provision (Reversal) 69,577 (13,964 ) (17,577 ) 38,036 Ending balance $ 934,548 $ 1,209,355 $ 492,956 $ 2,636,859 March 31 , 201 7 Ending balance: individually evaluated for impairment $ — $ 624,713 $ — $ 624,713 Ending balance: collectively evaluated for impairment 934,548 584,642 492,956 2,012,146 Ending balance $ 934,548 $ 1,209,355 $ 492,956 $ 2,636,859 Loans: Ending balance: individually evaluated for impairment $ — $ 4,177,854 $ — $ 4,177,854 Ending balance: collectively evaluated for impairment 110,682,477 13,606,070 8,238,523 132,527,070 Ending balance $ 110,682,477 $ 17,783,924 $ 8,238,523 $ 136,704,924 2016 Commercial Residential Land Total Allowance for loan losses: Three Months Ended March 31, 2016 Beginning balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Provision (Reversal) (3 ) 48,335 62,743 111,075 Ending balance $ 1,140,527 $ 503,922 $ 309,072 $ 1,953,521 December 31 , 201 6 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: 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 Ending balance $ 102,442,111 $ 19,001,677 $ 8,238,523 $ 129,682,311 The following tables show an aging analysis of the loan portfolio by the time monthly payments are past due as of March 31, 2017 December 31, 2016. 90 March 31, 2017 December 31, 2016. March 31, 2017 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 $ — $ — $ — $ — $ 110,682,477 $ 110,682,477 Residential — — 4,177,854 4,177,854 13,606,070— 17,783,924 Land — — — — 8,238,523 8,238,523 $ — $ — $ 4,177,854 $ 4,177,854 $ 132,527,070 $ 136,704,924 The above table as of March 31, 2017 $5,227,000 ($1,175,000 90 $4,052,000 $3,025,000 90 $760,000 60 89 $267,000 30 59 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 $ — $ 4,883,866 $ 7,947,113 $ 121,735,198 $ 129,682,311 The above table as of 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 three March 31, 2017: As of March 31, 201 7 Three Months Ended March 31, 201 7 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — $ — Residential 224,880 224,880 — 226,042 4,982 Land — — — — — $ 224,880 $ 224,880 $ 226,042 $ 4,982 With an allowance recorded: Commercial $ — $ — $ — $ — $ — Residential 4,443,169 3,952,974 624,713 4,673,655 — Land — — — — — $ 4,443,169 3,952,974 $ 624,713 $ 4,673,655 $ — Total: Commercial $ — $ — $ — $ — $ — Residential 4,668,049 4,177,854 624,713 4,899,697 4,982 Land — — — — — $ 4,668,049 $ 4,177,854 $ 624,713 $ 4,899,697 $ 4,982 The following table shows information related to impaired loans as of December 31, 2016 three March 31, 2016: As of December 31, 201 6 Three Months Ended March 31, 201 6 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 488,699 $ — Residential 228,349 228,349 — 7,702,080 5,247 Land — — — — — $ 228,349 $ 228,349 $ 8,190,779 $ 5,247 With an allowance recorded: Commercial $ — $ — $ — $ 1,171,207 $ — Residential 5,145,712 4,655,517 732,712 — — Land — — — — — $ 5,145,712 4,655,517 $ 732,712 $ 1,171,207 $ — Total: Commercial Commercial Real Estate $ — $ — $ — $ 1,659,906 $ — Residential 5,374,061 4,883,866 732,712 7,702,080 5,247 Land — — — — — $ 5,374,061 $ 4,883,866 $ 732,712 $ 9,361,986 $ 5,247 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 $625,000 $733,000 $4,668,000 $5,374,000 March 31, 2017 December 31, 2016, not No loans were modified as troubled debt restructurings during the quarters ended March 31, 2017 2016, nor twelve three March 31, 2017 2016.

Note 4 - Investment in Limited

Note 4 - Investment in Limited Liability Company	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 4 During 2008, 1850 (“1850”), July 2008, two two 1850. 1850 The Company received no 1850 three March 31, 2017 2016. 1850 $44,000 $43,000 three March 31, 2017 2016,

Note 5 - Real Estate Held for S

Note 5 - Real Estate Held for Sale	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Real Estate Owned [Text Block]	NOTE 5 Real estate properties held for sale as of March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Land (including land under development) $ 78,068,730 $ 73,140,659 Golf course 1,970,437 1,970,437 Marina 1,462,876 — Office — 732,539 $ 81,502,043 $ 75,843,635 Transfers During the three March 31, 2017, one $1,463,000 During the three March 31, 2016, one $4,183,000 September 2016. Impairment Losses No three March 31, 2017 2016. Sales During the three March 31, 2017, one one $872,000, In April 2017 the approximately 8.0 $42,300,000, $13,200,000 14). During the three March 31, 2016, one one $6,479,000, $4,839,000.

Note 6 - Real Estate Held for I

Note 6 - Real Estate Held for Investment	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Real Estate Held for Investment Disclosure [Text Block]	NOTE 6 Real estate held for investment as of March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Retail $ 16,646,653 $ 16,829,995 Land 4,235,465 4,234,806 Residential 2,393,328 2,405,439 Assisted care 5,786,246 5,820,709 Office 3,925,360 3,962,869 Marina 2,539,637 4,025,945 $ 35,526,689 $ 37,279,763 The balances of land and the major classes of depreciable property for real estate held for investment as of March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Land and land improvements $ 10,404,165 $ 11,520,339 Buildings and improvements 28,485,857 28,910,851 38,890,022 40,431,190 Less: Accumulated depreciation (3,363,333 ) (3,151,427 ) $ 35,526,689 $ 37,279,763 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 $296,000 $327,000 three March 31, 2017 2016, Certain of the Company’s real estate properties held for sale and investment are leased to tenants one seven tenant five March 31, 2017 Twelve months ending March 31: 2018 $ 2,333,552 2019 1,918,726 2020 1,371,521 2021 792,792 2022 691,599 Thereafter (through 2024) 862,936 Total $ 7,971,126

Note 7 - Lines of Credit Payabl

Note 7 - Lines of Credit Payable	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 7 The Company borrows funds under the revolving California Bank & Trust (“CB&T”) Line of Credit and, until its termination in September 2016, March 31, 2017 December 31, 2016, As of March 31, 201 7 As of December 31, 201 6 Outstanding Balance Total Commitment Outstanding Balance Total Commitment CB&T Line of Credit $ 14,164,000 $ 44,120,000 $ 4,976,000 $ 22,625,000 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. March 2017, $5,000,000 $55,000,000. Such borrowings bear interest payable monthly at the prime rate of interest established by CB&T from time-to-time plus one (.25%) (4.25% March 31, 2017). 2.00%. $100,000 $177,000 March 31, 2017). $255,000 $160,000 $188,000 three March 31, 2017 2016, $37,000 $34,000, Borrowings are secured by certain assets of the Company. These collateral assets will include the grant to the lenders of first March 31, 2017, Loans: March 31 , 201 7 Commercial $ 63,853,317 Residential 4,038,904 Total $ 67,892,221 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 March 31, 2017. 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 $109,000 three March 31, 2016 $19,000

Note 8 - Notes and Loans Payabl

Note 8 - Notes and Loans Payable on Real Estate	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Mortgage Notes Payable Disclosure [Text Block]	NOTE 8 The Company had the following notes and loans payable outstanding as of March 31, 2017 December 31, 2016: March 31, 2017 Interest Rate December 31, 2016 Interest Rate Payment Terms/ Frequency Maturity Date Tahoe Stateline Venture, LLC Loan Payable $ 13,538,066 3.47 % 13,634,889 3.47 % Amortizing Monthly January 2021 Zalanta Construction Loan Payable 24,688,680 5.50 % 20,213,560 5.25 % Interest Only Monthly August 2018 Principal amount $ 38,226,746 $ 33,848,449 Less unamortized deferred financing costs (403,494 ) (462,515 ) Notes and loans payable, net $ 37,823,252 $ 33,385,934 The following table shows maturities by year on these notes and loans payable as of March 31, 2017: Twelve months ending March 31: 2018 $ 24,395,789 2019 1,098,423 2020 424,190 2021 12,308,344 2022 — $ 38,226,746 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. three March 31, 2017 2016, $127,000 $130,000, $9,000 $9,000, $137,000 $146,000 March 31, 2017 December 31, 2016, 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 March 31, 2017. 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%) March 31, 2017 5.5%. 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. three March 31, 2017, $50,000 three March 31, 2017, $290,000 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 March 31, 2017.

Note 9 - Transactions with Affi

Note 9 - Transactions with Affiliates	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 9 In consideration of the management services rendered to the Company pursuant to the management agreement between the Company and OFG (the “Management Agreement”), OFG is entitled to receive from the Company a management fee payable monthly, subject to a maximum of 2.75% All of the Company’s loans are serviced by OFG, in consideration for which OFG receives a monthly fee, which, when added to all other fees paid in connection with the servicing of a particular loan, does not exceed the lesser of the customary, competitive fee paid in the community where the loan is placed for the provision of such mortgage services on that type of loan, or up to 0.25% OFG, at its sole discretion may, may 1 /12 12 $948,000 $766,000 three March 31, 2017 2016, $86,000 $70,000 three March 31, 2017 2016, March 31, 2017 December 31, 2016, $342,000 $324,000, During the three March 31, 2017 2016 December 31, 2016, Pursuant to the charter, OFG receives all late payment charges from borrowers on loans owned by the Company. The amounts paid to or collected by OFG for such charges totaled approximately $15,000 $3,000 three March 31, 2017 2016, $4,000 $4,000 three March 31, 2017 2016, OFG originates all loans the Company invests in and receives loan origination and extension fees from borrowers. During the three March 31, 2017 2016, $528,000 $718,000, $26,655,000 $35,150,000, OFG is reimbursed by the Company for the actual cost of goods, services and materials used for or by the Company and paid by OFG and the salary and related salary expense of OFG’s non-management and non-supervisory personnel performing services for the Company which could be performed by independent parties (subject to certain limitations in the Management Agreement). The amounts reimbursed to OFG by the Company were $93,000 $114,000 three March 31, 2017 2016, $31,000 $36,000 March 31, 2017 December 31, 2016, no three March 31, 2017 2016. The Company paid Investor’s Yield, Inc. (a wholly owned subsidiary of OFG) less than $1,000 three March 31, 2017 2016.

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 10 Dividends On March 16, 2017, $0.08 March 31, 2017. April 13, 2017 $819,798. Stock Repurchase Program On December 11, 2015, 10b5 1 “2016 $7.5 2016 2016 April 1, 2016 2016 March 31, 2017.

Note 11 - Restricted Cash

Note 11 - Restricted Cash	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Contingencies Disclosure [Text Block]	NOTE 11 Contingency Reserves In accordance with the charter, the Company is required to maintain cash, cash equivalents and marketable securities as contingency reserves in an aggregate amount of 1 1/2% The contingency reserves required per the charter as of March 31, 2017 December 31, 2016 $3,726,000 $3,738,000, $6,500,000 March 31, 2017 December 31, 2016

Note 12 - Fair Value

Note 12 - Fair Value	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 12 The Company discloses fair value of 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 nonrecurring basis. There were no Impaired Loans The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan may 310 10 35. third March 31, 2017 December 31, 2016, third two. 820, 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) 3 The following table presents information about the Company’s assets and liabilities measured at fair value on a nonrecurring basis as of March 31, 2017 December 31, 2016: Fair Value Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2017 Nonrecurring: Impaired loans: Residential $ 3,818,456 $ — $ — $ 3,818,456 Total $ 3,818,456 $ — $ — $ 3,818,456 December 31, 2016 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 The provision for loan losses based on the fair value of loan collateral less estimated selling costs for the impaired loans above totaled approximately $0 $9,000 three March 31, 2017 2016, No three March 31, 2017 2016, There were no March 31, 2017 December 31, 2016. During the three March 31, 2017 2016, 1 2. The following table presents quantitative information about Level 3 March 31, 2017 December 31, 2016: March 31, 2017 Description Fair Value Valuation Technique Significant Unobservable Inputs Input/Range Weighted Average Impaired Loans: Commercial $ 3,818,456 Appraisal Comparable Sales Adjustment (4.6) % to 4.2% N/A 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 Where only one one one The approximate carrying amounts and estimated fair values of financial instruments at March 31, 2017 December 31, 2016 Fair Value Measurements at March 31, 2017 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 602,000 $ 602,000 $ — $ — $ 602,000 Restricted cash 6,500,000 6,500,000 — — 6,500,000 Loans, net 134,068,000 — — 133,748,000 133,748,000 Investment in limited liability company 2,184,000 — — 2,650,000 2,650,000 Accrued interest and advances receivable 1,355,000 — — 1,355,000 1,355,000 Financial liabilities Accrued interest payable $ 184,000 $ — $ 145,000 $ 39,000 $ 184,000 Line of credit payable 14,164,000 — 14,164,000 — 14,164,000 Notes and loans payable 37,823,000 — 24,689,000 12,699,000 37,388,000 Fair Value Measurements at December 31, 2016 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 receivables 1,328,000 — — 1,328,000 1,328,000 Financial liabilities Accrued interest payable $ 137,000 $ — $ 97,000 $ 40,000 $ 137,000 Line of credit payable 4,976,000 4,976,000 — 4,976,000 Notes and loans payable 33,386,000 — 20,213,000 13,499,000 33,712,000 The following methods and assumptions were used by the Company in estimating the fair value of each class of financial instruments: Cash, cash equivalents and restricted cash: The carrying value of cash and cash equivalents and restricted cash approximates the fair value because of the relatively short maturity and/or liquid nature of these instruments and are classified as Level 1. Loans, net: Except as it relates to impaired loans measured at fair value on a nonrecurring basis discussed previously, the fair value of loans is estimated using discounted cash flow methodology, using discount rates, which, in the opinion of management, best reflect current market interest rates that would be offered for loans with similar characteristics and credit quality but are often unobservable resulting in a Level 3 3. Investment in limited liability company The fair value of the Company’s investment in limited liability company is estimated based on an appraisal obtained and is classified as Level 3 Line of credit payable: The fair values of the Company’s line of credit is estimated based upon a discounted cash flow model using comparable market indicators of current pricing for the same or similar issue or on the current rate offered to the Company for debt of the same remaining maturity and is generally observable resulting in a Level 2 2. Notes and loans payable: The fair values of the Company’s notes and loans payable and related accrued interest payable are estimated based upon a discounted cash flow model using comparable market indicators of current pricing for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities resulting in either a Level 2 3 2 one 3 2 3.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 13 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 $33,811,000 $30,035,000 March 31, 2017 $4,734,000 $34,769,000). 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 $1,044,000 $862,000 March 31, 2017 $294,000 $1,156,000). may As of March 31, 2017, $30,360,000 $4,017,000 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 14 - Subsequent Events

Note 14 - Subsequent Events	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 14 Closing of Sale of Assets at Chateau at the Village As previously reported, on September 22, 2016, 2 November 18, 2016, 8.0 $45.5 $42.5 $3.0 The sale of the Property closed on April 18, 2017 $42.3 $13.2 Shelf Registration Filed In May 2017, 3 1933, “1933 $100.0 two may 415 1933

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Princip les of Consolidation The consolidated financial statements include the accounts of the Company, its wholly-owned taxable REIT subsidiaries (“TRSs”) and its majority- and wholly-owned limited liability companies. The Company is in the business of providing mortgage lending services and manages its business as one Certain reclassifications, not affecting previously reported net income or stockholders’ equity, have been made to the previously issued consolidated financial statements to conform to the current period presentation.
Use of Estimates, Policy [Policy Text Block]	Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates are inherently imprecise and actual results could differ significantly from such estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In January 2017, 2017 01, 805) 2017 01. 2017 01 December 15, 2017, 2017 01 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 May 2014, 2014 09, 606),” 2014 09. 2014 09 2014 09’s one 2015 14, first December 15, 2017, December 15, 2016. 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 Recently Adopted Accounting Pronouncements In March 2016, 2016 07, 323) 2016 07. 2016 07 323 2016 07 first 2017

Note 3 - Loans and Allowance 22

Note 3 - Loans and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	2017 Commercial Residential Land Total Allowance for loan losses: Three Months Ended March 31, 2017 Beginning balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Charge-offs — (107,999 ) — (107,999 ) Provision (Reversal) 69,577 (13,964 ) (17,577 ) 38,036 Ending balance $ 934,548 $ 1,209,355 $ 492,956 $ 2,636,859 March 31 , 201 7 Ending balance: individually evaluated for impairment $ — $ 624,713 $ — $ 624,713 Ending balance: collectively evaluated for impairment 934,548 584,642 492,956 2,012,146 Ending balance $ 934,548 $ 1,209,355 $ 492,956 $ 2,636,859 Loans: Ending balance: individually evaluated for impairment $ — $ 4,177,854 $ — $ 4,177,854 Ending balance: collectively evaluated for impairment 110,682,477 13,606,070 8,238,523 132,527,070 Ending balance $ 110,682,477 $ 17,783,924 $ 8,238,523 $ 136,704,924 2016 Commercial Residential Land Total Allowance for loan losses: Three Months Ended March 31, 2016 Beginning balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Provision (Reversal) (3 ) 48,335 62,743 111,075 Ending balance $ 1,140,527 $ 503,922 $ 309,072 $ 1,953,521 December 31 , 201 6 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: 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 Ending balance $ 102,442,111 $ 19,001,677 $ 8,238,523 $ 129,682,311
Past Due Financing Receivables [Table Text Block]	March 31, 2017 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 $ — $ — $ — $ — $ 110,682,477 $ 110,682,477 Residential — — 4,177,854 4,177,854 13,606,070— 17,783,924 Land — — — — 8,238,523 8,238,523 $ — $ — $ 4,177,854 $ 4,177,854 $ 132,527,070 $ 136,704,924 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 $ — $ 4,883,866 $ 7,947,113 $ 121,735,198 $ 129,682,311
Impaired Financing Receivables [Table Text Block]	As of March 31, 201 7 Three Months Ended March 31, 201 7 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — $ — Residential 224,880 224,880 — 226,042 4,982 Land — — — — — $ 224,880 $ 224,880 $ 226,042 $ 4,982 With an allowance recorded: Commercial $ — $ — $ — $ — $ — Residential 4,443,169 3,952,974 624,713 4,673,655 — Land — — — — — $ 4,443,169 3,952,974 $ 624,713 $ 4,673,655 $ — Total: Commercial $ — $ — $ — $ — $ — Residential 4,668,049 4,177,854 624,713 4,899,697 4,982 Land — — — — — $ 4,668,049 $ 4,177,854 $ 624,713 $ 4,899,697 $ 4,982 As of December 31, 201 6 Three Months Ended March 31, 201 6 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ 488,699 $ — Residential 228,349 228,349 — 7,702,080 5,247 Land — — — — — $ 228,349 $ 228,349 $ 8,190,779 $ 5,247 With an allowance recorded: Commercial $ — $ — $ — $ 1,171,207 $ — Residential 5,145,712 4,655,517 732,712 — — Land — — — — — $ 5,145,712 4,655,517 $ 732,712 $ 1,171,207 $ — Total: Commercial Commercial Real Estate $ — $ — $ — $ 1,659,906 $ — Residential 5,374,061 4,883,866 732,712 7,702,080 5,247 Land — — — — — $ 5,374,061 $ 4,883,866 $ 732,712 $ 9,361,986 $ 5,247

Note 5 - Real Estate Held for23

Note 5 - Real Estate Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Properties Acquired Through Foreclosure [Table Text Block]	March 31, 2017 December 31, 2016 Land (including land under development) $ 78,068,730 $ 73,140,659 Golf course 1,970,437 1,970,437 Marina 1,462,876 — Office — 732,539 $ 81,502,043 $ 75,843,635

Note 6 - Real Estate Held for24

Note 6 - Real Estate Held for Investment (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Twelve months ending March 31: 2018 $ 2,333,552 2019 1,918,726 2020 1,371,521 2021 792,792 2022 691,599 Thereafter (through 2024) 862,936 Total $ 7,971,126
By Property [Member]
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	March 31, 2017 December 31, 2016 Retail $ 16,646,653 $ 16,829,995 Land 4,235,465 4,234,806 Residential 2,393,328 2,405,439 Assisted care 5,786,246 5,820,709 Office 3,925,360 3,962,869 Marina 2,539,637 4,025,945 $ 35,526,689 $ 37,279,763 March 31, 2017 December 31, 2016 Land and land improvements $ 10,404,165 $ 11,520,339 Buildings and improvements 28,485,857 28,910,851 38,890,022 40,431,190 Less: Accumulated depreciation (3,363,333 ) (3,151,427 ) $ 35,526,689 $ 37,279,763

Note 7 - Lines of Credit Paya25

Note 7 - Lines of Credit Payable (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Line of Credit Facilities [Table Text Block]	As of March 31, 201 7 As of December 31, 201 6 Outstanding Balance Total Commitment Outstanding Balance Total Commitment CB&T Line of Credit $ 14,164,000 $ 44,120,000 $ 4,976,000 $ 22,625,000
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]	Loans: March 31 , 201 7 Commercial $ 63,853,317 Residential 4,038,904 Total $ 67,892,221

Note 8 - Notes and Loans Paya26

Note 8 - Notes and Loans Payable on Real Estate (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Debt [Table Text Block]	March 31, 2017 Interest Rate December 31, 2016 Interest Rate Payment Terms/ Frequency Maturity Date Tahoe Stateline Venture, LLC Loan Payable $ 13,538,066 3.47 % 13,634,889 3.47 % Amortizing Monthly January 2021 Zalanta Construction Loan Payable 24,688,680 5.50 % 20,213,560 5.25 % Interest Only Monthly August 2018 Principal amount $ 38,226,746 $ 33,848,449 Less unamortized deferred financing costs (403,494 ) (462,515 ) Notes and loans payable, net $ 37,823,252 $ 33,385,934
Schedule of Maturities of Long-term Debt [Table Text Block]	Twelve months ending March 31: 2018 $ 24,395,789 2019 1,098,423 2020 424,190 2021 12,308,344 2022 — $ 38,226,746

Note 12 - Fair Value (Tables)

Note 12 - Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Fair Value Measurements, Nonrecurring [Table Text Block]	Fair Value Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, 2017 Nonrecurring: Impaired loans: Residential $ 3,818,456 $ — $ — $ 3,818,456 Total $ 3,818,456 $ — $ — $ 3,818,456 December 31, 2016 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
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]	Description Fair Value Valuation Technique Significant Unobservable Inputs Input/Range Weighted Average Impaired Loans: Commercial $ 3,818,456 Appraisal Comparable Sales Adjustment (4.6) % to 4.2% N/A 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
Fair Value, by Balance Sheet Grouping [Table Text Block]	Fair Value Measurements at March 31, 2017 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 602,000 $ 602,000 $ — $ — $ 602,000 Restricted cash 6,500,000 6,500,000 — — 6,500,000 Loans, net 134,068,000 — — 133,748,000 133,748,000 Investment in limited liability company 2,184,000 — — 2,650,000 2,650,000 Accrued interest and advances receivable 1,355,000 — — 1,355,000 1,355,000 Financial liabilities Accrued interest payable $ 184,000 $ — $ 145,000 $ 39,000 $ 184,000 Line of credit payable 14,164,000 — 14,164,000 — 14,164,000 Notes and loans payable 37,823,000 — 24,689,000 12,699,000 37,388,000 Fair Value Measurements at December 31, 2016 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 receivables 1,328,000 — — 1,328,000 1,328,000 Financial liabilities Accrued interest payable $ 137,000 $ — $ 97,000 $ 40,000 $ 137,000 Line of credit payable 4,976,000 4,976,000 — 4,976,000 Notes and loans payable 33,386,000 — 20,213,000 13,499,000 33,712,000

Note 1 - Organization (Details

Note 1 - Organization (Details Textual) - $ / shares	Mar. 31, 2017	Dec. 31, 2016	Jan. 23, 2013	Aug. 09, 2012
Common Stock, Shares Authorized	50,000,000	50,000,000		50,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01		$ 0.01
Preferred Stock, Shares Authorized	5,000,000	5,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01	$ 0.01
Potential Percentage Penalty Tax	100.00%
REIT Minimum Percent Distribution of Taxable Income	90.00%

Note 2 - Summary of Significa29

Note 2 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended
	Mar. 31, 2017
Number of Operating Segments	1

Note 3 - Loans and Allowance 30

Note 3 - Loans and Allowance for Loan Losses (Details Textual) xbrli-pure in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016	Dec. 31, 2016USD ($)
Financing Receivable, Recorded Investment, Current	$ 132,527,070		$ 121,735,198
Allowance for Loan and Lease Losses, Real Estate	$ 2,636,859		2,706,822
Financing Receivable, Modifications, Number of Contracts	0	0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts	0	0
Loans and Leases Receivable, Impaired, Commitment to Lend	$ 0		0
Extended Maturity [Member]
Allowance for Loan and Lease Losses, Real Estate	625,000		733,000
Financing Receivable, Modifications, Recorded Investment	4,668,000		5,374,000
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	110,682,477		102,442,111
Residential Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	13,606,070		12,134,564
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member]
Financing Receivable, Recorded Investment, Current	5,227,000		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	1,175,000		3,675,000
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] | 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] | Residential Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	4,052,000
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	3,025,000		$ 5,011,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Current	760,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Current	$ 267,000

Note 3 - Loans and Allowance 31

Note 3 - Loans and Allowance for Loan Losses - Allocation of the Allowance for Loan Losses (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Beginning balance	$ 2,706,822	$ 1,842,446
Charge-offs	(107,999)
Provision (Reversal)	38,036	111,075
Ending balance	2,636,859	1,953,521
Ending balance: individually evaluated for impairment - allowance for loan losses			$ 624,713	$ 732,712
Ending balance: collectively evaluated for impairment - allowance for loan losses			2,012,146	1,974,110
Ending balance	2,706,822	1,842,446	2,636,859	2,706,822
Ending balance: individually evaluated for impairment - loans			4,177,854	4,883,866
Ending balance: collectively evaluated for impairment - loans			132,527,070	124,798,445
Loans and Leases Receivable, Gross			136,704,924	129,682,311
Commercial Portfolio Segment [Member]
Beginning balance	864,971	1,140,530
Charge-offs
Provision (Reversal)	69,577	(3)
Ending balance	934,548	1,140,527
Ending balance: individually evaluated for impairment - allowance for loan losses
Ending balance: collectively evaluated for impairment - allowance for loan losses			934,548	864,971
Ending balance	864,971	1,140,530	934,548	864,971
Ending balance: individually evaluated for impairment - loans
Ending balance: collectively evaluated for impairment - loans			110,682,477	102,442,111
Loans and Leases Receivable, Gross			110,682,477	102,442,111
Residential Portfolio Segment [Member]
Beginning balance	1,331,318	455,587
Charge-offs	(107,999)
Provision (Reversal)	(13,964)	48,335
Ending balance	1,209,355	503,922
Ending balance: individually evaluated for impairment - allowance for loan losses			624,713	732,712
Ending balance: collectively evaluated for impairment - allowance for loan losses			584,642	598,606
Ending balance	1,331,318	455,587	1,209,355	1,331,318
Ending balance: individually evaluated for impairment - loans			4,177,854	4,883,866
Ending balance: collectively evaluated for impairment - loans			13,606,070	14,117,811
Loans and Leases Receivable, Gross			17,783,924	19,001,677
Land Portfolio Segment [Member]
Beginning balance	510,533	246,329
Charge-offs
Provision (Reversal)	(17,577)	62,743
Ending balance	492,956	309,072
Ending balance: individually evaluated for impairment - allowance for loan losses
Ending balance: collectively evaluated for impairment - allowance for loan losses			492,956	510,533
Ending balance	$ 510,533	$ 246,329	492,956	510,533
Ending balance: individually evaluated for impairment - loans
Ending balance: collectively evaluated for impairment - loans			8,238,523	8,238,523
Loans and Leases Receivable, Gross			$ 8,238,523	$ 8,238,523

Note 3 - Loans and Allowance 32

Note 3 - Loans and Allowance for Loan Losses - Aging Analysis of the Loan Portfolio by the Time Past Due (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Past due loans	$ 4,177,854	$ 7,947,113
Current loans	132,527,070	121,735,198
Total Loans	136,704,924	129,682,311
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	4,177,854	4,883,866
Commercial Portfolio Segment [Member]
Past due loans
Current loans	110,682,477	102,442,111
Total Loans	110,682,477	102,442,111
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
Residential Portfolio Segment [Member]
Past due loans	4,177,854	6,867,113
Current loans	13,606,070	12,134,564
Total Loans	17,783,924	19,001,677
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	4,177,854	4,883,866
Land Portfolio Segment [Member]
Past due loans		1,080,000
Current loans	8,238,523	7,158,523
Total Loans	8,238,523	8,238,523
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 33

Note 3 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Recorded investment, with no related allowance	$ 224,880		$ 228,349
Unpaid principal balance, with no related allowance	224,880		228,349
Average recorded investment, with no related allowance	226,042	$ 8,190,779
Interest income recognized, with no related allowance	4,982	5,247
Recorded investment, with related allowance	4,443,169		5,145,712
Unpaid principal balance, with related allowance	3,952,974		4,655,517
Related allowance	624,713		732,712
Average recorded investment, with related allowance	4,673,655	1,171,207
Interest income recognized, with related allowance
Recorded investment	4,668,049		5,374,061
Unpaid principal balance	4,177,854		4,883,866
Average recorded investment	4,899,697	9,361,986
Interest income recognized	4,982	5,247
Commercial Portfolio Segment [Member]
Recorded investment, with no related allowance
Unpaid principal balance, with no related allowance
Average recorded investment, with no related allowance		488,699
Interest income recognized, with no related allowance
Recorded investment, with related allowance
Unpaid principal balance, with related allowance
Related allowance
Average recorded investment, with related allowance		1,171,207
Interest income recognized, with related allowance
Recorded investment
Unpaid principal balance
Average recorded investment
Interest income recognized
Residential Portfolio Segment [Member]
Recorded investment, with no related allowance	224,880		228,349
Unpaid principal balance, with no related allowance	224,880		228,349
Average recorded investment, with no related allowance	226,042	7,702,080
Interest income recognized, with no related allowance	4,982	5,247
Recorded investment, with related allowance	4,443,169		5,145,712
Unpaid principal balance, with related allowance	3,952,974		4,655,517
Related allowance	624,713		732,712
Average recorded investment, with related allowance	4,673,655
Interest income recognized, with related allowance
Recorded investment	4,668,049		5,374,061
Unpaid principal balance	4,177,854		4,883,866
Average recorded investment	4,899,697	7,702,080
Interest income recognized	4,982	5,247
Land Portfolio Segment [Member]
Recorded investment, with no related allowance
Unpaid principal balance, with no related allowance
Average recorded investment, with no related allowance
Interest income recognized, with no related allowance
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
Interest income recognized
Commercial Real Estate Portfolio Segment [Member]
Related allowance
Recorded investment
Unpaid principal balance
Average recorded investment		1,659,906
Interest income recognized

Note 4 - Investment in Limite34

Note 4 - Investment in Limited Liability Company (Details Textual)	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Jul. 31, 2008
Income (Loss) from Equity Method Investments	$ 43,992	$ 42,624
1850 [Member]
Number of Real Estate Properties			2
Number of Companies			2
Income (Loss) from Equity Method Investments	44,000	43,000
Proceeds from Equity Method Investment, Distribution	$ 0	$ 0

Note 5 - Real Estate Held for35

Note 5 - Real Estate Held for Sale (Details Textual)	Apr. 18, 2017USD ($)a	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Real Estate Properties, Transfer to Held for Investment from Held for Sale		$ 1,463,000	$ 4,183,000
Impairment of Real Estate		0	0
Proceeds from Sale of Other Real Estate			6,479,000
Gain (Loss) on Sale of Properties		$ (181)	$ 4,838,815
Subsequent Event [Member] | Tahoe Stateline Venture, LLC [Member]
Gain (Loss) on Sale of Properties	$ 13,200,000
Subsequent Event [Member] | Tahoe Stateline Venture, LLC [Member] | Land and Entitlements [Member]
Proceeds from Sale of Other Real Estate	$ 42,300,000
Area of Real Estate Sold | a	8
Gain (Loss) on Sale of Properties	$ 13,200,000
Marinas [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale		1
Condominium Property [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale			1
Land Property [Member]
Number of Real Estate Properties Sold		1
Office Property [Member]
Number of Real Estate Properties Sold		1
Real Estate Properties Sold during the Period [Member]
Proceeds from Sale of Other Real Estate		$ 872,000
Industrial Property [Member]
Number of Real Estate Properties Sold			1
Office Building [Member]
Number of Real Estate Properties Sold			1

Note 5 - Real Estate Held for36

Note 5 - Real Estate Held for Sale - Properties Acquired Through Foreclosure (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Real estate held for sale	$ 81,502,043	$ 75,843,635
Improved and Unimproved Land [Member]
Real estate held for sale	78,068,730	73,140,659
Golf Course [Member]
Real estate held for sale	1,970,437	1,970,437
Marinas [Member]
Real estate held for sale	1,462,876
Office Building [Member]
Real estate held for sale		$ 732,539

Note 6 - Real Estate Held for37

Note 6 - Real Estate Held for Investment (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Depreciation	$ 296,000	$ 327,000
Minimum [Member]
Remaining Term on Lease	1 year
Maximum [Member]
Remaining Term on Lease	7 years

Note 6 - Real Estate Held for38

Note 6 - Real Estate Held for Investment - Real Estate Held for Investment (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Real estate held for investment	$ 35,526,689	$ 37,279,763
Land and land improvements	10,404,165	11,520,339
Buildings and improvements	28,485,857	28,910,851
Real estate held for investment	38,890,022	40,431,190
Less: Accumulated depreciation	(3,363,333)	(3,151,427)
Retail Site [Member]
Real estate held for investment	16,646,653	16,829,995
Improved and Unimproved Land [Member]
Real estate held for investment	4,235,465	4,234,806
Residential [Member]
Real estate held for investment	2,393,328	2,405,439
Assisted Care Facility [Member]
Real estate held for investment	5,786,246	5,820,709
Office Building [Member]
Real estate held for investment	3,925,360	3,962,869
Marinas [Member]
Real estate held for investment	$ 2,539,637	$ 4,025,945

Note 6 - Real Estate Held for39

Note 6 - Real Estate Held for Investment - Future Minimum Rental Income From Noncancellable Operating Leases (Details)	Mar. 31, 2017USD ($)
2,018	$ 2,333,552
2,019	1,918,726
2,020	1,371,521
2,021	792,792
2,022	691,599
Thereafter (through 2024)	862,936
Total	$ 7,971,126

Note 7 - Lines of Credit Paya40

Note 7 - Lines of Credit Payable (Details Textual) - USD ($)	1 Months Ended			3 Months Ended
	Mar. 31, 2016	Apr. 30, 2014	Feb. 28, 2014	Mar. 31, 2017	Mar. 31, 2016	Mar. 01, 2016
Interest Expense				$ 286,801	$ 683,051
Revolving Credit Facility [Member] | CB and T [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 30,000,000	55,000,000		$ 50,000,000
Line of Credit Facility Maximum Borrowing Capacity Additional Amount						$ 75,000,000
Line of Credit Facility, Increase (Decrease) in Borrowing Capacity				5,000,000
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				160,000	188,000
Amortization of Debt Issuance Costs				$ 37,000	34,000
Revolving Credit Facility [Member] | CB and T [Member] | Prime Rate [Member]
Debt Instrument, Interest Rate, Stated Percentage				4.25%
Revolving Credit Facility [Member] | Opus Credit Facility [Member]
Debt Issuance Costs, Line of Credit Arrangements, Gross		$ 231,000
Interest Expense					109,000
Amortization of Debt Issuance Costs					$ 19,000
Revolving Credit Facility [Member] | Opus Credit Facility [Member] | Minimum [Member] | Contingency Reserves [Member]
Loan Processing Fee		$ 100,000

Note 7 - Lines of Credit Paya41

Note 7 - Lines of Credit Payable - Credit Facilities (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Lines of credit payable	$ 14,164,000	$ 4,976,000
CB and T [Member]
Lines of credit payable	14,164,000	4,976,000
Lines of credit, commitment	$ 44,120,000	$ 22,625,000

Note 7 - Lines of Credit Paya42

Note 7 - Lines of Credit Payable - Loans Securing Credit Facility (Details) - CB and T [Member]	Mar. 31, 2017USD ($)
Carrying amount of loans securing CB&T Facility	$ 67,892,221
Commercial Loan [Member]
Carrying amount of loans securing CB&T Facility	63,853,317
Residential Real Estate [Member]
Carrying amount of loans securing CB&T Facility	$ 4,038,904

Note 8 - Notes and Loans Paya43

Note 8 - Notes and Loans Payable on Real Estate (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Aug. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2014	Dec. 31, 2016
Interest Expense		$ 286,801	$ 683,051
Debt Issuance Costs, Net		403,494			$ 462,515
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member]
Debt Instrument, Face Amount				$ 14,500,000
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
Debt Issuance Costs, Gross		$ 218,000
Interest Expense		127,000	130,000
Amortization of Debt Issuance Costs		9,000	$ 9,000
Debt Issuance Costs, Net		137,000			$ 146,000
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member] | Closing Fee [Member]
Debt Issuance Costs, Gross		$ 108,750
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member] | Outstanding Principal Balance [Member]
Debt Instrument Default Rate Increase		5.00%
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member] | Other Outstanding Obligations [Member]
Debt Instrument Default Rate Increase		10.00%
Loan Agreement [Member] | ZRV and ZRV II [Member] | Western Alliance Bank [Member]
Amortization of Debt Issuance Costs		$ 50,000
Debt Issuance Costs, Net		400,000
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
Interest Costs Capitalized		$ 290,000
Loan Agreement [Member] | ZRV and ZRV II [Member] | Western Alliance Bank [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Debt Instrument, Interest Rate, Effective Percentage		5.50%
Loan Agreement [Member] | ZRV and ZRV II [Member] | Western Alliance Bank [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%

Note 8 - Notes and Loans Paya44

Note 8 - Notes and Loans Payable on Real Estate - Notes and Loans Payable Outstanding (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Debt instrument, outstanding	$ 38,226,746	$ 33,848,449
Less unamortized deferred financing costs	(403,494)	(462,515)
Notes and loans payable, net	37,823,252	33,385,934
Tahoe Stateline Venture, LLC [Member] | TSV Credit Agreement [Member]
Debt instrument, outstanding	$ 13,538,066	$ 13,634,889
Debt Instrument, Interest Rate, Stated Percentage	3.47%	3.47%
Zalanta Resort at the Village, LLC [Member] | Loan Agreement [Member]
Debt instrument, outstanding	$ 24,688,680	$ 20,213,560
Debt Instrument, Interest Rate, Stated Percentage	5.50%	5.25%

Note 8 - Notes and Loans Paya45

Note 8 - Notes and Loans Payable on Real Estate - Notes and Loans Payable Maturities (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
2,018	$ 24,395,789
2,019	1,098,423
2,020	424,190
2,021	12,308,344
2,022
Total	$ 38,226,746	$ 33,848,449

Note 9 - Transactions with Af46

Note 9 - Transactions with Affiliates (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Management Fee Expense	$ 947,514	$ 765,515
Professional and Contract Services Expense	86,138	69,592
Due to Related Parties	372,532		$ 360,627
Late Fee Income Generated by Servicing Financial Assets, Amount	15,000	3,000
Ancillary Fee Income Generated by Servicing Financial Assets, Amount	4,000	4,000
Loan Fees Earned by OFG	528,000	718,000
Loans and Leases Receivable, Gross	136,704,924		129,682,311
Owens Financial Group Inc. [Member]
Due to Related Parties	31,000		36,000
Loans and Leases Receivable, Gross	26,655,000	35,150,000
Related Party Transaction, Amounts of Transaction	93,000	114,000
OFG Officers [Member]
Related Party Transaction, Amounts of Transaction	0	0
Investors Yield Inc. [Member]
Related Party Transaction, Amounts of Transaction	$ 1,000	$ 1,000
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	$ 342,000		$ 324,000

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Details Textual) - USD ($)	Apr. 13, 2017	Mar. 16, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 11, 2015
Common Stock, Dividends, Per Share, Declared		$ 0.08	$ 0.08	$ 0.08
Payments of Dividends			$ 1,402,496	$ 2,133,455
The 2016 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount					$ 7,500,000
Subsequent Event [Member]
Payments of Dividends	$ 819,798

Note 11 - Restricted Cash (Deta

Note 11 - Restricted Cash (Details Textual) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Contingency Reserves as a Percent of Capital	1.50%
Restricted Cash and Cash Equivalents	$ 6,500,000	$ 6,500,000
Contingency Reserves [Member]
Restricted Cash and Cash Equivalents	3,726,000	3,738,000
Contingency Reserves [Member] | Minimum [Member]
Restricted Cash and Cash Equivalents	$ 6,500,000	$ 6,500,000

Note 12 - Fair Value (Details T

Note 12 - Fair Value (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Allowance for Loan and Lease Losses, Adjustments, Other	$ (38,036)	$ (111,075)
Liabilities, Fair Value Disclosure, Recurring	0		$ 0
Impairment of Real Estate	0	0
Liabilities, Fair Value Disclosure, Nonrecurring	0		0
Assets, Fair Value Disclosure, Recurring	0		$ 0
Excluding Loan Loss Reversal Foreclosed Loan [Member]
Allowance for Loan and Lease Losses, Adjustments, Other	$ 0	$ 9,000

Note 12 - Fair Value - Assets a

Note 12 - Fair Value - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Assets at fair value	$ 3,818,456
Fair Value, Inputs, Level 3 [Member]
Assets at fair value	3,818,456
Impaired Loans [Member]
Assets at fair value		$ 872,037
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value		872,037
Impaired Loans [Member] | Residential Portfolio Segment [Member]
Assets at fair value	3,818,456	4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	$ 3,818,456	4,413,000
Real Estate Properties [Member]
Assets at fair value		4,413,000
Real Estate Properties [Member] | Land 1 [Member]
Assets at fair value		139,498
Real Estate Properties [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value		4,413,000
Real Estate Properties [Member] | Fair Value, Inputs, Level 3 [Member] | Land 1 [Member]
Assets at fair value		139,498
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 12 - Fair Value - Level 3

Note 12 - Fair Value - Level 3 Fair Value Measurements for Financial Instruments (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Assets at fair value	$ 3,818,456
Real Estate Properties [Member]
Assets at fair value		$ 4,413,000
Real Estate Properties [Member] | Land 1 [Member]
Assets at fair value		139,498
Real Estate Properties [Member] | Market Approach Valuation Technique [Member] | Land 1 [Member]
Assets at fair value		$ 139,498
Assets at fair value, comparable sales adjustment		(33.70%)
Real Estate Properties [Member] | Commercial Portfolio Segment [Member]
Assets at fair value		$ 732,539
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member]
Assets at fair value	$ 3,818,456
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Minimum [Member]
Assets at fair value, comparable sales adjustment	(4.60%)
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Market Approach Valuation Technique [Member] | Maximum [Member]
Assets at fair value, comparable sales adjustment	4.20%
Impaired Loans [Member]
Assets at fair value		872,037
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member]
Assets at fair value		$ 732,539
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Minimum [Member]
Assets at fair value, estimate of future improvements		(5.00%)
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Maximum [Member]
Assets at fair value, estimate of future improvements		5.00%
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Income Approach Valuation Technique [Member]
Assets at fair value, capitalization rate		7.30%
Impaired Loans [Member] | Residential Portfolio Segment [Member]
Assets at fair value	$ 3,818,456	$ 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%

Note 12 - Fair Value - Carrying

Note 12 - Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	$ 602,000	$ 434,000
Restricted cash	6,500,000	6,500,000
Loans, net
Investment in limited liability company
Accrued interest and advances receivable
Accrued interest payable
Line of credit payable
Notes and loans 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	145,000	97,000
Line of credit payable	14,164,000	4,976,000
Notes and loans payable	24,689,000	20,213,000
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Restricted cash
Loans, net	133,748,000	126,652,000
Investment in limited liability company	2,650,000	2,650,000
Accrued interest and advances receivable	1,355,000	1,328,000
Accrued interest payable	39,000	40,000
Line of credit payable
Notes and loans payable	12,699,000	13,499,000
Reported Value Measurement [Member]
Cash and cash equivalents	602,000	434,000
Restricted cash	6,500,000	6,500,000
Loans, net	134,068,000	126,975,000
Investment in limited liability company	2,184,000	2,140,000
Accrued interest and advances receivable	1,355,000	1,328,000
Accrued interest payable	184,000	137,000
Line of credit payable	14,164,000	4,976,000
Notes and loans payable	37,823,000	33,386,000
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	602,000	434,000
Restricted cash	6,500,000	6,500,000
Loans, net	133,748,000	126,652,000
Investment in limited liability company	2,650,000	2,650,000
Accrued interest and advances receivable	1,355,000	1,328,000
Accrued interest payable	184,000	137,000
Line of credit payable	14,164,000	4,976,000
Notes and loans payable	$ 37,388,000	$ 33,712,000

Note 13 - Commitments and Con53

Note 13 - Commitments and Contingencies (Details Textual)	3 Months Ended
	Mar. 31, 2017USD ($)
Contractual Obligation	$ 30,360,000
Interest Reserves [Member]
Contractual Obligation	4,017,000
Zalanta Resort at the Village, LLC [Member]
Contractual Obligation	33,811,000
Contractual Obligation Incurred	30,035,000
Other Construction Costs	4,734,000
Construction Costs Incurred and Other Costs	34,769,000
Zalanta II [Member]
Contractual Obligation	1,044,000
Contractual Obligation Incurred	862,000
Other Construction Costs	294,000
Construction Costs Incurred and Other Costs	$ 1,156,000

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details Textual)	Apr. 18, 2017USD ($)	Sep. 22, 2016USD ($)a	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	May 08, 2017USD ($)
Proceeds from Sale of Other Real Estate				$ 6,479,000
Gain (Loss) on Sale of Properties			$ (181)	$ 4,838,815
Subsequent Event [Member]
Shelf Registration Statement, Maximum Offering Amount					$ 100,000,000
Tahoe Stateline Venture, LLC [Member] | Subsequent Event [Member]
Gain (Loss) on Sale of Properties	$ 13,200,000
Tahoe Stateline Venture, LLC [Member] | Subsequent Event [Member] | Land and Entitlements [Member]
Proceeds from Sale of Other Real Estate	42,300,000
Gain (Loss) on Sale of Properties	$ 13,200,000
The Chateau at the Village [Member] | Tahoe Stateline Venture, LLC [Member] | Jianping Pan, Kawana Holdings LLC [Member]
Area of Real Estate for Sale | a		8
Real Estate Held for Sale Purchase Agreement Amount		$ 45,500,000
Real Estate Held for Sale Purchase Agreement Amount, Net of Seller's Credit		42,500,000
Real Estate Held for Sale Purchase Agreement, Buyer's Credit		$ 3,000,000