Owens Realty Mortgage (ORM) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 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)		10,041,938
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 24,368,069	$ 434,243
Restricted cash	3,500,000	6,500,000
Loans, net of allowance for loan losses of $2,138,356 in 2017 and $2,706,822 in 2016	134,916,587	126,975,489
Interest and other receivables	2,264,324	2,164,335
Other assets, net of accumulated depreciation and amortization of $296,015 in 2017 and $251,729 in 2016	827,459	803,676
Deferred financing costs, net of accumulated amortization of $225,041 in 2017 and $107,744 in 2016	67,059	171,855
Deferred tax assets, net	5,159,150	7,248,977
Investment in limited liability company	2,187,803	2,140,482
Real estate held for sale	56,808,874	75,843,635
Real estate held for investment, net of accumulated depreciation of $3,135,917 in 2017 and $3,151,427 in 2016	25,559,767	37,279,763
Total assets	255,659,092	259,562,455
LIABILITIES:
Dividends payable	1,012,782	1,402,496
Due to Manager	334,648	360,627
Accounts payable and accrued liabilities	1,737,443	3,699,859
Deferred gain on sale of real estate	209,662	209,662
Lines of credit payable		4,976,000
Notes and loans payable on real estate	29,780,790	33,385,934
Total liabilities	33,075,325	44,034,578
Commitments and Contingencies (Note 14)
EQUITY:
Preferred stock, $.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding at September 30, 2017 and December 31,2016
Common stock, $.01 par value per share, 50,000,000 shares authorized, 11,198,119 shares issued, 10,063,913 and 10,247,477 shares outstanding at September 30, 2017 and December 31, 2016	111,981	111,981
Additional paid-in capital	182,437,522	182,437,522
Treasury stock, at cost – 1,134,206 and 950,642 shares at September 30, 2017 and December 31, 2016	(16,049,176)	(12,852,058)
Retained earnings	56,083,440	45,830,432
Total stockholders’ equity	222,583,767	215,527,877
Total liabilities and equity	$ 255,659,092	$ 259,562,455

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Loans, allowance for losses	$ 2,138,356	$ 2,706,822
Other assets, accumulated depreciation and amortization	296,015	251,729
Deferred financing costs, accumulated amortization	225,041	107,744
Real estate held for investment, accumulated depreciation	$ 3,135,917	$ 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)	10,063,913	10,247,477
Treasury stock, shares (in shares)	1,134,206	950,642

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Interest income on loans	$ 2,963,394	$ 2,256,816	$ 8,151,798	$ 6,495,836
Rental and other income from real estate properties	1,265,961	2,191,357	3,392,168	6,782,758
Other income	48,138	45,804	138,222	133,114
Total revenues	4,277,493	4,493,977	11,682,188	13,411,708
Expenses:
Management fees to Manager	827,281	808,247	2,781,474	2,398,911
Servicing fees to Manager	93,179	73,477	270,834	218,083
General and administrative expense	510,574	338,696	1,540,260	1,242,040
Rental and other expenses on real estate properties	1,251,217	2,045,722	3,890,536	5,885,029
Depreciation and amortization	302,925	305,105	916,668	958,025
Interest expense	471,942	960,861	1,120,917	2,649,616
(Recovery of) provision for loan losses	(396,980)	(38,966)	(221,700)	347,029
Impairment losses on real estate properties	367,831	1,094,071	649,457	3,204,221
Total expenses	3,427,969	5,587,213	10,948,446	16,902,954
Operating income (loss)	849,524	(1,093,236)	733,742	(3,491,246)
Gain on sales of real estate, net	582,496	20,195,367	14,460,030	25,034,182
Net income before income taxes	1,432,020	19,102,131	15,193,772	21,542,936
Income tax (expense) benefit	(1,275,700)	260,848	(2,089,827)	7,629,683
Net income	156,320	19,362,979	13,103,945	29,172,619
Less: Net income attributable to non-controlling interests		(3,630,318)		(3,586,963)
Net income attributable to common stockholders	$ 156,320	$ 15,732,661	$ 13,103,945	$ 25,585,656
Per common share data:
Basic and diluted earnings per common share (in dollars per share)	$ 0.02	$ 1.54	$ 1.28	$ 2.50
Basic and diluted weighted average number of common shares outstanding (in shares)	10,173,448	10,247,477	10,222,529	10,247,477
Dividends declared per share of common stock (in dollars per share)	$ 0.10	$ 0.08	$ 0.28	$ 0.24

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				25,585,656	25,585,656	3,586,963	29,172,619
Dividends declared				(2,459,394)	(2,459,394)		(2,459,394)
Contribution from non-controlling interest						44,207	44,207
Distributions to non-controlling interests						(8,127,335)	(8,127,335)
Balances (in shares) at Sep. 30, 2016	11,198,119		(950,642)
Balances at Sep. 30, 2016	$ 111,981	182,437,522	$ (12,852,058)	48,408,815	218,106,260	32,684	218,138,944
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				13,103,945	13,103,945		13,103,945
Dividends declared				(2,850,937)	(2,850,937)		(2,850,937)
Purchase of treasury stock (in shares)			(183,564)
Purchase of treasury stock			$ (3,197,118)		(3,197,118)		(3,197,118)
Balances (in shares) at Sep. 30, 2017	11,198,119		(1,134,206)
Balances at Sep. 30, 2017	$ 111,981	$ 182,437,522	$ (16,049,176)	$ 56,083,440	$ 222,583,767		$ 222,583,767

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 13,103,945	$ 29,172,619
Adjustments to reconcile net income to net cash used in operating activities:
Gain on sales of real estate, net	(14,460,030)	(25,034,182)
Deferred income tax expense (benefit)	2,089,827	(7,629,683)
Income from investment in limited liability company	(137,321)	(133,114)
(Recovery of) provision for loan losses	(221,700)	347,029
Impairment losses on real estate properties	649,457	3,204,221
Depreciation and amortization of real estate and related assets	916,668	958,025
Amortization of deferred financing costs to interest expense	218,131	413,612
Changes in operating assets and liabilities:
Interest and other receivables	(72,989)	(422,026)
Other assets	(51,899)	(476,830)
Accounts payable and accrued liabilities	(2,168,626)	(1,891,375)
Due to Manager	(25,979)	(87,192)
Net cash used in operating activities	(160,516)	(1,578,896)
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal collected on loans	47,258,022	41,563,690
Investments in loans	(55,004,420)	(49,373,485)
Investment in real estate properties	(10,390,293)	(17,388,416)
Net proceeds from disposition of real estate properties and other assets	54,365,711	85,734,829
Purchases of furniture, fixtures and equipment	(16,170)	(29,887)
Transfer from restricted cash, net	3,000,000	725,371
Distribution received from investment in limited liability company	90,000	87,000
Net cash provided by investing activities	39,302,850	61,319,102
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances on notes payable	10,091,209	16,117,737
Repayments on notes payable	(13,873,448)	(33,384,892)
Advances on lines of credit	16,300,000	62,972,415
Repayments on lines of credit	(21,276,000)	(83,887,915)
Payment of deferred financing costs	(12,500)	(254,582)
Distributions to non-controlling interests		(8,127,335)
Contributions from non-controlling interest		44,207
Purchase of treasury stock	(3,197,118)
Dividends paid	(3,240,651)	(3,773,051)
Net cash used in financing activities	(15,208,508)	(50,293,416)
Net increase in cash and cash equivalents	23,933,826	9,446,790
Cash and cash equivalents at beginning of period	434,243	1,255,842
Cash and cash equivalents at end of period	24,368,069	10,702,632
Supplemental Disclosures of Cash Flow Information
Cash paid during the period for interest (excluding amounts capitalized)	927,708	2,297,766
Cash paid during the period for interest that was capitalized	472,357	317,153
Supplemental Disclosures of Non-Cash Activity
Increase in real estate from loan foreclosures		700,800
Decrease in loans, net of allowance for loan losses, from loan foreclosures		(631,232)
Decrease in interest and other receivables from loan foreclosures		(69,568)
Capital expenditures financed through accounts payable	(206,210)	(3,450,656)
Deferred financing costs paid from construction loan		399,558
Amortization of deferred financing costs capitalized to construction project	(76,260)	(69,526)
Dividends declared but not paid	$ (1,012,782)	$ (819,798)

Note 1 - Organization

Note 1 - Organization	9 Months Ended
	Sep. 30, 2017
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 ( No. 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	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES In the opinion of the management of the Company, the accompanying unaudited financial statements contain all adjustments, consisting of normal, recurring adjustments, necessary to present fairly the financial information included therein. Certain information and footnote disclosures presented in the annual consolidated financial statements are not 10 December 31, 2016 March 15, 2017. three nine September 30, 2017 not December 31, 2017. 10 Basis of Presentation Princip les of Consolidation The consolidated financial statements include the accounts of the Company and 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 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, not not 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 not may In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09. 2014 09 2014 09’s one 2015 14, first December 15, 2017, not not not not 2014 09, 2016 02, 4% 2014 09, two 2014 09 January 1, 2018, not In February 2016, 2016 02, 842 2016 02, . ASU 2016 02 December 15, 2018, not 2014 09. In January 2016, 2016 01, 825 10 2016 1. 2016 01 not 1 2 3 4 2016 1 2016 1 December 15, 2017, not 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 no nine September 30, 2017.

Note 3 - Loans and Allowance fo

Note 3 - Loans and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 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 not not not not 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 not 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 not The determination of the general reserve for loans that are not not 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 not 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. The following tables show the changes in the allowance for loan losses by portfolio segment for the three nine September 30, 2017 2016 September 30, 2017 December 31, 2016 2017 Commercial Residential Land Total Allowance for loan losses: Three Months Ended September 30, 201 7 Beginning balance $ 1,149,989 $ 1,017,016 $ 454,450 $ 2,621,455 Charge-offs — (86,119 ) — (86,119 ) Reversal of provision (147,516 ) (40,040 ) (209,424 ) (396,980 ) Ending Balance $ 1,002,473 $ 890,857 $ 245,026 $ 2,138,356 Nine Months Ended September 30, 201 7 Beginning balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Charge-offs — (373,766 ) — (373,766 ) Recoveries 27,000 — — 27,000 Provision (Reversal) 110,502 (66,695 ) (265,507 ) (221,700 ) Ending balance $ 1,002,473 $ 890,857 $ 245,026 $ 2,138,356 September 30, 2017 Ending balance: individually evaluated for impairment $ — $ 358,946 $ — $ 358,946 Ending balance: collectively evaluated for impairment $ 1,002,473 $ 531,911 $ 245,026 $ 1,779,410 Ending balance $ 1,002,473 $ 890,857 $ 245,026 $ 2,138,356 Loans: Ending balance: individually evaluated for impairment $ — $ 2,244,163 $ — $ 2,244,163 Ending balance: collectively evaluated for impairment $ 118,727,116 $ 11,988,664 $ 4,095,000 $ 134,810,780 Ending balance $ 118,727,116 $ 14,232,827 $ 4,095,000 $ 137,054,943 2016 Commercial Residential Land Total Allowance for loan losses: Three Months Ended September 30, 201 6 Beginning balance $ 764,900 $ 604,329 $ 411,692 $ 1,780,921 Charge-offs — — — — Provision (50,112 ) 11,146 — (38,966 ) Ending Balance $ 714,788 $ 615,475 $ 411,692 $ 1,741,955 Nine Months Ended September 30, 201 6 Beginning balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Charge-offs (447,520 ) — — (447,520 ) Provision 21,778 159,888 165,363 347,029 Ending balance $ 714,788 $ 615,475 $ 411,692 $ 1,741,955 As of December 31 , 2016 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 September 30, 2017 December 31, 2016. 90 September 30, 2017 December 31, 2016. September 30 , 201 7 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 $ 1,145,000 $ — $ — $ 1,145,000 $ 117,582,116 $ 118,727,116 Residential — — 2,244,163 2,244,163 11,988,664 14,232,827 Land — — — — 4,095,000 4,095,000 $ 1,145,000 $ — $ 2,244,163 $ 3,389,163 $ 133,665,780 $ 137,054,943 The above table as of September 30, 2017 eight $7,644,000 $1,585,000 60 89 $6,059,000 $4,119,000 30 $1,940,000 90 $1,145,000 $2,026,432 December 31, 201 6 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 seven $8,686,000 $3,675,000 $2,500,000 30 $1,175,000 30 59 $5,011,000 90 $6,639,000 The following tables show information related to impaired loans as of and for the three nine September 30, 2017: As of September 30, 2017 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ — $ — $ — Residential 217,731 217,731 — Land — — — $ 217,731 $ 217,731 $ — With an allowance recorded: Commercial $ — $ — $ — Residential 2,513,249 2,026,432 358,946 Land — — — $ 2,513,249 $ 2,026,432 $ 358,946 Total s : Commercial $ — $ — $ — Residential 2,730,980 2,244,163 358,946 Land — — — $ 2,730,980 $ 2,244,163 $ 358,946 Three Months Ended September 30, 2017 Nine Months Ended September 30 , 201 7 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — Residential 218,940 4,841 222,503 14,734 Land — — — — $ 218,940 $ 4,841 $ 222,503 $ 14,734 With an allowance recorded: Commercial $ — $ — $ — $ — Residential 2,702,068 — 3,631,609 — Land — — — — $ 2,702,068 $ — $ 3,631,609 $ — Total s : Commercial $ — $ — $ — $ — Residential 2,921,008 4,841 3,854,112 14,734 Land — — — — $ 2,921,008 $ 4,841 $ 3,854,112 $ 14,734 The following tables show information related to impaired loans as of December 31, 2016 three nine September 30, 2016: December 31 , 201 6 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ — $ — $ — Residential 228,349 228,349 — Land — — — $ 228,349 $ 228,349 $ — With an allowance recorded: Commercial $ — $ — $ — Residential 5,145,712 4,655,517 732,712 Land — — — $ 5,145,712 $ 4,655,517 $ 732,712 Total s : Commercial $ — $ — $ — Residential 5,374,061 4,883,866 732,712 Land — — — $ 5,374,061 $ 4,883,866 $ 732,712 Three Months Ended September 30, 201 6 Nine Months Ended September 30 , 201 6 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 1,444,271 $ 19,093 $ 1,926,261 $ 19,093 Residential 6,846,012 5,117 6,616,418 15,548 Land — — — — $ 8,290,283 $ 24,210 $ 8,542,679 $ 34,641 With an allowance recorded: Commercial $ — $ — $ 1,153,713 $ — Residential — — — — Land — — — — $ — $ — $ 1,153,713 $ — Total s : Commercial $ 1,444,271 $ 19,093 $ 3,079,974 $ 19,093 Residential 6,846,012 5,117 6,616,418 15,548 Land — — — — $ 8,290,283 $ 24,210 $ 9,696,392 $ 34,641 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 with no may no Troubled Debt Restructurings The Company has allocated approximately $359,000 $733,000 $2,731,000 $5,374,000 September 30, 2017 December 31, 2016, not No three nine September 30, 2017 2016, nor twelve three nine September 30, 2017 2016.

Note 4 - Investment in Limited

Note 4 - Investment in Limited Liability Company	9 Months Ended
	Sep. 30, 2017
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 The Company received distributions from 1850 $0 $90,000 three nine September 30, 2017, $0 $87,000 three nine September 30, 2016, 1850 $47,000 $46,000 three September 30, 2017 2016, $137,000 $133,000 nine September 30, 2017 2016,

Note 5 - Real Estate Held for S

Note 5 - Real Estate Held for Sale	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Real Estate Owned [Text Block]	NOTE 5 - REAL ESTATE HELD FOR SALE Real estate properties held for sale as of September 30, 2017 December 31, 2016 September 30, 201 7 December 31, 201 6 Residential $ 24,364,833 $ — Land (including land under development) 13,775,522 73,140,659 Retail 7,632,893 — Golf course 1,999,449 1,970,437 Marina 3,336,400 — Assisted care 5,699,777 — Office — 732,539 $ 56,808,874 $ 75,843,635 Note: The ZRV mixed-use residential/retail project was completed during 2017. December 31, 2016 September 30, 2017 Transfers During the three nine September 30, 2017, three one one one six three two one $9,240,000 $11,085,000, one $154,000 one three September 30, 2017. There were no three September 30, 2016, $6,066,000 nine September 30, 2016, four $10,052,000 one one one one one No Impairment Losses During the three nine September 30, 2017, $154,000 During the three nine September 30, 2017, $214,000 $495,000, second third During the three nine September 30, 2016, $1,094,000 nine September 30, 2016, $2,110,000 Sales During the three nine September 30, 2017, one seven $1,701,000 $10,579,000, $330,000 $997,000, During the three nine September 30, 2017, one 1,000 $586,000 $252,000 During the nine September 30, 2017, three two one $43,201,000, $13,211,000. During the three September 30, 2016, four two two 75 $79,256,000, $20,195,000 $16,479,000 $3,716,000 During the nine September 30, 2016, six $85,735,000, $25,034,000 $21,318,000 $3,716,000 Foreclosure Activity There were no three nine September 30, 2017. During the nine September 30, 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. $48,000 $448,000 2015, June 2016. The property was sold during 2017

Note 6 - Real Estate Held for I

Note 6 - Real Estate Held for Investment	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Real Estate Held for Investment Disclosure [Text Block]	NOTE 6 - REAL ESTATE HELD FOR INVESTMENT Real estate held for investment as of September 30, 2017 December 31, 2016 September 30, 201 7 December 31, 201 6 Retail $ 16,783,873 $ 16,829,995 Land 2,844,504 4,234,806 Residential 2,369,105 2,405,439 Assisted care — 5,820,709 Office 3,562,285 3,962,869 Marina — 4,025,945 $ 25,559,767 $ 37,279,763 The balances of land and the major classes of depreciable property for real estate held for investment as of September 30, 2017 December 31, 2016 September 30, 201 7 December 31, 20 16 Land and land improvements $ 5,977,198 $ 11,520,339 Buildings and improvements 22,718,486 28,910,851 Less: Accumulated depreciation (3,135,917 ) (3,151,427 ) $ 25,559,767 $ 37,279,763 It is the Company’s intent to sell its real estate properties held for investment, but expected sales of these properties are not Depreciation expense was approximately $288,000 $286,000 three September 30, 2017 2016, $872,000 $904,000 nine September 30, 2017 2016, Certain of the Company’s real estate properties held for sale and investment are leased to tenants under noncancellable leases with remaining terms ranging from one eight five September 30, 2017 Twelve months ending September 30: 201 8 $ 2,208,825 201 9 1,807,328 20 20 839,429 20 21 730,588 20 22 600,176 Thereafter (through 2024) 1,119,267 Total $ 7,305,613

Note 7 - Line of Credit Payable

Note 7 - Line of Credit Payable	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 7 – LINE OF CREDIT PAYABLE The Company borrows funds under the revolving California Bank & Trust (“CB&T”) line of credit and, until its termination in September 2016, September 30, 2017 December 31, 2016, September 30 , 201 7 December 31, 201 6 Outstanding Balance Total Current Commitment Outstanding Balance Total Current Commitment CB&T Line of Credit $ — $ 38,936,606 $ 4,976,000 $ 22,625,000 CB&T Line of Credit In February 2014, April 2015, March 2016 June 2017 $75,000,000 March 1, 2018. $3,500,000 Such borrowings bear interest payable monthly at the prime rate of interest established by CB&T from time-to-time plus one .25% 4.5% September 30, 2017). 2.00%. $100,000 $177,000 September 30, 2016). $255,000 $40,000 $307,000 three September 30, 2017 2016, $40,000 $32,000, $271,000 $799,000 nine September 30, 2017 2016, $117,000 $98,000, Borrowings are secured by certain assets of the Company. These collateral assets will include the grant to the lenders of first September 30, 2017, Loans: September 30 , 201 7 Commercial $ 56,160,649 Residential 2,945,107 Total $ 59,105,756 The CB&T Credit Facility agreements contain financial covenants which are customary for a loan of this type. Management is not September 30, 2017. Opus Bank Line of Credit In April 2014, September 2016 The Opus Credit Facility required the payment of an origination fee of $100,000 $231,000 $130,000 three September 30, 2016 ( $64,000 $364,000 nine September 30, 2016 ( $103,000 $45,000 three nine September 30, 2016.

Note 8 - Notes and Loans Payabl

Note 8 - Notes and Loans Payable on Real Estate	9 Months Ended
	Sep. 30, 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 September 30, 2017 December 31, 2016: September 30, 2017 Interest Rate December 31, 2016 Interest Rate Payment Terms/ Frequency Maturity Date Tahoe Stateline Venture, LLC Loan Payable $ 13,341,886 3.47% $ 13,634,889 3.47% Amortizing Monthly January 2021 Zalanta Construction Loan Payable 16,724,325 5.75% 20,213,560 5.25% Interest Monthly Principal Quarterly August 2018 Principal amount $ 30,066,211 $ 33,848,449 Less unamortized deferred financing costs (285,421 ) (462,515 ) Notes and loans payable, net $ 29,780,790 $ 33,385,934 The following table shows maturities by year on these notes and loans payable as of September 30, 2017: Twelve months ending September 30: 201 8 $ 17,127,030 201 9 416,904 20 20 431,603 20 21 12,090,674 202 2 — Thereafter — Total $ 30,066,211 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 September 30, 2017 2016, $125,000 $128,000, $9,000 $9,000, nine September 30, 2017 2016, $378,000 $388,000, $27,000 $27,000, The TSV Loan documents contain financial covenants which are customary for loans of this type . Management is not September 30, 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 not 60% 65% 1.50% no five 5.0% September 30, 2017 5.75%. five 5.0% Interest payments are payable monthly from an established interest reserve. In addition, commencing on August 18, 2017 $6 $6 one August 3, 2018. Borrowings are secured by: (i) a first $3,000,000 September 2017 $3,000,000 The ZRV Loan documents contain provisions that allow for the sale of individual condominiums in the Project during the term of the ZRV Loan and the removal of those units from the collateral base, in exchange for payment of proceeds of the sales to Lender. Any such payment of sales proceeds to Lender will be applied to reduce the principal balance of the ZRV Loan and will reduce the quarterly Curtailment Requirement. Principal payments totaling approximately $4,802,000 $13,580,000 three nine September 30, 2017, one seven The Loan Agreement required the payment of an origination fee of $310,000 $400,000. nine September 30, 2017, $76,000 nine September 30, 2017, $472,000 three nine September 30, 2017, $307,000 $472,000, $50,000 $74,000 three nine September 30, 2016, $33,000 three nine September 30, 2016, $72,000 The ZRV Loan documents contain financial covenants which are customary for loans of this type . Management is not September 30, 2017.

Note 9 - Transactions With Affi

Note 9 - Transactions With Affiliates	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 9 - TRANSACTIONS WITH AFFILIATES 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 0.25% OFG, at its sole discretion may, not may 1 /12 12 $827,000 $808,000 three September 30, 2017 2016, $2,781,000 $2,399,000 nine September 30, 2017 2016, $93,000 $73,000 three September 30, 2017 2016, $271,000 $218,000 nine September 30, 2017 2016, September 30, 2017 December 31, 2016, $300,000 $324,000, During the six June 30, 2017 December 31, 2016, August 2017, July 1, 2017 During each month in the Adjustment Period, the Existing Management Fee to be paid monthly is to be reduced (but not 1. The “Interim Management Fee” is equal to (i) one twelfth 1/12 1.50% ’ Equity Balance” (defined below), with such Opening Stockholders’ Equity Balance to be adjusted by the Manager in the following manner: (A) at the end of a calendar month to reflect any changes that result from any of the events specified in clause (A) in the definition of “Stockholders' Equity” (defined below) during such calendar month from the Opening Stockholders ’ Equity Balance; and (B) at the end of a calendar quarter to reflect any changes that result from the components specified in clauses (B), (C) or (D) in the definition of “Stockholders ’ Equity” (defined below) for such calendar quarter from the Opening Stockholders’ Equity Balance. Since the Management Fee is to be paid monthly during the Adjustment Period, and the components of Stockholders ’ Equity specified in clauses (B), (C) and (D) in the definition of “Stockholders’ Equity” will not 2. As used in the calculation of the Interim Management Fee, “Stockholders ’ Equity” means: (A) the sum of the net proceeds from any issuances of the Company ’s equity securities since inception (including the book value of the Company’s Common Stock and Additional Paid-in Capital at inception of the Company) less any amount that the Company pays for repurchases of its equity securities (determined as of the most recent month end), plus (B) the Company ’s consolidated retained earnings at the end of the most recently completed calendar quarter (without taking into account any non-cash equity compensation expense incurred in current or prior periods), less (C) any unrealized gains, losses or other items that do not (D) one ’s Independent Directors and after approval by a majority of the Company’s Independent Directors. 3. As used in the calculation of the Interim Management Fee, “Opening Stockholders ’ Equity Balance” means Stockholders’ Equity at the end of the most recently completed calendar quarter. “ Independent Directors” means the members of the Company’s Board of Directors who are not , 4. The Manager shall compute each installment of the Interim Management Fee reasonably promptly at the end of each calendar month during the Adjustment Period. A copy of the computations, including a comparison of the Interim Management Fee to the Existing Management Fee, made by the Manager to calculate such installment shall thereafter promptly be delivered to the Board of Directors. 5. There will be no the Company to the Manager, and the Manager would also continue to receive the fees paid by our borrowers to the Manager. For the quarter ended September 30, 2017, $827,000. $1,025,000, $198,000 September 30, 2017. 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 $2,000 three September 30, 2017 2016, $37,000 $8,000 nine September 30, 2017 2016, $4,000 $5,000, three September 30, 2017 2016 $14,000 $14,000, nine September 30, 2017 2016, OFG originates all loans the Company invests in and receives loan origination and extension fees from borrowers. During the three nine September 30, 2017, $157,000 $1,313,000, $7,369,000 $70,380,000, $194,000 September 30, 2017. three nine September 30, 2016, $120,000 $1,372,000, $5,140,000 $59,305,000, 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 total amounts reimbursed to OFG by the Company for such services were $96,000 $113,000 three September 30, 2017 2016, $286,000 $332,000 nine September 30, 2017 2016, September 30, 2017 December 31, 2016, $34,000 $36,000 $2,000 $0 nine September 30, 2017 2016, The Company paid Investor’s Yield, Inc. (a wholly owned subsidiary of OFG) approximately $1,000 $3,000 nine September 30, 2017 2016,

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 10 – STOCKHOLDERS’ EQUITY Dividends On March 16, 2017, $0.08 March 31, 2017. April 13, 2017 $819,798. On June 13, 2017, $0.10 June 30, 2017. July 13, 2017 $1,024,748. On September 13, 2017, $0.10 September 30, 2017. October 13, 2017 $1,012,782 $1,006,391 $6,391 As of September 30, 2017, 2017 $3,306,000. not 35% fourth 2017. Stock Repurchase Programs On December 11, 2015, 10b5 1 “2016 $7.5 2016 2016 April 1, 2016 No 2016 March 31, 2017. On June 9, 2017, 10b5 1 “2017 may $10 2017 2017 July 13, 2017 no 2017 January 15, 2018, may September 30, 2017, 183,564 2017 $3,197,000 $17.42 12,774 October 2017 ( $230,000 $17.99

Note 11 - Contingency Reserves

Note 11 - Contingency Reserves	9 Months Ended
	Sep. 30, 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% not The contingency reserves required per the charter as of September 30, 2017 December 31, 2016 $3,733,000 $3,738,000, ted balance sheets.

Note 12 - Income Taxes

Note 12 - Income Taxes	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 1 2 The Company operates in such a manner as to qualify as a REIT, under the provisions of the Code; therefore, applicable REIT taxable income is included in the taxable income of its shareholders, to the extent distributed by the Company. To maintain REIT status for federal income tax purposes, the Company is generally required to distribute at least 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 100% of its REIT taxable income each year. Taxable income from non-REIT activities managed through the Company's taxable REIT subsidiaries (“TRSs”) (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 not nine September 30, 2017 December 31, 2016 2015 not not During 2016, 2016 2015. No not not 2017 During 2016, two 75 $7,630,000 $20,513,000 September 30, 2016. The components of the income tax expense (benefit) as it relates to the Company’s taxable income (loss) from domestic TRSs during the three nine September 30, 2017 2016 Three and Nine Months Ended September 30, 201 7 Federal State and Local Total Three Months: Deferred expense $ 1,050,920 $ 224,780 $ 1,275,700 Income tax expense $ 1,050,920 $ 224,780 $ 1,275,700 Nine Months: Deferred expense $ 1,846,792 $ 243,035 $ 2,089,827 Income tax expense $ 1,846,792 $ 243,035 $ 2,089,827 Three and Nine Months Ended September 30, 2016 Federal State and Local Total Three Months: Deferred expense (benefit) $ 193,509 $ (454,357 ) $ (260,848 ) Income tax expense (benefit) $ 193,509 $ (454,357 ) $ (260,848 ) Nine Months: Deferred expense (benefit) $ (6,242,655 ) $ (1,387,028 ) $ (7,629,683 ) Income tax expense (benefit) $ (6,242,655 ) $ (1,387,028 ) $ (7,629,683 ) A reconciliation of the income tax provision (benefit) based upon the statutory tax rates to the effective rates of our taxable REIT subsidiaries is as follows for the nine September 30, 2017 2016: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Tax (benefit) expense at Federal statutory rate $ (58,503 ) $ (377,277 ) $ 28,646 $ (377,277 ) State income tax expense, net of federal effect 148,355 (299,876 ) 163,289 (915,439 ) Real estate basis differences — — (6,725,771 ) Other 117 27,590 (19,706 ) 89 Change in valuation allowance 1,185,731 388,715 1,917,598 388,715 Income tax expense (benefit) $ 1,275,700 $ (260,848 ) $ 2,089,827 $ (7,629,683 ) Significant components of the Company’s deferred tax assets (liabilities) are as follows as of September 30, 2017 December 31, 2016: Deferred tax assets (liabilities): As of September 30, 201 7 As of December 31 , 2016 Real estate basis differences $ 6,051,703 $ 6,154,411 Net operating losses 1,978,163 1,889,310 Total deferred tax assets 8,029,866 8,043,721 Valuation allowance (2,870,716 ) (794,744 ) Net deferred tax assets $ 5,159,150 $ 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 not 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 $2,871,000 $795,000 September 30, 2017 December 31, 2016, not $5,737,000 $474,000, September 30, 2017. $3,511,000 September 30, 2017; not not not 2036 2037.

Note 13 - Fair Value

Note 13 - Fair Value	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 1 3 – FAIR VALUE 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 not Level 3 Unobservable inputs that are supported by little or no 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 may 310 10 35. third not September 30, 2017 December 31, 2016, third 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 may 2 3 The following table present s information about the Company’s assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2017 December 31, 2016: Fair Value Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 201 7 Nonrecurring : Impaired loans: Residential $ 2,154,303 $ — $ — $ 2,154,303 Total impaired loans $ 2,154,303 $ — $ — $ 2,154,303 Real estate properties: Commercial $ 3,336,400 — — 3,336,400 Total real estate properties $ 3,336,400 $ — $ — $ 3,336,400 December 31, 201 6 Nonrecurring : Impaired loans: Residential $ 4,413,000 $ — $ — $ 4,413,000 Total impaired loans $ 4,413,000 $ — $ — $ 4,413,000 Real estate properties: Land $ 139,498 $ — $ — $ 139,498 Commercial 732,539 732,539 Total real estate properties $ 872,037 $ — $ — $ 872,037 The recovery of loan losses based on the fair value of loan collateral less estimated selling costs for the impaired loans above totaled approximately $0 $0 three September 30, 2017 2016, $0 $38,000 nine September 30, 2017 2016, $368,000 $1,094,000 three September 30, 2017 2016, $649,000 $3,204,000 nine September 30, 2017 2016 There were no September 30, 2017 December 31, 2016. three nine September 30, 2017 2016, no 1 2. The following table presents quantitative information about Level 3 September 30, 2017 December 31, 2016: September 30, 201 7 Description Fair Value Valuation Technique Significant Unobservable Inputs Input/Range Weighted Average Impaired Loans: Residential $ 2,154,303 Appraisal Comparable Sales Adjustment (4.6)% to 4.2% N/A Real Estate Properties: Commercial $ 3,336,400 Appraisal Comparable Sales Adjustment (16.7)% to (40.6)% (23.5 )% December 31, 201 6 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 September 30, 2017 December 31, 2016 Fair Value Measurements at September 30 , 201 7 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 24,368,000 $ 24,368,000 $ — $ — $ 24,368,000 Restricted cash 3,500,000 3,500,000 — — 3,500,000 Loans , net 134,917,000 — — 130,730,000 130,730,000 Investment in limited liability company 2,188,000 — — 2,650,000 2,650,000 Accrued i nterest and advances receivable 1,435,000 — — 1,435,000 1,435,000 Financial liabilities Accrued interest payable $ 112,000 $ — $ 73,000 $ 39,000 $ 112,000 Line of credit payable — — — — — Note s and loans payable 29,781,000 — 16,724,000 12,610,000 29,334,000 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 i nterest 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 Line of credit payable 4,976,000 4,976,000 — 4,976,000 Note s 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: 1. Loans, net: 3 3. Investment in limited liability company : 3 Line of credit payable: 2 2. Notes and loans payable: 2 3 2 one 3 2 3.

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 1 4 - COMMITMENTS AND CONTINGENCIES Contractual Obligations As of September 30, 2017, $29,772,000 $4,221,000 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

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 and 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
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, not not 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 not may In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09. 2014 09 2014 09’s one 2015 14, first December 15, 2017, not not not not 2014 09, 2016 02, 4% 2014 09, two 2014 09 January 1, 2018, not In February 2016, 2016 02, 842 2016 02, . ASU 2016 02 December 15, 2018, not 2014 09. In January 2016, 2016 01, 825 10 2016 1. 2016 01 not 1 2 3 4 2016 1 2016 1 December 15, 2017, not 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 no nine September 30, 2017.

Note 3 - Loans and Allowance 22

Note 3 - Loans and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 201 7 Beginning balance $ 1,149,989 $ 1,017,016 $ 454,450 $ 2,621,455 Charge-offs — (86,119 ) — (86,119 ) Reversal of provision (147,516 ) (40,040 ) (209,424 ) (396,980 ) Ending Balance $ 1,002,473 $ 890,857 $ 245,026 $ 2,138,356 Nine Months Ended September 30, 201 7 Beginning balance $ 864,971 $ 1,331,318 $ 510,533 $ 2,706,822 Charge-offs — (373,766 ) — (373,766 ) Recoveries 27,000 — — 27,000 Provision (Reversal) 110,502 (66,695 ) (265,507 ) (221,700 ) Ending balance $ 1,002,473 $ 890,857 $ 245,026 $ 2,138,356 September 30, 2017 Ending balance: individually evaluated for impairment $ — $ 358,946 $ — $ 358,946 Ending balance: collectively evaluated for impairment $ 1,002,473 $ 531,911 $ 245,026 $ 1,779,410 Ending balance $ 1,002,473 $ 890,857 $ 245,026 $ 2,138,356 Loans: Ending balance: individually evaluated for impairment $ — $ 2,244,163 $ — $ 2,244,163 Ending balance: collectively evaluated for impairment $ 118,727,116 $ 11,988,664 $ 4,095,000 $ 134,810,780 Ending balance $ 118,727,116 $ 14,232,827 $ 4,095,000 $ 137,054,943 2016 Commercial Residential Land Total Allowance for loan losses: Three Months Ended September 30, 201 6 Beginning balance $ 764,900 $ 604,329 $ 411,692 $ 1,780,921 Charge-offs — — — — Provision (50,112 ) 11,146 — (38,966 ) Ending Balance $ 714,788 $ 615,475 $ 411,692 $ 1,741,955 Nine Months Ended September 30, 201 6 Beginning balance $ 1,140,530 $ 455,587 $ 246,329 $ 1,842,446 Charge-offs (447,520 ) — — (447,520 ) Provision 21,778 159,888 165,363 347,029 Ending balance $ 714,788 $ 615,475 $ 411,692 $ 1,741,955 As of December 31 , 2016 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]	September 30 , 201 7 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 $ 1,145,000 $ — $ — $ 1,145,000 $ 117,582,116 $ 118,727,116 Residential — — 2,244,163 2,244,163 11,988,664 14,232,827 Land — — — — 4,095,000 4,095,000 $ 1,145,000 $ — $ 2,244,163 $ 3,389,163 $ 133,665,780 $ 137,054,943 December 31, 201 6 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 September 30, 2017 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ — $ — $ — Residential 217,731 217,731 — Land — — — $ 217,731 $ 217,731 $ — With an allowance recorded: Commercial $ — $ — $ — Residential 2,513,249 2,026,432 358,946 Land — — — $ 2,513,249 $ 2,026,432 $ 358,946 Total s : Commercial $ — $ — $ — Residential 2,730,980 2,244,163 358,946 Land — — — $ 2,730,980 $ 2,244,163 $ 358,946 Three Months Ended September 30, 2017 Nine Months Ended September 30 , 201 7 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ — $ — $ — $ — Residential 218,940 4,841 222,503 14,734 Land — — — — $ 218,940 $ 4,841 $ 222,503 $ 14,734 With an allowance recorded: Commercial $ — $ — $ — $ — Residential 2,702,068 — 3,631,609 — Land — — — — $ 2,702,068 $ — $ 3,631,609 $ — Total s : Commercial $ — $ — $ — $ — Residential 2,921,008 4,841 3,854,112 14,734 Land — — — — $ 2,921,008 $ 4,841 $ 3,854,112 $ 14,734 December 31 , 201 6 Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial $ — $ — $ — Residential 228,349 228,349 — Land — — — $ 228,349 $ 228,349 $ — With an allowance recorded: Commercial $ — $ — $ — Residential 5,145,712 4,655,517 732,712 Land — — — $ 5,145,712 $ 4,655,517 $ 732,712 Total s : Commercial $ — $ — $ — Residential 5,374,061 4,883,866 732,712 Land — — — $ 5,374,061 $ 4,883,866 $ 732,712 Three Months Ended September 30, 201 6 Nine Months Ended September 30 , 201 6 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial $ 1,444,271 $ 19,093 $ 1,926,261 $ 19,093 Residential 6,846,012 5,117 6,616,418 15,548 Land — — — — $ 8,290,283 $ 24,210 $ 8,542,679 $ 34,641 With an allowance recorded: Commercial $ — $ — $ 1,153,713 $ — Residential — — — — Land — — — — $ — $ — $ 1,153,713 $ — Total s : Commercial $ 1,444,271 $ 19,093 $ 3,079,974 $ 19,093 Residential 6,846,012 5,117 6,616,418 15,548 Land — — — — $ 8,290,283 $ 24,210 $ 9,696,392 $ 34,641

Note 5 - Real Estate Held for23

Note 5 - Real Estate Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Properties Acquired Through Foreclosure [Table Text Block]	September 30, 201 7 December 31, 201 6 Residential $ 24,364,833 $ — Land (including land under development) 13,775,522 73,140,659 Retail 7,632,893 — Golf course 1,999,449 1,970,437 Marina 3,336,400 — Assisted care 5,699,777 — Office — 732,539 $ 56,808,874 $ 75,843,635

Note 6 - Real Estate Held for24

Note 6 - Real Estate Held for Investment (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Twelve months ending September 30: 201 8 $ 2,208,825 201 9 1,807,328 20 20 839,429 20 21 730,588 20 22 600,176 Thereafter (through 2024) 1,119,267 Total $ 7,305,613
By Property [Member]
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	September 30, 201 7 December 31, 201 6 Retail $ 16,783,873 $ 16,829,995 Land 2,844,504 4,234,806 Residential 2,369,105 2,405,439 Assisted care — 5,820,709 Office 3,562,285 3,962,869 Marina — 4,025,945 $ 25,559,767 $ 37,279,763 September 30, 201 7 December 31, 20 16 Land and land improvements $ 5,977,198 $ 11,520,339 Buildings and improvements 22,718,486 28,910,851 Less: Accumulated depreciation (3,135,917 ) (3,151,427 ) $ 25,559,767 $ 37,279,763

Note 7 - Line of Credit Payab25

Note 7 - Line of Credit Payable (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Line of Credit Facilities [Table Text Block]	September 30 , 201 7 December 31, 201 6 Outstanding Balance Total Current Commitment Outstanding Balance Total Current Commitment CB&T Line of Credit $ — $ 38,936,606 $ 4,976,000 $ 22,625,000
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]	Loans: September 30 , 201 7 Commercial $ 56,160,649 Residential 2,945,107 Total $ 59,105,756

Note 8 - Notes and Loans Paya26

Note 8 - Notes and Loans Payable on Real Estate (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Debt [Table Text Block]	September 30, 2017 Interest Rate December 31, 2016 Interest Rate Payment Terms/ Frequency Maturity Date Tahoe Stateline Venture, LLC Loan Payable $ 13,341,886 3.47% $ 13,634,889 3.47% Amortizing Monthly January 2021 Zalanta Construction Loan Payable 16,724,325 5.75% 20,213,560 5.25% Interest Monthly Principal Quarterly August 2018 Principal amount $ 30,066,211 $ 33,848,449 Less unamortized deferred financing costs (285,421 ) (462,515 ) Notes and loans payable, net $ 29,780,790 $ 33,385,934
Schedule of Maturities of Long-term Debt [Table Text Block]	Twelve months ending September 30: 201 8 $ 17,127,030 201 9 416,904 20 20 431,603 20 21 12,090,674 202 2 — Thereafter — Total $ 30,066,211

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three and Nine Months Ended September 30, 201 7 Federal State and Local Total Three Months: Deferred expense $ 1,050,920 $ 224,780 $ 1,275,700 Income tax expense $ 1,050,920 $ 224,780 $ 1,275,700 Nine Months: Deferred expense $ 1,846,792 $ 243,035 $ 2,089,827 Income tax expense $ 1,846,792 $ 243,035 $ 2,089,827 Three and Nine Months Ended September 30, 2016 Federal State and Local Total Three Months: Deferred expense (benefit) $ 193,509 $ (454,357 ) $ (260,848 ) Income tax expense (benefit) $ 193,509 $ (454,357 ) $ (260,848 ) Nine Months: Deferred expense (benefit) $ (6,242,655 ) $ (1,387,028 ) $ (7,629,683 ) Income tax expense (benefit) $ (6,242,655 ) $ (1,387,028 ) $ (7,629,683 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Tax (benefit) expense at Federal statutory rate $ (58,503 ) $ (377,277 ) $ 28,646 $ (377,277 ) State income tax expense, net of federal effect 148,355 (299,876 ) 163,289 (915,439 ) Real estate basis differences — — (6,725,771 ) Other 117 27,590 (19,706 ) 89 Change in valuation allowance 1,185,731 388,715 1,917,598 388,715 Income tax expense (benefit) $ 1,275,700 $ (260,848 ) $ 2,089,827 $ (7,629,683 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred tax assets (liabilities): As of September 30, 201 7 As of December 31 , 2016 Real estate basis differences $ 6,051,703 $ 6,154,411 Net operating losses 1,978,163 1,889,310 Total deferred tax assets 8,029,866 8,043,721 Valuation allowance (2,870,716 ) (794,744 ) Net deferred tax assets $ 5,159,150 $ 7,248,977

Note 13 - Fair Value (Tables)

Note 13 - Fair Value (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Fair Value Measurements, Nonrecurring [Table Text Block]	Fair Value Measurements Using Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 201 7 Nonrecurring : Impaired loans: Residential $ 2,154,303 $ — $ — $ 2,154,303 Total impaired loans $ 2,154,303 $ — $ — $ 2,154,303 Real estate properties: Commercial $ 3,336,400 — — 3,336,400 Total real estate properties $ 3,336,400 $ — $ — $ 3,336,400 December 31, 201 6 Nonrecurring : Impaired loans: Residential $ 4,413,000 $ — $ — $ 4,413,000 Total impaired loans $ 4,413,000 $ — $ — $ 4,413,000 Real estate properties: Land $ 139,498 $ — $ — $ 139,498 Commercial 732,539 732,539 Total real estate properties $ 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: Residential $ 2,154,303 Appraisal Comparable Sales Adjustment (4.6)% to 4.2% N/A Real Estate Properties: Commercial $ 3,336,400 Appraisal Comparable Sales Adjustment (16.7)% to (40.6)% (23.5 )% 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 September 30 , 201 7 Carrying Value Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 24,368,000 $ 24,368,000 $ — $ — $ 24,368,000 Restricted cash 3,500,000 3,500,000 — — 3,500,000 Loans , net 134,917,000 — — 130,730,000 130,730,000 Investment in limited liability company 2,188,000 — — 2,650,000 2,650,000 Accrued i nterest and advances receivable 1,435,000 — — 1,435,000 1,435,000 Financial liabilities Accrued interest payable $ 112,000 $ — $ 73,000 $ 39,000 $ 112,000 Line of credit payable — — — — — Note s and loans payable 29,781,000 — 16,724,000 12,610,000 29,334,000 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 i nterest 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 Line of credit payable 4,976,000 4,976,000 — 4,976,000 Note s 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	Sep. 30, 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 Significa30

Note 2 - Summary of Significant Accounting Policies (Details Textual)	9 Months Ended
	Sep. 30, 2017
Number of Operating Segments	1

Note 3 - Loans and Allowance 31

Note 3 - Loans and Allowance for Loan Losses (Details Textual) xbrli-pure in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016	Sep. 30, 2017USD ($)	Sep. 30, 2016	Dec. 31, 2016USD ($)
Financing Receivable, Recorded Investment, Current	$ 133,665,780		$ 133,665,780		$ 121,735,198
Financing Receivable, Recorded Investment, Past Due	3,389,163		3,389,163		7,947,113
Allowance for Loan and Lease Losses, Real Estate	2,138,356		2,138,356		2,706,822
Loans and Leases Receivable, Impaired, Commitment to Lend	$ 0		$ 0
Financing Receivable, Modifications, Number of Contracts	0	0	0	0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts	0	0	0	0
Extended Maturity [Member]
Allowance for Loan and Lease Losses, Real Estate	$ 359,000		$ 359,000		733,000
Financing Receivable, Modifications, Recorded Investment	2,731,000		2,731,000		5,374,000
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due	2,244,163		2,244,163		4,883,866
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due	1,145,000		1,145,000		3,063,247
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	117,582,116		117,582,116		102,442,111
Financing Receivable, Recorded Investment, Past Due	1,145,000		1,145,000
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due	1,145,000		1,145,000
Residential Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Current	11,988,664		11,988,664		12,134,564
Financing Receivable, Recorded Investment, Past Due	2,244,163		2,244,163		6,867,113
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due	2,244,163		2,244,163		4,883,866
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due					1,983,247
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member]
Financing Receivable, Recorded Investment, Current	7,644,000		7,644,000		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					3,675,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Current	1,585,000		1,585,000
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 Receivable, Recorded Investment, Current	6,059,000		6,059,000
Interest Payments only and In the process of being Extended, Paid Off or Refinanced [Member] | Residential Portfolio Segment [Member] | Financing Receivables, 1 to 29 Days Past Due [Member]
Financing Receivable, Recorded Investment, Current	4,119,000		4,119,000
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	1,940,000		1,940,000		5,011,000
Past Maturity Loans [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due	$ 2,026,432		$ 2,026,432		$ 6,639,000

Note 3 - Loans and Allowance 32

Note 3 - Loans and Allowance for Loan Losses - Allocation of the Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Dec. 31, 2016
Beginning balance	$ 2,621,455	$ 1,780,921	$ 2,706,822	$ 1,842,446
Charge-offs	(86,119)		(373,766)	(447,520)
Provision (Reversal)	(396,980)	(38,966)	(221,700)	347,029
Recoveries			27,000
Ending Balance	2,138,356	1,741,955	2,138,356	1,741,955
Ending balance: individually evaluated for impairment - allowance for loan losses					$ 358,946	$ 732,712
Ending balance: collectively evaluated for impairment - allowance for loan losses					1,779,410	1,974,110
Ending balance	2,621,455	1,780,921	2,138,356	1,741,955	2,138,356	2,706,822
Ending balance: individually evaluated for impairment - loans					2,244,163	4,883,866
Ending balance: collectively evaluated for impairment - loans					134,810,780	124,798,445
Ending balance - loans					137,054,943	129,682,311
Commercial Portfolio Segment [Member]
Beginning balance	1,149,989	764,900	864,971	1,140,530
Charge-offs				(447,520)
Provision (Reversal)	(147,516)	(50,112)	110,502	21,778
Recoveries			27,000
Ending Balance	1,002,473	714,788	1,002,473	714,788
Ending balance: individually evaluated for impairment - allowance for loan losses
Ending balance: collectively evaluated for impairment - allowance for loan losses					1,002,473	864,971
Ending balance	1,149,989	764,900	1,002,473	714,788	1,002,473	864,971
Ending balance: individually evaluated for impairment - loans
Ending balance: collectively evaluated for impairment - loans					118,727,116	102,442,111
Ending balance - loans					118,727,116	102,442,111
Residential Portfolio Segment [Member]
Beginning balance	1,017,016	604,329	1,331,318	455,587
Charge-offs	(86,119)		(373,766)
Provision (Reversal)	(40,040)	11,146	(66,695)	159,888
Recoveries
Ending Balance	890,857	615,475	890,857	615,475
Ending balance: individually evaluated for impairment - allowance for loan losses					358,946	732,712
Ending balance: collectively evaluated for impairment - allowance for loan losses					531,911	598,606
Ending balance	1,017,016	604,329	890,857	615,475	890,857	1,331,318
Ending balance: individually evaluated for impairment - loans					2,244,163	4,883,866
Ending balance: collectively evaluated for impairment - loans					11,988,664	14,117,811
Ending balance - loans					14,232,827	19,001,677
Land Portfolio Segment [Member]
Beginning balance	454,450	411,692	510,533	246,329
Charge-offs
Provision (Reversal)	(209,424)		(265,507)	165,363
Recoveries
Ending Balance	245,026	411,692	245,026	411,692
Ending balance: individually evaluated for impairment - allowance for loan losses
Ending balance: collectively evaluated for impairment - allowance for loan losses					245,026	510,533
Ending balance	$ 454,450	$ 411,692	$ 245,026	$ 411,692	245,026	510,533
Ending balance: individually evaluated for impairment - loans
Ending balance: collectively evaluated for impairment - loans					4,095,000	8,238,523
Ending balance - loans					$ 4,095,000	$ 8,238,523

Note 3 - Loans and Allowance 33

Note 3 - Loans and Allowance for Loan Losses - Aging Analysis of the Loan Portfolio by the Time Past Due (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Past due loans	$ 3,389,163	$ 7,947,113
Current loans	133,665,780	121,735,198
Total Loans	137,054,943	129,682,311
Financing Receivables, 30 to 59 Days Past Due [Member]
Past due loans	1,145,000	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	2,244,163	4,883,866
Commercial Portfolio Segment [Member]
Past due loans	1,145,000
Current loans	117,582,116	102,442,111
Total Loans	118,727,116	102,442,111
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due loans	1,145,000
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	2,244,163	6,867,113
Current loans	11,988,664	12,134,564
Total Loans	14,232,827	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	2,244,163	4,883,866
Land Portfolio Segment [Member]
Past due loans		1,080,000
Current loans	4,095,000	7,158,523
Total Loans	4,095,000	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 34

Note 3 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Recorded investment, with no related allowance	$ 217,731		$ 217,731		$ 228,349
Unpaid principal balance, with no related allowance	217,731		217,731		228,349
Recorded investment, with related allowance	2,513,249		2,513,249		5,145,712
Unpaid principal balance, with related allowance	2,026,432		2,026,432		4,655,517
Related allowance	358,946		358,946		732,712
Recorded investment	2,730,980		2,730,980		5,374,061
Unpaid principal balance	2,244,163		2,244,163		4,883,866
Average recorded investment, with no related allowance	218,940	$ 8,290,283	222,503	$ 8,542,679
Interest income recognized, with no related allowance	4,841	24,210	14,734	34,641
Average recorded investment, with related allowance	2,702,068		3,631,609	1,153,713
Interest income recognized, with related allowance
Average recorded investment	2,921,008	8,290,283	3,854,112	9,696,392
Interest income recognized	4,841	24,210	14,734	34,641
Commercial Portfolio Segment [Member]
Recorded investment, with no related allowance
Unpaid principal balance, with no related allowance
Recorded investment, with related allowance
Unpaid principal balance, with related allowance
Related allowance
Recorded investment
Unpaid principal balance
Average recorded investment, with no related allowance		1,444,271		1,926,261
Interest income recognized, with no related allowance		19,093		19,093
Average recorded investment, with related allowance				1,153,713
Interest income recognized, with related allowance
Average recorded investment		1,444,271		3,079,974
Interest income recognized		19,093		19,093
Residential Portfolio Segment [Member]
Recorded investment, with no related allowance	217,731		217,731		228,349
Unpaid principal balance, with no related allowance	217,731		217,731		228,349
Recorded investment, with related allowance	2,513,249		2,513,249		5,145,712
Unpaid principal balance, with related allowance	2,026,432		2,026,432		4,655,517
Related allowance	358,946		358,946		732,712
Recorded investment	2,730,980		2,730,980		5,374,061
Unpaid principal balance	2,244,163		2,244,163		4,883,866
Average recorded investment, with no related allowance	218,940	6,846,012	222,503	6,616,418
Interest income recognized, with no related allowance	4,841	5,117	14,734	15,548
Average recorded investment, with related allowance	2,702,068		3,631,609
Interest income recognized, with related allowance
Average recorded investment	2,921,008	6,846,012	3,854,112	6,616,418
Interest income recognized	4,841	5,117	14,734	15,548
Land Portfolio Segment [Member]
Recorded investment, with no related allowance
Unpaid principal balance, with no related allowance
Recorded investment, with related allowance
Unpaid principal balance, with related allowance
Related allowance
Recorded investment
Unpaid principal balance
Average recorded investment, with no related allowance
Interest income recognized, with no related allowance
Average recorded investment, with related allowance
Interest income recognized, with related allowance
Average recorded investment
Interest income recognized

Note 4 - Investment in Limite35

Note 4 - Investment in Limited Liability Company (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jul. 31, 2008
Proceeds from Equity Method Investment, Distribution			$ 90,000	$ 87,000
Income (Loss) from Equity Method Investments			137,321	133,114
1850 [Member]
Number of Real Estate Properties					2
Number of Companies					2
Proceeds from Equity Method Investment, Distribution	$ 0	$ 0	90,000	87,000
Income (Loss) from Equity Method Investments	$ 47,000	$ 46,000	$ 137,000	$ 133,000

Note 5 - Real Estate Held for36

Note 5 - Real Estate Held for Sale (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale	3	0	6	4
Real Estate Properties, Transfer to Held for Investment from Held for Sale	$ 9,240,000		$ 11,085,000	$ 10,052,000
Impairment of Real Estate	367,831	$ 1,094,071	649,457	$ 3,204,221
Number of Real Estate Properties Sold		4		6
Proceeds from Sale of Other Real Estate		$ 79,256,000		$ 85,735,000
Gain (Loss) on Sale of Properties	$ 582,496	20,195,367	$ 14,460,030	25,034,182
Gain (Loss) on Sale of Properties, Attributable to Parent		16,479,000		21,318,000
Gain (Loss) on Sale of Properties, Attributable to Noncontrolling Interest		3,716,000		$ 3,716,000
Land Property [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale	1		3	1
Number of Real Estate Properties Sold			2
Assisted Care Facility [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale	1		1
Marinas [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale			2
Marina Iselton California Undeveloped Parcel South Lake Tahoe California [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale	1
Impairment of Real Estate	$ 154,000		$ 154,000
Land and Land Improvements [Member]
Real Estate Properties, Transfer to Held for Sale from Held for Investment		6,066,000
Office Property [Member]
Number of Real Estate Properties Transferred from Held for Investment to Held for Sale				1
Number of Real Estate Properties Sold			1
Golf Course [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
Number of Real Estate Properties Sold	1		7
Proceeds from Sale of Other Real Estate	$ 1,701,000		$ 10,579,000
Gain (Loss) on Sale of Properties	330,000		997,000
Marina Property Located in Bethel Island, California [Member]
Impairment of Real Estate	$ 214,000		$ 495,000
Medical Office Condominium Complex, Gilbert, Arizona [Member]
Impairment of Real Estate		$ 1,094,000		$ 1,094,000
Unimproved Residential and Commercial Land Located in Gypsum Colorado [Member]
Impairment of Real Estate				2,110,000
Office Condominium Complex, Roseville, California [Member]
Number of Real Estate Properties Sold	1		1
Proceeds from Sale of Other Real Estate	$ 586,000		$ 586,000
Gain (Loss) on Sale of Properties	$ 252,000		$ 252,000
Land and Office Property [Member]
Number of Real Estate Properties Sold			3
Proceeds from Sale of Other Real Estate			$ 43,201,000
Gain (Loss) on Sale of Properties			$ 13,211,000
Residential [Member]
Number of Real Estate Properties Sold		2
Improved Residential Lots [Member]
Number of Real Estate Properties Sold		2
Foreclosed [Member]
Mortgage Loans on Real Estate, Number of Loans	0		0
Office Property in Oakdale, California [Member]
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				48,000
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

Note 5 - Real Estate Held for37

Note 5 - Real Estate Held for Sale - Properties Acquired Through Foreclosure (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Real estate held for sale	$ 56,808,874	$ 75,843,635
Residential [Member]
Real estate held for sale	24,364,833
Improved and Unimproved Land [Member]
Real estate held for sale	13,775,522	73,140,659
Retail Site [Member]
Real estate held for sale	7,632,893
Golf Course [Member]
Real estate held for sale	1,999,449	1,970,437
Marinas [Member]
Real estate held for sale	3,336,400
Assisted Care Facility [Member]
Real estate held for sale	5,699,777
Office Building [Member]
Real estate held for sale		$ 732,539

Note 6 - Real Estate Held for38

Note 6 - Real Estate Held for Investment (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Depreciation	$ 288,000	$ 286,000	$ 872,000	$ 904,000
Minimum [Member]
Remaining Term on Lease			1 year
Maximum [Member]
Remaining Term on Lease			8 years

Note 6 - Real Estate Held for39

Note 6 - Real Estate Held for Investment - Real Estate Held for Investment (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Real estate held for investment	$ 25,559,767	$ 37,279,763
Land and land improvements	5,977,198	11,520,339
Buildings and improvements	22,718,486	28,910,851
Less: Accumulated depreciation	(3,135,917)	(3,151,427)
Real estate held for investment	25,559,767	37,279,763
Retail Site [Member]
Real estate held for investment	16,783,873	16,829,995
Improved and Unimproved Land [Member]
Real estate held for investment	2,844,504	4,234,806
Residential [Member]
Real estate held for investment	2,369,105	2,405,439
Assisted Care Facility [Member]
Real estate held for investment		5,820,709
Office Building [Member]
Real estate held for investment	3,562,285	3,962,869
Marinas [Member]
Real estate held for investment		$ 4,025,945

Note 6 - Real Estate Held for40

Note 6 - Real Estate Held for Investment - Future Minimum Rental Income From Noncancellable Operating Leases (Details)	Sep. 30, 2017USD ($)
2,018	$ 2,208,825
2,019	1,807,328
2,020	839,429
2,021	730,588
2,022	600,176
Thereafter (through 2024)	1,119,267
Total	$ 7,305,613

Note 7 - Line of Credit Payab41

Note 7 - Line of Credit Payable (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	Mar. 31, 2016	Apr. 30, 2014	Feb. 28, 2014	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Restricted Cash and Cash Equivalents				$ 3,500,000		$ 3,500,000		$ 6,500,000
Interest Expense				471,942	$ 960,861	1,120,917	$ 2,649,616
Debt Issuance Costs, Net				285,421		285,421		462,515
Non-interest Bearing Deposit Required Under CB&T Credit Facility [Member]
Restricted Cash and Cash Equivalents				3,500,000		3,500,000
Contingency Reserves [Member]
Restricted Cash and Cash Equivalents				3,733,000		3,733,000		$ 3,738,000
CB & T Credit Facility [Member]
Line of Credit Facility Maximum Borrowing Capacity Additional Amount				75,000,000		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				40,000	307,000	271,000	799,000
Amortization of Debt Issuance Costs				$ 40,000	32,000	$ 117,000	98,000
CB & T Credit Facility [Member] | Prime Rate [Member]
Debt Instrument, Interest Rate, Stated Percentage				4.50%		4.50%
Revolving Credit Facility [Member] | Opus Credit Facility [Member]
Debt Issuance Costs, Line of Credit Arrangements, Gross		$ 231,000
Interest Expense					130,000		364,000
Amortization of Debt Issuance Costs					64,000		103,000
Debt Issuance Costs, Net					$ 45,000		$ 45,000
Revolving Credit Facility [Member] | Contingency Reserves [Member] | Opus Credit Facility [Member] | Minimum [Member]
Loan Processing Fee		$ 100,000

Note 7 - Line of Credit Payab42

Note 7 - Line of Credit Payable - Credit Facilities (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Lines of credit payable		$ 4,976,000
CB and T [Member]
Lines of credit payable		4,976,000
Lines of credit, commitment	$ 38,936,606	$ 22,625,000

Note 7 - Line of Credit Payab43

Note 7 - Line of Credit Payable - Loans Securing Credit Facility (Details) - CB and T [Member]	Sep. 30, 2017USD ($)
Carrying amount of loans securing CB&T Facility	$ 59,105,756
Commercial Loan [Member]
Carrying amount of loans securing CB&T Facility	56,160,649
Residential Real Estate [Member]
Carrying amount of loans securing CB&T Facility	$ 2,945,107

Note 8 - Notes and Loans Paya44

Note 8 - Notes and Loans Payable on Real Estate (Details Textual) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Aug. 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2014	Dec. 31, 2016
Interest Expense			$ 471,942	$ 960,861	$ 1,120,917	$ 2,649,616
Repayments of Notes Payable					13,873,448	33,384,892
Debt Issuance Costs, Net	$ 285,421		285,421		285,421			$ 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		$ 3,830,000		$ 3,830,000
Debt Instrument, Interest Rate, Stated Percentage	3.47%		3.47%		3.47%
Debt Instrument, Amortization Period					25 years
Debt Issuance Costs, Gross	$ 218,000		$ 218,000		$ 218,000
Interest Expense			125,000	128,000	378,000	388,000
Amortization of Debt Issuance Costs			9,000	9,000	27,000	27,000
TSV Credit Agreement [Member] | Tahoe Stateline Venture, LLC [Member] | Closing Fee [Member]
Debt Issuance Costs, Gross	108,750		108,750		$ 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]
Interest Expense			307,000		$ 472,000
Amortization of Debt Issuance Costs			50,000		74,000
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
Repayments of Notes Payable	$ 3,000,000		$ 4,802,000		13,580,000
Debt Agreement, Origination Fee Obligation		310,000
Debt Issuance Costs, Net		$ 400,000		33,000		33,000
Deferred Financing Costs, Capitalized					76,000
Interest Costs Capitalized				$ 72,000	$ 472,000	$ 72,000
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	5.75%		5.75%		5.75%
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 Paya45

Note 8 - Notes and Loans Payable on Real Estate - Notes and Loans Payable Outstanding (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Debt instrument, outstanding	$ 30,066,211	$ 33,848,449
Less unamortized deferred financing costs	(285,421)	(462,515)
Notes and loans payable, net	29,780,790	33,385,934
Tahoe Stateline Venture, LLC [Member] | TSV Credit Agreement [Member]
Debt instrument, outstanding	$ 13,341,886	$ 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	$ 16,724,325	$ 20,213,560
Debt Instrument, Interest Rate, Stated Percentage	5.75%	5.25%

Note 8 - Notes and Loans Paya46

Note 8 - Notes and Loans Payable on Real Estate - Notes and Loans Payable Maturities (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
2,018	$ 17,127,030
2,019	416,904
2,020	431,603
2,021	12,090,674
2,022
Total	$ 30,066,211	$ 33,848,449

Note 9 - Transactions With Af47

Note 9 - Transactions With Affiliates (Details Textual) - USD ($)	Aug. 07, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Management Fee Expense		$ 827,281	$ 808,247	$ 2,781,474	$ 2,398,911
Professional and Contract Services Expense		93,179	73,477	270,834	218,083
Due to Related Parties		334,648		334,648		$ 360,627
Interim Management Fee, Input, Percentage of Opening Stockholders' Equity Balance	1.50%
Existing Management Fee		1,025,000
Difference Between Interim and Existing Management Fee		198,000
Late Fee Income Generated by Servicing Financial Assets, Amount		15,000	2,000	37,000	8,000
Ancillary Fee Income Generated by Servicing Financial Assets, Amount		4,000	5,000	14,000	14,000
Loan Fees Earned by OFG		157,000	120,000	1,313,000	1,372,000
Refund on Loan Fees Earned by OFG Due to Early Repayment		194,000
Owens Financial Group Inc. [Member]
Due to Related Parties		34,000		34,000		36,000
Loans Originated or Extended		7,369,000	5,140,000	70,380,000	59,305,000
Related Party Transaction, Amounts of Transaction		96,000	$ 113,000	286,000	332,000
OFG Officers [Member]
Related Party Transaction, Amounts of Transaction				2,000	0
Investors Yield Inc. [Member]
Related Party Transaction, Amounts of Transaction				$ 1,000	$ 3,000
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		$ 300,000		$ 300,000		$ 324,000

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Details Textual) - USD ($)	Oct. 13, 2017	Sep. 13, 2017	Jul. 13, 2017	Jun. 13, 2017	Apr. 13, 2017	Mar. 16, 2017	Oct. 31, 2017	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 09, 2017	Dec. 11, 2015
Common Stock, Dividends, Per Share, Declared		$ 0.10		$ 0.10		$ 0.08		$ 0.10		$ 0.08	$ 0.28	$ 0.24
Payments of Dividends			$ 1,024,748		$ 819,798						$ 3,240,651	$ 3,773,051
Undistributed Net Realized Gain (Loss) on Sale of Properties								$ 3,306,000			$ 3,306,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent											35.00%
Treasury Stock, Value, Acquired, Cost Method											$ 3,197,118
The 2016 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount														$ 7,500,000
Treasury Stock, Shares, Acquired									0
The 2017 Repurchase Plan [Member]
Stock Repurchase Program, Authorized Amount													$ 10,000,000
Treasury Stock, Shares, Acquired											183,564
Treasury Stock, Value, Acquired, Cost Method											$ 3,197,000
Treasury Stock Acquired, Average Cost Per Share											$ 17.42
Subsequent Event [Member]
Payments of Dividends	$ 1,012,782
Payments of Dividends, Net	1,006,391
Payment of Dividends, Treasury Shares	$ 6,391
Subsequent Event [Member] | The 2017 Repurchase Plan [Member]
Treasury Stock, Shares, Acquired							12,774
Treasury Stock, Value, Acquired, Cost Method							$ 230,000
Treasury Stock Acquired, Average Cost Per Share							$ 17.99

Note 11 - Contingency Reserves

Note 11 - Contingency Reserves (Details Textual) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Contingency Reserves as a Percent of Capital	1.50%
Restricted Cash and Cash Equivalents	$ 3,500,000	$ 6,500,000
Contingency Reserves [Member]
Restricted Cash and Cash Equivalents	$ 3,733,000	$ 3,738,000

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Number of Real Estate Properties Sold	4		6
Deferred Tax Assets, Net	$ 7,630,000		$ 7,630,000
Deferred Tax Assets, Real Estate, Difference Between Book Value and Tax Basis	$ 20,513,000		$ 20,513,000
Deferred Tax Assets, Valuation Allowance		$ 2,870,716		$ 794,744
Deferred Tax Assets, Operating Loss Carryforwards		1,978,163		1,889,310
Federal and State NOLs in ZRV [Member]
Deferred Tax Assets, Valuation Allowance		2,871,000		795,000
Lone Star Golf, Inc., Zalanta Resort and East G, LLC [Member]
Current Income Tax Expense (Benefit)		0		$ 0	$ 0
Zalanta [Member]
Number of Real Estate Properties Sold				2
Baldwin Ranch Subdivision, LLC [Member]
Number of Real Estate Properties				75
Zalanta Resort at the Village, LLC [Member] | State and Local Jurisdiction [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards		5,737,000
Zalanta Resort at the Village, LLC [Member] | State and Local Jurisdiction [Member] | California Franchise Tax Board [Member]
Operating Loss Carryforwards		474,000
Zalanta Resort at the Village, LLC [Member] | State and Local Jurisdiction [Member] | Arizona Department of Revenue [Member]
Operating Loss Carryforwards		3,511,000
Deferred Tax Assets, Operating Loss Carryforwards		$ 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 12 - Income Taxes - Income

Note 12 - Income Taxes - Income Tax (Benefit) Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Deferred expense (benefit), federal	$ 1,050,920	$ 193,509	$ 1,846,792	$ (6,242,655)
Deferred expense (benefit), state and local	224,780	(454,357)	243,035	(1,387,028)
Deferred income tax expense (benefit)	1,275,700	(260,848)	2,089,827	(7,629,683)
Income tax expense (benefit), federal	1,050,920	193,509	1,846,792	(6,242,655)
Income tax expense (benefit), state and local	224,780	(454,357)	243,035	(1,387,028)
Income tax expense (benefit)	$ 1,275,700	$ (260,848)	$ 2,089,827	$ (7,629,683)

Note 12 - Income Taxes - Reconc

Note 12 - Income Taxes - Reconciliation of Income Tax (Benefit) Provision (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Tax (benefit) expense at Federal statutory rate	$ (58,503)	$ (377,277)	$ 28,646	$ (377,277)
State income tax expense, net of federal effect	148,355	(299,876)	163,289	(915,439)
Real estate basis differences				(6,725,771)
Other	117	27,590	(19,706)	89
Change in valuation allowance	1,185,731	388,715	1,917,598	388,715
Income tax expense (benefit)	$ 1,275,700	$ (260,848)	$ 2,089,827	$ (7,629,683)

Note 12 - Income Taxes - Deferr

Note 12 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Real estate basis differences	$ 6,051,703	$ 6,154,411
Net operating losses	1,978,163	1,889,310
Total deferred tax assets	8,029,866	8,043,721
Valuation allowance	(2,870,716)	(794,744)
Net deferred tax assets	$ 5,159,150	$ 7,248,977

Note 13 - Fair Value (Details T

Note 13 - Fair Value (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Liabilities, Fair Value Disclosure, Recurring	$ 0		$ 0		$ 0
Allowance for Loan and Lease Losses, Adjustments, Other	396,980	$ 38,966	221,700	$ (347,029)
Impairment of Real Estate	367,831	1,094,071	649,457	3,204,221
Liabilities, Fair Value Disclosure, Nonrecurring	0		0		0
Assets, Fair Value Disclosure, Recurring	0		0		$ 0
Excluding Loan Loss Reversal Foreclosed Loan [Member]
Allowance for Loan and Lease Losses, Adjustments, Other	$ 0	$ 0	$ 0	$ 38,000

Note 13 - Fair Value - Assets a

Note 13 - Fair Value - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Impaired Loans [Member]
Assets at fair value	$ 2,154,303	$ 4,413,000
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	2,154,303	4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member]
Assets at fair value	2,154,303	4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	2,154,303	4,413,000
Real Estate Properties [Member]
Assets at fair value	3,336,400	872,037
Real Estate Properties [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value
Real Estate Properties [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value
Real Estate Properties [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	3,336,400	872,037
Real Estate Properties [Member] | Commercial Portfolio Segment [Member]
Assets at fair value	3,336,400	732,539
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value	$ 3,336,400	732,539
Real Estate Properties [Member] | Land Portfolio Segment [Member]
Assets at fair value		139,498
Real Estate Properties [Member] | Land Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member]
Assets at fair value
Real Estate Properties [Member] | Land Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member]
Assets at fair value
Real Estate Properties [Member] | Land Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Assets at fair value		$ 139,498

Note 13 - Fair Value - Level 3

Note 13 - Fair Value - Level 3 Fair Value Measurements for Financial Instruments (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Impaired Loans [Member]
Assets at fair value	$ 2,154,303	$ 4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member]
Assets at fair value	2,154,303	4,413,000
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member]
Assets at fair value	$ 2,154,303
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Minimum [Member]
Assets at fair value, comparable sales adjustment	(4.60%)
Impaired Loans [Member] | Residential Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Maximum [Member]
Assets at fair value, comparable sales adjustment	4.20%
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%
Real Estate Properties [Member]
Assets at fair value	$ 3,336,400	$ 872,037
Real Estate Properties [Member] | Commercial Portfolio Segment [Member]
Assets at fair value	3,336,400	732,539
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member]
Assets at fair value	$ 3,336,400	$ 732,539
Assets at fair value, comparable sales adjustment		7.30%
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Minimum [Member]
Assets at fair value, comparable sales adjustment	(16.70%)	(5.00%)
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Maximum [Member]
Assets at fair value, comparable sales adjustment	(40.60%)	5.00%
Real Estate Properties [Member] | Commercial Portfolio Segment [Member] | Cost Approach Valuation Technique [Member] | Weighted Average [Member]
Assets at fair value, comparable sales adjustment	(23.50%)
Real Estate Properties [Member] | Land Portfolio Segment [Member]
Assets at fair value		$ 139,498
Real Estate Properties [Member] | Land Portfolio Segment [Member] | Cost Approach Valuation Technique [Member]
Assets at fair value		$ 139,498
Assets at fair value, comparable sales adjustment		(33.70%)

Note 13 - Fair Value - Carrying

Note 13 - Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	$ 24,368,000	$ 434,000
Restricted cash	3,500,000	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	73,000	97,000
Line of credit payable		4,976,000
Notes and loans payable	16,724,000	20,213,000
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Restricted cash
Loans, net	130,730,000	126,652,000
Investment in limited liability company	2,650,000	2,650,000
Accrued interest and advances receivable	1,435,000	1,328,000
Accrued interest payable	39,000	40,000
Line of credit payable
Notes and loans payable	12,610,000	13,499,000
Reported Value Measurement [Member]
Cash and cash equivalents	24,368,000	434,000
Restricted cash	3,500,000	6,500,000
Loans, net	134,917,000	126,975,000
Investment in limited liability company	2,188,000	2,140,000
Accrued interest and advances receivable	1,435,000	1,328,000
Accrued interest payable	112,000	137,000
Line of credit payable		4,976,000
Notes and loans payable	29,781,000	33,386,000
Estimate of Fair Value Measurement [Member]
Cash and cash equivalents	24,368,000	434,000
Restricted cash	3,500,000	6,500,000
Loans, net	130,730,000	126,652,000
Investment in limited liability company	2,650,000	2,650,000
Accrued interest and advances receivable	1,435,000	1,328,000
Accrued interest payable	112,000	137,000
Line of credit payable		4,976,000
Notes and loans payable	$ 29,334,000	$ 33,712,000

Note 14 - Commitments and Con58

Note 14 - Commitments and Contingencies (Details Textual)	Sep. 30, 2017USD ($)
Contractual Obligation	$ 29,772,000
Interest Reserves [Member]
Contractual Obligation	$ 4,221,000