UNIPROP MANUFACTURED HOUSING INCOME FUND
A MICHIGAN LIMITED PARTNERSHIP
STATEMENTS OF INCOME		THREE MONTHS ENDED
		March 31,2004		March 31,2003
		(Unaudited)		(Unaudited)
Income:
Rental Income		$2,037,344		$2,113,837														--
Home Sale Income		215,485		244,735
Other		104,873		156,108
Total Income		$2,357,702		$2,514,680
Operating Expenses:
Administrative Expenses
(Including  $106,918 and $113,371 in Property Management
Fees Paid to An Affiliate for the Three Month Period
Ended March 31, 2004 and 2003, Respectively)		551,109		492,948
Property Taxes		243,867		230,940
Utilities		142,882		148,850
Property Operations		291,194		239,355
Depreciation And Amortization		238,714		229,412
Interest		657,298		651,884
Home Sale Expense		196,175		217,474
Total Operating Expenses		$2,321,239		$2,210,863
Net Income		$36,463		$303,817
Income Per Limited Partnership Unit:
Class A		($2.10)		$5.15
Class B		$7.34		$14.22
Distribution Per Limited Partnership Unit
Class A		$3.00		$3.00
Class B		$3.00		$3.00
Weighted Average Number Of Limited
Partnership Units Outstanding
Class A		20,230		20,230
Class B		9,770		9,770
STATEMENT OF PARTNER'S EQUITY (Deficit) (Unaudited)
	Total	General Partner		Class A Limited		Class B Limited	Total
Beginning Balance of December 31, 2003	(12,379,597)	(4,188,993)		(9,473,234)		1,282,630
Net Income	36,463	7,293		(42,530)		71,700
Distributions	(263,375)	(173,375)		(60,690)		(29,310)
Balance as of March 31, 2004	(12,606,509)	(4,355,075)		(9,576,454)		1,325,020	0
See Notes to Financial Statements
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