UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND
A MICHIGAN LIMITED PARTNERSHIP
STATEMENTS OF INCOME (Unaudited)			NINE MONTHS ENDED			THREE MONTHS ENDED
			Sept. 30,2004	Sept. 30,2003		Sept. 30,2004	Sept. 30,2003
			(unaudited)	(unaudited)		(unaudited)	(unaudited)
Income:
Rental Income			$6,044,621	$6,281,306		$1,973,889	$2,060,571													--
Home Sale Income			$1,434,245	$1,276,035		$432,320	$396,379
Other			308,393	366,894		105,953	104,533
Total Income			$7,787,259	$7,924,235		$2,512,162	$2,561,483
Operating Expenses:
Administrative Expenses
(Including $316,947,$331,917,$103,722 and
$108,075 in Property Management
Fees Paid to An Affiliate for the Nine and Three Month Periods
Ended Sept. 30, 2004 and 2003, Respectively)			1,547,813	1,459,360		499,642	490,877
Property Taxes			731,601	693,254		243,867	231,377
Utilities			404,965	410,570		125,307	134,657
Property Operations			961,991	798,252		335,813	283,941
Depreciation And Amortization			714,405	701,923		237,531	243,029
Interest			1,974,475	1,986,633		659,046	667,642
Home Sale Expense			1,354,980	1,149,561		456,684	357,562
Total Operating Expenses			$7,690,230	$7,199,553		$2,557,890	$2,409,085
Net Income(Loss)			$97,029	$724,682		($45,728)	$152,398
Income (Loss) Per Limited Partnership Unit:
Class A			($6.61)	$10.28		($4.27)	$0.93
Class B			$21.64	$38.05		$5.11	$10.55
Distribution Per Limited Partnership Unit
Class A			$9.00	$9.00		$3.00	$3.00
Class B			$9.00	$9.00		$3.00	$3.00
Weighted Average Number Of Limited
Partnership Units Outstanding
Class A			20,230	20,230		20,230	20,230
Class B			9,770	9,770		9,770	9,770
STATEMENT OF PARTNERS' EQUITY(DEFICIT) (unaudited)
			General Partner		Class A Limited	Class B Limited	Total
Beginning Balance as of December 31, 2003			($4,188,993)		($9,473,234)	$1,282,630	($12,379,597)
Net Income (Loss)			19,406		(133,804)	211,427	$97,029
Distributions			(535,375)		(182,070)	(87,930)	($805,375)
Balance as of September 30,2004			($4,704,962)		($9,789,108)	$1,406,127	($13,087,943)
See Notes to Financial Statements
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