UNIPROP MANUFACTURED HOUSING COMMUNITES  INCOME FUND
A MICHIGAN LIMITED PARTNERSHIP
STATEMENTS OF OPERATIONS		THREE MONTHS ENDED
		March 31,2005		March 31,2004
		(Unaudited)		(Unaudited)
Income:
Rental Income		$1,938,347		$2,037,344														--
Home Sale Income		394,700		215,485
Other		103,262		104,873
Total Income		$2,436,309		$2,357,702
Operating Expenses:
Administrative Expenses
(Including  $101,811 and $106,918 in Property Management
Fees Paid to An Affiliate for the Three Month Period
Ended March 31, 2005 and 2004, Respectively)		502,452		551,109
Property Taxes		244,308		243,867
Utilities		141,221		142,882
Property Operations		312,316		291,194
Depreciation And Amortization		253,899		238,714
Interest		641,384		657,298
Home Sale Expense		399,070		196,175
Total Operating Expenses		$2,494,650		$2,321,239
Net Income (Loss)		($58,341)		$36,463
Income (Loss) Per Limited Partnership Unit:
Class A		($4.83)		($2.10)
Class B		$5.22		$7.34
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, 2004	(13,349,683)	(4,884,110)		(9,907,130)		1,441,557
Net Income	(58,341)	(11,668)		(97,627)		50,954
Distributions	(271,000)	(181,000)		(60,690)		(29,310)
Balance as of March 31, 2005	(13,679,024)	(5,076,778)		(10,065,447)		1,463,201	0
See Notes to Financial Statements
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