CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
Sep. 30, 2011	Sep. 30, 2010
Cash Flows from Operating Activities
Net income (loss)	$ 8,723,020	$ (1,378,896)
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	4,412,144	4,245,494
Loss from investments in joint ventures	1,443,374	3,169,926
Depreciation and amortization, discontinued operations	16,472	45,489
Gain on the sale of rental property	(7,706,948)
Changes in operating assets and liabilities
(Increase) Decrease in rents receivable	(25,030)	340,315
Increase (decrease) in accounts payable and accrued expense	(324,307)	40,265
(Increase) decrease in real estate tax escrow	(90,999)	56,824
(Increase) in prepaid expenses and other assets	(579,064)	(616,791)
Increase (decrease) in advance rental payments and security deposits	52,220	(61,201)
Total Adjustments	(2,802,138)	7,220,321
Net cash provided by operating activities	5,920,882	5,841,425
Cash Flows From Investing Activities
Proceeds from unconsolidated joint ventures	890,710	750,000
Investment in unconsolidated subsidiaries	(40,710)	(40,000)
Purchase and improvement of rental properties	(11,871,330)	(1,563,380)
Net proceeds from the sale of rental property	8,297,928
Net cash (used in) investing activities	(2,723,402)	(853,380)
Cash Flows From Financing Activities
Payment of financing costs	(101,689)	(7,143)
Proceeds of mortgage notes payable	5,000,000	904,122
Proceeds of notes payable	3,998,573
Principal payment of note payable	(4,998,573)
Principal payments of mortgage notes payable	(3,263,623)	(642,372)
Stock buyback		(540,911)
Distributions to partners	(2,761,176)	(2,767,209)
Net cash (used in) financing activities	(2,126,488)	(3,053,513)
Net Increase in Cash and Cash Equivalents	1,070,992	1,934,532
Cash and Cash Equivalents, at beginning of year	3,245,361	2,879,663
Cash and Cash Equivalents, at end of period	$ 4,316,353	$ 4,814,195

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

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Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

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The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or income taxes.

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The net cash inflow or outflow from financing activity for the period.

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The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

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