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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash Flows from Operating Activities    
Net income $ 901,625 $ 626,953
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 1,454,131 1,495,048
Loss from investments in joint venture 316,857 403,117
Depreciation and amortization - discontinued operations 903 18,997
Change in operating assets and liabilities    
Decrease in rents receivable 83,323 10,955
Increase (Decrease) in accounts payable and accrued expense (395,448) 27,629
(Increase) Decrease in real estate tax escrow 104,067 (21,937)
Decrease in prepaid expenses and other assets 410,909 88,870
Increase (decrease) in advance rental payments and security deposits 91,751 (48,486)
Total Adjustments 2,066,493 1,974,193
Net cash provided by operating activities 2,968,118 2,601,146
Cash Flows from Investing Activities    
Proceeds from unconsolidated joint ventures 347,659 330,000
(Investment in) unconsolidated joint ventures (7,659)  
Improvement of rental properties (1,207,528) (365,918)
Net cash (used in) investing activities (867,528) (35,918)
Cash Flows from Financing Activities    
Payment of financing costs (140,162) (25,927)
Principal payments of note payable   (750,000)
Proceeds of mortgage notes payable 15,000,000  
Principal payments and payoffs of mortgage notes payable (19,188,118) (274,496)
Stock buyback (399,487)  
Distribution to partners (975,298) (986,134)
Net cash (used in) financing activities (5,703,065) (2,036,557)
Net (Decrease) Increase in Cash and Cash Equivalents (3,602,475) 528,671
Cash and Cash Equivalents, at beginning of period 6,981,906 4,050,157
Cash and Cash Equivalents, at end of period $ 3,379,431 $ 4,578,828