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CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Rental Properties	$ 149,759,026	$ 152,904,661
Cash and Cash Equivalents	13,744,651	14,013,380
Rents Receivable	568,560	496,149
Real Estate Tax Escrows	304,398	375,560
Prepaid Expenses and Other Assets	3,364,841	3,895,189
Investments in Unconsolidated Joint Ventures	9,343,093	12,025,142
Financing Fees	1,775,187	1,635,076
Total Assets	178,859,756	185,345,157
LIABILITIES AND PARTNERS' CAPITAL
Mortgage Notes Payable	196,103,164	198,520,478
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture	1,375,332	1,252,346
Accounts Payable and Accrued Expenses	2,908,670	3,178,495
Advance Rental Payments and Security Deposits	4,350,638	4,242,401
Total Liabilities	204,737,804	207,193,720
Commitments and Contingent Liabilities (Notes 3 and 9)
Partners' Capital 128,407 and 129,487 units outstanding in 2013 and 2012 respectively	(25,878,048)	(21,848,563)
Total Liabilities and Partners' Capital	$ 178,859,756	$ 185,345,157

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