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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities    
Net income $ 1,878,558 $ 1,894,234
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 3,507,091 2,973,056
Amortization of deferred finance costs 51,541 47,134
(Income) from investments in joint venture (1,100,900) (672,837)
Change in operating assets and liabilities    
Decrease in rents receivable (23,160) 111,764
(Decrease) in accounts payable and accrued expense (25,471) (1,133,932)
Decrease in insurance recovery receivable   495,794
Decrease (Increase) in real estate tax escrow 1,640 8,703
Decrease in prepaid expenses and other assets (523,530) 61,835
Increase in advance rental payments and security deposits 87,257 191,521
Total Adjustments 1,974,468 2,083,038
Net cash provided by operating activities 3,853,026 3,977,272
Cash Flows From Investing Activities    
Proceeds from unconsolidated joint ventures 1,770,000 1,204,248
Distribution in excess of investment in unconsolidated joint ventures 210,402 186,395
(Investment) in unconsolidated joint ventures (526,402) (2,277,645)
Improvement of rental properties (868,468) (1,141,542)
Purchase of rental property (13,213,294)  
Net cash (used in) investing activities (12,627,762) (2,028,544)
Cash Flows from Financing Activities    
Payment of financing costs (148,004)  
Proceeds of mortgage notes payable 83,684  
Proceeds of note payable 8,000,000  
Principal payments of mortgage notes payable (452,900) (434,018)
Stock buyback   (42,548)
Distributions to partners (1,119,481) (1,119,687)
Net cash (used in) financing activities 6,363,299 (1,596,253)
Net (Decrease) in Cash and Cash Equivalents (2,411,437) 352,475
Cash and Cash Equivalents, at beginning of period 7,238,905 7,463,697
Cash and Cash Equivalents, at end of period $ 4,827,468 $ 7,816,172