v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (98,983) $ (299,625) $ (511,730) $ (893,393)  
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:          
Depreciation and amortization 921,692 204,743 2,077,970 238,232  
Stock compensation expense     125,000 68,000  
Deferred rents     (620,748) 15,682  
Amortization of deferred financing costs     89,645 10,637  
Amortization of above-market lease     59,509 9,720  
Amortization of below-market leases     (37,213) 0  
Unrealized loss on interest rate swap valuation     100,006 0  
Equity in (earnings) losses from investment in unconsolidated entities (688) 4,300 (168,043) 4,300  
Distributions from investment in unconsolidated entities     204,212 0  
Change in operating assets and liabilities:          
Tenant receivables     (416,277) 0  
Due from affiliates     57,411 0  
Prepaid expenses and other assets     (589,261) (63,513)  
Accounts payable, accrued expenses and other liabilities     1,697,446 75,942  
Due to affiliates     478,445 1,649  
Net cash provided by (used in) operating activities     2,546,372 (532,744)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Acquisition of real estate investments     (62,245,697) (15,730,500)  
Additions to real estate investments     (685,161) 0  
Payments of acquisition fees to affiliate     (2,772,329) 0  
Repayment of amounts due from affiliate     28,571 0  
Investment in unconsolidated entities     (10,542,594) (2,000,000)  
Proceeds from acquisition closing payable to unconsolidated entity     363,168 0  
Refundable purchase deposits and other acquisition costs     0 (100,000)  
Net cash used in investing activities     (75,854,042) (17,830,500)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Borrowings from unsecured credit facility     43,390,000 11,000,000  
Repayments of unsecured credit facility     (46,428,064) (4,036,500)  
Proceeds from mortgage note payable     36,904,988 7,319,700  
Principal payments on mortgage notes payable     (218,599) (21,316)  
Refundable loan deposits     (44,550) 0  
Payments of deferred financing costs to third parties     (920,699) (176,063)  
Payment of financing fees to affiliates     (261,950) 0  
Proceeds from issuance of common stock and investor deposits     50,500,102 6,646,976  
Payments of offering costs     (1,675,149) (187,101)  
Payments to redeem common stock     (1,561,201) 0  
Distributions paid to common stockholders     (464,619) (4,852)  
Net cash provided by financing activities     79,220,259 20,540,844  
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     5,912,589 2,177,600  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD     3,677,373 200,815 $ 200,815
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 9,589,962 $ 2,378,415 9,589,962 2,378,415 $ 3,677,373
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:          
Cash paid for interest     756,783 192,327  
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES          
Transfers to redeemable common stock     214,642 33,311  
Distributions paid to common stockholders through common stock issuance pursuant to the distribution reinvestment plan     1,967,325 7,226  
Increase in deferred commissions payable to Class S distributor     2,400 0  
Increase in lease incentive obligation     0 535,500  
Reinvested distributions to investment in Rich Uncles REIT I     0 2,885  
Tax withholding on distributions     62 0  
Purchase deposits applied to acquisition of real estate     500,000 0  
Increase in share repurchases payable     $ 176,654 $ 8,315