v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities:    
Net loss $ (35,325) $ (457,324)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 1,314,276 430,859
Stock compensation expense 38,190 30,000
Deferred rents (303,476) (220)
Amortization of deferred financing costs 411,173 11,025
Amortization of above-market leases 24,261 8,331
Amortization of below-market leases (50,536) (8,505)
Unrealized gain on interest rate swap valuation (226,806) 0
Income from investments in unconsolidated entities (54,879) (7,957)
Distributions from investments in unconsolidated entities 248,002 67,580
Changes in operating assets and liabilities:    
Tenant receivables (64,852) 0
Due from affiliates (175,682) (29,380)
Prepaid expenses and other assets (86,098) (124,901)
Accounts payable, accrued and other liabilities (585,695) 174,159
Due to affiliates (414,409) 89,097
Net cash provided by operating activities 38,144 182,764
Cash Flows from Investing Activities:    
Acquisition of real estate investments (15,245,676) (19,550,108)
Additions to real estate investments (3,831) 0
Payments of acquisition fees to affiliate (456,000) (874,800)
Purchase deposits and other acquisition costs (617,707) (500,000)
Net cash used in investing activities (16,323,214) (20,924,908)
Cash Flows from Financing Activities:    
Borrowings on unsecured credit facility 9,000,000 14,240,000
Repayments of unsecured credit facility (12,000,000) (17,867,803)
Proceeds from mortgage notes payable 29,315,000 8,744,988
Principal payments on mortgage notes payable (12,225,822) (32,558)
Loan deposit (35,000) (25,000)
Payments of deferred financing costs to third parties (499,748) (234,876)
Payments of financing fees to affiliates (209,550) (87,450)
Proceeds from issuance of common stock and investor deposits 13,080,885 19,959,194
Payments of offering costs to affiliates (429,297) (528,675)
Payment of commissions to Class S distributor (150) 0
Payments to redeem common stock (1,683,343) (214,384)
Dividends paid to stockholders (335,216) (100,126)
Net cash provided by financing activities 23,977,759 23,853,310
Net increase in cash, cash equivalents and restricted cash 7,692,689 3,111,166
Cash, cash equivalents and restricted cash, beginning of period 4,182,755 3,677,373
Cash, cash equivalents and restricted cash, end of period 11,875,444 6,788,539
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 887,530 106,179
Supplemental Schedule of Noncash Investing and Financing Activities:    
Reclassification to redeemable common stock 4,006,748 107,276
Increase in share redemptions payable 473,076 151,864
Decrease in deferred commission payable to Class S common stock distributor (150) 0
Withholding tax on distributions 204 0
Accrued dividends 579,368 0
Increase in other offering costs due to affiliates 947 79,455
Distributions paid to common stockholders through common stock issuances pursuant to the distribution reinvestment plan $ 1,260,232 $ 386,736