v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities:    
Net loss $ (246,454) $ (412,747)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 3,026,745 1,156,278
Stock compensation expense 81,405 65,000
Deferred rents (609,000) (176,513)
Amortization of deferred financing costs 518,391 36,504
Amortization of above-market lease 48,523 35,248
Amortization of below-market leases (169,135) (13,758)
Unrealized (gain) loss on interest rate swap valuation (220,571) 104,633
Income from investments in unconsolidated entities (93,485) (167,356)
Distributions from investments in unconsolidated entities 453,167 135,896
Change in operating assets and liabilities:    
Tenant receivables (245,400) (272,112)
Due from affiliates 7,746 79,219
Prepaid expenses and other assets (14,042) (5,576)
Accounts payable, accrued and other liabilities (509,586) 635,109
Due to affiliates (710,290) 231,737
Net cash provided by operating activities 1,318,014 1,431,562
Cash Flows from Investing Activities:    
Acquisition of real estate investments (31,103,595) (49,134,241)
Payment of acquisition fees to affiliate (930,000) (1,771,482)
Refundable purchase deposits (250,000) (1,500,000)
Additions to real estate investments (749,095) (193,191)
Net cash used in investing activities (33,032,690) (52,598,914)
Cash Flows from Financing Activities:    
Borrowings from unsecured credit facility 9,000,000 33,140,000
Repayments of unsecured credit facility (21,000,000) (34,065,618)
Proceeds from mortgage notes payable 37,845,000 19,454,988
Principal payments on mortgage notes payable (12,442,642) (86,898)
Refundable loan deposits (35,360) (125,100)
Payments of deferred financing costs (885,740) (541,691)
Proceeds from issuance of common stock and investor deposits 24,551,789 36,295,673
Payments of offering costs (829,325) (1,200,469)
Repurchase of common stock (3,662,982) (723,904)
Dividends paid to common stockholders (727,230) (252,319)
Net cash provided by financing activities 31,813,510 51,894,662
Net increase in cash, cash equivalents and restricted cash 98,834 727,310
Cash, cash equivalents and restricted cash, beginning of period 4,182,755 3,677,373
Cash, cash equivalents and restricted cash, end of period 4,281,589 4,404,683
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 1,852,121 350,750
Supplemental Schedule of Noncash Investing and Financing Activities:    
Reclassification to redeemable common stock 4,006,748 234,978
Increase in share repurchases payable 502,508 293,209
Purchase deposits applied to acquisition of real estate 0 500,000
Accrued dividends 643,202 0
Dividends paid to common stockholders through common stock issuances pursuant to the distribution reinvestment plan 2,668,673 1,059,184
Payable to seller for acquisition of real estate investment $ 0 $ 117,803