Condensed Consolidated Statements of Operations (USD $)	3 Months Ended	9 Months Ended
Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Income Statement Abstract
Rental income	$ 3,478,694	$ 2,540,074	$ 9,749,399	$ 6,857,016
Fee and other income	124,098	78,538	477,846	234,831
Total Revenues	3,602,792	2,618,612	10,227,245	7,091,847
Costs and expenses:
Rental operating costs	1,310,195	1,132,908	3,659,173	3,192,549
General and administrative	791,655	781,729	2,656,195	2,349,517
Depreciation and amortization	1,055,025	880,024	3,036,063	2,547,187
Total costs and expenses	3,156,875	2,794,661	9,351,431	8,089,253
Income (loss) from operations	445,917	(176,049)	875,814	(997,406)
Interest expense	810,508	538,063	2,306,595	1,414,127
Interest income	54,605	24,180	102,196	78,937
Loss on sale of real estate assets	(32,424)	0	(56,911)	0
Equity in earnings of real estate ventures	0	0	0	1,769
Net (Loss) income	(342,410)	(689,932)	(1,385,496)	(2,330,827)
Income attributable to noncontrolling interests	75,187	60,896	301,305	155,391
Net loss	(417,597)	(750,828)	(1,686,801)	(2,486,218)
Preferred Stock Dividends, Income Statement Impact	0	0	0	34,447
Net loss attributable to common shareholders	$ (417,597)	$ (750,828)	$ (1,686,801)	$ (2,520,665)
Earnings Per Share, Basic and Diluted	$ 0.03	$ 0.07	$ 0.13	$ 0.23
Weighted average number of common shares outstanding	13,409,931	11,509,003	13,027,349	10,964,396

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