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Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:    
Net loss $ (2,616,903) $ (2,989,349)
Adjustments to reconcile net loss to net cash    
Depreciation amortization and amortization of above market rents 4,219,950 3,437,707
Bargain purchase gain 0 (872,862)
Impairment of Real Estate 429,000 1,000,000
Stock compensation 387,642 322,442
Loss on sale of real estate assets (119,925) 0
Bad debt expense 66,609 147,459
Net Income Loss Attributable To Noncontrolling Interest 354,895 (139,145)
Equity in earnings of real estate ventures 0 (1,769)
Other assets (1,908,519) (479,396)
IncreaseDecreaseInAccounts Payable And Accrued Liabilities 501,846 283,426
Net cash provided by (used in) operating activities 1,314,595 708,513
Cash flows from investing activities:    
Real estate acquisitions (38,992,609) (21,434,271)
Acquisition of company 0 (300,000)
Investment in model home limited partnerships (442,825) (896,893)
Purchase of notes receivable (111,866) 0
Restricted cash (667,645) (2,647)
Proceeds received from sale of real estate 8,547,290 0
Net cash used in investing activities (31,667,655) (22,633,811)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 29,647,255 10,762,025
Repayment of mortgage notes payable (13,343,466) (1,003,887)
Proceeds from Issuance of Common Stock 14,248,398 13,335,769
Proceeds received from noncontrolling interests 1,680,651 355,166
Distributions made to noncontrolling interests 932,426 442,481
Repurchase of common stock (302,075) (62,834)
Repurchase of common stock - related parties (82,520) 0
Redemption of preferred stock 0 (1,255,000)
Deferred stock issuance costs 228,640 (317,533)
Exercise of warrants 0 1,890
Exercise of stock options 0 2,000
Dividends paid (3,582,252) (2,836,995)
Net cash provided by financing activities 27,562,205 18,538,120
Net (decrease) increase in cash and cash equivalents (2,790,855) (3,387,178)
Cash and cash equivalents:    
Beginning of year 7,028,090 9,298,523
Additions to cash from consolidation of joint venture 634,846 1,116,745
End of period 4,872,081 7,028,090
Supplemental Cash Flow Information [Abstract]    
Interest paid 3,325,773 2,017,961
Non-cash investing and financing activities:    
Reclassification Of Investment In Real Estate 0 21,188,400
Accrual of goodwill and related liability 0 1,032,000
Preferred Stock Issued For Partnership Interest 1,649,266 0
Stock issued for partnership units of limited partnerships 0 1,128,901
Reinvestment of cash dividend 3,886,865 3,525,969
Accrual of dividends payable 1,008,699 816,782
Change in par value for Maryland reincorporation 0 85,343,431
Common Shares issued upon exercise of warrants $ 0 $ 453,889