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Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net loss $ (571,611) $ (538,799)
Adjustments to reconcile net loss to net cash    
Depreciation amortization and amortization of above market rents 1,243,735 978,486
Stock compensation 166,787 109,620
Loss on sale of real estate assets (44,082) 82,277
Bad debt expense 16,605 15,919
Net Income Loss Attributable To Noncontrolling Interest 108,167 75,915
Other assets 347,577 (627,097)
IncreaseDecreaseInAccounts Payable And Accrued Liabilities (408,659) (156,431)
Net cash provided by (used in) operating activities 858,519 (60,110)
Cash flows from investing activities:    
Real estate acquisitions (873,640) (3,287,967)
Proceeds on sale of real estate assets 2,192,083 1,215,119
Deposits on potential acquisitions 291,365 196,500
Purchase of notes receivable 775 (124,016)
Restricted cash 281,916 41,322
Net cash used in investing activities 1,309,769 (2,352,042)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 226,082 1,469,890
Stock Issued During Period, Value, Conversion of Units 143,905  
Repayment of mortgage notes payable (2,011,559) (2,230,547)
Repurchase of common stock   158,386
Net proceeds from issuance of common stock 0 3,263,638
Proceeds received from noncontrolling interests   255,481
Distributions made to noncontrolling interests 50,888  
Repurchase of common stock - related parties (143,905) (82,520)
Deferred stock issuance costs (18,895) 305,050
Dividends paid (1,008,699) (816,782)
Net cash provided by financing activities (2,863,959) 2,005,824
Net (decrease) increase in cash and cash equivalents (695,671) (406,328)
Cash and cash equivalents:    
Beginning of year 4,872,081 7,028,090
End of period 4,176,410 6,621,762
Supplemental Cash Flow Information [Abstract]    
Interest paid 930,094 636,743
Non-cash investing and financing activities:    
Reinvestment of cash dividend 1,052,606 944,754
Accrual of dividends payable $ 1,034,558 $ 880,666