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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Condensed Consolidated Statements of Operations (Unaudited) [Abstract]        
Rental income $ 4,973,982 $ 4,725,963 $ 14,223,066 $ 14,559,692
Fee and other income 111,137 63,404 333,763 255,540
Total Revenues 5,085,119 4,789,367 14,556,829 14,815,232
Costs and expenses:        
Rental operating costs 1,984,801 1,691,280 5,394,946 4,841,809
General and administrative 1,200,536 1,166,374 3,889,185 3,606,963
Depreciation and amortization 1,614,503 1,353,612 4,387,175 3,994,350
Total costs and expenses 4,799,840 4,211,266 13,671,306 12,443,122
Income from operations 285,279 578,101 885,523 2,372,110
Other income (expense):        
Interest expense - mortgage notes payable (1,344,698) (1,247,604) (3,985,783) (3,800,959)
Interest and amortization of issuance costs - Series B preferred stock (353,014) 0 (353,014) 0
Interest and other income 15,418 16,609 75,577 108,304
Gain on sale of real estate 1,221,680 169,460 2,426,004 1,026,371
Gain on dissolution of partnership assets 0 0 302,831 0
Asset impairments (950,000) (1,500,000) (950,000) (1,500,000)
Total other expense, net (1,410,614) (2,561,535) (2,484,385) (4,166,284)
Net loss before noncontrolling interests (1,125,335) (1,983,434) (1,598,862) (1,794,174)
Income attributable to noncontrolling interests 726,222 327,550 1,709,127 875,264
Net loss $ (1,851,557) $ (2,310,984) $ (3,307,989) $ (2,669,438)
Loss per common share:        
Basic and diluted (in dollars per share) $ (0.11) $ (0.14) $ (0.20) $ (0.16)
Weighted average number of common shares outstanding - basic and diluted (in shares) 16,745,003 16,210,755 16,768,211 16,186,962