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v3.19.2

Segments (Net Operating Income by Segment) (Details) - USD ($) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018
Net Operating Income [Abstract] |  |  |  |  |  |
Rental, fees and other income | $ 7,120,987 |  | $ 8,164,416 |  | $ 14,300,251 | $ 16,389,250
Property and related expenses | (2,526,002) |  | (2,662,223) |  | (5,289,552) | (5,312,132)
Net operating income, as defined | 4,594,985 |  | 5,502,193 |  | 9,010,698 | 11,077,118
General and administrative expenses | (1,419,668) |  | (1,357,578) |  | (3,180,371) | (2,692,672)
Depreciation and amortization | (1,749,113) |  | (2,265,889) |  | (3,959,194) | (4,604,933)
Interest expense | (2,491,870) |  | (3,147,179) |  | (5,037,073) | (6,224,156)
Other income (expense) | 4,409 |  | 12,449 |  | 9,933 | (5,842)
Registration fees |  |  | (1,507,599) |  |  | (1,507,599)
Income tax expense | (191,809) |  | (88,671) |  | (273,239) | (119,465)
Gain on sale of real estate | 176,392 |  | 355,276 |  | 1,390,634 | 429,489
Net loss | (1,076,674) | $ (961,937) | (2,496,998) | $ (1,151,061) | (2,038,611) | (3,648,060)
Office/Industrial Properties [Member] |  |  |  |  |  |
Net Operating Income [Abstract] |  |  |  |  |  |
Rental, fees and other income | 5,496,096 |  | 6,058,387 |  | 10,950,249 | 12,215,534
Property and related expenses | (2,299,126) |  | (2,306,483) |  | (4,803,914) | (4,657,093)
Net operating income, as defined | 3,196,970 |  | 3,751,904 |  | 6,146,335 | 7,558,441
Model Home Properties [Member] |  |  |  |  |  |
Net Operating Income [Abstract] |  |  |  |  |  |
Rental, fees and other income | 1,001,918 |  | 1,169,890 |  | 2,083,602 | 2,293,657
Property and related expenses | (48,187) |  | (34,825) |  | (98,609) | (87,351)
Net operating income, as defined | 953,731 |  | 1,135,065 |  | 1,984,993 | 2,206,306
Retail/Mixed Use Properties [Member] |  |  |  |  |  |
Net Operating Income [Abstract] |  |  |  |  |  |
Rental, fees and other income | 622,973 |  | 936,139 |  | 1,266,400 | 1,880,059
Property and related expenses | (178,689) |  | (320,915) |  | (387,030) | (567,688)
Net operating income, as defined | $ 444,284 |  | $ 615,224 |  | $ 879,370 | $ 1,312,371

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