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Condensed Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net income (loss) $ 769,584 $ 1,371,235
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization expense (1,511,315) (1,225,565)
Provision for loss from receivables 238,175 0
Non-cash loss on derivatives 329,340 232,554
Bond discount amortization (105,140) (116,858)
Gain on asset sold 0 (21,103)
Gain on early extinquishment of debt 0 (104,988)
Changes in operating assets and liabilities, net of effect of acquisitions    
Increase in interest receivable (1,526,134) (1,223,846)
Decrease (increase) in other assets 13,550 (1,056,661)
Increase (decrease) in accounts payable and accrued expenses (449,445) (529,422)
Net cash provided (used) by operating activities 781,245 (223,524)
Cash flows from investing activities:    
Capital expenditures (1,823,562) (930,797)
Acquisition of tax-exempt mortgage revenue bonds 0 (4,492,500)
Acquisition of partnerships, net of cash acquired 0 (20,758,476)
Proceeds from assets sold 0 36,500
Decrease (increase) in restricted cash 225,705 (125,259)
Restricted cash - debt collateral (paid) released 650,833 732,403
Cash released upon foreclosure 0 2,047,161
Principal payments received on tax-exempt mortgage revenue bonds 71,317 101,349
Net cash used by investing activities (875,707) (23,389,619)
Cash flows from financing activities:    
Distributions paid (3,911,340) (3,803,399)
(Decrease) increase in liabilities related to restricted cash (225,705) 125,259
Proceeds from debt financing 1,673,579 27,500,584
Deferred financing costs (34,188) 0
Principal payments on debt financing and mortgage payable (186,302) (159,464)
Sale of LP Interests - Ohio Properties 4,037 0
Net cash (used) provided by financing activities (2,679,919) 23,662,980
Net decrease (increase) in cash and cash equivalents (2,774,381) 49,837
Cash and cash equivalents at beginning of period, including discontinued operations 20,213,413 13,277,048
Cash and cash equivalents at end of period, including discontinued operations 17,439,032 13,326,885
Cash paid during the period for interest 881,291 816,171
Distributions declared but not paid 3,803,400 3,803,399
Capital expenditures financed through notes payable $ 42,929 $ 9,601