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Condensed Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net income (loss) $ 8,494,077 $ 769,584
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization expense 1,585,605 1,511,315
Provision for loss on receivables 238,175 238,175
Non-cash loss on derivatives 104,658 329,340
Bond discount and premium amortization and accretion (83,638) (105,140)
Gain on the sale of the Ohio Properties (1,775,527) 0
Changes in operating assets and liabilities, net of effect of acquisitions    
Increase (decrease) in interest receivable (2,616,713) (1,526,134)
(Increase) decrease in other assets (652,147) 13,550
Increase (decrease) in accounts payable and accrued expenses (2,248,190) (449,445)
Net cash provided (used) by operating activities 3,046,300 781,245
Cash flows from investing activities:    
Capital expenditures (1,645,272) (1,823,562)
Acquisition of tax-exempt mortgage revenue bonds (38,400,000) 0
Proceeds from sale of MF Property 16,195,000 0
Investment in the Ohio Properties' bonds (18,313,000) 0
Cash received from taxable loans receivable - Ohio Properties 4,064,089 0
Acquisition of mortgage-backed securities (2,557,373) 0
Acquisition of partnerships, net of cash acquired (804,000) 0
Decrease in restricted cash 137,443 225,705
Restricted cash - debt collateral released 644,833 650,833
Proceeds from the sale of bonds 2,097,691 0
Principal payments received on taxable bonds 684,763 71,317
Net cash provided (used) by investing activities (37,895,826) (875,707)
Cash flows from financing activities:    
Distributions paid (5,566,909) (3,911,340)
Proceeds from debt financing 16,705,000 1,673,579
Principal borrowings on mortgages payable 7,500,000 0
Principal payments on debt and mortgage financing (562,486) (186,302)
Decrease in liabilities related to restricted cash (137,443) (225,705)
Debt financing costs 32,942 34,188
Proceeds from Noncontrolling Interests 0 4,037
Net cash (used) provided by financing activities 17,905,220 (2,679,919)
Net increase (decrease) in cash and cash equivalents (16,944,306) (2,774,381)
Cash and cash equivalents at beginning of period, including discontinued operations 30,331,500 20,213,413
Cash and cash equivalents at end of period, including discontinued operations 13,387,194 17,439,032
Cash paid during the period for interest 1,286,483 881,291
Distributions declared but not paid 5,400,622 3,803,400
Cash borrowed for financing costs 115,900 0
Capital expenditures financed through payables 2,006,159 42,929
Deconsolidation of the Ohio Properties - noncontrolling interest 1,012,966 0
Taxable loans receivable - Ohio Properties $ 1,236,236 $ 0