Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 17,976,842	$ 4,996,038	$ (1,673,163)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization expense	6,742,439	6,386,788	5,691,639
Provision for loss on receivables	241,698	452,700	952,700
Provision for loan loss	168,000	0	4,242,571
Non-cash loss (gain) on derivatives	283,610	944,541	2,083,521
Bond discount accretion	(332,003)	(399,824)	(481,225)
Gain on the sale of bonds	0	(680,444)	0
Gain on the sale of discontinued operations	(3,177,183)	(1,406,608)	0
Contingent interest realized	(6,497,160)	0	(309,990)
Mortgage Loans on Real Estate, Write-down or Reserve, Amt	4,557,741	0	0
Gain on bond retirement and asset sold	0	0	(463,461)
Gain on foreclosure	0	0	104,988
Changes in operating assets and liabilities, net of effect of acquisitions
Increase in interest receivable	(2,796,308)	(2,442,220)	(1,265,870)
(Increase) decrease in other assets	(1,925,354)	(154,461)	1,137,626
Increase (decrease) in accounts payable and accrued expenses	(1,009,598)	(214,420)	419,940
Net cash provided (used) by operating activities	14,232,724	7,482,090	10,229,300
Cash flows from investing activities:
Capital expenditures	(13,007,148)	(8,029,349)	(14,081,507)
Acquisition of mortgage revenue bonds	(148,624,000)	(28,561,857)	(20,917,500)
Proceeds from sale of discontinued operations	22,610,000	10,825,000	0
Investment in bonds due to the sale recognition of discontinued operations	(27,778,000)	0	0
Acquisition of partnerships, net of cash acquired	4,064,089	0	0
Principal payments received on taxable loans	0	160,000	4,528,137
Change in restricted cash - Ohio sale	0	0	2,684,876
Change in restricted cash - Greens sale	2,546,363	(2,459,187)	0
Proceeds from sale/redemption of mortgage revenue bonds and mortgage-backed securities	(21,935,343)	(31,872,522)	(11,067,524)
Acquisition of mortgage-backed securities	(12,629,888)	(37,573,386)	0
Acquisition of taxable bonds	(2,918,000)	0	0
Decrease (increase) in restricted cash	94,423	(70,320)	(281,275)
Restricted cash - debt collateral released (paid)	(3,992,848)	7,247,341	6,677,529
Cash released upon foreclosure	0	0	2,235,335
Acquisition of partnerships, net of cash acquired	0	(5,500,000)	(24,779,613)
Acquisition of public housing capital fund trust certificates	0	(65,985,913)	0
Increase in notes receivable	(1,603,083)	(191,264)	0
Purchase of rate derivative	(793,000)	0	0
Land purchasd - held for sale	(1,090,000)	0	0
Principal payments received on mortgage revenue bonds	2,764,286	970,298	1,023,709
Proceeds from assets sold	0	0	36,500
Transfer of cash to deconsolidated VIE upon deconsolidation	0	0	(5,135)
Net cash used by investing activities	(158,421,463)	(97,296,115)	(31,811,420)
Cash flows from financing activities:
Distributions paid	(22,238,937)	(18,987,693)	(15,277,141)
Proceeds from Issuance of Common Stock	48,213,603	60,003,863	0
Proceeds from debt financing	81,490,000	74,110,000	58,599,571
Principal borrowings on mortgages payable	20,697,452	3,769,014	0
Principal borrowing on line of credit	16,065,900	0	0
Principal payments on line of credit	(16,065,900)	0	0
Principal payments on debt financing	(2,164,000)	(8,835,000)	(14,675,584)
Principal payments on mortgages payable	(372,856)	(10,893,390)	(186,085)
Decrease in liabilities related to restricted cash	(94,423)	70,320	281,275
Debt financing costs	(355,585)	(264,763)	(338,903)
Sale of LP Interests	0	959,761	115,352
Net cash provided by financing activities	125,175,254	99,932,112	28,518,485
Net increase (decrease) in cash and cash equivalents	(19,013,485)	10,118,087	6,936,365
Cash and cash equivalents at beginning of period, including cash and cash equivalents of discontinued operations of $126,572, $65,527, and $198,528, respectively	30,331,500	20,213,413
Cash and cash equivalents at end of period	11,318,015	30,331,500	20,213,413
Supplemental Cash Flow Information:
Cash paid during the period for interest	6,621,251	4,437,961	3,580,562
Distributions declared but not paid	6,446,077	5,566,908	3,911,340
Supplemental disclosure of non cash activities:
Capital expenditures financed through accounts and notes payables	1,758,297	2,584,417	8,949,253
Restricted cash released to pay down mortgages payable	2,356,640	0	0
Foreclosure of Woodland Park bond	(15,662,000)	0	0
Deconsolidation of the discontinued operations - noncontrolling interest	2,326,984	0	0
Recognition of taxable property loans receivable - discontinued operations	2,086,236	0	0
Cash received for sale of MF Properties eliminated in consolidation	0	7,265,000	0
Cash paid for purchase of tax exempt mortgage revenue bond eliminated in consolidation	0	(9,465,000)	0
Cash paid for taxable loan eliminated in consolidation	$ 0	$ (850,000)	$ 0