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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Property revenues $ 3,729,778 $ 5,074,104
Investment income 11,470,186 9,157,234
Contingent interest income 132,650 174,396
Other interest income 645,137 514,125
Other income 62,637  
Total revenues 16,040,388 14,919,859
Expenses:    
Real estate operating (exclusive of items shown below) 2,484,216 2,636,677
Depreciation and amortization 1,592,826 2,124,898
Amortization of deferred financing costs 740,238 532,187
Interest expense 5,442,253 4,770,135
General and administrative 3,130,880 2,332,371
Total expenses 13,390,413 12,396,268
Other Income:    
Gain on sale of MF Properties 7,168,587  
Gain on sale of securities   8,097
Income before income taxes 9,818,562 2,531,688
Income tax expense 2,458,047  
Net income 7,360,515 2,531,688
Net income (loss) attributable to noncontrolling interest 71,653 (12)
Partnership net income 7,288,862 2,531,700
Redeemable Series A preferred unit distributions and accretion (324,642) (1,684)
Net income available to Partners 6,964,220 2,530,016
Net income (loss) available to Partners and noncontrolling interest allocated to:    
General Partner 1,147,072 67,155
Net income (loss) attributable to noncontrolling interest 71,653 (12)
Net income available to Partners and noncontrolling interest $ 7,035,873 $ 2,530,004
Unitholdersʼ interest in net income per unit (basic and diluted):    
Net income per unit, basic and diluted $ 0.10 $ 0.04
Distributions declared, per unit $ 0.125 $ 0.125
Weighted average number of units outstanding, basic 60,037,687 60,252,928
Weighted average number of units outstanding, diluted 60,037,687 60,252,928
Unitholders [Member]    
Net income (loss) available to Partners and noncontrolling interest allocated to:    
Limited Partners $ 5,794,702 $ 2,462,861
Restricted Unitholders [Member]    
Net income (loss) available to Partners and noncontrolling interest allocated to:    
Limited Partners $ 22,446