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Mortgage Payable and Other Secured Financing by Property Net of Deferred Financing Costs (Details) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Mortgage Loans on Real Estate [Line Items]    
Outstanding Mortgage Payable, net $ 51,175,060 $ 51,379,512
Period End Rate 3.98% 3.83%
Real Estate [Member] | Eagle Village [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Mortgage Payable, net [1] $ 7,797,894 $ 7,845,711
Year Acquired [1] 2010 2010
Debt instrument, maturity date [1] Sep. 01, 2018 Sep. 01, 2018
Variable / Fixed [1] Variable Variable
Reset Frequency [1] Monthly Monthly
Variable Based Rate [1] 0.81% 0.63%
Facility Fees [1] 3.00% 3.00%
Period End Rate [1] 3.81% 3.63%
Real Estate [Member] | Residences at DeCordova [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Mortgage Payable, net $ 1,727,786 $ 1,744,858
Year Acquired 2012 2012
Debt instrument, maturity date Jun. 01, 2017 Jun. 01, 2017
Variable / Fixed Fixed Fixed
Reset Frequency N/A N/A
Period End Rate 4.75% 4.75%
Real Estate [Member] | Residences at Weatherford [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Mortgage Payable, net $ 5,528,191 $ 5,589,086
Year Acquired 2011 2011
Debt instrument, maturity date Jun. 01, 2017 Jun. 01, 2017
Variable / Fixed Fixed Fixed
Reset Frequency N/A N/A
Period End Rate 4.75% 4.75%
Real Estate [Member] | Jade Park [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Mortgage Payable, net $ 7,462,933 $ 7,461,131
Year Acquired 2016 2016
Debt instrument, maturity date Oct. 01, 2021 Oct. 01, 2021
Variable / Fixed Fixed Fixed
Reset Frequency N/A N/A
Period End Rate 3.85% 3.85%
Mortgages payable [Member] | Real Estate [Member] | The 50/50 Student Housing--UNL [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Mortgage Payable, net [2] $ 24,984,591 $ 25,082,636
Year Acquired [2] 2013 2013
Debt instrument, maturity date [2] Mar. 01, 2020 Mar. 01, 2020
Variable / Fixed [2] Variable Variable
Reset Frequency [2] Monthly Monthly
Variable Based Rate [2] 3.75% 3.50%
Period End Rate [2] 3.75% 3.50%
Tax Increment Financing [Member] | Real Estate [Member] | The 50/50 Student Housing--UNL [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Mortgage Payable, net $ 3,673,665 $ 3,656,090
Year Acquired 2014 2014
Debt instrument, maturity date Dec. 01, 2019 Dec. 01, 2019
Variable / Fixed Fixed Fixed
Reset Frequency N/A N/A
Period End Rate 4.65% 4.65%
[1] Variable rate is based on LIBOR
[2] Variable rate is based on Wall Street Journal Prime Rate