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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Property revenues $ 3,306,722 $ 4,994,868 $ 7,036,500 $ 10,068,972
Investment income 12,174,215 9,009,907 23,644,401 18,167,141
Contingent interest income 86,567 45,000 219,217 219,396
Other interest income 666,796 883,346 1,311,933 1,397,471
Other income     62,637  
Total revenues 16,234,300 14,933,121 32,274,688 29,852,980
Expenses:        
Real estate operating (exclusive of items shown below) 1,621,084 2,369,455 4,105,300 5,006,132
Impairment charge   61,506   61,506
Depreciation and amortization 1,270,379 1,806,732 2,863,205 3,931,630
Amortization of deferred financing costs 562,585 392,493 1,302,823 924,680
Interest expense 5,841,327 4,322,054 11,283,580 9,092,189
General and administrative 2,876,450 2,764,981 6,007,330 5,097,352
Total expenses 12,171,825 11,717,221 25,562,238 24,113,489
Other Income:        
Gain (loss) on sale of real estate assets (16,075) 12,442,929 7,152,512 12,442,929
Gain on sale of securities       8,097
Income before income taxes 4,046,400 15,658,829 13,864,962 18,190,517
Income tax expense (benefit) (63,000) 4,653,000 2,395,047 4,653,000
Net income 4,109,400 11,005,829 11,469,915 13,537,517
Net income (loss) attributable to noncontrolling interest   (101) 71,653 (113)
Partnership net income 4,109,400 11,005,930 11,398,262 13,537,630
Redeemable Series A preferred unit distributions and accretion (432,550) (124,982) (757,192) (126,666)
Net income available to Partners 3,676,850 10,880,948 10,641,070 13,410,964
Net income (loss) available to Partners and noncontrolling interest allocated to:        
General Partner 35,139 2,121,913 1,182,211 2,189,068
Net income (loss) attributable to noncontrolling interest   (101) 71,653 (113)
Net income available to Partners and noncontrolling interest $ 3,676,850 $ 10,880,847 $ 10,712,723 $ 13,410,851
Unitholdersʼ interest in net income per unit (basic and diluted):        
Net income per unit, basic and diluted $ 0.06 $ 0.15 $ 0.16 $ 0.19
Distributions declared, per unit $ 0.125 $ 0.125 $ 0.25 $ 0.25
Weighted average number of units outstanding, basic 59,862,969 60,252,928 59,950,328 60,252,928
Weighted average number of units outstanding, diluted 59,862,969 60,252,928 59,950,328 60,252,928
Unitholders [Member]        
Net income (loss) available to Partners and noncontrolling interest allocated to:        
Limited Partners $ 3,594,529 $ 8,759,035 $ 9,389,231 $ 11,221,896
Restricted Unitholders [Member]        
Net income (loss) available to Partners and noncontrolling interest allocated to:        
Limited Partners $ 47,182   $ 69,628