Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Summary of Bond Purchase Commitments

The following table represents the bond purchase commitments at March 31, 2018 and December 31, 2017:

Bond Purchase Commitments	Commitment Date	Maximum Committed Amounts for 2018		Rate			Closing Date (1)	Fair Value at March 31, 2018		Fair Value at December 31, 2017
Palo Alto	July 2015	$	19,540,000		5.80	%	Q2 2018	$	1,086,144	$	1,616,143
Village at Avalon	November 2015		16,400,000		5.80	%	Q4 2018		941,329		1,386,397
Total		$	35,940,000					$	2,027,473	$	3,002,540

⁽¹⁾ The closing dates are estimated.