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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Property revenues $ 2,285,736 $ 3,244,440 $ 7,025,390 $ 10,280,940
Investment income 12,733,013 12,242,533 38,360,534 35,886,934
Contingent interest income 4,246,094   4,246,094 219,217
Other interest income 5,217,741 735,123 7,019,465 2,047,056
Other income 1,518,531 12,734 1,592,831 75,371
Total revenues 26,001,115 16,234,830 58,244,314 48,509,518
Expenses:        
Real estate operating (exclusive of items shown below) 1,606,765 2,225,845 4,292,745 6,331,145
Impairment of securities 309,958   1,141,020  
Impairment charge on real estate assets 150,000   150,000  
Depreciation and amortization 864,600 1,259,055 2,692,731 4,122,260
Amortization of deferred financing costs 409,420 577,413 1,304,879 1,880,236
Interest expense 5,985,263 5,714,181 16,786,435 16,997,761
General and administrative 3,653,288 3,197,853 9,506,258 9,205,183
Total expenses 12,979,294 12,974,347 35,874,068 38,536,585
Other Income:        
Gain on sale of real estate assets, net 4,051,429   4,051,429 7,152,512
Income before income taxes 17,073,250 3,260,483 26,421,675 17,125,445
Income tax expense (benefit) (809,805) (285,000) (803,805) 2,110,047
Net income 17,883,055 3,545,483 27,225,480 15,015,398
Net income attributable to noncontrolling interest       71,653
Partnership net income 17,883,055 3,545,483 27,225,480 14,943,745
Redeemable Series A preferred unit distributions and accretion (717,763) (523,682) (2,153,288) (1,280,874)
Net income available to Partners 17,165,292 3,021,801 25,072,192 13,662,871
Net income available to Partners and noncontrolling interest allocated to:        
General Partner 2,163,058 30,218 2,242,127 1,212,429
Net income attributable to noncontrolling interest       71,653
Net income available to Partners and noncontrolling interest $ 17,165,292 $ 3,021,801 $ 25,072,192 $ 13,734,524
Unitholders' interest in net income per Unit, basic and diluted $ 0.25 $ 0.05 $ 0.38 $ 0.21
Distributions declared, per Unit $ 0.125 $ 0.125 $ 0.375 $ 0.375
Weighted average number of Units outstanding, basic 59,907,123 59,811,578 59,989,585 59,904,078
Weighted average number of Units outstanding, diluted 59,907,123 59,811,578 59,989,585 59,904,078
Unitholders [Member]        
Net income available to Partners and noncontrolling interest allocated to:        
Limited Partners $ 14,933,260 $ 2,936,408 $ 22,662,993 $ 12,325,639
Restricted Unitholders [Member]        
Net income available to Partners and noncontrolling interest allocated to:        
Limited Partners $ 68,974 $ 55,175 $ 167,072 $ 124,803