Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 30,492,151	$ 41,139,529
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	3,091,417	3,556,265
Gain on sale of real estate assets, net		(4,051,429)
Gain on sale of investment in an unconsolidated entity	(16,141,797)	(2,904,087)
Contingent interest realized on investing activities	(3,045,462)	(9,322,849)
Impairment of securities		1,141,020
Impairment charge on real estate assets	75,000	150,000
Loss (gain) on derivatives, net of cash paid	615,722	(856,264)
Restricted unit compensation expense	3,636,091	1,822,525
Bond premium/discount amortization	(135,648)	(67,596)
Debt premium amortization	(18,513)
Amortization of deferred financing costs	1,713,534	1,673,044
Deferred income tax expense (benefit) & income tax payable/receivable	(29,343)	(957,501)
Change in preferred return receivable from unconsolidated entities, net	(2,246,395)	(3,498,255)
Changes in operating assets and liabilities
Increase in interest receivable	(420,594)	(470,707)
(Increase) decrease in other assets	672,803	(870,098)
Decrease in accounts payable and accrued expenses	(264,717)	(818,176)
Net cash provided by operating activities	17,994,249	25,665,421
Cash flows from investing activities:
Capital expenditures	(126,732)	(532,977)
Proceeds from sale of MF Properties		13,450,000
Proceeds from sale of investment in an unconsolidated entity	33,215,533	11,002,761
Acquisition of mortgage revenue bonds	(19,250,000)	(41,708,000)
Contributions to unconsolidated entities	(25,274,899)	(38,646,325)
Principal payments received on taxable mortgage revenue bonds	53,086	979,808
Cash paid for land held for development and deposits on potential purchases		(2,764,403)
Advances on property loans	(405,717)	(66,652)
Principal payments received on property loans and contingent interest	11,413,098	18,696,269
Net cash provided by investing activities	23,192,923	49,118,433
Cash flows from financing activities:
Distributions paid	(35,336,852)	(36,161,829)
Repurchase of BUCs		(1,697,613)
Proceeds from the sale of BUCs		2,033,731
Payment of offering costs related to the sale of BUCs		(40,703)
Payment of tax withholding related to restricted unit awards	(1,581,423)	(363,987)
Proceeds from debt financing	122,921,712	238,920,000
Principal payments on debt financing	(92,811,848)	(292,601,847)
Principal payments on mortgages payable	(739,897)	(8,215,176)
Principal borrowing on unsecured lines of credit	23,200,000	52,708,000
Principal payments on unsecured lines of credit	(45,659,200)	(67,048,800)
Increase (decrease) in security deposit liability related to restricted cash	(22,199)	19,213
Debt financing and other deferred costs	(1,240,095)	(649,561)
Net cash used in financing activities	(31,269,802)	(113,098,572)
Net increase (decrease) in cash, cash equivalents and restricted cash	9,917,370	(38,314,718)
Cash, cash equivalents and restricted cash at beginning of period	33,268,611	71,583,329
Cash, cash equivalents and restricted cash at end of period	43,185,981	33,268,611
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	22,084,197	23,534,203
Cash paid during the period for income taxes	340,374	180,476
Supplemental disclosure of noncash investing and financing activities:
Distributions declared but not paid for BUCs and General Partner	7,607,984	7,576,167
Distributions declared but not paid for Series A Preferred Units	708,750	708,750
Land contributed as investment in an unconsolidated entity		2,879,473
Capital expenditures financed through accounts payable		43,673
Deferred financing costs financed through accounts payable	73,724
Public housing capital fund trusts [Member]
Cash flows from investing activities:
Principal payments received	6,300,042	701,614
Mortgage Revenue Bonds and Contingent Interest [Member]
Cash flows from investing activities:
Principal payments received	$ 17,268,512	$ 88,006,338