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Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenues:    
Investment income $ 47,553,660 $ 50,222,435
Property revenues 6,986,009 8,081,029
Contingent interest income 12,043 3,045,462
Other interest income 967,338 851,123
Other income 9,518 117,964
Total revenues 55,528,568 62,318,013
Expenses:    
Real estate operating (exclusive of items shown below) 4,347,441 4,473,558
Provision for credit loss (Note 6) 7,318,590  
Provision for loan loss (Note 11) [1] 911,232
Impairment charge on real estate assets 25,200 75,000
Depreciation and amortization 2,810,073 3,091,417
Interest expense 21,215,888 24,717,294
General and administrative 13,027,349 15,564,403
Total expenses 49,655,773 47,921,672
Other Income:    
Gain on sale of securities 1,416,023  
Gain on sale of investments in unconsolidated entities   16,141,797
Income before income taxes 7,288,818 30,538,138
Income tax expense 79,990 45,987
Net income 7,208,828 30,492,151
Redeemable Series A Preferred Unit distributions and accretion (2,871,051) (2,871,051)
Net income available to Partners 4,337,777 27,621,100
Net income (loss) available to Partners allocated to:    
General Partner (32,666) 2,102,874
Net income available to Partners and noncontrolling interest $ 4,337,777 $ 27,621,100
BUC holders' interest in net income per BUC, basic and diluted $ 0.07 $ 0.42
Weighted average number of BUCs outstanding, basic 60,606,989 60,551,775
Weighted average number of BUCs outstanding, diluted 60,606,989 60,551,775
Beneficial Unit Certificate Holders [Member]    
Net income (loss) available to Partners allocated to:    
Limited Partners $ 4,304,208 $ 25,423,398
Restricted Unitholders [Member]    
Net income (loss) available to Partners allocated to:    
Limited Partners $ 66,235 $ 94,828
[1]

The provision for loan loss is related to the Live 929 Apartments property loan.