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Commitments and Contingencies - Summary of Partnership's Maximum Exposure Under Guarantee Agreements (Details)
3 Months Ended
Mar. 31, 2021
USD ($)
Vantage At Stone Creek [Member]  
Long-term Purchase Commitment [Line Items]  
Year the Guarantee was Executed 2018 [1]
Maximum Balance Available on Loan $ 30,824,000 [1]
Loan Balance as of March 31, 2021 30,501,955 [1]
Partnership's Maximum Exposure as of March 31, 2021 $ 15,250,978 [1]
Vantage At Coventry [Member]  
Long-term Purchase Commitment [Line Items]  
Year the Guarantee was Executed 2018 [1]
Maximum Balance Available on Loan $ 31,500,000 [1]
Loan Balance as of March 31, 2021 29,369,707 [1]
Partnership's Maximum Exposure as of March 31, 2021 $ 14,684,853 [1]
Vantage At Murfreesboro [Member]  
Long-term Purchase Commitment [Line Items]  
Year the Guarantee was Executed 2021 [2]
Maximum Balance Available on Loan $ 30,500,000 [2]
Loan Balance as of March 31, 2021 30,500,000 [2]
Partnership's Maximum Exposure as of March 31, 2021 $ 15,250,000 [2]
Ohio Properties [Member]  
Long-term Purchase Commitment [Line Items]  
Year the Guarantee was Executed 2011
Partnership's Maximum Exposure as of March 31, 2021 $ 3,011,522
End of Guarantee Period 2026
Greens of Pine Glen [Member]  
Long-term Purchase Commitment [Line Items]  
Year the Guarantee was Executed 2012
Partnership's Maximum Exposure as of March 31, 2021 $ 2,046,028
End of Guarantee Period 2027
[1]

The Partnership’s guaranty was initially for the entire amount of the loan and will decrease based on the achievement of certain events or financial ratios. The Partnership’s maximum exposure will decrease to 25% of the loan balance when certain debt service coverage levels are achieved by the borrower.

[2] The Partnership’s guaranty is for 50% of the loan balance. The Partnership has guaranteed up to 100% of the outstanding loan balance upon the occurrence of fraud or other willful misconduct by the borrower or if the borrower voluntarily files for bankruptcy. The guaranty agreement requires the Partnership to maintain a minimum net worth and maintain liquid assets of not less than $5.0 million. The Partnership was in compliance with these requirements as of March 31, 2001. The Partnership has also provided indemnification to the lender for costs related to environmental non-compliance and remediation during the term.