XML 51 R33.htm IDEA: XBRL DOCUMENT v3.22.1
Variable Interest Entities (Details) - Schedule of consolidated financial statements - VIE's [Member] - USD ($)
Dec. 31, 2021
Dec. 31, 2020
[1]
Condensed Financial Statements, Captions [Line Items]    
Investment Property $ 14,144,268 $ 5,067,535
Accumulated Depreciation and Amortization (597,650) (288,739)
Net Investment Property 13,546,618 4,778,796
Cash and Cash Equivalents 98,900 9,234
Accounts Receivable, net 60,506 3,506
Other Assets 158,920 14,652
Total Assets 13,864,944 4,806,188
Liabilities and Deficit    
Accounts Payable 169,298 4,969
Notes Payable 6,793,319 1,994,640
Line of Credit, $151,749 and $0 debt discount 6,200,607 3,214,916
Other Liabilities [2] 1,679,233 9,439
Tenant Security Deposits 1,499
Total Liabilities 14,842,457 5,225,463
Non-Controlling interest (977,513) (419,275)
Total Non-controlling interest in variable interest entity equity $ (977,513) $ (419,275)
[1] The balances as of and the results of operations for the year ended December 31, 2020 have been revised to reflect the correction of an error in the recording of the December sale of homes to Gvest Finance LLC and Gvest Homes I LLC. The Company recorded the sale of all 364 park owned homes within the ARC, Countryside, Crestview, and Maple communities, but only 305 park owned homes were sold. See Note 2 for more information.
[2] Included in other liabilities is an intercompany balance of $1,515,715 and $0 as of December 31, 2021 and 2020, respectively. The intercompany balances have been eliminated on the consolidated balance sheet.