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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:    
Net loss $ (1,558,952) $ (151,714)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Gain on sale of property (761,978)
Stock option expense 66,015 2,370
Stock compensation expense 32,500
Amortization of debt issuance costs 230,173 133,190
Write off debt issuance costs recorded as debt discount 135,339 464,569
Gain on debt extinguishment (139,300)
Loss on disposal of homes 127,057  
Depreciation and amortization 2,060,882 1,652,509
Changes in operating assets and liabilities:    
Accounts receivable (129,003) (11,715)
Other assets 118,309 215,650
Accounts payable 241,869 4,820
Tenant security deposits 366,043 28,039
Accrued liabilities 747,559 (329,333)
Net Cash Provided by Operating Activities 2,265,991 1,278,907
Cash Flows from Investing Activities:    
Capital improvements (2,026,414) (1,299,195)
Purchases of investment properties (6,617,000) (1,001,000)
Proceeds from sale of properties 2,100,000
Payment of acquisition costs (481,781)  
Net Cash Used in Investing Activities (9,125,195) (200,195)
Cash Flows from Financing Activities:    
Proceeds from notes payable – related party 1,650,000  
Repayment of notes payable – related party (2,608,867)
Proceeds from notes payable 4,325,522 16,960,969
Repayment of notes payable (4,909,168) (18,555,939)
Proceeds from lines of credit – VIE 3,421,209 880,336
Repayment of lines of credit – VIE (1,732,599)  
Proceeds from issuance of common stock 4,185
Proceeds from issuance of preferred stock 6,809,884 2,151,250
Payment of debt and Series C Preferred Stock costs recorded as debt discount (1,526,376) (1,230,680)
Preferred shares dividends (964,167) (811,143)
Contribution to VIE 12,371
Distribution from VIE (110,000) (27,377)
Net Cash Provided by (Used in) Financing Activities 6,976,676 (3,237,266)
Net Change in Cash and Cash Equivalents 117,472 (2,158,554)
Cash and cash equivalents at beginning of the year 1,988,857 4,147,411
Cash and cash equivalents at end of the year 2,106,329 1,988,857
End of year    
Cash and cash equivalents 1,401,134 1,649,705
Restricted cash 705,195 339,152
Total 2,106,329 1,988,857
Beginning of year    
Cash and cash equivalents 1,649,705 3,831,376
Restricted cash 339,152 316,035
Total 1,988,857 4,147,411
Cash paid for:    
Income taxes 639
Interest 2,184,891 1,679,114
Non-Cash Investing and Financing Activities    
Notes and lines of credit related to acquisitions and capital improvements 22,449,312 4,150,000
Line of credit related to acquisitions   2,468,631
Non-cash preferred stock accretion 1,211,305 1,039,717
Stock issued in connection with Series B Preferred Stock issuance 1,377
Debt issuance costs included in accounts payable $ 250,000