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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Real estate assets:    
Land $ 3,245,003 $ 3,245,003
Buildings and improvements 41,258,770 41,258,770
Intangible lease assets 5,101,432 5,101,432
Total real estate assets, at cost 49,605,205 49,605,205
Less: accumulated depreciation and amortization (6,691,668) (5,735,541)
Total real estate assets, net 42,913,537 43,869,664
Cash and cash equivalents 1,559,531 1,206,262
Rents and tenant receivables 1,056,138 1,112,208
Prepaid expenses and other assets 87,578 54,716
Deferred costs, net 20,849 56,689
Total assets 45,637,633 46,299,539
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Credit facility 24,175,000 24,175,000
Accrued expenses and accounts payable 603,769 628,747
Due to affiliates 78,192 110,872
Distributions payable 123,993 132,145
Deferred rental income 221,491 217,149
Total liabilities 25,202,445 25,263,913
Commitments and contingencies
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding 0 0
Capital in excess of par value 28,737,562 28,707,032
Accumulated distributions in excess of earnings (8,334,612) (7,703,609)
Total stockholders’ equity 20,435,188 21,035,626
Total liabilities, redeemable common stock, and stockholders’ equity 45,637,633 46,299,539
Class A Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock 25,114 24,974
Class T Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock $ 7,124 $ 7,229