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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 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 (7,169,731) (5,735,541)
Total real estate assets, net 42,435,474 43,869,664
Cash and cash equivalents 2,793,214 1,206,262
Rents and tenant receivables 979,645 1,112,208
Prepaid expenses and other assets 99,845 54,716
Deferred costs, net 0 56,689
Total assets 46,308,178 46,299,539
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Credit facility, net 25,597,242 24,175,000
Accrued expenses and accounts payable 540,140 628,747
Due to affiliates 64,015 110,872
Distributions payable 99,566 132,145
Deferred rental income 221,491 217,149
Total liabilities 26,522,454 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 28,703,712 28,707,032
Accumulated distributions in excess of earnings (8,950,176) (7,703,609)
Total stockholders’ equity 19,785,724 21,035,626
Total liabilities and stockholders’ equity 46,308,178 46,299,539
Class A Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock 25,093 24,974
Class T Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock $ 7,095 $ 7,229