Investments in Equipment and Leases, Net (Tables)

12 Months Ended

Dec. 31, 2016

Investments in Equipment and Leases, Net [Abstract]

Investment in Leases

The Company’s investment in leases consists of the following:

		Balance December 31, 2015		Additions		Depreciation/ Amortization Expense		Balance December 31, 2016
Net investment in operating leases	$	-	$	7,076,803	$	(310,876)	$	6,765,927
Initial direct costs, net of accumulated amortization of $27,725 at December 31, 2016		-		194,803		(27,725)		167,078
Total	$	-	$	7,271,606	$	(338,601)	$	6,933,005

Property on Operating Leases

Property on operating leases consists of the following:

		Balance December 31, 2015		Additions		Reclassifications or Dispositions		Balance December 31, 2016
Transportation, rail	$	-	$	1,956,195	$	-	$	1,956,195
Paper processing		-		1,057,551		-		1,057,551
Marine vessels		-		1,041,158		-		1,041,158
Containers		-		859,560		-		859,560
Agriculture		-		741,827		-		741,827
Materials handling		-		577,081		-		577,081
Aviation		-		461,950		-		461,950
Construction		-		284,782		-		284,782
Trucks/trailers		-		96,699		-		96,699
		-		7,076,803		-		7,076,803
Less accumulated depreciation		-		(310,876)		-		(310,876)
Total	$	-	$	6,765,927	$	-	$	6,765,927

Future Minimum Lease Payments Receivable

At December 31, 2016, the aggregate amounts of future minimum lease payments receivable are as follows:

		Operating Leases
Year ending December 31, 2017	$	1,092,393
2018		1,092,393
2019		1,072,081
2020		890,825
2021		447,923
Thereafter		483,472
	$	5,079,087

Schedule of Useful Lives of Assets

As of December 31, 2016, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):

Equipment category	Useful Life
Transportation, rail	35 - 40
Marine vessel	20 - 30
Containers	15 - 20
Aviation	15 - 20
Paper processing	10 - 15
Agriculture	7 - 10
Construction	7 - 10
Materials handling	7 - 10
Transportation	7 - 10