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Real Estate Owned, Net (Tables)
 3 Months Ended
Mar. 31, 2020
Real Estate [Abstract]  
Schedule of Real Estate Properties [Table Text Block]
The following table presents the components of real estate owned, net:
 
March 31, 2020
 
December 31, 2019
 
Cost
 
Accumulated Depreciation/Amortization
 
Net
 
Cost
 
Accumulated Depreciation/Amortization
 
Net
Real estate:
 
 
 
 
 
 
 
 
 
 
 
Land
$
13,395,430

 
$
—

 
$
13,395,430

 
$
13,395,430

 
$
—

 
$
13,395,430

Building and building
   improvements
51,725,969

 
(2,155,271
)
 
49,570,698

 
51,725,969

 
(1,831,980
)
 
49,893,989

Tenant improvements
1,854,640

 
(462,131
)
 
1,392,509

 
1,854,640

 
(392,812
)
 
1,461,828

Total real estate
66,976,039

 
(2,617,402
)
 
64,358,637

 
66,976,039

 
(2,224,792
)
 
64,751,247

Lease intangible assets:
 
 
 
 
 
 
 
 
 
 
 
In-place lease
15,852,232

 
(3,692,559
)
 
12,159,673

 
15,852,232

 
(3,138,675
)
 
12,713,557

Above-market rent
156,542

 
(29,260
)
 
127,282

 
156,542

 
(24,871
)
 
131,671

Total intangible assets
16,008,774

 
(3,721,819
)
 
12,286,955

 
16,008,774

 
(3,163,546
)
 
12,845,228

Lease intangible liabilities:
 
 
 
 
 
 
 
 
 
 
Below-market rent
(3,371,314
)
 
774,252

 
(2,597,062
)
 
(3,371,314
)
 
658,115

 
(2,713,199
)
Above-market ground lease
(8,896,270
)
 
217,247

 
(8,679,023
)
 
(8,896,270
)
 
184,660

 
(8,711,610
)
Total intangible liabilities
(12,267,584
)
 
991,499

 
(11,276,085
)
 
(12,267,584
)
 
842,775

 
(11,424,809
)
Total real estate
$
70,717,229

 
$
(5,347,722
)
 
$
65,369,507

 
$
70,717,229

 
$
(4,545,563
)
 
$
66,171,666

The following table presents the components of real estate operating revenues and expenses that are included in the consolidated statements of operations:
 
 
Three Months Ended March 31, 2020
 
Three Months Ended March 31, 2019
Real estate operating revenues:
 
 
 
 
Lease revenue
 
$
1,922,128

 
$
1,922,538

Other operating income
 
390,923

 
398,700

Total
 
$
2,313,051

 
$
2,321,238

Real estate operating expenses:
 
 
 
 
Utilities
 
$
39,022

 
$
33,762

Real estate taxes
 
232,875

 
80,360

Repairs and maintenances
 
237,132

 
209,843

Management fees
 
56,701

 
61,349

Lease expense, including amortization of above-market ground lease
 
283,538

 
283,538

Other operating expenses
 
95,250

 
87,003

Total
 
$
944,518

 
$
755,855
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
Scheduled future minimum rents, exclusive of renewals and expenses paid by tenants, under non-cancelable operating leases at March 31, 2020 are as follows: 
Years Ending December 31,
 
Total
2020 (April 1 through December 31)
 
$
5,060,780

2021
 
7,025,413

2022
 
7,547,261

2023
 
7,787,842

2024
 
8,026,942

Thereafter
 
5,836,010

Total
 
$
41,284,248
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Based on the intangible assets and liabilities recorded at March 31, 2020, scheduled annual net amortization of intangibles for each of the next five calendar years and thereafter is as follows:
Years Ending December 31,
 
Net Decrease in Real Estate Operating Revenue (1)
 
Increase in Depreciation and Amortization (1)
 
Decrease in Rent Expense (1)
 
Total
2020 (April 1 through December 31)
 
$
(335,247
)
 
$
1,661,652

 
$
(97,761
)
 
$
1,228,644

2021
 
(446,995
)
 
2,215,536

 
(130,348
)
 
1,638,193

2022
 
(446,995
)
 
2,215,536

 
(130,348
)
 
1,638,193

2023
 
(446,995
)
 
2,215,536

 
(130,348
)
 
1,638,193

2024
 
(446,995
)
 
2,215,536

 
(130,348
)
 
1,638,193

Thereafter
 
(346,553
)
 
1,635,877

 
(8,059,870
)
 
(6,770,546
)
Total
 
$
(2,469,780
)
 
$
12,159,673

 
$
(8,679,023
)
 
$
1,010,870

_______________
(1)
Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to lease revenues; amortization of in-place lease intangibles is included in depreciation and amortization; and amortization of above-market ground lease is recorded as a reduction to rent expense.
Ground Lease Disclosure [Table Text Block]
Supplemental non-cash information related to the ground lease was as follows:
 
 
Three Months Ended March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
 
 
Operating cash flows from operating leases
 
$
316,125

 
 
 
Right-of-use assets obtained in exchange for lease obligations
 
 
Operating leases
 
$
316,125

The component of lease expense for the ground lease was as follows:
 
 
 
Three Months Ended March 31, 2020
Operating lease cost
 
 
$
316,125

Supplemental balance sheet information related to the ground lease was as follows:    
 
 
March 31, 2020
Operating lease
 
 
Operating lease right-of-use assets
 
$
16,111,217

Operating lease liabilities
 
$
16,111,217

 
 
 
Weighted average remaining lease term — operating lease (years)
 
66.6

 
 
 
Weighted average discount rate — operating lease
 
7.9
%
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Maturities of operating lease liabilities are as follows:
Years Ending December 31,
 
Operating Lease
2020 (April 1 through December 31) (Year of rent reset)
 
$
948,375

2021
 
1,264,500

2022
 
1,264,500

2023
 
1,264,500

2024
 
1,264,500

Thereafter
 
78,135,563

Total lease payments
 
84,141,938

Less: Imputed interest
 
(68,030,721
)
Total
 
$
16,111,217