Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Summary of Related Party Costs

Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the years ended December 31, 2023 and 2022, as well as any related amounts payable, which are included in due to affiliates on the accompanying consolidated balance sheets as of December 31, 2023 and 2022:

	Year Ended December 31, 2022						Year Ended December 31, 2023
	Incurred		Paid		Payable		Incurred		Paid		Payable
Expensed
Operating expenses (including    organizational costs)	$	453,432	$	453,432	$	—	$	527,934	$	249,904	$	278,030
Transfer Agent expenses		103,782		103,782		—		116,991		116,991		—
Asset management fees		1,942,698		1,033,266		8,833,418		1,943,495		183,105		10,593,808
Property management oversight fees		493,956		—		2,103,788		540,808		—		2,644,596
Disposition Fee		250,000		250,000		—		—		—		—
Capitalized
Acquisition expenses - affiliates		—		—		1,980,000		—		—		1,980,000
Additional Paid-in Capital
Offering costs		—		—		166,881		—		—		166,881
Total	$	3,243,868	$	1,840,480	$	13,084,087	$	3,129,228	$	550,000	$	15,663,315