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Investments in Real Estate (Tables)
 6 Months Ended
Jun. 30, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]  
Schedule of Real Estate Properties [Table Text Block]
As of June 30, 2020 and December 31, 2019, investments in real estate, net, consisted of the following:
 
 
  
June 30, 2020
 
  
December 31, 2019
 
Building and building improvements
  
$
    227,034,501
 
  
$
199,478,457
 
Land
  
 
24,081,716
 
  
 
19,667,140
 
Tenant improvements
  
 
9,077,830
 
  
 
4,314,057
 
Furniture, fixtures and equipment
  
 
2,825,943
 
  
 
2,749,914
 
Accumulated depreciation
  
 
(7,323,710
) 
  
 
(2,865,137
) 
 
  
 
 
 
  
 
 
 
Investments in real estate, net
  
$
255,696,280
 
  
$
223,344,431
 
 
  
 
 
 
  
 
 
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
The following table summarizes the purchase price allocation of the property acquired during the six months ended June 30, 2020:
 
 
  
Lakes at West Covina
 
Building and building improvements
  
$
26,806,026
 
Land
  
 
4,414,576
 
Tenant improvements
  
 
4,205,936
 
In-place
lease intangibles
  
 
3,909,726
 
Lease origination costs
  
 
1,726,732
 
Above-market lease intangibles
  
 
5,753
 
Below-market lease intangibles
  
 
(44,030
) 
  
 
 
 
Total purchase price
(1)
  
$
41,024,719
 
  
 
 
 
 
(1)
  
Purchase price is inclusive of closing costs.