Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2022

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 year ended December 31, 2021 and the nine months ended September 30, 2022, as well as any related amounts payable as of December 31, 2021 and September 30, 2022:

	Year Ended December 31, 2021			Nine Months Ended September 30, 2022
	Incurred	Paid	Payable	Incurred	Paid	Payable
Expensed
Operating expenses    (including organizational costs)	$1,120,374	$997,903	$122,471	$1,483,596	$876,746	$729,321
Asset management fees	178,282	156,138	22,144	875,618	891,842	5,920
Property management fees	96,505	88,300	8,205	359,989	364,665	3,529
Transfer Agent expenses	42,949	42,949	—	176,255	176,255	—
Acquisition expenses (1)	662,957	551,302	111,655	449,625	429,250	132,030
Capitalized
Acquisition related (2)	1,442,319	1,046,673	395,646	3,829,783	4,225,429	—
Additional Paid-in Capital
Offering costs	501,712	436,212	65,500	50,000	115,500	—
Total	$4,045,098	$3,319,477	$725,621	$7,224,866	$7,079,687	$870,800

(1)Amounts include third party acquisition expenses paid by our Sponsor and reimbursed by the Company.

Amounts include acquisition fees paid to our Sponsor and third party earnest money deposits paid by our Sponsor and reimbursed by the Company.