Properties Held for Sale and Property and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

3. Properties Held for Sale and Property and Equipment

The Partnership obtained an independent appraisal report dated March 2012 valuing the properties held for sale at December 31, 2011. Based upon this appraisal, management determined that no additional valuation allowances were required. Management believes the properties held for sale are not reported in excess of their fair values at December 31, 2011 or 2010.

A summary of properties held for sale and property and equipment at December 31, 2011 and 2010 is as follows:

	2011			2010
Properties held for sale
Boiling Spring Lakes land held for sale	$	926,440		$	932,862
Less valuation allowance		(535,243	)		(538,914	)
Total properties held for sale		391,197			393,948
Property and equipment
Land and land improvement		248,738			248,738
Buildings		58,301			58,301
Equipment		11,045			11,045
		318,084			318,084
Less accumulated depreciation		(90,145	)		(86,595	)
Total property and equipment, net		227,939			231,489
Total properties held for sale and property
and equipment, net	$	619,136		$	625,437