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Condensed Consolidated Statements of Cash Flow (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ 5,839,945 $ (165,152)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Share of income from partnerships (64,903) (782,530)
Impairment loss 774,400 0
Receipt of distributions from partnerships 137,333 0
Amortization of deferred costs 1,691 2,463
Gain on disposition of property (5,673,020) 0
Forgiveness of debt (1,841,889) 0
Changes in assets and liabilities:    
Increase in accrued interest payable 357,128 373,707
(Decrease) increase in accounts payable and accrued expenses (12,449) 704
Net cash used in operating activities (481,764) (570,808)
Cash flows from investing activities:    
Receipt of distributions from partnerships 2,406,619 5,541,943
Disposition fee paid (205,000) (70,000)
Net cash provided by investing activities 2,201,619 5,471,943
Net increase in cash and cash equivalents 1,719,855 4,901,135
Cash and cash equivalents, beginning of period 9,638,145 3,962,648
Cash and cash equivalents, end of period 11,358,000 8,863,783
Cash paid for interest 0 0
Supplementary disclosure of non cash operating and investing activities:    
Purchase money note and accrued interest paid directly to the note holder on sale date of Northridge Park $ 3,485,055 $ 0