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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows from Operating Activities      
Net income $ 5,655,385 $ 3,633,798 $ 9,291,281
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 8,377,902 6,012,755 5,839,312
Loss from investments in joint ventures 1,166,877 1,487,484 1,913,800
Gain on the sale of equipment (3,500)    
Depreciation and amortization - discontinued operations 2,111 79,969 101,566
Gain on the sale of rental property (3,678,839)   (7,720,459)
Change in operating assets and liabilities      
(Increase) Decrease in rents receivable (21,064) (40,831) 188,692
Increase (Decrease) in accounts payable and accrued expense 816,553 108,246 (186,445)
(Increase) Decrease in real estate tax escrow 74,093 (48,327) (99,472)
(Increase) Decrease in prepaid expenses and other assets 443,925 685,773 (432,957)
Increase in advance rental payments and security deposits 605,696 32,996 195,807
Total Adjustments 7,783,754 8,318,065 (200,156)
Net cash provided by operating activities 13,439,139 11,951,863 9,091,125
Cash Flows From Investing Activities      
Proceed from unconsolidated joint ventures 1,288,077 1,366,383 1,408,950
Distribution in excess of investment in unconsolidated joint ventures 1,687,750    
Investment in unconsolidated joint ventures (929,327) (59,383) (26,450)
Improvement of rental properties (4,499,924) (2,360,399) (2,618,794)
Proceeds from the sale of equipment 3,500    
Purchase of rental properties (22,601,774)   (10,041,784)
Net proceeds from the sale of rental property 2,138,978   8,297,928
Net cash (used in) investing activities (22,912,720) (1,053,399) (2,980,150)
Cash Flows from Financing Activities      
Payment of financing costs (971,630) (353,400) (105,564)
Proceeds of mortgage notes payable 28,268,115   5,000,000
Proceeds of note payable     3,998,573
Principal payments of mortgage notes payable (5,803,159) (1,106,091) (3,519,047)
Principal payments of note payable   (1,668,600) (6,998,573)
Stock buyback (1,094,609) (906,214)  
Distributions to partners (3,893,662) (3,932,410) (3,681,566)
Net cash provided by (used in) financing activities 16,505,055 (7,966,715) (5,306,177)
Net Increase in Cash and Cash Equivalents 7,031,474 2,931,749 804,798
Cash and Cash Equivalents, at beginning of period 6,981,906 4,050,157 3,245,361
Cash and Cash Equivalents, at end of period $ 14,013,380 $ 6,981,906 $ 4,050,157