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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net Income $ (3,907,672) $ 3,795,719
Adjustments to reconcile net income to net cash provided by operating activities    
Interest accrued on U.S. Treasury Bills   104,961
Depreciation and amortization 7,965,210 3,904,983
Amortization of deferred finance costs 136,851 94,946
(Income) from investments in joint ventures (343,302) (362,629)
Loss on sale of real estate 150,963  
Change in operating assets and liabilities    
Proceeds from unconsolidated joint ventures 35,000 32,500
(Increase) Decrease in rents receivable (222,858) 125,922
(Decrease) in accounts payable and accrued expense (1,420,695) (2,390,536)
Decrease (Increase) in real estate tax escrow (218,606) 66,240
Decrease in prepaid expenses and other assets 623,844 98,449
Increase (Decrease) in advance rental payments and security deposits (491,778) 7,074
Total Adjustments 6,214,629 1,681,910
Net cash provided by operating activities 2,306,957 5,477,629
Cash Flows From Investing Activities    
Distribution in excess of investment in unconsolidated joint ventures 310,000 450,000
Investment in U.S. Treasury Bills   (31,060,131)
Proceeds from U.S. Treasury Bills   56,508,589
Developing of rental property and other related costs   (2,589,943)
Improvement of rental properties (3,822,616) (2,112,160)
Sale of rental properties 2,438,747  
Net cash provided by investing activities (1,073,869) 21,196,355
Cash Flows from Financing Activities    
Principal payments of mortgage notes payable (813,356) (816,477)
Stock buyback (134,196) (9,053)
Distributions to partners (1,394,763) (12,600,657)
Net cash (used in) provided by financing activities (2,342,315) (13,426,187)
Net Increase in Cash and Cash Equivalents (1,109,227) 13,247,797
Cash and Cash Equivalents, at beginning of period 26,668,978 17,615,940
Cash and Cash Equivalents, at end of period $ 25,559,751 $ 30,863,737