CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Rental Properties	$ 177,501,683	$ 149,116,084
Cash and Cash Equivalents	9,156,753	14,015,898
Rents Receivable	510,026	474,225
Insurance Recovery Receivable	412,502
Real Estate Tax Escrows	353,648	340,341
Prepaid Expenses and Other Assets	4,593,176	3,287,005
Investments in Unconsolidated Joint Ventures	8,299,289	8,807,868
Financing Fees	1,570,797	1,735,652
Total Assets	202,397,874	177,777,073
LIABILITIES AND PARTNERS' CAPITAL
Mortgage Notes Payable	195,972,822	196,071,540
Note Payable	25,000,000
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture	2,212,081	1,425,369
Accounts Payable and Accrued Expenses	4,626,872	3,099,117
Advance Rental Payments and Security Deposits	4,735,554	4,548,729
Total Liabilities	232,547,329	205,144,755
Partners' Capital 125,976 and 127,653 units outstanding in 2015 and 2014 respectively	(30,149,455)	(27,367,682)
Total Liabilities and Partners' Capital	$ 202,397,874	$ 177,777,073