CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities
Net income	$ 1,230,764	$ 409,658
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	3,027,154	2,441,527
Amortization of deferred financing costs	46,853	42,767
(Income) Loss from investments in joint venture	(369,604)	(125,234)
Change in operating assets and liabilities
(Increase) in rents receivable	53,089	(25,776)
Increase (Decrease) in accounts payable and accrued expense	(1,595,194)	(414,728)
(Increase) in insurance recovery receivable	96,676
(Increase) Decrease in real estate tax escrow	(25,632)	(3,144)
(Increase) in prepaid expenses and other assets	679,977	1,994
Increase in advance rental payments and security deposits	191,269	40,742
Total Adjustments	2,104,588	1,958,148
Net cash provided by operating activities	3,335,352	2,367,806
Cash Flows From Investing Activities
Proceeds from unconsolidated joint ventures	688,616	653,843
Distribution in excess of investment in unconsolidated joint ventures	165,000	82,500
(Investment) in unconsolidated joint ventures	(8,616)	(8,843)
Improvement of rental properties	(1,438,120)	(872,165)
Net cash (used in) investing activities	(593,120)	(144,665)
Cash Flows from Financing Activities
Payment of financing costs	(174,718)
Proceeds of mortgage notes payable	20,071,000
Payment of note payable	(25,000,000)
Principal payments of mortgage notes payable	(132,712)	(32,898)
Stock buyback	(694,380)	(1,218,440)
Distributions to partners	(936,925)	(951,330)
Net cash provided by (used in) financing activities	(6,867,735)	(2,202,668)
Net (Decrease) in Cash and Cash Equivalents	(4,125,503)	20,473
Cash and Cash Equivalents, at beginning of period	10,298,186	14,015,898
Cash and Cash Equivalents, at end of period	$ 6,172,683	$ 14,036,371