Investment in Joint Ventures

6 Months Ended

Jun. 30, 2011

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Disclosure [Text Block]

INVESTMENT IN JOINT VENTURES

Summary of Financial Information

Condensed financial information for the joint ventures in which the Partnership held direct interests for the three months and six months ended June 30, 2011 and 2010, respectively, is presented below:

	Total Revenues				Income (Loss) From Continuing Operations						Income (Loss) From Discontinued Operations					Net Income (Loss)
	Three Months Ended				Three Months Ended						Three Months Ended					Three Months Ended
	June 30,				June 30,						June 30,					June 30,
	2011		2010		2011			2010			2011		2010			2011		2010
Fund VIII-IX Associates	$	485,944	$	477,111	$	85,770		$	86,483		$	—	$	—		$	85,770	$	86,483
Fund IX-X-XI-REIT Associates	—		—		(3,521		)	(4,861		)	1,288,401		(1,430,803		)	1,284,880		(1,435,664		)
	$	485,944	$	477,111	$	82,249		$	81,622		$	1,288,401	$	(1,430,803	)	$	1,370,650	$	(1,349,181	)

	Total Revenues				Income (Loss) From Continuing Operations						Income (Loss) From Discontinued Operations					Net Income (Loss)
	Six Months Ended				Six Months Ended						Six Months Ended					Six Months Ended
	June 30,				June 30,						June 30,					June 30,
	2011		2010		2011			2010			2011		2010			2011		2010
Fund VIII-IX Associates	$	966,170	$	988,613	$	152,787		$	191,897		$	—	$	—		$	152,787	$	191,897
Fund IX-X-XI-REIT Associates	—		—		(20,626		)	(13,130		)	1,351,115		(1,458,720		)	1,330,489		(1,471,850		)
	$	966,170	$	988,613	$	132,161		$	178,767		$	1,351,115	$	(1,458,720	)	$	1,483,276	$	(1,279,953	)

The Partnership allocates its share of net income, net loss, and gain on sale generated by the properties owned by the Joint Ventures to its Class A and Class B limited partners pursuant to the partnership agreement provisions outlined in Note 2. The components of income (loss) from discontinued operations recognized by the Joint Ventures are provided below:

	Six Months Ended						Six Months Ended
	June 30, 2011						June 30, 2010
	Operating Income		Gain on Sale		Total		Operating Loss			Impairment Loss			Gain on Sale		Total
Fund IX-X-XI-REIT Associates	$	122,363	$	1,228,752	$	1,351,115	$	(10,503	)	$	(1,448,217	)	$	—	$	(1,458,720	)

Due from Joint Ventures

As presented in the accompanying balance sheets, due from joint ventures as of June 30, 2011 and December 31, 2010 represents operating cash flow generated by Fund VIII-IX Associates for the three months ended June 30, 2011 and December 31, 2010, respectively, which is attributable to the Partnership.