Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Assets [Abstract]
Cash and cash equivalents	$ 11,906,607	$ 30,172,773
Restricted cash	7,697,739	5,471,522
Interest receivable	8,012,423	8,473,360
Tax-exempt mortgage revenue bonds held in trust, at fair value	154,914,137	99,534,082
Tax-exempt mortgage revenue bonds, at fair value	48,161,743	45,703,294
Public housing capital fund trusts, at fair value	61,793,516	65,389,298
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	38,880,996	32,121,412
Real estate assets:
Land	12,491,559	11,202,876
Buildings and improvements	115,981,355	93,615,479
Real estate assets before accumulated depreciation	128,472,914	104,818,355
Accumulated depreciation	(23,138,783)	(19,330,063)
Net real estate assets	105,334,131	85,488,292
Other assets	13,353,435	8,216,295
Assets of discontinued operations	0	32,580,427
Total assets	450,054,727	413,150,755
Liabilities [Abstract]
Accounts payable, accrued expenses and other liabilities	5,160,479	5,013,947
Distribution payable	5,400,622	5,566,908
Debt financing	226,569,000	177,948,000
Mortgages payable	51,802,031	39,119,507
Bond Purchase Commitment - Fair Market Value Adjustment	4,865,536	0
Liabilities of discontinued operations	0	1,531,462
Total Liabilities	293,797,668	229,179,824
Commitments and Contingencies
Partners' Capital
General Partner	84,551	(430,087)
Beneficial Unit Certificate holders	182,079,780	207,383,087
Unallocated deficit of Consolidated VIEs	(25,897,611)	(25,035,808)
Total Partners' Capital	156,266,720	181,917,192
Noncontrolling interest	(9,661)	2,053,739
Total Capital	156,257,059	183,970,931
Total Liabilities and Partners' Capital	$ 450,054,727	$ 413,150,755

This element represents the portion of the balance sheet assertion valued at fair value by the entity, which is held in trust, whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may by ued in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all sescuritized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

No definition available.