Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Assets [Abstract]
Cash and cash equivalents	$ 64,511,676	$ 11,318,015
Restricted cash	11,108,005	6,845,543
Interest receivable	5,176,170	3,342,038
Mortgage revenue bonds held in trust, at fair value	350,940,711	216,371,801
Mortgage revenue bonds, at fair value	53,848,411	68,946,370
Public housing capital fund trusts, at fair value	60,537,086	62,056,379
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	38,878,702	37,845,661
Real estate assets:
Land and improvements	11,083,192	11,081,992
Buildings and improvements	131,479,005	111,195,695
Real estate assets before accumulated depreciation	142,562,197	122,277,687
Accumulated depreciation	(23,063,099)	(19,128,753)
Net real estate assets	119,499,098	103,148,934
Other assets	31,508,014	24,358,291
Total assets	736,007,873	534,233,032
Liabilities [Abstract]
Accounts payable, accrued expenses and other liabilities	7,401,339	5,450,694
Distribution payable	7,607,692	6,446,076
Debt financing	346,957,000	257,274,000
Mortgages payable	72,585,842	57,087,320
Bond Purchase Commitment - Fair Market Value Adjustment	0	4,852,177
Total Liabilities	434,551,873	331,110,267
Commitments and Contingencies
Partners' Capital
General Partner	491,349	16,671
Beneficial Unit Certificate holders	321,855,180	223,573,312
Unallocated deficit of Consolidated VIEs	(20,875,581)	(20,455,896)
Total Partners' Capital	301,470,948	203,134,087
Noncontrolling interest	(14,948)	(11,322)
Total Capital	301,456,000	203,122,765
Total Liabilities and Partners' Capital	$ 736,007,873	$ 534,233,032

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.

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