Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2017

Commitments And Contingencies [Abstract]

Long-term Purchase Commitment

The following table represents the bond purchase commitments at June 30, 2017 and December 31, 2016:

Bond Purchase Commitments	Commitment Date	Maximum Committed Amounts for 2017		Maximum Committed Amounts for 2018		Rate			Closing Date (1)	Fair Value at June 30, 2017		Fair Value at December 31,2016
Villas at Plano Gateway Apartments	December 2014	$	-	$	-		6.00	%	N/A	$	-	$	838,200
Village at Rivers Edge	May 2015		11,000,000		-		6.00	%	Q3 2017		850,437		467,720
Palo Alto	July 2015		-		19,540,000		5.80	%	Q1 2018		1,207,209		627,429
Village at Avalon	November 2015		-		16,400,000		5.80	%	Q2 2018		1,107,526		466,100
Total		$	11,000,000	$	35,940,000					$	3,165,172	$	2,399,449

⁽¹⁾ The closing dates are estimated.