Note A - Organization and Summary of Significant Accounting Policies: Basis of Presentation (Policies)

12 Months Ended

Dec. 31, 2012

Policies

Basis of Presentation

Basis of Presentation

The accompanying statement of operations for the year ended December 31, 2011 has been restated to reflect the operations of Greenspoint at Paradise Valley and Tamarind Bay Apartments as loss from discontinued operations and the accompanying balance sheet as of December 31, 2011 has also been restated to reflect the respective assets and liabilities of Greenspoint at Paradise Valley and Tamarind Bay Apartments as held for sale due to their sales on March 29, 2012 and September 28, 2012, respectively.

The following table presents summarized results of operations for Greenspoint at Paradise Valley and Tamarind Bay Apartments for the years ended December 31, 2012 and 2011 (in thousands):

	Year Ended December 31, 2012	Year Ended December 31, 2011
Revenues	$ 2,083	$ 4,835
Expenses	(2,875)	(6,589)
Loss on early extinguishment of debt	(2,701)	--
Loss from discontinued operations	$(3,493)	$(1,754)