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Discontinued Operations (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Revenues:    
Rental $ 2,656,689 [1] $ 3,601,995
General and administrative expenes 0 [1] 5,733
Rental property expenses:    
Operating 1,850,580 [1] 2,442,675
Interest on mortgage debt 1,673,956 [1] 2,212,340
Real estate taxes 236,122 [1] 314,970
Amortization of in-place lease values and mortgage costs 0 [1] 3,456
Total rental property expense 3,760,658 [1] 4,979,174
Other income:    
Investment income 2,062 [1] 3,255
Loss from discontinued operations (1,101,907) [1] (1,373,924)
Net gain from foreclosure of discontinued operations 4,705,968 [1] 0
Net Income (loss) from discontinued operations 3,604,061 [1] (1,373,924)
Assets related to discontinued operations:    
Land 0 1,905,985
Buildings 0 13,829,390
Furniture and equipment 0 6,375
Less: accumulated depreciation 0 (2,087,424)
Net real estate 0 13,654,326
Other assets 45,793 544,480
Total assets related to discontinued operations 45,793 14,198,806
Liabilities related to discontinued operations:    
Mortgage debt 0 14,009,797
Mortgage related interest and fees 0 3,287,507
Other liabilities 48,368 546,185
Total liabilities related to discontinued operations $ 48,368 $ 17,843,489
[1] All revenues and the majority of expenses were incurred through September 23, 2013, date of foreclosure. Costs of $106,463 were incurred from September 24, 2013 through December 31, 2013 in connection with closing costs associated with the foreclosure.