Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenue, net
Loans	$ 423,000	$ 542,000	$ 746,000	$ 1,300,000
Imputed interest on formation loan	41,000	79,000	93,000	204,000
Other interest income		1,000	1,000	2,000
Total interest income	464,000	622,000	840,000	1,506,000
Bank loan, secured	174,000	630,000	455,000	1,360,000
Mortgages payable	735,000	773,000	1,319,000	1,325,000
Amortization of discount on formation loan	41,000	79,000	93,000	204,000
Other interest expense	1,000		1,000
Total interest expense	951,000	1,482,000	1,868,000	2,889,000
Net interest income/(expense)	(487,000)	(860,000)	(1,028,000)	(1,383,000)
Late fees	6,000	1,000	13,000	4,000
Other		2,000	3,000	4,000
Total revenues, net	(481,000)	(857,000)	(1,012,000)	(1,375,000)
Provision/(recovery) for loan losses	139,000	(1,262,000)	139,000	(1,262,000)
Operating expenses
Mortgage servicing fees	178,000	1,091,000	358,000	1,273,000
Asset management fees	224,000	240,000	450,000	487,000
Costs from Redwood Mortgage Corp.	317,000	456,000	678,000	566,000
Professional services	732,000	688,000	1,063,000	991,000
REO
Rental operations, net	(605,000)	(384,000)	(1,410,000)	(1,096,000)
Holding costs	290,000	324,000	720,000	615,000
Loss/(gain) on disposal	(48,000)	54,000	(54,000)	54,000
Impairment loss	86,000	1,593,000	86,000	1,593,000
Other	63,000	(2,000)	110,000	14,000
Total operating expenses	1,237,000	4,060,000	2,001,000	4,497,000
Net income (loss)	(1,857,000)	(3,655,000)	(3,152,000)	(4,610,000)
Net income (loss)
General partners (1%)	(19,000)	(36,000)	(32,000)	(46,000)
Limited partners (99%)	(1,838,000)	(3,619,000)	(3,120,000)	(4,564,000)
	$ (1,857,000)	$ (3,655,000)	$ (3,152,000)	$ (4,610,000)
Where Income Is Reinvested [Member]
Net income (loss) per $1,000 invested by limited partners for entire period
Net income (loss) per $1,000 invested by limited partners for entire period (in Dollars per Item)	(8)	(13)	(14)	(17)
Where Partner Receives Income In Monthly Distributions [Member]
Net income (loss) per $1,000 invested by limited partners for entire period
Net income (loss) per $1,000 invested by limited partners for entire period (in Dollars per Item)	(9)	(14)	(14)	(18)