Consolidated Statements of Operations (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Revenue, net
Loans	$ 542	$ 1,944	$ 1,300	$ 5,018
Imputed interest on formation loan	79	142	204	289
Other interest income	1	16	2	39
Total interest income	622	2,102	1,506	5,346
Interest expense
Bank loan, secured	630	893	1,360	1,810
Mortgages payable	773	286	1,325	331
Amortization of discount on formation loan	79	142	204	289
Total interest expense	1,482	1,321	2,889	2,430
Net interest income/(expense)	(860)	781	(1,383)	2,916
Late fees	1	4	4	28
Other	2	3	4	7
Total revenues, net	(857)	788	(1,375)	2,951
Provision/(recovery) for loan losses	(1,262)	12,001	(1,262)	12,302
Operating Expenses
Mortgage servicing fees	1,091	303	1,273	886
Asset management fees	240	306	487	610
Costs from Redwood Mortgage Corp.	456	112	566	224
Professional services	398	420	522	782
REO
Rental operations, net	(224)	274	(817)	134
Holding costs	455	278	805	333
Loss on disposal	54	338	54	561
Impairment loss	1,593		1,593	89
Other	(3)	61	14	100
Total operating expenses	4,060	2,092	4,497	3,719
Net income (loss)	(3,655)	(13,305)	(4,610)	(13,070)
Net income (loss)
Limited partners (99%)	(3,619)	(13,172)	(4,564)	(12,939)
General partners (1%)	(36)	(133)	(46)	(131)
[ProfitLoss]	$ (3,655)	$ (13,305)	$ (4,610)	$ (13,070)
Where Income IsReinvested [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	(13)	(40)	(17)	(39)
Where Partner Receives Income InMonthly 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	(14)	(41)	(18)	(40)