Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Cash from Operations
Interest received	$ 1,481	$ 1,769	$ 2,636	$ 2,800
Other loan income	5	14	17	19
Operations expense	(1,498)	(1,322)	(2,544)	(2,467)
Rental operations, net	418	881	1,214	3,027
Holding costs	563	(47)	551	(75)
Mortgage interest and borrowing related fees	(255)	(838)	(466)	(1,195)
Other assets	3,411		3,411
Net cash provided by (used in) operations	4,125	457	4,819	2,109
Cash from Investing Activities
Principal collected on loans - secured	11,660	14,078	16,634	15,942
Unsecured loan payments received (made)	4	3	8	3
Loans originated	(28,550)	(10,326)	(46,770)	(20,980)
Loans sold to affiliates	2,000	1,637	2,000	4,637
Advances on loans		18	(11)	(103)
Total - Loans	(14,886)	5,410	(28,139)	(501)
Sales	2,363	13,162	5,201	14,341
Development	(84)	(500)	(245)	(1,235)
Non-controlling interest		(470)		(475)
Total - REO	2,279	12,192	4,956	12,631
Total cash from investing activities	(12,607)	17,602	(23,183)	12,130
Cash from Financing Activities
Mortgages taken		27,747		27,747
Principal payments	(1,065)	(17,679)	(1,207)	(17,881)
Total cash from financing activities	(1,065)	10,068	(1,207)	9,866
Net increase/(decrease) in cash before distributions	(9,547)	28,127	(19,571)	24,105
Cash – partner distributions	(651)	(573)	(1,322)	(1,142)
Formation loan payment, net of early withdrawal fees	104	81	204	81
Net increase/(decrease) in cash	(15,490)	23,188	(31,410)	16,388
Cash and cash equivalents, beginning of period	40,753	3,068	56,673	9,868
Cash and cash equivalents, end of period	25,263	26,256	25,263	26,256
Net income	1,473	3,009	2,597	4,084
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Amortization of borrowings-related origination fees	15	27	30	50
Provision for (recovery of) loan losses	(25)		(25)	400
REO – depreciation		78		301
REO – loss/(gain) on disposal	(281)	(1,672)	(784)	(1,992)
REO – impairment (gain)		(263)		(573)
Change in operation assets and liabilities
Accrued interest	(204)	252	(452)	(83)
Allowance for loan losses-recoveries	25		25
Receivable from affiliate		(52)		(52)
Other assets	3,454	(618)	3,414	(42)
Accounts payable and other liabilities	(335)	(402)	23	(125)
Payable to affiliate	3	98	(9)	141
Net cash provided by (used in) operations	4,125	457	4,819	2,109
Supplemental disclosures of cash flow information Non-cash investing activities
Real estate acquired through foreclosure/settlement on loans, net of liabilities assumed			416
Cash paid for interest	270	411	495	768
Liquidation [Member]
Cash from Financing Activities
Cash – partner distributions	$ (5,396)	$ (4,447)	$ (10,721)	$ (6,656)