| For the Years Ended December 31, | ||||||||||||
| 2017 | 2016 | 2015 | ||||||||||
| Net income for financial reporting purposes | $ | 11,852,468 | $ | 10,233,277 | $ | 17,437,154 | ||||||
| Adjustment to net loss on sale of investment in real estate property to reflect differences between tax and financial reporting bases of assets and liabilities | - | - | 749,124 | |||||||||
| Difference between tax and financial statement equity in net income/ loss of investment | (12,538,521 | ) | (8,999,145 | ) | (14,750,473 | ) | ||||||
| Difference between accrued investment management fees, mortgage interest and partnership administrative expenses recognized for tax purposes | 502,085 | 481,619 | (619,789 | ) | ||||||||
| Difference between tax and financial statement depreciation | 7,788 | 7,424 | (230,508 | ) | ||||||||
| Net income (loss) for Federal income tax reporting purposes | $ | (176,180 | ) | $ | 1,723,175 | $ | 2,585,508 | |||||
| Net ordinary income (loss) for Federal income tax reporting purposes | $ | 1,681,612 | $ | 1,723,175 | $ | (1,043,005 | ) | |||||
| Net capital (Sec. 1231) gain (loss) for Federal income tax reporting purposes | (1,857,792 | ) | - | 3,628,513 | ||||||||
| $ | (176,180 | ) | $ | 1,723,175 | $ | 2,585,508 | ||||||
| Weighted average number of units of limited partnership interest outstanding | 7,753 | 7,753 | 7,753 | |||||||||