Annual report pursuant to Section 13 and 15(d)

Notes Payable Related to Acquisitions and Revolving Credit Facility (Details)

v3.7.0.1
Notes Payable Related to Acquisitions and Revolving Credit Facility (Details) - USD ($)
1 Months Ended 12 Months Ended
Dec. 02, 2016
Jun. 05, 2014
Mar. 31, 2016
Sep. 25, 2015
Dec. 31, 2016
Dec. 31, 2015
Sep. 15, 2014
Debt Instrument [Line Items]              
Amortization of Financing Costs         $ 331,368 $ 126,535  
Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Amortization of Financing Costs         19,076    
Interest Expense, Debt         46,297    
Line of Credit Facility, Maximum Borrowing Capacity $ 75,000,000       200,000,000    
Line Of Credit Facility Additional Capacity $ 125,000,000            
Line of Credit Facility, Interest Rate Description (i) adjusted LIBOR plus 2.00% to 3.00% or (ii) a base rate plus 1.00% to 2.00%, in each case, depending upon the Companys consolidated leverage ratio.            
Line of Credit Facility, Commitment Fee Description (x) 0.20% if the average daily unused commitments are less than 50% of the commitments then in effect and (y) 0.30% if the average daily unused commitments are greater than or equal to 50% of the commitments then in effect and determined based on the average daily unused commitments during such previous quarter.            
Line of Credit Facility, Covenant Compliance The Operating Partnership is subject to ongoing compliance with a number of customary affirmative and negative covenants, including limitations with respect to liens, indebtedness, distributions, mergers, consolidations, investments, restricted payments and asset sales. The Operating Partnership must also maintain (i) a maximum consolidated leverage ratio, commencing with the fiscal quarter ending December 31, 2016 and as of the end of each fiscal quarter thereafter, of less than (y) 0.65:1.00 for each fiscal quarter ending prior to October 1, 2019 and (z) thereafter, 0.60:1.00, (ii) a minimum fixed charge coverage ratio of 1.50:1.00, (iii) a minimum net worth of $119,781,219 plus 75% of all net proceeds raised through subsequent equity offerings and (iv) a ratio of total secured recourse debt to total asset value of not greater than 0.10:1.00.            
Proceeds from Lines of Credit         27,700,000    
Cantor Loan [Member]              
Debt Instrument [Line Items]              
Repayments of Long-term Debt, Total     $ 9,223,500        
Long-term Debt, Total     $ 32,097,400   $ 32,097,400 32,097,400  
Debt Instrument, Interest Rate, Stated Percentage         5.22%    
Debt Instrument, Description         Prepayment can only occur within four months prior to the maturity date, except that after the earlier of (a) 2 years after the loan is placed in a securitized mortgage pool, or (b) May 6, 2020, the Cantor Loan can be fully and partially defeased upon payment of amounts due under the Cantor Loan and payment of a defeasance amount that is sufficient to purchase U.S. government securities equal to the scheduled payments of principal, interest, fees, and any other amounts due related to a full or partial defeasance under the Cantor Loan.    
Debt Instrument, Maturity Date         Apr. 06, 2026    
Debt Instrument, Covenant Description         maintain a monthly debt service coverage ratio of 1.35:1.00 for all of the collateral properties in the aggregate.    
Interest Expense, Debt         $ 1,279,884    
West Mifflin Note Payable [Member]              
Debt Instrument [Line Items]              
Long-term Debt, Total       $ 7,377,500 $ 7,377,500 7,377,500  
Debt Instrument, Interest Rate, Stated Percentage       3.72%      
Debt Instrument, Maturity Date       Sep. 25, 2020      
Debt Instrument, Covenant Description         The note requires a quarterly fixed charge coverage ratio of at least 1:1, a quarterly minimum debt yield of 0.09:1.00, and annualized Operator EBITDAR measured on a quarterly basis of not less than $6,000,000.    
Interest Expense, Debt         $ 279,017 51,078  
Asheville Note Payable [Member]              
Debt Instrument [Line Items]              
Long-term Debt, Total         0 1,662,101 $ 1,700,000
Debt Instrument, Interest Rate, Stated Percentage             4.75%
Interest Expense, Debt         76,318 81,160  
Debt Instrument, Periodic Payment, Principal         1,662,101 37,899  
Omaha Note Payable [Member]              
Debt Instrument [Line Items]              
Long-term Debt, Total   $ 15,060,000     0 14,748,464  
Debt Instrument, Interest Rate, Stated Percentage   4.91%          
Debt Instrument, Maturity Date   Jun. 05, 2017          
Interest Expense, Debt         487,714 679,987  
Debt Instrument, Periodic Payment, Principal         14,748,464 $ 311,536  
Debt Instrument, early termination fee amount         $ 301,200