Greystone Housing Impact Investors (GHI) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Entity Registrant Name	AMERICA FIRST MULTIFAMILY INVESTORS, L.P.
Entity Central Index Key	0001059142
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Units Outstanding		22,247,456
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	000-24843
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0810385
Entity Address, Address Line One	14301 FNB Parkway
Entity Address, Address Line Two	Suite 211
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68154
City Area Code	402
Local Phone Number	952-1235
Document Quarterly Report	true
Document Transition Report	false
Title of each class	Beneficial Unit Certificates representing assignments of limited partnership interests in America First Multifamily Investors, L.P.
Trading Symbol	ATAX
Name of each exchange on which registered	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Assets:
Cash and cash equivalents	$ 103,203,582	$ 68,285,501
Restricted cash	45,850,046	83,646,969
Interest receivable, net	9,402,254	9,234,412
Mortgage revenue bonds held in trust, at fair value (Note 6)	675,905,519	750,934,848
Mortgage revenue bonds, at fair value (Note 6)	19,163,911	42,574,996
Governmental issuer loans (Note 7)	281,275,255	184,767,450
Real estate assets: (Note 8)
Land and improvements	7,417,772	7,411,079
Buildings and Improvements	73,921,801	72,998,475
Real estate assets before accumulated depreciation	81,339,573	80,409,554
Accumulated depreciation	(22,740,549)	(20,701,922)
Net real estate assets	58,599,024	59,707,632
Investments in unconsolidated entities (Note 9)	103,103,246	107,793,522
Property loans, net of loan loss allowances (Note 10)	123,867,490	68,101,268
Other assets (Note 12)	29,716,668	10,862,885
Total Assets	1,450,086,995	1,385,909,483
Liabilities:
Accounts payable, accrued expenses and other liabilities (Note 13)	16,366,122	13,664,212
Distribution payable	8,312,836	12,757,459
Secured lines of credit (Note 14)	30,942,000	45,714,000
Debt financing, net (Note 15)	962,615,366	820,078,714
Mortgages payable and other secured financing, net (Note 16)	26,230,855	26,824,543
Total Liabilities	1,044,467,179	919,038,928
Commitments and Contingencies (Note 18)
Redeemable Preferred Units, approximately $94.5 million redemption value, 9.5 million issued and outstanding, net (Note 19)	94,452,679	94,458,528
Partnersʼ Capital:
General Partner (Note 1)	66,795	765,550
Beneficial Unit Certificates ("BUCs," Note 1)	311,100,342	371,646,477
Total Partnersʼ Capital	311,167,137	372,412,027
Total Liabilities and Partnersʼ Capital	$ 1,450,086,995	$ 1,385,909,483

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Redeemable preferred units redemption value	$ 94.5	$ 94.5
Redeemable preferred units, issued	9.5	9.5
Redeemable preferred units, outstanding	9.5	9.5

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Investment income		$ 16,563,509	$ 13,619,994	$ 44,792,212	$ 40,305,861
Property revenues		1,914,200	1,811,778	5,785,742	5,294,475
Contingent interest income			1,848,825		1,848,825
Other interest income		4,126,695	401,304	8,465,788	1,026,724
Total revenues		22,604,404	17,681,901	59,043,742	48,475,885
Expenses:
Real estate operating (exclusive of items shown below)		1,520,589	1,239,614	3,563,672	3,007,979
Provision for credit loss					900,080
Provision for loan loss					330,116
Depreciation and amortization		688,488	680,925	2,056,512	2,049,269
Interest expense		8,035,982	5,663,452	18,750,079	16,248,023
General and administrative		4,505,056	4,145,317	11,995,781	10,894,937
Total expenses		14,750,115	11,729,308	36,366,044	33,430,404
Other Income:
Gain on sale of investments in unconsolidated entities		10,580,781	6,954,649	39,664,032	15,227,239
Income before income taxes		18,435,070	12,907,242	62,341,730	30,272,720
Income tax expense (benefit)		(81,523)	(81,142)	(45,562)	26,802
Net income		18,516,593	12,988,384	62,387,292	30,245,918
Redeemable Preferred Unit distributions and accretion		(716,490)	(717,762)	(2,150,734)	(2,153,288)
Net income available to Partners		17,800,103	12,270,622	60,236,558	28,092,630
Net income available to Partners allocated to:
General Partner		142,394	579,266	3,111,474	2,722,908
Net income available to Partners and noncontrolling interest		$ 17,800,103	$ 12,270,622	$ 60,236,558	$ 28,092,630
BUC holders' interest in net income per BUC, basic	[1]	$ 0.79	$ 0.57	$ 2.56	$ 1.24
BUC holders' interest in net income per BUC, diluted	[1]	$ 0.79	$ 0.57	$ 2.56	$ 1.24
Weighted average number of BUCs outstanding, basic	[1]	22,247,781	20,426,559	22,247,336	20,423,679
Weighted average number of BUCs outstanding, diluted	[1]	22,247,781	20,426,559	22,247,336	20,423,679
Beneficial Unit Certificate Holders [Member]
Net income available to Partners allocated to:
Limited Partners		$ 17,552,792	$ 11,627,197	$ 56,882,236	$ 25,268,441
Restricted Unitholders [Member]
Net income available to Partners allocated to:
Limited Partners		$ 104,917	$ 64,159	$ 242,848	$ 101,281
[1] On April 1, 2022, the Partnership effected a one-for-three reverse unit split of its outstanding BUCs (the “Reverse Unit Split”). On October 31, 2022, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.01044 BUCs for each BUC outstanding as of September 30, 2022 (the “BUCs Distribution”). The amounts indicated in the Condensed Consolidated Statements of Operations have been adjusted to reflect both the Reverse Unit Split and the BUCs Distribution on a retroactive basis.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Beneficial unit certificates distribution ratio	0.01044	0.01044	0.01044	0.01044

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Consolidated Statements Of Comprehensive Income [Abstract]
Net income	$ 18,516,593	$ 12,988,384	$ 62,387,292	$ 30,245,918
Unrealized loss on securities	(22,688,696)	(4,586,145)	(90,320,354)	(18,951,770)
Unrealized gain (loss) on bond purchase commitments	(91,864)	8,708	(1,047,315)	(30,656)
Comprehensive income (loss)	$ (4,263,967)	$ 8,410,947	$ (28,980,377)	$ 11,263,492

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Partners' Capital (Unaudited) - USD ($)	Total	Tier 2 [Member]	Tier 3 [Member]	General Partner [Member]	General Partner [Member] Tier 2 [Member]	BUCs - Restricted and Unrestricted [Member]	BUCs - Restricted and Unrestricted [Member] Tier 2 [Member]	BUCs - Restricted and Unrestricted [Member] Tier 3 [Member]	Number of BUCs - Restricted and Unrestricted [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2020	$ 359,772,042			$ 934,892		$ 358,837,150				$ 132,594,007
Partners' Capital Account, Units at Dec. 31, 2020									20,484,934
Distributions paid or accrued:
Regular distribution	(3,401,314)			(34,013)		(3,367,301)
Distribution of (income) loss (Note 3)		$ (2,809,106)			$ (702,277)		$ (2,106,829)
Net income (loss) allocable to Partners	6,275,091			736,936		5,538,155
Restricted unit compensation expense	78,114			781		77,333
Unrealized gain (loss) on securities	(16,298,797)			(162,988)		(16,135,809)				(16,298,797)
Unrealized loss on bond purchase commitments	(120,970)			(1,210)		(119,760)				(120,970)
Balance at Mar. 31, 2021	343,495,060			772,121		342,722,939				116,174,240
Partners' Capital Account, Units at Mar. 31, 2021									20,484,934
Balance at Dec. 31, 2020	359,772,042			934,892		358,837,150				132,594,007
Partners' Capital Account, Units at Dec. 31, 2020									20,484,934
Distributions paid or accrued:
Net income (loss) allocable to Partners	28,092,630
Unrealized loss on bond purchase commitments	(30,656)
Balance at Sep. 30, 2021	377,472,418			813,097		376,659,321				113,611,581
Partners' Capital Account, Units at Sep. 30, 2021									22,338,625
Balance at Mar. 31, 2021	343,495,060			772,121		342,722,939				116,174,240
Partners' Capital Account, Units at Mar. 31, 2021									20,484,934
Distributions paid or accrued:
Regular distribution	(2,624,057)			(26,241)		(2,597,816)
Distribution of (income) loss (Note 3)		(5,463,484)			(1,365,870)		(4,097,614)
Net income (loss) allocable to Partners	9,546,917			1,406,706		8,140,211
Repurchase of BUCs, Value	(1,363,736)					(1,363,736)
Repurchase of BUCs, Units									(74,927)
Restricted units awarded									88,775
Restricted unit compensation expense	190,970			1,910		189,060
Unrealized gain (loss) on securities	1,933,172			19,332		1,913,840				1,933,172
Unrealized loss on bond purchase commitments	81,606			816		80,790				81,606
Balance at Jun. 30, 2021	345,796,448			808,774		344,987,674				118,189,018
Partners' Capital Account, Units at Jun. 30, 2021									20,498,782
Distributions paid or accrued:
Distribution of (income) loss (Note 3)		(2,139,488)	$ (5,691,689)		(534,873)		(1,604,615)	$ (5,691,689)
Net income (loss) allocable to Partners	12,270,622			579,266		11,691,356
Sale of BUCs, net of issuance costs, Value	31,243,495					31,243,495
Sale of BUCs, net of issuance costs, Units									1,839,843
Restricted unit compensation expense	570,467			5,705		564,762
Unrealized gain (loss) on securities	(4,586,145)			(45,862)		(4,540,283)				(4,586,145)
Unrealized loss on bond purchase commitments	8,708			87		8,621				8,708
Balance at Sep. 30, 2021	377,472,418			813,097		376,659,321				113,611,581
Partners' Capital Account, Units at Sep. 30, 2021									22,338,625
Balance at Dec. 31, 2021	372,412,027			765,550		371,646,477				114,040,260
Partners' Capital Account, Units at Dec. 31, 2021									22,324,012
Distributions paid or accrued:
Distribution of (income) loss (Note 3)		(9,721,430)			(2,430,358)		(7,291,072)
Net income (loss) allocable to Partners	25,546,274			2,737,044		22,809,230
Restricted unit compensation expense	173,898			1,739		172,159
Unrealized gain (loss) on securities	(47,751,656)			(477,517)		(47,274,139)				(47,751,656)
Unrealized loss on bond purchase commitments	(819,081)			(8,191)		(810,890)				(819,081)
Balance at Mar. 31, 2022	339,840,032			588,267		339,251,765				65,469,523
Partners' Capital Account, Units at Mar. 31, 2022									22,324,012
Balance at Dec. 31, 2021	372,412,027			765,550		371,646,477				114,040,260
Partners' Capital Account, Units at Dec. 31, 2021									22,324,012
Distributions paid or accrued:
Net income (loss) allocable to Partners	60,236,558
Unrealized loss on bond purchase commitments	(1,047,315)
Balance at Sep. 30, 2022	311,167,137			(66,795)		311,100,342				22,672,591
Partners' Capital Account, Units at Sep. 30, 2022									22,416,215
Balance at Mar. 31, 2022	339,840,032			588,267		339,251,765				65,469,523
Partners' Capital Account, Units at Mar. 31, 2022									22,324,012
Distributions paid or accrued:
Distribution of (income) loss (Note 3)		(1,620,764)	(11,378,312)		(405,190)		(1,215,574)	(11,378,312)
Net income (loss) allocable to Partners	16,890,181			232,036		16,658,145
Restricted units forfeited									(902)
Restricted unit compensation expense	165,509			1,655		163,854
Unrealized gain (loss) on securities	(19,880,002)			(198,800)		(19,681,202)				(19,880,002)
Unrealized loss on bond purchase commitments	(136,370)			(1,364)		(135,006)				(136,370)
Rounding of BUCs upon Reverse Unit Split									1,292
Balance at Jun. 30, 2022	323,880,274			216,604		323,663,670				45,453,151
Partners' Capital Account, Units at Jun. 30, 2022									22,324,402
Distributions paid or accrued:
Distribution of (income) loss (Note 3)		$ (280,799)	$ (8,032,037)		$ (70,200)		$ (210,599)	$ (8,032,037)
Net income (loss) allocable to Partners	17,800,103			142,394		17,657,709
Restricted units awarded									91,813
Restricted unit compensation expense	580,156			5,802		574,354
Unrealized gain (loss) on securities	(22,688,696)			(226,887)		(22,461,809)				(22,688,696)
Unrealized loss on bond purchase commitments	(91,864)			(918)		(90,946)				(91,864)
Balance at Sep. 30, 2022	$ 311,167,137			$ (66,795)		$ 311,100,342				$ 22,672,591
Partners' Capital Account, Units at Sep. 30, 2022									22,416,215

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Partners' Capital (Unaudited) (Parenthetical)	Oct. 31, 2022	Sep. 30, 2022 $ / shares	Sep. 14, 2022 $ / shares	Jun. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Sep. 30, 2021 $ / shares	Jun. 30, 2021 $ / shares	Mar. 31, 2021 $ / shares
Regular distributions paid or accrued		$ 0.366		$ 0.564	$ 0.327	$ 0.327	$ 0.327	$ 0.267
Beneficial Unit Certificates [Member]
Regular distributions paid or accrued			$ 0.20
Beneficial Unit Certificates [Member] | Subsequent Event [Member]
Partnership distribution paid at ratio	0.01044

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 62,387,292	$ 30,245,918
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	2,056,512	2,049,269
Amortization of deferred financing costs	1,926,580	823,212
Gain on sale of investments in unconsolidated entities	(39,664,032)	(15,227,239)
Contingent interest realized on investing activities		(1,848,825)
Provision for credit loss		900,080
Provision for loan loss		330,116
Recovery of prior credit loss	(39,968)
(Gain) loss on derivatives, net of cash paid	(6,511,803)	9,702
Restricted unit compensation expense	919,563	839,551
Bond premium, discount and origination fee amortization	(1,822,874)	(103,292)
Debt premium amortization	(30,444)	(30,419)
Deferred income tax (benefit) & income tax payable/receivable	(83,875)	(154,553)
Change in preferred return receivable from unconsolidated entities, net	(534,375)	4,589,760
Accrued interest added to property loan principal	(635,226)
Changes in operating assets and liabilities
Increase in interest receivable	(90,263)	(1,506,442)
(Increase) decrease in other assets	(399,014)	134,595
Increase in accounts payable and accrued expenses	2,243,446	2,247,730
Net cash provided by operating activities	19,721,519	23,299,163
Cash flows from investing activities:
Capital expenditures	(424,672)	(106,415)
Acquisition of and advances on mortgage revenue bonds	(91,567,687)	(12,946,500)
Acquisition of and advances on taxable mortgage revenue bonds	(10,675,750)	(1,000,000)
Advances on governmental issuer loans	(96,507,805)	(101,122,781)
Advances on taxable governmental issuer loans	(3,000,000)	(1,000,000)
Advances on property loans	(84,680,165)	(19,279,087)
Contributions to unconsolidated entities	(23,124,223)	(20,232,531)
Proceeds from sale of investments in unconsolidated entities	66,645,440	44,988,040
Return of investments in unconsolidated entities	1,367,465
Principal payments received on mortgage revenue bonds and contingent interest	101,258,367	45,908,244
Principal payments received on taxable mortgage revenue bonds	7,848	7,174
Principal payments received on property loans	30,332,123	191,264
Net cash used in investing activities	(110,369,059)	(64,592,592)
Cash flows from financing activities:
Distributions paid	(37,604,215)	(20,110,495)
Repurchase of BUCs		(1,363,736)
Proceeds from the sale of BUCs		33,321,250
Payment of offering costs related to the sale of BUCs		(2,077,755)
Proceeds from debt financing	303,630,000	116,800,000
Principal payments on debt financing	(161,043,610)	(29,749,667)
Principal payments on mortgages payable	(593,946)	(555,680)
Principal borrowing on unsecured lines of credit		15,172,445
Principal payments on unsecured lines of credit		(22,647,446)
Principal borrowing on secured lines of credit	57,742,000	6,500,000
Principal payments on secured lines of credit	(72,514,000)
Increase (decrease) in security deposit liability related to restricted cash	(44,728)	66,694
Proceeds upon exchange of Redeemable Preferred Units	20,000,000
Payment upon exchange of Redeemable Preferred Units	(20,000,000)
Debt financing and other deferred costs paid	(1,802,803)	(2,252,632)
Net cash provided by financing activities	87,768,698	93,102,978
Net increase (decrease) in cash, cash equivalents and restricted cash	(2,878,842)	51,809,549
Cash, cash equivalents and restricted cash at beginning of period	151,932,470	122,990,586
Cash, cash equivalents and restricted cash at end of period	149,053,628	174,800,135
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	21,731,753	14,884,920
Cash paid during the period for income taxes	38,313	181,356
Supplemental disclosure of noncash investing and financing activities:
Distributions declared but not paid for BUCs and General Partner	8,312,836	7,831,176
Distributions declared but not paid for Preferred Units	708,750	708,750
Investment in previously unconsolidated entity consolidated as land		3,115,891
Capital expenditures financed through accounts payable	505,347	1,970
Deferred financing costs financed through accounts payable	$ 34,934	$ (2,540)

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 103,203,582	$ 91,542,566
Restricted cash	45,850,046	83,257,569
Total cash, cash equivalents and restricted cash	$ 149,053,628	$ 174,800,135

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Basis Of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation America First Multifamily Investors, L.P. (the “Partnership”) was formed on April 2, 1998, under the Delaware Revised Uniform Limited Partnership Act primarily for the purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds (“MRBs”) that have been issued to provide construction and/or permanent financing for affordable multifamily and student housing residential properties and commercial properties. The Partnership has also invested in governmental issuer loans (“GILs”), which are similar to MRBs, to provide construction financing for affordable multifamily properties. The Partnership expects and believes the interest earned on these MRBs and GILs is excludable from gross income for federal income tax purposes. The Partnership may also invest in other types of securities, including taxable MRBs and taxable GILs secured by real estate and may make property loans to multifamily residential properties which may or may not be financed by MRBs or GILs held by the Partnership and may or may not be secured by real estate. The Partnership also makes noncontrolling equity investments in unconsolidated entities for the construction, stabilization, and ultimate sale of market-rate multifamily properties. The Partnership is entitled to distributions if, and when, cash is available for distribution either through operations, a refinance or a sale of the property. In addition, the Partnership may acquire and hold interests in multifamily, student and senior citizen residential properties (“MF Properties”) until the “highest and best use” can be determined by management. The Partnership is governed by the First Amended and Restated Agreement of Limited Partnership dated September 15, 2015, as further amended (the “Partnership Agreement”). Mortgage investments, as defined in the Partnership Agreement, consist of MRBs, taxable MRBs, GILs, taxable GILs and property loans. The Partnership Agreement authorizes the Partnership to make investments in tax-exempt securities other than mortgage investments provided that the tax-exempt investments are rated in one of the four highest rating categories by a national securities rating agency. The Partnership Agreement also allows the Partnership to invest in other securities whose interest may be taxable for federal income tax purposes. Total tax-exempt investments and other investments cannot exceed 25 % of the Partnership's total assets at the time of acquisition as required under the Partnership Agreement. Tax-exempt investments and other investments primarily consist of real estate assets and investments in unconsolidated entities. In addition, the amount of other investments is limited based on the conditions to the exemption from registration under the Investment Company Act of 1940. The Partnership’s sole general partner is America First Capital Associates Limited Partnership Two (“AFCA 2” or “General Partner”). The general partner of AFCA 2 is Greystone AF Manager LLC (“Greystone Manager”), an affiliate of Greystone & Co. II LLC (collectively with its affiliates, “Greystone”). The Partnership has issued Beneficial Unit Certificates (“BUCs”) representing assigned limited partnership interests to investors (“BUC holders”). The Partnership has designated three series of non-cumulative, non-voting, non-convertible preferred units (collectively, the “Preferred Units”) that represent limited partnership interests in the Partnership consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The outstanding Series A Preferred Units and Series A-1 Preferred Units are redeemable in the future (Note 19). The Partnership had not yet issued Series B Preferred Units as of September 30, 2022. The holders of the BUCs and Preferred Units are referred to herein collectively as “Unitholders.”

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Summary Of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Consolidation The “Partnership,” as used herein, includes America First Multifamily Investors, L.P., its consolidated subsidiaries and consolidated variable interest entities (Note 5). All intercompany transactions are eliminated. The consolidated subsidiaries of the Partnership for the periods presented consist of: • ATAX TEBS I, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M24 Tax Exempt Bond Securitization (“TEBS”) Financing (“M24 TEBS Financing”) with the Federal Home Loan Mortgage Corporation (“Freddie Mac”); • ATAX TEBS II, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M31 TEBS Financing” with Freddie Mac; • ATAX TEBS III, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M33 TEBS Financing” with Freddie Mac; • ATAX TEBS IV, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M45 TEBS Financing” with Freddie Mac; • ATAX TEBS Holdings, LLC, a wholly owned subsidiary of the Partnership, which has issued secured notes (“the Secured Notes”) to Mizuho Capital Markets LLC (“Mizuho”); • ATAX Vantage Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to loan money or provide equity for the development of market-rate multifamily properties; • One wholly owned corporation (the "Greens Hold Co”), which owns 100 % of The 50/50 MF Property, a real estate asset, and certain property loans; and • Lindo Paseo LLC, a wholly owned limited liability company, which owns 100 % of the Suites on Paseo MF Property. The Partnership also consolidates variable interest entities (“VIEs”) in which the Partnership is deemed to be the primary beneficiary. Impairment of Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds The Partnership accounts for its investments in MRBs and taxable MRBs under the accounting guidance for certain investments in debt and equity securities. The Partnership's investments in these instruments are classified as available-for-sale debt securities and are reported at their estimated fair value. The net unrealized gains or losses on these investments are reflected on the Partnership's condensed consolidated statements of comprehensive income. Unrealized gains and losses do not affect the cash flow of the bonds, distributions to Unitholders, or the characterization of the interest income of the financial obligation of the underlying collateral. See Note 22 for a description of the Partnership's methodology for estimating the fair value of MRBs and taxable MRBs. The Partnership periodically reviews its MRBs and taxable MRBs for impairment. The Partnership evaluates whether unrealized losses are considered other-than-temporary impairments based on various factors including, but not necessarily limited to, the following: • The duration and severity of the decline in fair value; • The Partnership’s intent to hold and the likelihood of it being required to sell the security before its value recovers; • Adverse conditions specifically related to the security, its collateral, or both; • Volatility of the fair value of the security; • The likelihood of the borrower being able to make scheduled interest and principal payments; • Failure of the issuer to make scheduled interest or principal payments; and • Recoveries or additional declines in fair value after the balance sheet date. While the Partnership evaluates all available information, it focuses specifically on whether the security’s estimated fair value is below amortized cost. If a MRB’s estimated fair value is below amortized cost, and the Partnership has the intent to sell or may be required to sell the MRB prior to the time that its value recovers or until maturity, the Partnership will record an other-than-temporary impairment through earnings equal to the difference between the MRB’s carrying value and its fair value. If the Partnership does not expect to sell an other-than-temporarily impaired MRB, only the portion of the other-than-temporary impairment related to credit losses is recognized through earnings as a provision for credit loss, with the remainder recognized as a component of other comprehensive income. In determining the provision for credit loss, the Partnership compares the present value of cash flows expected to be collected to the MRB’s amortized cost basis. The recognition of other-than-temporary impairment, provision for credit loss, and the potential impairment analysis are subject to a considerable degree of judgment, the results of which, when applied under different conditions or assumptions, could have a material impact to the condensed consolidated financial statements. If the Partnership experiences deterioration in the values of its MRB portfolio, the Partnership may incur other-than-temporary impairments or provision for credit losses that could negatively impact the Partnership’s financial condition, cash flows, and reported earnings. Estimates and assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Partnership to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such SEC rules and regulations, although the Partnership believes that the disclosures are adequate to make the information presented not misleading. The Partnership’s condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2021. These condensed consolidated financial statements and notes have been prepared consistently with the 2021 Form 10-K. In the opinion of management, all adjustments (consisting of normal and recurring accruals) necessary to present fairly the Partnership’s financial position as of September 30, 2022, and the results of operations for the interim periods presented, have been made. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying condensed consolidated balance sheet as of December 31, 2021 was derived from the audited annual consolidated financial statements but does not contain all the footnote disclosures from the annual consolidated financial statements. Risks and Uncertainties Through November 2, 2022, the Federal Reserve announced six increases in short-term interest rates totaling 375 basis points . The Federal Reserve has signaled further future short-term interest rate increases to combat inflation in the broader economy. In addition, geopolitical conflicts continue to impact the general global economic environment. These factors have caused volatility in the fixed income markets, which has impacted the value of some of the Partnership’s investment assets, particularly fixed-rate MRBs and taxable MRBs. In addition, increases in short-term interest rates will generally result in increases in the interest cost associated with the Partnership’s variable rate debt financing arrangements and for construction debt of properties underlying our investments in unconsolidated entities. The extent to which general economic, geopolitical, and financial conditions will impact the Partnership’s financial condition or results of operations in the future is uncertain and actual results and outcomes could differ from current estimates. The current inflationary environment in the United States may increase operating expenses at properties securing the Partnership’s investments and general operations. Regarding investments, such increases may reduce net operating results of the related properties and result in lower debt service coverage or higher than anticipated capitalized interest requirements for properties under construction. Such occurrences may negatively impact the value of the Partnership’s investments. Higher general and administrative expenses and real estate operating expenses may adversely affect the Partnership’s operating results, including a reduction in net income. Beneficial Unit Certificates (“BUCs”) The Partnership has issued BUCs representing assigned limited partnership interests to investors. Costs related to the issuance of BUCs are recorded as a reduction to partners’ capital when issued. On April 1, 2022, the Partnership effected a one-for-three reverse unit split (“Reverse Unit Split”) of its outstanding BUCs. As a result of the Reverse Unit Split, holders of BUCs received one BUC for every three BUCs owned at the close of business on April 1, 2022. All fractional BUCs created by the Reverse Unit Split were rounded to the nearest whole BUC, with any fraction equal to or above 0.5 BUC rounded up to the next higher BUC, as provided by the Partnership Agreement. Immediately prior to the Reverse Unit Split, there were 66,049,908 BUCs issued and outstanding, and immediately after the Reverse Unit Split the number of issued and outstanding BUCs decreased to 22,017,915 . In connection with the Reverse Unit Split, the CUSIP number for the BUCs changed to 02364V 206. The BUCs continue to trade on the Nasdaq Global Select Market under the trading symbol “ATAX.” On September 14, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $ 0.20 per BUC (the “BUCs Distribution”). The BUCs Distribution was paid at a ratio of 0.01044 BUCs for each issued and outstanding BUC as of the record date of September 30, 2022 , which represents an amount per BUC based on the closing price of the BUCs on the Nasdaq Stock Market LLC on September 13, 2022. The BUCs Distribution was completed on October 31, 2022 . There were no fractional BUCs issued in connection with the BUCs Distribution. All fractional BUCs resulting from the BUCs Distribution received cash for such fraction based on the market value of the BUCs on the record date. The one-for- three Reverse Unit Split and the BUCs Distribution have been applied retroactively to all net income per BUC, distributions per BUC and similar per BUC disclosures for all periods indicated in the Partnership’s condensed consolidated financial statements. Restricted Unit Awards (“RUA” or “RUAs”) The Partnership’s 2015 Equity Incentive Plan (the “Plan”), as approved by the BUC holders in September 2015, permits the grant of RUAs and other awards to the employees of Greystone Manager, or any affiliate, who performs services for Greystone Manager, the Partnership or an affiliate, and members of Greystone Manager’s Board of Managers. The Plan permits total grants of RUAs of up to 1.0 million BUCs, which reflects adjustments made to the number of BUCs that may be granted under the Plan as a result of the Reverse Unit Split. RUAs have historically been granted with vesting conditions ranging from three months to up to three years. RUAs typically provide for the payment of distributions during the restriction period. The RUAs provide for accelerated vesting if there is a change in control, or upon death or disability of the participant. The Partnership accounts for forfeitures as they occur. Outstanding RUAs were adjusted on a one-for-three basis in conjunction with the Reverse Unit Split effected on April 1, 2022. The number of outstanding RUAs was not impacted by the BUCs Distribution as holders of RUAs did not participate in the BUCs Distribution, but rather received cash in satisfaction of the previously announced supplemental distribution in the amount of $ 0.20 per RUA. The fair value of each RUA is estimated on the grant date based on the Partnership’s exchange-listed closing price of the BUCs. The Partnership recognizes compensation expense for the RUAs on a straight-line basis over the requisite vesting period. The Partnership accounts for modifications to RUAs as they occur, if the fair value of the RUAs change, there are changes to vesting conditions or the awards no longer qualify for equity classification. Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments – Credit Losses (Topic 326).” ASU 2016-13 enhances the methodology of measuring expected credit losses for financial assets to include the use of reasonable and supportable forward-looking information to better estimate credit losses. In general, the allowance for credit losses is expected to increase when changing from an incurred loss to expected loss methodology. ASU 2016-13 also includes changes to the impairment model for available-for-sale debt securities such as the Partnership’s MRBs and taxable MRBs. ASU 2016-13 is effective for the Partnership on January 1, 2023 and is to be adopted through a cumulative-effect adjustment to retained earnings as of that date. The Partnership regularly assesses its assets that are within the scope of ASU 2016-13 and has determined that the GILs, taxable GIL, property loans, receivables reported within other assets, financial guaranties, financial commitments, and interest receivable related to such assets, are within the scope of ASU 2016-13. The Partnership anticipates utilizing a loss rate model based on the weighted average remaining maturity of items within the scope of ASU 2016-13. The Partnership continues to develop and refine data collection processes, assessment procedures and internal controls that will be required when ASU 2016-13 becomes effective, and to evaluate the impact to the Partnership's condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform—Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides optional guidance for a limited period meant to ease the potential burden in accounting for, or recognizing the effects of, reform to LIBOR and certain other reference rates. The standard is effective for all entities from March 12, 2020 through December 31, 2022. ASU 2020-04 is only applicable to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform, and that were entered into or evaluated prior to January 1, 2023. The Partnership has evaluated its population of instruments indexed, either directly or indirectly, to LIBOR an d does not currently expect the adoption of ASU 2020-04 to have a material impact on the Partnership's condensed consolidated financial statements.

Partnership Income, Expenses an

Partnership Income, Expenses and Cash Distributions	9 Months Ended
	Sep. 30, 2022
Partnership Income Expenses And Cash Distributions [Abstract]
Partnership Income, Expenses and Cash Distributions	3. Partnership Income, Expenses and Cash Distributions The Partnership Agreement contains provisions for the distribution of Net Interest Income, Net Residual Proceeds and Liquidation Proceeds, for the allocation of income or loss from operations, and for the allocation of income and loss arising from a repayment, sale, or liquidation of investments. Income and losses will be allocated to each Unitholder on a periodic basis, as determined by the General Partner, based on the number of Preferred Units and BUCs held by each Unitholder as of the last day of the period for which such allocation is to be made. Distributions of Net Interest Income and Net Residual Proceeds will be made to each Unitholder of record on the last day of each distribution period based on the number of Preferred Units and BUCs held by each Unitholder on that date. Cash distributions are currently made on a quarterly basis. For purposes of the Partnership Agreement, income and cash received by the Partnership from its investments in MF Properties, investments in unconsolidated entities, and property loans will be included in the Partnership’s Net Interest Income, and cash distributions received by the Partnership from the sale or redemption of such investments will be included in the Partnership’s Net Residual Proceeds. The holders of the Preferred Units are entitled to distributions at a fixed rate per annum prior to payment of distributions to other Unitholders. Net Interest Income (Tier 1) is allocated 99 % to the limited partners and BUC holders as a class and 1 % to the General Partner. Net Interest Income (Tier 2) and Net Residual Proceeds (Tier 2) are allocated 75 % to the limited partners and BUC holders as a class and 25 % to the General Partner. Net Interest Income (Tier 2) and Net Residual Proceeds (Tier 2) in excess of the maximum allowable amount as set forth in the Partnership Agreement are considered Net Interest Income (Tier 3) and Net Residual Proceeds (Tier 3) and are allocated 100 % to the limited partners and BUC holders as a class.

Net Income per BUC

Net Income per BUC	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income per BUC	4. Net income per BUC The Partnership has disclosed basic and diluted net income per BUC in the Partnership's condensed consolidated statements of operations. The unvested RUAs issued under the Plan are considered participating securities and are potentially dilutive. There were no dilutive BUCs for the three and nine months ended September 30, 2022 and 2021.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2022
Variable Interest Entities [Abstract]
Variable Interest Entities	5. Variable Interest Entities Consolidated Variable Interest Entities (“VIEs”) The Partnership has determined the Tender Option Bond (“TOB”), Term TOB and TEBS financings are VIEs where the Partnership is the primary beneficiary. In determining the primary beneficiary of each VIE, the Partnership considered which party has the power to control the activities of the VIE which most significantly impact its financial performance, the risks that the entity was designed to create, and how each risk affects the VIE. The agreements related to the TOB, Term TOB and TEBS financings stipulate the Partnership has the sole right to cause the trusts to sell the underlying assets. If the underlying assets were sold, the extent to which the VIEs will be exposed to gains or losses would result from decisions made by the Partnership. As the primary beneficiary, the Partnership reports the TOB, Term TOB and TEBS financings on a consolidated basis. The Partnership reports the Floater Certificates related to the TOB trust financings, and the Class A Certificates related to the Term TOB and TEBS financings as secured debt financings on the Partnership's condensed consolidated balance sheets (Note 15). The MRBs, GILs, property loans, taxable MRBs and taxable GIL securing the TOB, Term TOB and TEBS financings, are reported as assets on the Partnership's condensed consolidated balance sheets (Notes 6, 7, 10 and 12). The Partnership has determined its investment in Vantage at San Marcos is a VIE where the Partnership is the primary beneficiary. The Partnership may currently require the managing member of the VIE to purchase the Partnership’s equity investment in the VIE at a price equal to the Partnership’s carrying value. If the Partnership were to redeem its investment, the underlying assets of the property would likely need to be sold. If the underlying assets were sold, the extent to which the VIE will be exposed to gains or losses would result from decisions made by the Partnership. The Partnership’s option to redeem its investment in Vantage at San Marcos was effective beginning in the fourth quarter of 2021. As the primary beneficiary, the Partnership reports the assets and liabilities of Vantage at San Marcos on a consolidated basis, which consist of a real estate asset investment (Note 8), mortgage payable (Note 16), and current liabilities associated with the construction costs of a market-rate multifamily property (Note 13). If certain events occur in the future, the Partnership’s option to redeem the investment will terminate and the VIE may be deconsolidated. During 2021, the Partnership consolidated Vantage at Hutto and Vantage at Fair Oaks because it could require the managing member of the VIEs to purchase the Partnership's equity investments in the VIEs at a price equal to the Partnership's carrying value. The Partnership's right to require the managing members of the VIEs to purchase the Partnership's equity investments at a price equal to the Partnership's carrying values was terminated during 2021 upon construction commencement. As such, the Partnership was no longer the primary beneficiary of the VIEs and the VIEs were not reported on a consolidated basis and were instead reported as investments in unconsolidated entities as of December 31, 2021. Non-Consolidated VIEs The Partnership has variable interests in various entities in the form of MRBs, taxable MRBs, GILs, taxable GILs, property loans and investments in unconsolidated entities. These variable interests do not allow the Partnership to direct the activities that most significantly impact the economic performance of such VIEs. As a result, the Partnership is not considered the primary beneficiary and does not consolidate the financial statements of these VIEs in the Partnership's condensed consolidated financial statements. The Partnership held variable interests in 31 and 30 non-consolidated VIEs as of September 30, 2022 and December 31, 2021, respectively. The following table summarizes the Partnership’s maximum exposure to loss associated with its variable interests as of September 30, 2022 and December 31, 2021: Maximum Exposure to Loss September 30, 2022 December 31, 2021 Mortgage revenue bonds $ 48,557,708 $ 51,045,000 Taxable mortgage revenue bonds 2,000,000 2,000,000 Governmental issuer loans 281,275,255 184,767,450 Taxable governmental issuer loans 4,000,000 1,000,000 Property loans 122,563,896 47,274,576 Investments in unconsolidated entities 103,103,246 107,793,522 $ 561,500,105 $ 393,880,548 The Partnership’s maximum exposure to loss for the MRBs and taxable MRBs as of September 30, 2022 is equal to the Partnership’s cost adjusted for paydowns. The difference between an MRB’s carrying value in the Partnership's condensed consolidated balance sheets and the maximum exposure to loss is a function of the unrealized gains or losses. The Partnership has future MRB and taxable MRB funding commitments related to non-consolidated VIEs totaling $ 47.0 million and $ 23.5 million , respectively, as of September 30, 2022 (Note 18). The Partnership’s maximum exposure to loss for the GILs, taxable GILs, property loans and investments in unconsolidated entities as of September 30, 2022 is equal to the Partnership’s carrying value. The Partnership has future GIL, taxable GIL, property loan and investment in unconsolidated entities funding commitments related to non-consolidated VIEs totaling $ 122.8 million , $ 63.2 million , $ 64.1 million , and $ 8.9 million , respectively, as of September 30, 2022 (Note 18).

Mortgage Revenue Bonds

Mortgage Revenue Bonds	9 Months Ended
	Sep. 30, 2022
Investments In Mortgage Revenue Bonds [Abstract]
Mortgage Revenue Bonds	6. Mortgage Revenue Bonds The Partnership’s MRBs provide construction and/or permanent financing for income-producing multifamily rental properties and a commercial property. MRBs are either held directly by the Partnership or are held in trusts created in connection with debt financing transactions (Note 15). The MRBs bear interest at a fixed rate, with the exception of Ocotillo Springs - Series A and Residency at the Mayer - Series A. The Partnership had the following investments in MRBs as of September 30, 2022 and December 31, 2021: September 30, 2022 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,898,954 $ 389,990 $ - $ 10,288,944 Glenview Apartments - Series A (3) CA 4,386,923 221,254 - 4,608,177 Harmony Court Bakersfield - Series A (4) CA 3,609,296 118,091 - 3,727,387 Harmony Terrace - Series A (4) CA 6,682,143 329,629 - 7,011,772 Harden Ranch - Series A (2) CA 6,472,099 452,521 - 6,924,620 Las Palmas II - Series A (4) CA 1,637,465 70,328 - 1,707,793 Lutheran Gardens (6) CA 10,352,000 63,494 - 10,415,494 Montclair Apartments - Series A (3) CA 2,376,641 130,702 - 2,507,343 Montecito at Williams Ranch Apartments - Series A (6) CA 7,522,733 627,722 - 8,150,455 Montevista - Series A (6) CA 6,667,855 565,132 - 7,232,987 Ocotillo Springs - Series A (6), (8) CA 11,090,000 - ( 487,801 ) 10,602,199 Residency at the Entrepreneur J-1 (6) CA 9,088,500 172,857 - 9,261,357 Residency at the Entrepreneur J-2 (6) CA 7,500,000 217,798 - 7,717,798 Residency at the Entrepreneur J-3 (7) CA - 656,481 - 656,481 Residency at the Mayer - Series A (6) CA 25,069,208 - - 25,069,208 San Vicente - Series A (4) CA 3,376,366 111,397 - 3,487,763 Santa Fe Apartments - Series A (3) CA 2,879,212 145,213 - 3,024,425 Seasons at Simi Valley - Series A (4) CA 4,150,500 384,743 - 4,535,243 Seasons Lakewood - Series A (4) CA 7,117,935 351,126 - 7,469,061 Seasons San Juan Capistrano - Series A (4) CA 11,984,278 591,182 - 12,575,460 Summerhill - Series A (4) CA 6,215,150 80,688 - 6,295,838 Sycamore Walk - Series A (4) CA 3,440,619 130,469 - 3,571,088 The Village at Madera - Series A (4) CA 2,985,168 137,695 - 3,122,863 Tyler Park Townhomes - Series A (2) CA 5,635,996 231,647 - 5,867,643 Vineyard Gardens - Series A (6) CA 3,916,109 312,891 - 4,229,000 Westside Village Market - Series A (2) CA 3,683,114 193,646 - 3,876,760 Brookstone (1) IL 7,298,854 1,232,165 - 8,531,019 Copper Gate Apartments (2) IN 4,900,000 135,868 - 5,035,868 Renaissance - Series A (3) LA 10,622,933 447,502 - 11,070,435 Live 929 Apartments - Series 2022A (6) MD 58,050,821 798,344 - 58,849,165 Jackson Manor Apartments (6) MS 6,900,000 - - 6,900,000 Greens Property - Series A (2) NC 7,629,000 536 - 7,629,536 Silver Moon - Series A (3) NM 7,575,818 609,702 - 8,185,520 Village at Avalon (5) NM 15,974,957 863,641 - 16,838,598 Columbia Gardens (4) SC 12,588,742 428,517 - 13,017,259 Companion at Thornhill Apartments (4) SC 10,821,542 448,643 - 11,270,185 The Palms at Premier Park Apartments (2) SC 18,200,634 643,425 - 18,844,059 Village at River's Edge (4) SC 9,669,777 44,189 - 9,713,966 Willow Run (4) SC 12,414,487 477,489 - 12,891,976 Arbors at Hickory Ridge (2) TN 10,633,673 1,699,911 - 12,333,584 Avistar at Copperfield - Series A (6) TX 13,569,835 481,953 - 14,051,788 Avistar at the Crest - Series A (2) TX 8,928,536 591,677 - 9,520,213 Avistar at the Oaks - Series A (2) TX 7,221,895 432,723 - 7,654,618 Avistar at the Parkway - Series A (3) TX 12,468,173 682,039 - 13,150,212 Avistar at Wilcrest - Series A (6) TX 5,142,693 4,874 - 5,147,567 Avistar at Wood Hollow - Series A (6) TX 39,048,349 1,386,861 - 40,435,210 Avistar in 09 - Series A (2) TX 6,235,826 295,681 - 6,531,507 Avistar on the Boulevard - Series A (2) TX 15,210,725 824,271 - 16,034,996 Avistar on the Hills - Series A (2) TX 4,944,271 327,489 - 5,271,760 Bruton Apartments (4), (8) TX 17,419,883 - ( 533,140 ) 16,886,743 Concord at Gulfgate - Series A (4) TX 18,456,524 1,239,586 - 19,696,110 Concord at Little York - Series A (4) TX 12,929,668 909,327 - 13,838,995 Concord at Williamcrest - Series A (4) TX 20,029,441 1,156,304 - 21,185,745 Crossing at 1415 - Series A (4) TX 7,191,959 353,742 - 7,545,701 Decatur Angle (4), (8) TX 21,919,796 - ( 834,292 ) 21,085,504 Esperanza at Palo Alto (4) TX 18,955,815 1,118,258 - 20,074,073 Heights at 515 - Series A (4) TX 6,584,362 343,057 - 6,927,419 Heritage Square - Series A (3) TX 10,358,615 432,270 - 10,790,885 Oaks at Georgetown - Series A (4) TX 11,940,699 311,811 - 12,252,510 Runnymede (1) TX 9,605,000 439 - 9,605,439 Southpark (1) TX 11,419,072 1,297,785 - 12,716,857 15 West Apartments (4) WA 9,474,154 979,184 - 10,453,338 Mortgage revenue bonds held in trust $ 650,074,793 $ 27,685,959 $ ( 1,855,233 ) $ 675,905,519 (1) MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 (2) MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 (3) MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 (4) MRBs owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 (5) MRB held by Morgan Stanley in a debt financing transaction, Note 15 (6) MRBs held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 (7) The Partnership has an MRB funding commitment of $ 26.1 million as of September 30, 2022. The unfunded MRB commitment is accounted for as an available-for-sale security and reported at fair value. The reported unrealized loss is based on the fair value of the funding commitment outstanding as of September 30, 2022. The Partnership will partially fund the commitment with proceeds from a debt financing transaction with Mizuho Capital Markets, LLC. (8) As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. September 30, 2022 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value CCBA Senior Garden Apartments (1) CA $ 3,801,312 $ - $ ( 209,129 ) $ 3,592,183 Solano Vista - Series A CA 2,635,798 152,712 - 2,788,510 Meadow Valley (2) MI 1,833,437 - ( 2,632,998 ) ( 799,561 ) Gateway Village NC 2,590,992 - - 2,590,992 Greens Property - Series B NC 916,502 114 - 916,616 Lynnhaven Apartments NC 3,438,048 - - 3,438,048 Provision Center 2014-1 TN 4,296,204 - - 4,296,204 Avistar at the Crest - Series B TX 726,263 28,394 - 754,657 Avistar at the Oaks - Series B TX 531,895 14,208 - 546,103 Avistar at the Parkway - Series B TX 123,287 20,319 - 143,606 Avistar in 09 - Series B TX 438,765 11,720 - 450,485 Avistar on the Boulevard - Series B TX 431,548 14,520 - 446,068 Mortgage revenue bonds held by the Partnership $ 21,764,051 $ 241,987 $ ( 2,842,127 ) $ 19,163,911 (1) As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. (2) The Partnership has a remaining MRB funding commitment of $ 42.3 million as of September 30, 2022. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining $ 42.3 million funding commitment outstanding as of September 30, 2022 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not other-than-temporary. December 31, 2021 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,970,209 $ 2,060,480 $ - $ 12,030,689 Glenview Apartments - Series A (3) CA 4,429,350 863,955 - 5,293,305 Harmony Court Bakersfield - Series A (4) CA 3,635,277 720,308 - 4,355,585 Harmony Terrace - Series A (4) CA 6,730,004 1,425,757 - 8,155,761 Harden Ranch - Series A (2) CA 6,538,111 1,285,747 - 7,823,858 Las Palmas II - Series A (4) CA 1,649,370 332,704 - 1,982,074 Montclair Apartments - Series A (3) CA 2,399,626 446,912 - 2,846,538 Montecito at Williams Ranch Apartments - Series A (6) CA 7,568,334 1,983,454 - 9,551,788 Montevista - Series A (6) CA 6,701,776 2,114,978 - 8,816,754 Ocotillo Springs - Series A (6) CA 15,000,000 271,172 - 15,271,172 Residency at the Mayer - Series A (6) CA 24,000,000 - - 24,000,000 San Vicente - Series A (4) CA 3,400,913 671,681 - 4,072,594 Santa Fe Apartments - Series A (3) CA 2,907,057 567,028 - 3,474,085 Seasons at Simi Valley - Series A (4) CA 4,188,582 1,011,623 - 5,200,205 Seasons Lakewood - Series A (4) CA 7,168,917 1,518,742 - 8,687,659 Seasons San Juan Capistrano - Series A (4) CA 12,070,116 2,557,065 - 14,627,181 Summerhill - Series A (4) CA 6,259,888 1,187,464 - 7,447,352 Sycamore Walk - Series A (4) CA 3,474,617 696,090 - 4,170,707 The Village at Madera - Series A (4) CA 3,006,656 621,367 - 3,628,023 Tyler Park Townhomes - Series A (2) CA 5,694,168 691,137 - 6,385,305 Vineyard Gardens - Series A (6) CA 3,939,476 987,782 - 4,927,258 Westside Village Market - Series A (2) CA 3,721,129 701,915 - 4,423,044 Brookstone (1) IL 7,334,161 1,903,086 - 9,237,247 Copper Gate Apartments (2) IN 4,900,000 433,436 - 5,333,436 Renaissance - Series A (3) LA 10,732,295 4,172,381 - 14,904,676 Live 929 Apartments - 2014 Series A (6) MD 36,169,147 573,155 - 36,742,302 Jackson Manor Apartments (6) MS 4,900,000 - - 4,900,000 Gateway Village (6) NC 2,600,000 90,861 - 2,690,861 Greens Property - Series A (2) NC 7,719,000 281,953 - 8,000,953 Lynnhaven Apartments (6) NC 3,450,000 115,328 - 3,565,328 Silver Moon - Series A (3) NM 7,629,704 1,868,323 - 9,498,027 Village at Avalon (5) NM 16,069,382 4,124,498 - 20,193,880 Ohio Properties - Series A (1) OH 13,580,000 - - 13,580,000 Bridle Ridge (1) SC 7,145,000 - - 7,145,000 Columbia Gardens (4) SC 12,725,440 2,003,599 - 14,729,039 Companion at Thornhill Apartments (4) SC 10,924,609 1,793,226 - 12,717,835 Cross Creek (1) SC 6,120,285 1,845,064 - 7,965,349 The Palms at Premier Park Apartments (2) SC 18,385,572 2,181,632 - 20,567,204 Village at River's Edge (4) SC 9,728,355 2,370,569 - 12,098,924 Willow Run (4) SC 12,549,146 1,974,479 - 14,523,625 Arbors at Hickory Ridge (2) TN 10,755,889 3,598,292 - 14,354,181 Avistar at Copperfield - Series A (6) TX 13,678,286 2,549,711 - 16,227,997 Avistar at the Crest - Series A (2) TX 9,022,172 1,926,825 - 10,948,997 Avistar at the Oaks - Series A (2) TX 7,295,334 1,578,333 - 8,873,667 Avistar at the Parkway - Series A (3) TX 12,579,783 2,353,247 - 14,933,030 Avistar at Wilcrest - Series A (6) TX 5,183,794 772,242 - 5,956,036 Avistar at Wood Hollow - Series A (6) TX 39,360,426 7,200,790 - 46,561,216 Avistar in 09 - Series A (2) TX 6,299,237 1,288,060 - 7,587,297 Avistar on the Boulevard - Series A (2) TX 15,370,243 3,165,575 - 18,535,818 Avistar on the Hills - Series A (2) TX 4,994,549 1,100,478 - 6,095,027 Bruton Apartments (4) TX 17,532,185 4,452,765 - 21,984,950 Concord at Gulfgate - Series A (4) TX 18,606,719 4,211,979 - 22,818,698 Concord at Little York - Series A (4) TX 13,034,887 3,055,517 - 16,090,404 Concord at Williamcrest - Series A (4) TX 20,192,436 4,651,973 - 24,844,409 Crossing at 1415 - Series A (4) TX 7,253,698 1,549,224 - 8,802,922 Decatur Angle (4) TX 22,074,594 4,731,759 - 26,806,353 Esperanza at Palo Alto (4) TX 19,071,622 5,317,911 - 24,389,533 Heights at 515 - Series A (4) TX 6,640,885 1,418,341 - 8,059,226 Heritage Square - Series A (3) TX 10,455,924 1,823,426 - 12,279,350 Oaks at Georgetown - Series A (4) TX 12,026,225 2,181,690 - 14,207,915 Runnymede (1) TX 9,675,000 99,489 - 9,774,489 Southpark (1) TX 11,365,100 1,542,509 - 12,907,609 15 West Apartments (4) WA 9,531,842 2,799,259 - 12,331,101 Mortgage revenue bonds held in trust $ 639,116,502 $ 111,818,346 $ - $ 750,934,848 (1) MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 (2) MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 (3) MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 (4) MRBs owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 (5) MRB held by Morgan Stanley in a debt financing transaction Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 December 31, 2021 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Lutheran Gardens CA $ 10,352,000 $ - $ - $ 10,352,000 Solano Vista - Series A CA 2,649,291 744,617 - 3,393,908 Live 929 Apartments - 2014 Series B MD 17,344,000 - - 17,344,000 Meadow Valley MI 100,000 - - 100,000 Greens Property - Series B NC 920,637 46,672 - 967,309 Ohio Properties - Series B OH 3,465,270 - - 3,465,270 Provision Center 2014-1 TN 4,300,000 - - 4,300,000 Avistar at the Crest - Series B TX 730,612 122,646 - 853,258 Avistar at the Oaks - Series B TX 534,953 86,437 - 621,390 Avistar at the Parkway - Series B TX 123,598 37,590 - 161,188 Avistar in 09 - Series B TX 441,288 71,303 - 512,591 Avistar on the Boulevard - Series B TX 434,132 69,950 - 504,082 Mortgage revenue bonds held by the Partnership $ 41,395,781 $ 1,179,215 $ - $ 42,574,996 The Partnership has committed to provide funding for certain MRBs on a draw-down basis during construction and/or rehabilitation of the secured properties as of September 30, 2022. See Note 18 for additional information regarding the Partnership’s MRB funding commitments. See Note 22 for a description of the methodology and significant assumptions used in determining the fair value of the MRBs. Unrealized gains or losses on the MRBs are recorded in the Partnership's condensed consolidated statements of comprehensive income to reflect changes in their estimated fair values resulting from market conditions and fluctuations in the present value of the expected cash flows from the MRBs. During the nine months ended September 30, 2021, the Partnership recognized a provision for credit loss of approximately $ 900,000 related to the Provision Center 2014-1 MRB in its condensed consolidated statements of operations. The borrower of the Provision Center 2014-1 MRB filed for Chapter 11 bankruptcy in December 2020 and has ceased making contractual principal and interest payments. The credit loss was driven primarily by collateral information obtained during the bankruptcy process. The underlying property was successfully sold out of bankruptcy in July 2022 and final settlement of the bankruptcy estate is ongoing. The net carrying value of the MRB, inclusive of accrued interest, is $ 4.6 million as of September 30, 2022, which is our estimate of the proceeds we will ultimately receive upon liquidation of the bankruptcy and bond trust estate. MRB Activity in the First Nine Months of 2022 Acquisitions: The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the nine months ended September 30, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Principal Acquired Residency at the Entrepreneur - Series J-1 April Los Angeles, CA 200 3/31/2040 6.00 % $ 9,000,000 Residency at the Entrepreneur - Series J-2 April Los Angeles, CA 200 3/31/2040 6.00 % 7,500,000 Residency at the Entrepreneur - Series J-3 April Los Angeles, CA 200 3/31/2040 6.00 % (1) Residency at the Entrepreneur - Series J-4 April Los Angeles, CA 200 3/31/2040 SOFR + 3.60 % (2) (1) CCBA Senior Garden Apartments (3) June San Diego, CA 45 7/1/2037 4.50 % 3,807,000 $ 20,307,000 (1) The Partnership has committed to provide funding for the Series J-3 and Series J-4 MRBs of $ 26.1 million and $ 16.4 million, respectively. See Note 18. (2) The interest rate is subject to an all-in floor of 3.87 %. Upon stabilization, the Series J-4 MRB will become subordinate to the Series J-1, J-2 and J-3 MRBs and will convert to a fixed rate of 8.0 %. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 1.5 million. (3) The investment was previously reported as a bond purchase commitment that has converted to an MRB. Restructurings: In January 2022, the Live 929 Apartments property completed a restructuring of the Partnership’s MRBs and property loan. The Partnership’s Live 929 Apartments – 2014 Series A and Live 929 Apartments – 2014 Series B MRBs were redeemed at par plus accrued interest. The following tables summarizes the terms of the MRBs upon redemption: Property Name Month Property Location Units Original Interest Rate Principal Live 929 Apartments - 2014 Series A January Baltimore, MD 575 7/1/2049 5.78 % $ 39,445,000 Live 929 Apartments - 2014 Series B January Baltimore, MD 575 7/1/2039 1.60 % 21,610,000 $ 61,055,000 Upon restructuring, the Partnership used the proceeds of the redeemed MRBs plus additional cash to acquire a new series of MRB secured by the Live 929 Apartments property, the Series 2022A MRB. The following tables summarizes the MRB that was acquired as part of the restructuring of the Live 929 Apartments MRBs: Property Name Month Property Location Units Maturity Date Interest Rate Principal Acquired Live 929 Apartments - Series 2022A January Baltimore, MD 575 1/1/2060 4.30 % $ 66,365,000 In addition, a portion of the Live 929 Apartments property loan was redeemed as part of the restructuring, with proceeds used to acquire the new Live 929 Apartments Series 2022A MRB. The Partnership also acquired a taxable MRB which is reported in Other Assets (Note 12). The redemption of the prior Live 929 Apartments – 2014 Series A and 2014 Series B MRBs and property loan and acquisition of the new Live 929 Apartments Series 2022A MRB were accounted for as a troubled debt restructuring. Redemptions: The following MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest during the nine months ended September 30, 2022: Property Name Month Property Location Units Original Interest Rate Principal Ohio Properties - Series A March (1) 362 6/1/2050 7.00 % $ 13,544,000 Ohio Properties - Series B March (1) 362 6/1/2050 10.00 % 3,459,840 Bridle Ridge May Greer, SC 152 1/1/2043 6.00 % 7,100,000 Cross Creek September Beaufort, SC 144 3/1/2049 6.15 % 7,666,752 $ 31,770,592 (1) The Ohio Properties consist of Crescent Village, located in Cincinnati, Ohio, Willow Bend, located in Columbus (Hilliard), Ohio and Postwoods, located in Reynoldsburg, Ohio. MRB Activity in the First Nine Months of 2021 Acquisitions: The following MRB was acquired at a price that approximated the principal outstanding plus accrued interest during the nine months ended September 30, 2021: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Acquired Jackson Manor Apartments (1) April Jackson, MS 60 5/1/2038 5.00 % $ 4,150,000 (1) The Partnership has committed to provide total funding of the MRB up to $ 6.9 million during the acquisition and rehabilitation phase of the property on a drawdown basis. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 4.8 million . Redemptions: The following MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest during the nine months ended September 30, 2021: Property Name Month Property Location Units Original Interest Rate Principal Arby Road Apartments - Series A (1) March Las Vegas, NV 180 10/1/2027 5.35 % $ 1,600,000 Arby Road Apartments - Series A (1) March Las Vegas, NV 180 4/1/2041 5.50 % 5,785,000 Rosewood Townhomes - Series A July Goose Creek, SC 100 7/1/2055 5.75 % 9,259,206 Rosewood Townhomes - Series B July Goose Creek, SC 100 8/1/2055 12.00 % 469,781 South Pointe Apartments - Series A July Hanahan, SC 256 7/1/2055 5.75 % 21,551,600 South Pointe Apartments - Series B July Hanahan, SC 256 8/1/2055 12.00 % 1,099,487 $ 39,765,074 (1) Both MRBs are part of the same series but had different interest rates and maturity dates. The Rosewood Townhomes - Series A and South Pointe Apartments - Series A MRBs were redeemed at 106 % of par value plus accrued interest in July 2021. The redemption premium of approximately $ 1.8 million is reported as “Contingent interest income” in the condensed consolidated statement of operations. All other MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest. The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Balance, beginning of period $ 10,013,392 $ 8,218,669 $ 9,175,482 $ 7,318,589 Provision for credit loss - - - 900,080 Other additions (1) - - 860,533 - Recovery of prior credit loss (2) ( 17,345 ) - ( 39,968 ) - Balance, end of period (3) $ 9,996,047 $ 8,218,669 $ 9,996,047 $ 8,218,669 (1) The other addition is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan. (2) The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. The Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. (3) The allowance for credit losses as of September 30, 2022 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments - Series 2022A MRB. The allowance for credit losses as of September 30, 2021 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments – 2014 Series A MRB.

Governmental Issuer Loans

Governmental Issuer Loans	9 Months Ended
	Sep. 30, 2022
Governmental Issuer Loans [Abstract]
Governmental Issuer Loans	7. Governmental Issuer Loans The Partnership owns governmental issuer loans (“GILs”) that are issued by state or local governmental authorities to finance the construction of affordable multifamily properties. The Partnership expects and believes the interest earned on the GILs is excludable from gross income for federal income tax purposes. The GILs do not constitute an obligation of any government, agency or authority and no government, agency or authority is liable for them, nor is the taxing power of any government pledged to the payment of principal or interest on the GILs. Each GIL is secured by a mortgage on all real and personal property of the affordable multifamily property. The GILs share first mortgage lien positions with property loans and/or taxable GILs also owned by the Partnership (Notes 10 and 12). Sources of the funds to pay principal and interest on a GIL consist of the net cash flow or the sale or refinancing proceeds from the secured property and limited-to-full payment guaranties provided by affiliates of the borrower. The Partnership has committed to provide total funding for certain GILs on a draw-down basis during construction. The GILs, with the exception of Poppy Grove I, Poppy Grove II, and Poppy Grove III, were held in trust in connection with TOB trust financings as of September 30, 2022 and December 31, 2021 (Note 15). At the closing of each GIL, Freddie Mac, through a servicer, has forward committed to purchase the GIL at maturity if the property has reached stabilization and other conditions are met (Note 21). The Partnership had the following GIL investments as of September 30, 2022 and December 31, 2021: As of September 30, 2022 Property Name Month Property Units Maturity (1) Interest Rate (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 1/1/2023 SIFMA + 3.10 % 5.56 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 2.25 % 4.71 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 5.21 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 6.05 % 34,620,000 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 6.05 % 24,450,000 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2023 SIFMA + 3.75 % 6.21 % 23,390,000 Hope on Broadway January 2021 Los Angeles, CA 49 2/1/2023 SIFMA + 3.75 % 6.21 % 10,691,245 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 5.36 % 30,648,439 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 5.59 % 12,358,271 Magnolia Heights (3) June 2022 Covington, GA 200 7/1/2024 SOFR + 3.85 % 6.14 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 6,746,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 3,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 7,350,000 $ 281,275,255 (1) The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 21). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. As of December 31, 2021 Property Name Month Property Units Maturity (1) Variable Interest (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 1/1/2023 SIFMA + 3.10 % 3.20 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 3.25 % (4) 3.75 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 3.25 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 3.57 % 33,120,605 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 3.57 % 21,550,584 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2023 SIFMA + 3.75 % 4.60 % 9,981,200 Hope on Broadway January 2021 Los Angeles, CA 49 2/1/2023 SIFMA + 3.75 % 4.60 % 3,691,245 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 3.57 % 6,372,030 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 3.55 % 2,971,786 $ 184,767,450 (1) The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 21). (4) The variable rate decreases to SIFMA plus 2.25 % upon completion of construction. The partnership has remaining commitments to provide additional funding of the GILs during construction and/or rehabilitation of the secured properties as of September 30, 2022. See Note 18 for further information regarding the Partnership’s remaining GIL funding commitments. Activity in the First Nine Months of 2022 Acquisitions: During the nine months ended September 30, 2022, the Partnership entered into multiple GIL commitments to provide construction financing for the underlying properties on a draw-down basis as summarized below. • $ 20.4 million commitment related to Magnolia Heights; • $ 35.7 million commitment related to Poppy Grove I; • $ 22.3 million commitment related to Poppy Grove II; and • $ 39.1 million commitment related to Poppy Grove III. Activity in the First Nine Months of 2021 Acquisitions: During the nine months ended September 30, 2021, the Partnership entered into multiple GIL commitments to provide construction financing for the underlying properties on a draw-down basis as summarized below. • $ 34.6 million commitment related to Legacy Commons at Signal Hills; • $ 24.5 million commitment related to Hilltop at Signal Hills; • $ 23.4 million commitment related to Hope on Avalon; • $ 12.1 million commitment related to Hope on Broadway; • $ 60.0 million commitment related to Osprey Village; and • $ 25.0 million commitment related to Willow Place Apartments.

Real Estate Assets

Real Estate Assets	9 Months Ended
	Sep. 30, 2022
Real Estate [Abstract]
Real Estate Assets	8. Real Estate Assets The following tables summarize information regarding the Partnership’s real estate assets as of September 30, 2022 and December 31, 2021: Real Estate Assets as of September 30, 2022 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,205,961 $ 39,426,150 $ 42,632,111 The 50/50 MF Property Lincoln, NE 475 - 33,812,722 33,812,722 Vantage at San Marcos San Marcos, TX (1) 2,660,615 682,929 3,343,544 Land held for development (2) 1,551,196 - 1,551,196 $ 81,339,573 Less accumulated depreciation ( 22,740,549 ) Net real estate assets $ 58,599,024 (1) The land is owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. Real Estate Assets as of December 31, 2021 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,199,268 $ 39,302,507 $ 42,501,775 The 50/50 MF Property Lincoln, NE 475 - 33,013,039 33,013,039 Vantage at San Marcos San Marcos, TX (1) 2,660,615 682,929 3,343,544 Land held for development (2) 1,551,196 - 1,551,196 $ 80,409,554 Less accumulated depreciation ( 20,701,922 ) Net real estate assets $ 59,707,632 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	9. Investments in Unconsolidated Entities ATAX Vantage Holdings, LLC, a wholly owned subsidiary of the Partnership, has equity investment commitments and has made equity investments in unconsolidated entities. The carrying value of the equity investments represents the Partnership’s maximum exposure to loss. ATAX Vantage Holdings, LLC is the only limited equity investor in the unconsolidated entities. An affiliate of the unconsolidated entities guaranties ATAX Vantage Holdings, LLC’s return on its investments through a date approximately five years after commencement of construction. The return on these investments earned by the Partnership is reported as “Investment income” in the Partnership's condensed consolidated statements of operations. The following table provides the details of the investments in unconsolidated entities as of September 30, 2022 and December 31, 2021: Property Name Location Units Construction Commencement Date Construction Completion Date Carrying Value as of September 30, 2022 Carrying Value as of December 31, 2021 Vantage at Stone Creek Omaha, NE 294 March 2018 April 2020 $ 5,506,982 $ 6,143,099 Vantage at Murfreesboro Murfreesboro, TN 288 September 2018 October 2020 - 12,240,000 Vantage at Coventry Omaha, NE 294 September 2018 February 2021 6,880,265 7,611,614 Vantage at Conroe Conroe, TX 288 April 2019 January 2021 10,424,625 11,164,625 Vantage at O'Connor San Antonio, TX 288 October 2019 June 2021 - 9,109,343 Vantage at Westover Hills San Antonio, TX 288 January 2020 July 2021 - 8,861,504 Vantage at Tomball Tomball, TX 288 August 2020 April 2022 12,731,001 11,814,774 Vantage at Hutto Hutto, TX 288 December 2021 N/A 12,280,709 5,629,651 Vantage at Loveland Loveland, CO 288 April 2021 N/A 17,752,152 10,913,911 Vantage at Helotes Helotes, TX 288 May 2021 N/A 13,752,151 11,350,686 Vantage at Fair Oaks Boerne, TX 288 September 2021 N/A 11,763,456 6,424,306 Vantage at McKinney Falls McKinney Falls, TX 288 December 2021 N/A 12,011,905 6,530,009 $ 103,103,246 $ 107,793,522 The Partnership has remaining commitments to provide additional equity funding for certain unconsolidated entities as of September 30, 2022. See Note 18 for further information regarding the Partnership’s remaining equity funding commitments. Activity in the First Nine Months of 2022 Sales Activity: The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the nine months ended September 30, 2022: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Murfreesboro Murfreesboro, TN 288 March 2022 $ 29,258,279 $ 657,937 $ 16,360,343 Vantage at Westover Hills San Antonio, TX 288 May 2022 20,923,784 - 12,658,501 Vantage at Bulverde Bulverde, TX 288 (1) 60,000 - 60,000 Vantage at Germantown Germantown, TN 288 (2) 4,407 - 4,407 Vantage at O'Connor San Antonio, TX 288 July 2022 19,381,976 1,195 10,580,781 $ 69,628,446 $ 659,132 $ 39,664,032 (1) During the first nine months of 2022, the Partnership received net cash of approximately $ 60,000 associated with final settlements of the Vantage at Bulverde sale in August 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. (2) In March 2022, the Partnership received cash of approximately $ 4,000 associated with final settlements of the Vantage at Germantown sale in March 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. Activity in the First Nine Months of 2021 Sales Activity: The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the nine months ended September 30, 2021: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Germantown Germantown, TN 288 March 2021 $ 16,096,560 $ 862,454 $ 2,809,106 Vantage at Powdersville Powdersville, SC 288 May 2021 20,118,680 2,359,394 5,463,484 Vantage at Bulverde Bulverde, TX 288 August 2021 18,916,961 1,392,312 6,954,649 $ 55,132,201 $ 4,614,160 $ 15,227,239 New and Amended Equity Commitments: In April 2021, the Partnership executed a $ 16.3 million equity commitment to fund the construction of the Vantage at Loveland multifamily property. In May 2021, the Partnership executed a $ 12.6 million equity commitment to fund the construction of the Vantage at Helotes multifamily property. In September 2021, Vantage at Fair Oaks ceased to be a consolidated VIE (Note 5) and the Partnership executed an $ 11.0 million commitment to fund the construction of the property. Summarized Unconsolidated Entity Level Financial Data The following table provides combined summary financial information for the properties underlying the Partnership’s investments in unconsolidated entities for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Property Revenues $ 4,732,250 $ 6,486,029 $ 16,847,354 $ 17,444,805 Gain on sale of property $ 23,231,887 $ 17,646,543 $ 87,835,109 $ 42,273,235 Net income $ 23,309,924 $ 17,591,694 $ 88,447,049 $ 38,102,642

Property Loans, Net of Loan Los

Property Loans, Net of Loan Loss Allowances	9 Months Ended
	Sep. 30, 2022
Property Loans Net Of Loan Loss Allowance [Abstract]
Property Loans, Net of Loan Loss Allowances	10. Property Loans, Net of Loan Loss Allowances The following tables summarize the Partnership’s property loans, net of loan loss allowances, as of September 30, 2022 and December 31, 2021: September 30, 2022 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 24,250,000 $ - $ 24,250,000 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 18,968,334 - 18,968,334 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 28,166,905 - 28,166,905 2/1/2024 SOFR + 3.07 % Magnolia Heights 1,000,000 - 1,000,000 7/1/2024 SOFR + 3.85 % Oasis at Twin Lakes 24,018,657 - 24,018,657 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 24,160,000 - 24,160,000 1/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 122,563,896 - 122,563,896 Other Avistar (February 2013 portfolio) $ 201,972 $ - $ 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 1,798,594 ( 495,000 ) 1,303,594 Total $ 124,362,490 $ ( 495,000 ) $ 123,867,490 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. December 31, 2021 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 11,354,386 $ - $ 11,354,386 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 1,000,000 - 1,000,000 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 2,604,230 - 2,604,230 2/1/2024 SOFR + 3.0 7% Oasis at Twin Lakes 20,607,362 - 20,607,362 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 9,708,598 - 9,708,598 1/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 47,274,576 - 47,274,576 Senior Acquisition Financing Magnolia Crossing $ 13,424,579 $ - $ 13,424,579 12/1/2022 SOFR + 6.50 % (2) Subtotal 13,424,579 - 13,424,579 Other Avistar (February 2013 portfolio) $ 201,972 $ - $ 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Cross Creek 11,101,887 ( 7,393,814 ) 3,708,073 12/1/2025 6.15 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 1,355,534 ( 1,355,534 ) - 7/31/2049 8.00 % Ohio Properties 2,390,446 - 2,390,446 12/1/2026 - 6/1/2050 10.00 % Subtotal 16,151,461 ( 8,749,348 ) 7,402,113 Total $ 76,850,616 $ ( 8,749,348 ) $ 68,101,268 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. (2) The index is subject to a floor of 0.25 %. The Partnership recognized a provision for loan loss and associated loan loss allowance of zero and approximately $ 330,000 for the three and nine months ended September 30, 2021 related to the Live 929 Apartments property loan as the Partnership determined it was probable the outstanding balance will not be collectible. During the three and nine months ended September 30, 2022 and 2021, the interest to be earned on the Live 929 Apartments property loan was in nonaccrual status. The discounted cash flow method used by management to establish the net realizable value of the property loan determined the collection of the interest accrued was not probable. In addition, interest to be earned on the Cross Creek property loan and approximately $ 983,000 of property loan principal for the Ohio Properties was in nonaccrual status for the three and nine months ended September 30, 2021 as, in management’s opinion, the interest was not considered collectible. Activity in the First Nine Months of 2022 In January 2022, the Partnership received approximately $ 1.0 million of principal and interest due on the Live 929 Apartments property loan upon restructuring of the outstanding debt of Live 929 Apartments. The principal payment and related loan loss allowance were considered in the troubled debt restructuring of the Partnership’s investments in Live 929 Apartments discussed further in Note 6. In March 2022, the Ohio Properties property loans were repaid in full. The Partnership received approximately $ 2.4 million of principal and approximately $ 4.3 million of accrued interest upon redemption. In April 2022, the Partnership provided a property loan to Poppy Grove Apartments in the amount of $ 825,000 to fund the design and predevelopment costs for upcoming affordable housing developments in Elk Grove, CA. In June 2022, concurrent with the acquisition of the Magnolia Heights GIL (Note 7), the Partnership committed $ 10.3 million to provide a property loan for the construction of the underlying property on a draw-down basis. The property loan and associated GIL are on parity and share a first mortgage position on all real and personal property associated with the secured property. In August 2022, the outstanding property loans due from Cross Creek were restructured and the Partnership advanced additional funds totaling approximately $ 7.7 million. In September 2022, the underlying Cross Creek property was sold and the Partnership received $ 13.0 million as redemption proceeds to satisfy all outstanding balances, which consisted of $ 11.4 million of principal payments and approximately $ 1.7 million of accrued interest. All property loan balances due from Cross Creek were previously on non-accrual status and fully reserved, so the Partnership recognized approximately $ 1.7 million of other interest income upon redemption. In September 2022, the Magnolia Crossing property loan was repaid in full. The Partnership received proceeds of approximately $ 14.1 million representing outstanding principal and accrued interest upon redemption. In September 2022, the Partnership advanced additional principal totaling $ 900,000 under the Poppy Grove Apartments loan. The Poppy Grove Apartments property loan was subsequently paid in full in September 2022. Activity in the First Nine Months of 2021 Concurrent with the acquisition of GILs (Note 7), the Partnership committed to provide property loans for the construction of the underlying properties on a draw-down basis as summarized below. The property loans and associated GILs are on parity and share a first mortgage position on all real and personal property associated with the secured property. • $ 32.2 million commitment related to Legacy Commons at Signal Hills; • $ 21.2 million commitment related to Hilltop at Signal Hills; • $ 25.5 million commitment related to Osprey Village; and • $ 21.4 million commitment related to Willow Place Apartments. In March 2021, the Partnership amended the property loan with Live 929 Apartments to increase the total available loan amount to $ 1.5 million from $ 1.0 million. The property loan is subordinate to the MRBs associated with the property. In August 2021, the Partnership received approximately $ 328,000 as payment in full for outstanding principal and interest on the property loan due from Arbors at Hickory Ridge. The following table summarizes the changes in the Partnership's loan loss allowance for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Balance, beginning of period $ 7,888,815 $ 8,635,162 $ 8,749,348 $ 8,305,046 Provision for loan loss - - - $ 330,116 Other reductions (1) ( 7,393,815 ) - ( 8,254,348 ) - Balance, end of period $ 495,000 $ 8,635,162 $ 495,000 $ 8,635,162 (1) The reduction in the loan loss allowance for the three and nine months ended September 30, 2022 is due to the redemption of all Cross Creek property loan balances in September 2022 and a principal payment received on the Live 929 Apartments property loan as part of the restructuring of the outstanding debt of Live 929 Apartments (Note 6) in January 2022.

Income Tax Provision

Income Tax Provision	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax Provision	11. Income Tax Provision The Partnership recognizes current income tax expense for federal, state, and local income taxes incurred by the Greens Hold Co, which owns The 50/50 MF Property and certain property loans. The following table summarizes income tax expense (benefit) for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Current income tax expense (benefit) $ ( 38,980 ) $ ( 39,131 ) $ 3,688 $ 104,483 Deferred income tax benefit ( 42,543 ) ( 42,011 ) ( 49,250 ) ( 77,681 ) Total income tax expense (benefit) $ ( 81,523 ) $ ( 81,142 ) $ ( 45,562 ) $ 26,802 The Partnership evaluated whether it is more likely than not that its deferred income tax assets will be realizable. There was no valuation allowance recorded as of September 30, 2022 and December 31, 2021.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2022
Other Assets [Abstract]
Other Assets	12. Other Assets The following table summarizes the Partnership's other assets as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Deferred financing costs, net $ 1,085,136 $ 1,349,097 Fair value of derivative instruments (Note 17) 6,855,221 343,418 Taxable mortgage revenue bonds, at fair value 13,528,034 3,428,443 Taxable governmental issuer loans 4,000,000 1,000,000 Bond purchase commitments, at fair value (Note 18) - 964,404 Operating lease right-of-use assets, net 1,598,037 1,619,714 Other assets 2,650,240 2,157,809 Total other assets $ 29,716,668 $ 10,862,885 As of September 30, 2022 and December 31, 2021, the operating lease right-of-use assets consisted primarily of a ground lease at the 50/50 MF Property (Note 13). The Partnership has remaining commitments to provide additional funding of the taxable GILs and taxable MRBs during construction and/or rehabilitation of the secured properties as of September 30, 2022. See Note 18 for further information regarding the Partnership’s remaining taxable GIL and taxable MRB funding commitments. See Note 22 for a description of the methodology and significant assumptions for determining the fair value of derivative instruments, taxable MRBs and bond purchase commitments. Unrealized gains or losses on derivative instruments are reported as “Interest expense” in the Partnership's condensed consolidated statements of operations. Unrealized gain or losses on taxable MRBs and bond purchase commitments are recorded in the Partnership's condensed consolidated statements of comprehensive income to reflect changes in their estimated fair values resulting from market conditions and fluctuations in the present value of the expected cash flows from the assets. As of September 30, 2022, three taxable MRBs with a fair value of $ 9.0 million were held in trust in connection with TOB trust financings (Note 15). Activity in the First Nine Months of 2022 The following table includes details of the taxable MRBs and taxable GILs acquired during the nine months ended September 30, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Acquired Live 929 Apartments - Series 2022B January 2022 Baltimore, MD 575 1/1/2029 4.30 % $ 3,625,000 Residency at the Entrepreneur - Series J-T (1) April 2022 Los Angeles, CA 200 4/1/2025 SOFR + 3.65 % 1,000,000 Poppy Grove I (2) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 1,000,000 Poppy Grove II (2) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 1,000,000 Poppy Grove III (2) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 1,000,000 $ 7,625,000 (1) The Partnership has committed to provide total funding for this taxable MRB of $ 13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92 %. (2) The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $ 21.2 million, $ 10.9 million, and $ 24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees. Activity in the First Nine Months of 2021 The following table includes details of the taxable GIL acquired during the nine months ended September 30, 2021: Property Name Date Committed Maturity Date Initial Outstanding Balance Total Commitment Hope on Avalon January 2021 2/1/2023 (1) $ 1,000,000 $ 10,573,000 (1) The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee.

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	13. Accounts Payable, Accrued Expenses and Other Liabilities The following table summarizes the Partnership's accounts payable, accrued expenses and other liabilities as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Accounts payable $ 1,784,160 $ 1,234,111 Accrued expenses 4,462,978 4,102,381 Accrued interest expense 5,967,620 4,229,119 Operating lease liabilities 2,152,660 2,151,991 Bond purchase commitment, at fair value (Note 18) 82,911 - Other liabilities 1,915,793 1,946,610 Total accounts payable, accrued expenses and other liabilities $ 16,366,122 $ 13,664,212 The 50/50 MF Property has a ground lease with the University of Nebraska-Lincoln with an initial lease term expiring in March 2048 . The Partnership has an option to extend the lease for an additional five-year period, which has not been factored into the calculation of the ROU asset and lease liability. Annual lease payments are $ 100 per year. The Partnership is also required to make monthly payments, when cash is available at The 50/50 MF Property, to the University of Nebraska-Lincoln. Payment amounts are based on The 50/50 MF Property’s revenues, subject to an annual guaranteed minimum amount. As of September 30, 2022, the minimum aggregate annual payment due under the agreement is approximately $ 141,000 . The minimum aggregate annual payment increases 2 % annually until July 31, 2034 and increases 3 % annually thereafter. The 50/50 MF Property will be required to make additional payments under the agreement if its gross revenues exceed certain thresholds. The Partnership recognized expenses related to the ground lease of approximately $ 42,000 and $ 126,000 for the three and nine months ended September 30, 2022 and 2021, respectively, and are reported within “Real estate operating expenses” in the Partnership's condensed consolidated statements of operations. The following table summarizes future contractual payments for the Partnership’s operating leases and a reconciliation to the carrying value of operating lease liabilities as of September 30, 2022: Remainder of 2022 $ 35,657 2023 143,561 2024 144,706 2025 147,598 2026 150,548 Thereafter 4,219,127 Total 4,841,197 Less: Amount representing interest ( 2,688,537 ) Total operating lease liabilities $ 2,152,660

Secured Lines of Credit

Secured Lines of Credit	9 Months Ended
	Sep. 30, 2022
Secured Line Of Credit Facility [Member]
Line Of Credit Facility [Line Items]
Secured Lines of Credit	14. Secured Lines of Credit The following tables summarize the Partnership's secured lines of credit ("LOC" or "LOCs") as of September 30, 2022 and December 31, 2021: Secured Lines of Credit Outstanding as of September 30, 2022 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 5.88 % Bankers Trust Acquisition LOC 24,442,000 50,000,000 June 2024 (3) Variable (4) Monthly 5.10 % $ 30,942,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited, N.A. (“BankUnited”) if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. (3) The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee. (4) The variable rate is equal to 2.50 % plus a variable component based on the 1-month forward looking term Secured Overnight Financing Rate as published by CME Group Benchmark Administration Limited (“Term SOFR”). Secured Lines of Credit Outstanding as of December 31, 2021 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 3.50 % Bankers Trust Acquisition LOC 39,214,000 50,000,000 June 2023 Variable (3) Monthly 3.10 % $ 45,714,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. (3) The variable rate is equal to the greater of (i) the Prime Rate or (ii) 3.25 % per annum; plus or minus a margin varying from 0.35 % to ( 0.65 %) depending upon the ratio of the Partnership’s senior debt to market value of assets. The Partnership has entered into a secured Credit Agreement (“Secured Credit Agreement”) of up to $ 40.0 million with BankUnited and Bankers Trust Company, and the sole lead arranger and administrative agent, BankUnited, for a general secured line of credit (the “General LOC”). The aggregate available commitment cannot exceed a borrowing base calculation, that is equal to 40 % multiplied by the aggregate value of a pool of eligible encumbered assets. Eligible encumbered assets consist of (i) the net book value of the Suites on Paseo MF Property, and (ii) 100 % of the Partnership’s capital contributions to equity investments, subject to certain restrictions. The proceeds of the General LOC will be used by the Partnership to purchase additional investments and to meet general working capital and liquidity requirements. The Partnership may borrow, prepay and reborrow amounts at any time through the maturity date, subject to the limitations of the borrowing base. The General LOC is secured by first priority security interests in the Partnership’s investments in unconsolidated entities, a mortgage and assignment of leases and rents of the Suites on Paseo MF Property, and a security interest in a bank account at BankUnited, in which the Partnership must maintain a balance of not less than $ 5.0 million. In addition, an affiliate of the Partnership, Greystone Select Incorporated (“Greystone Select”), has provided a deficiency guaranty of the Partnership’s obligations under the Secured Credit Agreement. Greystone Select is subject to certain covenants and was in compliance with such covenants as of September 30, 2022. No fees were paid to Greystone Select related to the deficiency guaranty agreement. The Partnership is subject to various affirmative and negative covenants under the Secured Credit Agreement that, among others, require the Partnership to maintain a minimum liquidity of not less than $ 5 million, maintain a minimum consolidated tangible net worth of $ 100.0 million, and to notify BankUnited if the Partnership’s consolidated net worth declines by (a) more than 20 % from the immediately preceding quarter, or (b) more than 35 % from the date at the end of two consecutive calendar quarters ending immediately thereafter. The Partnership was in compliance with all covenants as of September 30, 2022. In addition, the Partnership and Bankers Trust Company have entered into an amended and restated credit agreement for a secured non-operating line of credit (the “Acquisition LOC”) with a maximum commitment of up to $ 50.0 million. The Acquisition LOC may be used to fund purchases of multifamily real estate, tax-exempt or taxable MRBs, and tax-exempt or taxable loans issued to finance the acquisition, rehabilitation, or construction of affordable housing or which are otherwise secured by real estate or mortgage-backed securities (collectively, the “financed assets”). The financed assets acquired with the proceeds of the Acquisition LOC will be held in a custody account and the outstanding balances of the Acquisition LOC will be secured by a first priority interest in the financed assets and will be maintained in the custody account until released by Bankers Trust Company. Advances on the Acquisition LOC are due on the 270th day following the advance date but may be extended for up to three additional 90-day periods , but in no event later than the maturity date by providing Bankers Trust Company with a written request for such extension together with a principal payment of 5 % of the principal amount of the original acquisition advance for the first such extension, 10 % for the second such extension, and 20 % for the third such extension. In July 2022, the Partnership executed an amendment to the credit agreement that extended the maturity date to June 2024; provided the Partnership two one-year extension options, subject to certain terms and conditions; removed certain restricted payment provisions; modified the covenant requiring senior debt to not exceed a specified percentage of the market value of the Partnership’s assets to be consistent with the Leverage Ratio (as defined by the Partnership) and increased the threshold percentage; modified certain notification provisions regarding defaults under agreements with other creditors; added certain events of default that are consistent with the Partnership’s other secured financing arrangements; and eliminated the Partnership’s ability to finance purchases of existing or to-be-constructed multifamily property improvements under the credit agreement. In addition, certain interest rate terms were modified. The Partnership was in compliance with all covenants as of September 30, 2022.

Debt Financing

Debt Financing	9 Months Ended
	Sep. 30, 2022
Debt Financing [Abstract]
Debt Financing	15. Debt Financing The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of September 30, 2022 and December 31, 2021: Outstanding Debt Restricted Year Stated Reset Variable Rate Index Index Spread/ Period End TEBS Financings Fixed - M24 $ 7,752,126 $ 39,080 2010 2027 N/A N/A N/A N/A 3.05 % Variable - M31 (1) 75,970,493 4,999 2014 2024 Weekly SIFMA 1.43 % 2.49 % 3.92 % Fixed - M33 29,713,724 2,606 2015 2030 N/A N/A N/A N/A 3.24 % Fixed - M45 (2) 212,430,600 5,000 2018 2034 N/A N/A N/A N/A 3.82 % Secured Notes Variable - Notes 102,567,831 36,009,014 2020 2025 Monthly 3-month LIBOR 3.29 % 9.00 % 12.29 % (3) TOB Trust Securitizations Mizuho Capital Markets: Variable - TOB 48,712,716 (4) 2020 - 2021 2023 Weekly SIFMA 2.66 % - 2.68 % 0.89 % - 1.44 % 3.55 % - 4.10 % Variable - TOB 139,759,072 (4) 2020 2023 Weekly OBFR 3.32 % 0.89 % 4.21 % Variable - TOB 170,843,324 (4) 2021 2024 Weekly OBFR 3.32 % 0.89 % - 1.16 % 4.21 % - 4.48 % Variable - TOB 59,556,053 (4) 2019 - 2020 2025 Weekly SIFMA 2.66 % - 2.68 % 1.17 % - 1.67 % 3.83 % - 4.35 % Variable - TOB 13,337,843 (4) 2022 2025 Weekly OBFR 3.32 % 1.18 % 4.50 % Variable - TOB 53,088,531 (4) 2022 2027 Weekly SIFMA 2.68 % 1.18 % 3.86 % Morgan Stanley: Fixed - Term TOB 12,852,040 - 2019 2024 N/A N/A N/A N/A 1.98 % Barclays Capital Inc.: Variable - TOB 36,031,013 - 2021 2023 Weekly OBFR 3.60 % 1.27 % 4.87 % Total Debt Financings $ 962,615,366 (1) Facility fees have a variable component. (2) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (3) The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.04 % as of September 30, 2022. See Note 17 for further information on the total return swap. (4) The Partnership has restricted cash totaling approximately $ 4.5 million related to its total net position with Mizuho Capital Markets. Outstanding Debt Restricted Year Stated Reset Variable Rate Index Index Spread/ Period End TEBS Financings Fixed - M24 $ 35,551,762 $ 204,000 2010 2027 N/A N/A N/A N/A 3.05 % Variable - M31 (1) 76,964,051 4,999 2014 2024 Weekly SIFMA 0.13 % 1.32 % 1.45 % Fixed - M33 30,191,051 2,606 2015 2030 N/A N/A N/A N/A 3.24 % Fixed - M45 (2) 213,931,752 5,000 2018 2034 N/A N/A N/A N/A 3.82 % Secured Notes Variable - Notes 102,798,158 77,531,264 2020 2025 Monthly 3-month LIBOR 0.20 % 9.00 % 9.20 % (3) TOB Trust Securitizations Mizuho Capital Markets: Variable - TOB 13,482,312 - 2020 2022 Weekly SIFMA 0.23 % 0.89 % 1.12 % Variable - TOB 117,257,933 - 2019 - 2021 2023 Weekly SIFMA 0.23 % - 0.30 % 1.17 % - 1.67 % 1.40 % - 1.97 % Variable - TOB 115,143,312 - 2020 2023 Weekly OBFR 0.18 % 0.89 % 1.07 % Variable - TOB 98,703,495 - 2021 2024 Weekly OBFR 0.18 % 0.89 % - 1.16 % 1.07 % - 1.34 % Morgan Stanley: Fixed - Term TOB 12,915,190 - 2019 2024 N/A N/A N/A N/A 1.98 % Barclays Capital Inc.: Variable - TOB 3,139,698 - 2021 2022 Weekly OBFR 0.14 % 1.27 % 1.41 % Total Debt Financings $ 820,078,714 (1) Facility fees have a variable component. (2) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (3) The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25 % for approximately $ 39.6 million of the Secured Notes and 1.00 % for approximately $ 63.5 million of the Secured Notes as of December 31, 2021. See Note 17 for further information on the total return swaps. The TOB, Term TOB and TEBS financing arrangements are consolidated VIEs of the Partnership (Note 5). The Partnership is the primary beneficiary due to its rights to the underlying assets. Accordingly, the Partnership consolidates the TOB, Term TOB and TEBS financings on the Partnership's condensed consolidated financial statements. See information regarding the MRBs, GILs, property loans, taxable MRBs and taxable GIL securitized within the TOB, Term TOB and TEBS financings in Notes 6, 7, 10 and 12, respectively. As the residual interest holder in the arrangements, the Partnership may be required to make certain payments or contribute certain assets to the VIEs if certain events occur. Such events include, but are not limited to, a downgrade in the investment rating of the senior securities issued by the VIEs, a ratings downgrade of the liquidity provider for the VIEs, increases in short term interest rates beyond pre-set maximums, an inability to re-market the senior securities, or an inability to obtain liquidity for the senior securities. If such an event occurs in an individual VIE, the Partnership may be required to deleverage the VIE by repurchasing some or all of the senior securities. Otherwise, the underlying collateral will be sold and, if the proceeds are not sufficient to pay the principal amount of the senior securities plus accrued interest and other trust expenses, the Partnership will be required to fund any such shortfall. If the Partnership does not fund the shortfall, the default and liquidation provisions will be invoked against the Partnership. The Partnership has never been, and does not expect in the future, to be required to reimburse the VIEs for any shortfall. The Partnership has entered into various TOB trust financings with Mizuho and Barclays secured by MRBs, GILs, taxable MRBs, a taxable GIL, and property loans. The TOB trusts and Secured Notes with Mizuho and the TOB trust with Barclays are subject to respective master agreements that contain certain covenants and requirements. The TOB trust financings with Mizuho and Barclays require that the Partnership's residual interests in each TOB trust maintain a certain value in relation to total assets in each TOB trust. The Mizuho and Barclays master agreements also require the Partnership's partners' capital, as defined, to maintain a certain threshold and that the Partnership remain listed on the NASDAQ. The master agreement with Barclays also puts limits on the Partnership's Leverage Ratio (as defined by the Partnership). In addition, both Mizuho and Barclays master agreements specify that default(s) on the Partnership’s other senior debts above a specified dollar amount, in the aggregate, will constitute a default under the master agreement. If the Partnership is not in compliance with any of these covenants, a termination event of the financing facilities would be triggered. The Partnership was in compliance with these covenants as of September 30, 2022. As of September 30, 2022 and December 31, 2021, the Partnership posted restricted cash as contractually required under the terms of the four TEBS financings. In addition, the Partnership has entered into an interest rate cap agreement to mitigate its exposure to interest rate fluctuations on the variable-rate M31 TEBS financing (Note 17). As of September 30, 2022 and December 31, 2021, the restricted cash associated with the Secured Notes is collateral posted with Mizuho according to the terms of two total return swaps that have the Secured Notes as the reference security (Note 17). The Partnership may also be required to post additional collateral if the value of TEBS financing residual certificates declines below a threshold under the total return swaps. The Partnership may also be required to post collateral, typically cash, related to the TOB trust financings with Mizuho and Barclays. The amount of collateral posting required is dependent on the valuation of the securitized assets and interest rate swaps (Note 17) in relation to thresholds set by Mizuho and Barclays. As of September 30, 2022, the Partnership had posted approximately $ 4.5 million of cash collateral with Mizuho. There was no requirement to post collateral with Barclays as of September 30, 2022. The Term TOB trust financing with Morgan Stanley is subject to a Trust Agreement and other related agreements that contain covenants with which the Partnership or the underlying MRB are required to comply. The underlying property must maintain certain occupancy and debt service covenants. A termination event will occur if the Partnership’s net assets, as defined, decrease by 25 % in one quarter or 35 % over one year. The covenants also require the Partnership’s partners’ capital, as defined, to maintain a certain threshold and that the Partnership remain listed on a nationally recognized stock exchange. If the underlying property or the Partnership, as applicable, is out of compliance with any of these covenants, a termination event of the financing facility would be triggered. The Partnership was in compliance with all covenants as of September 30, 2022. The Partnership’s variable rate debt financing arrangements include maximum interest rate provisions that prevent the debt service on the debt financings from exceeding the cash flows from the underlying securitized assets. Activity in the First Nine Months of 2022 New Debt Financings: The following is a summary of the new TOB trust financings that were entered into during the nine months ended September 30, 2022: TOB Trusts Securitization Initial TOB Stated Maturity Reset Variable Rate Index Facility Fees Residency at the Entrepreneur MRBs and taxable MRB $ 14,000,000 April 2025 Weekly OBFR 1.18 % Live 929 Series 2022A MRB (1) 53,092,000 September 2027 Weekly SIFMA 1.18 % Total TOB Trust Financings $ 67,092,000 (1) The TOB Trust financing associated with the Live 929 Apartments MRB and taxable MRB was originated in January 2022 and subsequently redeemed in September 2022. The Live 929 Apartments Series 2022A MRB was securitized into a new TOB Trust financing in September 2022. The Live 929 Apartments Series 2022B taxable MRB was removed from the original TOB trust financing and was not leveraged in a debt financing facility as of September 30, 2022. The termination of the original TOB Trust financing was treated as an extinguishment for accounting purposes and the Partnership expensed approximately $ 508,000 of deferred financings costs. In July 2022, the Partnership deposited the Magnolia Heights GIL and property loan into the existing TOB Trust 2021-XF2953 financing and received additional debt financing proceeds of approximately $ 12.6 million. Redemptions: The following is a summary of TOB trust financings that were redeemed and all principal and interest were paid in full during the nine months ended September 30, 2022: Debt Financing Debt Facility Month Paydown Applied Live 929 Apartments - 2014 Series A TOB Trust January 2022 $ 31,565,000 Gateway Village TOB Trust May 2022 2,183,000 Lynnhaven Apartments TOB Trust May 2022 2,896,000 $ 36,644,000 Refinancing Activity: The Partnership executed three-month extensions of the maturity date of Barclays credit facility Trust 2021-XF2953 in January, April, July and October 2022. There were no additional changes to terms or fees associated with the extensions. In April 2022, the Partnership extended the maturity date of TOB trust financings for Hope on Avalon and Hope on Broadway from February 2023 to August 2023. Additionally, in June 2022, the Partnership extended the maturity date of the TOB trust financings for Ocotillo Springs - Series A from July 2022 to July 2023. There were no additional changes to terms or fees associated with the extensions. In July 2022, the Partnership extended the maturity date of TOB trust financings for Montecito at Williams Ranch - Series A, Vineyard Gardens - Series A, Avistar at Copperfield - Series A, Avistar at Wilcrest - Series A, and Avistar at Wood Hollow - Series A from July 2023 to July 2025. There were no additional changes to terms or fees associated with the extensions. In September 2022, the Partnership made certain structural modifications to the TOB trust financings for Hope on Avalon, Hope on Broadway and Jackson Manor, but these changes did not materially impact the financial terms of the TOB trust financings. The structural modifications required cash settlement of the initial TOB trust financings and receipt of cash proceeds from the new TOB trust financings. The cash settlements and proceeds are reported on a gross basis in the cash flows from financing activities section of the consolidated statements of cash flows. Activity in the First Nine Months of 2021 New Debt Financings: The following is a summary of the TOB trust financings that were entered into during the nine months ended September 30, 2021: TOB Trusts Securitization Initial TOB (1) Stated Maturity Reset Variable Rate Index Facility Fees Trust 2021-XF2926 (2) $ 16,190,000 January 2024 Weekly OBFR 0.89 % Hope on Avalon GIL 5,064,000 February 2023 Weekly SIFMA 1.42 % Hope on Broadway GIL 2,953,000 February 2023 Weekly SIFMA 1.42 % Jackson Manor Apartments MRB 3,528,000 April 2023 Weekly SIFMA 1.27 % Trust 2021-XF2939 (3) 4,085,000 July 2024 Weekly OBFR 1.16 % Total TOB Trust Financings $ 31,820,000 (1) Amounts shown are the initial funding into the respective TOB trusts. The balances will increase based upon subsequent fundings of the related securitized assets and the current outstanding balances are contained in the summarized debt financing table above. (2) The TOB trust is securitized by the Legacy Commons at Signal Hills GIL and property loan, Hilltop at Signal Hills GIL and property loan, Oasis at Twin Lakes property loan and Hope on Avalon taxable GIL. (3) The TOB Trust is a securitization of the Osprey Village GIL and property loan and the Ocotillo Springs Series A-T taxable MRB. Redemptions: The following is a summary of the TOB trust financings that were collapsed and all principal and interest were paid in full during the nine months ended September 30, 2021: Debt Financing Debt Facility Month Paydown Applied Rosewood Townhomes - Series A TOB Trust July 2021 $ 7,700,000 South Pointe Apartments - Series A TOB Trust July 2021 17,990,000 $ 25,690,000 Refinancing Activity: In June 2021, the Partnership extended the maturity date of the Morgan Stanley Term TOB financing from May 2022 to May 2024 and the interest rate was reduced to 1.98 % from 3.53 %. Future Maturities The Partnership’s contractual maturities of borrowings as of September 30, 2022 for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: Remainder of 2022 $ 1,675,596 2023 230,681,816 2024 269,559,152 2025 177,359,289 2026 3,544,863 Thereafter 282,537,017 Total 965,357,733 Unamortized deferred financing costs and debt premium ( 2,742,367 ) Total debt financing, net $ 962,615,366

Mortgages Payable and Other Sec

Mortgages Payable and Other Secured Financing	9 Months Ended
	Sep. 30, 2022
Mortgages Payable [Abstract]
Mortgages Payable and Other Secured Financing	16. Mortgages Payable and Other Secured Financing The Partnership has entered into mortgages payable and other secured financings collateralized by MF Properties. The following is a summary of the mortgages payable and other secured financing, net of deferred financing costs, as of September 30, 2022 and December 31, 2021: Property Mortgage Payables Outstanding Mortgage Outstanding Mortgage Year Stated Maturity Variable Period End The 50/50 MF Property--TIF Loan $ 1,978,582 $ 2,174,453 2020 March 2025 Fixed 4.40 % The 50/50 MF Property--Mortgage 22,562,273 22,960,090 2020 April 2027 Fixed 4.35 % Vantage at San Marcos--Mortgage (1) 1,690,000 1,690,000 2020 November 2022 Variable 7.00 % Total Mortgage Payable\Weighted $ 26,230,855 $ 26,824,543 4.52 % (1) The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 5). Future Maturities The Partnership’s contractual maturities of borrowings as of September 30, 2022 for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: Remainder of 2022 $ 1,996,021 2023 910,597 2024 948,679 2025 1,711,556 2026 641,276 Thereafter 20,023,765 Total 26,231,894 Unamortized deferred financing costs ( 1,039 ) Total mortgages payable and other secured financings, net $ 26,230,855

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2022
Interest Rate Derivatives [Abstract]
Derivative Financial Instruments	17. Derivative Financial Instruments The Partnership’s derivative financial instruments are not designated as hedging instruments and are recorded at fair value. Changes in fair value are included in current period earnings as “Interest expense” in the Partnership's condensed consolidated statements of operations. The value of the Partnership’ interest rate swaps are subject to mark-to-market collateral posting provisions in conjunction with the Partnership’s TOB trust financings (Note 15). See Note 22 for a description of the methodology and significant assumptions for determining the fair value of the derivatives. The derivative financial instruments are presented within “Other assets” in the Partnership's condensed consolidated balance sheets. Interest Rate Swap Agreements During the first quarter of 2022, the Partnership entered into two interest rate swap agreements to mitigate interest rate risk associated with the variable rate TOB trust financings (Note 15). No fees were paid to Mizuho upon closing of the interest rate swaps. The following table summarizes the Partnership's interest rate swap agreements as of September 30, 2022: Trade Date Notional Amount Effective Date Termination Date Fixed Rate Paid Period End Variable Rate Received Variable Rate Index Variable Debt (1) Counterparty Fair Value of Asset as of February 2022 55,990,000 2/9/2022 2/1/2024 1.40 % 2.49 % SOFR TOB Trusts Mizuho Capital Markets $ 2,202,723 March 2022 47,850,000 3/3/2022 3/1/2027 1.65 % 2.49 % SOFR TOB Trusts Mizuho Capital Markets 4,268,940 $ 6,471,663 (1) See Notes 15 and 22 for additional details. Total Return Swap Agreements The following table summarizes the terms of the Partnership’s total return swaps as of September 30, 2022 and December 31, 2021: Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of September 2020 102,789,326 September 2020 Sept 2025 7.04 % (1) 12.29 % (2) 3-month LIBOR Mizuho Capital Markets $ 224,852 $ 224,852 (1) Variable rate equal to 3-month LIBOR + 3.75 %, subject to an all-in floor of 4.25 %. (2) Variable rate equal to 3-month LIBOR + 9.00 % . Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of September 2020 39,607,744 September 2020 Sept 2025 4.25 % (1) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets $ 77,061 September 2020 63,500,000 September 2020 Mar 2022 1.00 % (2) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets 215,267 $ 292,328 (1) Variable rate equal to 3-month LIBOR + 3.75 %, subject to an all-in floor of 4.25 %. (2) Variable rate equal to 3-month LIBOR + 0.50 %, subject to an all-in floor of 1.00 %. (3) Variable rate equal to 3-month LIBOR + 9.00 % . The total return swap has the Partnership’s Secured Notes with Mizuho as the specified reference security (Note 15). The notional amount of the total return swaps is $ 102.8 million . The rate received on the total return swap is equal to the interest rate on the Secured Notes such that they offset one another, resulting in a net interest cost equal to the rate paid on the total return swap. Under the total return swap, the Partnership is liable for any decline in the value of the Secured Notes. If the fair value of the underlying Secured Notes is less than the outstanding principal balance, the Partnership is required to post additional cash collateral equal to the amount of the deficit. Such a deficit will also be reflected in the fair value of the total return swaps. The Partnership was required to initially fund cash collateral with Mizuho for each total return swap. The total return swap with a current notional amount of $ 102.8 million requires the Partnership to maintain cash collateral equal to 35 % of the notional amount. The second total return swap, which was terminated in March 2022, required the Partnership to maintain cash collateral equal to 100 % of the notional amount. In March 2022, the Partnership allocated the notional amount of $ 63.5 million from the second total return swap to the first total return swap which resulted in an increase in unrestricted cash of approximately $ 41.3 million. Interest Rate Cap Agreement The Partnership has entered into an interest rate cap agreement to mitigate our exposure to interest rate risk associated with variable-rate debt financing facilities. The following tables summarize the Partnership’s interest rate cap agreement as of September 30, 2022 and December 31, 2021: Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 75,449,918 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 158,706 $ 158,706 (1) See Notes 15 and 22 for additional details. Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 76,544,336 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 51,090 $ 51,090 (1) See Notes 15 and 22 for additional details.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies Legal Proceedings The Partnership, from time to time, is subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are frequently covered by insurance. If it has been determined that a loss is probable to occur and the amount of the loss can be reasonably estimated, the estimated amount of the loss is accrued in the Partnership's condensed consolidated financial statements. If the Partnership determines that a loss is reasonably possible, the Partnership will, if material, disclose the nature of the loss contingency and the estimated range of possible loss, or include a statement that no estimate of loss can be made. While the resolution of these matters cannot be predicted with certainty, the Partnership currently believes there are no pending legal proceedings in which the Partnership is currently involved the outcome of which will have a material effect on the Partnership’s financial condition, results of operations, or cash flows. Bond Purchase Commitments The Partnership may enter into bond purchase commitments related to MRBs to be issued and secured by properties under construction. Upon execution of the bond purchase commitment, the proceeds from the MRBs will be used to pay off the construction related debt. The Partnership bears no construction or stabilization risk during the commitment period. The Partnership accounts for its bond purchase commitments as available-for-sale securities and reports the asset or liability at fair value. Changes in the fair value of bond purchase commitments are recorded as gains or losses on the Partnership's condensed consolidated statements of comprehensive income (loss). The following table summarizes the Partnership’s bond purchase commitments as of September 30, 2022: Bond Purchase Commitments Commitment Date Maximum Interest Estimated Closing Fair Value as of Fair Value as of CCBA Senior Garden Apartments July 2020 $ - 4.50 % June 2022 (1) $ - $ 495,784 Anaheim & Walnut September 2021 3,900,000 4.85 % Q3 2024 ( 82,911 ) 468,620 $ 3,900,000 $ ( 82,911 ) $ 964,404 (1) The closing date is actual. Investment Commitments The Partnership has remaining commitments to provide additional funding of certain MRBs, taxable MRBs, GILs, taxable GILs, and property loans while the secured properties are under construction or rehabilitation. The Partnership also has outstanding commitments to contribute additional equity to unconsolidated entities. The following table summarizes the Partnership's total and remaining commitments as of September 30, 2022: Property Name Commitment Date Maturity Date Interest Rate (1) Total Initial Commitment Remaining Commitment Mortgage Revenue Bonds Residency at the Mayer - Series A October 2021 April 2039 SOFR + 3.60 % $ 29,500,000 $ 4,500,000 Meadow Valley December 2021 December 2029 6.25 % 44,000,000 42,276,563 Residency at the Entrepreneur- Series J-3 April 2022 March 2040 6.00 % 26,080,000 26,080,000 Residency at the Entrepreneur- Series J-4 April 2022 March 2040 SOFR + 3.60 % (2) 16,420,000 16,420,000 Subtotal 116,000,000 89,276,563 Taxable Mortgage Revenue Bonds Residency at the Mayer Series A-T October 2021 April 2024 (3) SOFR + 3.70 % $ 12,500,000 $ 11,500,000 Residency at the Entrepreneur Series J-T April 2022 April 2025 (3) SOFR + 3.65 % 13,000,000 12,000,000 Subtotal 25,500,000 23,500,000 Governmental Issuer Loans Hope on Broadway January 2021 February 2023 (3) SIFMA + 3.75 % $ 12,105,623 $ 1,414,378 Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 60,000,000 29,351,561 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 25,000,000 12,641,729 Poppy Grove I September 2022 April 2025 (3) 6.78 % 35,688,328 28,942,328 Poppy Grove II September 2022 April 2025 (3) 6.78 % 22,250,000 18,708,700 Poppy Grove III September 2022 April 2025 (3) 6.78 % 39,119,507 31,769,507 Subtotal 194,163,458 122,828,203 Taxable Governmental Issuer Loans Hope on Avalon January 2021 February 2023 (3) SOFR + 3.55 % $ 10,573,000 $ 9,573,000 Poppy Grove I September 2022 April 2025 (3) 6.78 % 21,157,672 20,157,672 Poppy Grove II September 2022 April 2025 (3) 6.78 % 10,941,300 9,941,300 Poppy Grove III September 2022 April 2025 (3) 6.78 % 24,480,493 23,480,493 Subtotal 67,152,465 63,152,465 Property Loans Oasis at Twin Lakes July 2020 August 2023 (3) LIBOR + 2.50 % $ 27,704,180 $ 3,685,523 Hilltop at Signal Hills January 2021 August 2023 (3) SOFR + 3.07 % 21,197,939 2,229,605 Legacy Commons at Signal Hills January 2021 February 2024 (3) SOFR + 3.07 % 32,233,972 4,067,067 Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 25,500,000 24,500,000 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 21,351,328 20,351,328 Magnolia Heights June 2022 July 2024 (3) SOFR + 3.85 % 10,300,000 9,300,000 Subtotal 138,287,419 64,133,523 Equity Investments Vantage at San Marcos (4) November 2020 N/A N/A $ 9,914,529 $ 8,943,914 Subtotal 9,914,529 8,943,914 Bond Purchase Commitments Anaheim & Walnut September 2021 Q3 2024 (5) 4.85 % $ 3,900,000 $ 3,900,000 Subtotal 3,900,000 3,900,000 Total Commitments $ 554,917,871 $ 375,734,668 (1) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (2) Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. (3) The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (4) The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 5). A development site has been identified for this property but construction had not commenced as of September 30, 2022. (5) This is the estimated closing date of the associated bond purchase commitment. Construction Loan Guaranties The Partnership has entered into guaranty agreements for bridge loans related to certain investments in unconsolidated entities. The Partnership will only have to perform on the guaranties if a default by the borrower were to occur. The Partnership has not accrued any amount for these contingent liabilities because the Partnership believes the likelihood of guaranty claims is remote. The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of September 30, 2022: Borrower Guaranty Maturity Maximum Balance Loan Partnership's Maximum Exposure Guarantee Vantage at Stone Creek 2023 $ 34,222,000 $ 34,222,000 $ 17,111,000 (1) Vantage at Coventry 2023 34,536,000 34,536,000 17,268,000 (1) (1) The Partnership’s guaranty is for 50 % of the loan balance. The Partnership has guaranteed up to 100 % of the outstanding loan balance upon the occurrence of fraud or other willful misconduct by the borrower or if the borrower voluntarily files for bankruptcy. The guaranty agreement requires the Partnership to maintain a minimum net worth of not less than $ 100.0 million and maintain liquid assets of not less than $ 5.0 million. The Partnership was in compliance with these requirements as of September 30, 2022. The Partnership has also provided indemnification to the lender for various costs including environmental non-compliance and remediation during the term. Other Guaranties and Commitments The Partnership has entered into guaranty agreements with unaffiliated entities under which the Partnership has guaranteed certain obligations of the general partners of certain limited partnerships upon the occurrence of a “repurchase event.” Potential repurchase events include LIHTC tax credit recapture and foreclosure. The Partnership’s maximum exposure is limited to 75 % of the equity contributed by the limited partner to each limited partnership. No amount has been accrued for these guaranties because the Partnership believes the likelihood of repurchase events is remote. The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of September 30, 2022: Limited Partnership(s) End of Guaranty Period Partnership's Maximum Exposure Ohio Properties 2026 $ 2,661,066 Greens of Pine Glen, LP 2027 1,854,212

Redeemable Preferred Units

Redeemable Preferred Units	9 Months Ended
	Sep. 30, 2022
Temporary Equity Disclosure [Abstract]
Redeemable Preferred Units	19. Redeemable Preferred Units The Partnership has designated three series of non-cumulative, non-voting, non-convertible Preferred Units that represent limited partnership interests in the Partnership consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The Partnership previously issued Series A Preferred Units via a private placement to five financial institutions. In April 2022, the Partnership issued Series A-1 Preferred Units in exchange for previously issued Series A Preferred Units. These Series A-1 Preferred Units were issued in a registered offering pursuant to a registration statement on Form S-4, which was declared effective by the Securities and Exchange Commission (the “Commission”) on July 6, 2021, and subsequently amended pursuant to a Post-Effective Amendment to the Form S-4, which was declared effective by the Commission on April 13, 2022. The Partnership had not issued any Series B Preferred Units as of September 30, 2022. The Preferred Units have no stated maturity, are not subject to any sinking fund requirements, and will remain outstanding indefinitely unless redeemed by the Partnership or by the holder. Upon the sixth anniversary of the closing of the sale or issuance of Series A Preferred Units or Series A-1 Preferred Units to a subscriber, and upon each anniversary thereafter, the Partnership and each holder have the right to redeem, in whole or in part, the Series A Preferred Units or Series A-1 Preferred Units held by such holder at a per unit redemption price equal to $ 10.00 per unit, plus an amount equal to all declared and unpaid distributions through the date of the redemption. Each holder desiring to exercise its redemption rights must provide written notice of its intent to so exercise no less than 180 calendar days prior to any such redemption date. Upon the eighth anniversary of the closing of the sale or issuance of Series B Preferred Units to a subscriber, and upon each anniversary thereafter, the Partnership and each holder have the right to redeem, in whole or in part, the Series B Preferred Units held by such holder at a per unit redemption price equal to $ 10.00 per unit, plus an amount equal to all declared and unpaid distributions through the date of the redemption. Each holder desiring to exercise its redemption rights must provide written notice of its intent to so exercise no less than 180 calendar days prior to any such redemption date. In the event of any liquidation, dissolution, or winding up of the Partnership, the holders of the Series A Preferred Units, Series A-1 Preferred Units and Series B Preferred Units are entitled to a liquidation preference in connection with their investments. With respect to anticipated quarterly distributions and rights upon liquidation, dissolution, or the winding-up of the Partnership’s affairs, the Series A Preferred Units and Series A-1 Preferred Units will rank: (a) senior to the Partnership's BUCs, the Series B Preferred Units, and to any other class or series of Partnership interests or securities expressly designated as ranking junior to the Series A Preferred Units or Series A-1 Preferred Units; (b) junior to the Partnership's existing indebtedness (including indebtedness outstanding under the Partnership's senior bank credit facility) and other liabilities with respect to assets available to satisfy claims against the Partnership; and (c) junior to any other class or series of Partnership interests or securities expressly designated as ranking senior to the Series A Preferred Units or Series A-1 Preferred Units. The Series B Preferred Units will rank: (a) senior to the BUCs and to any other class or series of Partnership interests or securities that is not expressly designated as ranking senior or on parity with the Series B Preferred Units; (b) junior to the Series A Preferred Units and Series A-1 Preferred Units and to each other class or series of Partnership interests or securities with terms expressly made senior to the Series B Preferred Units; and (c) junior to all the Partnership's existing indebtedness (including indebtedness outstanding under the Partnership's senior bank credit facility) and other liabilities with respect to assets available to satisfy claims against the Partnership. The following table summarizes the outstanding Preferred Units as of September 30, 2022 and December 31, 2021: September 30, 2022 Month Issued Units Purchase Price Distribution Redemption Earliest Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 March 2024 (1) September 2016 1,000,000 10,000,000 3.00 % 10.00 September 2023 (2) December 2016 700,000 7,000,000 3.00 % 10.00 December 2023 (1) March 2017 1,000,000 10,000,000 3.00 % 10.00 March 2023 August 2017 2,000,000 20,000,000 3.00 % 10.00 August 2023 October 2017 1,750,000 17,500,000 3.00 % 10.00 October 2023 Total Series A Preferred Units 7,450,000 74,500,000 Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % 10.00 April 2028 Total Series A-1 Preferred Units 2,000,000 20,000,000 Redeemable Preferred Units 9,450,000 $ 94,500,000 (1) The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. Accordingly, the holder's next optional redemption date is on the next anniversary of the sale of the Series A Preferred Units. (2) The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. In October 2022, the holder exchanged its Series A Preferred Units for newly issued Series A-1 Preferred Units. See Note 24 below for further information regarding this exchange, which occurred after quarter end. December 31, 2021 Month Issued Units Purchase Price Distribution Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 May 2016 1,386,900 13,869,000 3.00 % 10.00 September 2016 1,000,000 10,000,000 3.00 % 10.00 December 2016 700,000 7,000,000 3.00 % 10.00 March 2017 1,613,100 16,131,000 3.00 % 10.00 August 2017 2,000,000 20,000,000 3.00 % 10.00 October 2017 1,750,000 17,500,000 3.00 % 10.00 Redeemable Preferred Units 9,450,000 $ 94,500,000

Restricted Unit Awards

Restricted Unit Awards	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Restricted Unit Awards	20. Restricted Unit Awards The Partnership’s Plan permits the grant of restricted units and other awards to the employees of Greystone Manager, the Partnership, or any affiliate of either, and members of the Board of Managers of Greystone Manager for up to 1.0 million BUCs. As of September 30, 2022, there were approximately 453,000 restricted units and other awards available for future issuance. The number of BUCs with respect to which awards may be granted under the Plan, the number of BUCs subject to outstanding awards granted under the Plan, and the grant price with respect to any such awards were retroactively adjusted to account for the Reverse Unit Split on a one-for-three basis. RUAs have historically been granted with vesting conditions ranging from three months to up to three years . Unvested RUAs are typically entitled to receive distributions during the restriction period. The Plan provides for accelerated vesting of the RUAs if there is a change in control related to the Partnership, the General Partner, or the general partner of the General Partner, or upon death or disability of the Plan participant. The fair value of each RUA is estimated on the grant date based on the Partnership’s exchange-listed closing price of the BUCs. The Partnership recognizes compensation expense for the RUAs on a straight-line basis over the requisite vesting period. The compensation expense for RUAs totaled approximately $ 580,000 and $ 571,000 for the three months ended September 30, 2022 and 2021, respectively. The compensation expense for RUAs totaled approximately $ 920,000 and $ 840,000 for the nine months ended September 30, 2022 and 2021, respectively. Compensation expense is reported within “General and administrative expenses” in the Partnership's condensed consolidated statements of operations. The following table summarizes the RUA activity for the nine months ended September 30, 2022 and for the year ended December 31, 2021 (all amounts are presented giving effect to the 1-for-3 Reverse Unit Split which became effective on April 1, 2022): Restricted Units Weighted average Unvested as of January 1, 2021 44,271 $ 14.94 Granted 88,775 19.47 Vested ( 55,523 ) 17.67 Unvested as of December 31, 2021 77,523 18.18 Granted 91,813 19.43 Forfeited ( 902 ) 18.48 Unvested as of September 30, 2022 168,434 $ 18.86 The unrecognized compensation expense related to unvested RUAs granted under the Plan was approximately $ 1,711,000 as of September 30, 2022. The remaining compensation expense is expected to be recognized over a weighted average period of 0.8 years. The total intrinsic value of unvested RUAs was approximately $ 2.9 million as of September 30, 2022.

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Transactions with Related Parties	21. Transactions with Related Parties The Partnership incurs costs for services and makes contractual payments to AFCA 2, AFCA 2’s general partner, and their affiliates. The costs are reported either as expenses or capitalized costs depending on the nature of each item. The following table summarizes transactions with related parties that are reflected in the Partnership's condensed consolidated financial statements for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Partnership administrative fees paid to AFCA 2 (1) $ 1,329,000 $ 1,003,000 $ 3,809,000 $ 2,956,000 Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities (2) 139,000 117,000 314,000 144,000 Referral fees paid to an affiliate (3) - 9,750 108,000 9,750 (1) AFCA 2 is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its MRBs, taxable MRBs, GILs, taxable GILs, property loans collateralized by real property, and other investments for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to AFCA 2. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s condensed consolidated statements of operations. (2) The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s condensed consolidated statements of operations. (3) The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2022, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as loan origination costs that are deferred and amortized as a yield adjustment to the related investment asset. AFCA 2 receives fees from the borrowers of the Partnership’s MRBs, taxable MRBs, GILs, taxable GILs and certain property loans for services provided to the borrower and based on the occurrence of certain investment transactions. These fees were paid by the borrowers and are not reported in the Partnership’s condensed consolidated financial statements. The following table summarizes transactions between borrowers and the Partnership’s affiliates for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Non-Partnership property administrative fees received by AFCA 2 (1) $ 9,000 $ 8,000 $ 26,000 $ 26,000 Investment/mortgage placement fees earned by AFCA 2 (2) 1,627,000 1,349,000 2,861,000 4,131,000 (1) AFCA 2 received administrative fees directly from the owners of certain properties financed by certain MRBs held by the Partnership. These administrative fees equal 0.45 % per annum of the outstanding principal balance of the MRBs. The disclosed amounts represent administrative fees received by AFCA 2 during the periods specified. (2) AFCA 2 received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities. Greystone Servicing Company LLC, an affiliate of the Partnership, has forward committed to purchase 11 of the Partnership’s GILs (Note 7), once certain conditions are met, at a price equal to the outstanding principal plus accrued interest. Greystone Servicing Company LLC is committed to then immediately sell the GILs to Freddie Mac pursuant to a financing commitment between Greystone Servicing Company LLC and Freddie Mac. Greystone Select, an affiliate of the Partnership, has provided a deficiency guaranty of the Partnership’s obligations under the Secured Credit Agreement (Note 14). The guaranty is enforceable if an event of default occurs, the administrative agent takes certain actions in relation to the collateral and the amounts due under the Secured Credit Agreement are not collected within a certain period of time after the commencement of such actions. No fees were paid to Greystone Select related to the deficiency guaranty agreement. The Partnership reported receivables due from unconsolidated entities of approximately $ 311,000 and $ 149,000 as of September 30, 2022 and December 31, 2021, respectively. These amounts are reported within “Other assets” in the Partnership's condensed consolidated balance sheets. The Partnership had outstanding liabilities due to related parties totaling approximately $ 977,000 and $ 417,000 as of September 30, 2022 and December 31, 2021, respectively. These amounts are reported within “Accounts payable, accrued expenses and other liabilities” in the Partnership's condensed consolidated balance sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements [Abstract]
Fair Value of Financial Instruments	22. Fair Value of Financial Instruments Current accounting guidance on fair value measurements establishes a framework for measuring fair value and provides for expanded disclosures about fair value measurements. The guidance: • Defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date; and • Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. To increase consistency and comparability in fair value measurements and related disclosures, the fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of the hierarchy are defined as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 inputs are unobservable inputs for assets or liabilities. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for the assets and liabilities measured at fair value on a recurring basis. Investments in MRBs, Taxable MRBs and Bond Purchase Commitments The fair value of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of September 30, 2022 and December 31, 2021, is based upon prices obtained from third-party pricing services, which are estimates of market prices. There is no active trading market for these securities, and price quotes for the securities are not available. The valuation methodology of the Partnership’s third-party pricing services incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of each security as well as other quantitative and qualitative characteristics including, but not limited to, market interest rates, illiquidity, legal structure of the borrower, collateral, seniority to other obligations, operating results of the underlying property, geographic location, and property quality. These characteristics are used to estimate an effective yield for each security. The security fair value is estimated using a discounted cash flow and yield to maturity or call analysis by applying the effective yield to contractual cash flows. Significant increases (decreases) in the effective yield would have resulted in a significantly lower (higher) fair value estimate. Changes in fair value due to an increase or decrease in the effective yield do not impact the Partnership’s cash flows. The Partnership evaluates pricing data received from the third-party pricing services by evaluating consistency with information from either the third-party pricing services or public sources. The fair value estimates of the MRBs, taxable MRBs and bond purchase commitments are based largely on unobservable inputs believed to be used by market participants and requires the use of judgment on the part of the third-party pricing service and the Partnership. Due to the judgments involved, the fair value measurements of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments are categorized as Level 3 assets. The range of effective yields and weighted average effective yields of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of September 30, 2022 and December 31, 2021 are as follows: Range of Effective Yields Weighted Average Effective Yields (1) Security Type September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Mortgage revenue bonds 3.2 % - 21.0 % 0.9 % - 19.1 % 5.5 % 3.1 % Taxable mortgage revenue bonds 6.1 % - 11.2 % 4.0 % - 8.1 % 6.8 % 5.9 % Bond purchase commitments 5.2 % 3.2 % - 3.3 % 5.2 % 3.2 % (1) Weighted by the total principal outstanding of all the respective securities as of the reporting date . Derivative Financial Instruments The effect of the Partnership’s interest rate swap agreements is to change a variable rate debt obligation to a fixed rate for that portion of the debt equal to the notional amount of the agreement. The Partnership uses a third-party pricing service that incorporates commonly used market pricing methods. The fair value is based on a model that considers observable indices and observable market trades for similar arrangements and therefore the interest rate swaps are categorized as Level 2 assets or liabilities. The effect of the Partnership’s interest rate cap is to set a cap, or upper limit, subject to performance of the counterparty, on the base rate of interest paid on the Partnership’s variable rate debt financings equal to the notional amount of the derivative agreement. The effect of the Partnership’s interest rate swaps is to change a variable rate debt obligation to a fixed rate for that portion of the debt equal to the notional amount of the derivative agreement. The inputs in the interest rate cap and interest rate swap agreements valuation model include three-month LIBOR rates, unobservable adjustments to account for the SIFMA, as well as any recent interest rate cap trades with similar terms. The fair value is based on a model with inputs that are not observable and therefore the interest rate cap is categorized as a Level 3 asset. The effect of the Partnership’s total return swaps is to lower the net interest rate related to the Partnership’s Secured Notes equal to the notional amount of the derivative instruments. The inputs in the total return swap valuation model include changes in the value of the Secured Notes and the associated changes in value of the underlying assets securing the Secured Notes, accrued and unpaid interest, and any potential gain share amounts. The fair value is based on a model with inputs that are not observable and therefore the total return swaps are categorized as Level 3 assets or liabilities. Assets measured at fair value on a recurring basis as of September 30, 2022 are summarized as follows: Fair Value Measurements as of September 30, 2022 Description Assets and Liabilities Quoted Prices in Significant Other Significant Assets and Liabilities Mortgage revenue bonds, held in trust $ 675,905,519 $ - $ - $ 675,905,519 Mortgage revenue bonds 19,163,911 - - 19,163,911 Taxable mortgage revenue bonds (reported within other assets) 13,528,034 - - 13,528,034 Derivative financial instruments (reported within other assets) 6,855,221 - 6,471,662 383,559 Bond purchase commitments (reported within other liabilities) ( 82,911 ) - - ( 82,911 ) Total Assets and Liabilities at Fair Value, net $ 715,369,774 $ - $ 6,471,662 $ 708,898,112 The following tables summarize the activity related to Level 3 assets for the three and nine months ended September 30, 2022: For the Three Months Ended September 30, 2022 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Derivative Total Beginning Balance July 1, 2022 $ 727,278,997 $ 8,953 $ 11,457,256 $ 398,280 $ 739,143,486 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 1,659,492 - ( 4,860 ) 1,298,340 2,952,972 Included in other comprehensive income ( 22,467,010 ) ( 91,864 ) ( 221,686 ) - ( 22,780,560 ) Purchases 1,623,437 - 2,300,000 - 3,923,437 Settlements ( 13,025,486 ) - ( 2,676 ) ( 1,313,061 ) ( 14,341,223 ) Ending Balance September 30, 2022 $ 695,069,430 $ ( 82,911 ) $ 13,528,034 $ 383,559 $ 708,898,112 Total amount of gains (losses) for the $ 17,345 $ - $ - $ ( 14,509 ) $ 2,836 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Nine Months Ended September 30, 2022 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Derivative Total Beginning Balance January 1, 2022 $ 793,509,844 $ 964,404 $ 3,428,443 $ 343,418 $ 798,246,109 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 1,877,774 - ( 14,932 ) 4,497,078 6,359,920 Included in other comprehensive income ( 89,766,975 ) ( 1,047,315 ) ( 553,379 ) - ( 91,367,669 ) Purchases 91,567,687 - 10,675,750 - 102,243,437 Settlements ( 101,258,367 ) - ( 7,848 ) ( 4,456,937 ) ( 105,723,152 ) Other (2) ( 860,533 ) - - - ( 860,533 ) Ending Balance September 30, 2022 $ 695,069,430 $ ( 82,911 ) $ 13,528,034 $ 383,559 $ 708,898,112 Total amount of gains for the $ 39,968 $ - $ - $ 107,617 $ 147,585 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. (2) The other line is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan (Notes 6 and 10). Assets measured at fair value on a recurring basis as of December 31, 2021 are summarized as follows: Fair Value Measurements as of December 31, 2021 Description Assets Quoted Prices in Significant Other Significant Assets Mortgage revenue bonds, held in trust $ 750,934,848 $ - $ - $ 750,934,848 Mortgage revenue bonds 42,574,996 - - 42,574,996 Bond purchase commitments (reported within other assets) 964,404 964,404 Taxable mortgage revenue bonds (reported within other assets) 3,428,443 - - 3,428,443 Derivative instruments (reported within other assets) 343,418 - - 343,418 Total Assets at Fair Value, net $ 798,246,109 $ - $ - $ 798,246,109 The following tables summarize the activity related to Level 3 assets and liabilities for the three and nine months ended September 30, 2021: For the Three Months Ended September 30, 2021 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Interest Rate Total Beginning Balance July 1, 2021 $ 777,990,096 $ 392,515 $ 1,462,862 $ 321,372 $ 780,166,845 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 34,331 - - 1,751,136 1,785,467 Included in other comprehensive income ( 4,561,683 ) 8,708 ( 24,463 ) - ( 4,577,438 ) Purchases 3,995,000 - 1,000,000 - 4,995,000 Settlements ( 33,819,427 ) - ( 2,445 ) ( 1,760,707 ) ( 35,582,579 ) Ending Balance September 30, 2021 $ 743,638,317 $ 401,223 $ 2,435,954 $ 311,801 $ 746,787,295 Total amount of losses for the $ - $ - $ - $ ( 9,261 ) $ ( 9,261 ) (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Nine Months Ended September 30, 2021 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Interest Rate Total Beginning Balance January 1, 2021 $ 794,432,485 $ 431,879 $ 1,510,437 $ 321,503 $ 796,696,304 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 103,292 - - 5,326,329 5,429,621 Included in earnings (provision for credit loss) ( 900,080 ) - - - ( 900,080 ) Included in other comprehensive income ( 18,884,461 ) ( 30,656 ) ( 67,309 ) - ( 18,982,426 ) Purchases 12,946,500 - 1,000,000 - 13,946,500 Settlements ( 44,059,419 ) - ( 7,174 ) ( 5,336,031 ) ( 49,402,624 ) Ending Balance September 30, 2021 $ 743,638,317 $ 401,223 $ 2,435,954 $ 311,801 $ 746,787,295 Total amount of losses for the $ ( 900,080 ) $ - $ - $ ( 11,304 ) $ ( 911,384 ) (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. Total gains and losses included in earnings for the derivative financial instruments are reported within “Interest expense” in the Partnership's condensed consolidated statements of operations. As of September 30, 2022 and December 31, 2021, the Partnership utilized a third-party pricing service to determine the fair value of the Partnership’s GILs, taxable GILs, and construction financing property loans that share a first mortgage lien with the GILs, which is an estimate of their market price. The valuation methodology of the Partnership’s third-party pricing service incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of the GILs and property loans as well as other quantitative and qualitative characteristics including, but not limited to, the progress of construction and operations of the underlying properties, and the financial capacity of guarantors. The valuation methodology also considers the probability that conditions for the execution of forward commitments to purchase the GILs will be met. Due to the judgments involved, the fair value measurements of the Partnership’s GILs, taxable GIL, and construction financing property loans are categorized as Level 3 assets. The fair value of the GILs, taxable GIL, and construction financing property loans approximated amortized cost as of September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, the Partnership utilized a third-party pricing service to determine the fair value of the Partnership’s financial liabilities, which are estimates of market prices. The valuation methodology of the Partnership’s third-party pricing service incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of each financial liability as well as other quantitative and qualitative characteristics including, but not limited to, market interest rates, legal structure, seniority to other obligations, operating results of the underlying assets, and asset quality. The financial liability values are then estimated using a discounted cash flow and yield to maturity or call analysis. The Partnership evaluates pricing data received from the third-party pricing service, including consideration of current market interest rates, quantitative and qualitative characteristics of the underlying collateral, and other information from either the third-party pricing service or public sources. The fair value estimates of these financial liabilities are based largely on unobservable inputs believed to be used by market participants and require the use of judgment on the part of the third-party pricing service and the Partnership. Due to the judgments involved, the fair value measurements of the Partnership’s financial liabilities are categorized as Level 3 liabilities. The TEBS financings are credit enhanced by Freddie Mac. The TOB trust financings are credit enhanced by either Mizuho or Barclays. The table below summarizes the fair value of the Partnership’s financial liabilities as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Financial Liabilities: Debt financing $ 962,615,366 $ 952,670,119 $ 820,078,714 $ 854,428,834 Secured lines of credit 30,942,000 30,942,000 45,714,000 45,714,000 Mortgages payable and other secured financing 26,230,855 26,231,893 26,824,543 26,825,840

Segments

Segments	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segments	23. Segments As of September 30, 2022, the Partnership had four reportable segments: (1) Affordable Multifamily MRB Investments, (2) Seniors and Skilled Nursing MRB Investments, (3) MF Properties, and (4) Market-Rate Joint Venture Investments. The Partnership presented a fifth reportable segment, Public Housing Capital Fund Trusts, in its quarterly and annual filings during 2021 and prior. All activity in the Public Housing Capital Fund Trusts segment ceased with the sale of the Public Housing Capital Trust Fund investments in January 2020 and information is not presented for this segment as it had no operations during the periods presented. The Partnership separately reports its consolidation and elimination information because it does not allocate certain items to the segments. Affordable Multifamily MRB Investments Segment The Affordable Multifamily MRB Investments segment consists of the Partnership’s portfolio of MRBs, GILs, and related property loans that have been issued to provide construction and/or permanent financing for multifamily residential and commercial properties in their market areas. Such MRBs and GILs are held as investments, and the related property loans, net of loan loss allowances, are reported as such in the Partnership's condensed consolidated balance sheets. As of September 30, 2022, the Partnership reported 73 MRBs and 13 GILs in this segment. As of September 30, 2022, the multifamily residential properties securing the MRBs and GILs contain a total of 10,337 and 2,419 multifamily rental units, respectively. In addition, one MRB (Provision Center 2014-1) is collateralized by commercial real estate. All “General and administrative expenses” on the Partnership's condensed consolidated statements of operations are reported within this segment. Seniors and Skilled Nursing MRB Investments Segment The Seniors and Skilled Nursing MRB Investments segment consists of an MRB and a property loan that have been issued to provide acquisition, construction and/or permanent financing for seniors housing and skilled nursing properties. The property loan was redeemed in September 2022. Seniors housing consists of a combination of the independent living, assisted living and memory care units. As of September 30, 2022, the property securing the MRB contains a total of 154 seniors housing units. Market-Rate Joint Venture Investments Segment The Market-Rate Joint Venture Investments segment consists of the operations of ATAX Vantage Holdings, LLC, which makes noncontrolling equity investments in unconsolidated entities for the construction, stabilization, and ultimate sale of market-rate multifamily properties (Note 9). The Market-Rate Joint Venture Investments segment also includes the consolidated VIE of Vantage at San Marcos (Note 5). MF Properties Segment The MF Properties segment consists primarily of multifamily and student housing residential properties held by the Partnership (Note 8). During the time the Partnership holds an interest in an MF Property, any excess cash flow will be available for distribution to the Partnership. As of September 30, 2022, the Partnership owned two MF Properties containing a total of 859 rental uni Income tax expense for the Greens Hold Co is reported within this segment. The following table details certain financial information for the Partnership’s reportable segments for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Total revenues Affordable Multifamily MRB Investments $ 18,423,127 $ 12,795,214 $ 45,443,505 $ 34,624,484 Seniors and Skilled Nursing MRB Investments 194,296 - 664,579 - Market-Rate Joint Venture Investments 2,072,781 3,074,909 7,149,916 8,556,926 MF Properties 1,914,200 1,811,778 5,785,742 5,294,475 Total revenues $ 22,604,404 $ 17,681,901 $ 59,043,742 $ 48,475,885 Interest expense Affordable Multifamily MRB Investments $ 7,530,723 $ 5,186,465 $ 17,309,510 $ 15,166,356 Seniors and Skilled Nursing MRB Investments 5,750 - 5,750 - Market-Rate Joint Venture Investments 226,247 193,876 619,928 234,375 MF Properties 273,262 283,111 814,891 847,292 Total interest expense $ 8,035,982 $ 5,663,452 $ 18,750,079 $ 16,248,023 Depreciation expense Affordable Multifamily MRB Investments $ 5,962 $ 5,912 $ 17,885 $ 17,534 Seniors and Skilled Nursing MRB Investments - - - - Market-Rate Joint Venture Investments - - - - MF Properties 682,526 675,013 2,038,627 2,031,735 Total depreciation expense $ 688,488 $ 680,925 $ 2,056,512 $ 2,049,269 Net income (loss) Affordable Multifamily MRB Investments $ 6,375,471 $ 3,453,537 $ 16,099,041 $ 7,293,774 Seniors and Skilled Nursing MRB Investments 187,921 - 656,954 - Market-Rate Joint Venture Investments 12,423,255 9,836,133 46,185,380 23,546,743 MF Properties ( 470,054 ) ( 301,286 ) ( 554,083 ) ( 594,599 ) Net income $ 18,516,593 $ 12,988,384 $ 62,387,292 $ 30,245,918 The following table details total assets for the Partnership’s reportable segments as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Total assets Affordable Multifamily MRB Investments $ 1,388,462,019 $ 1,304,626,248 Seniors and Skilled Nursing MRB Investments ( 903,056 ) 13,533,020 Market-Rate Joint Venture Investments 107,181,273 112,052,513 MF Properties 61,772,595 66,501,994 Consolidation/eliminations ( 106,425,836 ) ( 110,804,292 ) Total assets $ 1,450,086,995 $ 1,385,909,483

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	24. Subsequent Events In October 2022, the Partnership issued 1,000,000 Series A-1 Preferred Units to a financial institution in exchange for 1,000,000 outstanding Series A Preferred Units held by that institution. There were no net proceeds to the Partnership as a result of the exchange transaction. These Series A-1 Preferred Units were issued in a registered offering pursuant to a registration statement on Form S-4, which was declared effective by the Commission on July 6, 2021, and subsequently amended pursuant to a Post-Effective Amendment to the Form S-4, which was declared effective by the Commission on April 13, 2022. In October 2022, the Partnership entered into three TOB Trust financing arrangements with Barclays to securitize the Poppy Grove I, Poppy Grove II and Poppy Grove III GILs. The TOB Trust financings allow for additional borrowings as the Partnership makes additional advances for the related funding commitments. The following table summarizes the initial terms of the TOB Trust financings: TOB Trusts Securitization TOB Stated Maturity Reset SIFMA Based Rates Facility Fees Interest Rate Poppy Grove I $ 5,397,000 October 2023 Weekly 2.60 % 1.25 % 3.85 % Poppy Grove II 2,833,000 October 2023 Weekly 2.60 % 1.25 % 3.85 % Poppy Grove III 5,880,000 October 2023 Weekly 2.60 % 1.25 % 3.85 % Total TOB Trust Financing $ 14,110,000 In October 2022, the Partnership deposited the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs into the existing Trust 2021-XF2953 TOB trust financing and received additional debt financing proceeds of approximately $ 2.4 million, which were used to repay principal on the Acquisition LOC. In October 2022, the Partnership entered into an interest rate swap agreement to mitigate interest rate risk associated with the Poppy Grove I, Poppy Grove II, and Poppy Grove III variable rate TOB trust financings. The Partnership is required to post collateral equal to 1 % of the maximum notional amount of the interest rate swap. The Partnership posted collateral of approximately $ 1.0 million upon closing of the interest rate swap agreement. No fees were paid upon closing of the interest rate swaps. The following table summarizes the terms of the interest rate swap agreement: Trade Date Initial Notional Amount (1) Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty October 2022 34,436,088 4/1/2023 4/1/2025 3.92 % SOFR TOB Trusts Mizuho Capital Markets (1) The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million. In October 2022, the Gateway Village and Lynnhaven Apartments MRBs were redeemed at prices equal to outstanding principal plus accrued interest. In October 2022, the Partnership executed a $ 16.0 million equity commitment to fund construction of the Freestone at Greeley, 306-unit market-rate multifamily property in Greeley, CO.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Consolidation	Consolidation The “Partnership,” as used herein, includes America First Multifamily Investors, L.P., its consolidated subsidiaries and consolidated variable interest entities (Note 5). All intercompany transactions are eliminated. The consolidated subsidiaries of the Partnership for the periods presented consist of: • ATAX TEBS I, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M24 Tax Exempt Bond Securitization (“TEBS”) Financing (“M24 TEBS Financing”) with the Federal Home Loan Mortgage Corporation (“Freddie Mac”); • ATAX TEBS II, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M31 TEBS Financing” with Freddie Mac; • ATAX TEBS III, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M33 TEBS Financing” with Freddie Mac; • ATAX TEBS IV, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M45 TEBS Financing” with Freddie Mac; • ATAX TEBS Holdings, LLC, a wholly owned subsidiary of the Partnership, which has issued secured notes (“the Secured Notes”) to Mizuho Capital Markets LLC (“Mizuho”); • ATAX Vantage Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to loan money or provide equity for the development of market-rate multifamily properties; • One wholly owned corporation (the "Greens Hold Co”), which owns 100 % of The 50/50 MF Property, a real estate asset, and certain property loans; and • Lindo Paseo LLC, a wholly owned limited liability company, which owns 100 % of the Suites on Paseo MF Property. The Partnership also consolidates variable interest entities (“VIEs”) in which the Partnership is deemed to be the primary beneficiary.
Impairment of Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds	Impairment of Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds The Partnership accounts for its investments in MRBs and taxable MRBs under the accounting guidance for certain investments in debt and equity securities. The Partnership's investments in these instruments are classified as available-for-sale debt securities and are reported at their estimated fair value. The net unrealized gains or losses on these investments are reflected on the Partnership's condensed consolidated statements of comprehensive income. Unrealized gains and losses do not affect the cash flow of the bonds, distributions to Unitholders, or the characterization of the interest income of the financial obligation of the underlying collateral. See Note 22 for a description of the Partnership's methodology for estimating the fair value of MRBs and taxable MRBs. The Partnership periodically reviews its MRBs and taxable MRBs for impairment. The Partnership evaluates whether unrealized losses are considered other-than-temporary impairments based on various factors including, but not necessarily limited to, the following: • The duration and severity of the decline in fair value; • The Partnership’s intent to hold and the likelihood of it being required to sell the security before its value recovers; • Adverse conditions specifically related to the security, its collateral, or both; • Volatility of the fair value of the security; • The likelihood of the borrower being able to make scheduled interest and principal payments; • Failure of the issuer to make scheduled interest or principal payments; and • Recoveries or additional declines in fair value after the balance sheet date. While the Partnership evaluates all available information, it focuses specifically on whether the security’s estimated fair value is below amortized cost. If a MRB’s estimated fair value is below amortized cost, and the Partnership has the intent to sell or may be required to sell the MRB prior to the time that its value recovers or until maturity, the Partnership will record an other-than-temporary impairment through earnings equal to the difference between the MRB’s carrying value and its fair value. If the Partnership does not expect to sell an other-than-temporarily impaired MRB, only the portion of the other-than-temporary impairment related to credit losses is recognized through earnings as a provision for credit loss, with the remainder recognized as a component of other comprehensive income. In determining the provision for credit loss, the Partnership compares the present value of cash flows expected to be collected to the MRB’s amortized cost basis. The recognition of other-than-temporary impairment, provision for credit loss, and the potential impairment analysis are subject to a considerable degree of judgment, the results of which, when applied under different conditions or assumptions, could have a material impact to the condensed consolidated financial statements. If the Partnership experiences deterioration in the values of its MRB portfolio, the Partnership may incur other-than-temporary impairments or provision for credit losses that could negatively impact the Partnership’s financial condition, cash flows, and reported earnings.
Estimates and Assumptions	Estimates and assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Partnership to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such SEC rules and regulations, although the Partnership believes that the disclosures are adequate to make the information presented not misleading. The Partnership’s condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2021. These condensed consolidated financial statements and notes have been prepared consistently with the 2021 Form 10-K. In the opinion of management, all adjustments (consisting of normal and recurring accruals) necessary to present fairly the Partnership’s financial position as of September 30, 2022, and the results of operations for the interim periods presented, have been made. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying condensed consolidated balance sheet as of December 31, 2021 was derived from the audited annual consolidated financial statements but does not contain all the footnote disclosures from the annual consolidated financial statements.
Risks And Uncertainties	Risks and Uncertainties Through November 2, 2022, the Federal Reserve announced six increases in short-term interest rates totaling 375 basis points . The Federal Reserve has signaled further future short-term interest rate increases to combat inflation in the broader economy. In addition, geopolitical conflicts continue to impact the general global economic environment. These factors have caused volatility in the fixed income markets, which has impacted the value of some of the Partnership’s investment assets, particularly fixed-rate MRBs and taxable MRBs. In addition, increases in short-term interest rates will generally result in increases in the interest cost associated with the Partnership’s variable rate debt financing arrangements and for construction debt of properties underlying our investments in unconsolidated entities. The extent to which general economic, geopolitical, and financial conditions will impact the Partnership’s financial condition or results of operations in the future is uncertain and actual results and outcomes could differ from current estimates. The current inflationary environment in the United States may increase operating expenses at properties securing the Partnership’s investments and general operations. Regarding investments, such increases may reduce net operating results of the related properties and result in lower debt service coverage or higher than anticipated capitalized interest requirements for properties under construction. Such occurrences may negatively impact the value of the Partnership’s investments. Higher general and administrative expenses and real estate operating expenses may adversely affect the Partnership’s operating results, including a reduction in net income.
Beneficial Unit Certificates ("BUCs")	Beneficial Unit Certificates (“BUCs”) The Partnership has issued BUCs representing assigned limited partnership interests to investors. Costs related to the issuance of BUCs are recorded as a reduction to partners’ capital when issued. On April 1, 2022, the Partnership effected a one-for-three reverse unit split (“Reverse Unit Split”) of its outstanding BUCs. As a result of the Reverse Unit Split, holders of BUCs received one BUC for every three BUCs owned at the close of business on April 1, 2022. All fractional BUCs created by the Reverse Unit Split were rounded to the nearest whole BUC, with any fraction equal to or above 0.5 BUC rounded up to the next higher BUC, as provided by the Partnership Agreement. Immediately prior to the Reverse Unit Split, there were 66,049,908 BUCs issued and outstanding, and immediately after the Reverse Unit Split the number of issued and outstanding BUCs decreased to 22,017,915 . In connection with the Reverse Unit Split, the CUSIP number for the BUCs changed to 02364V 206. The BUCs continue to trade on the Nasdaq Global Select Market under the trading symbol “ATAX.” On September 14, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $ 0.20 per BUC (the “BUCs Distribution”). The BUCs Distribution was paid at a ratio of 0.01044 BUCs for each issued and outstanding BUC as of the record date of September 30, 2022 , which represents an amount per BUC based on the closing price of the BUCs on the Nasdaq Stock Market LLC on September 13, 2022. The BUCs Distribution was completed on October 31, 2022 . There were no fractional BUCs issued in connection with the BUCs Distribution. All fractional BUCs resulting from the BUCs Distribution received cash for such fraction based on the market value of the BUCs on the record date. The one-for- three Reverse Unit Split and the BUCs Distribution have been applied retroactively to all net income per BUC, distributions per BUC and similar per BUC disclosures for all periods indicated in the Partnership’s condensed consolidated financial statements.
Restricted Unit Awards ("RUA" or "RUAs")	Restricted Unit Awards (“RUA” or “RUAs”) The Partnership’s 2015 Equity Incentive Plan (the “Plan”), as approved by the BUC holders in September 2015, permits the grant of RUAs and other awards to the employees of Greystone Manager, or any affiliate, who performs services for Greystone Manager, the Partnership or an affiliate, and members of Greystone Manager’s Board of Managers. The Plan permits total grants of RUAs of up to 1.0 million BUCs, which reflects adjustments made to the number of BUCs that may be granted under the Plan as a result of the Reverse Unit Split. RUAs have historically been granted with vesting conditions ranging from three months to up to three years. RUAs typically provide for the payment of distributions during the restriction period. The RUAs provide for accelerated vesting if there is a change in control, or upon death or disability of the participant. The Partnership accounts for forfeitures as they occur. Outstanding RUAs were adjusted on a one-for-three basis in conjunction with the Reverse Unit Split effected on April 1, 2022. The number of outstanding RUAs was not impacted by the BUCs Distribution as holders of RUAs did not participate in the BUCs Distribution, but rather received cash in satisfaction of the previously announced supplemental distribution in the amount of $ 0.20 per RUA. The fair value of each RUA is estimated on the grant date based on the Partnership’s exchange-listed closing price of the BUCs. The Partnership recognizes compensation expense for the RUAs on a straight-line basis over the requisite vesting period. The Partnership accounts for modifications to RUAs as they occur, if the fair value of the RUAs change, there are changes to vesting conditions or the awards no longer qualify for equity classification.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments – Credit Losses (Topic 326).” ASU 2016-13 enhances the methodology of measuring expected credit losses for financial assets to include the use of reasonable and supportable forward-looking information to better estimate credit losses. In general, the allowance for credit losses is expected to increase when changing from an incurred loss to expected loss methodology. ASU 2016-13 also includes changes to the impairment model for available-for-sale debt securities such as the Partnership’s MRBs and taxable MRBs. ASU 2016-13 is effective for the Partnership on January 1, 2023 and is to be adopted through a cumulative-effect adjustment to retained earnings as of that date. The Partnership regularly assesses its assets that are within the scope of ASU 2016-13 and has determined that the GILs, taxable GIL, property loans, receivables reported within other assets, financial guaranties, financial commitments, and interest receivable related to such assets, are within the scope of ASU 2016-13. The Partnership anticipates utilizing a loss rate model based on the weighted average remaining maturity of items within the scope of ASU 2016-13. The Partnership continues to develop and refine data collection processes, assessment procedures and internal controls that will be required when ASU 2016-13 becomes effective, and to evaluate the impact to the Partnership's condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform—Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides optional guidance for a limited period meant to ease the potential burden in accounting for, or recognizing the effects of, reform to LIBOR and certain other reference rates. The standard is effective for all entities from March 12, 2020 through December 31, 2022. ASU 2020-04 is only applicable to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform, and that were entered into or evaluated prior to January 1, 2023. The Partnership has evaluated its population of instruments indexed, either directly or indirectly, to LIBOR an d does not currently expect the adoption of ASU 2020-04 to have a material impact on the Partnership's condensed consolidated financial statements.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2022
Variable Interest Entities [Abstract]
Variable Interest Entities Property Asset Carrying Value and Maximum Exposure	The following table summarizes the Partnership’s maximum exposure to loss associated with its variable interests as of September 30, 2022 and December 31, 2021: Maximum Exposure to Loss September 30, 2022 December 31, 2021 Mortgage revenue bonds $ 48,557,708 $ 51,045,000 Taxable mortgage revenue bonds 2,000,000 2,000,000 Governmental issuer loans 281,275,255 184,767,450 Taxable governmental issuer loans 4,000,000 1,000,000 Property loans 122,563,896 47,274,576 Investments in unconsolidated entities 103,103,246 107,793,522 $ 561,500,105 $ 393,880,548

Mortgage Revenue Bonds (Tables)

Mortgage Revenue Bonds (Tables)	9 Months Ended
	Sep. 30, 2022
Investments In Mortgage Revenue Bonds [Abstract]
Schedule of Investments in MRBs	The Partnership had the following investments in MRBs as of September 30, 2022 and December 31, 2021: September 30, 2022 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,898,954 $ 389,990 $ - $ 10,288,944 Glenview Apartments - Series A (3) CA 4,386,923 221,254 - 4,608,177 Harmony Court Bakersfield - Series A (4) CA 3,609,296 118,091 - 3,727,387 Harmony Terrace - Series A (4) CA 6,682,143 329,629 - 7,011,772 Harden Ranch - Series A (2) CA 6,472,099 452,521 - 6,924,620 Las Palmas II - Series A (4) CA 1,637,465 70,328 - 1,707,793 Lutheran Gardens (6) CA 10,352,000 63,494 - 10,415,494 Montclair Apartments - Series A (3) CA 2,376,641 130,702 - 2,507,343 Montecito at Williams Ranch Apartments - Series A (6) CA 7,522,733 627,722 - 8,150,455 Montevista - Series A (6) CA 6,667,855 565,132 - 7,232,987 Ocotillo Springs - Series A (6), (8) CA 11,090,000 - ( 487,801 ) 10,602,199 Residency at the Entrepreneur J-1 (6) CA 9,088,500 172,857 - 9,261,357 Residency at the Entrepreneur J-2 (6) CA 7,500,000 217,798 - 7,717,798 Residency at the Entrepreneur J-3 (7) CA - 656,481 - 656,481 Residency at the Mayer - Series A (6) CA 25,069,208 - - 25,069,208 San Vicente - Series A (4) CA 3,376,366 111,397 - 3,487,763 Santa Fe Apartments - Series A (3) CA 2,879,212 145,213 - 3,024,425 Seasons at Simi Valley - Series A (4) CA 4,150,500 384,743 - 4,535,243 Seasons Lakewood - Series A (4) CA 7,117,935 351,126 - 7,469,061 Seasons San Juan Capistrano - Series A (4) CA 11,984,278 591,182 - 12,575,460 Summerhill - Series A (4) CA 6,215,150 80,688 - 6,295,838 Sycamore Walk - Series A (4) CA 3,440,619 130,469 - 3,571,088 The Village at Madera - Series A (4) CA 2,985,168 137,695 - 3,122,863 Tyler Park Townhomes - Series A (2) CA 5,635,996 231,647 - 5,867,643 Vineyard Gardens - Series A (6) CA 3,916,109 312,891 - 4,229,000 Westside Village Market - Series A (2) CA 3,683,114 193,646 - 3,876,760 Brookstone (1) IL 7,298,854 1,232,165 - 8,531,019 Copper Gate Apartments (2) IN 4,900,000 135,868 - 5,035,868 Renaissance - Series A (3) LA 10,622,933 447,502 - 11,070,435 Live 929 Apartments - Series 2022A (6) MD 58,050,821 798,344 - 58,849,165 Jackson Manor Apartments (6) MS 6,900,000 - - 6,900,000 Greens Property - Series A (2) NC 7,629,000 536 - 7,629,536 Silver Moon - Series A (3) NM 7,575,818 609,702 - 8,185,520 Village at Avalon (5) NM 15,974,957 863,641 - 16,838,598 Columbia Gardens (4) SC 12,588,742 428,517 - 13,017,259 Companion at Thornhill Apartments (4) SC 10,821,542 448,643 - 11,270,185 The Palms at Premier Park Apartments (2) SC 18,200,634 643,425 - 18,844,059 Village at River's Edge (4) SC 9,669,777 44,189 - 9,713,966 Willow Run (4) SC 12,414,487 477,489 - 12,891,976 Arbors at Hickory Ridge (2) TN 10,633,673 1,699,911 - 12,333,584 Avistar at Copperfield - Series A (6) TX 13,569,835 481,953 - 14,051,788 Avistar at the Crest - Series A (2) TX 8,928,536 591,677 - 9,520,213 Avistar at the Oaks - Series A (2) TX 7,221,895 432,723 - 7,654,618 Avistar at the Parkway - Series A (3) TX 12,468,173 682,039 - 13,150,212 Avistar at Wilcrest - Series A (6) TX 5,142,693 4,874 - 5,147,567 Avistar at Wood Hollow - Series A (6) TX 39,048,349 1,386,861 - 40,435,210 Avistar in 09 - Series A (2) TX 6,235,826 295,681 - 6,531,507 Avistar on the Boulevard - Series A (2) TX 15,210,725 824,271 - 16,034,996 Avistar on the Hills - Series A (2) TX 4,944,271 327,489 - 5,271,760 Bruton Apartments (4), (8) TX 17,419,883 - ( 533,140 ) 16,886,743 Concord at Gulfgate - Series A (4) TX 18,456,524 1,239,586 - 19,696,110 Concord at Little York - Series A (4) TX 12,929,668 909,327 - 13,838,995 Concord at Williamcrest - Series A (4) TX 20,029,441 1,156,304 - 21,185,745 Crossing at 1415 - Series A (4) TX 7,191,959 353,742 - 7,545,701 Decatur Angle (4), (8) TX 21,919,796 - ( 834,292 ) 21,085,504 Esperanza at Palo Alto (4) TX 18,955,815 1,118,258 - 20,074,073 Heights at 515 - Series A (4) TX 6,584,362 343,057 - 6,927,419 Heritage Square - Series A (3) TX 10,358,615 432,270 - 10,790,885 Oaks at Georgetown - Series A (4) TX 11,940,699 311,811 - 12,252,510 Runnymede (1) TX 9,605,000 439 - 9,605,439 Southpark (1) TX 11,419,072 1,297,785 - 12,716,857 15 West Apartments (4) WA 9,474,154 979,184 - 10,453,338 Mortgage revenue bonds held in trust $ 650,074,793 $ 27,685,959 $ ( 1,855,233 ) $ 675,905,519 (1) MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 (2) MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 (3) MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 (4) MRBs owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 (5) MRB held by Morgan Stanley in a debt financing transaction, Note 15 (6) MRBs held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 (7) The Partnership has an MRB funding commitment of $ 26.1 million as of September 30, 2022. The unfunded MRB commitment is accounted for as an available-for-sale security and reported at fair value. The reported unrealized loss is based on the fair value of the funding commitment outstanding as of September 30, 2022. The Partnership will partially fund the commitment with proceeds from a debt financing transaction with Mizuho Capital Markets, LLC. (8) As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. September 30, 2022 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value CCBA Senior Garden Apartments (1) CA $ 3,801,312 $ - $ ( 209,129 ) $ 3,592,183 Solano Vista - Series A CA 2,635,798 152,712 - 2,788,510 Meadow Valley (2) MI 1,833,437 - ( 2,632,998 ) ( 799,561 ) Gateway Village NC 2,590,992 - - 2,590,992 Greens Property - Series B NC 916,502 114 - 916,616 Lynnhaven Apartments NC 3,438,048 - - 3,438,048 Provision Center 2014-1 TN 4,296,204 - - 4,296,204 Avistar at the Crest - Series B TX 726,263 28,394 - 754,657 Avistar at the Oaks - Series B TX 531,895 14,208 - 546,103 Avistar at the Parkway - Series B TX 123,287 20,319 - 143,606 Avistar in 09 - Series B TX 438,765 11,720 - 450,485 Avistar on the Boulevard - Series B TX 431,548 14,520 - 446,068 Mortgage revenue bonds held by the Partnership $ 21,764,051 $ 241,987 $ ( 2,842,127 ) $ 19,163,911 (1) As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. (2) The Partnership has a remaining MRB funding commitment of $ 42.3 million as of September 30, 2022. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining $ 42.3 million funding commitment outstanding as of September 30, 2022 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not other-than-temporary. December 31, 2021 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,970,209 $ 2,060,480 $ - $ 12,030,689 Glenview Apartments - Series A (3) CA 4,429,350 863,955 - 5,293,305 Harmony Court Bakersfield - Series A (4) CA 3,635,277 720,308 - 4,355,585 Harmony Terrace - Series A (4) CA 6,730,004 1,425,757 - 8,155,761 Harden Ranch - Series A (2) CA 6,538,111 1,285,747 - 7,823,858 Las Palmas II - Series A (4) CA 1,649,370 332,704 - 1,982,074 Montclair Apartments - Series A (3) CA 2,399,626 446,912 - 2,846,538 Montecito at Williams Ranch Apartments - Series A (6) CA 7,568,334 1,983,454 - 9,551,788 Montevista - Series A (6) CA 6,701,776 2,114,978 - 8,816,754 Ocotillo Springs - Series A (6) CA 15,000,000 271,172 - 15,271,172 Residency at the Mayer - Series A (6) CA 24,000,000 - - 24,000,000 San Vicente - Series A (4) CA 3,400,913 671,681 - 4,072,594 Santa Fe Apartments - Series A (3) CA 2,907,057 567,028 - 3,474,085 Seasons at Simi Valley - Series A (4) CA 4,188,582 1,011,623 - 5,200,205 Seasons Lakewood - Series A (4) CA 7,168,917 1,518,742 - 8,687,659 Seasons San Juan Capistrano - Series A (4) CA 12,070,116 2,557,065 - 14,627,181 Summerhill - Series A (4) CA 6,259,888 1,187,464 - 7,447,352 Sycamore Walk - Series A (4) CA 3,474,617 696,090 - 4,170,707 The Village at Madera - Series A (4) CA 3,006,656 621,367 - 3,628,023 Tyler Park Townhomes - Series A (2) CA 5,694,168 691,137 - 6,385,305 Vineyard Gardens - Series A (6) CA 3,939,476 987,782 - 4,927,258 Westside Village Market - Series A (2) CA 3,721,129 701,915 - 4,423,044 Brookstone (1) IL 7,334,161 1,903,086 - 9,237,247 Copper Gate Apartments (2) IN 4,900,000 433,436 - 5,333,436 Renaissance - Series A (3) LA 10,732,295 4,172,381 - 14,904,676 Live 929 Apartments - 2014 Series A (6) MD 36,169,147 573,155 - 36,742,302 Jackson Manor Apartments (6) MS 4,900,000 - - 4,900,000 Gateway Village (6) NC 2,600,000 90,861 - 2,690,861 Greens Property - Series A (2) NC 7,719,000 281,953 - 8,000,953 Lynnhaven Apartments (6) NC 3,450,000 115,328 - 3,565,328 Silver Moon - Series A (3) NM 7,629,704 1,868,323 - 9,498,027 Village at Avalon (5) NM 16,069,382 4,124,498 - 20,193,880 Ohio Properties - Series A (1) OH 13,580,000 - - 13,580,000 Bridle Ridge (1) SC 7,145,000 - - 7,145,000 Columbia Gardens (4) SC 12,725,440 2,003,599 - 14,729,039 Companion at Thornhill Apartments (4) SC 10,924,609 1,793,226 - 12,717,835 Cross Creek (1) SC 6,120,285 1,845,064 - 7,965,349 The Palms at Premier Park Apartments (2) SC 18,385,572 2,181,632 - 20,567,204 Village at River's Edge (4) SC 9,728,355 2,370,569 - 12,098,924 Willow Run (4) SC 12,549,146 1,974,479 - 14,523,625 Arbors at Hickory Ridge (2) TN 10,755,889 3,598,292 - 14,354,181 Avistar at Copperfield - Series A (6) TX 13,678,286 2,549,711 - 16,227,997 Avistar at the Crest - Series A (2) TX 9,022,172 1,926,825 - 10,948,997 Avistar at the Oaks - Series A (2) TX 7,295,334 1,578,333 - 8,873,667 Avistar at the Parkway - Series A (3) TX 12,579,783 2,353,247 - 14,933,030 Avistar at Wilcrest - Series A (6) TX 5,183,794 772,242 - 5,956,036 Avistar at Wood Hollow - Series A (6) TX 39,360,426 7,200,790 - 46,561,216 Avistar in 09 - Series A (2) TX 6,299,237 1,288,060 - 7,587,297 Avistar on the Boulevard - Series A (2) TX 15,370,243 3,165,575 - 18,535,818 Avistar on the Hills - Series A (2) TX 4,994,549 1,100,478 - 6,095,027 Bruton Apartments (4) TX 17,532,185 4,452,765 - 21,984,950 Concord at Gulfgate - Series A (4) TX 18,606,719 4,211,979 - 22,818,698 Concord at Little York - Series A (4) TX 13,034,887 3,055,517 - 16,090,404 Concord at Williamcrest - Series A (4) TX 20,192,436 4,651,973 - 24,844,409 Crossing at 1415 - Series A (4) TX 7,253,698 1,549,224 - 8,802,922 Decatur Angle (4) TX 22,074,594 4,731,759 - 26,806,353 Esperanza at Palo Alto (4) TX 19,071,622 5,317,911 - 24,389,533 Heights at 515 - Series A (4) TX 6,640,885 1,418,341 - 8,059,226 Heritage Square - Series A (3) TX 10,455,924 1,823,426 - 12,279,350 Oaks at Georgetown - Series A (4) TX 12,026,225 2,181,690 - 14,207,915 Runnymede (1) TX 9,675,000 99,489 - 9,774,489 Southpark (1) TX 11,365,100 1,542,509 - 12,907,609 15 West Apartments (4) WA 9,531,842 2,799,259 - 12,331,101 Mortgage revenue bonds held in trust $ 639,116,502 $ 111,818,346 $ - $ 750,934,848 (1) MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 (2) MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 (3) MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 (4) MRBs owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 (5) MRB held by Morgan Stanley in a debt financing transaction Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 December 31, 2021 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Lutheran Gardens CA $ 10,352,000 $ - $ - $ 10,352,000 Solano Vista - Series A CA 2,649,291 744,617 - 3,393,908 Live 929 Apartments - 2014 Series B MD 17,344,000 - - 17,344,000 Meadow Valley MI 100,000 - - 100,000 Greens Property - Series B NC 920,637 46,672 - 967,309 Ohio Properties - Series B OH 3,465,270 - - 3,465,270 Provision Center 2014-1 TN 4,300,000 - - 4,300,000 Avistar at the Crest - Series B TX 730,612 122,646 - 853,258 Avistar at the Oaks - Series B TX 534,953 86,437 - 621,390 Avistar at the Parkway - Series B TX 123,598 37,590 - 161,188 Avistar in 09 - Series B TX 441,288 71,303 - 512,591 Avistar on the Boulevard - Series B TX 434,132 69,950 - 504,082 Mortgage revenue bonds held by the Partnership $ 41,395,781 $ 1,179,215 $ - $ 42,574,996
Schedule of MRBs Acquisitions	The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the nine months ended September 30, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Principal Acquired Residency at the Entrepreneur - Series J-1 April Los Angeles, CA 200 3/31/2040 6.00 % $ 9,000,000 Residency at the Entrepreneur - Series J-2 April Los Angeles, CA 200 3/31/2040 6.00 % 7,500,000 Residency at the Entrepreneur - Series J-3 April Los Angeles, CA 200 3/31/2040 6.00 % (1) Residency at the Entrepreneur - Series J-4 April Los Angeles, CA 200 3/31/2040 SOFR + 3.60 % (2) (1) CCBA Senior Garden Apartments (3) June San Diego, CA 45 7/1/2037 4.50 % 3,807,000 $ 20,307,000 (1) The Partnership has committed to provide funding for the Series J-3 and Series J-4 MRBs of $ 26.1 million and $ 16.4 million, respectively. See Note 18. (2) The interest rate is subject to an all-in floor of 3.87 %. Upon stabilization, the Series J-4 MRB will become subordinate to the Series J-1, J-2 and J-3 MRBs and will convert to a fixed rate of 8.0 %. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 1.5 million. (3) The investment was previously reported as a bond purchase commitment that has converted to an MRB. Restructurings: In January 2022, the Live 929 Apartments property completed a restructuring of the Partnership’s MRBs and property loan. The Partnership’s Live 929 Apartments – 2014 Series A and Live 929 Apartments – 2014 Series B MRBs were redeemed at par plus accrued interest. The following tables summarizes the terms of the MRBs upon redemption: Property Name Month Property Location Units Original Interest Rate Principal Live 929 Apartments - 2014 Series A January Baltimore, MD 575 7/1/2049 5.78 % $ 39,445,000 Live 929 Apartments - 2014 Series B January Baltimore, MD 575 7/1/2039 1.60 % 21,610,000 $ 61,055,000 Upon restructuring, the Partnership used the proceeds of the redeemed MRBs plus additional cash to acquire a new series of MRB secured by the Live 929 Apartments property, the Series 2022A MRB. The following tables summarizes the MRB that was acquired as part of the restructuring of the Live 929 Apartments MRBs: Property Name Month Property Location Units Maturity Date Interest Rate Principal Acquired Live 929 Apartments - Series 2022A January Baltimore, MD 575 1/1/2060 4.30 % $ 66,365,000 The following MRB was acquired at a price that approximated the principal outstanding plus accrued interest during the nine months ended September 30, 2021: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Acquired Jackson Manor Apartments (1) April Jackson, MS 60 5/1/2038 5.00 % $ 4,150,000 The Partnership has committed to provide total funding of the MRB up to $ 6.9 million during the acquisition and rehabilitation phase of the property on a drawdown basis. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 4.8 million .
Schedule of MRB Redeemed	The following MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest during the nine months ended September 30, 2022: Property Name Month Property Location Units Original Interest Rate Principal Ohio Properties - Series A March (1) 362 6/1/2050 7.00 % $ 13,544,000 Ohio Properties - Series B March (1) 362 6/1/2050 10.00 % 3,459,840 Bridle Ridge May Greer, SC 152 1/1/2043 6.00 % 7,100,000 Cross Creek September Beaufort, SC 144 3/1/2049 6.15 % 7,666,752 $ 31,770,592 (1) The Ohio Properties consist of Crescent Village, located in Cincinnati, Ohio, Willow Bend, located in Columbus (Hilliard), Ohio and Postwoods, located in Reynoldsburg, Ohio. The following MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest during the nine months ended September 30, 2021: Property Name Month Property Location Units Original Interest Rate Principal Arby Road Apartments - Series A (1) March Las Vegas, NV 180 10/1/2027 5.35 % $ 1,600,000 Arby Road Apartments - Series A (1) March Las Vegas, NV 180 4/1/2041 5.50 % 5,785,000 Rosewood Townhomes - Series A July Goose Creek, SC 100 7/1/2055 5.75 % 9,259,206 Rosewood Townhomes - Series B July Goose Creek, SC 100 8/1/2055 12.00 % 469,781 South Pointe Apartments - Series A July Hanahan, SC 256 7/1/2055 5.75 % 21,551,600 South Pointe Apartments - Series B July Hanahan, SC 256 8/1/2055 12.00 % 1,099,487 $ 39,765,074 (1) Both MRBs are part of the same series but had different interest rates and maturity dates.
Summary of Changes in Partnership's Allowance for Credit Losses	The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Balance, beginning of period $ 10,013,392 $ 8,218,669 $ 9,175,482 $ 7,318,589 Provision for credit loss - - - 900,080 Other additions (1) - - 860,533 - Recovery of prior credit loss (2) ( 17,345 ) - ( 39,968 ) - Balance, end of period (3) $ 9,996,047 $ 8,218,669 $ 9,996,047 $ 8,218,669 (1) The other addition is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan. (2) The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. The Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. (3) The allowance for credit losses as of September 30, 2022 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments - Series 2022A MRB. The allowance for credit losses as of September 30, 2021 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments – 2014 Series A MRB.

Governmental Issuer Loans (Tabl

Governmental Issuer Loans (Tables)	9 Months Ended
	Sep. 30, 2022
Governmental Issuer Loans [Abstract]
Summary of Partnership's GIL Investments	The Partnership had the following GIL investments as of September 30, 2022 and December 31, 2021: As of September 30, 2022 Property Name Month Property Units Maturity (1) Interest Rate (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 1/1/2023 SIFMA + 3.10 % 5.56 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 2.25 % 4.71 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 5.21 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 6.05 % 34,620,000 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 6.05 % 24,450,000 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2023 SIFMA + 3.75 % 6.21 % 23,390,000 Hope on Broadway January 2021 Los Angeles, CA 49 2/1/2023 SIFMA + 3.75 % 6.21 % 10,691,245 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 5.36 % 30,648,439 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 5.59 % 12,358,271 Magnolia Heights (3) June 2022 Covington, GA 200 7/1/2024 SOFR + 3.85 % 6.14 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 6,746,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 3,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 7,350,000 $ 281,275,255 (1) The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 21). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. As of December 31, 2021 Property Name Month Property Units Maturity (1) Variable Interest (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 1/1/2023 SIFMA + 3.10 % 3.20 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 3.25 % (4) 3.75 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 3.25 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 3.57 % 33,120,605 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 3.57 % 21,550,584 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2023 SIFMA + 3.75 % 4.60 % 9,981,200 Hope on Broadway January 2021 Los Angeles, CA 49 2/1/2023 SIFMA + 3.75 % 4.60 % 3,691,245 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 3.57 % 6,372,030 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 3.55 % 2,971,786 $ 184,767,450 (1) The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 21). (4) The variable rate decreases to SIFMA plus 2.25 % upon completion of construction.

Real Estate Assets (Tables)

Real Estate Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Real Estate [Abstract]
Real Estate Assets Owned by Partnership	The following tables summarize information regarding the Partnership’s real estate assets as of September 30, 2022 and December 31, 2021: Real Estate Assets as of September 30, 2022 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,205,961 $ 39,426,150 $ 42,632,111 The 50/50 MF Property Lincoln, NE 475 - 33,812,722 33,812,722 Vantage at San Marcos San Marcos, TX (1) 2,660,615 682,929 3,343,544 Land held for development (2) 1,551,196 - 1,551,196 $ 81,339,573 Less accumulated depreciation ( 22,740,549 ) Net real estate assets $ 58,599,024 (1) The land is owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. Real Estate Assets as of December 31, 2021 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,199,268 $ 39,302,507 $ 42,501,775 The 50/50 MF Property Lincoln, NE 475 - 33,013,039 33,013,039 Vantage at San Marcos San Marcos, TX (1) 2,660,615 682,929 3,343,544 Land held for development (2) 1,551,196 - 1,551,196 $ 80,409,554 Less accumulated depreciation ( 20,701,922 ) Net real estate assets $ 59,707,632 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE.

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Summary of Investments in Unconsolidated Entities	The following table provides the details of the investments in unconsolidated entities as of September 30, 2022 and December 31, 2021: Property Name Location Units Construction Commencement Date Construction Completion Date Carrying Value as of September 30, 2022 Carrying Value as of December 31, 2021 Vantage at Stone Creek Omaha, NE 294 March 2018 April 2020 $ 5,506,982 $ 6,143,099 Vantage at Murfreesboro Murfreesboro, TN 288 September 2018 October 2020 - 12,240,000 Vantage at Coventry Omaha, NE 294 September 2018 February 2021 6,880,265 7,611,614 Vantage at Conroe Conroe, TX 288 April 2019 January 2021 10,424,625 11,164,625 Vantage at O'Connor San Antonio, TX 288 October 2019 June 2021 - 9,109,343 Vantage at Westover Hills San Antonio, TX 288 January 2020 July 2021 - 8,861,504 Vantage at Tomball Tomball, TX 288 August 2020 April 2022 12,731,001 11,814,774 Vantage at Hutto Hutto, TX 288 December 2021 N/A 12,280,709 5,629,651 Vantage at Loveland Loveland, CO 288 April 2021 N/A 17,752,152 10,913,911 Vantage at Helotes Helotes, TX 288 May 2021 N/A 13,752,151 11,350,686 Vantage at Fair Oaks Boerne, TX 288 September 2021 N/A 11,763,456 6,424,306 Vantage at McKinney Falls McKinney Falls, TX 288 December 2021 N/A 12,011,905 6,530,009 $ 103,103,246 $ 107,793,522
Summary of Sales Information of Partnership Investment in Unconsolidated Entities	The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the nine months ended September 30, 2022: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Murfreesboro Murfreesboro, TN 288 March 2022 $ 29,258,279 $ 657,937 $ 16,360,343 Vantage at Westover Hills San Antonio, TX 288 May 2022 20,923,784 - 12,658,501 Vantage at Bulverde Bulverde, TX 288 (1) 60,000 - 60,000 Vantage at Germantown Germantown, TN 288 (2) 4,407 - 4,407 Vantage at O'Connor San Antonio, TX 288 July 2022 19,381,976 1,195 10,580,781 $ 69,628,446 $ 659,132 $ 39,664,032 (1) During the first nine months of 2022, the Partnership received net cash of approximately $ 60,000 associated with final settlements of the Vantage at Bulverde sale in August 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. (2) In March 2022, the Partnership received cash of approximately $ 4,000 associated with final settlements of the Vantage at Germantown sale in March 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. Activity in the First Nine Months of 2021 Sales Activity: The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the nine months ended September 30, 2021: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Germantown Germantown, TN 288 March 2021 $ 16,096,560 $ 862,454 $ 2,809,106 Vantage at Powdersville Powdersville, SC 288 May 2021 20,118,680 2,359,394 5,463,484 Vantage at Bulverde Bulverde, TX 288 August 2021 18,916,961 1,392,312 6,954,649 $ 55,132,201 $ 4,614,160 $ 15,227,239
Summary of Partnership's Investments in Unconsolidated Entities	The following table provides combined summary financial information for the properties underlying the Partnership’s investments in unconsolidated entities for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Property Revenues $ 4,732,250 $ 6,486,029 $ 16,847,354 $ 17,444,805 Gain on sale of property $ 23,231,887 $ 17,646,543 $ 87,835,109 $ 42,273,235 Net income $ 23,309,924 $ 17,591,694 $ 88,447,049 $ 38,102,642

Property Loans, Net of Loan L_2

Property Loans, Net of Loan Loss Allowances (Tables)	9 Months Ended
	Sep. 30, 2022
Property Loans Net Of Loan Loss Allowance [Abstract]
Summary of Partnership's Property Loans, Net of Loan Loss Allowances	The following tables summarize the Partnership’s property loans, net of loan loss allowances, as of September 30, 2022 and December 31, 2021: September 30, 2022 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 24,250,000 $ - $ 24,250,000 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 18,968,334 - 18,968,334 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 28,166,905 - 28,166,905 2/1/2024 SOFR + 3.07 % Magnolia Heights 1,000,000 - 1,000,000 7/1/2024 SOFR + 3.85 % Oasis at Twin Lakes 24,018,657 - 24,018,657 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 24,160,000 - 24,160,000 1/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 122,563,896 - 122,563,896 Other Avistar (February 2013 portfolio) $ 201,972 $ - $ 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 1,798,594 ( 495,000 ) 1,303,594 Total $ 124,362,490 $ ( 495,000 ) $ 123,867,490 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. December 31, 2021 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 11,354,386 $ - $ 11,354,386 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 1,000,000 - 1,000,000 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 2,604,230 - 2,604,230 2/1/2024 SOFR + 3.0 7% Oasis at Twin Lakes 20,607,362 - 20,607,362 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 9,708,598 - 9,708,598 1/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 47,274,576 - 47,274,576 Senior Acquisition Financing Magnolia Crossing $ 13,424,579 $ - $ 13,424,579 12/1/2022 SOFR + 6.50 % (2) Subtotal 13,424,579 - 13,424,579 Other Avistar (February 2013 portfolio) $ 201,972 $ - $ 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Cross Creek 11,101,887 ( 7,393,814 ) 3,708,073 12/1/2025 6.15 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 1,355,534 ( 1,355,534 ) - 7/31/2049 8.00 % Ohio Properties 2,390,446 - 2,390,446 12/1/2026 - 6/1/2050 10.00 % Subtotal 16,151,461 ( 8,749,348 ) 7,402,113 Total $ 76,850,616 $ ( 8,749,348 ) $ 68,101,268 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. (2) The index is subject to a floor of 0.25 %.
Summary of Changes in Partnership's Allowance for Credit Losses	The following table summarizes the changes in the Partnership's loan loss allowance for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Balance, beginning of period $ 7,888,815 $ 8,635,162 $ 8,749,348 $ 8,305,046 Provision for loan loss - - - $ 330,116 Other reductions (1) ( 7,393,815 ) - ( 8,254,348 ) - Balance, end of period $ 495,000 $ 8,635,162 $ 495,000 $ 8,635,162 (1) The reduction in the loan loss allowance for the three and nine months ended September 30, 2022 is due to the redemption of all Cross Creek property loan balances in September 2022 and a principal payment received on the Live 929 Apartments property loan as part of the restructuring of the outstanding debt of Live 929 Apartments (Note 6) in January 2022.

Income Tax Provision (Tables)

Income Tax Provision (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense (Benefit)	The following table summarizes income tax expense (benefit) for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Current income tax expense (benefit) $ ( 38,980 ) $ ( 39,131 ) $ 3,688 $ 104,483 Deferred income tax benefit ( 42,543 ) ( 42,011 ) ( 49,250 ) ( 77,681 ) Total income tax expense (benefit) $ ( 81,523 ) $ ( 81,142 ) $ ( 45,562 ) $ 26,802

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Other Assets [Abstract]
Schedule of Other Assets	The following table summarizes the Partnership's other assets as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Deferred financing costs, net $ 1,085,136 $ 1,349,097 Fair value of derivative instruments (Note 17) 6,855,221 343,418 Taxable mortgage revenue bonds, at fair value 13,528,034 3,428,443 Taxable governmental issuer loans 4,000,000 1,000,000 Bond purchase commitments, at fair value (Note 18) - 964,404 Operating lease right-of-use assets, net 1,598,037 1,619,714 Other assets 2,650,240 2,157,809 Total other assets $ 29,716,668 $ 10,862,885
Summary of Taxable MRB and GIL Acquired	The following table includes details of the taxable MRBs and taxable GILs acquired during the nine months ended September 30, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Acquired Live 929 Apartments - Series 2022B January 2022 Baltimore, MD 575 1/1/2029 4.30 % $ 3,625,000 Residency at the Entrepreneur - Series J-T (1) April 2022 Los Angeles, CA 200 4/1/2025 SOFR + 3.65 % 1,000,000 Poppy Grove I (2) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 1,000,000 Poppy Grove II (2) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 1,000,000 Poppy Grove III (2) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 1,000,000 $ 7,625,000 (1) The Partnership has committed to provide total funding for this taxable MRB of $ 13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92 %. (2) The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $ 21.2 million, $ 10.9 million, and $ 24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees.
Summary Of Taxable Governmental Issuer Loan Acquired	The following table includes details of the taxable GIL acquired during the nine months ended September 30, 2021: Property Name Date Committed Maturity Date Initial Outstanding Balance Total Commitment Hope on Avalon January 2021 2/1/2023 (1) $ 1,000,000 $ 10,573,000 (1) The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee.

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Summary of Accounts Payable, Accrued Expenses and Other Liabilities	The following table summarizes the Partnership's accounts payable, accrued expenses and other liabilities as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Accounts payable $ 1,784,160 $ 1,234,111 Accrued expenses 4,462,978 4,102,381 Accrued interest expense 5,967,620 4,229,119 Operating lease liabilities 2,152,660 2,151,991 Bond purchase commitment, at fair value (Note 18) 82,911 - Other liabilities 1,915,793 1,946,610 Total accounts payable, accrued expenses and other liabilities $ 16,366,122 $ 13,664,212
Summary of Future Contractual Payments for Partnership's Operating Leases and Reconciliation to Carrying Value of Operating Lease Liabilities	The following table summarizes future contractual payments for the Partnership’s operating leases and a reconciliation to the carrying value of operating lease liabilities as of September 30, 2022: Remainder of 2022 $ 35,657 2023 143,561 2024 144,706 2025 147,598 2026 150,548 Thereafter 4,219,127 Total 4,841,197 Less: Amount representing interest ( 2,688,537 ) Total operating lease liabilities $ 2,152,660

Secured Line of Credit (Tables)

Secured Line of Credit (Tables)	9 Months Ended
	Sep. 30, 2022
Secured Line Of Credit Facility [Member]
Line Of Credit Facility [Line Items]
Summary of Lines of Credit	The following tables summarize the Partnership's secured lines of credit ("LOC" or "LOCs") as of September 30, 2022 and December 31, 2021: Secured Lines of Credit Outstanding as of September 30, 2022 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 5.88 % Bankers Trust Acquisition LOC 24,442,000 50,000,000 June 2024 (3) Variable (4) Monthly 5.10 % $ 30,942,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited, N.A. (“BankUnited”) if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. (3) The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee. (4) The variable rate is equal to 2.50 % plus a variable component based on the 1-month forward looking term Secured Overnight Financing Rate as published by CME Group Benchmark Administration Limited (“Term SOFR”). Secured Lines of Credit Outstanding as of December 31, 2021 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 3.50 % Bankers Trust Acquisition LOC 39,214,000 50,000,000 June 2023 Variable (3) Monthly 3.10 % $ 45,714,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. (3) The variable rate is equal to the greater of (i) the Prime Rate or (ii) 3.25 % per annum; plus or minus a margin varying from 0.35 % to ( 0.65 %) depending upon the ratio of the Partnership’s senior debt to market value of assets.

Debt Financing (Tables)

Debt Financing (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Financing [Abstract]
Schedule of Total Debt Financing	The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of September 30, 2022 and December 31, 2021: Outstanding Debt Restricted Year Stated Reset Variable Rate Index Index Spread/ Period End TEBS Financings Fixed - M24 $ 7,752,126 $ 39,080 2010 2027 N/A N/A N/A N/A 3.05 % Variable - M31 (1) 75,970,493 4,999 2014 2024 Weekly SIFMA 1.43 % 2.49 % 3.92 % Fixed - M33 29,713,724 2,606 2015 2030 N/A N/A N/A N/A 3.24 % Fixed - M45 (2) 212,430,600 5,000 2018 2034 N/A N/A N/A N/A 3.82 % Secured Notes Variable - Notes 102,567,831 36,009,014 2020 2025 Monthly 3-month LIBOR 3.29 % 9.00 % 12.29 % (3) TOB Trust Securitizations Mizuho Capital Markets: Variable - TOB 48,712,716 (4) 2020 - 2021 2023 Weekly SIFMA 2.66 % - 2.68 % 0.89 % - 1.44 % 3.55 % - 4.10 % Variable - TOB 139,759,072 (4) 2020 2023 Weekly OBFR 3.32 % 0.89 % 4.21 % Variable - TOB 170,843,324 (4) 2021 2024 Weekly OBFR 3.32 % 0.89 % - 1.16 % 4.21 % - 4.48 % Variable - TOB 59,556,053 (4) 2019 - 2020 2025 Weekly SIFMA 2.66 % - 2.68 % 1.17 % - 1.67 % 3.83 % - 4.35 % Variable - TOB 13,337,843 (4) 2022 2025 Weekly OBFR 3.32 % 1.18 % 4.50 % Variable - TOB 53,088,531 (4) 2022 2027 Weekly SIFMA 2.68 % 1.18 % 3.86 % Morgan Stanley: Fixed - Term TOB 12,852,040 - 2019 2024 N/A N/A N/A N/A 1.98 % Barclays Capital Inc.: Variable - TOB 36,031,013 - 2021 2023 Weekly OBFR 3.60 % 1.27 % 4.87 % Total Debt Financings $ 962,615,366 (1) Facility fees have a variable component. (2) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (3) The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.04 % as of September 30, 2022. See Note 17 for further information on the total return swap. (4) The Partnership has restricted cash totaling approximately $ 4.5 million related to its total net position with Mizuho Capital Markets. Outstanding Debt Restricted Year Stated Reset Variable Rate Index Index Spread/ Period End TEBS Financings Fixed - M24 $ 35,551,762 $ 204,000 2010 2027 N/A N/A N/A N/A 3.05 % Variable - M31 (1) 76,964,051 4,999 2014 2024 Weekly SIFMA 0.13 % 1.32 % 1.45 % Fixed - M33 30,191,051 2,606 2015 2030 N/A N/A N/A N/A 3.24 % Fixed - M45 (2) 213,931,752 5,000 2018 2034 N/A N/A N/A N/A 3.82 % Secured Notes Variable - Notes 102,798,158 77,531,264 2020 2025 Monthly 3-month LIBOR 0.20 % 9.00 % 9.20 % (3) TOB Trust Securitizations Mizuho Capital Markets: Variable - TOB 13,482,312 - 2020 2022 Weekly SIFMA 0.23 % 0.89 % 1.12 % Variable - TOB 117,257,933 - 2019 - 2021 2023 Weekly SIFMA 0.23 % - 0.30 % 1.17 % - 1.67 % 1.40 % - 1.97 % Variable - TOB 115,143,312 - 2020 2023 Weekly OBFR 0.18 % 0.89 % 1.07 % Variable - TOB 98,703,495 - 2021 2024 Weekly OBFR 0.18 % 0.89 % - 1.16 % 1.07 % - 1.34 % Morgan Stanley: Fixed - Term TOB 12,915,190 - 2019 2024 N/A N/A N/A N/A 1.98 % Barclays Capital Inc.: Variable - TOB 3,139,698 - 2021 2022 Weekly OBFR 0.14 % 1.27 % 1.41 % Total Debt Financings $ 820,078,714 (1) Facility fees have a variable component. (2) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (3) The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25 % for approximately $ 39.6 million of the Secured Notes and 1.00 % for approximately $ 63.5 million of the Secured Notes as of December 31, 2021. See Note 17 for further information on the total return swaps.
Summary of TOB Trust Financings	The following is a summary of the new TOB trust financings that were entered into during the nine months ended September 30, 2022: TOB Trusts Securitization Initial TOB Stated Maturity Reset Variable Rate Index Facility Fees Residency at the Entrepreneur MRBs and taxable MRB $ 14,000,000 April 2025 Weekly OBFR 1.18 % Live 929 Series 2022A MRB (1) 53,092,000 September 2027 Weekly SIFMA 1.18 % Total TOB Trust Financings $ 67,092,000 (1) The TOB Trust financing associated with the Live 929 Apartments MRB and taxable MRB was originated in January 2022 and subsequently redeemed in September 2022. The Live 929 Apartments Series 2022A MRB was securitized into a new TOB Trust financing in September 2022. The Live 929 Apartments Series 2022B taxable MRB was removed from the original TOB trust financing and was not leveraged in a debt financing facility as of September 30, 2022. The termination of the original TOB Trust financing was treated as an extinguishment for accounting purposes and the Partnership expensed approximately $ 508,000 of deferred financings costs. In July 2022, the Partnership deposited the Magnolia Heights GIL and property loan into the existing TOB Trust 2021-XF2953 financing and received additional debt financing proceeds of approximately $ 12.6 million. The following is a summary of the TOB trust financings that were entered into during the nine months ended September 30, 2021: TOB Trusts Securitization Initial TOB (1) Stated Maturity Reset Variable Rate Index Facility Fees Trust 2021-XF2926 (2) $ 16,190,000 January 2024 Weekly OBFR 0.89 % Hope on Avalon GIL 5,064,000 February 2023 Weekly SIFMA 1.42 % Hope on Broadway GIL 2,953,000 February 2023 Weekly SIFMA 1.42 % Jackson Manor Apartments MRB 3,528,000 April 2023 Weekly SIFMA 1.27 % Trust 2021-XF2939 (3) 4,085,000 July 2024 Weekly OBFR 1.16 % Total TOB Trust Financings $ 31,820,000 (1) Amounts shown are the initial funding into the respective TOB trusts. The balances will increase based upon subsequent fundings of the related securitized assets and the current outstanding balances are contained in the summarized debt financing table above. (2) The TOB trust is securitized by the Legacy Commons at Signal Hills GIL and property loan, Hilltop at Signal Hills GIL and property loan, Oasis at Twin Lakes property loan and Hope on Avalon taxable GIL. (3) The TOB Trust is a securitization of the Osprey Village GIL and property loan and the Ocotillo Springs Series A-T taxable MRB.
Summary of TOB Trust Financings Redeemed and Principal and Interest Paid in Full	The following is a summary of TOB trust financings that were redeemed and all principal and interest were paid in full during the nine months ended September 30, 2022: Debt Financing Debt Facility Month Paydown Applied Live 929 Apartments - 2014 Series A TOB Trust January 2022 $ 31,565,000 Gateway Village TOB Trust May 2022 2,183,000 Lynnhaven Apartments TOB Trust May 2022 2,896,000 $ 36,644,000 The following is a summary of the TOB trust financings that were collapsed and all principal and interest were paid in full during the nine months ended September 30, 2021: Debt Financing Debt Facility Month Paydown Applied Rosewood Townhomes - Series A TOB Trust July 2021 $ 7,700,000 South Pointe Apartments - Series A TOB Trust July 2021 17,990,000 $ 25,690,000
Schedule of Contractual Maturities of Borrowings	The Partnership’s contractual maturities of borrowings as of September 30, 2022 for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: Remainder of 2022 $ 1,675,596 2023 230,681,816 2024 269,559,152 2025 177,359,289 2026 3,544,863 Thereafter 282,537,017 Total 965,357,733 Unamortized deferred financing costs and debt premium ( 2,742,367 ) Total debt financing, net $ 962,615,366

Mortgages Payable and Other S_2

Mortgages Payable and Other Secured Financing (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Instrument [Line Items]
Schedule of Total Debt Financing	The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of September 30, 2022 and December 31, 2021: Outstanding Debt Restricted Year Stated Reset Variable Rate Index Index Spread/ Period End TEBS Financings Fixed - M24 $ 7,752,126 $ 39,080 2010 2027 N/A N/A N/A N/A 3.05 % Variable - M31 (1) 75,970,493 4,999 2014 2024 Weekly SIFMA 1.43 % 2.49 % 3.92 % Fixed - M33 29,713,724 2,606 2015 2030 N/A N/A N/A N/A 3.24 % Fixed - M45 (2) 212,430,600 5,000 2018 2034 N/A N/A N/A N/A 3.82 % Secured Notes Variable - Notes 102,567,831 36,009,014 2020 2025 Monthly 3-month LIBOR 3.29 % 9.00 % 12.29 % (3) TOB Trust Securitizations Mizuho Capital Markets: Variable - TOB 48,712,716 (4) 2020 - 2021 2023 Weekly SIFMA 2.66 % - 2.68 % 0.89 % - 1.44 % 3.55 % - 4.10 % Variable - TOB 139,759,072 (4) 2020 2023 Weekly OBFR 3.32 % 0.89 % 4.21 % Variable - TOB 170,843,324 (4) 2021 2024 Weekly OBFR 3.32 % 0.89 % - 1.16 % 4.21 % - 4.48 % Variable - TOB 59,556,053 (4) 2019 - 2020 2025 Weekly SIFMA 2.66 % - 2.68 % 1.17 % - 1.67 % 3.83 % - 4.35 % Variable - TOB 13,337,843 (4) 2022 2025 Weekly OBFR 3.32 % 1.18 % 4.50 % Variable - TOB 53,088,531 (4) 2022 2027 Weekly SIFMA 2.68 % 1.18 % 3.86 % Morgan Stanley: Fixed - Term TOB 12,852,040 - 2019 2024 N/A N/A N/A N/A 1.98 % Barclays Capital Inc.: Variable - TOB 36,031,013 - 2021 2023 Weekly OBFR 3.60 % 1.27 % 4.87 % Total Debt Financings $ 962,615,366 (1) Facility fees have a variable component. (2) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (3) The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.04 % as of September 30, 2022. See Note 17 for further information on the total return swap. (4) The Partnership has restricted cash totaling approximately $ 4.5 million related to its total net position with Mizuho Capital Markets. Outstanding Debt Restricted Year Stated Reset Variable Rate Index Index Spread/ Period End TEBS Financings Fixed - M24 $ 35,551,762 $ 204,000 2010 2027 N/A N/A N/A N/A 3.05 % Variable - M31 (1) 76,964,051 4,999 2014 2024 Weekly SIFMA 0.13 % 1.32 % 1.45 % Fixed - M33 30,191,051 2,606 2015 2030 N/A N/A N/A N/A 3.24 % Fixed - M45 (2) 213,931,752 5,000 2018 2034 N/A N/A N/A N/A 3.82 % Secured Notes Variable - Notes 102,798,158 77,531,264 2020 2025 Monthly 3-month LIBOR 0.20 % 9.00 % 9.20 % (3) TOB Trust Securitizations Mizuho Capital Markets: Variable - TOB 13,482,312 - 2020 2022 Weekly SIFMA 0.23 % 0.89 % 1.12 % Variable - TOB 117,257,933 - 2019 - 2021 2023 Weekly SIFMA 0.23 % - 0.30 % 1.17 % - 1.67 % 1.40 % - 1.97 % Variable - TOB 115,143,312 - 2020 2023 Weekly OBFR 0.18 % 0.89 % 1.07 % Variable - TOB 98,703,495 - 2021 2024 Weekly OBFR 0.18 % 0.89 % - 1.16 % 1.07 % - 1.34 % Morgan Stanley: Fixed - Term TOB 12,915,190 - 2019 2024 N/A N/A N/A N/A 1.98 % Barclays Capital Inc.: Variable - TOB 3,139,698 - 2021 2022 Weekly OBFR 0.14 % 1.27 % 1.41 % Total Debt Financings $ 820,078,714 (1) Facility fees have a variable component. (2) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (3) The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25 % for approximately $ 39.6 million of the Secured Notes and 1.00 % for approximately $ 63.5 million of the Secured Notes as of December 31, 2021. See Note 17 for further information on the total return swaps.
Schedule of Contractual Maturities of Borrowings	The Partnership’s contractual maturities of borrowings as of September 30, 2022 for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: Remainder of 2022 $ 1,675,596 2023 230,681,816 2024 269,559,152 2025 177,359,289 2026 3,544,863 Thereafter 282,537,017 Total 965,357,733 Unamortized deferred financing costs and debt premium ( 2,742,367 ) Total debt financing, net $ 962,615,366
Mortgages payable [Member]
Debt Instrument [Line Items]
Schedule of Total Debt Financing	The following is a summary of the mortgages payable and other secured financing, net of deferred financing costs, as of September 30, 2022 and December 31, 2021: Property Mortgage Payables Outstanding Mortgage Outstanding Mortgage Year Stated Maturity Variable Period End The 50/50 MF Property--TIF Loan $ 1,978,582 $ 2,174,453 2020 March 2025 Fixed 4.40 % The 50/50 MF Property--Mortgage 22,562,273 22,960,090 2020 April 2027 Fixed 4.35 % Vantage at San Marcos--Mortgage (1) 1,690,000 1,690,000 2020 November 2022 Variable 7.00 % Total Mortgage Payable\Weighted $ 26,230,855 $ 26,824,543 4.52 %
Schedule of Contractual Maturities of Borrowings	The Partnership’s contractual maturities of borrowings as of September 30, 2022 for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: Remainder of 2022 $ 1,996,021 2023 910,597 2024 948,679 2025 1,711,556 2026 641,276 Thereafter 20,023,765 Total 26,231,894 Unamortized deferred financing costs ( 1,039 ) Total mortgages payable and other secured financings, net $ 26,230,855

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative [Line Items]
Summary of Partnership's Derivative Instruments	The following table summarizes the terms of the interest rate swap agreement: Trade Date Initial Notional Amount (1) Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty October 2022 34,436,088 4/1/2023 4/1/2025 3.92 % SOFR TOB Trusts Mizuho Capital Markets (1) The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million.
Interest Rate Swaption [Member]
Derivative [Line Items]
Summary of Partnership's Derivative Instruments	The following table summarizes the Partnership's interest rate swap agreements as of September 30, 2022: Trade Date Notional Amount Effective Date Termination Date Fixed Rate Paid Period End Variable Rate Received Variable Rate Index Variable Debt (1) Counterparty Fair Value of Asset as of February 2022 55,990,000 2/9/2022 2/1/2024 1.40 % 2.49 % SOFR TOB Trusts Mizuho Capital Markets $ 2,202,723 March 2022 47,850,000 3/3/2022 3/1/2027 1.65 % 2.49 % SOFR TOB Trusts Mizuho Capital Markets 4,268,940 $ 6,471,663 (1) See Notes 15 and 22 for additional details.
Total Return Swaps [Member]
Derivative [Line Items]
Summary of Partnership's Derivative Instruments	The following table summarizes the terms of the Partnership’s total return swaps as of September 30, 2022 and December 31, 2021: Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of September 2020 102,789,326 September 2020 Sept 2025 7.04 % (1) 12.29 % (2) 3-month LIBOR Mizuho Capital Markets $ 224,852 $ 224,852 (1) Variable rate equal to 3-month LIBOR + 3.75 %, subject to an all-in floor of 4.25 %. (2) Variable rate equal to 3-month LIBOR + 9.00 % . Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of September 2020 39,607,744 September 2020 Sept 2025 4.25 % (1) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets $ 77,061 September 2020 63,500,000 September 2020 Mar 2022 1.00 % (2) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets 215,267 $ 292,328 (1) Variable rate equal to 3-month LIBOR + 3.75 %, subject to an all-in floor of 4.25 %. (2) Variable rate equal to 3-month LIBOR + 0.50 %, subject to an all-in floor of 1.00 %. (3) Variable rate equal to 3-month LIBOR + 9.00 % .
Interest Rate Cap Agreements [Member]
Derivative [Line Items]
Summary of Partnership's Derivative Instruments	Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 75,449,918 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 158,706 $ 158,706 (1) See Notes 15 and 22 for additional details. Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 76,544,336 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 51,090 $ 51,090 (1) See Notes 15 and 22 for additional details.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Summary of Partnership's Bond Purchase Commitments	The following table summarizes the Partnership’s bond purchase commitments as of September 30, 2022: Bond Purchase Commitments Commitment Date Maximum Interest Estimated Closing Fair Value as of Fair Value as of CCBA Senior Garden Apartments July 2020 $ - 4.50 % June 2022 (1) $ - $ 495,784 Anaheim & Walnut September 2021 3,900,000 4.85 % Q3 2024 ( 82,911 ) 468,620 $ 3,900,000 $ ( 82,911 ) $ 964,404 (1) The closing date is actual.
Summary of Partnership's Total and Remaining Commitments	The following table summarizes the Partnership's total and remaining commitments as of September 30, 2022: Property Name Commitment Date Maturity Date Interest Rate (1) Total Initial Commitment Remaining Commitment Mortgage Revenue Bonds Residency at the Mayer - Series A October 2021 April 2039 SOFR + 3.60 % $ 29,500,000 $ 4,500,000 Meadow Valley December 2021 December 2029 6.25 % 44,000,000 42,276,563 Residency at the Entrepreneur- Series J-3 April 2022 March 2040 6.00 % 26,080,000 26,080,000 Residency at the Entrepreneur- Series J-4 April 2022 March 2040 SOFR + 3.60 % (2) 16,420,000 16,420,000 Subtotal 116,000,000 89,276,563 Taxable Mortgage Revenue Bonds Residency at the Mayer Series A-T October 2021 April 2024 (3) SOFR + 3.70 % $ 12,500,000 $ 11,500,000 Residency at the Entrepreneur Series J-T April 2022 April 2025 (3) SOFR + 3.65 % 13,000,000 12,000,000 Subtotal 25,500,000 23,500,000 Governmental Issuer Loans Hope on Broadway January 2021 February 2023 (3) SIFMA + 3.75 % $ 12,105,623 $ 1,414,378 Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 60,000,000 29,351,561 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 25,000,000 12,641,729 Poppy Grove I September 2022 April 2025 (3) 6.78 % 35,688,328 28,942,328 Poppy Grove II September 2022 April 2025 (3) 6.78 % 22,250,000 18,708,700 Poppy Grove III September 2022 April 2025 (3) 6.78 % 39,119,507 31,769,507 Subtotal 194,163,458 122,828,203 Taxable Governmental Issuer Loans Hope on Avalon January 2021 February 2023 (3) SOFR + 3.55 % $ 10,573,000 $ 9,573,000 Poppy Grove I September 2022 April 2025 (3) 6.78 % 21,157,672 20,157,672 Poppy Grove II September 2022 April 2025 (3) 6.78 % 10,941,300 9,941,300 Poppy Grove III September 2022 April 2025 (3) 6.78 % 24,480,493 23,480,493 Subtotal 67,152,465 63,152,465 Property Loans Oasis at Twin Lakes July 2020 August 2023 (3) LIBOR + 2.50 % $ 27,704,180 $ 3,685,523 Hilltop at Signal Hills January 2021 August 2023 (3) SOFR + 3.07 % 21,197,939 2,229,605 Legacy Commons at Signal Hills January 2021 February 2024 (3) SOFR + 3.07 % 32,233,972 4,067,067 Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 25,500,000 24,500,000 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 21,351,328 20,351,328 Magnolia Heights June 2022 July 2024 (3) SOFR + 3.85 % 10,300,000 9,300,000 Subtotal 138,287,419 64,133,523 Equity Investments Vantage at San Marcos (4) November 2020 N/A N/A $ 9,914,529 $ 8,943,914 Subtotal 9,914,529 8,943,914 Bond Purchase Commitments Anaheim & Walnut September 2021 Q3 2024 (5) 4.85 % $ 3,900,000 $ 3,900,000 Subtotal 3,900,000 3,900,000 Total Commitments $ 554,917,871 $ 375,734,668 (1) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (2) Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. (3) The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (4) The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 5). A development site has been identified for this property but construction had not commenced as of September 30, 2022. (5) This is the estimated closing date of the associated bond purchase commitment.
Summary of Partnership's Maximum Exposure Under Guaranty Agreements	The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of September 30, 2022: Borrower Guaranty Maturity Maximum Balance Loan Partnership's Maximum Exposure Guarantee Vantage at Stone Creek 2023 $ 34,222,000 $ 34,222,000 $ 17,111,000 (1) Vantage at Coventry 2023 34,536,000 34,536,000 17,268,000 (1) (1) The Partnership’s guaranty is for 50 % of the loan balance. The Partnership has guaranteed up to 100 % of the outstanding loan balance upon the occurrence of fraud or other willful misconduct by the borrower or if the borrower voluntarily files for bankruptcy. The guaranty agreement requires the Partnership to maintain a minimum net worth of not less than $ 100.0 million and maintain liquid assets of not less than $ 5.0 million. The Partnership was in compliance with these requirements as of September 30, 2022. The Partnership has also provided indemnification to the lender for various costs including environmental non-compliance and remediation during the term. The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of September 30, 2022: Limited Partnership(s) End of Guaranty Period Partnership's Maximum Exposure Ohio Properties 2026 $ 2,661,066 Greens of Pine Glen, LP 2027 1,854,212

Redeemable Preferred Units (Tab

Redeemable Preferred Units (Tables)	9 Months Ended
	Sep. 30, 2022
Temporary Equity Disclosure [Abstract]
Summary of Issuances of Preferred Units	The following table summarizes the outstanding Preferred Units as of September 30, 2022 and December 31, 2021: September 30, 2022 Month Issued Units Purchase Price Distribution Redemption Earliest Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 March 2024 (1) September 2016 1,000,000 10,000,000 3.00 % 10.00 September 2023 (2) December 2016 700,000 7,000,000 3.00 % 10.00 December 2023 (1) March 2017 1,000,000 10,000,000 3.00 % 10.00 March 2023 August 2017 2,000,000 20,000,000 3.00 % 10.00 August 2023 October 2017 1,750,000 17,500,000 3.00 % 10.00 October 2023 Total Series A Preferred Units 7,450,000 74,500,000 Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % 10.00 April 2028 Total Series A-1 Preferred Units 2,000,000 20,000,000 Redeemable Preferred Units 9,450,000 $ 94,500,000 (1) The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. Accordingly, the holder's next optional redemption date is on the next anniversary of the sale of the Series A Preferred Units. (2) The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. In October 2022, the holder exchanged its Series A Preferred Units for newly issued Series A-1 Preferred Units. See Note 24 below for further information regarding this exchange, which occurred after quarter end. December 31, 2021 Month Issued Units Purchase Price Distribution Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 May 2016 1,386,900 13,869,000 3.00 % 10.00 September 2016 1,000,000 10,000,000 3.00 % 10.00 December 2016 700,000 7,000,000 3.00 % 10.00 March 2017 1,613,100 16,131,000 3.00 % 10.00 August 2017 2,000,000 20,000,000 3.00 % 10.00 October 2017 1,750,000 17,500,000 3.00 % 10.00 Redeemable Preferred Units 9,450,000 $ 94,500,000

Restricted Unit Awards (Tables)

Restricted Unit Awards (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of RUA Activity	The following table summarizes the RUA activity for the nine months ended September 30, 2022 and for the year ended December 31, 2021 (all amounts are presented giving effect to the 1-for-3 Reverse Unit Split which became effective on April 1, 2022): Restricted Units Weighted average Unvested as of January 1, 2021 44,271 $ 14.94 Granted 88,775 19.47 Vested ( 55,523 ) 17.67 Unvested as of December 31, 2021 77,523 18.18 Granted 91,813 19.43 Forfeited ( 902 ) 18.48 Unvested as of September 30, 2022 168,434 $ 18.86

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Summary of Transactions with Related Parties Reflected in the Partnership's Consolidated Financial Statements	The following table summarizes transactions with related parties that are reflected in the Partnership's condensed consolidated financial statements for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Partnership administrative fees paid to AFCA 2 (1) $ 1,329,000 $ 1,003,000 $ 3,809,000 $ 2,956,000 Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities (2) 139,000 117,000 314,000 144,000 Referral fees paid to an affiliate (3) - 9,750 108,000 9,750 (1) AFCA 2 is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its MRBs, taxable MRBs, GILs, taxable GILs, property loans collateralized by real property, and other investments for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to AFCA 2. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s condensed consolidated statements of operations. (2) The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s condensed consolidated statements of operations. (3) The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2022, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as loan origination costs that are deferred and amortized as a yield adjustment to the related investment asset.
Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates	For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Non-Partnership property administrative fees received by AFCA 2 (1) $ 9,000 $ 8,000 $ 26,000 $ 26,000 Investment/mortgage placement fees earned by AFCA 2 (2) 1,627,000 1,349,000 2,861,000 4,131,000 (1) AFCA 2 received administrative fees directly from the owners of certain properties financed by certain MRBs held by the Partnership. These administrative fees equal 0.45 % per annum of the outstanding principal balance of the MRBs. The disclosed amounts represent administrative fees received by AFCA 2 during the periods specified. (2) AFCA 2 received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements [Abstract]
Summary of Range of Effective Yields and Weighted Average Effective Yields of Partnership's Investments	The range of effective yields and weighted average effective yields of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of September 30, 2022 and December 31, 2021 are as follows: Range of Effective Yields Weighted Average Effective Yields (1) Security Type September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Mortgage revenue bonds 3.2 % - 21.0 % 0.9 % - 19.1 % 5.5 % 3.1 % Taxable mortgage revenue bonds 6.1 % - 11.2 % 4.0 % - 8.1 % 6.8 % 5.9 % Bond purchase commitments 5.2 % 3.2 % - 3.3 % 5.2 % 3.2 %
Summary of Assets Measured at Fair Value on Recurring Basis	Assets measured at fair value on a recurring basis as of September 30, 2022 are summarized as follows: Fair Value Measurements as of September 30, 2022 Description Assets and Liabilities Quoted Prices in Significant Other Significant Assets and Liabilities Mortgage revenue bonds, held in trust $ 675,905,519 $ - $ - $ 675,905,519 Mortgage revenue bonds 19,163,911 - - 19,163,911 Taxable mortgage revenue bonds (reported within other assets) 13,528,034 - - 13,528,034 Derivative financial instruments (reported within other assets) 6,855,221 - 6,471,662 383,559 Bond purchase commitments (reported within other liabilities) ( 82,911 ) - - ( 82,911 ) Total Assets and Liabilities at Fair Value, net $ 715,369,774 $ - $ 6,471,662 $ 708,898,112 Assets measured at fair value on a recurring basis as of December 31, 2021 are summarized as follows: Fair Value Measurements as of December 31, 2021 Description Assets Quoted Prices in Significant Other Significant Assets Mortgage revenue bonds, held in trust $ 750,934,848 $ - $ - $ 750,934,848 Mortgage revenue bonds 42,574,996 - - 42,574,996 Bond purchase commitments (reported within other assets) 964,404 964,404 Taxable mortgage revenue bonds (reported within other assets) 3,428,443 - - 3,428,443 Derivative instruments (reported within other assets) 343,418 - - 343,418 Total Assets at Fair Value, net $ 798,246,109 $ - $ - $ 798,246,109
Summary of Activity Related to Level 3 Assets and Liabilities	The following tables summarize the activity related to Level 3 assets for the three and nine months ended September 30, 2022: For the Three Months Ended September 30, 2022 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Derivative Total Beginning Balance July 1, 2022 $ 727,278,997 $ 8,953 $ 11,457,256 $ 398,280 $ 739,143,486 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 1,659,492 - ( 4,860 ) 1,298,340 2,952,972 Included in other comprehensive income ( 22,467,010 ) ( 91,864 ) ( 221,686 ) - ( 22,780,560 ) Purchases 1,623,437 - 2,300,000 - 3,923,437 Settlements ( 13,025,486 ) - ( 2,676 ) ( 1,313,061 ) ( 14,341,223 ) Ending Balance September 30, 2022 $ 695,069,430 $ ( 82,911 ) $ 13,528,034 $ 383,559 $ 708,898,112 Total amount of gains (losses) for the $ 17,345 $ - $ - $ ( 14,509 ) $ 2,836 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Nine Months Ended September 30, 2022 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Derivative Total Beginning Balance January 1, 2022 $ 793,509,844 $ 964,404 $ 3,428,443 $ 343,418 $ 798,246,109 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 1,877,774 - ( 14,932 ) 4,497,078 6,359,920 Included in other comprehensive income ( 89,766,975 ) ( 1,047,315 ) ( 553,379 ) - ( 91,367,669 ) Purchases 91,567,687 - 10,675,750 - 102,243,437 Settlements ( 101,258,367 ) - ( 7,848 ) ( 4,456,937 ) ( 105,723,152 ) Other (2) ( 860,533 ) - - - ( 860,533 ) Ending Balance September 30, 2022 $ 695,069,430 $ ( 82,911 ) $ 13,528,034 $ 383,559 $ 708,898,112 Total amount of gains for the $ 39,968 $ - $ - $ 107,617 $ 147,585 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. (2) The other line is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan (Notes 6 and 10). The following tables summarize the activity related to Level 3 assets and liabilities for the three and nine months ended September 30, 2021: For the Three Months Ended September 30, 2021 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Interest Rate Total Beginning Balance July 1, 2021 $ 777,990,096 $ 392,515 $ 1,462,862 $ 321,372 $ 780,166,845 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 34,331 - - 1,751,136 1,785,467 Included in other comprehensive income ( 4,561,683 ) 8,708 ( 24,463 ) - ( 4,577,438 ) Purchases 3,995,000 - 1,000,000 - 4,995,000 Settlements ( 33,819,427 ) - ( 2,445 ) ( 1,760,707 ) ( 35,582,579 ) Ending Balance September 30, 2021 $ 743,638,317 $ 401,223 $ 2,435,954 $ 311,801 $ 746,787,295 Total amount of losses for the $ - $ - $ - $ ( 9,261 ) $ ( 9,261 ) (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Nine Months Ended September 30, 2021 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Interest Rate Total Beginning Balance January 1, 2021 $ 794,432,485 $ 431,879 $ 1,510,437 $ 321,503 $ 796,696,304 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 103,292 - - 5,326,329 5,429,621 Included in earnings (provision for credit loss) ( 900,080 ) - - - ( 900,080 ) Included in other comprehensive income ( 18,884,461 ) ( 30,656 ) ( 67,309 ) - ( 18,982,426 ) Purchases 12,946,500 - 1,000,000 - 13,946,500 Settlements ( 44,059,419 ) - ( 7,174 ) ( 5,336,031 ) ( 49,402,624 ) Ending Balance September 30, 2021 $ 743,638,317 $ 401,223 $ 2,435,954 $ 311,801 $ 746,787,295 Total amount of losses for the $ ( 900,080 ) $ - $ - $ ( 11,304 ) $ ( 911,384 ) (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership.
Summary of Fair Value of Partnership's Financial Liabilities	The table below summarizes the fair value of the Partnership’s financial liabilities as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Financial Liabilities: Debt financing $ 962,615,366 $ 952,670,119 $ 820,078,714 $ 854,428,834 Secured lines of credit 30,942,000 30,942,000 45,714,000 45,714,000 Mortgages payable and other secured financing 26,230,855 26,231,893 26,824,543 26,825,840

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Summary of Partnership Reportable Segment Information	The following table details certain financial information for the Partnership’s reportable segments for the three and nine months ended September 30, 2022 and 2021: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Total revenues Affordable Multifamily MRB Investments $ 18,423,127 $ 12,795,214 $ 45,443,505 $ 34,624,484 Seniors and Skilled Nursing MRB Investments 194,296 - 664,579 - Market-Rate Joint Venture Investments 2,072,781 3,074,909 7,149,916 8,556,926 MF Properties 1,914,200 1,811,778 5,785,742 5,294,475 Total revenues $ 22,604,404 $ 17,681,901 $ 59,043,742 $ 48,475,885 Interest expense Affordable Multifamily MRB Investments $ 7,530,723 $ 5,186,465 $ 17,309,510 $ 15,166,356 Seniors and Skilled Nursing MRB Investments 5,750 - 5,750 - Market-Rate Joint Venture Investments 226,247 193,876 619,928 234,375 MF Properties 273,262 283,111 814,891 847,292 Total interest expense $ 8,035,982 $ 5,663,452 $ 18,750,079 $ 16,248,023 Depreciation expense Affordable Multifamily MRB Investments $ 5,962 $ 5,912 $ 17,885 $ 17,534 Seniors and Skilled Nursing MRB Investments - - - - Market-Rate Joint Venture Investments - - - - MF Properties 682,526 675,013 2,038,627 2,031,735 Total depreciation expense $ 688,488 $ 680,925 $ 2,056,512 $ 2,049,269 Net income (loss) Affordable Multifamily MRB Investments $ 6,375,471 $ 3,453,537 $ 16,099,041 $ 7,293,774 Seniors and Skilled Nursing MRB Investments 187,921 - 656,954 - Market-Rate Joint Venture Investments 12,423,255 9,836,133 46,185,380 23,546,743 MF Properties ( 470,054 ) ( 301,286 ) ( 554,083 ) ( 594,599 ) Net income $ 18,516,593 $ 12,988,384 $ 62,387,292 $ 30,245,918 The following table details total assets for the Partnership’s reportable segments as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 Total assets Affordable Multifamily MRB Investments $ 1,388,462,019 $ 1,304,626,248 Seniors and Skilled Nursing MRB Investments ( 903,056 ) 13,533,020 Market-Rate Joint Venture Investments 107,181,273 112,052,513 MF Properties 61,772,595 66,501,994 Consolidation/eliminations ( 106,425,836 ) ( 110,804,292 ) Total assets $ 1,450,086,995 $ 1,385,909,483

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Summary of Initial Terms of TOB Trust Financings	The following table summarizes the initial terms of the TOB Trust financings: TOB Trusts Securitization TOB Stated Maturity Reset SIFMA Based Rates Facility Fees Interest Rate Poppy Grove I $ 5,397,000 October 2023 Weekly 2.60 % 1.25 % 3.85 % Poppy Grove II 2,833,000 October 2023 Weekly 2.60 % 1.25 % 3.85 % Poppy Grove III 5,880,000 October 2023 Weekly 2.60 % 1.25 % 3.85 % Total TOB Trust Financing $ 14,110,000
Summary of Terms of Interest Rate Swap Agreement	The following table summarizes the terms of the interest rate swap agreement: Trade Date Initial Notional Amount (1) Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty October 2022 34,436,088 4/1/2023 4/1/2025 3.92 % SOFR TOB Trusts Mizuho Capital Markets (1) The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 Rating Preferredunit
Segment Reporting Information [Line Items]
Number of partnership preferred units | Preferredunit	3
Tax-exempt and Other Investments [Member]
Segment Reporting Information [Line Items]
Assets percentage	25%
Minimum [Member]
Segment Reporting Information [Line Items]
Required rating for tax exempted investments other than mortgage revenue bonds	1
Maximum [Member]
Segment Reporting Information [Line Items]
Required rating for tax exempted investments other than mortgage revenue bonds	4

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)			9 Months Ended	10 Months Ended
	Sep. 14, 2022 $ / shares	Apr. 01, 2022 shares	Sep. 30, 2022 Property $ / shares shares	Nov. 02, 2022	Oct. 31, 2022	Jun. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Sep. 30, 2021 $ / shares	Jun. 30, 2021 $ / shares	Mar. 31, 2021 $ / shares
Summary Of Significant Accounting Policies [Line Items]
Supplemental distribution payable | $ / shares			$ 0.366			$ 0.564	$ 0.327	$ 0.327	$ 0.327	$ 0.267
Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase in short-term interest rates in basis points				3.75%
Restricted Unit Awards [Member]
Summary Of Significant Accounting Policies [Line Items]
Supplemental distribution payable | $ / shares			$ 0.20
Restricted Unit Awards [Member] | Greystone Manager [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Approved grant of restricted units and other awards to employees | shares			1,000,000
Greens Hold Co [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of Real Estate Properties | Property			1
Ownership interest percentage in MF property			100%
Lindo Paseo LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership interest percentage in MF property			100%
Beneficial Unit Certificates [Member]
Summary Of Significant Accounting Policies [Line Items]
BUCs reverse split, description			On April 1, 2022, the Partnership effected a one-for-three reverse unit split (“Reverse Unit Split”) of its outstanding BUCs.
Supplemental distribution payable | $ / shares	$ 0.20
Distribution payable, record date	Sep. 30, 2022
BUCs units, issued | shares		22,017,915	66,049,908
BUCs units, Outstanding | shares		22,017,915	66,049,908
BUCs reverse stock split conversion ratio		0.333
Beneficial Unit Certificates [Member] | Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Partnership distribution paid at ratio					0.01044

Partnership Income, Expenses _2

Partnership Income, Expenses and Cash Distributions - Additional Information (Details)	Sep. 30, 2022
Tier 1 [Member] | Limited Partner [Member]
Percent of regular allocations	99%
Tier 1 [Member] | General Partner [Member]
Percent of regular allocations	1%
Tier 2 [Member] | Limited Partner [Member]
Percent of special allocations	75%
Tier 2 [Member] | General Partner [Member]
Percent of special allocations	25%
Tier 3 [Member] | Limited Partner [Member]
Percent of special allocations	100%

Net Income per BUC (Details)

Net Income per BUC (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Dilutive BUCs	0	0	0	0

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) $ in Millions	Sep. 30, 2022 USD ($) Property	Dec. 31, 2021 Property
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Variable Interest Entities | Property	31	30
Investments in Unconsolidated Entities [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	$ 8.9
Mortgage Revenue Bonds [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	47
Taxable Mortgage Revenue Bonds [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	23.5
Governmental Issuer Loans [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	122.8
Taxable Governmental Issuer Loans [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	63.2
Property Loans [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	$ 64.1

Variable Interest Entities - Va

Variable Interest Entities - Variable Interest Entities Property Asset Carrying Value and Maximum Exposure (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 561,500,105	$ 393,880,548
Mortgage Revenue Bonds [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	48,557,708	51,045,000
Taxable Mortgage Revenue Bonds [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	2,000,000	2,000,000
Governmental Issuer Loans [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	281,275,255	184,767,450
Taxable Governmental Issuer Loans [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	4,000,000	1,000,000
Property Loans [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	122,563,896	47,274,576
Investments in Unconsolidated Entities [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 103,103,246	$ 107,793,522

Mortgage Revenue Bonds - Schedu

Mortgage Revenue Bonds - Schedule of Investments in MRBs (Details) - USD ($)		Sep. 30, 2022		Dec. 31, 2021
Mortgage Revenue Bonds Held In Trust [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		$ 650,074,793		$ 639,116,502
Cumulative Unrealized Gain		27,685,959		111,818,346
Cumulative Unrealized Loss		(1,855,233)
Estimated Fair Value		675,905,519		750,934,848
Mortgage Revenue Bonds Held In Trust [Member] | Courtyard [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,898,954	[1]	9,970,209	[2]
Cumulative Unrealized Gain		389,990	[1]	2,060,480	[2]
Estimated Fair Value		10,288,944	[1]	12,030,689	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Glenview Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,386,923	[3]	4,429,350	[4]
Cumulative Unrealized Gain		221,254	[3]	863,955	[4]
Estimated Fair Value		4,608,177	[3]	5,293,305	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Harmony Court Bakersfield [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,609,296	[1]	3,635,277	[2]
Cumulative Unrealized Gain		118,091	[1]	720,308	[2]
Estimated Fair Value		3,727,387	[1]	4,355,585	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Harmony Terrace [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,682,143	[1]	6,730,004	[2]
Cumulative Unrealized Gain		329,629	[1]	1,425,757	[2]
Estimated Fair Value		7,011,772	[1]	8,155,761	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Harden Ranch [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,472,099	[5]	6,538,111	[6]
Cumulative Unrealized Gain		452,521	[5]	1,285,747	[6]
Estimated Fair Value		6,924,620	[5]	7,823,858	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Las Palmas II [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	1,637,465		1,649,370
Cumulative Unrealized Gain	[1]	70,328		332,704
Estimated Fair Value	[1]	1,707,793		1,982,074
Mortgage Revenue Bonds Held In Trust [Member] | Lutheran Gardens [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	10,352,000
Cumulative Unrealized Gain	[7]	63,494
Estimated Fair Value	[7]	10,415,494
Mortgage Revenue Bonds Held In Trust [Member] | Montclair Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[3]	2,376,641		2,399,626
Cumulative Unrealized Gain	[3]	130,702		446,912
Estimated Fair Value	[3]	2,507,343		2,846,538
Mortgage Revenue Bonds Held In Trust [Member] | Montecito at Williams Ranch Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,522,733	[7]	7,568,334	[8]
Cumulative Unrealized Gain		627,722	[7]	1,983,454	[8]
Estimated Fair Value		8,150,455	[7]	9,551,788	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Montevista [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,667,855	[7]	6,701,776	[8]
Cumulative Unrealized Gain		565,132	[7]	2,114,978	[8]
Estimated Fair Value		7,232,987	[7]	8,816,754	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Ocotillo Springs [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,090,000	[7],[9]	15,000,000	[8]
Cumulative Unrealized Gain	[8]			271,172
Cumulative Unrealized Loss	[7],[9]	(487,801)
Estimated Fair Value		10,602,199	[7],[9]	15,271,172	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur J -1 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	9,088,500
Cumulative Unrealized Gain	[7]	172,857
Estimated Fair Value	[7]	9,261,357
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur J -2 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	7,500,000
Cumulative Unrealized Gain	[7]	217,798
Estimated Fair Value	[7]	7,717,798
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur J -3 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cumulative Unrealized Gain	[10]	656,481
Estimated Fair Value	[10]	656,481
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Mayer [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		25,069,208	[7]	24,000,000	[8]
Estimated Fair Value		25,069,208	[7]	24,000,000	[8]
Mortgage Revenue Bonds Held In Trust [Member] | San Vicente [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	3,376,366		3,400,913
Cumulative Unrealized Gain	[1]	111,397		671,681
Estimated Fair Value	[1]	3,487,763		4,072,594
Mortgage Revenue Bonds Held In Trust [Member] | Santa Fe Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[3]	2,879,212		2,907,057
Cumulative Unrealized Gain	[3]	145,213		567,028
Estimated Fair Value	[3]	3,024,425		3,474,085
Mortgage Revenue Bonds Held In Trust [Member] | Seasons at Simi Valley [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	4,150,500		4,188,582
Cumulative Unrealized Gain	[1]	384,743		1,011,623
Estimated Fair Value	[1]	4,535,243		5,200,205
Mortgage Revenue Bonds Held In Trust [Member] | Seasons Lakewood [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	7,117,935		7,168,917
Cumulative Unrealized Gain	[1]	351,126		1,518,742
Estimated Fair Value	[1]	7,469,061		8,687,659
Mortgage Revenue Bonds Held In Trust [Member] | Seasons San Juan Capistrano [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	11,984,278		12,070,116
Cumulative Unrealized Gain	[1]	591,182		2,557,065
Estimated Fair Value	[1]	12,575,460		14,627,181
Mortgage Revenue Bonds Held In Trust [Member] | Summerhill [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	6,215,150		6,259,888
Cumulative Unrealized Gain	[1]	80,688		1,187,464
Estimated Fair Value	[1]	6,295,838		7,447,352
Mortgage Revenue Bonds Held In Trust [Member] | Sycamore Walk [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	3,440,619		3,474,617
Cumulative Unrealized Gain	[1]	130,469		696,090
Estimated Fair Value	[1]	3,571,088		4,170,707
Mortgage Revenue Bonds Held In Trust [Member] | The Village at Madera [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	2,985,168		3,006,656
Cumulative Unrealized Gain	[1]	137,695		621,367
Estimated Fair Value	[1]	3,122,863		3,628,023
Mortgage Revenue Bonds Held In Trust [Member] | Tyler Park Townhomes [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		5,635,996	[5]	5,694,168	[6]
Cumulative Unrealized Gain		231,647	[5]	691,137	[6]
Estimated Fair Value		5,867,643	[5]	6,385,305	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Vineyard Gardens | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,916,109	[7]	3,939,476	[8]
Cumulative Unrealized Gain		312,891	[7]	987,782	[8]
Estimated Fair Value		4,229,000	[7]	4,927,258	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Westside Village Market [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,683,114	[5]	3,721,129	[6]
Cumulative Unrealized Gain		193,646	[5]	701,915	[6]
Estimated Fair Value		3,876,760	[5]	4,423,044	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Brookstone [Member] | IL [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,298,854	[11]	7,334,161	[12]
Cumulative Unrealized Gain		1,232,165	[11]	1,903,086	[12]
Estimated Fair Value		8,531,019	[11]	9,237,247	[12]
Mortgage Revenue Bonds Held In Trust [Member] | Copper Gate Apartments [Member] | IN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,900,000	[5]	4,900,000	[6]
Cumulative Unrealized Gain		135,868	[5]	433,436	[6]
Estimated Fair Value		5,035,868	[5]	5,333,436	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Renaissance [Member] | Series A [Member] | LA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[3]	10,622,933		10,732,295
Cumulative Unrealized Gain	[3]	447,502		4,172,381
Estimated Fair Value	[3]	11,070,435		14,904,676
Mortgage Revenue Bonds Held In Trust [Member] | Live 929 Apartments [Member] | Series 2022A [Member] | MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	58,050,821
Cumulative Unrealized Gain	[7]	798,344
Estimated Fair Value	[7]	58,849,165
Mortgage Revenue Bonds Held In Trust [Member] | Live 929 Apartments [Member] | 2014 Series A [Member] | MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[8]			36,169,147
Cumulative Unrealized Gain	[8]			573,155
Estimated Fair Value	[8]			36,742,302
Mortgage Revenue Bonds Held In Trust [Member] | Jackson Manor Apartments [member] | MS [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,900,000	[7]	4,900,000	[8]
Estimated Fair Value		6,900,000	[7]	4,900,000	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Gateway Village [Member] | NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[8]			2,600,000
Cumulative Unrealized Gain	[8]			90,861
Estimated Fair Value	[8]			2,690,861
Mortgage Revenue Bonds Held In Trust [Member] | Greens Property [Member] | Series A [Member] | NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,629,000	[5]	7,719,000	[6]
Cumulative Unrealized Gain		536	[5]	281,953	[6]
Estimated Fair Value		7,629,536	[5]	8,000,953	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Lynnhaven Apartments [Member] | NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[8]			3,450,000
Cumulative Unrealized Gain	[8]			115,328
Estimated Fair Value	[8]			3,565,328
Mortgage Revenue Bonds Held In Trust [Member] | Silver Moon [Member] | Series A [Member] | NM [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[3]	7,575,818		7,629,704
Cumulative Unrealized Gain	[3]	609,702		1,868,323
Estimated Fair Value	[3]	8,185,520		9,498,027
Mortgage Revenue Bonds Held In Trust [Member] | Village at Avalon [Member] | NM [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		15,974,957	[13]	16,069,382	[14]
Cumulative Unrealized Gain		863,641	[13]	4,124,498	[14]
Estimated Fair Value		16,838,598	[13]	20,193,880	[14]
Mortgage Revenue Bonds Held In Trust [Member] | Ohio Properties [Member] | Series A [Member] | OH [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[12]			13,580,000
Estimated Fair Value	[12]			13,580,000
Mortgage Revenue Bonds Held In Trust [Member] | Bridle Ridge [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[12]			7,145,000
Estimated Fair Value	[12]			7,145,000
Mortgage Revenue Bonds Held In Trust [Member] | Columbia Gardens [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	12,588,742		12,725,440
Cumulative Unrealized Gain	[1]	428,517		2,003,599
Estimated Fair Value	[1]	13,017,259		14,729,039
Mortgage Revenue Bonds Held In Trust [Member] | Companion at Thornhill Apartments [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	10,821,542		10,924,609
Cumulative Unrealized Gain	[1]	448,643		1,793,226
Estimated Fair Value	[1]	11,270,185		12,717,835
Mortgage Revenue Bonds Held In Trust [Member] | Cross Creek [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[12]			6,120,285
Cumulative Unrealized Gain	[12]			1,845,064
Estimated Fair Value	[12]			7,965,349
Mortgage Revenue Bonds Held In Trust [Member] | The Palms at Premier Park [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		18,200,634	[5]	18,385,572	[6]
Cumulative Unrealized Gain		643,425	[5]	2,181,632	[6]
Estimated Fair Value		18,844,059	[5]	20,567,204	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Village at River's Edge [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	9,669,777		9,728,355
Cumulative Unrealized Gain	[1]	44,189		2,370,569
Estimated Fair Value	[1]	9,713,966		12,098,924
Mortgage Revenue Bonds Held In Trust [Member] | Willow Run [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	12,414,487		12,549,146
Cumulative Unrealized Gain	[1]	477,489		1,974,479
Estimated Fair Value	[1]	12,891,976		14,523,625
Mortgage Revenue Bonds Held In Trust [Member] | Arbors at Hickory Ridge [Member] | TN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,633,673	[5]	10,755,889	[6]
Cumulative Unrealized Gain		1,699,911	[5]	3,598,292	[6]
Estimated Fair Value		12,333,584	[5]	14,354,181	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at Copperfield [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		13,569,835	[7]	13,678,286	[8]
Cumulative Unrealized Gain		481,953	[7]	2,549,711	[8]
Estimated Fair Value		14,051,788	[7]	16,227,997	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at the Crest [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		8,928,536	[5]	9,022,172	[6]
Cumulative Unrealized Gain		591,677	[5]	1,926,825	[6]
Estimated Fair Value		9,520,213	[5]	10,948,997	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at the Oaks [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,221,895	[5]	7,295,334	[6]
Cumulative Unrealized Gain		432,723	[5]	1,578,333	[6]
Estimated Fair Value		7,654,618	[5]	8,873,667	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at the Parkway [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[3]	12,468,173		12,579,783
Cumulative Unrealized Gain	[3]	682,039		2,353,247
Estimated Fair Value	[3]	13,150,212		14,933,030
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at Wilcrest [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	5,142,693		5,183,794
Cumulative Unrealized Gain	[7]	4,874		772,242
Estimated Fair Value	[7]	5,147,567		5,956,036
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at Wood Hollow [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		39,048,349	[7]	39,360,426	[8]
Cumulative Unrealized Gain		1,386,861	[7]	7,200,790	[8]
Estimated Fair Value		40,435,210	[7]	46,561,216	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar in 09 [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,235,826	[5]	6,299,237	[6]
Cumulative Unrealized Gain		295,681	[5]	1,288,060	[6]
Estimated Fair Value		6,531,507	[5]	7,587,297	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar on the Boulevard [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		15,210,725	[5]	15,370,243	[3],[6]
Cumulative Unrealized Gain		824,271	[5]	3,165,575	[3],[6]
Estimated Fair Value		16,034,996	[5]	18,535,818	[3],[6]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar on the Hills [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,944,271	[5]	4,994,549	[6]
Cumulative Unrealized Gain		327,489	[5]	1,100,478	[6]
Estimated Fair Value		5,271,760	[5]	6,095,027	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Bruton Apartments [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	17,419,883	[9]	17,532,185
Cumulative Unrealized Gain	[1]			4,452,765
Cumulative Unrealized Loss	[9]	(533,140)
Estimated Fair Value	[1]	16,886,743	[9]	21,984,950
Mortgage Revenue Bonds Held In Trust [Member] | Concord at Gulfgate [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	18,456,524		18,606,719
Cumulative Unrealized Gain	[1]	1,239,586		4,211,979
Estimated Fair Value	[1]	19,696,110		22,818,698
Mortgage Revenue Bonds Held In Trust [Member] | Concord at Little York [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	12,929,668		13,034,887
Cumulative Unrealized Gain	[1]	909,327		3,055,517
Estimated Fair Value	[1]	13,838,995		16,090,404
Mortgage Revenue Bonds Held In Trust [Member] | Concord at Williamcrest [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	20,029,441		20,192,436
Cumulative Unrealized Gain	[1]	1,156,304		4,651,973
Estimated Fair Value	[1]	21,185,745		24,844,409
Mortgage Revenue Bonds Held In Trust [Member] | Crossing at 1415 [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	7,191,959		7,253,698
Cumulative Unrealized Gain	[1]	353,742		1,549,224
Estimated Fair Value	[1]	7,545,701		8,802,922
Mortgage Revenue Bonds Held In Trust [Member] | Decatur-Angle [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	21,919,796	[9]	22,074,594
Cumulative Unrealized Gain	[1]			4,731,759
Cumulative Unrealized Loss	[1],[9]	(834,292)
Estimated Fair Value	[1]	21,085,504	[9]	26,806,353
Mortgage Revenue Bonds Held In Trust [Member] | Esperanza at Palo Alto [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	18,955,815		19,071,622
Cumulative Unrealized Gain	[1]	1,118,258		5,317,911
Estimated Fair Value	[1]	20,074,073		24,389,533
Mortgage Revenue Bonds Held In Trust [Member] | Heights at 515 [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	6,584,362		6,640,885
Cumulative Unrealized Gain	[1]	343,057		1,418,341
Estimated Fair Value	[1]	6,927,419		8,059,226
Mortgage Revenue Bonds Held In Trust [Member] | Heritage Square [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[3]	10,358,615		10,455,924
Cumulative Unrealized Gain	[3]	432,270		1,823,426
Estimated Fair Value	[3]	10,790,885		12,279,350
Mortgage Revenue Bonds Held In Trust [Member] | Oaks at Georgetown [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	11,940,699		12,026,225
Cumulative Unrealized Gain	[1]	311,811		2,181,690
Estimated Fair Value	[1]	12,252,510		14,207,915
Mortgage Revenue Bonds Held In Trust [Member] | Runnymede [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,605,000	[11]	9,675,000	[12]
Cumulative Unrealized Gain		439	[11]	99,489	[12]
Estimated Fair Value		9,605,439	[11]	9,774,489	[12]
Mortgage Revenue Bonds Held In Trust [Member] | Southpark [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,419,072	[11]	11,365,100	[12]
Cumulative Unrealized Gain		1,297,785	[11]	1,542,509	[12]
Estimated Fair Value		12,716,857	[11]	12,907,609	[12]
Mortgage Revenue Bonds Held In Trust [Member] | 15 West Apartments [Member] | WA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,474,154	[1]	9,531,842	[2]
Cumulative Unrealized Gain		979,184	[1]	2,799,259	[2]
Estimated Fair Value		10,453,338	[1]	12,331,101	[2]
Mortgage Revenue Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		21,764,051		41,395,781
Cumulative Unrealized Gain		241,987		1,179,215
Cumulative Unrealized Loss		(2,842,127)
Estimated Fair Value		19,163,911		42,574,996
Mortgage Revenue Bonds [Member] | Lutheran Gardens [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				10,352,000
Estimated Fair Value				10,352,000
Mortgage Revenue Bonds [Member] | Live 929 Apartments [Member] | 2014 Series B [Member] | MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				17,344,000
Estimated Fair Value				17,344,000
Mortgage Revenue Bonds [Member] | Gateway Village [Member] | NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,590,992
Estimated Fair Value		2,590,992
Mortgage Revenue Bonds [Member] | Greens Property [Member] | Series B [Member] | NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		916,502		920,637
Cumulative Unrealized Gain		114		46,672
Estimated Fair Value		916,616		967,309
Mortgage Revenue Bonds [Member] | Lynnhaven Apartments [Member] | NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,438,048
Estimated Fair Value		3,438,048
Mortgage Revenue Bonds [Member] | Ohio Properties [Member] | Series B [Member] | OH [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				3,465,270
Estimated Fair Value				3,465,270
Mortgage Revenue Bonds [Member] | Avistar at the Crest [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		726,263		730,612
Cumulative Unrealized Gain		28,394		122,646
Estimated Fair Value		754,657		853,258
Mortgage Revenue Bonds [Member] | Avistar at the Oaks [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		531,895		534,953
Cumulative Unrealized Gain		14,208		86,437
Estimated Fair Value		546,103		621,390
Mortgage Revenue Bonds [Member] | Avistar at the Parkway [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		123,287		123,598
Cumulative Unrealized Gain		20,319		37,590
Estimated Fair Value		143,606		161,188
Mortgage Revenue Bonds [Member] | Avistar in 09 [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		438,765		441,288
Cumulative Unrealized Gain		11,720		71,303
Estimated Fair Value		450,485		512,591
Mortgage Revenue Bonds [Member] | Avistar on the Boulevard [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		431,548		434,132
Cumulative Unrealized Gain		14,520		69,950
Estimated Fair Value		446,068		504,082
Mortgage Revenue Bonds [Member] | Solano Vista [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,635,798		2,649,291
Cumulative Unrealized Gain		152,712		744,617
Estimated Fair Value		2,788,510		3,393,908
Mortgage Revenue Bonds [Member] | Provision Center 2014-1 [Member] | TN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,296,204		4,300,000
Estimated Fair Value		4,296,204		4,300,000
Mortgage Revenue Bonds [Member] | Meadow Valley [Member] | MI [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		1,833,437	[15]	100,000
Cumulative Unrealized Loss	[15]	(2,632,998)
Estimated Fair Value		(799,561)	[15]	$ 100,000
Mortgage Revenue Bonds [Member] | CCBA Senior Garden Apartments [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[16]	3,801,312
Cumulative Unrealized Loss	[16]	(209,129)
Estimated Fair Value	[16]	$ 3,592,183
[1] MRBs owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 MRBs owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 MRBs owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 MRBs owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 MRBs held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. The Partnership has an MRB funding commitment of $ 26.1 million as of September 30, 2022. The unfunded MRB commitment is accounted for as an available-for-sale security and reported at fair value. The reported unrealized loss is based on the fair value of the funding commitment outstanding as of September 30, 2022. The Partnership will partially fund the commitment with proceeds from a debt financing transaction with Mizuho Capital Markets, LLC. MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 MRBs owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 MRB held by Morgan Stanley in a debt financing transaction, Note 15 MRB held by Morgan Stanley in a debt financing transaction Note 15 The Partnership has a remaining MRB funding commitment of $ 42.3 million as of September 30, 2022. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining $ 42.3 million funding commitment outstanding as of September 30, 2022 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not other-than-temporary. As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary.

Mortgage Revenue Bonds - Sche_2

Mortgage Revenue Bonds - Schedule of Investments in MRBs (Parenthetical) (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Remaining partnership commitment fund amount	$ 375,734,668
Mortgage Revenue Bonds Held In Trust [Member]
Schedule Of Available For Sale Securities [Line Items]
Partnership funded amount	650,074,793	$ 639,116,502
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur J -3 [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB	26.1
Mortgage Revenue Bond [Member] | Meadow Valley [Member]
Schedule Of Available For Sale Securities [Line Items]
Remaining partnership commitment fund amount	$ 42,300,000

Mortgage Revenue Bonds - Additi

Mortgage Revenue Bonds - Additional Information (Details) - USD ($)	1 Months Ended	9 Months Ended
	Jul. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Available For Sale Securities [Line Items]
Redemption of contingent interest income	$ 1,800,000
Provision for credit loss			$ 900,080
Mortgage Revenue Bond [Member]
Schedule Of Available For Sale Securities [Line Items]
Carrying value, inclusive of accrued interest		$ 4,600,000
Provision Center 2014-1 [Member]
Schedule Of Available For Sale Securities [Line Items]
Provision for credit loss			$ 900,000
Rosewood Townhomes and South Pointe Apartments [Member] | Series A MRB [Member]
Schedule Of Available For Sale Securities [Line Items]
Redemption price	106%

Mortgage Revenue Bonds - Sche_3

Mortgage Revenue Bonds - Schedule of MRBs Acquisitions (Details)		1 Months Ended	9 Months Ended
		Jan. 31, 2022 USD ($) Unit	Sep. 30, 2022 USD ($) Unit	Sep. 30, 2021 USD ($) Unit
Schedule Of Available For Sale Securities [Line Items]
Principal Acquired | $			$ 20,307,000
Committed to funding amount | $			$ 554,917,871
Jackson Manor Apartments [Member] | Jackson, MS [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[1]			April
Units | Unit	[1]			60
Maturity Date	[1]			May 01, 2038
Interest Rate	[1]			5%
Principal Acquired | $	[1]			$ 4,150,000
Residency at the Entrepreneur [Member] | MRB and Taxable MRB Commitments [Member] | Series J-1 [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April
Units | Unit			200
Maturity Date			Mar. 31, 2040
Interest Rate			6%
Principal Acquired | $			$ 9,000,000
Residency at the Entrepreneur [Member] | MRB and Taxable MRB Commitments [Member] | Series J-2 [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April
Units | Unit			200
Maturity Date			Mar. 31, 2040
Interest Rate			6%
Principal Acquired | $			$ 7,500,000
Residency at the Entrepreneur [Member] | MRB and Taxable MRB Commitments [Member] | Series J-3 [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April
Units | Unit			200
Maturity Date			Mar. 31, 2040
Interest Rate			6%
Residency at the Entrepreneur [Member] | MRB and Taxable MRB Commitments [Member] | Series J-4 [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April
Units | Unit			200
Maturity Date			Mar. 31, 2040
Interest Rate	[2]		3.60%
CCBA Senior Garden Apartments [Member] | MRB and Taxable MRB Commitments [Member] | San Diego, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Principal Acquired | $	[3]		$ 3,807,000
CCBA Senior Garden Apartments [Member] | MRB and Taxable MRB Commitments [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[3]		June
Units | Unit	[3]		45
Maturity Date	[3]		Jul. 01, 2037
Interest Rate	[3]		4.50%
Live 929 Apartments [Member] | Series 2022A [Member] | Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired		January
Units | Unit		575
Maturity Date		Jan. 01, 2060
Interest Rate		4.30%
Principal Acquired | $		$ 66,365,000
[1] The Partnership has committed to provide total funding of the MRB up to $ 6.9 million during the acquisition and rehabilitation phase of the property on a drawdown basis. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 4.8 million The interest rate is subject to an all-in floor of 3.87 %. Upon stabilization, the Series J-4 MRB will become subordinate to the Series J-1, J-2 and J-3 MRBs and will convert to a fixed rate of 8.0 %. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 1.5 million. The investment was previously reported as a bond purchase commitment that has converted to an MRB.

Mortgage Revenue Bonds - Sche_4

Mortgage Revenue Bonds - Schedule of MRBs Acquisitions (Parenthetical) (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Available For Sale Securities [Line Items]
Committed to funding amount	$ 554,917,871
Jackson MS [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB		$ 6,900,000
Maximum balance of the MRB after stabilization		$ 4,800,000
Mortgage Revenue Bonds [Member] | Residency at the Entrepreneur [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Floor rate	3.87%
Mortgage Revenue Bonds [Member] | Series J-3 [Member] | Residency at the Entrepreneur [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB	$ 26,100,000
Mortgage Revenue Bonds [Member] | Series J-4 [Member] | Residency at the Entrepreneur [Member] | CA
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB	16,400,000
Maximum balance of the MRB after stabilization	$ 1,500,000
Fixed interest rate	8%

Mortgage Revenue Bonds - Sche_5

Mortgage Revenue Bonds - Schedule of Terms of MRBSs upon Redemption (Details)	1 Months Ended
	Jan. 31, 2022 USD ($) Unit	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)
Mortgage Revenue Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption		$ 21,764,051	$ 41,395,781
Principal Outstanding at Date of Redemption	$ 61,055,000	$ 31,770,592		$ 39,765,074
Live 929 Apartments [Member] | 2014 Series A [Member] | Mortgage Revenue Bonds [Member] | Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	January
Units | Unit	575
Original Maturity Date	Jul. 01, 2049
Interest Rate	5.78%
Principal Outstanding at Date of Redemption	$ 39,445,000
Live 929 Apartments [Member] | 2014 Series B [Member] | Mortgage Revenue Bonds [Member] | Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	January
Units | Unit	575
Original Maturity Date	Jul. 01, 2039
Interest Rate	1.60%
Principal Outstanding at Date of Redemption	$ 21,610,000
Live 929 Apartments [Member] | Series 2022A [Member] | Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Units | Unit	575
Original Maturity Date	Jan. 01, 2060
Interest Rate	4.30%

Mortgage Revenue Bonds - Sche_6

Mortgage Revenue Bonds - Schedule of MRB Redeemed (Details) - Mortgage Revenue Bonds [Member]		9 Months Ended
		Sep. 30, 2022 USD ($) Unit	Sep. 30, 2021 USD ($) Unit	Jan. 31, 2022 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption		$ 31,770,592	$ 39,765,074	$ 61,055,000
Arby Road Apartments [Member] | Series A [Member] | Las Vegas, NV [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[1]		March
Units | Unit	[1]		180
Original Maturity Date	[1]		Oct. 01, 2027
Interest Rate	[1]		5.35%
Principal Outstanding at Date of Redemption	[1]		$ 1,600,000
Arby Road Apartments [Member] | Series A [Member] | Las Vegas, NV [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[1]		March
Units | Unit	[1]		180
Original Maturity Date	[1]		Apr. 01, 2041
Interest Rate	[1]		5.50%
Principal Outstanding at Date of Redemption	[1]		$ 5,785,000
Rosewood Townhomes [Member] | Series A [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units | Unit			100
Original Maturity Date			Jul. 01, 2055
Interest Rate			5.75%
Principal Outstanding at Date of Redemption			$ 9,259,206
Rosewood Townhomes [Member] | Series B [Member] | Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units | Unit			100
Original Maturity Date			Aug. 01, 2055
Interest Rate			12%
Principal Outstanding at Date of Redemption			$ 469,781
South Pointe Apartments [Member] | Series A [Member] | Hanahan, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units | Unit			256
Original Maturity Date			Jul. 01, 2055
Interest Rate			5.75%
Principal Outstanding at Date of Redemption			$ 21,551,600
South Pointe Apartments [Member] | Series B [Member] | Hanahan, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units | Unit			256
Original Maturity Date			Aug. 01, 2055
Interest Rate			12%
Principal Outstanding at Date of Redemption			$ 1,099,487
Ohio Properties [Member] | Series A [Member] | Crescent Village, Willow Bend and Postwoods [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[2]	March
Units | Unit	[2]	362
Original Maturity Date	[2]	Jun. 01, 2050
Interest Rate	[2]	7%
Principal Outstanding at Date of Redemption	[2]	$ 13,544,000
Ohio Properties [Member] | Series B [Member] | Crescent Village, Willow Bend and Postwoods [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[2]	March
Units | Unit	[2]	362
Original Maturity Date	[2]	Jun. 01, 2050
Interest Rate	[2]	10%
Principal Outstanding at Date of Redemption	[2]	$ 3,459,840
Bridle Ridge [Member] | Greer, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed		May
Units | Unit		152
Original Maturity Date		Jan. 01, 2043
Interest Rate		6%
Principal Outstanding at Date of Redemption		$ 7,100,000
Cross Creek [Member] | Beaufort, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed		September
Units | Unit		144
Original Maturity Date		Mar. 01, 2049
Interest Rate		6.15%
Principal Outstanding at Date of Redemption		$ 7,666,752
[1] Both MRBs are part of the same series but had different interest rates and maturity dates. The Ohio Properties consist of Crescent Village, located in Cincinnati, Ohio, Willow Bend, located in Columbus (Hilliard), Ohio and Postwoods, located in Reynoldsburg, Ohio.

Mortgage Revenue Bonds - Summar

Mortgage Revenue Bonds - Summary of Changes in Partnership's Allowance for Credit Losses (Details) - USD ($)		3 Months Ended			9 Months Ended
		Sep. 30, 2022		Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021
Allowance for Credit Loss [Abstract]
Recovery of prior credit loss					$ (39,968)
Mortgage Revenue Bonds [Member]
Allowance for Credit Loss [Abstract]
Balance, beginning of period		$ 10,013,392		$ 8,218,669	9,175,482		$ 7,318,589
Provision for credit loss							900,080
Other additions	[1]				860,533
Recovery of prior credit loss		(17,345)	[2]	0	(39,968)	[2]	0
Balance, end of period	[3]	$ 9,996,047		$ 8,218,669	$ 9,996,047		$ 8,218,669
[1] The other addition is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan. The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. The Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. The allowance for credit losses as of September 30, 2022 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments - Series 2022A MRB. The allowance for credit losses as of September 30, 2021 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments – 2014 Series A MRB.

Governmental Issuer Loans - Sum

Governmental Issuer Loans - Summary of Partnership's GIL Investments (Details)		9 Months Ended			12 Months Ended
		Sep. 30, 2022 USD ($) Unit		Sep. 30, 2021	Dec. 31, 2021 USD ($) Unit
SIFMA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate					2.25%
Governmental Issuer Loans [Member] | TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Amortized Cost		$ 281,275,255			$ 184,767,450
Governmental Issuer Loans [Member] | Scharbauer Flats Apartments [Member] | TOB Trust [Member] | Midland, TX [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		June 2020	[1]		June 2020	[2]
Units | Unit		300	[1]		300	[2]
Original Maturity Date		Jan. 01, 2023	[1],[3]		Jan. 01, 2023	[2],[4]
Current Interest Rate		5.56%	[1]		3.20%	[2]
Amortized Cost		$ 40,000,000	[1]		$ 40,000,000	[2]
Governmental Issuer Loans [Member] | Scharbauer Flats Apartments [Member] | TOB Trust [Member] | SIFMA [Member] | Midland, TX [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		3.10%	[1],[5]		3.10%	[2],[6]
Governmental Issuer Loans [Member] | Oasis at Twin Lakes [Member] | TOB Trust [Member] | Roseville, MN [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		July 2020	[1]		July 2020	[2]
Units | Unit		228	[1]		228	[2]
Original Maturity Date		Aug. 01, 2023	[1],[3]		Aug. 01, 2023	[2],[4]
Current Interest Rate		4.71%	[1]		3.75%	[2],[7]
Amortized Cost		$ 34,000,000	[1]		$ 34,000,000	[2]
Governmental Issuer Loans [Member] | Oasis at Twin Lakes [Member] | TOB Trust [Member] | SIFMA [Member] | Roseville, MN [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		2.25%	[1],[5]		3.25%	[6]
Governmental Issuer Loans [Member] | Centennial Crossings [Member] | TOB Trust [Member] | Centennial, CO [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		August 2020	[1]		August 2020	[2]
Units | Unit		209	[1]		209	[2]
Original Maturity Date		Sep. 01, 2023	[1],[3]		Sep. 01, 2023	[2],[4]
Current Interest Rate		5.21%	[1]		3.25%	[2]
Amortized Cost		$ 33,080,000	[1]		$ 33,080,000	[2]
Governmental Issuer Loans [Member] | Centennial Crossings [Member] | TOB Trust [Member] | SIFMA [Member] | Centennial, CO [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		2.75%	[1],[5]		2.75%	[2],[6]
Governmental Issuer Loans [Member] | Legacy Commons at Signal Hills [Member] | TOB Trust [Member] | St. Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		January 2021	[1]		January 2021	[2]
Units | Unit		247	[1]		247	[2]
Original Maturity Date		Feb. 01, 2024	[1],[3]		Feb. 01, 2024	[2],[4]
Current Interest Rate		6.05%	[1]		3.57%	[2]
Amortized Cost		$ 34,620,000	[1]		$ 33,120,605	[2]
Governmental Issuer Loans [Member] | Legacy Commons at Signal Hills [Member] | TOB Trust [Member] | SOFR [Member] | St. Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		3.07%	[1],[5]		3.07%	[2],[6]
Governmental Issuer Loans [Member] | Hilltop at Signal Hills [Member] | TOB Trust [Member] | St. Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		January 2021	[1]		January 2021	[2]
Units | Unit		146	[1]		146	[2]
Original Maturity Date		Aug. 01, 2023	[1],[3]		Aug. 01, 2023	[2],[4]
Current Interest Rate		6.05%	[1]		3.57%	[2]
Amortized Cost		$ 24,450,000	[1]		$ 21,550,584	[2]
Governmental Issuer Loans [Member] | Hilltop at Signal Hills [Member] | TOB Trust [Member] | SOFR [Member] | St. Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		3.07%	[1],[5]		3.07%	[2],[6]
Governmental Issuer Loans [Member] | Hope on Avalon [Member] | TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Original Maturity Date	[8]			Feb. 01, 2023
Governmental Issuer Loans [Member] | Hope on Avalon [Member] | TOB Trust [Member] | Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		January 2021			January 2021
Units | Unit		88			88
Original Maturity Date		Feb. 01, 2023	[3]		Feb. 01, 2023	[4]
Current Interest Rate		6.21%			4.60%
Amortized Cost		$ 23,390,000			$ 9,981,200
Governmental Issuer Loans [Member] | Hope on Avalon [Member] | TOB Trust [Member] | SIFMA [Member] | Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		3.75%	[5]		3.75%	[6]
Governmental Issuer Loans [Member] | Hope on Broadway [Member] | TOB Trust [Member] | Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		January 2021			January 2021
Units | Unit		49			49
Original Maturity Date		Feb. 01, 2023	[3]		Feb. 01, 2023	[4]
Current Interest Rate		6.21%			4.60%
Amortized Cost		$ 10,691,245			$ 3,691,245
Governmental Issuer Loans [Member] | Hope on Broadway [Member] | TOB Trust [Member] | SIFMA [Member] | Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		3.75%	[5]		3.75%	[6]
Governmental Issuer Loans [Member] | Osprey Village [Member] | TOB Trust [Member] | Kissimmee FL [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		July 2021	[1]		July 2021	[2]
Units | Unit		383	[1]		383	[2]
Original Maturity Date		Aug. 01, 2024	[1],[3]		Aug. 01, 2024	[2],[4]
Current Interest Rate		5.36%	[1]		3.57%	[2]
Amortized Cost		$ 30,648,439	[1]		$ 6,372,030	[2]
Governmental Issuer Loans [Member] | Osprey Village [Member] | TOB Trust [Member] | SOFR [Member] | Kissimmee FL [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		3.07%	[1],[5]		3.07%	[2],[6]
Governmental Issuer Loans [Member] | Willow Place Apartments [Member] | TOB Trust [Member] | McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		September 2021	[1]		September 2021	[2]
Units | Unit		182	[1]		182	[2]
Original Maturity Date		Oct. 01, 2024	[1],[3]		Oct. 01, 2024	[2],[4]
Current Interest Rate		5.59%	[1]		3.55%	[2]
Amortized Cost		$ 12,358,271	[1]		$ 2,971,786	[2]
Governmental Issuer Loans [Member] | Willow Place Apartments [Member] | TOB Trust [Member] | SOFR [Member] | McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate		3.30%	[1],[5]		3.30%	[2],[6]
Governmental Issuer Loans [Member] | Magnolia Heights [Member] | TOB Trust [Member] | Covington, GA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	June 2022
Units | Unit	[1]	200
Original Maturity Date	[1],[3]	Jul. 01, 2024
Current Interest Rate	[1]	6.14%
Amortized Cost	[1]	$ 20,400,000
Governmental Issuer Loans [Member] | Magnolia Heights [Member] | TOB Trust [Member] | SOFR [Member] | Covington, GA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[5]	3.85%
Governmental Issuer Loans [Member] | Poppy Grove I [Member] | TOB Trust [Member] | Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1],[9]	September 2022
Units | Unit	[1],[9]	147
Original Maturity Date	[1],[3],[9]	Apr. 01, 2025
Variable Interest Rate	[1],[5],[9]	6.78%
Current Interest Rate	[1],[9]	6.78%
Amortized Cost	[1],[9]	$ 6,746,000
Governmental Issuer Loans [Member] | Poppy Grove II [Member] | TOB Trust [Member] | Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1],[9]	September 2022
Units | Unit	[1],[9]	82
Original Maturity Date	[1],[3],[9]	Apr. 01, 2025
Variable Interest Rate	[1],[5],[9]	6.78%
Current Interest Rate	[1],[9]	6.78%
Amortized Cost	[1],[9]	$ 3,541,300
Governmental Issuer Loans [Member] | Poppy Grove III [Member] | TOB Trust [Member] | Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1],[9]	September 2022
Units | Unit	[1],[9]	158
Original Maturity Date	[1],[3],[9]	Apr. 01, 2025
Variable Interest Rate	[1],[5],[9]	6.78%
Current Interest Rate	[1],[9]	6.78%
Amortized Cost	[1],[9]	$ 7,350,000
[1] The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 21). The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 21). The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. The variable rate decreases to SIFMA plus 2.25 % upon completion of construction. The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively.

Governmental Issuer Loans - S_2

Governmental Issuer Loans - Summary of Partnership's GIL Investments (Parenthetical) (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
SIFMA [Member]
Governmental Issuer Loans [Line Items]
Interest Rate		2.25%
Governmental Issuer Loans [Member] | Floor Rate [Member] | Minimum [Member]
Governmental Issuer Loans [Line Items]
Interest Rate	0%	0%
Governmental Issuer Loans [Member] | Floor Rate [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Interest Rate	0.85%	0.85%
Governmental Issuer Loans [Member] | Poppy Grove I [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount	$ 3,800,000
Governmental Issuer Loans [Member] | Poppy Grove II [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount	2,200,000
Governmental Issuer Loans [Member] | Poppy Grove III [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount	$ 4,200,000

Governmental Issuer Loans - Add

Governmental Issuer Loans - Additional Information (Details) - Governmental Issuer Loans [Member] - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021
Magnolia Heights [Member]
Governmental Issuer Loans [Line Items]
Total Commitment	$ 20.4
Poppy Grove I [Member]
Governmental Issuer Loans [Line Items]
Total Commitment	35.7
Poppy Grove II [Member]
Governmental Issuer Loans [Line Items]
Total Commitment	22.3
Poppy Grove III [Member]
Governmental Issuer Loans [Line Items]
Total Commitment	$ 39.1
Legacy Commons at Signal Hills [Member]
Governmental Issuer Loans [Line Items]
Total Commitment		$ 34.6
Hilltop at Signal Hills [Member]
Governmental Issuer Loans [Line Items]
Total Commitment		24.5
Hope on Avalon [Member]
Governmental Issuer Loans [Line Items]
Total Commitment		23.4
Hope on Broadway [Member]
Governmental Issuer Loans [Line Items]
Total Commitment		12.1
Osprey Village [Member]
Governmental Issuer Loans [Line Items]
Total Commitment		60
Willow Place Apartments [Member]
Governmental Issuer Loans [Line Items]
Total Commitment		$ 25

Real Estate Assets - Real Estat

Real Estate Assets - Real Estate Assets Owned by Partnership (Details)	Sep. 30, 2022 USD ($) Unit		Dec. 31, 2021 USD ($) Unit
Real Estate [Line Items]
Land and Land Improvements	$ 7,417,772		$ 7,411,079
Buildings and Improvements	73,921,801		72,998,475
Carrying Value	81,339,573		80,409,554
Accumulated depreciation	(22,740,549)		(20,701,922)
Net real estate assets	$ 58,599,024		$ 59,707,632
Suites on Paseo [Member] | San Diego, CA [Member]
Real Estate [Line Items]
Number of Units | Unit	384		384
Land and Land Improvements	$ 3,205,961		$ 3,199,268
Buildings and Improvements	39,426,150		39,302,507
Carrying Value	$ 42,632,111		$ 42,501,775
The 50/50 Student Housing--UNL [Member] | Lincoln, NE [Member]
Real Estate [Line Items]
Number of Units | Unit	475		475
Buildings and Improvements	$ 33,812,722		$ 33,013,039
Carrying Value	33,812,722		33,013,039
Vantage at San Marcos [Member] | San Marcos TX [Member]
Real Estate [Line Items]
Land and Land Improvements	2,660,615	[1]	2,660,615	[2]
Buildings and Improvements	682,929	[1]	682,929	[2]
Carrying Value	3,343,544	[1]	3,343,544	[2]
Land Held for Development [Member]
Real Estate [Line Items]
Land and Land Improvements	1,551,196	[3]	1,551,196	[4]
Carrying Value	$ 1,551,196	[3]	$ 1,551,196	[4]
[1] The land is owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE.

Investments in Unconsolidated_3

Investments in Unconsolidated Entities - Summary of Investments in Unconsolidated Entities (Details)	9 Months Ended
	Sep. 30, 2022 USD ($) Unit	Dec. 31, 2021 USD ($)
Schedule Of Equity Method Investments [Line Items]
Carrying Value	$ 103,103,246	$ 107,793,522
Vantage At Stone Creek [Member] | Omaha, NE [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	294
Month Commitment Executed	March 2018
Construction Completion Date	2020-04
Carrying Value	$ 5,506,982	6,143,099
Vantage At Murfreesboro [Member] | Murfreesboro, TN [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	September 2018
Construction Completion Date	2020-10
Carrying Value		12,240,000
Vantage At Coventry [Member] | Omaha, NE [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	294
Month Commitment Executed	September 2018
Construction Completion Date	2021-02
Carrying Value	$ 6,880,265	7,611,614
Vantage At Conroe [Member] | Conroe T X [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	April 2019
Construction Completion Date	2021-01
Carrying Value	$ 10,424,625	11,164,625
Vantage At O'Connor [Member] | San Antonio, TX [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	October 2019
Construction Completion Date	2021-06
Carrying Value		9,109,343
Vantage At Westover Hills [Member] | San Antonio, TX [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	January 2020
Construction Completion Date	2021-07
Carrying Value		8,861,504
Vantage At Tomball [Member] | Tomball TX [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	August 2020
Construction Completion Date	2022-04
Carrying Value	$ 12,731,001	11,814,774
Vantage At Hutto | Hutto T X
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	December 2021
Carrying Value	$ 12,280,709	5,629,651
Vantage at Loveland [Member] | Loveland, CO [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	April 2021
Carrying Value	$ 17,752,152	10,913,911
Vantage at Helotes [Member] | Helotes, TX [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	May 2021
Carrying Value	$ 13,752,151	11,350,686
Vantage at Fair Oaks [Member] | Boerne, TX [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	September 2021
Carrying Value	$ 11,763,456	6,424,306
Vantage at McKinney Falls [Member] | McKinney Falls, TX [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	288
Month Commitment Executed	December 2021
Carrying Value	$ 12,011,905	$ 6,530,009

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Summary of Sales Information of Partnership Investment in Unconsolidated Entities (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Unit	Sep. 30, 2021 USD ($) Unit
Schedule Of Equity Method Investments [Line Items]
Gross proceeds to the partnership				$ 69,628,446	$ 55,132,201
Investment income				659,132	4,614,160
Gain on Sale		$ 10,580,781	$ 6,954,649	$ 39,664,032	$ 15,227,239
Murfreesboro, TN [Member] | Vantage At Murfreesboro [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288
Month sold				2022-03
Gross proceeds to the partnership				$ 29,258,279
Investment income				657,937
Gain on Sale				$ 16,360,343
San Antonio, TX [Member] | Vantage At Westover Hills [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288
Month sold				2022-05
Gross proceeds to the partnership				$ 20,923,784
Gain on Sale				$ 12,658,501
San Antonio, TX [Member] | Vantage At O'Connor [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288
Month sold				2022-07
Gross proceeds to the partnership				$ 19,381,976
Investment income				1,195
Gain on Sale				$ 10,580,781
Bulverde, TX [Member] | Vantage At Bulverde [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288	288
Month sold					2021-08
Gross proceeds to the partnership				$ 60,000	$ 18,916,961
Investment income					1,392,312
Gain on Sale				$ 60,000	$ 6,954,649
Germantown, TN [Member] | Vantage At Germantown [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288	288
Month sold					2021-03
Gross proceeds to the partnership	$ 4,000			$ 4,407	$ 16,096,560
Investment income					862,454
Gain on Sale				$ 4,407	$ 2,809,106
Powdersville, SC [Member] | Vantage At Powdersville [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit					288
Month sold					2021-05
Gross proceeds to the partnership					$ 20,118,680
Investment income					2,359,394
Gain on Sale					$ 5,463,484

Investments in Unconsolidated_5

Investments in Unconsolidated Entities - Summary of Sales Information of Partnership Investments in Unconsolidated Entities - (Parenthetical) (Details) - USD ($)	1 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Schedule of Equity Method Investments [Line Items]
Cash received		$ 69,628,446	$ 55,132,201
Bulverde, TX [Member] | Vantage At Bulverde [Member]
Schedule of Equity Method Investments [Line Items]
Cash received		60,000	18,916,961
Germantown, TN [Member] | Vantage At Germantown [Member]
Schedule of Equity Method Investments [Line Items]
Cash received	$ 4,000	$ 4,407	$ 16,096,560

Investments in Unconsolidated_6

Investments in Unconsolidated Entities - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2021	May 31, 2021	Apr. 30, 2021
Vantage at Loveland [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment of fund construction			$ 16.3
Vantage at Helotes [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment of fund construction		$ 12.6
Vantage at Fair Oaks [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment of fund construction	$ 11

Investments in Unconsolidated_7

Investments in Unconsolidated Entities - Summary of Partnership's Investments in Unconsolidated Entities (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Property Revenues	$ 4,732,250	$ 6,486,029	$ 16,847,354	$ 17,444,805
Gain on sale of property	23,231,887	17,646,543	87,835,109	42,273,235
Net income (loss)	$ 23,309,924	$ 17,591,694	$ 88,447,049	$ 38,102,642

Property Loans, Net of Loan L_3

Property Loans, Net of Loan Loss Allowances - Summary of Partnership's Property Loans, Net of Loan Loss Allowances (Details) - USD ($)		9 Months Ended		12 Months Ended
		Sep. 30, 2022		Dec. 31, 2021		Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 124,362,490		$ 76,850,616
Loan Loss Allowance		(495,000)		(8,749,348)		$ (7,888,815)	$ (8,635,162)	$ (8,635,162)	$ (8,305,046)
Property Loan Principal, net of allowance		123,867,490		68,101,268
Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		122,563,896	[1]	47,274,576	[2]
Property Loan Principal, net of allowance		122,563,896	[1]	47,274,576	[2]
Senior Construction Financing [Member] | Centennial Crossings [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		24,250,000	[1]	11,354,386	[2]
Property Loan Principal, net of allowance		$ 24,250,000	[1]	$ 11,354,386	[2]
Maturity Date		Sep. 01, 2023	[1]	Sep. 01, 2023	[2]
Senior Construction Financing [Member] | Centennial Crossings [Member] | LIBOR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		2.50%	[1]	2.50%	[2]
Senior Construction Financing [Member] | Hilltop at Signal Hills [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 18,968,334	[1]	$ 1,000,000	[2]
Property Loan Principal, net of allowance		$ 18,968,334	[1]	$ 1,000,000	[2]
Maturity Date		Aug. 01, 2023	[1]	Aug. 01, 2023	[2]
Senior Construction Financing [Member] | Hilltop at Signal Hills [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		3.07%	[1]	3.07%	[2]
Senior Construction Financing [Member] | Legacy Commons at Signal Hills [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 28,166,905	[1]	$ 2,604,230	[2]
Property Loan Principal, net of allowance		$ 28,166,905	[1]	$ 2,604,230	[2]
Maturity Date		Feb. 01, 2024	[1]	Feb. 01, 2024	[2]
Senior Construction Financing [Member] | Legacy Commons at Signal Hills [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		3.07%	[1]	3%	[2]
Senior Construction Financing [Member] | Magnolia Heights [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance	[1]	$ 1,000,000
Property Loan Principal, net of allowance	[1]	$ 1,000,000
Maturity Date	[1]	Jul. 01, 2024
Senior Construction Financing [Member] | Magnolia Heights [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[1]	3.85%
Senior Construction Financing [Member] | Oasis at Twin Lakes [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 24,018,657	[1]	$ 20,607,362	[2]
Property Loan Principal, net of allowance		$ 24,018,657	[1]	$ 20,607,362	[2]
Maturity Date		Aug. 01, 2023	[1]	Aug. 01, 2023	[2]
Senior Construction Financing [Member] | Oasis at Twin Lakes [Member] | LIBOR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		2.50%	[1]	2.50%	[2]
Senior Construction Financing [Member] | Osprey Village [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 1,000,000	[1]	$ 1,000,000	[2]
Property Loan Principal, net of allowance		$ 1,000,000	[1]	$ 1,000,000	[2]
Maturity Date		Aug. 01, 2024	[1]	Aug. 01, 2024	[2]
Senior Construction Financing [Member] | Osprey Village [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		3.07%	[1]	3.07%	[2]
Senior Construction Financing [Member] | Scharbauer Flats Apartments [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 24,160,000	[1]	$ 9,708,598	[2]
Property Loan Principal, net of allowance		$ 24,160,000	[1]	$ 9,708,598	[2]
Maturity Date		Jan. 01, 2023	[1]	Jan. 01, 2023	[2]
Senior Construction Financing [Member] | Scharbauer Flats Apartments [Member] | LIBOR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		2.85%	[1]	2.85%	[2]
Senior Construction Financing [Member] | Willow Place Apartments [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 1,000,000	[1]	$ 1,000,000	[2]
Property Loan Principal, net of allowance		$ 1,000,000	[1]	$ 1,000,000	[2]
Maturity Date		Oct. 01, 2024	[1]	Oct. 01, 2024	[2]
Senior Construction Financing [Member] | Willow Place Apartments [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		3.30%	[1]	3.30%	[2]
Senior Acquisition Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance				$ 13,424,579
Property Loan Principal, net of allowance				13,424,579
Senior Acquisition Financing [Member] | Magnolia Crossing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance	[3]			13,424,579
Property Loan Principal, net of allowance	[3]			$ 13,424,579
Maturity Date	[3]			Dec. 01, 2022
Senior Acquisition Financing [Member] | Magnolia Crossing [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[3]			6.50%
Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 1,798,594		$ 16,151,461
Loan Loss Allowance		(495,000)		(8,749,348)
Property Loan Principal, net of allowance		1,303,594		7,402,113
Other [Member] | Avistar (February 2013 Portfolio) [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		201,972		201,972
Property Loan Principal, net of allowance		$ 201,972		$ 201,972
Maturity Date		Jun. 26, 2024		Jun. 26, 2024
Interest Rate		12%		12%
Other [Member] | Avistar (June 2013 Portfolio) [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 251,622		$ 251,622
Property Loan Principal, net of allowance		$ 251,622		$ 251,622
Maturity Date		Jun. 26, 2024		Jun. 26, 2024
Interest Rate		12%		12%
Other [Member] | Cross Creek [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance				$ 11,101,887
Loan Loss Allowance				(7,393,814)
Property Loan Principal, net of allowance				$ 3,708,073
Maturity Date				Dec. 01, 2025
Interest Rate				6.15%
Other [Member] | Greens Property [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 850,000		$ 850,000
Property Loan Principal, net of allowance		$ 850,000		$ 850,000
Maturity Date		Sep. 01, 2046		Sep. 01, 2046
Interest Rate		10%		10%
Other [Member] | Live 929 Apartments [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 495,000		$ 1,355,534
Loan Loss Allowance		$ (495,000)		$ (1,355,534)
Maturity Date		Jul. 31, 2049		Jul. 31, 2049
Interest Rate		8%		8%
Other [Member] | Ohio Properties [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance				$ 2,390,446
Property Loan Principal, net of allowance				$ 2,390,446
Interest Rate				10%
Other [Member] | Ohio Properties [Member] | Maximum [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date				Jun. 01, 2050
Other [Member] | Ohio Properties [Member] | Minimum [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date				Dec. 01, 2026
[1] The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. The index is subject to a floor of 0.25 %.

Property Loans, Net of Loan L_4

Property Loans, Net of Loan Loss Allowances - Summary of Partnership's Property Loans, Net of Loan Loss Allowances (Parenthetical) (Details)	Sep. 30, 2022	Dec. 31, 2021
Senior Construction Financing [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate	0%	0%
Senior Construction Financing [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate	0.50%	0.50%
Magnolia Crossing [Member] | Senior Acquisition Financing [Member] | SOFR [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate		0.25%

Property Loans, Net of Loan L_5

Property Loans, Net of Loan Loss Allowances - Additional Information (Details) - USD ($)

1 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2022

Apr. 30, 2022

Mar. 31, 2022

Jan. 31, 2022

Aug. 31, 2021

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Jun. 30, 2022

Mar. 31, 2021

Feb. 28, 2021

Property Loans Net Of Loan Loss Allowance [Line Items]

Provision for loans loss allowance

$ 330,116

Advanced additional funds

84,680,165

19,279,087

Other interest income

$ 4,126,695

$ 401,304

$ 8,465,788

1,026,724

Live 929 Apartments [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Provision for loans loss allowance

0

330,000

Total property loan amount

$ 1,500,000

$ 1,000,000

Amount received as payment in full for outstanding principal and interest on a property loan

$ 1,000,000

Ohio Properties [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Interest earned on property loan principal

983,000

983,000

Amount received as payment in full for outstanding principal and interest on a property loan

$ 2,400,000

Accrued interest redemption on notes receivable

$ 4,300,000

Poppy Grove Apartments [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Amount to paid for outstanding principal and interest on a note receivable

$ 825,000

Advanced additional funds

$ 900,000

Magnolia Heights [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Property loan commitments

$ 10,300,000

Legacy Commons At Signal Hills [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Property loan commitments

32,200,000

32,200,000

Hilltop At Signal Hills [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Property loan commitments

21,200,000

21,200,000

Magnolia Crossing [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Amount received as payment in full for outstanding principal and interest on a property loan

14,100,000

Cross Creek Property [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Amount received as payment in full for outstanding principal and interest on a property loan

11,400,000

Accrued interest redemption on notes receivable

1,700,000

Advanced additional funds

$ 7,700,000

Redemption proceeds received

13,000,000

Other interest income

$ 1,700,000

Osprey Village [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Property loan commitments

25,500,000

25,500,000

Willow Place Apartments [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Property loan commitments

$ 21,400,000

$ 21,400,000

Arbors at Hickory Ridge [Member]

Property Loans Net Of Loan Loss Allowance [Line Items]

Amount received as payment in full for outstanding principal and interest on a property loan

$ 328,000

Property Loans, Net of Loan L_6

Property Loans, Net of Loan Loss Allowances - Summary of Changes in Partnership's Loan Loss Allowance (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Balance, beginning of period		$ 7,888,815	$ 8,635,162	$ 8,749,348	$ 8,305,046
Provision for loan loss					330,116
Other reductions	[1]	(7,393,815)		(8,254,348)
Balance, end of period		$ 495,000	$ 8,635,162	$ 495,000	$ 8,635,162
[1] The reduction in the loan loss allowance for the three and nine months ended September 30, 2022 is due to the redemption of all Cross Creek property loan balances in September 2022 and a principal payment received on the Live 929 Apartments property loan as part of the restructuring of the outstanding debt of Live 929 Apartments (Note 6) in January 2022.

Income Tax Provision - Summary

Income Tax Provision - Summary of Income Tax Expense (Benefit) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Provision [Line Items]
Total income tax expense (benefit)	$ (81,523)	$ (81,142)	$ (45,562)	$ 26,802
Greens Hold Co [Member]
Income Tax Provision [Line Items]
Current income tax expense (benefit)	(38,980)	(39,131)	3,688	104,483
Deferred income tax benefit	(42,543)	(42,011)	(49,250)	(77,681)
Total income tax expense (benefit)	$ (81,523)	$ (81,142)	$ (45,562)	$ 26,802

Income Tax Provision - Addition

Income Tax Provision - Additional Information (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Valuation allowance	$ 0	$ 0

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Other Assets [Abstract]
Deferred financing costs, net	$ 1,085,136	$ 1,349,097
Fair value of derivative instruments (Note 17)	6,855,221	343,418
Taxable mortgage revenue bonds, at fair value	13,528,034	3,428,443
Taxable governmental issuer loans	4,000,000	1,000,000
Bond purchase commitments, at fair value (Note 18)		964,404
Operating lease right-of-use assets, net	$ 1,598,037	$ 1,619,714
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total other assets	Total other assets
Other assets	$ 2,650,240	$ 2,157,809
Total other assets	$ 29,716,668	$ 10,862,885

Other Assets (Additional Inform

Other Assets (Additional Information) (Details) $ in Millions	Sep. 30, 2022 USD ($)
Other Assets [Abstract]
Taxable mortgage revenue bonds with fair value, held in trust	$ 9

Other Assets - Summary of Taxab

Other Assets - Summary of Taxable MRB and GIL Acquired (Details)	9 Months Ended
	Sep. 30, 2022 USD ($) Unit
Governmental Issuer Loans [Line Items]
Initial Principal Acquired	$ 7,625,000
Mortgage Revenue Bonds [Member] | Live 929 Apartments [Member] | Series 2022B [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Month Acquired	2022-01
Taxable MRB, Property Location	Baltimore, MD
Number of Loans | Unit	575
Maturity Date	Jan. 01, 2029
Taxable MRB, Interest Rate	4.30%
Taxable MRB, Initial Principal Acquired	$ 3,625,000
Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-T [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Month Acquired	2022-04	[1]
Taxable MRB, Property Location	Los Angeles, CA	[1]
Number of Loans | Unit	200	[1]
Maturity Date	Apr. 01, 2025	[1]
Taxable MRB, Initial Principal Acquired	$ 1,000,000	[1]
Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-T [Member] | SOFR [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Interest Rate	3.65%	[1]
Governmental Issuer Loans [Member] | Poppy Grove I [Member]
Governmental Issuer Loans [Line Items]
Maturity Date	Apr. 01, 2025	[2]
Taxable GIL, Month Acquired	2022-09	[2]
Taxable GIL, Property Location	Elk Grove, CA	[2]
Units | Unit	147	[2]
Taxable GIL, Interest Rate	6.78%	[2]
Taxable GIL, Initial Principal Acquired	$ 1,000,000	[2]
Governmental Issuer Loans [Member] | Poppy Grove II [Member]
Governmental Issuer Loans [Line Items]
Maturity Date	Apr. 01, 2025	[2]
Taxable GIL, Month Acquired	2022-09	[2]
Taxable GIL, Property Location	Elk Grove, CA	[2]
Units | Unit	82	[2]
Taxable GIL, Interest Rate	6.78%	[2]
Taxable GIL, Initial Principal Acquired	$ 1,000,000	[2]
Governmental Issuer Loans [Member] | Poppy Grove III [Member]
Governmental Issuer Loans [Line Items]
Maturity Date	Apr. 01, 2025	[2]
Taxable GIL, Month Acquired	2022-09	[2]
Taxable GIL, Property Location	Elk Grove, CA	[2]
Units | Unit	158	[2]
Taxable GIL, Interest Rate	6.78%	[2]
Taxable GIL, Initial Principal Acquired	$ 1,000,000	[2]
[1] The Partnership has committed to provide total funding for this taxable MRB of $ 13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92 %. The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $ 21.2 million, $ 10.9 million, and $ 24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees.

Other Assets - Summary of Tax_2

Other Assets - Summary of Taxable MRB and GIL Acquired (Parenthetical) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Governmental Issuer Loans [Line Items]
Tax exempt loan maturity periods		6 months
Committed to funding amount	$ 554,917,871
Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-T [Member]
Governmental Issuer Loans [Line Items]
Commitment to provide maximum funding of taxable MRB	$ 13
Tax exempt loan maturity periods	6 months
Floor rate	3.92%
Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Tax exempt loan maturity periods	6 months
Governmental Issuer Loans [Member] | Poppy Grove I [Member]
Governmental Issuer Loans [Line Items]
Committed to funding amount	$ 21.2
Governmental Issuer Loans [Member] | Poppy Grove II [Member]
Governmental Issuer Loans [Line Items]
Committed to funding amount	10.9
Governmental Issuer Loans [Member] | Poppy Grove III [Member]
Governmental Issuer Loans [Line Items]
Committed to funding amount	$ 24.5

Other Assets - Summary of Tax_3

Other Assets - Summary of Taxable Governmental Issuer Loan Acquired (Details) - Governmental Issuer Loans [Member] - Hope on Avalon [Member]	9 Months Ended
	Sep. 30, 2021 USD ($)
Governmental Issuer Loans [Line Items]
Total Commitment	$ 23,400,000
TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Date Committed	2021-01
Maturity Date	Feb. 01, 2023	[1]
Initial Outstanding Balance	$ 1,000,000
Total Commitment	$ 10,573,000
[1] The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee.

Other Assets - Summary of Tax_4

Other Assets - Summary of Taxable Governmental Issue Loan Acquired (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2021
Governmental Issuer Loans [Line Items]
Tax exempt loan maturity periods	6 months

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Liabilities - Summary of Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts payable	$ 1,784,160	$ 1,234,111
Accrued expenses	4,462,978	4,102,381
Accrued interest expense	5,967,620	4,229,119
Operating lease liabilities	$ 2,152,660	$ 2,151,991
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Total accounts payable, accrued expenses and other liabilities	Total accounts payable, accrued expenses and other liabilities
Bond purchase commitment, at fair value	$ 82,911
Other liabilities	1,915,793	$ 1,946,610
Total accounts payable, accrued expenses and other liabilities	$ 16,366,122	$ 13,664,212

Accounts Payable, Accrued Exp_4

Accounts Payable, Accrued Expenses and Other Liabilities - Additional Information (Details) - The 50/50 Student Housing--UNL [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lessee Lease Description [Line Items]
Initial lease term expiration period			2048-03
Lease agreement extend term			5 years
Annual lease payments			$ 100
Minimum annual payments due under lease agreement	$ 141,000		$ 141,000
Annual increment percentage in lease rent			2%
Lease agreement annual renewable increase percentage after July 31, 2034			3%
Expenses related to the agreement	$ 42,000	$ 42,000	$ 126,000	$ 126,000

Accounts Payable, Accrued Exp_5

Accounts Payable, Accrued Expenses and Other Liabilities - Summary of Future Contractual Payments for Partnership's Operating Leases and Reconciliation to Carrying Value of Operating Lease Liabilities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Remainder of 2022	$ 35,657
2023	143,561
2024	144,706
2025	147,598
2026	150,548
Thereafter	4,219,127
Total	4,841,197
Less: Amount representing interest	(2,688,537)
Total operating lease liabilities	$ 2,152,660	$ 2,151,991

Unsecured Lines of Credit - Sum

Unsecured Lines of Credit - Summary of Unsecured Lines of Credit (Details) $ in Millions	Aug. 31, 2021 USD ($)
Bankers Trust Non-operating [Member]
Line Of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	$ 50

Unsecured Lines of Credit - Add

Unsecured Lines of Credit - Additional Information (Details) $ in Millions	Aug. 31, 2021 USD ($)
Bankers Trust Non-operating [Member]
Line Of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	$ 50

Secured Line of Credit - Summar

Secured Line of Credit - Summary of Secured Line of Credit (Details) - Secured Line Of Credit Facility [Member] - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2022		Dec. 31, 2021
Line Of Credit Facility [Line Items]
Lines of credit	$ 30,942,000		$ 45,714,000
Total Commitment	90,000,000		90,000,000
Bank United General [Member]
Line Of Credit Facility [Line Items]
Lines of credit	6,500,000		6,500,000
Total Commitment	$ 40,000,000		$ 40,000,000
Commitment Maturity	2023-06	[1]	2023-06	[2]
Variable / Fixed	Variable	[3]	Variable	[4]
Reset Frequency	Monthly		Monthly
Line of credit facility, interest rate during period	5.88%		3.50%
Bankers Trust Acquisition [Member]
Line Of Credit Facility [Line Items]
Lines of credit	$ 24,442,000		$ 39,214,000
Total Commitment	$ 50,000,000		$ 50,000,000
Commitment Maturity	2024-06	[5]	2023-06
Variable / Fixed	Variable	[6]	Variable	[7]
Reset Frequency	Monthly		Monthly
Line of credit facility, interest rate during period	5.10%		3.10%
[1] The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited, N.A. (“BankUnited”) if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee. The variable rate is equal to 2.50 % plus a variable component based on the 1-month forward looking term Secured Overnight Financing Rate as published by CME Group Benchmark Administration Limited (“Term SOFR”). The variable rate is equal to the greater of (i) the Prime Rate or (ii) 3.25 % per annum; plus or minus a margin varying from 0.35 % to ( 0.65 %) depending upon the ratio of the Partnership’s senior debt to market value of assets.

Secured Line of Credit - Summ_2

Secured Line of Credit - Summary of Secured Line of Credit (Parenthetical) (Details) - Secured Line Of Credit Facility [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) Extension	Dec. 31, 2021 Extension
Bank United General [Member]
Line Of Credit Facility [Line Items]
Debt instrument number of extensions	2	2
Debt instrument extended maturity period	1 year	1 year
Payment of extension fee percentage	0.25%	0.25%
Bank United General [Member] | LIBOR [Member]
Line Of Credit Facility [Line Items]
Debt instrument variable rate	3.25%	3.25%
Floor rate	3.50%	3.50%
Bankers Trust Acquisition [Member]
Line Of Credit Facility [Line Items]
Debt instrument number of extensions	2
Debt instrument extended maturity period	1 year
Debt instrument variable rate		3.25%
Payment of extension fee | $	$ 25,000
Bankers Trust Acquisition [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Debt instrument variable rate		0.35%
Bankers Trust Acquisition [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Debt instrument variable rate		(0.65%)
Bankers Trust Acquisition [Member] | SOFR [Member]
Line Of Credit Facility [Line Items]
Debt instrument variable rate	2.50%

Secured Line of Credit - Additi

Secured Line of Credit - Additional Information (Details) - USD ($)	1 Months Ended		9 Months Ended
	Aug. 31, 2021	Jun. 30, 2021	Sep. 30, 2022	Dec. 31, 2021
Bankers Trust Non-operating [Member]
Line Of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	$ 50,000,000
Secured Line Of Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity			$ 90,000,000	$ 90,000,000
Minimum liquidity		$ 5,000,000
Minimum consolidated tangible net worth		$ 100,000,000
Percentage of minimum consolidated net worth decline from immediately preceding quarter		20%
Percentage of minimum consolidated net worth decline from date at the end of two consecutive calendar quarters ending immediately thereafter		35%
Debt instrument, covenant compliance			The Partnership is subject to various affirmative and negative covenants under the Secured Credit Agreement that, among others, require the Partnership to maintain a minimum liquidity of not less than $5 million, maintain a minimum consolidated tangible net worth of $100.0 million, and to notify BankUnited if the Partnership’s consolidated net worth declines by (a) more than 20% from the immediately preceding quarter, or (b) more than 35% from the date at the end of two consecutive calendar quarters ending immediately thereafter. The Partnership was in compliance with all covenants as of September 30, 2022.
Secured Line Of Credit Facility [Member] | BankUnited, N.A. and Bankers Trust Company [Member]
Line Of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity		$ 40,000,000
Aggregate available commitment cannot exceed borrowing base calculation equal to multiplied by the aggregate value of pool of eligible encumbered assets percentage		40%
Percentage of partnership's capital contributions to equity investments		100%
Secured Line Of Credit Facility [Member] | BankUnited, N.A [Member]
Line Of Credit Facility [Line Items]
Minimum amount required to maintain security interest in bank account		$ 5,000,000
Secured Line Of Credit Facility [Member] | Bankers Trust Non-operating [Member]
Line Of Credit Facility [Line Items]
Debt instrument, payment terms			Advances on the Acquisition LOC are due on the 270th day following the advance date but may be extended for up to three additional 90-day periods
Required percentage of principal payment for first extension	5%
Required percentage of principal payment for second extension	10%
Required percentage of principal payment for third extension	20%

Debt Financing - Schedule of To

Debt Financing - Schedule of Total Debt Financing (Details) - USD ($)		9 Months Ended		12 Months Ended
		Sep. 30, 2022		Dec. 31, 2021
Debt Instrument [Line Items]
Debt financing		$ 962,615,366		$ 820,078,714
Period End Rates		4.52%
TEBS Financings [Member] | Fixed - M24 [Member]
Debt Instrument [Line Items]
Debt financing		$ 7,752,126		35,551,762
Restricted Cash		$ 39,080		$ 204,000
Year Acquired		2010		2010
Stated Maturities		2027		2027
Reset Frequency		N/A		N/A
Variable Rate Index		N/A		N/A
Period End Rates		3.05%		3.05%
TEBS Financings [Member] | Variable - M31 [Member]
Debt Instrument [Line Items]
Debt financing		$ 75,970,493	[1]	$ 76,964,051	[2]
Restricted Cash		$ 4,999	[1]	$ 4,999	[2]
Year Acquired		2014	[1]	2014	[2]
Stated Maturities		2024	[1]	2024	[2]
Reset Frequency		Weekly	[1]	Weekly	[2]
Variable Rate Index		SIFMA	[1]	SIFMA	[2]
Index Based Rates		1.43%	[1]	0.13%	[2]
Spread/ Facility Fees		2.49%	[1]	1.32%	[2]
Period End Rates		3.92%	[1]	1.45%	[2]
TEBS Financings [Member] | Fixed - M33 [Member]
Debt Instrument [Line Items]
Debt financing		$ 29,713,724		$ 30,191,051
Restricted Cash		$ 2,606		$ 2,606
Year Acquired		2015		2015
Stated Maturities		2030		2030
Reset Frequency		N/A		N/A
Variable Rate Index		N/A		N/A
Period End Rates		3.24%		3.24%
TEBS Financings [Member] | Fixed - M45 [Member]
Debt Instrument [Line Items]
Debt financing		$ 212,430,600	[3]	$ 213,931,752	[4]
Restricted Cash		$ 5,000	[3]	$ 5,000	[4]
Year Acquired		2018	[3]	2018	[4]
Stated Maturities		2034	[3]	2034	[4]
Reset Frequency		N/A	[3]	N/A	[4]
Variable Rate Index		N/A	[3]	N/A	[4]
Period End Rates		3.82%	[3]	3.82%	[4]
Secured Line Of Credit Facility [Member] | Variable - Notes [Member]
Debt Instrument [Line Items]
Debt financing		$ 102,567,831		$ 102,798,158
Restricted Cash		$ 36,009,014		$ 77,531,264
Year Acquired		2020		2020
Stated Maturities		2025		2025
Reset Frequency		Monthly		Monthly
Variable Rate Index		3-month LIBOR		3-month LIBOR
Index Based Rates		3.29%		0.20%
Spread/ Facility Fees		9%		9%
Period End Rates		12.29%	[5]	9.20%	[6]
TOB Trusts Securitization [Member] | Variable - TOB I [Member] | Mizuho Capital Markets [Member]
Debt Instrument [Line Items]
Debt financing		$ 48,712,716	[7]	$ 13,482,312
Year Acquired				2020
Stated Maturities		2023		2022
Reset Frequency		Weekly		Weekly
Variable Rate Index		OBFR		SIFMA
Index Based Rates		3.32%		0.23%
Spread/ Facility Fees		0.89%		0.89%
Period End Rates		4.21%		1.12%
TOB Trusts Securitization [Member] | Variable - TOB I [Member] | Mizuho Capital Markets [Member] | Minimum [Member]
Debt Instrument [Line Items]
Year Acquired		2020
TOB Trusts Securitization [Member] | Variable - TOB I [Member] | Mizuho Capital Markets [Member] | Maximum [Member]
Debt Instrument [Line Items]
Year Acquired		2021
TOB Trusts Securitization [Member] | Variable - TOB II [Member] | Mizuho Capital Markets [Member]
Debt Instrument [Line Items]
Debt financing		$ 139,759,072	[7]	$ 117,257,933
Year Acquired		2020
Stated Maturities		2023		2023
Reset Frequency		Weekly		Weekly
Variable Rate Index		SIFMA		SIFMA
TOB Trusts Securitization [Member] | Variable - TOB II [Member] | Mizuho Capital Markets [Member] | Minimum [Member]
Debt Instrument [Line Items]
Year Acquired				2019
Index Based Rates		2.66%		0.23%
Spread/ Facility Fees		0.89%		1.17%
Period End Rates		3.55%		1.40%
TOB Trusts Securitization [Member] | Variable - TOB II [Member] | Mizuho Capital Markets [Member] | Maximum [Member]
Debt Instrument [Line Items]
Year Acquired				2021
Index Based Rates		2.68%		0.30%
Spread/ Facility Fees		1.44%		1.67%
Period End Rates		4.10%		1.97%
TOB Trusts Securitization [Member] | Variable - TOB III [Member] | Mizuho Capital Markets [Member]
Debt Instrument [Line Items]
Debt financing		$ 170,843,324	[7]	$ 115,143,312
Year Acquired				2020
Stated Maturities		2024		2023
Reset Frequency		Weekly		Weekly
Variable Rate Index		OBFR		OBFR
Index Based Rates				0.18%
Spread/ Facility Fees				0.89%
Period End Rates				1.07%
TOB Trusts Securitization [Member] | Variable - TOB III [Member] | Mizuho Capital Markets [Member] | Minimum [Member]
Debt Instrument [Line Items]
Year Acquired		2021
Spread/ Facility Fees		0.89%
Period End Rates		4.21%
TOB Trusts Securitization [Member] | Variable - TOB III [Member] | Mizuho Capital Markets [Member] | Maximum [Member]
Debt Instrument [Line Items]
Spread/ Facility Fees		1.16%
Period End Rates		4.48%
TOB Trusts Securitization [Member] | Variable - TOB IV [Member] | Mizuho Capital Markets [Member]
Debt Instrument [Line Items]
Debt financing		$ 59,556,053	[7]	$ 98,703,495
Year Acquired				2021
Stated Maturities		2025		2024
Reset Frequency		Weekly		Weekly
Variable Rate Index		SIFMA		OBFR
Index Based Rates		3.32%		0.18%
TOB Trusts Securitization [Member] | Variable - TOB IV [Member] | Mizuho Capital Markets [Member] | Minimum [Member]
Debt Instrument [Line Items]
Year Acquired		2019
Index Based Rates		2.66%
Spread/ Facility Fees		1.17%		0.89%
Period End Rates		3.83%		1.07%
TOB Trusts Securitization [Member] | Variable - TOB IV [Member] | Mizuho Capital Markets [Member] | Maximum [Member]
Debt Instrument [Line Items]
Year Acquired		2020
Index Based Rates		2.68%
Spread/ Facility Fees		1.67%		1.16%
Period End Rates		4.35%		1.34%
TOB Trusts Securitization [Member] | Variable - TOB V [Member] | Mizuho Capital Markets [Member]
Debt Instrument [Line Items]
Debt financing	[7]	$ 13,337,843
Year Acquired		2022
Stated Maturities		2025
Reset Frequency		Weekly
Variable Rate Index		OBFR
Index Based Rates		3.32%
Spread/ Facility Fees		1.18%
Period End Rates		4.50%
TOB Trusts Securitization [Member] | Variable - TOB V [Member] | Barclays Capital Inc [Member]
Debt Instrument [Line Items]
Debt financing				$ 3,139,698
Year Acquired				2021
Stated Maturities				2022
Reset Frequency				Weekly
Variable Rate Index				OBFR
Index Based Rates				0.14%
Spread/ Facility Fees				1.27%
Period End Rates				1.41%
TOB Trusts Securitization [Member] | Variable - TOB VI [Member] | Mizuho Capital Markets [Member]
Debt Instrument [Line Items]
Debt financing	[7]	$ 53,088,531
Year Acquired		2022
Stated Maturities		2027
Reset Frequency		Weekly
Variable Rate Index		SIFMA
Index Based Rates		2.68%
Spread/ Facility Fees		1.18%
Period End Rates		3.86%
TOB Trusts Securitization [Member] | Variable - TOB VII [Member] | Barclays Capital Inc [Member]
Debt Instrument [Line Items]
Debt financing		$ 36,031,013
Year Acquired		2021
Stated Maturities		2023
Reset Frequency		Weekly
Variable Rate Index		OBFR
Index Based Rates		3.60%
Spread/ Facility Fees		1.27%
Period End Rates		4.87%
TOB Trusts Securitization [Member] | Fixed - Term TOB [Member] | Morgan Stanley Bank [Member]
Debt Instrument [Line Items]
Debt financing		$ 12,852,040		$ 12,915,190
Year Acquired		2019		2019
Stated Maturities		2024		2024
Reset Frequency		N/A
Variable Rate Index		N/A
Period End Rates		1.98%		1.98%
[1] Facility fees have a variable component. Facility fees have a variable component. The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.04 % as of September 30, 2022. See Note 17 for further information on the total return swap. The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25 % for approximately $ 39.6 million of the Secured Notes and 1.00 % for approximately $ 63.5 million of the Secured Notes as of December 31, 2021. See Note 17 for further information on the total return swaps. The Partnership has restricted cash totaling approximately $ 4.5 million related to its total net position with Mizuho Capital Markets.

Debt Financing - Schedule of _2

Debt Financing - Schedule of Total Debt Financing (Parenthetical) (Details)	Sep. 30, 2022 USD ($) Swap	Dec. 31, 2021 USD ($) Swap
Debt Instrument [Line Items]
Effective net interest rate	4.52%
Debt financing	$ 962,615,366	$ 820,078,714
Cash collateral	$ 4,500,000
Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Number of return swap transactions | Swap	20	20
Fixed - M45 [Member] | Interest Rate Through July 31, 2023 [Member]
Debt Instrument [Line Items]
Interest Rate	3.82%	3.82%
Fixed - M45 [Member] | Interest Rate from August 1, 2023 [Member]
Debt Instrument [Line Items]
Interest Rate	4.39%	4.39%
Total Return Swaps [Member] | Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Number of return swap transactions | Swap		2
Total Return Swap One [Member] | Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Effective net interest rate	7.04%	4.25%
Debt financing		$ 39,600,000
Total Return Swap Two [Member] | Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Effective net interest rate		1%
Debt financing		$ 63,500,000

Debt Financing - Additional Inf

Debt Financing - Additional Information (Details)	1 Months Ended		9 Months Ended
	Oct. 31, 2022 USD ($)	Jul. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) Swap	Sep. 30, 2021 USD ($)		Dec. 31, 2021 USD ($) Swap
Debt Instrument [Line Items]
Termination occur percentage decrease by partners net assets in one quarter			25%
Debt financing			$ 962,615,366			$ 820,078,714
Termination occur percentage decrease by partners net assets in over one year			35%
Effective net interest rate			4.52%
Additional debt financing proceeds			$ 303,630,000	$ 116,800,000
Mizuho and Barclays [Member]
Debt Instrument [Line Items]
Debt financing			$ 4,500,000
Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Number of return swap transactions | Swap			20			20
T O B Trust [Member]
Debt Instrument [Line Items]
Debt financing			$ 67,092,000	$ 31,820,000	[1]
T O B Trust [Member] | Trust 2021-XF2953 [Member]
Debt Instrument [Line Items]
Additional debt financing proceeds	$ 2,400,000	$ 12,600,000
Maximum [Member] | T O B Trust [Member] | Fixed - Term TOB [Member] | Morgan Stanley Bank [Member]
Debt Instrument [Line Items]
Effective net interest rate			3.53%
Minimum [Member] | T O B Trust [Member] | Fixed - Term TOB [Member] | Morgan Stanley Bank [Member]
Debt Instrument [Line Items]
Effective net interest rate			1.98%
[1] Amounts shown are the initial funding into the respective TOB trusts. The balances will increase based upon subsequent fundings of the related securitized assets and the current outstanding balances are contained in the summarized debt financing table above.

Debt Financing - Summary of TOB

Debt Financing - Summary of TOB Trust Financings (Details) - USD ($)		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021		Dec. 31, 2021
Debt Instrument [Line Items]
Debt financing		$ 962,615,366			$ 820,078,714
TOB Trust [Member]
Debt Instrument [Line Items]
Debt financing		67,092,000	$ 31,820,000	[1]
TOB Trust [Member] | Trust 2021-XF2926 [Member]
Debt Instrument [Line Items]
Debt financing	[1],[2]		$ 16,190,000
Stated Maturities	[2]		2024-01
Reset Frequency	[2]		Weekly
Variable Rate Index	[2]		OBFR
Facility Fees	[2]		0.89%
TOB Trust [Member] | Hope on Avalon [Member]
Debt Instrument [Line Items]
Debt financing	[1]		$ 5,064,000
Stated Maturities			2023-02
Reset Frequency			Weekly
Variable Rate Index			SIFMA
Facility Fees			1.42%
TOB Trust [Member] | Hope on Broadway [Member]
Debt Instrument [Line Items]
Debt financing	[1]		$ 2,953,000
Stated Maturities			2023-02
Reset Frequency			Weekly
Variable Rate Index			SIFMA
Facility Fees			1.42%
TOB Trust [Member] | Jackson Manor Apartments [member]
Debt Instrument [Line Items]
Debt financing	[1]		$ 3,528,000
Stated Maturities			2023-04
Reset Frequency			Weekly
Variable Rate Index			SIFMA
Facility Fees			1.27%
TOB Trust [Member] | Residency at the Entrepreneur MRBs and Taxable MRB [ Member ]
Debt Instrument [Line Items]
Debt financing		$ 14,000,000
Stated Maturities		2025-04
Reset Frequency		Weekly
Variable Rate Index		OBFR
Facility Fees		1.18%
TOB Trust [Member] | Live 929 Series 2022A MRB [Member]
Debt Instrument [Line Items]
Debt financing	[3]	$ 53,092,000
Stated Maturities	[3]	2027-09
Reset Frequency	[3]	Weekly
Variable Rate Index	[3]	SIFMA
Facility Fees	[3]	1.18%
TOB Trust [Member] | Trust 2021-XF2939 [Member]
Debt Instrument [Line Items]
Debt financing	[1],[4]		$ 4,085,000
Stated Maturities	[4]		2024-07
Reset Frequency	[4]		Weekly
Variable Rate Index	[4]		OBFR
Facility Fees	[4]		1.16%
[1] Amounts shown are the initial funding into the respective TOB trusts. The balances will increase based upon subsequent fundings of the related securitized assets and the current outstanding balances are contained in the summarized debt financing table above. The TOB trust is securitized by the Legacy Commons at Signal Hills GIL and property loan, Hilltop at Signal Hills GIL and property loan, Oasis at Twin Lakes property loan and Hope on Avalon taxable GIL. The TOB Trust financing associated with the Live 929 Apartments MRB and taxable MRB was originated in January 2022 and subsequently redeemed in September 2022. The Live 929 Apartments Series 2022A MRB was securitized into a new TOB Trust financing in September 2022. The Live 929 Apartments Series 2022B taxable MRB was removed from the original TOB trust financing and was not leveraged in a debt financing facility as of September 30, 2022. The termination of the original TOB Trust financing was treated as an extinguishment for accounting purposes and the Partnership expensed approximately $ 508,000 of deferred financings costs. The TOB Trust is a securitization of the Osprey Village GIL and property loan and the Ocotillo Springs Series A-T taxable MRB.

Debt Financing - Summary of T_2

Debt Financing - Summary of TOB Trust Financings (Parenthetical) (Details)	Sep. 30, 2022 USD ($)
T O B Trust [Member] | Live 929 Series 2022A MRB [Member]
Debt Instrument [Line Items]
Deferred financings costs	$ 508,000

Debt Financing - Summary of T_3

Debt Financing - Summary of TOB Trust Financings Redeemed and Principal and Interest Paid in Full (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument Redemption [Line Items]
Paydown Applied	$ 36,644,000	$ 25,690,000
TOB Trust [Member] | Rosewood Townhomes - Series A [Member]
Debt Instrument Redemption [Line Items]
Paydown Applied		7,700,000
TOB Trust [Member] | Live 929 Apartments - Series 2014 A [Member]
Debt Instrument Redemption [Line Items]
Paydown Applied	31,565,000
TOB Trust [Member] | South Pointe Apartments - Series A [Member]
Debt Instrument Redemption [Line Items]
Paydown Applied		$ 17,990,000
TOB Trust [Member] | Gateway Village [Member]
Debt Instrument Redemption [Line Items]
Paydown Applied	2,183,000
TOB Trust [Member] | Lynnhaven Apartments [Member]
Debt Instrument Redemption [Line Items]
Paydown Applied	$ 2,896,000

Debt Financing - Schedule of Co

Debt Financing - Schedule of Contractual Maturities of Borrowings (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Debt Financing [Abstract]
Remainder of 2022	$ 1,675,596
2023	230,681,816
2024	269,559,152
2025	177,359,289
2026	3,544,863
Thereafter	282,537,017
Total	965,357,733
Unamortized deferred financing costs and debt premium	(2,742,367)
Total debt financing, net	$ 962,615,366	$ 820,078,714

Mortgage Payable and Other Secu

Mortgage Payable and Other Secured Financing - Summary of Partnerships' Mortgage Payable and Other Secured Financing, Net of Deferred Financing Costs (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net	$ 26,230,855	$ 26,824,543
Period End Rate	4.52%
Tax Increment Financing [Member] | Real Estate [Member] | The 50/50 Student Housing--UNL [Member]
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net	$ 1,978,582	2,174,453
Year Acquired	2020
Stated Maturity	2025-03
Variable / Fixed	Fixed
Period End Rate	4.40%
Mortgages payable [Member] | Real Estate [Member] | The 50/50 Student Housing--UNL [Member]
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net	$ 22,562,273	22,960,090
Year Acquired	2020
Stated Maturity	2027-04
Variable / Fixed	Fixed
Period End Rate	4.35%
Mortgages payable [Member] | Real Estate [Member] | Vantage at San Marcos [Member]
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net	$ 1,690,000	$ 1,690,000
Year Acquired	2020
Stated Maturity	2022-11
Variable / Fixed	Variable
Period End Rate	7%

Mortgage Payable and Other Se_2

Mortgage Payable and Other Secured Financing - Contractual Maturities of Mortgages Payable and Other Secured Financing (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Mortgage Loans On Real Estate [Line Items]
Total mortgages payable and other secured financings, net	$ 26,230,855	$ 26,824,543
Mortgages Payable and Other Secured Financing [Member]
Mortgage Loans On Real Estate [Line Items]
Remainder of 2022	1,996,021
2023	910,597
2024	948,679
2025	1,711,556
2026	641,276
Thereafter	20,023,765
Total	26,231,894
Unamortized deferred financing costs	(1,039)
Total mortgages payable and other secured financings, net	$ 26,230,855

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Terms of Partnership's Interest Rate Swap (Details) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative, Notional Amount		$ 102,800,000
Derivative Liability, Fair Value, Gross Asset		$ 6,471,663
Mizuho Capital Markets 1 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-02	2020-09
Derivative, Notional Amount		$ 55,990,000	$ 39,607,744
Derivative Effective Date		Feb. 09, 2022
Derivative Termination Date		Feb. 01, 2024
Derivative Fixed Interest Rate Paid		1.40%
Derivative, Period End Variable Rate Received		2.49%	9.20%	[1]
Derivative, Variable Rate Index		SOFR	3-month LIBOR
Derivative, Variable Debt Financing Hedged	[2]	TOB Trusts
Derivative Liability, Fair Value, Gross Asset		$ 2,202,723
Mizuho Capital Markets 2 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-03	2020-09
Derivative, Notional Amount		$ 47,850,000	$ 63,500,000
Derivative Effective Date		Mar. 03, 2022
Derivative Termination Date		Mar. 01, 2027
Derivative Fixed Interest Rate Paid		1.65%
Derivative, Period End Variable Rate Received		2.49%	9.20%	[1]
Derivative, Variable Rate Index		SOFR	3-month LIBOR
Derivative, Variable Debt Financing Hedged	[2]	TOB Trusts
Derivative Liability, Fair Value, Gross Asset		$ 4,268,940
[1] Variable rate equal to 3-month LIBOR + 9.00 % See Notes 15 and 22 for additional details.

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Terms of Partnership's Total Return Swaps (Details) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative, Notional Amount		$ 102,800,000
Derivative, Fair Value Liability		$ 224,852	$ 292,328
Mizuho Capital Markets 1 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-02	2020-09
Derivative, Notional Amount		$ 55,990,000	$ 39,607,744
Derivative, Effective Date			2020-09
Derivative, Termination Date			2025-09
Derivative, Period End Variable Rate Paid	[1]		4.25%
Derivative, Period End Variable Rate Received		2.49%	9.20%	[2]
Derivative, Variable Rate Index		SOFR	3-month LIBOR
Derivative, Fair Value Liability			$ 77,061
Mizuho Capital Markets 2 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-03	2020-09
Derivative, Notional Amount		$ 47,850,000	$ 63,500,000
Derivative, Effective Date			2020-09
Derivative, Termination Date			2022-03
Derivative, Period End Variable Rate Paid	[3]		1%
Derivative, Period End Variable Rate Received		2.49%	9.20%	[2]
Derivative, Variable Rate Index		SOFR	3-month LIBOR
Derivative, Fair Value Liability			$ 215,267
Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative, Trade Date		2020-09
Derivative, Notional Amount		$ 102,789,326
Derivative, Effective Date		2020-09
Derivative, Termination Date		2025-09
Derivative, Period End Variable Rate Paid	[4]	7.04%
Derivative, Period End Variable Rate Received	[5]	12.29%
Derivative, Variable Rate Index		3-month LIBOR
Derivative, Fair Value Liability		$ 224,852
[1] Variable rate equal to 3-month LIBOR + 3.75 %, subject to an all-in floor of 4.25 %. Variable rate equal to 3-month LIBOR + 9.00 % Variable rate equal to 3-month LIBOR + 0.50 %, subject to an all-in floor of 1.00 %. Variable rate equal to 3-month LIBOR + 3.75 %, subject to an all-in floor of 4.25 %. Variable rate equal to 3-month LIBOR + 9.00 %

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Terms of Partnership's Total Return Swaps (Parenthetical) (Details)	Sep. 30, 2022	Dec. 31, 2021
Mizuho Capital Markets 1 [Member]
Derivative [Line Items]
Derivative, basis spread on variable rate	3.75%	3.75%
Derivative, floor interest rate	4.25%	4.25%
Mizuho Capital Markets 2 [Member]
Derivative [Line Items]
Derivative, basis spread on variable rate		0.50%
Derivative, floor interest rate		1%
Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative, basis spread on variable rate	9%	9%

Derivative Financial Instrume_6

Derivative Financial Instruments - Additional Information (Details) - USD ($)	1 Months Ended	9 Months Ended
	Mar. 31, 2022	Sep. 30, 2022
Derivative [Line Items]
Derivative notional amount		$ 102,800,000
Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative notional amount		102,789,326
Total Return Swap One [Member] | Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative notional amount		$ 102,800,000
Required cash collateral percentage		35%
Total Return Swap Two [Member] | Mizuho Capital Markets [Member]
Derivative [Line Items]
Required cash collateral percentage	100%
Amount of obligation to return cash collateral under swap arrangement	$ 63,500,000
Increase in unrestricted cash	$ 41,300,000

Derivative Financial Instrume_7

Derivative Financial Instruments - Summary of Partnership's Interest Rate Cap Agreements (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2022		Dec. 31, 2021
Derivative [Line Items]
Derivative, Fair Value - Asset (Liability)	$ 158,706		$ 51,090
Barclays Bank PLC [Member]
Derivative [Line Items]
Derivative, Purchase Date	2019-08		2019-08
Derivative, Notional Amount	$ 75,449,918		$ 76,544,336
Derivative, Maturity Date	2024-08		2024-08
Derivative, Effective Capped Rate	4.50%	[1]	4.50%	[2]
Derivative, Index	SIFMA		SIFMA
Derivative, Variable Debt Financing Hedged	M31 TEBS	[1]	M31 TEBS	[2]
Derivative, Fair Value - Asset (Liability)	$ 158,706		$ 51,090
[1] See Notes 15 and 22 for additional details. See Notes 15 and 22 for additional details.

Commitments and Contingencies -

Commitments and Contingencies - Summary of Partnership's Bond Purchase Commitments (Details) - Bond Purchase Commitment [Member] - USD ($)		9 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Bond Purchase Commitment [Line Items]
Maximum Committed Amounts Remaining		$ 3,900,000
Fair Value		$ 82,911	$ 964,404
CCBA Senior Garden Apartments [Member]
Bond Purchase Commitment [Line Items]
Commitment Date		2020-07
Interest Rate		4.50%
Estimated Closing Date	[1]	June 2022
Fair Value			495,784
Anaheim & Walnut [Member]
Bond Purchase Commitment [Line Items]
Commitment Date		2021-09
Maximum Committed Amounts Remaining		$ 3,900,000
Interest Rate		4.85%
Estimated Closing Date		Q3 2024
Fair Value		$ 82,911	$ 468,620
[1] The closing date is actual.

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Partnership's Total and Remaining Commitments (Details)	9 Months Ended
	Sep. 30, 2022 USD ($)
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 554,917,871
Remaining Commitments as of September 30, 2022	375,734,668
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	116,000,000
Remaining Commitments as of September 30, 2022	$ 89,276,563
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency At Mayer [Member] | Series A [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-10
Maturity Date	2039-04
Total Initial Commitment	$ 29,500,000
Remaining Commitments as of September 30, 2022	$ 4,500,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency At Mayer [Member] | Series A [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.60%
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency At Mayer [Member] | Series A T Mortgage [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-10
Maturity Date	2024-04
Total Initial Commitment	$ 12,500,000
Remaining Commitments as of September 30, 2022	$ 11,500,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency At Mayer [Member] | Series A T Mortgage [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.70%
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-3 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2040-03
Interest Rate	6%
Total Initial Commitment	$ 26,080,000
Remaining Commitments as of September 30, 2022	$ 26,080,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-4 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2040-03
Total Initial Commitment	$ 16,420,000
Remaining Commitments as of September 30, 2022	$ 16,420,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-4 [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.60%
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-T [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2025-04
Total Initial Commitment	$ 13,000,000
Remaining Commitments as of September 30, 2022	$ 12,000,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-T [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.65%
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | Meadow Valley [Member] | Series A [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-12
Maturity Date	2029-12
Interest Rate	6.25%
Total Initial Commitment	$ 44,000,000
Remaining Commitments as of September 30, 2022	42,276,563
Taxable Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	25,500,000
Remaining Commitments as of September 30, 2022	23,500,000
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	194,163,458
Remaining Commitments as of September 30, 2022	$ 122,828,203
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Hope on Avalon [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-01
Maturity Date	2023-02
Total Initial Commitment	$ 10,573,000
Remaining Commitments as of September 30, 2022	$ 9,573,000
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Hope on Avalon [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.55%
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Hope on Broadway [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-01
Maturity Date	2023-02
Total Initial Commitment	$ 12,105,623
Remaining Commitments as of September 30, 2022	$ 1,414,378
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Hope on Broadway [Member] | SIFMA [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.75%
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Osprey Village [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-07
Maturity Date	2024-08
Total Initial Commitment	$ 60,000,000
Remaining Commitments as of September 30, 2022	$ 29,351,561
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Osprey Village [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Willow Place Apartments [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-09
Maturity Date	2024-10
Total Initial Commitment	$ 25,000,000
Remaining Commitments as of September 30, 2022	$ 12,641,729
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Willow Place Apartments [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.30%
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Poppy Grove I [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04
Interest Rate	6.78%
Total Initial Commitment	$ 35,688,328
Remaining Commitments as of September 30, 2022	$ 28,942,328
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Poppy Grove III [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04
Interest Rate	6.78%
Total Initial Commitment	$ 39,119,507
Remaining Commitments as of September 30, 2022	$ 31,769,507
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Poppy Grove II [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04
Interest Rate	6.78%
Total Initial Commitment	$ 22,250,000
Remaining Commitments as of September 30, 2022	18,708,700
Taxable Governmental Issuer Loans [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	67,152,465
Remaining Commitments as of September 30, 2022	$ 63,152,465
Taxable Governmental Issuer Loans [Member] | Poppy Grove I [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04
Interest Rate	6.78%
Total Initial Commitment	$ 21,157,672
Remaining Commitments as of September 30, 2022	$ 20,157,672
Taxable Governmental Issuer Loans [Member] | Poppy Grove III [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04
Interest Rate	6.78%
Total Initial Commitment	$ 24,480,493
Remaining Commitments as of September 30, 2022	$ 23,480,493
Taxable Governmental Issuer Loans [Member] | Poppy Grove II [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04
Interest Rate	6.78%
Total Initial Commitment	$ 10,941,300
Remaining Commitments as of September 30, 2022	$ 9,941,300
Property Loans [Member] | Hilltop at Signal Hills [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-01
Maturity Date	2023-08
Total Initial Commitment	$ 21,197,939
Remaining Commitments as of September 30, 2022	$ 2,229,605
Property Loans [Member] | Hilltop at Signal Hills [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%
Property Loans [Member] | Legacy Commons at Signal Hills [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-01
Maturity Date	2024-02
Total Initial Commitment	$ 32,233,972
Remaining Commitments as of September 30, 2022	$ 4,067,067
Property Loans [Member] | Legacy Commons at Signal Hills [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%
Property Loans [Member] | Osprey Village [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-07
Maturity Date	2024-08
Total Initial Commitment	$ 25,500,000
Remaining Commitments as of September 30, 2022	$ 24,500,000
Property Loans [Member] | Osprey Village [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%
Property Loans [Member] | Willow Place Apartments [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-09
Maturity Date	2024-10
Total Initial Commitment	$ 21,351,328
Remaining Commitments as of September 30, 2022	$ 20,351,328
Property Loans [Member] | Willow Place Apartments [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.30%
Property Loans [Member] | Magnolia Heights [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-06
Maturity Date	2024-07
Total Initial Commitment	$ 10,300,000
Remaining Commitments as of September 30, 2022	$ 9,300,000
Property Loans [Member] | Magnolia Heights [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.85%
Property Loans [Member] | Oasis at Twin Lakes [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2020-07
Maturity Date	2023-08
Total Initial Commitment	$ 27,704,180
Remaining Commitments as of September 30, 2022	$ 3,685,523
Property Loans [Member] | Oasis at Twin Lakes [Member] | LIBOR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	2.50%
Joint Venture Investments [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 9,914,529
Remaining Commitments as of September 30, 2022	$ 8,943,914
Joint Venture Investments [Member] | Vantage at San Marcos [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2020-11
Total Initial Commitment	$ 9,914,529
Remaining Commitments as of September 30, 2022	8,943,914
Joint Venture Investments [Member] | Vantage at Loveland [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	138,287,419
Remaining Commitments as of September 30, 2022	64,133,523
Bond Purchase Commitment [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	3,900,000
Remaining Commitments as of September 30, 2022	$ 3,900,000
Bond Purchase Commitment [Member] | Anaheim & Walnut [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-09
Maturity Date	Q3 2024
Interest Rate	4.85%
Total Initial Commitment	$ 3,900,000
Remaining Commitments as of September 30, 2022	$ 3,900,000

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Partnership's Total and Remaining Commitments (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2022	Apr. 30, 2022
The Residency at the Entrepreneur [Member] | Series J-4 [Member] | Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Fixed interest rate		8%
Minimum [Member]
Commitments And Other Guarantees [Line Items]
Extended maturity period	6 months
Minimum [Member] | Floor Rate [Member]
Commitments And Other Guarantees [Line Items]
Variable Interest Rate	0%
Maximum [Member]
Commitments And Other Guarantees [Line Items]
Extended maturity period	12 months
Maximum [Member] | Floor Rate [Member]
Commitments And Other Guarantees [Line Items]
Variable Interest Rate	0.85%

Commitments and Contingencies_4

Commitments and Contingencies - Additional Information (Details)	Sep. 30, 2022
Greens of Pine Glen [Member]
Commitments And Other Guarantees [Line Items]
Percentage of loss contingency, range of possible loss, maximum	75%

Commitments and Contingencies_5

Commitments and Contingencies - Summary of Partnership's Maximum Exposure Under Guaranty Agreements (Details)	9 Months Ended
	Sep. 30, 2022 USD ($)
Vantage At Stone Creek [Member]
Long-term Purchase Commitment [Line Items]
Guaranty Maturity	2023	[1]
Maximum Balance Available on Loan	$ 34,222,000	[1]
Loan Balance as of September 30, 2022	34,222,000	[1]
Partnership's Maximum Exposure as of September 30, 2022	$ 17,111,000	[1]
Vantage At Coventry [Member]
Long-term Purchase Commitment [Line Items]
Guaranty Maturity	2023	[1]
Maximum Balance Available on Loan	$ 34,536,000	[1]
Loan Balance as of September 30, 2022	34,536,000	[1]
Partnership's Maximum Exposure as of September 30, 2022	17,268,000	[1]
Ohio Properties [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of September 30, 2022	$ 2,661,066
End of Guaranty Period	2026
Greens of Pine Glen [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of September 30, 2022	$ 1,854,212
End of Guaranty Period	2027
[1] The Partnership’s guaranty is for 50 % of the loan balance. The Partnership has guaranteed up to 100 % of the outstanding loan balance upon the occurrence of fraud or other willful misconduct by the borrower or if the borrower voluntarily files for bankruptcy. The guaranty agreement requires the Partnership to maintain a minimum net worth of not less than $ 100.0 million and maintain liquid assets of not less than $ 5.0 million. The Partnership was in compliance with these requirements as of September 30, 2022. The Partnership has also provided indemnification to the lender for various costs including environmental non-compliance and remediation during the term.

Commitments and Contingencies_6

Commitments and Contingencies - Summary of Partnership's Maximum Exposure Under Guaranty Agreements (Parenthetical) (Details) - Vantage At Murfreesboro [Member] $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Commitments And Other Guarantees [Line Items]
Guarantee obligations loan balance percentage	50%
Construction loan guarantee percentage upon occurrence of fraud, borrower willful misconduct and bankruptcy	100%
Minimum [Member]
Commitments And Other Guarantees [Line Items]
Net worth to be maintained as per guaranty agreement	$ 100
Liquid assets to be maintained as per guaranty agreement	$ 5

Redeemable Preferred Units - Ad

Redeemable Preferred Units - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares
Series A Preferred Units or Series A-1 Preferred Units [Member]
Redemption Price per Unit	$ 10
Minimum threshold written notice period for redemption of temporary equity	180 days
Series B Preferred Units
Redemption Price per Unit	$ 10

Redeemable Preferred Units - Su

Redeemable Preferred Units - Summary of Issuances of Preferred Units (Details) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Preferred Units outstanding		9,450,000
Purchase Price		$ 94,500,000
Series A Preferred Units [Member]
Preferred Units outstanding		7,450,000	9,450,000
Purchase Price		$ 74,500,000	$ 94,500,000
Series A-1 Preferred Units [Member]
Preferred Units outstanding		2,000,000
Purchase Price		$ 20,000,000
Series A Preferred Units issued on March 2016 [Member]
Preferred Units outstanding		1,000,000	1,000,000
Purchase Price		$ 10,000,000	$ 10,000,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date	[1]	2024-03
Series A Preferred Units issued on May 2016 [Member]
Preferred Units outstanding			1,386,900
Purchase Price			$ 13,869,000
Distribution Rate			3%
Redemption Price per Unit			$ 10
Series A Preferred Units issued on September 2016 [Member]
Preferred Units outstanding		1,000,000	1,000,000
Purchase Price		$ 10,000,000	$ 10,000,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date	[2]	2023-09
Series A Preferred Units issued on December 2016 [Member]
Preferred Units outstanding		700,000	700,000
Purchase Price		$ 7,000,000	$ 7,000,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date	[1]	2023-12
Series A Preferred Units issued on March 2017 [Member]
Preferred Units outstanding		1,000,000	1,613,100
Purchase Price		$ 10,000,000	$ 16,131,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date		2023-03
Series A Preferred Units issued on August 2017 [Member]
Preferred Units outstanding		2,000,000	2,000,000
Purchase Price		$ 20,000,000	$ 20,000,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date		2023-08
Series A Preferred Units issued on October 2017 [Member]
Preferred Units outstanding		1,750,000	1,750,000
Purchase Price		$ 17,500,000	$ 17,500,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date		2023-10
Series A-1 Preferred Units issued on April 2022 [Member]
Preferred Units outstanding		2,000,000
Purchase Price		$ 20,000,000
Distribution Rate		3%
Redemption Price per Unit		$ 10
Earliest Redemption Date		2028-04
[1] The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. Accordingly, the holder's next optional redemption date is on the next anniversary of the sale of the Series A Preferred Units. The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. In October 2022, the holder exchanged its Series A Preferred Units for newly issued Series A-1 Preferred Units. See Note 24 below for further information regarding this exchange, which occurred after quarter end.

Restricted Unit Awards - Additi

Restricted Unit Awards - Additional Information (Details) - Restricted Unit Awards [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSU available for future issuance	453,000		453,000
Unrecognized compensation expense related to nonvested RUAs granted	$ 1,711,000		$ 1,711,000
Remaining compensation expense expected to be recognized over a weighted-average period			9 months 18 days
Intrinsic value of unvested RUAs			$ 2,900,000
General and Administrative Expenses [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 580,000	$ 571,000	$ 920,000	$ 840,000
Greystone Manager [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Approved grant of restricted units and other awards to employees	1,000,000		1,000,000
RUAs granted with vesting range			3 years
Greystone Manager [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RUAs granted with vesting range			3 months

Restricted Unit Awards - Summar

Restricted Unit Awards - Summary of RUA Activity (Details) - Restricted Unit Awards [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Restricted Units Awarded
Beginning Balance	77,523	44,271
Granted	91,813	88,775
Vested		(55,523)
Forfeited	(902)
Ending Balance	168,434	77,523
Weighted-average Grant-Date Fair Value
Beginning Balance	$ 18.18	$ 14.94
Granted	19.43	19.47
Vested		17.67
Forfeited	18.48
Ending Balance	$ 18.86	$ 18.18

Transactions with Related Par_3

Transactions with Related Parties - Summary of Transactions with Related Parties Reflected in the Partnership's Consolidated Financial Statements (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities	[1]	$ 139,000	$ 117,000	$ 314,000	$ 144,000
Referral fees paid to an affiliate	[2]		9,750	108,000	9,750
General Partner [Member]
Related Party Transaction [Line Items]
Administrative fees	[3]	$ 1,329,000	$ 1,003,000	$ 3,809,000	$ 2,956,000
[1] The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s condensed consolidated statements of operations. The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2022, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as loan origination costs that are deferred and amortized as a yield adjustment to the related investment asset. AFCA 2 is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its MRBs, taxable MRBs, GILs, taxable GILs, property loans collateralized by real property, and other investments for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to AFCA 2. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s condensed consolidated statements of operations.

Transactions with Related Par_4

Transactions with Related Parties - Summary of Transactions with Related Parties Reflected in the Partnership's Consolidated Financial Statements (Parenthetical) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transactions [Abstract]
Rate for administration fees receivable	0.45%	0.45%	0.45%	0.45%
Percentage of referral fee to be received in original principal amount		0.25%	0.25%	0.25%

Transactions with Related Par_5

Transactions with Related Parties - Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates (Details) - General Partner [Member] - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Non-partnership property administrative fee received	[1]	$ 9,000	$ 8,000	$ 26,000	$ 26,000
Investment/mortgage placement fees earned	[2]	$ 1,627,000	$ 1,349,000	$ 2,861,000	$ 4,131,000
[1] AFCA 2 received administrative fees directly from the owners of certain properties financed by certain MRBs held by the Partnership. These administrative fees equal 0.45 % per annum of the outstanding principal balance of the MRBs. The disclosed amounts represent administrative fees received by AFCA 2 during the periods specified. AFCA 2 received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities.

Transactions with Related Par_6

Transactions with Related Parties - Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates (Parenthetical) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transactions [Abstract]
Rate for administration fees receivable	0.45%	0.45%	0.45%	0.45%

Transactions with Related Par_7

Transactions with Related Parties - Additional Information (Details) - USD ($)		3 Months Ended	9 Months Ended
		Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Fee paid	[1]	$ 9,750	$ 108,000	$ 9,750
Receivables due from unconsolidated entities			311,000		$ 149,000
Outstanding liabilities due to related parties			977,000		$ 417,000
Greystone Select [Member]
Related Party Transaction [Line Items]
Fee paid			$ 0
[1] The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2022, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as loan origination costs that are deferred and amortized as a yield adjustment to the related investment asset.

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Range of Effective Yields and Weighted Average Effective Yields of Partnership's Investments (Details)		Sep. 30, 2022	Dec. 31, 2021
Taxable Mortgage Revenue Bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Weighted Average Effective Yields	[1]	6.80%	5.90%
Taxable Mortgage Revenue Bonds [Member] | Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		6.10%	4%
Taxable Mortgage Revenue Bonds [Member] | Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		11.20%	8.10%
Bond Purchase Commitment [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		5.20%
Weighted Average Effective Yields	[1]	5.20%	3.20%
Bond Purchase Commitment [Member] | Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields			3.20%
Bond Purchase Commitment [Member] | Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields			3.30%
Mortgage Revenue Bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Weighted Average Effective Yields	[1]	5.50%	3.10%
Mortgage Revenue Bonds [Member] | Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		3.20%	0.90%
Mortgage Revenue Bonds [Member] | Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		21%	19.10%
[1] Weighted by the total principal outstanding of all the respective securities as of the reporting date .

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Total Assets and Liabilities at Fair Value, net	$ 715,369,774	$ 798,246,109
Mortgage Revenue Bonds Held In Trust [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	675,905,519	750,934,848
Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	19,163,911	42,574,996
Bond Purchase Commitment [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value		964,404
Liabilities at Fair Value	(82,911)
Taxable Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	13,528,034	3,428,443
Derivative Financial Instruments (Reported within Other Assets) [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	6,855,221	343,418
Fair Value Inputs Level 2 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	6,471,662
Fair Value Inputs Level 2 [Member] | Derivative Financial Instruments (Reported within Other Assets) [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	6,471,662
Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Total Assets and Liabilities at Fair Value, net	708,898,112	798,246,109
Fair Value, Inputs, Level 3 [Member] | Mortgage Revenue Bonds Held In Trust [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	675,905,519	750,934,848
Fair Value, Inputs, Level 3 [Member] | Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	19,163,911	42,574,996
Fair Value, Inputs, Level 3 [Member] | Bond Purchase Commitment [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value		964,404
Liabilities at Fair Value	(82,911)
Fair Value, Inputs, Level 3 [Member] | Taxable Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	13,528,034	3,428,443
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments (Reported within Other Assets) [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	$ 383,559	$ 343,418

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Activity Related to Level 3 Assets and Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($)		3 Months Ended				9 Months Ended
		Sep. 30, 2022		Sep. 30, 2021		Sep. 30, 2022		Sep. 30, 2021
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		$ 739,143,486		$ 780,166,845		$ 798,246,109		$ 796,696,304
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		2,952,972		1,785,467		6,359,920		5,429,621
Total gain (losses) Included in earnings (provision for credit loss)								(900,080)
Total gain (losses) included in other comprehensive income		(22,780,560)		(4,577,438)		(91,367,669)		(18,982,426)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases		3,923,437		4,995,000		102,243,437		13,946,500
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		(14,341,223)		(35,582,579)		(105,723,152)		(49,402,624)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Other	[1]					(860,533)
Assets at Fair Value, ending balance		708,898,112		746,787,295		708,898,112		746,787,295
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets or liabilities held		2,836		(9,261)		147,585		(911,384)
Interest Rate Derivative Financial Instruments [Member]
Schedule of Available-for-sale Securities [Line Items]
Derivative Assets (Liabilities) at Fair Value, beginning balance		398,280		321,372		343,418		321,503
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		1,298,340		1,751,136		4,497,078		5,326,329
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements		(1,313,061)		(1,760,707)		(4,456,937)		(5,336,031)
Derivative Assets (Liabilities) at Fair Value, ending balance		383,559		311,801		383,559		311,801
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets or liabilities held		(14,509)		(9,261)		107,617		(11,304)
Bond Purchase Commitment [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		8,953		392,515		964,404		431,879
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in other comprehensive income		(91,864)		8,708		(1,047,315)		(30,656)
Assets at Fair Value, ending balance		(82,911)		401,223		(82,911)		401,223
Taxable Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		11,457,256		1,462,862		3,428,443		1,510,437
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		(4,860)				(14,932)
Total gain (losses) included in other comprehensive income		(221,686)		(24,463)		(553,379)		(67,309)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases		2,300,000		1,000,000		10,675,750		1,000,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		(2,676)		(2,445)		(7,848)		(7,174)
Assets at Fair Value, ending balance		13,528,034		2,435,954		13,528,034		2,435,954
Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		727,278,997	[2]	777,990,096	[3]	793,509,844	[4]	794,432,485	[5]
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		1,659,492	[2]	34,331	[3]	1,877,774	[4]	103,292	[5]
Total gain (losses) Included in earnings (provision for credit loss)	[5]							(900,080)
Total gain (losses) included in other comprehensive income		(22,467,010)	[2]	(4,561,683)	[3]	(89,766,975)	[4]	(18,884,461)	[5]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases		1,623,437	[2]	3,995,000	[3]	91,567,687	[4]	12,946,500	[5]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		(13,025,486)	[2]	(33,819,427)	[3]	(101,258,367)	[4]	(44,059,419)	[5]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Other	[1],[4]					(860,533)
Assets at Fair Value, ending balance		695,069,430	[2]	$ 743,638,317	[3]	695,069,430	[2]	743,638,317	[3]
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets or liabilities held		$ 17,345	[2]			$ 39,968	[4]	$ (900,080)	[5]
[1] The other line is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan (Notes 6 and 10). Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership.

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Fair Value of Partnership's Financial Liabilities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Mortgages payable and other secured financing	$ 26,230,855	$ 26,824,543
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt financing	962,615,366	820,078,714
Secured lines of credit	30,942,000	45,714,000
Mortgages payable and other secured financing	26,230,855	26,824,543
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt financing	952,670,119	854,428,834
Secured lines of credit	30,942,000	45,714,000
Mortgages payable and other secured financing	$ 26,231,893	$ 26,825,840

Segments - Additional Informati

Segments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 Security Unit Property Segment
Segment Reporting Information [Line Items]
Number of Reportable Segments | Segment	4
Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of Available for Sale Securities | Security	73
Number of available for sale securities in tax-exempt loan | Security	13
MF Properties Segment [Member]
Segment Reporting Information [Line Items]
Number of Real Estate Properties | Property	2
Number of rental units under MF properties segment	859
Residential Properties [Member] | Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of rental units financed by mortgage revenue bonds	10,337
Number of rental units financed by tax-exempt loan	2,419
Residential Properties [Member] | Seniors and Skilled Nursing Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of rental units financed by mortgage revenue bonds	154
Commercial Real Estate [Member] | Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of collateralized securities | Security	1

Segments - Summary of Partnersh

Segments - Summary of Partnership Reportable Segment Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Total revenues
Total revenues	$ 22,604,404	$ 17,681,901	$ 59,043,742	$ 48,475,885
Interest expense
Interest expense	8,035,982	5,663,452	18,750,079	16,248,023
Depreciation expense
Depreciation expense	688,488	680,925	2,056,512	2,049,269
Net income (loss)
Net income (loss)	18,516,593	12,988,384	62,387,292	30,245,918
Total assets
Total assets	1,450,086,995		1,450,086,995		$ 1,385,909,483
Operating Segments [Member] | Affordable Multifamily MRB Investments [Member]
Total revenues
Total revenues	18,423,127	12,795,214	45,443,505	34,624,484
Interest expense
Interest expense	7,530,723	5,186,465	17,309,510	15,166,356
Depreciation expense
Depreciation expense	5,962	5,912	17,885	17,534
Net income (loss)
Net income (loss)	6,375,471	3,453,537	16,099,041	7,293,774
Total assets
Total assets	1,388,462,019		1,388,462,019		1,304,626,248
Operating Segments [Member] | Seniors and Skilled Nursing MRB Investments [Member]
Total revenues
Total revenues	194,296		664,579
Interest expense
Interest expense	5,750		5,750
Net income (loss)
Net income (loss)	187,921		656,954
Total assets
Total assets	(903,056)		(903,056)		13,533,020
Operating Segments [Member] | Market-Rate Joint Venture Investments [Member]
Total revenues
Total revenues	2,072,781	3,074,909	7,149,916	8,556,926
Interest expense
Interest expense	226,247	193,876	619,928	234,375
Net income (loss)
Net income (loss)	12,423,255	9,836,133	46,185,380	23,546,743
Total assets
Total assets	107,181,273		107,181,273		112,052,513
Operating Segments [Member] | MF Properties [Member]
Total revenues
Total revenues	1,914,200	1,811,778	5,785,742	5,294,475
Interest expense
Interest expense	273,262	283,111	814,891	847,292
Depreciation expense
Depreciation expense	682,526	675,013	2,038,627	2,031,735
Net income (loss)
Net income (loss)	(470,054)	$ (301,286)	(554,083)	$ (594,599)
Total assets
Total assets	61,772,595		61,772,595		66,501,994
Consolidation, Eliminations [Member]
Total assets
Total assets	$ (106,425,836)		$ (106,425,836)		$ (110,804,292)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	1 Months Ended		9 Months Ended
	Oct. 31, 2022	Jul. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Additional debt financing proceeds			$ 303,630,000	$ 116,800,000
Trust 2021-XF2953 [Member] | TOB Trust [Member]
Subsequent Event [Line Items]
Additional debt financing proceeds	$ 2,400,000	$ 12,600,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Percentage of maximum notional amount of interest rate swap	1%
Collateral amount upon closing of interest rate swap agreement	$ 1,000,000
Subsequent Event [Member] | Series A-1 Preferred Units [Member]
Subsequent Event [Line Items]
Number of shares issued in exchange transaction	1,000,000
Subsequent Event [Member] | Series A Preferred Units [Member]
Subsequent Event [Line Items]
Outstanding shares held by financial institution	1,000,000
Subsequent Event [Member] | Freestone at Greeley [Member]
Subsequent Event [Line Items]
Equity commitment of fund construction	$ 16,000,000

Subsequent Events - Summary of

Subsequent Events - Summary of Initial Terms of TOB Trust Financings (Details) - USD ($)	1 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	[1]
Subsequent Event [Line Items]
TOB Trust Financing		$ 962,615,366	$ 820,078,714
TOB Trust [Member]
Subsequent Event [Line Items]
TOB Trust Financing		$ 67,092,000		$ 31,820,000
TOB Trust [Member] | Barclays | Subsequent Event [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 14,110,000
TOB Trust [Member] | Barclays | Subsequent Event [Member] | Poppy Grove I [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 5,397,000
Stated Maturity	2023-10
Reset Frequency	Weekly
SIFMA Based Rates	2.60%
Facility Fees	1.25%
Interest Rate	3.85%
TOB Trust [Member] | Barclays | Subsequent Event [Member] | Poppy Grove II [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 2,833,000
Stated Maturity	2023-10
Reset Frequency	Weekly
SIFMA Based Rates	2.60%
Facility Fees	1.25%
Interest Rate	3.85%
TOB Trust [Member] | Barclays | Subsequent Event [Member] | Poppy Grove III [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 5,880,000
Stated Maturity	2023-10
Reset Frequency	Weekly
SIFMA Based Rates	2.60%
Facility Fees	1.25%
Interest Rate	3.85%
[1] Amounts shown are the initial funding into the respective TOB trusts. The balances will increase based upon subsequent fundings of the related securitized assets and the current outstanding balances are contained in the summarized debt financing table above.

Subsequent Events - Summary o_2

Subsequent Events - Summary of Terms of Interest Rate Swap Agreement (Details) - USD ($)		1 Months Ended	9 Months Ended	12 Months Ended
		Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Derivative, Notional Amount			$ 102,800,000
Mizuho Capital Markets 1 [Member]
Subsequent Event [Line Items]
Derivative, Trade Date			2022-02	2020-09
Derivative, Notional Amount			$ 55,990,000	$ 39,607,744
Derivative Effective Date			Feb. 09, 2022
Derivative Termination Date			Feb. 01, 2024
Derivative Fixed Interest Rate Paid			1.40%
Derivative, Variable Rate Index			SOFR	3-month LIBOR
Derivative, Variable Debt Financing Hedged	[1]		TOB Trusts
Subsequent Event [Member] | Mizuho Capital Markets 1 [Member]
Subsequent Event [Line Items]
Derivative, Trade Date		2022-10
Derivative, Notional Amount	[2]	$ 34,436,088
Derivative Effective Date		Apr. 01, 2023
Derivative Termination Date		Apr. 01, 2025
Derivative Fixed Interest Rate Paid		3.92%
Derivative, Variable Rate Index		SOFR
Derivative, Variable Debt Financing Hedged		TOB Trusts
[1] See Notes 15 and 22 for additional details. The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million.

Subsequent Events - Summary o_3

Subsequent Events - Summary of Terms of Interest Rate Swap Agreements (Parenthetical) (Details) - USD ($)		Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Derivative notional amount			$ 102,800,000
Mizuho Capital Markets 1 [Member]
Subsequent Event [Line Items]
Derivative notional amount			$ 55,990,000	$ 39,607,744
Subsequent Event [Member] | Mizuho Capital Markets 1 [Member]
Subsequent Event [Line Items]
Derivative notional amount	[1]	$ 34,436,088
Subsequent Event [Member] | Mizuho Capital Markets 1 [Member] | Maximum [Member]
Subsequent Event [Line Items]
Derivative notional amount		$ 99,600,000
[1] The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million.