Greystone Housing Impact Investors (GHI) 10-Q 6 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014
Entity Registrant Name	'AMERICA FIRST MULTIFAMILY INVESTORS, L.P.
Entity Central Index Key	'0001059142
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Accelerated Filer
Document Type	'10-Q
Document Period End Date	30-Sep-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q3
Amendment Flag	'false
Entity Common Stock, Units Outstanding	0

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Assets [Abstract]	'	'
Cash and cash equivalents	$64,511,676	$11,318,015
Restricted cash	11,108,005	6,845,543
Interest receivable	5,176,170	3,342,038
Mortgage revenue bonds held in trust, at fair value	350,940,711	216,371,801
Mortgage revenue bonds, at fair value	53,848,411	68,946,370
Public housing capital fund trusts, at fair value	60,537,086	62,056,379
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	38,878,702	37,845,661
Real estate assets:	'	'
Land and improvements	11,083,192	11,081,992
Buildings and improvements	131,479,005	111,195,695
Real estate assets before accumulated depreciation	142,562,197	122,277,687
Accumulated depreciation	-23,063,099	-19,128,753
Net real estate assets	119,499,098	103,148,934
Other assets	31,508,014	24,358,291
Total assets	736,007,873	534,233,032
Liabilities [Abstract]	'	'
Accounts payable, accrued expenses and other liabilities	7,401,339	5,450,694
Distribution payable	7,607,692	6,446,076
Debt financing	346,957,000	257,274,000
Mortgages payable	72,585,842	57,087,320
Bond Purchase Commitment - Fair Market Value Adjustment	0	4,852,177
Total Liabilities	434,551,873	331,110,267
Commitments and Contingencies	'	'
Partners' Capital	'	'
General Partner	491,349	16,671
Beneficial Unit Certificate holders	321,855,180	223,573,312
Unallocated deficit of Consolidated VIEs	-20,875,581	-20,455,896
Total Partners' Capital	301,470,948	203,134,087
Noncontrolling interest	-14,948	-11,322
Total Capital	301,456,000	203,122,765
Total Liabilities and Partners' Capital	$736,007,873	$534,233,032

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues [Abstract]	'	'	'	'
Property revenues	$4,474,551	$4,299,376	$12,345,539	$11,984,229
Investment income	6,958,323	5,247,808	19,405,356	17,559,622
Gain on sale of bonds	0	0	3,684,898	0
Contingent Interest Income	0	0	0	6,497,160
Interest Income, Operating	222,074	216,993	672,974	1,558,158
Other income	188,000	0	188,000	250,000
Total Revenues	11,842,948	9,764,177	36,296,767	37,849,169
Expenses [Abstract]	'	'	'	'
Real estate operating (exclusive of items shown below)	2,590,602	2,609,955	6,961,065	6,982,316
Realized loss on taxable property loan	0	0	0	4,557,741
Provision for loan loss	75,000	72,000	75,000	168,000
Provision for loss on receivables	0	0	0	241,698
Depreciation and amortization	1,829,086	1,762,224	4,967,428	5,004,682
Interest	2,633,892	2,325,372	7,204,292	5,287,994
General and administrative	1,409,688	985,778	4,079,493	3,097,713
Total Expenses	8,538,268	7,755,329	23,287,278	25,340,144
Income (loss) from continuing operations	3,304,680	2,008,848	13,009,489	12,509,025
Income from discontinued operations	0	1,342,498	0	3,442,404
Net income (loss)	3,304,680	3,351,346	13,009,489	15,951,429
Net income (loss) attributable to noncontrolling interest	3,149	59,913	3,626	-263,584
Net income (loss) - America First Tax Exempt Investors, L.P.	3,307,829	3,411,259	13,013,115	15,687,845
Net income (loss) allocated to:	'	'	'	'
General Partner	34,731	373,696	1,024,350	1,393,480
Limited Partners - Unitholders	3,438,330	3,356,268	12,408,450	15,156,168
Unallocated loss of Consolidated VIEs	-165,232	-318,705	-419,685	-861,803
Noncontrolling interest	($3,149)	($59,913)	($3,626)	$263,584
Unitholders' interest in net income per unit (basic and diluted):	'	'	'	'
Income from continuing operations	$0.06	$0	$0.21	$0.27
Income from discontinued operations	$0	$0.03	$0	$0.08
Net income (loss), basic and diluted, per unit	$0.06	$0.08	$0.21	$0.35
Distributions declared, per unit	$0.13	$0.13	$0.38	$0.38
Weighted average number of units outstanding, basic and diluted	60,252,928	42,772,928	59,154,027	42,772,928

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Operations Parenthetical (USD $)	3 Months Ended
	Sep. 30, 2013
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	$1,775,527

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net income (loss)	$3,304,680	$3,351,346	$13,009,489	$15,951,429
Unrealized Gain (Loss) on Securities	'	'	52,089,784	-29,501,541
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	-7,821,118	'	'	'
Net Income (Loss) Allocated to General Partners	34,731	373,696	1,024,350	1,393,480
Net income (loss) allocated to unitholders	3,438,330	3,356,268	12,408,450	15,156,168
Unallocated loss of Consolidated VIEs	-165,232	-318,705	-419,685	-861,803
Net income (loss) attributable to noncontrolling interest	3,149	59,913	3,626	-263,584
Accumulated Other Comprehensive Income (Loss) [Member]	'	'	'	'
Net income (loss)	'	'	0	0
Unrealized Gain (Loss) on Securities	'	'	52,089,784	-29,501,541
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	-7,821,118	'	'	'
Net Income (Loss) Allocated to General Partners	222,869	133,443	1,601,921	1,098,465
Net income (loss) allocated to unitholders	22,064,015	-20,428,811	69,588,017	-14,050,358
Unallocated loss of Consolidated VIEs	-165,232	-318,705	-419,685	-861,803
Net income (loss) attributable to noncontrolling interest	-3,149	-59,913	-3,626	263,584
Comprehensive income - America First Tax Exempt Investors, L.P.	22,118,503	-20,673,986	70,766,627	-13,550,112
Mortgage revenue bonds [Member] | Accumulated Other Comprehensive Income (Loss) [Member]	'	'	'	'
Unrealized Gain (Loss) on Securities	-16,179,249	-19,159,797	-52,089,784	-24,636,006
Commitments [Member]	'	'	'	'
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	-2,600,000	'	-7,800,000	'
Commitments [Member] | Accumulated Other Comprehensive Income (Loss) [Member]	'	'	'	'
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	($2,634,574)	$4,865,535	($7,821,118)	$4,865,535

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Partners' Capital (USD $)

Total

General Partner

Number of Units

Beneficial Unit Certificate Holders

Unallocated Deficit of Consolidated VIEs

Noncontrolling Interest

Accumulated Other Comprehensive Income (Loss) [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

General Partner

Beneficial Unit Certificate Holders

Noncontrolling Interest

Accumulated Other Comprehensive Income (Loss) [Member]

USD ($)

General Partner

Beneficial Unit Certificate Holders

Noncontrolling Interest

Accumulated Other Comprehensive Income (Loss) [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Balance at Dec. 31, 2012

$183,970,931

($430,087)

'

$207,383,087

($25,035,808)

$2,053,739

$7,161,381

'

'

'

'

'

'

'

'

'

'

Partners' Capital Account, Units at Dec. 31, 2012

'

'

42,772,928

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deconsolidation of Discontinued Operations

'

'

'

'

'

'

'

393,401

14,064

1,392,303

-1,012,966

1,406,367

-1,314,018

0

0

-1,314,018

0

Proceeds from Sale of Available-for-sale Securities

0

'

'

'

'

'

'

-651,849

-6,518

-645,331

0

-651,849

'

'

'

'

'

Foreclosure of Available-for-Sale Securities

0

'

'

'

'

'

'

4,080,734

40,807

4,039,927

0

4,080,734

'

'

'

'

'

Distributions paid or accrued

-16,672,028

-632,180

'

-16,039,848

0

0

0

'

'

'

'

'

'

'

'

'

'

Net income (loss)

15,951,429

1,393,480

'

15,156,168

-861,803

263,584

0

'

'

'

'

'

'

'

'

'

'

Unrealized Gain (Loss) on Securities

-29,501,541

-295,015

'

-29,206,526

0

0

-29,501,541

'

'

'

'

'

'

'

'

'

'

Balance at Sep. 30, 2013

156,257,059

84,551

'

182,079,780

-25,897,611

-9,661

-17,504,908

'

'

'

'

'

'

'

'

'

'

Balance at Dec. 31, 2013

203,122,765

16,671

'

223,573,312

-20,455,896

-11,322

-20,128,314

'

'

'

'

'

'

'

'

'

'

Partners' Capital Account, Units at Dec. 31, 2013

'

'

51,052,928

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock Issued During Period, Shares, New Issues

'

'

9,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Issuance of Common Stock

51,288,699

'

'

51,288,699

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Sale of Available-for-sale Securities

-2,413,713

-24,137

'

-2,389,576

'

'

-2,413,713

'

'

'

'

'

'

'

'

'

'

Realized Comprehensive Income from Redemption of Available-for-sale Security, Mortgage-backed Securities

259,949

2,599

'

257,350

0

0

259,949

'

'

'

'

'

'

'

'

'

'

Distributions paid or accrued

-23,722,091

-1,127,243

'

-22,594,848

0

0

0

'

'

'

'

'

'

'

'

'

'

Net income (loss)

13,009,489

1,024,350

'

12,408,450

-419,685

-3,626

0

'

'

'

'

'

'

'

'

'

'

Unrealized Gain (Loss) on Securities

52,089,784

520,898

'

51,568,886

0

0

52,089,784

'

'

'

'

'

'

'

'

'

'

Balance at Sep. 30, 2014

301,456,000

491,349

'

321,855,180

-20,875,581

-14,948

37,628,824

'

'

'

'

'

'

'

'

'

'

Balance at Jun. 30, 2014

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income (loss)

3,304,680

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax

7,821,118

78,211

'

7,742,907

0

0

7,821,118

'

'

'

'

'

'

'

'

'

'

Balance at Sep. 30, 2014

$301,456,000

$491,349

'

$321,855,180

($20,875,581)

($14,948)

$37,628,824

'

'

'

'

'

'

'

'

'

'

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Cash flows from operating activities:	'	'	'
Net income (loss)	$13,009,489	$15,951,429	'
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:	'	'	'
Depreciation and amortization expense	4,967,428	5,014,542	'
Provision for loan loss	75,000	168,000	'
Provision for loss on receivables	0	241,698	'
Non-cash gain (loss) on derivatives	766,105	304,085	'
Bond discount and premium amortization and accretion	-141,259	-249,476	'
Gain on sale of bonds	-3,684,898	0	'
Gain on the sale of the Ohio Properties	0	-3,177,183	'
Contingent Interest Income	0	-6,497,160	'
Realized loss on taxable property loan	0	4,557,741	'
Changes in operating assets and liabilities, net of effect of acquisitions	'	'	'
Increase (decrease) in interest receivable	-1,906,569	-5,453,828	'
(Increase) decrease in other assets	-1,111,332	967,217	'
Increase (decrease) in accounts payable and accrued expenses	-1,035,286	-753,912	'
Net cash provided (used) by operating activities	10,938,678	11,073,153	'
Cash flows from investing activities:	'	'	'
Capital expenditures	-17,371,032	-6,903,635	'
Acquisition of tax-exempt mortgage revenue bonds	-107,770,827	-72,752,000	'
Proceeds from the sale/redemption of bonds	35,483,230	21,935,343	'
Acquisition of mortgage-backed securities	0	-27,778,000	'
Purchase of rate derivative	-1,382,900	-793,000	'
Acquisition of partnerships, net of cash acquired	0	4,064,089	'
Change in restricted cash - Greens Property sale	0	2,546,363	'
Acquisition of mortgage-backed securities	0	-12,629,888	'
Acquisition of taxable bonds	0	2,918,000	'
Deposit on MF Property	0	-100,000	'
Decrease in restricted cash	-475,208	68,418	'
Net increase in notes receivable	138,693	402,000	'
Proceeds from the sale of discontinued operations	0	22,610,000	'
Restricted cash - debt collateral released	1,999,973	-4,500,000	'
Restricted cash - 2014 TEBS financing facility	-6,252,000	0	'
Principal payments received on taxable bonds	6,665,718	1,776,418	'
Net cash provided (used) by investing activities	-89,241,739	-75,775,892	'
Cash flows from financing activities:	'	'	'
Distributions paid	-22,560,474	-16,838,315	'
Principal borrowings on mortgages payable	168,795,000	42,530,000	'
Principal borrowing on line of credit	18,322,562	15,300,343	'
Proceeds from sale of beneficial unit certificates	54,740,000	0	'
Payments of Stock Issuance Costs	-3,451,301	0	-3,500,000
Principal payments on debt and mortgage financing	-79,112,000	-1,479,000	'
Repayments of Debt	-2,824,041	-261,179	'
Net change in line of credit	0	16,015,900	'
Principal payments on line of credit	0	-8,565,900	'
Increase (decrease) in liabilities related to restricted cash	475,208	-68,418	'
Debt financing costs	2,888,232	355,585	'
Net cash (used) provided by financing activities	131,496,722	46,277,846	'
Net increase (decrease) in cash and cash equivalents	53,193,661	-18,424,893	'
Cash and cash equivalents at beginning of period, including discontinued operations	11,318,015	'	'
Cash and cash equivalents at end of period, including discontinued operations	64,511,676	11,906,607	11,318,015
Cash paid during the period for interest	6,043,660	4,657,186	'
Distributions declared but not paid	7,607,693	5,400,622	'
Capital expenditures financed through payables	3,005,210	1,110,092	'
Conversion of Woodland Park mortgage revenue bond to MF Property	0	15,662,000	'
Deconsolidation of the Ohio Properties - noncontrolling interest	0	2,326,984	'
Taxable loans receivable - Ohio Properties	$0	($2,086,236)	'

Condensed_Consolidated_Stateme5

Condensed Consolidated Statements of Cash Flows Parenthetical Tagging (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	$0	$0	$0	$158,727

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2014
Basis of Presentation [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	Basis of Presentation
	General
	America First Multifamily Investors, L.P. (the “Partnership”) was formed on April 2, 1998, under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing of multifamily residential properties.  The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes.  As a result, most of the income earned by the Partnership is exempt from federal income taxes.  The Partnership may also invest in other types of securities that may or may not be secured by real estate and may make taxable property loans secured by multifamily properties which are financed by mortgage revenue bonds held by the Partnership.  The Partnership generally does not seek to acquire direct interests in real property as long term or permanent investments.  The Partnership may, however, acquire real estate securing its mortgage revenue bonds or taxable mortgage loans through foreclosure in the event of a default.  In addition, the Partnership may acquire interests in multifamily apartment properties (“MF Properties”) in order to position itself for future investments in mortgage revenue bonds issued to finance these properties. The Partnership expects to sell its interest in these MF Properties in connection with the future syndication of low income housing tax credits under Section 42 of the Internal Revenue Code (“LIHTCs”) or to a tax-exempt organization and to acquire mortgage revenue bonds on these properties to provide debt financing to the new owners.
	Our general partner is America First Capital Associates Limited Partnership Two (“AFCA 2” or “General Partner”).  The general partner of AFCA2 is The Burlington Capital Group LLC (“Burlington”). The Partnership has issued Beneficial Unit Certificates (“BUCs”) representing assigned limited partner interests to investors (“unitholders”).  The Partnership will terminate on December 31, 2050, unless terminated earlier under provisions of its Agreement of Limited Partnership.
	The “Company” refers to the consolidated financial statements reported in this Form 10-Q which include the assets, liabilities, and results of operations of the Partnership, its Consolidated Subsidiaries (defined below) and two entities in which the Partnership does not hold an ownership interest but which own multifamily apartment properties financed with mortgage revenue bonds held by the Partnership and which are treated as variable interest entities (“VIEs”) of which the Partnership has been determined to be the primary beneficiary (the “Consolidated VIEs”). On September 30, 2014, the Consolidated Subsidiaries of the Partnership consist of:
	•	ATAX TEBS I, LLC, a special purpose entity owned and controlled by the Partnership, created in 2010 to hold mortgage revenue bonds in order to facilitate the Tax Exempt Bond Securitization (“TEBS”) Financing with Freddie Mac (Note 10).
	•	ATAX TEBS II, LLC, a special purpose entity owned and controlled by the Partnership, created in 2014 to hold mortgage revenue bonds in order to facilitate the second TEBS Financing with Freddie Mac (Note 10).
	•	Nine multifamily apartments (“MF Properties”) which are either wholly or majority owned by subsidiaries of the Partnership.
	Stand alone financial information of the Partnership reported in this Form 10-Q includes only the assets, liabilities, and results of operations of the Partnership and its Consolidated Subsidiaries (hereafter the “Partnership”) without the Consolidated VIEs.  In the Company’s consolidated financial statements, all transactions and accounts between the Partnership, the Consolidated Subsidiaries and the Consolidated VIEs have been eliminated in consolidation.  The Partnership does not believe that the consolidation of VIEs for reporting under accounting principles generally accepted in the United States of America (“GAAP”) affects the Partnership’s status as a partnership for federal income tax purposes or the status of unitholders as partners of the Partnership, the treatment of the mortgage revenue bonds on the properties owned by Consolidated VIEs as debt, the nature of the interest payments, which it believes to be tax-exempt, received on the mortgage revenue bonds secured by the properties owned by Consolidated VIEs or the manner in which the Partnership’s income is reported to unitholders on IRS Form K-1.
	The unallocated deficit of the Consolidated VIEs is primarily comprised of the accumulated historical net losses of the Consolidated VIEs since the applicable consolidation date. The unallocated deficit of the VIEs and the VIEs’ net losses subsequent to that date are not allocated to the General Partner and unitholders as such activity is not contemplated by, or addressed in, the Agreement of Limited Partnership.
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at 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 according to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted according to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. These condensed consolidated financial statements and notes have been prepared consistently with the 2013 Form 10-K. In the opinion of management, all adjustments (consisting of normal and recurring accruals) necessary to present fairly the financial position as of September 30, 2014, and the results of operations for the interim periods presented have been made. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year.
	Subsequent to the issuance of the Company’s financial statements on Form 10-K for the period ended December 31, 2013, certain amounts included in the Consolidated Balance Sheet have been restated to correct an error related to the presentation of interest receivable on taxable loans.  Such correction recorded the loan loss reserve related to interest receivable against the interest receivable line of the consolidated balance sheet rather than against the other assets line, which includes the principle amount of taxable loans.   This correction resulted in a decrease in interest receivable and an increase in other assets of approximately $6.2 million.  This correction did not have an impact on total assets as reported in the Consolidated Balance Sheets and did not have an impact on the Consolidated Statements of Operations for all periods presented. The statement of cash flows has also been restated to reflect this adjustment.

Partnership_Income_Expense_and

Partnership Income, Expense and Cash Distributions	9 Months Ended
	Sep. 30, 2014
Partnership Income, Expenses and Cash Distributions [Abstract]	'
Partnership Income Expenses and Cash Distributions [Text Block]	'
	Partnership Income, Expenses and Cash Distributions
	The Agreement of Limited Partnership of the Partnership 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 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 BUCs held by each unitholder as of such date. For purposes of the Agreement of Limited Partnership, cash distributions, if any, received by the Partnership from its indirect interest in MF Properties (Note 7) will be included in the Partnership’s Interest Income and cash distributions received by the Partnership from the sale of such properties will be included in the Partnership’s Residual Proceeds.
	Cash distributions are currently made on a quarterly basis but may be made on a monthly or semiannual basis at the election of AFCA 2.  On each distribution date, Net Interest Income is distributed 99% to the unitholders and 1% to AFCA 2 and Net Residual Proceeds are distributed 100% to unitholders except that Net Interest Income and Net Residual Proceeds representing contingent interest in an amount equal to 0.9% per annum of the principal amount of the mortgage revenue bonds on a cumulative basis (defined as Net Interest Income (Tier 2) and Net Residual Proceeds (Tier 2), respectively) are distributed 75% to the unitholders and 25% to AFCA 2.

Variable_Interest_Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2014
Variable Interest Entities [Abstract]	'
Variable interest entities [Text Block]	'
	Variable Interest Entities
	The Partnership invests in mortgage revenue bonds which have been issued to provide construction and/or permanent financing of multifamily residential apartments.  The Partnership owns 100% of these mortgage revenue bonds and each bond is secured by a first mortgage on the property.  In certain cases, the Partnership has also made taxable property loans to the property owners which are secured by second mortgages on these properties.  Although each multifamily property financed with mortgage revenue bonds held by the Partnership is owned by a separate entity in which the Partnership has no equity ownership interest, the debt financing provided by the Partnership creates a variable interest in these ownership entities that may require the Partnership to report the assets, liabilities, and results of operations of these entities on a consolidated basis under GAAP.
	At September 30, 2014 and December 31, 2013, the Partnership determined that five of the entities financed by mortgage revenue bonds owned by the Partnership were held by VIEs.  These VIEs were Ashley Square, Bent Tree, Bruton Apartments, Cross Creek, and Fairmont Oaks. The Partnership then determined that it is the primary beneficiary of two of these VIEs; Bent Tree and Fairmont Oaks and has continued to consolidate these entities. As of September 30, 2013, a fifth entity, Lake Forest, which is also financed by a mortgage revenue bond owned by the Partnership, was held by a VIE. Effective December 1, 2013, the ownership of Lake Forest became a not-for-profit entity and Lake Forest ceased to be reported as a Consolidated VIE.
	The Partnership does not hold an equity interest in these VIEs. Therefore, the assets of the VIEs cannot be used to settle the general commitments of the Partnership and the Partnership is not responsible for the commitments and liabilities of the VIEs.  The primary risks to the Partnership associated with these VIEs relate to the entities’ ability to meet debt service obligations to the Partnership and the valuation of the underlying multifamily apartment property which serves as bond collateral.
	The following is a discussion of the significant judgments and assumptions made by the Partnership in determining the primary beneficiary of the VIE and, therefore, whether the Partnership must consolidate the VIE.
	Consolidated VIEs
	In determining the primary beneficiary of these VIEs, the Partnership considers the activities of the VIE which most significantly impact the VIEs’ economic performance, who has the power to control such activities, the risks which the entities were designed to create, the variability associated with those risks and the interests which absorb such variability.  The Partnership also considers the related party relationship of the entities involved in the VIEs.  At September 30, 2014 and December 31, 2013, the Partnership determined it is the primary beneficiary of the Bent Tree and Fairmont Oaks VIEs. The capital structure of Bent Tree and Fairmont Oaks VIEs consists of senior debt, subordinated debt, and equity capital. The senior debt is in the form of a mortgage revenue bond and accounts for the majority of the VIEs’ total capital. As the bondholder, the Partnership is entitled to principal and interest payments and has certain protective rights as established by the bond documents. The equity ownership of the consolidated VIEs is ultimately held by corporations which are owned by four individuals, two of which are related parties.  Additionally, each of these properties is managed by an affiliate of the Partnership, America First Properties Management Company, LLC (“Properties Management”) which is an affiliate of Burlington Capital Group, LLC (“Burlington”).
	Non-Consolidated VIEs
	The Company did not consolidate three VIE entities, Ashley Square, Bruton Apartments, and Cross Creek as of September 30, 2014 based on its determination of the primary beneficiary of these three VIE entities. As discussed below, while the capital structures of these VIEs resulted in the Partnership holding a majority of the variable interests in these VIEs, the Partnership determined it does not have the power to direct the activities of these VIEs that most significantly impact the VIEs’ economic performance and, as a result, is not the primary beneficiary of these VIEs.
	Ashley Square –  Ashley Square Housing Cooperative acquired the ownership of the Ashley Square Apartments in December 2008 from Ashley Square LLC through a warranty deed of transfer and an assumption of debt.  This transfer of ownership constituted a reconsideration event as outlined in the consolidation guidance which triggered a re-evaluation of the holders of variable interests to determine the primary beneficiary of the VIE.  The capital structure of the VIE consists of senior debt, subordinated loans and equity capital.  The senior debt is in the form of mortgage revenue bonds that are 100% owned by the Partnership and account for the majority of the VIE’s total capital.  As the bondholder, the Partnership is entitled to principal and interest payments and has certain protective rights as established by the bond documents.  The VIE is organized as a housing cooperative and the 99% equity owner of this VIE is The Foundation for Affordable Housing (“FAH”), an unaffiliated Nebraska not-for-profit organization.  Additionally, this property is managed by Properties Management.
	Bruton Apartments - Bruton Apartments Ltd. is the owner of Bruton Apartments. On August 1, 2014 Burton Apartments Ltd. entered into a new operating agreement with unaffiliated investors. At the time the mortgage revenue bonds were issued and purchased by the Partnership the unaffiliated investors had not contributed sufficient equity at risk pursuant to the Consolidation guidance. As a result Bruton Apartments is considered a VIE. As the Partnership does not have the power to direct the activities that most significantly impact the economic performance of the entity as such, the Partnership does not consolidate this VIE.
	Cross Creek –  Cross Creek Apartments Holdings LLC is the owner of the Cross Creek Apartments.  On January 1, 2010, Cross Creek Apartment Holdings LLC entered into a new operating agreement and admitted three new members.  These new members committed approximately $2.2 million of capital payable in three installments including $563,000 on January 1, 2010.  The new operating agreement and admission of new owner members constituted a reconsideration event as outlined in the consolidation guidance which triggered a re-evaluation of the holders of variable interests to determine the primary beneficiary of the VIE.  The capital structure of the VIE consists of senior debt, subordinated loans, and equity capital at risk.  The senior debt is in the form of mortgage revenue bonds that are 100% owned by the Partnership and account for the majority of the VIE’s total capital.  As the bondholder, the Partnership is entitled to principal and interest payments and has certain protective rights as established by the bond documents.  The three newly admitted members of this VIE are each unaffiliated with the Partnership and have contributed significant equity capital to the VIE.  These members collectively control a 99% interest in the VIE.  The other 1% member of this VIE is FAH, which is also unaffiliated with the Partnership.  Additionally, this property is managed by Properties Management.
	The following table presents information regarding the carrying value and classification of the assets held by the Partnership as of September 30, 2014 which constitute a variable interest in Ashley Square, Bruton Apartments, and Cross Creek.
		Balance Sheet Classification		Carrying Value				Maximum Exposure to Loss
	Ashley Square Apartments
	Mortgage Revenue Bond	Bond Investment		$	5,583,142			$	5,174,000
	Taxable Property Loan	Other Asset		1,482,000				7,392,872
				$	7,065,142			$	12,566,872
	Bruton Apartments
	Mortgage Revenue Bond	Bond Investment		$	19,295,756			$	18,145,000
	Cross Creek Apartments
	Mortgage Revenue Bond	Bond Investment		$	8,347,096			$	6,067,212
	Taxable Property Loans	Other Asset		3,498,615				3,498,615
				$	11,845,711			$	9,565,827
	The mortgage revenue bonds are classified on the balance sheet as available for sale investments and are carried at fair value while taxable property loans are presented on the balance sheet as Other assets and are carried at the unpaid principal less any loan loss reserves.  See Note 4 for additional information regarding the mortgage revenue bonds and Note 8 for additional information regarding the taxable property loans.  The maximum exposure to loss for the mortgage revenue bonds is equal to the unpaid principal balance as of September 30, 2014.  The difference between the mortgage revenue bond’s carrying value and the maximum exposure to loss is a function of the fair value of the bond.  The difference between the taxable property loan’s carrying value and the maximum exposure is the value of loan loss reserves that have been previously recorded against the outstanding taxable property loan balances.
	The following tables present the effects of the consolidation of the Consolidated VIEs on the Company’s Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations.
	Condensed Consolidating Balance Sheets as of September 30, 2014 and December 31, 2013:
			Partnership as of September 30, 2014				Consolidated VIEs as of September 30, 2014				Consolidation -Elimination as of September 30, 2014				Total as of September 30, 2014
	Assets
	Cash and cash equivalents		$	64,462,931			$	48,745			$	—			$	64,511,676
	Restricted cash		10,405,986				702,019				—				11,108,005
	Interest receivable		5,846,747				—				(670,577		)		5,176,170
	Mortgage revenue bonds held in trust, at fair value		366,838,950				—				(15,898,239		)		350,940,711
	Mortgage revenue bonds, at fair value		53,848,411				—				—				53,848,411
	Public housing capital fund trusts, at fair value		60,537,086				—				—				60,537,086
	Mortgage-backed securities, at fair value		38,878,702				—				—				38,878,702
	Real estate assets:
	Land and improvements		9,246,792				1,836,400				—				11,083,192
	Buildings and improvements		110,347,211				21,131,794				—				131,479,005
	Real estate assets before accumulated depreciation		119,594,003				22,968,194				—				142,562,197
	Accumulated depreciation		(12,646,878		)		(10,416,221		)		—				(23,063,099		)
	Net real estate assets		106,947,125				12,551,973				—				119,499,098
	Other assets		42,146,347				322,924				(10,961,257		)		31,508,014
	Total Assets		$	749,912,285			$	13,625,661			$	(27,530,073	)		$	736,007,873
	Liabilities
	Accounts payable, accrued expenses and other liabilities		$	6,873,724			$	21,787,900			$	(21,260,285	)		$	7,401,339
	Distribution payable		7,607,692				—				—				7,607,692
	Debt financing		346,957,000				—				—				346,957,000
	Mortgages payable		72,585,842				14,776,000				(14,776,000		)		72,585,842
	Total Liabilities		434,024,258				36,563,900				(36,036,285		)		434,551,873
	Partners' Capital
	General Partner		491,349				—				—				491,349
	Beneficial Unit Certificate holders		315,411,626				—				6,443,554				321,855,180
	Unallocated deficit of Consolidated VIEs		—				(22,938,239		)		2,062,658				(20,875,581		)
	Total Partners' Capital		315,902,975				(22,938,239		)		8,506,212				301,470,948
	Noncontrolling interest		(14,948		)		—				—				(14,948		)
	Total Capital		315,888,027				(22,938,239		)		8,506,212				301,456,000
	Total Liabilities and Partners' Capital		$	749,912,285			$	13,625,661			$	(27,530,073	)		$	736,007,873
			Partnership as of December 31, 2013				Consolidated VIEs as of December 31, 2013				Consolidation -Elimination as of December 31, 2013				Total as of December 31, 2013
	Assets
	Cash and cash equivalents		$	11,292,039			$	25,976			$	—			$	11,318,015
	Restricted cash		6,344,666				500,877				—				6,845,543
	Interest receivable		5,281,398				—				(1,939,360		)		3,342,038
Mortgage revenue bonds held in trust, at fair value		230,885,864				—				(14,514,063		)		216,371,801
Mortgage revenue bonds, at fair value		68,946,370				—				—				68,946,370
Public housing capital fund trusts, at fair value		62,056,379				—				—				62,056,379
Mortgage-backed securities, at fair value		37,845,661				—				—				37,845,661
Real estate assets:
Land and improvements		9,245,592				1,836,400				—				11,081,992
Buildings and improvements		90,253,256				20,942,439				—				111,195,695
Real estate assets before accumulated depreciation		99,498,848				22,778,839				—				122,277,687
Accumulated depreciation		(9,386,811		)		(9,741,942		)		—				(19,128,753		)
Net real estate assets		90,112,037				13,036,897				—				103,148,934
Other assets		33,488,744				456,087				(9,586,540		)		24,358,291
Total Assets		$	546,253,158			$	14,019,837			$	(26,039,963	)		$	534,233,032
Liabilities
Accounts payable, accrued expenses and other liabilities		$	4,963,653			$	20,634,613			$	(20,147,572	)		$	5,450,694
Distribution payable		6,446,076				—				—				6,446,076
Debt financing		257,274,000				—				—				257,274,000
Mortgages payable		57,087,320				14,897,000				(14,897,000		)		57,087,320
Bond purchase commitment at fair value		4,852,177				—				—				4,852,177
Total Liabilities		330,623,226				35,531,613				(35,044,572		)		331,110,267
Partners' Capital
General Partner		16,671				—				—				16,671
Beneficial Unit Certificate holders		215,624,583				—				7,948,729				223,573,312
Unallocated deficit of Consolidated VIEs		—				(21,511,776		)		1,055,880				(20,455,896		)
Total Partners' Capital		215,641,254				(21,511,776		)		9,004,609				203,134,087
Noncontrolling interest		(11,322		)		—				—				(11,322		)
Total Capital		215,629,932				(21,511,776		)		9,004,609				203,122,765
Total Liabilities and Partners' Capital		$	546,253,158			$	14,019,837			$	(26,039,963	)		$	534,233,032
Condensed Consolidating Statements of Operations for the three and nine months ended Septebmer 30, 2014 and 2013:
	Partnership For the Three Months Ended September 30, 2014				Consolidated VIEs For the Three Months Ended September 30, 2014				Consolidation -Elimination For the Three Months Ended September 30, 2014				Total For the Three Months Ended September 30, 2014
Revenues:
Property revenues	$	3,675,140			$	799,411			$	—			$	4,474,551
Investment income	7,190,345				—				(232,022		)		6,958,323
Other interest income	222,074				—				—				222,074
Other income	188,000				—				—				188,000
Total revenues	11,275,559				799,411				(232,022		)		11,842,948
Expenses:
Real estate operating (exclusive of items shown below)	2,091,707				498,895				—				2,590,602
Provision for loan loss	75,000				—				—				75,000
Depreciation and amortization	1,595,360				240,410				(6,684		)		1,829,086
Interest	2,633,892				565,444				(565,444		)		2,633,892
General and administrative	1,409,688				—				—				1,409,688
Total expenses	7,805,647				1,304,749				(572,128		)		8,538,268
Net income (loss)	3,469,912				(505,338		)		340,106				3,304,680
Net loss attributable to noncontrolling interest	(3,149		)		—				—				(3,149		)
Net income (loss) - America First Multifamily Investors, L. P.	$	3,473,061			$	(505,338	)		$	340,106			$	3,307,829
	Partnership For the Three Months Ended September 30, 2013				Consolidated VIEs For the Three Months Ended September 30, 2013				Consolidation -Elimination For the Three Months Ended September 30, 2013				Total For the Three Months Ended September 30, 2013
Revenues:
Property revenues	$	3,074,115			$	1,225,261			$	—			$	4,299,376
Investment income	5,623,450				—				(375,642		)		5,247,808
Other interest income	216,993				—				—				216,993
Total revenues	8,914,558				1,225,261				(375,642		)		9,764,177
Expenses:
Real estate operating (exclusive of items shown below)	1,794,008				815,947				—				2,609,955
Provision for loan loss	72,000				—				—				72,000
Depreciation and amortization	1,409,847				363,137				(10,760		)		1,762,224
Interest	2,325,372				832,719				(832,719		)		2,325,372
General and administrative	985,778				—				—				985,778
Total expenses	6,587,005				2,011,803				(843,479		)		7,755,329
Income (loss) from continuing operations	2,327,553				(786,542		)		467,837				2,008,848
Income from discontinued operations (including gain on sale of MF Properties of $1,041,656)	1,342,498				—				—				1,342,498
Net income (loss)	3,670,051				(786,542		)		467,837				3,351,346
Net loss attributable to noncontrolling interest	(59,913		)		—				—				(59,913		)
Net income (loss) - America First Multifamily Investors, L. P.	$	3,729,964			$	(786,542	)		$	467,837			$	3,411,259
	Partnership For the Nine Months Ended September 30, 2014				Consolidated VIEs For the Nine Months Ended September 30, 2014				Consolidation -Elimination For the Nine Months Ended September 30, 2014				Total For the Nine Months Ended September 30, 2014
Revenues:
Property revenues	$	9,959,704			$	2,385,835			$	—			$	12,345,539
Mortgage revenue bond investment income	20,103,320				—				(697,964		)		19,405,356
Gain on mortgage revenue bonds - sale and redemption	3,684,898				—				—				3,684,898
Other interest income	672,974				—				—				672,974
Other income	188,000				—				—				188,000
Total revenues	34,608,896				2,385,835				(697,964		)		36,296,767
Expenses:
Real estate operating (exclusive of items shown below)	5,549,398				1,411,667				—				6,961,065
Provision for loan loss	75,000				—				—				75,000
Depreciation and amortization	4,271,539				715,995				(20,106		)		4,967,428
Interest	7,204,292				1,684,636				(1,684,636		)		7,204,292
General and administrative	4,079,493				—				—				4,079,493
Total expenses	21,179,722				3,812,298				(1,704,742		)		23,287,278
Net income (loss)	13,429,174				(1,426,463		)		1,006,778				13,009,489
Net loss attributable to noncontrolling interest	(3,626		)		—				—				(3,626		)
Net income (loss) - America First Multifamily Investors, L. P.	$	13,432,800			$	(1,426,463	)		$	1,006,778			$	13,013,115
	Partnership For the Nine Months Ended September 30, 2013				Consolidated VIEs For the Nine Months Ended September 30, 2013				Consolidation -Elimination For the Nine Months Ended September 30, 2013				Total For the Nine Months Ended September 30, 2013
Revenues:
Property revenues	$	8,325,593			$	3,658,636			$	—			$	11,984,229
Investment income	18,689,649				—				(1,130,027		)		17,559,622
Contingent interest income	6,497,160				—				—				6,497,160
Other interest income	1,558,158				—				—				1,558,158
Other income	250,000				—				—				250,000
Total revenues	35,320,560				3,658,636				(1,130,027		)		37,849,169
Expenses:
Real estate operating (exclusive of items shown below)	4,632,958				2,349,358				—				6,982,316
Realized loss on taxable property loan	4,557,741				—				—				4,557,741
Provision for loan loss	168,000				—				—				168,000
Provision for loss on receivables	241,698				—				—				241,698
Depreciation and amortization	3,963,628				1,073,423				(32,369		)		5,004,682
Interest	5,287,994				2,477,348				(2,477,348		)		5,287,994
General and administrative	3,097,713				—				—				3,097,713
Total expenses	21,949,732				5,900,129				(2,509,717		)		25,340,144
Income (loss) from continuing operations	13,370,828				(2,241,493		)		1,379,690				12,509,025
Income from discontinued operations (including gain on sale of MF Properties of $3,177,183)	3,442,404				—				—				3,442,404
Net income (loss)	16,813,232				(2,241,493		)		1,379,690				15,951,429
Net income attributable to noncontrolling interest	263,584				—				—				263,584
Net income (loss) - America First Multifamily Investors, L. P.	$	16,549,648			$	(2,241,493	)		$	1,379,690			$	15,687,845

Investments_in_Mortgage_Revenu

Investments in Mortgage Revenue Bonds	9 Months Ended
	Sep. 30, 2014
Investments in Mortgage Revenue Bonds [Abstract]	'
Investments in Debt and Equity Instruments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses) [Text Block]	'
	Investments in Mortgage Revenue Bonds
	The mortgage revenue bonds owned by the Company have been issued to provide construction and/or permanent financing of multifamily residential properties and do not include the mortgage revenue bonds issued with respect to properties owned by Consolidated VIEs at September 30, 2014 and December 31, 2013. Mortgage revenue bonds are either held directly by the Company or are held in trusts created in connection with debt financing transactions (Note 10). The Company had the following investments in mortgage revenue bonds as of dates shown:
			September 30, 2014
	Description of Mortgage Revenue Bonds		Cost adjusted for pay-downs		Unrealized Gain			Unrealized Loss		Estimated Fair Value
	Arbors at Hickory Ridge (3)		11,572,252		1,530,105			—		13,102,357
	Ashley Square (1)		5,174,000		409,142			—		5,583,142
	Avistar at Chase Hill A Bond (3)		10,000,000		858,300			—		10,858,300
	Avistar at the Crest A Bond (3)		9,700,000		1,079,610			—		10,779,610
	Avistar at the Oaks A Bond (3)		7,800,000		416,832			—		8,216,832
	Avistar in 09 A Bond (3)		6,735,000		359,918			—		7,094,918
	Avistar on the Boulevard A Bond (3)		16,525,000		2,128,585			—		18,653,585
	Avistar on the Hills A Bond (3)		5,389,000		555,498			—		5,944,498
	Bella Vista (1)		6,490,000		425,095			—		6,915,095
	Bridle Ridge (1)		7,655,000		431,130			—		8,086,130
	Brookstone (1)		7,468,080		1,178,235			—		8,646,315
	Bruton Apartments (2)		18,145,000		1,150,756			—		19,295,756
	Copper Gate Apartments (3)		5,220,000		398,704			—		5,618,704
	Cross Creek (1)		6,067,212		2,279,884			—		8,347,096
	Decatur Angle (2)		23,000,000		543,260			—		23,543,260
	Greens Property A Bond (3)		8,384,000		794,798			—		9,178,798
	Harden Ranch A Bond (3)		6,960,000		364,286			—		7,324,286
	Lake Forest (1)		8,916,000		921,670			—		9,837,670
	Live 929 Apartments (2)		40,904,962		4,502,682			—		45,407,644
	Ohio Properties A Bonds (1)		14,431,000		1,759,179			—		16,190,179
	Runnymede (1)		10,485,000		1,064,647			—		11,549,647
	Southpark (1)		11,937,626		2,963,871			—		14,901,497
	The Palms at Premier Park Apartments (3)		20,152,000		2,339,849			—		22,491,849
	The Suites on Paseo (2)		35,750,000		2,656,940			—		38,406,940
	Tyler Park Apartments A Bond (3)		6,075,000		218,457			—		6,293,457
	Westside Village Market A Bond (3)		3,970,000		142,761			—		4,112,761
	Woodlynn Village (1)		4,408,000		152,385			—		4,560,385
	Mortgage revenue bonds held in trust		319,314,132		31,626,579			—		350,940,711
			30-Sep-14
	Description of Mortgage Revenue Bonds		Cost adjusted for pay-downs			Unrealized Gain			Unrealized Loss			Estimated Fair Value
	Avistar at Chase Hill B Bond		$	965,000		$	70,995		$	—		$	1,035,995
	Avistar at the Crest B Bond		759,000			103,960			—			862,960
	Avistar at the Oaks B Bond		554,000			18,132			—			572,132
	Avistar in 09 B Bond		457,000			14,958			—			471,958
	Avistar on the Boulevard B Bond		451,000			55,820			—			506,820
	Greens Property B Bond		946,201			351,919			—			1,298,120
	Harden Ranch B Bond		2,340,000			—			(11,095		)	2,328,905
	Heritage Square		11,705,000			105,910			—			11,810,910
	Ohio Properties B Bonds		3,576,060			524,130			—			4,100,190
	Renaissance		12,675,000			924,570			—			13,599,570
	Tyler Park B Bond		2,025,000			—			(26,487		)	1,998,513
	Vantage at Harlingen		6,692,000			540,647			—			7,232,647
	Vantage at Judson		6,049,000			561,831			—			6,610,831
	Westside Village Market B Bond		1,430,000			—			(11,140		)	1,418,860
	Mortgage revenue bonds		$	50,624,261		$	3,272,872		$	(48,722	)	$	53,848,411
	(1) Bonds owned by ATAX TEBS I, LLC, Note 10
	(2) Bond held by Deutsche Bank in a secured financing transaction, Note 10
	(3) Bonds owned by ATAX TEBS II, LLC, Note 10
			31-Dec-13
	Description of Mortgage Revenue Bonds		Cost adjusted for pay-downs			Unrealized Gains			Unrealized Loss			Estimated Fair Value
	Arbors at Hickory Ridge (2)		$	11,576,209		$	225,690		$	—		$	11,801,899
	Ashley Square (1)		5,212,000			—			—			5,212,000
	Autumn Pines (2)		12,147,873			—			(195,355		)	11,952,518
	Avistar at Chase Hill A Bond (2)		8,960,000			—			(850,752		)	8,109,248
	Avistar at the Crest A Bond (2)		8,759,000			—			(1,298,785		)	7,460,215
	Avistar at the Oaks (2)		8,354,000			—			(1,103,115		)	7,250,885
	Avistar in 09 (2)		7,192,000			—			(588,254		)	6,603,746
	Avistar on the Boulevard A Bond (2)		13,760,000			—			(1,306,512		)	12,453,488
	Avistar on the Hills (2)		5,389,000			—			(417,724		)	4,971,276
Bella Vista (1)		6,545,000			—			(473,989		)	6,071,011
Bridle Ridge (1)		7,715,000			—			(452,870		)	7,262,130
Brookstone (1)		7,463,641			841,751			—			8,305,392
Cross Creek (1)		6,042,297			1,480,266			—			7,522,563
Greens Property A Bond (2)		8,437,501			—			(577,426		)	7,860,075
Lake Forest (1)		8,997,000			—			(289,461		)	8,707,539
Lost Creek (1)		15,883,084			1,743,088			—			17,626,172
Ohio Properties A Bonds (1)		14,498,000			—			—			14,498,000
Runnymede (1)		10,525,000			—			(551,510		)	9,973,490
Southpark (1)		11,878,885			1,018,750			—			12,897,635
The Suites on Paseo (2)		35,750,000			—			(2,502		)	35,747,498
Woodlynn Village (1)		4,426,000			—			(340,979		)	4,085,021
Mortgage revenue bonds held in trust		$	219,511,490		$	5,309,545		$	(8,449,234	)	$	216,371,801
		31-Dec-13
Description of Mortgage Revenue Bonds		Cost adjusted for pay-downs			Unrealized Gain			Unrealized Loss			Estimated Fair Value
Avistar at Chase Hill B Bond		$	2,005,000		$	—		$	(159,117	)	$	1,845,883
Avistar at the Crest B Bond		1,700,000			—			(134,912		)	1,565,088
Avistar on the Boulevard B Bond		3,216,000			—			(255,222		)	2,960,778
Copper Gate Apartments		5,220,000			—			(252,648		)	4,967,352
Greens Property B Bond		948,291			189,589			—			1,137,880
Ohio Properties B Bonds		3,583,590			150,864			—			3,734,454
Renaissance		7,975,000			—			(16,964		)	7,958,036
The Palms at Premier Park Apartments		20,152,000			—			(283,942		)	19,868,058
Tyler Park Apartments		8,100,000			—			(526,601		)	7,573,399
Vantage at Harlingen		6,692,000			—			(211,735		)	6,480,265
Vantage at Judson		6,049,000			—			(190,423		)	5,858,577
Westside Village		5,400,000			—			(403,400		)	4,996,600
Mortgage revenue bonds		$	71,040,881		$	340,453		$	(2,434,964	)	$	68,946,370
(1) Mortgage revenue bonds owned by ATAX TEBS I, LLC, Note 10
(2) Mortgage revenue bonds held by Deutsche Bank in a secured financing transaction, Note 10
In August 2014, the Company acquired at par an approximate $11.2 million par value Series 2014A mortgage revenue bond with a stated interest rate of 6.0%, which will mature on September 1, 2051. In addition, the Company purchased a $520,000 par value Subordinate Series 2014B mortgage revenue bond with a stated interest rate of 12.0% which will mature on October 1, 2051. These mortgage revenue bonds are secured by Heritage Square, a 204 unit multifamily apartment complex in Edinburg, Texas.
In August 2014, the Company acquired at par the approximate $18.1 million mortgage revenue bond secured by Bruton Apartments, a 264 unit multifamily apartment complex under construction in Dallas, Texas. The mortgage revenue bond carries an annual interest rate of 6.0% and matures on August 1, 2054.
In June 2014, the Partnership committed to the purchase of an approximate $40.3 million par value mortgage revenue bond secured by the Live 929 Apartments, with a 5.8% annual stated interest rate which will mature on July 1, 2049. The project is a 572-bed existing student housing project on the campus of The Johns Hopkins University School of Medicine in Baltimore, Maryland. In July 2014, this investment closed upon the execution of a $35.0 million tender option bond (“TOB”) Trust under the existing TOB structure (Note 10) plus approximately $5.3 million in cash. The Company has determined that the entity which owns this property is an unrelated not-for-profit which under the accounting guidance is not subject to applying the VIE consolidation guidance. As a result, the properties’ financial statements are not consolidated into the consolidated financial statements of the Company.
In April 2014, the mortgage revenue bond secured by Autumn Pines was sold for the outstanding principal and accrued base interest. The Company received approximately $13.1 million for the Autumn Pines mortgage revenue bond and recognized a gain of approximately $873,000 after payment of all TOB related financing fees. This gain is Tier 2 income with approximately $650,000 allocated to the unitholders. This mortgage revenue bond had been acquired at a discount on June 1, 2011. The Company’s $9.8 million TOB financing facility which was the securitization of this mortgage revenue bond was collapsed and paid off in full in connection with this sale.
In February 2014, the Partnership acquired at par the senior $7.0 million par value and a subordinate $2.3 million par value mortgage revenue bond secured by Harden Ranch, a 100 unit multifamily apartment complex in Salinas, California. The senior mortgage revenue bond carries an annual interest rate of 5.8% and matures on March 1, 2030. The subordinate mortgage revenue bond carries an annual interest rate of 5.5% for the first year and 8.0% for the second year and matures on March 1, 2016.
In February 2014, the Company acquired at par the senior $23.0 million par value mortgage revenue bond secured by Decatur-Angle Apartments, a 302 unit multifamily apartment complex under construction in Fort Worth, Texas. The mortgage revenue bond carries an annual interest rate of 5.8% and matures on January 1, 2054.
In February 2014, the mortgage revenue bond secured by Lost Creek was redeemed for an amount greater than the outstanding principal and accrued base interest. This $18.5 million par value mortgage revenue bond had been acquired for approximately $15.9 million in May 2010. The Company received approximately $18.7 million for the Lost Creek mortgage revenue bond resulting in an approximate $2.8 million realized gain. This gain was Tier 2 income with 25% allocated to the General Partner.
In December 2013, the Partnership acquired seven mortgage revenue bonds. They are as follows:
•	The Partnership purchased an approximate $5.2 million par value Series A mortgage revenue bond with a stated interest rate of 6.25% per annum secured by Copper Gate Apartments, a 128 unit multifamily complex in Lafayette, Indiana, maturing on December 1, 2029.
•	The Partnership purchased an approximate $6.1 million par value senior and an approximate $2.0 million par value subordinate mortgage revenue bonds with stated interest rates of 5.75% and 5.5% per annum, respectively. These mortgage revenue bonds are secured by Tyler Park Townhomes, an 88 unit multifamily complex in Greenfield, California. The senior mortgage revenue bond matures on January 1, 2030 and the subordinate mortgage revenue bond matures on January 1, 2016.
•	The Partnership purchased an approximate $4.0 million par value senior and an approximate $1.4 million par value subordinate mortgage revenue bonds with stated interest rates of 5.75% and 5.5% per annum, respectively. These mortgage revenue bonds are secured by Westside Village, an 81 unit multifamily complex in Shafter, California. The senior mortgage revenue bond matures on January 1, 2030 and the subordinate mortgage revenue bond matures on January 1, 2016.
•	The Partnership purchased an approximate $20.2 million par value Series A mortgage revenue bond with a stated interest rate of 6.25% per annum secured by The Palms at Premier Park Apartments, a 240 unit multifamily complex in Columbia, South Carolina. This mortgage revenue bond matures on January 1, 2050.
•	The Partnership purchased an approximate $35.8 million par value Series A mortgage revenue bond with a stated interest rate of 6.25% per annum secured by The Suites on Paseo, a 384 bed student housing project in San Diego, California. This mortgage revenue bond matures on December 1, 2048.
Effective December 1, 2013, the ownership of Lake Forest became a not-for-profit entity, a reconsideration event, and Lake Forest ceased to be reported as a Consolidated VIE. As such, the Partnership is reporting the estimated fair value of the Lake Forest mortgage revenue bond as an investment asset for the first time in 2013.
In August 2013, the Partnership acquired a mortgage revenue bond secured by the Vantage at Harlingen Apartments, a 288 unit multifamily apartment complex located in Harlingen, Texas which is under construction. The Series C bond was purchased for approximately $6.7 million par value, carries a base interest rate of 9.0% per annum, and matures on August 1, 2053. The Partnership also acquired a $1.3 million subordinate taxable bond which is recorded as an Other Asset. The Vantage at Harlingen Apartments has a construction loan with an unrelated bank and the Partnership’s mortgage revenue bonds are second lien borrowings to that construction loan.
Under the terms of a Forward Delivery Bond Purchase Agreement (“Bond Purchase Commitment”), the Partnership has agreed to purchase a new mortgage revenue bond between $18,000,000 and $24,692,000 (“Harlingen Series B Bond”) secured by the Vantage at Harlingen apartments which will be delivered by the mortgage revenue bond issuer once the property meets specific obligations and occupancy rates. The final amount of the Series B Bond will depend on the appraisal of the stabilized property. The Harlingen Series B Bond will have a stated annual interest rate of 6.0% per annum and bond proceeds must be used to pay off the construction loan to the bank and all or a portion of the $6.7 million subordinate Series C mortgage revenue bond. The Partnership accounts for the Bond Purchase Commitment as an available-for-sale security and, as such, records the change in the estimated fair value of the Bond Purchase Commitment as an asset or liability with changes in such valuation recorded in other comprehensive income.  As of September 30, 2014, the Partnership estimated the value of this Bond Purchase Commitment and recorded in other assets an asset of approximately $839,000.
In July 2013, the limited partner property owner contributed an approximate additional $800,000 of capital into the Greens Property which allowed the Company to recognize a sale of the discontinued operations (Note 9). As such, the Partnership reported the approximate $10.2 million and $9.1 million fair value of the mortgage revenue bonds related to the Greens Property as assets as of September 30, 2014 and December 31, 2013, respectively.
In June 2013, the Partnership redeemed its interest in the Iona Lakes mortgage revenue bond for approximately $21.9 million. This redemption resulted in the realization of approximately $6.5 million in contingent interest income and approximately $4.6 million realized loss on a taxable property loan. The trust indenture for this bond had a waterfall feature which stipulated that all unpaid contingent interest must be paid prior to making payment on any taxable loan between the owner of the bond and the property.
The Partnership, as sole bondholder, previously directed the bond trustee to file a foreclosure action on the Woodland Park mortgage revenue bond. On February 28, 2013, the court granted Summary Judgment in the bond trustee’s favor confirming that the mortgage revenue bond is senior to mechanic’s liens filed on the property. Woodland Park became an MF Property upon title conveyance which occurred on May 29, 2013 (Note 7). The Partnership requested the mortgage revenue bond issuer to remove the Land Use Restriction Agreement (“LURA”) on the property and the units have been converted to 100% market-rate rents. The Partnership may convert the property back to a rent restricted property, seek to place new financing on the property, and acquire the mortgage revenue bonds.
In June 2013, the Partnership acquired six mortgage revenue bonds secured by three properties located in San Antonio, Texas. On June 30, 2014 the Company finalized the restructuring of these six mortgage revenue bonds moving approximately $5.5 million in Series B mortgage revenue bonds to Series A mortgage revenue bonds. The par bond values reported on September 30, 2014 are as follows: approximately $7.8 million par value Series A and approximately $0.6 million par value Series B mortgage revenue bonds secured by the Avistar at the Oaks Apartments, a 156 unit multifamily apartment complex; approximately $5.4 million Series A mortgage revenue bonds secured by the Avistar on the Hills Apartments, a 129 unit multifamily apartment complex; and approximately $6.7 million Series A and approximately $0.5 million Series B mortgage revenue bonds secured by Avistar in 09 Apartments, a 133 unit multifamily apartment complex. The three Series A mortgage revenue bonds each carry an annual interest rate of 6.0% per annum and mature on August 1, 2050. The three Series B mortgage revenue bonds each carry an annual base interest rate of 9.0% per annum and mature on September 1, 2050. The Partnership also acquired approximately $831,000 of taxable mortgage revenue bonds which also carry a base interest rate of 9.0% per annum and mature on September 1, 2050. In connection with the mortgage revenue bond restructuring the Company loaned these entities approximately $526,000 to cover the costs of restructuring the mortgage revenue bonds (Note 8).
In April 2013, the Partnership acquired the Series C mortgage revenue bond secured by the Renaissance Gateway Apartments, a 208 unit multifamily apartment complex located in New Orleans, Louisiana for approximately $2.9 million par value. This property is undergoing a major rehabilitation and the Partnership has agreed to fund a total of approximately $8.6 million of a Series A mortgage revenue bond during construction which is estimated to be completed in August 2014. During the third and fourth quarter of 2013, the Partnership purchased $1.3 million par value Series B and $3.9 million par value Series A mortgage revenue bonds. During the first nine months of 2014, the Partnership purchased the remaining approximate $4.7 million par value Series A mortgage revenue bond. The Series C mortgage revenue bond carries a base interest rate of 12.0% per annum and matures on June 1, 2015. The Series A and Series B mortgage revenue bonds carry a base interest rate of 6.0% and 12.0% per annum, respectively, maturing on June 1, 2030. Upon completion of construction and stabilization, the approximate $2.9 million Series C bond will be paid back on the earlier of when the property receives its final equity contribution by the limited partner or June 1, 2015. The Partnership accounts for the remaining Bond Purchase Commitment as an available-for-sale security and, as such, records the change in estimated fair value of the Bond Purchase Commitment as an asset or liability with changes in such valuation recorded in other comprehensive income.
In February 2013, the Partnership acquired six mortgage revenue bonds secured by three properties located in San Antonio, Texas. On June 30, 2014 the Company finalized the restructuring of six mortgage revenue bonds moving approximately $4.7 million in Series B mortgage revenue bonds to Series A mortgage revenue bonds. The par bond values reported on September 30, 2014 are as follows: approximately $16.5 million par value Series A and approximately $0.5 million par value Series B mortgage revenue bonds secured by the Avistar on the Boulevard, a 344 unit multifamily apartment complex; approximately $10.0 million Series A and approximately $1.0 million Series B mortgage revenue bonds secured by the Avistar at Chase Hill, a 232 unit multifamily apartment complex; and approximately $9.7 million Series A and approximately $0.8 million Series B mortgage revenue bonds secured by Avistar at the Crest, a 200 unit multifamily apartment complex. The three Series A mortgage revenue bonds each carry an annual interest rate of 6.0% per annum and mature on March 1, 2050. The three Series B mortgage revenue bonds each carry an annual base interest rate of 9.0% per annum and mature on April 1, 2050. The Partnership also acquired approximately $804,000 of taxable mortgage revenue bonds which also carry a base interest rate of 9.0% per annum and mature on April 1, 2050. The Company has determined that the entity which owns the three Avistar properties is an unrelated not-for-profit which under the accounting guidance is not subject to applying the VIE consolidation guidance. As a result, the properties’ financial statements are not consolidated into the consolidated financial statements of the Company.
In December 2012, under the terms of a Bond Purchase Commitment, the Partnership has agreed to purchase a new mortgage revenue bond of between $20,638,000 and $26,687,000 (“Judson Series B Bond”) secured by the Vantage at Judson apartments which will be delivered by the mortgage revenue bond issuer once the property meets specific obligations and occupancy rates. The final amount of the Series B Bond will depend on the appraisal of the stabilized property. The Judson Series B Bond will have a stated annual interest rate of 6.0% per annum and bond proceeds must be used to pay off the construction loan to the Bank and all or a portion of the $6,049,000 subordinate mortgage revenue bond. If the property does not meet its specific obligations and required occupancy rate before January 1, 2015, the Partnership has the right to terminate the Bond Purchase Commitment. As of September 30, 2014, the Partnership estimated the value of this Bond Purchase Commitment and recorded an asset of approximately $1,295,000.
Valuation - As all of the Company’s investments in mortgage revenue bonds are classified as available-for-sale securities, they are carried on the balance sheet at their estimated fair values.  Due to the limited market for the mortgage revenue bonds, these estimates of fair value do not necessarily represent what the Company would actually receive in a sale of the mortgage revenue bonds.  There is no active trading market for the mortgage revenue bonds and price quotes for the mortgage revenue bonds are not generally available.  As of September 30, 2014, all of the Company’s mortgage revenue bonds were valued using discounted cash flow and yield to maturity analyses performed by management.  Management’s valuation encompasses judgment in its application.  The key assumption in management’s yield to maturity analysis is the range of effective yields on the individual mortgage revenue bonds.  The effective yield analysis for each mortgage revenue bond considers the current market yield on similar mortgage revenue bonds as well as the debt service coverage ratio of each underlying property serving as collateral for the mortgage revenue bond. At September 30, 2014, the range of effective yields on the individual mortgage revenue bonds was 5.2% to 8.7% per annum.  At December 31, 2013, the range of effective yields on the individual mortgage revenue bonds was 6.3% to 9.8% per annum. Additionally, the Company calculated the sensitivity of the key assumption used in calculating the fair values of these mortgage revenue bonds.  Assuming a 10% adverse change in the key assumption, the effective yields on the individual mortgage revenue bonds would increase to a range of 5.5% to 9.6% per annum and would result in additional unrealized losses on the mortgage revenue bond portfolio of approximately $28.9 million.  This sensitivity analysis is hypothetical and is as of a specific point in time.  The results of the sensitivity analysis may not be indicative of actual changes in fair value and should be used with caution.  If available, the general partner may also consider price quotes on similar mortgage revenue bonds or other information from external sources, such as pricing services.  Pricing services, broker quotes and management’s analyses provide indicative pricing only.
Unrealized gains or losses on these mortgage revenue bonds are recorded in accumulated other comprehensive income (loss) 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 underlying properties. As of September 30, 2014, there were no mortgage revenue bond investments which had been in an unrealized loss position for greater than twelve months.

Public_Housing_Capital_Fund_Tr

Public Housing Capital Fund Trusts	9 Months Ended
	Sep. 30, 2014
Public Housing Capital Fund Trusts [Abstract]	'
Investments in Debt and Equity Investments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses), Public Housing Capital Funds Trust [Text Block]	'
	Public Housing Capital Fund Trust Certificates
	The Company owns 100% of the residual participation receipts (“LIFERs”) in three tender option bond trusts (“PHC TOB Trusts”). At September 30, 2014, the PHC TOB Trusts own approximately $59.3 million of Public Housing Capital Fund Certificates (“PHC Certificates”) issued by three trusts (“PHC Trusts”) sponsored by Deutsche Bank (“DB”). The assets held by the PHC Trusts consist of custodial receipts evidencing loans made to a number of local public housing authorities. Principal and interest on these loans are payable by the respective public housing authorities out of annual appropriations to be made to the public housing authorities by the United States Department of Housing and Urban Development (“HUD”) under HUD’s Capital Fund Program established under the Quality Housing and Work Responsibility Act of 1998 (the “Capital Fund Program”). The PHC Trusts have a first lien on these annual Capital Fund Program payments to secure the public housing authorities’ respective obligations to pay principal and interest on their loans. The loans payable by the public housing authorities are not debts of, or guaranteed by, the United States of America or HUD. Interest payable on the public housing authority debt held by the PHC Trusts is exempt from federal income taxes. The PHC Certificates issued by each of the PHC Trusts have been rated investment grade by Standard & Poor’s.
	The Company determined that the three PHC TOB trusts are variable interest entities and that the Company was the primary beneficiary of each of the three PHC TOB trusts. As a result, the Company reports the PHC TOB Trusts on a consolidated basis and the senior floating-rate participation interest (“SPEARS”) as debt financing. In determining the primary beneficiary of these specific VIEs, the Company considered who has the power to control the activities of the VIEs which most significantly impact their financial performance, the risks that the entity was designed to create, and how each risk affects the VIE. The indenture for the PHC TOB trusts stipulates that the Company has the sole right to cause the PHC TOB trusts to sell the PHC Certificates. If they were sold, the extent to which the VIEs will be exposed to gains or losses would result from decisions made by the Company.
	The Company had the following investments in the PHC Certificates on September 30, 2014:
	Description of Public Housing Capital Fund Trust Certificates	Cost adjusted for amortization of premium and discounts			Unrealized Gain			Unrealized Loss			Estimated Fair Value
	Public Housing Capital Fund Trust I	$	27,449,012		$	590,745		$	—		$	28,039,757
	Public Housing Capital Fund Trust II	11,988,272			9,994			—			11,998,266
	Public Housing Capital Fund Trust III	20,464,287			34,776			—			20,499,063
		$	59,901,571		$	635,515		$	—		$	60,537,086
	The Company had the following investments in the PHC Certificates on December 31, 2013:
	Description of Public Housing Capital Fund Trust Certificates	Cost adjusted for amortization of premium and discounts			Unrealized Gain			Unrealized Loss			Estimated Fair Value
	Public Housing Capital Fund Trust Certificate I	$	27,979,527		$	—		$	(1,284,873	)	$	26,694,654
	Public Housing Capital Fund Trust Certificate II	17,486,739			—			(1,083,235		)	16,403,504
	Public Housing Capital Fund Trust Certificate III	20,434,848			—			(1,476,627		)	18,958,221
		$	65,901,114		$	—		$	(3,844,735	)	$	62,056,379
	During the nine months ended September 30, 2014 the Partnership realized approximately $6.0 million of paydown related to the Public Housing Capital Fund Trust Certificates.
	Valuation - As all of the Company’s investments in PHC Certificates are classified as available-for-sale securities, they are carried on the balance sheet at their estimated fair values.  Due to the limited market for the PHC Certificates, these estimates of fair value do not necessarily represent what the Company would actually receive in a sale of the certificates.  The estimates of the fair values of these PHC certificates is based on a yield to maturity analysis which begins with the current market yield rate for a “AAA” rated tax-free municipal bond for a term consistent with the weighted-average life of each of the Public Housing Capital Fund trusts adjusted largely for unobservable inputs the General Partner believes would be used by market participants. Management’s fair value estimates encompass judgment. Management’s estimates are compared to external pricing services when available.   The PHC Certificates are AA-, A+, and BBB rated as of September 30, 2014.
	At September 30, 2014 and December 31, 2013 the range of effective yields on the PHC Certificates was 4.2% to 5.4% per annum.  Additionally, the Company calculated the sensitivity of the key assumption used in calculating the fair values of these PHC Certificates.  Assuming a 10% adverse change in the key assumption, the effective yields on the PHC Certificates would increase to a range of 4.8% to 6.2% per annum and would result in additional unrealized losses on the PHC Certificates of approximately $2.3 million.  This sensitivity analysis is hypothetical and is as of a specific point in time.  The results of the sensitivity analysis may not be indicative of actual changes in fair value and should be used with caution.  If available, the general partner may also consider other information from external sources, such as pricing services.  Pricing services and management’s analysis provide indicative pricing only.
	The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts on September 30, 2014:
		Average Remaining Lives (Years)		Investment Rating	Weighted Average Interest Rate over Life		Principal Outstanding
	Public Housing Capital Fund Trust Certificate I	10.5		AA-	5.33	%	$	25,980,780
	Public Housing Capital Fund Trust Certificate II	9.97		A+	4.24	%	12,429,186
	Public Housing Capital Fund Trust Certificate III	11.06		BBB	5.41	%	20,898,432
	Total Public Housing Capital Fund Trust Certificates						$	59,308,398
	The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts on December 31, 2013:
		Average Remaining Lives (Years)		Investment Rating	Weighted Average Interest Rate over Life		Principal Outstanding
	Public Housing Capital Fund Trust Certificate I	12.75		AA-	5.33	%	$	26,406,558
	Public Housing Capital Fund Trust Certificate II	12.3		AA-	4.24	%	17,959,713
	Public Housing Capital Fund Trust Certificate III	13.3		BBB	5.41	%	20,898,432
	Total Public Housing Capital Fund Trust Certificates						$	65,264,703

MortgageBacked_Securities

Mortgage-Backed Securities	9 Months Ended
	Sep. 30, 2014
Mortgage-Backed Securities [Abstract]	'
Investments in Debt and Equity Investments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses), Mortgage Backed Securities [Text Block]	'
	Mortgage-Backed Securities (“MBS”)
	Between November 2012 and April 2013, the Company executed six securitizations of mortgage-backed securities (“MBS TOB Trusts”). The Company purchased the LIFERS issued by the six MBS TOB Trusts for approximately $9.2 million.
	Each of the six MBS TOB Trusts issued SPEARS to unaffiliated investors; these SPEARS totaled approximately $34.9 million at issuance. The SPEARS represent senior interests in the MBS TOB Trusts and have been credit enhanced by DB. The LIFERS entitle the Company to all principal and interest payments received by the MBS TOB Trust on the securitized MBS after payments due to the holders of the SPEARs and trust costs. The SPEARS bear interest at a variable rate based on Securities Industry and Financial Markets Association (“SIFMA”) index.
	The Company determined that the six MBS TOB Trusts are variable interest entities and that the Company was the primary beneficiary of each of them. As a result, the Company reports the MBS TOB Trusts on a consolidated basis and the SPEARS as debt financing. In determining the primary beneficiary of these specific VIEs, the Company considered who has the power to control the activities of the VIEs which most significantly impact their financial performance, the risks that the entity was designed to create, and how each risk affects the VIE. The indenture for the MBS TOB Trusts stipulates that the Company has the sole right to cause the MBS TOB Trusts to sell the MBS. If they were sold, the extent to which the MBS TOB Trusts will be exposed to gains or losses would result from decisions made by the Company.
	In May 2014, the Company sold a portion of the MBS TOB Trusts for an amount approximating the outstanding amortized cost. This approximately $3.7 million par value MBS had been acquired for approximately $3.8 million in November 2012.
	In October 2014, the Company sold another large portion of the MBS TOB Trusts for an amount approximating the outstanding amortized cost (Note 18).
	The carrying value of the Company’s MBS as of September 30, 2014 is as follows:
	Agency Rating of MBS (1)	Cost adjusted for amortization of premium		Unrealized Gain				Unrealized Loss			Estimated Fair Value
	“AAA”	$	23,159,665	$	—			$	(668,960	)	$	22,490,705
	“AA”	16,847,868		—				(459,871		)	16,387,997
		$	40,007,533	$	—			$	(1,128,831	)	$	38,878,702
	(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.
	The carrying value of the Company’s MBS as of December 31, 2013 is as follows:
	Agency Rating of MBS (1)	Cost adjusted for amortization of premium		Unrealized Gain				Unrealized Loss			Estimated Fair Value
	“AAA”	$	23,177,115	$	—			$	(3,069,555	)	$	20,107,560
	“AA”	20,624,701		—				(2,886,600		)	17,738,101
		$	43,801,816	$	—			$	(5,956,155	)	$	37,845,661
	(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.
	Valuation - The Company values each MBS based upon prices obtained from a third party pricing service, which are indicative of market activity. The valuation methodology of the Company’s third party pricing service incorporates commonly used market pricing methods, incorporates trading activity observed in the market place, and other data inputs. The methodology also considers the underlying characteristics of each security, which are also observable inputs, including: coupon; maturity date; loan age; reset date; collateral type; geography; and prepayment speeds. Management analyzes pricing data received from the third party pricing service by comparing it to valuation information obtained from at least one other third party pricing service and ensuring they are within a tolerable range of difference which the Company estimates as 7.5%. Management also looks at observations of trading activity observed in the market place when available. At September 30, 2014, the range of effective yields on the individual MBS was 3.7% to 4.8% per annum. At December 31, 2013, the range of effective yields on the individual MBS was 3.6% to 4.8% per annum. Additionally, the Company calculated the sensitivity of the key assumption used in calculating the fair values of the MBS which is the effective yield on new issuances of similarly rated MBS.  Assuming a 10% adverse change in that key assumption, the effective yields on the MBS would increase to a range of 3.9% to 5.2% per annum and would result in additional unrealized losses on the bond portfolio of approximately $1.9 million.  This sensitivity analysis is hypothetical and is as of a specific point in time.  The results of the sensitivity analysis may not be indicative of actual changes in fair value and should be used with caution.  Pricing services and management’s analysis provide indicative pricing only. The MBS have been in an unrealized loss position for more than twelve months and the Company does not believe the investment is other than temporarily impaired as of September 30, 2014 as it has the intent and ability to hold these investments until their estimated fair value recovers to the carrying cost or until final maturity.
	The MBS are backed by residential mortgage loans and interest payable from the MBS is exempt from federal income taxation. Description of certain terms of the Company’s MBS is as follows:
	Agency Rating of MBS	Principal Outstanding September 30, 2014		Weighted Average Maturity Date		Weighted Average Coupon Interest Rate
	“AAA”	$	22,710,000	October 7, 2036		4.05	%
	“AA”	16,440,000		January 30, 2038		4.11	%
		$	39,150,000

Real_Estate_Assets

Real Estate Assets	9 Months Ended
	Sep. 30, 2014
Real Estate Assets [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	Real Estate Assets
	MF Properties
	To facilitate its investment strategy of acquiring additional mortgage revenue bonds secured by MF Properties, the Company has acquired through its various subsidiaries 99% limited partner positions in three limited partnerships and 100% member positions in six limited liability companies that own the MF Properties. The financial statements of these properties are consolidated with those of the Company.  The general partners of these partnerships are unaffiliated parties and their 1% ownership interest in these limited partnerships is reflected in the Company’s consolidated financial statements as noncontrolling interests. The Company expects each of these MF Properties to eventually be sold either to a not-for-profit entity or in connection with a syndication of LIHTCs. The Company expects to purchase mortgage revenue bonds issued by the new property owners as part of the restructuring.
	Recent Transactions
	The Partnership, as sole bondholder, previously directed the bond trustee to file a foreclosure action on the Woodland Park mortgage revenue bond. On February 28, 2013, the court granted Summary Judgment in the bond trustee’s favor confirming that the mortgage revenue bond is senior to mechanic’s liens filed on the property. Woodland Park became an MF Property at a net asset value of approximately $15.7 million upon conveyance of title on May 29, 2013. The Partnership requested the mortgage revenue bond issuer to remove the LURA on the property and the units have been converted to 100% market-rate rents. The Partnership may convert the property back to a rent restricted property, seek to place new financing on the property, and acquire the mortgage revenue bonds.
	In March 2013, a wholly-owned subsidiary of the Company executed a 35-year ground lease with the University of Nebraska - Lincoln (“Lessor”) with an annual lease payment of $100. The leased property has a mixed-use development consisting of a 1,605 stall parking garage and 475 bed student housing complex constructed on it. The Lessor will own the parking garage for which it will contribute approximately $16.7 million to its construction. The Company owns the student housing complex (named “The 50/50”) which was fully constructed by August 1, 2014 for an approximate $33.8 million. The Company plans to restructure its ownership of The 50/50 into a mortgage revenue bond holding once the development has a sufficient history of operating results. To finance the construction of the student housing complex, the Company executed an interest-only loan and borrowed $25.5 million for a three year term at a variable interest rate which is the amount outstanding as of September 30, 2014. The $25.5 million loan requires principal payments beginning on April 1, 2016 and carries a maturity date of April 1, 2020 (Note 11). The Company also secured a $4.3 million tax-incremental financing loan which is for a term of five years, carries a fixed interest rate of approximately 4.7% per annum, requires principal payments commencing after 24 months and has a balloon payment due at maturity.
	The Company had the following investments in MF Properties as of September 30, 2014 and December 31, 2013:
	MF Properties
	Property Name	Location		Number of Units		Land and Land Improvements		Buildings and		Carrying Value at September 30, 2014
								Improvements
	Arboretum	Omaha, NE		145		$	1,740,754	$	19,189,588	$	20,930,342
	Eagle Village	Evansville, IN		511		567,880		12,447,195		13,015,075
	Glynn Place	Brunswick, GA		128		743,996		4,975,955		5,719,951
	The Colonial	Omaha, NE		258		1,180,058		7,797,855		8,977,913
	Meadowview	Highland Heights, KY		118		688,539		5,444,076		6,132,615
	Residences of DeCordova	Granbury, TX		110		1,137,832		7,988,270		9,126,102
	Residences of Weatherford	Weatherford, TX		76		1,927,701		5,714,133		7,641,834
	The 50/50	Lincoln, NE		475		—		32,689,619		32,689,619
	Woodland Park	Topeka, KS		236		1,260,032		14,100,520		15,360,552
										119,594,003
	Less accumulated depreciation (depreciation expense of approximately $1.3 million and $3.3 million for the three and nine months ended September 30, 2014)									(12,646,878		)
	Balance at September 30, 2014									$	106,947,125
	MF Properties
	Property Name	Location		Number of Units		Land and Land Improvements		Buildings and		Carrying Value at December 31, 2013
								Improvements
	Arboretum	Omaha, NE		145		$	1,739,554	$	19,123,872	$	20,863,426
	Eagle Village	Evansville, IN		511		567,880		12,336,975		12,904,855
	Glynn Place	Brunswick, GA		128		743,996		4,937,172		5,681,168
	The Colonial	Omaha, NE		258		1,180,058		7,613,668		8,793,726
	Meadowview	Highland Heights, KY		118		688,539		5,416,293		6,104,832
	Residences of DeCordova	Granbury, TX		110		1,137,832		7,965,574		9,103,406
	Residences of Weatherford	Weatherford, TX		76		1,927,701		5,695,600		7,623,301
	Woodland Park	Topeka, KS		236		1,260,032		14,033,777		15,293,809
	Construction work in process (The 50/50)	Lincoln, NE		N/A		—		13,130,325		13,130,325
										99,498,848
	Less accumulated depreciation (depreciation expense of approximately $3.8 million in 2013)									(9,386,811		)
	Balance at December 31, 2013									$	90,112,037
	Acquisitions
	The Woodland Park property purchase price allocation is disclosed pursuant to the accounting guidance on business combinations. A condensed balance sheet at the date of acquisitions is included below.
		Woodland Park 5/29/2013 (Date of Acquisition)
	Other current assets	$	201,321
	In-place lease assets	403,216
	Real estate assets	15,258,784
	Total Assets	$	15,863,321
	Accounts payable, accrued expenses and other	$	192,345
	Net assets	15,670,976
	Total liabilities and net assets	$	15,863,321
	The table below shows the pro forma condensed consolidated results of operations of the Company as if Woodland Park had been acquired at the beginning of the periods presented:
		For the Three Months Ended September 30, 2013			For the Nine Months Ended September 30, 2013
	Revenues	$	9,764,177		$	38,129,451
	Net income	3,411,259			15,688,415
	Net income allocated to unitholders	3,356,268			15,156,732
	Unitholders' interest in net income per unit (basic and diluted)	$	0.08		$	0.35
	Consolidated VIE Properties
	In addition to the MF Properties, the Company consolidates the assets, liabilities and results of operations of the Consolidated VIEs in accordance with the accounting guidance on consolidations.  Although the assets of these VIEs are consolidated, the Company has no ownership interest in the VIEs other than to the extent they serve as collateral for the mortgage revenue bonds owned by the Partnership.  The results of operations of those properties are recorded by the Company in consolidation but any net income or loss from these properties does not accrue to the unitholders or the general partner, but is instead included in “Unallocated deficit of Consolidated VIEs.”
	The Company consolidated the following properties owned by Consolidated VIEs in continuing operations as of September 30, 2014 and December 31, 2013:
	Consolidated VIEs
	Property Name	Location		Number of Units		Land and Improvements		Buildings and Improvements		Carrying Value at September 30, 2014
	Bent Tree Apartments	Columbia, SC		232		$	986,000	$	12,226,825	$	13,212,825
	Fairmont Oaks Apartments	Gainsville, FL		178		850,400		8,904,969		9,755,369
										22,968,194
	Less accumulated depreciation (depreciation expense of approximately $236,000 and $702,000 for the three and nine months ended September 30, 2014)									(10,416,221		)
	Balance at September 30, 2014									$	12,551,973
Consolidated VIEs
Property Name	Location		Number of Units		Land and Improvements		Buildings and Improvements		Carrying Value at December 31, 2013
Bent Tree Apartments	Columbia, SC		232		$	986,000	$	12,097,419	$	13,083,419
Fairmont Oaks Apartments	Gainesville, FL		178		850,400		8,845,020		9,695,420
									22,778,839
Less accumulated depreciation (depreciation expense of approximately $1.4 million in 2013)									(9,741,942		)
Balance at December 31, 2013									$	13,036,897

Other_Assets

Other Assets	9 Months Ended
	Sep. 30, 2014
Other Assets [Abstract]	'
Other Assets Disclosure [Text Block]	'
	Other Assets
	The Company had the following Other assets as of dates shown:
		September 30, 2014			December 31, 2013
	Taxable property loans receivable	$	22,214,738		$	21,549,927
	Less: Loan loss reserves	(7,098,814		)	(7,023,814		)
	Deferred financing costs - net	4,897,466			2,503,679
	Fair value of derivative contracts	1,507,302			888,120
	Taxable bonds at estimated fair value	4,544,470			4,075,953
	Land held for sale	1,482,184			1,465,000
	Bond purchase commitments - fair value adjustment (Notes 4 & 16)	2,968,941			—
	Other assets	991,727			899,426
	Total Other assets	$	31,508,014		$	24,358,291
	In addition to the mortgage revenue bonds held by the Company, taxable property loans have been made to the owners of the properties which secure the mortgage revenue bonds and are reported as taxable property loans receivable in Other assets, net of loan loss reserves.  The Company periodically, or as changes in circumstances or operations dictate, evaluates such taxable property loans receivable for impairment.  The value of the underlying property assets is ultimately the most relevant measure of value to support the taxable property loan values.  The Company utilizes a discounted cash flow model in estimating a property fair value.  Discounted cash flow models containing varying assumptions are considered.   The various models may assume multiple revenue and expense scenarios, various capitalization rates and multiple discount rates.  Other information, such as independent appraisals, may be considered in estimating a property’s fair value.  If the estimated fair value of the property after deducting the amortized cost basis of any senior mortgage revenue bond exceeds the principal balance of the taxable property loan then no potential loss is indicated and no loan loss reserve for taxable property loans is needed. In estimating the property valuation, the most significant assumptions utilized in the discounted cash flow model remain the same as discussed in the Form 10-K and include revenue and expense projections and capitalization rates.
	On June 30, 2014, the Company restructured twelve mortgage revenue bonds related to Avistar on the Boulevard, Avistar at Chase Hill, Avistar at the Crest, Avistar on the Hills Apartments, Avistar at the Oaks Apartments, and Avistar in 09 Apartments purchased in June and February 2013 (Note 4). In connection with the mortgage revenue bond restructuring the Company loaned these entities approximately $526,000 to cover the costs of restructuring the mortgage revenue bonds. These taxable loans have a stated interest rate of 12.0% per annum due monthly with any unpaid balance due on June 26, 2024 (Note 4).
	In November 2013, the Company executed a loan agreement with FAH, a not-for-profit borrower, for approximately $1.6 million. The proceeds from this loan were used to fund a portion of the not-for-profit borrower’s acquisition of Abbington at Stones River, a 96 unit multifamily property located in Tennessee. The term of the loan is approximately eighteen months and the stated interest rate is 9.0% per annum.
	In August 2013, the Partnership acquired a Series C mortgage revenue bond and a forward contract to support the construction of Vantage at Harlingen Apartments in Harlingen, Texas. In conjunction with this contract, the Partnership acquired an approximate $1.3 million taxable mortgage revenue bond which carries a base interest rate of 9.0% per annum and matures on August 1, 2053. This taxable mortgage revenue bond is reported as part of the Taxable bonds at fair value in Other assets.
	In June 2013, the Partnership acquired six mortgage revenue bonds secured by three properties located in San Antonio, Texas, Avistar at the Oaks Apartments, Avistar on the Hills Apartments, and Avistar in 09 Apartments. The Partnership also acquired approximately $831,000 of taxable mortgage revenue bonds which carry a base interest rate of 9.0% per annum and mature on September 1, 2050. These are reported as part of the Taxable bonds at fair value in Other assets.
	In February 2013, the Partnership acquired six mortgage revenue bonds secured by three properties located in San Antonio, Texas, Avistar on the Boulevard, Avistar at Chase Hill, and Avistar at the Crest. The Partnership also acquired approximately $804,000 of taxable mortgage revenue bonds which carry a base interest rate of 9.0% per annum and mature on April 1, 2050. These are reported as part of the Taxable bonds at fair value in Other assets.
	Please see the Fair Value Measurement footnote (Note 15) for the detailed description of the fair value estimation process for all taxable mortgage bonds.
	During the first nine months of 2014, the Partnership advanced additional funds to Cross Creek and the Ohio Properties of approximately $125,000 and $29,000, respectively. In addition, the Partnership received an approximate $15,000 of principal from FAH during the third quarter of 2014. During the first nine months of 2013, the Partnership advanced additional funds to Ashley Square, Cross Creek, the Greens Property, and the Ohio Properties of approximately $164,000, $168,000, $26,000 and $44,000, respectively. Due to the recognized sale of the Ohio and Greens Properties, the taxable property loans receivable with the Ohio and Greens Properties are no longer eliminated upon consolidation (Note 9). During the first nine months of 2014 and 2013, the Partnership recorded loan loss reserves equal to the accrued interest on the Ashley Square, Cross Creek, Greens, Lake Forest, and the Ohio Properties taxable property loans receivable because the Partnership determined they were not reasonably assured. Based on the quarterly impairment analysis, the Partnership reserved $75,000 and $168,000 against the amounts advanced to the Cross Creek property for the nine months ended September 30, 2014 and 2013, respectively.
	The following is a summary of the taxable property loans receivable, accrued interest and loan loss reserves on the amounts due at September 30, 2014 and December 31, 2013, respectively:
		September 30, 2014
		Outstanding Balance			Accrued Interest			Loan Loss Reserves			Interest Allowance			Net Taxable Property Loans
	Arbors at Hickory Ridge	$	191,264		$	22,703		$	—		$	—		$	213,967
	Ashley Square	5,078,342			2,314,530			(3,596,342		)	(2,314,530		)	1,482,000
	Avistar (February 2013 portfolio)	274,496			8,235			—			—			282,731
	Avistar (June 2013 portfolio)	251,622			7,549			—			—			259,171
	Cross Creek	6,946,087			2,019,041			(3,447,472		)	(2,019,041		)	3,498,615
	Foundation for Affordable Housing	1,587,776			4,006			—			—			1,591,782
	Greens Property	876,000			207,959			—			(2,990		)	1,080,969
	Lake Forest	4,618,704			2,484,191			(55,000		)	(2,463,356		)	4,584,539
	Ohio Properties	2,390,447			813,935			—			(276,358		)	2,928,024
		$	22,214,738		$	7,882,149		$	(7,098,814	)	$	(7,076,275	)	$	15,921,798
		December 31, 2013
		Outstanding Balance			Accrued Interest			Loan Loss Reserves			Interest Allowance			Net Taxable Property Loans
	Arbors at Hickory Ridge	$	191,264		$	12,979		$	—		$	—		$	204,243
	Ashley Square	5,078,342			2,053,415			(3,596,342		)	(2,053,415		)	1,482,000
	Cross Creek	6,821,087			1,825,389			(3,372,472		)	(1,825,389		)	3,448,615
	Foundation for Affordable Housing	1,603,083			13,989			—			—			1,617,072
	Greens Property	876,000			130,563			—			(921		)	1,005,642
	Lake Forest	4,618,704			2,148,881			(55,000		)	(2,128,046		)	4,584,539
	Ohio Properties	2,361,447			585,377			—			(186,706		)	2,760,118
		$	21,549,927		$	6,770,593		$	(7,023,814	)	$	(6,194,477	)	$	15,102,229
	The following is a detail of loan loss reserves for the nine months ended September 30, 2014 and year ended December 31, 2013:
		30-Sep-14			31-Dec-13
	Balance, beginning of year	$	7,023,814		$	12,272,671
	Realized loss on taxable loan - Iona Lakes	—			(4,557,741		)
	Provision for loan loss	75,000			168,000
	Deconsolidation of VIEs	—			55,000
	Write off due to foreclosure	—			(914,116		)
	Balance, end of year	$	7,098,814		$	7,023,814
	In June 2013, the Partnership redeemed its interest in the Iona Lakes mortgage revenue bond for approximately $21.9 million. This redemption resulted in the realization of approximately $6.5 million in contingent interest income and approximately $4.6 million realized loss on taxable property loans.

Discontined_Operations

Discontined Operations	9 Months Ended
	Sep. 30, 2014
Discontinued Operations [Abstract]	'
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	'
	Discontinued Operations
	In June 2010, the Company completed a sales transaction whereby the Ohio Properties were sold to three new ownership entities controlled by an unaffiliated not-for-profit entity and in October 2011, the three limited partnerships that own the Ohio Properties admitted two entities that are affiliates of BC Partners as new limited partners as part of a syndication of LIHTCs. The BC Partners agreed to contribute equity to these limited partnerships, subject to the Ohio Properties meeting certain debt service coverage ratios specified in the applicable limited partnership agreements. As such, there was not sufficient equity invested at closing by the not-for-profit or BC Partners into the Ohio Properties to allow the Company to recognize a real estate sale for accounting purposes. During the first quarter of 2013, BC Partners contributed $6.5 million of capital into the Ohio Properties which was sufficient to allow the Company to recognize the sale for accounting purposes. This gain on sale of discontinued operations was approximately $1.8 million.
	The deposit method of accounting for real estate sales required deferral of the gain from the real estate sale and did not allow recognition of the interest payments by the Ohio Properties to the Company between June 2010 and the date of the equity contribution by BC Partners. In conjunction with the recognition of the real estate sale, approximately $3.5 million of interest was recognized within investment income in the first three months of 2013 which represents the interest payments received from the Ohio Properties between June 2010 and December 2012. In addition, the Partnership reported approximately $1.1 million in taxable note interest income received from the Ohio Properties and a $250,000 guarantee fee from the general partner of the Ohio Properties during the first quarter of 2013. Due to the deposit method of accounting, the Company recognized the sale of the Ohio Properties and the purchase of the mortgage revenue bonds they secure in the consolidated statement of cash flows during the first quarter of 2013. The Ohio Properties contributed approximately $0 and $138,000 to income from discontinued operations for the three and nine months ended September 30, 2013.
	In October 2012, the limited partnership that owns the Greens Property admitted two entities that are affiliates of BC Partners as new limited partners as part of a syndication of LIHTCs on the Greens Property. Prior to the execution of the admittance of the new limited partners, the Company had entered into an agreement to sell the Greens Property for approximately $7.3 million to an unaffiliated not-for-profit which is the general partner of the limited partnership that now owns the Greens Property.  That sale was conditional on securing the mortgage revenue bond and low-income housing tax credits from the North Carolina Housing Finance Agency.  The $961,000 BC Partners equity contribution into this limited partnership in October 2012 was not sufficient to allow the Company to recognize a real estate sale for accounting purposes. In July 2013, BC Partners made their required $800,000 capital contribution into the Greens Property as construction was then 75% complete.
	The Company purchased 100% of the mortgage revenue bonds issued as part of the agreement to finance the acquisition and rehabilitation of the Greens Property. The Series A mortgage revenue bond has approximately $8.5 million par value and bears interest at 6.5% per annum. The Series B mortgage revenue bond has a $950,000 par value and bears interest at 12.0% per annum. Both series of mortgage revenue bonds mature on October 1, 2047. The Company also obtained an $850,000 taxable property loan secured by the Greens Property at closing.
	The July 2013 equity payment provided sufficient invested equity to recognize a real estate sale for accounting purposes and the Company recorded the sale of this discontinued operation. This gain on sale of discontinued operations was approximately $1.4 million. The deposit method of accounting for real estate sales required the deferral of the gain from the real estate sale and did not allow recognition of the interest payments by the Greens Property to the Company between October 2012 and July 2013, the date of the second equity contribution by BC Partners. In conjunction with the recognition of the real estate sale, approximately $523,000 of interest was recognized within investment income in the third quarter of 2013 which represents the interest payments received from the Greens Property between October 2012 and July 31, 2013. The Greens Property contributed a loss from discontinued operations of approximately $59,000 for the three months ended September 30, 2013 and net income of $265,000 for the nine months ended September 30, 2013. In the third quarter of 2014 received and reported $188,000 guarantee fee per the Greens Property agreements.
	There were no assets and liabilities of discontinued operations to report at September 30, 2014 and December 31, 2013.

Debt_Financing

Debt Financing	9 Months Ended
	Sep. 30, 2014
Debt Financing [Abstract]	'
Debt Disclosure [Text Block]	'
	Debt Financing
	At September 30, 2014 and December 31, 2013, the Company reported outstanding debt financing of approximately $347.0 million and approximately $257.3 million, respectively, under separate credit facilities.
	Other Financings
	In March 2014, the Partnership obtained two $5.0 million unsecured revolving lines of credit. The first revolving line of credit carries a variable interest rate which was approximately 3.5% on the closing date and matures in March 2015. The second revolving line of credit also carries a variable interest rate which was approximately 3.4% on September 30, 2014 and matures in March 2016. On September 30, 2014, the Partnership had not borrowed funds on either line of credit. The lines of credit will be utilized to help with short-term working capital needs and to fund new investments during the periods of time that the Company is working with its lender to finalize new TOB financings of assets.
	Tender Option Bond Financings
	Description of the Tender Option Bond Financings		Outstanding Debt Financing at September 30, 2014		Stated Maturity
	PHC Certificates-TOB Trust		$	44,675,000	Dec-14
	MBS - TOB Trust 1		2,585,000		Oct-14
	MBS - TOB Trust 2		4,090,000		Oct-14
	MBS - TOB Trust 4		5,960,000		Oct-14
	MBS - TOB Trust 5		10,545,000		Oct-14
	MBS - TOB Trust 6		7,825,000		Feb-15
	The Suites on Paseo - TOB Trust		25,750,000		Dec-14
	TOB - Decatur Angle - TOB Trust		21,850,000		Oct-16
	Live 929 - TOB Trust		34,990,000		Jul-19
	Bruton Apartments - TOB Trust		17,250,000		Jul-17
	Total Debt Financing		$	175,520,000
	Description of the Tender Option Bond Financings		Outstanding Debt Financing at December 31, 2013		Stated Maturity
	PHC Certificates-TOB Trust		$	48,995,000	Jun-14
	Autumn Pines-TOB Trust		9,770,000		Jul-14
	MBS - TOB Trust 1		2,585,000		Apr-14
	MBS - TOB Trust 2		4,090,000		Apr-14
	MBS - TOB Trust 3		2,865,000		Apr-14
	MBS - TOB Trust 4		5,960,000		Apr-14
	MBS - TOB Trust 5		10,545,000		Apr-14
	Greens of Pine Glen - TOB Trust		5,700,000		Jun-14
	Arbors of Hickory Ridge - TOB Trust		7,000,000		Aug-14
	MBS - TOB Trust 6		7,825,000		Aug-14
	Avistar (February 2013 portfolio) - TOB Trust (1)		20,000,000		Jun-14
	Avistar (June 2013 portfolio) - TOB Trust (2)		13,210,000		Oct-14
	The Suites on Paseo - TOB Trust		25,750,000		Dec-14
	Total Debt Financing		$	164,295,000
	(1) Avistar at the Oaks Apartments, Avistar on the Hills Apartments, and Avistar in 09 Apartments is the collateral for the $20.0 million TOB Trust.
	(2) Avistar at Chase Hill, Avistar at the Crest, and Avistar on the Boulevard is the collateral for the approximate $13.2 million TOB Trust.
	In July 2011, the Company executed a Master Trust Agreement with DB which allows the Company to execute multiple Tender Option Bond (“TOB Trust”) structures upon the approval and agreement of terms by DB. Under each TOB Trust structure issued through the Master Trust Agreement, the TOB trustee issues SPEARS and LIFERS. These SPEARS and LIFERS represent beneficial interests in the securitized asset held by the TOB trustee. The Company will purchase the LIFERS from each of these TOB Trusts which will grant them certain rights to the securitized assets. The Master Trust Agreement with DB has covenants with which the Company is required to comply. At September 30, 2014, the most restrictive covenant was that cash available to distribute for the trailing twelve months must be at least two times trailing twelve month interest expense. The Company was in compliance with all covenants as of September 30, 2014. If the Company were to be out of compliance with any of these covenants, it would trigger a termination event of the financing facilities. The Company expects to renew each of the TOB financing facilities at its discretion per the terms of the agreements. DB can require the posting of cash collateral under the terms of the Master Trust Agreement.
	In August 2014, the Partnership executed a new TOB Trust under its credit facility with DB securitizing the Bruton Apartments mortgage revenue bond borrowing approximately $17.3 million. The TOB Trust facility has an approximate 4.6% per annum fixed interest rate and will mature in July 2017. Pursuant to the terms of this TOB trust the Partnership is required to reimburse DB for any shortfall realized on the contractual cash flows on the SPEARS. The outstanding balance remains at $17.3 million on September 30, 2014.
	In July 2014, the Partnership executed a new TOB Trust under its credit facility with DB securitizing the Live 929 mortgage revenue bond borrowing approximately $35.0 million. The TOB Trust facility has an approximate 4.4% per annum fixed interest rate and will mature in July 2019. Pursuant to the terms of this TOB trust the Partnership is required to reimburse DB for any shortfall realized on the contractual cash flows on the SPEARS. The outstanding balance is approximately $35.0 million on September 30, 2014.
	In July 2014, the Partnership executed a new TOB Trust under its credit facility with DB securitizing the Decatur-Angle mortgage revenue bond borrowing $21.9 million. The new TOB Trust facility will mature in October 2016. On the closing date the total fixed TOB Trust facility interest rate was approximately 4.3% per annum. Pursuant to the terms of this TOB trust the Partnership is required to reimburse DB for any shortfall realized on the contractual cash flows on the SPEARS. This new TOB Trust replaced the March 2014 TOB Trust under its credit facility with DB which had securitized the Decatur-Angle mortgage revenue bond borrowing $17.3 million. The outstanding balance remains at $21.9 million on September 30, 2014.
	In July 2014, a separate transaction occurred as a preliminary transaction to achieve the closing of the 2014 TEBS financing (discussed in the 2014 TEBS Financing section in Note 10). DB purchased the SPEARS which securitized four TOB Trust facilities for approximately $45.9 million and approximately $26.5 million in the related residual LIFERS. DB held the ten mortgage revenue bonds that collateralized this transaction, the Greens Property, Arbors at Hickory Ridge, Avistar on the Boulevard, Avistar at Chase Hill, Avistar at the Crest, Avistar on the Hills Apartments, Avistar at the Oaks Apartments, and Avistar in 09 Apartments, until the 2014 TEBS financing facility closed on July 10, 2014.
	In December 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing The Suites on Paseo Series A mortgage revenue bond. The amount borrowed was approximately $25.8 million with a variable interest rate tied to SIFMA. The facility matures in December 2014. On the date of the closing the total fixed TOB Trust fee was approximately 1.6% per annum and the variable rate paid on the TOB Trust on the SPEARS was approximately 0.4% per annum resulting in a total cost of borrowing of approximately 2.0% per annum. The outstanding balance remains at approximately $25.8 million on September 30, 2014.
	In October 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing the Avistar at the Oaks Apartments, the Avistar on the Hills Apartments, and the Avistar in 09 Apartments Series A mortgage revenue bonds. The amount borrowed was approximately $13.2 million with a variable interest rate tied to SIFMA. This TOB Trust was settled in July 2014.
	In June 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing the Avistar on the Boulevard, Avistar at Chase Hill, and Avistar at the Crest Series A mortgage revenue bonds. The amount borrowed was $20.0 million with a variable interest rate tied to SIFMA. This TOB Trust was settled in July 2014.
	In March 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing the Arbors at Hickory Ridge mortgage revenue bond. The amount borrowed was $7.0 million with a variable interest rate tied to SIFMA. This TOB Trust was settled in July 2014.
	In February 2013, the Company executed a new TOB Trust under its credit facility with DB securitizing the Greens Property mortgage revenue bond. The amount borrowed was approximately $5.8 million with a variable interest rate tied to SIFMA. This TOB Trust was settled in July 2014.
	In the fourth quarter of 2012 through the second quarter of 2013, the Company purchased the LIFERS issued by the trustee of six additional TOB Trusts. The LIFERS entitle the Company to all principal and interest payments received by these TOB Trusts on the mortgage-backed securities after payments due to the holders of the SPEARS and trust costs (“MBS TOB Trusts”). The SPEARS represent senior interests in the MBS TOB Trusts and some have been credit enhanced by DB. The Company reports the MBS TOB Trusts on a consolidated basis as it has determined it is the primary beneficiary of these variable interest entities (Note 6). A summary of the six MBS TOB Trusts is as follows:
	•	During the fourth quarter of 2012, the Company purchased approximately $6.5 million of LIFERS from securitized MBS TOB Trusts with a par value of approximately $31.6 million of MBS. The MBS TOB Trusts also issued SPEARS of approximately $25.1 million to unaffiliated investors. The approximate outstanding amount at September 30, 2014 is $21.2 million which mature in October 2014. On the closing date the total fixed TOB Trust fee was approximately 0.9% per annum and the variable rate paid on the SPEARS of approximately 0.4% is tied to SIFMA which results in the total cost of borrowing of approximately 1.3%.
	•	In January 2013, the Company purchased an additional $540,000 of LIFERS from one of the five MBS TOB Trusts which is a securitization of MBS with a par value of $2.5 million. SPEARS of approximately $2.0 million were issued by the MBS TOB Trust which is currently outstanding at September 30, 2014. This MBS TOB Trust matures in October 2014. On the closing date the total fixed TOB Trust fee was approximately 0.9% per annum and the variable rate paid on the SPEARS of approximately 0.3% is tied to SIFMA which results in the total cost of borrowing of approximately 1.2%.
	•	In April 2013, the Company purchased approximately $2.2 million of LIFERS issued by a new MBS TOB Trust which is the securitization of MBS with a par value of approximately $10.0 million. The MBS TOB Trusts issued SPEARS of approximately $7.8 million to unaffiliated investors which is the outstanding amount at September 30, 2014. This facility matures in February 2015. On the closing date the total fixed TOB Trust fee was approximately 0.9% per annum and the variable rate paid on the SPEARS of approximately 0.3% is tied to SIFMA which results in the total cost of borrowing of approximately 1.2%.
	In May 2014, the Company sold a portion of the MBS and collapsed the related MBS - TOB Trust 3 securitizing the related MBS for approximately $3.7 million. The Company’s $2.9 million TOB financing facility, which was the securitization of this MBS TOB Trust, was paid off in full in connection with this sale.
	In April 2014, the mortgage revenue bond secured by Autumn Pines was sold for approximately $13.1 million. The Company’s $9.8 million TOB financing facility, which was the securitization of this mortgage revenue bond, was collapsed and paid off in full in connection with this sale (Note 4).
	As of September 30, 2014, the Company has posted approximately $2.5 million of cash collateral in connection with the MBS TOB Trusts. This collateral is recorded as restricted cash in the consolidated financial statements.
	The Company owns the PHC Certificate LIFERS issued by the PHC TOB Trusts and pledged the LIFERS to the trustee to secure certain reimbursement obligations of the Company as the holder of LIFERS. The Company is consolidating the PHC TOB Trust as it has determined it is the primary beneficiary of these variable interest entities. The PHC TOB Trusts issued SPEARS to unaffiliated investors. The SPEARS represent senior interests in the PHC TOB Trusts and have been credit enhanced by DB. The LIFERS entitle the Company to all principal and interest payments received by the PHC TOB Trusts. Approximately $4.3 million was paid to reduce the outstanding balance during the first nine months of 2014. The amount owed to the SPEARS owners is approximately $44.7 million at September 30, 2014.
	The Company is accounting for these TOB Trust financing transactions as secured financing arrangements. As of September 30, 2014, the total cost of borrowing averaged approximately 2.4% and 0.9%, on the PHC TOB Trusts and MBS TOB Trusts, respectively.
	2014 TEBS Financing
	On July 10, 2014, the Partnership and its newly created consolidated subsidiary, ATAX TEBS II, LLC (“2014 Sponsor”), entered into a number of agreements relating to a new long-term debt financing facility provided through the securitization of thirteen mortgage revenue bonds (“Bonds”), with a par value of approximately $118.4 million, owned by the the 2014 Sponsor pursuant to the 2014 TEBS financing. The 2014 TEBS financing facility essentially provides the Partnership with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term tax-exempt rates.
	Effective July 1, 2014, the Partnership transferred the following mortgage revenue bonds to the 2014 Sponsor pursuant to the 2014 TEBS financing described above:
	Description of		Outstanding Bond Par Amounts
	Mortgage Revenue Bonds		30-Sep-14		1-Jul-14		Financial Statement Presentation
	Arbors at Hickory Ridge		$	11,450,000	$	11,450,000	Mortgage revenue bond
	Avistar at Chase Hill A Bond		10,000,000		10,000,000		Mortgage revenue bond
	Avistar at the Crest A Bond		9,700,000		9,700,000		Mortgage revenue bond
	Avistar at the Oaks A Bond		7,800,000		7,800,000		Mortgage revenue bond
	Avistar in 09 A Bond		6,735,000		6,735,000		Mortgage revenue bond
Avistar on the Boulevard A Bond		16,525,000		16,525,000		Mortgage revenue bond
Avistar on the Hills		5,389,000		5,389,000		Mortgage revenue bond
Copper Gate Apartments		5,220,000		5,220,000		Mortgage revenue bond
Greens Property A Bond		8,384,000		8,396,000		Mortgage revenue bond
Harden Ranch A Bond		6,960,000		6,960,000		Mortgage revenue bond
The Palms at Premier Park Apartments		20,152,000		20,152,000		Mortgage revenue bond
Tyler Park Apartments A Bond		6,075,000		6,075,000		Mortgage revenue bond
Westside Village A Bond		3,970,000		3,970,000		Mortgage revenue bond
Total		$	118,360,000	$	118,372,000
The mortgage revenue bonds were then securitized by transferring these assets to Freddie Mac in exchange for Class A and Class B Freddie Mac Multifamily Variable Rate Certificates (collectively, the “2014 TEBS Certificates”) issued by Freddie Mac. The 2014 TEBS Certificates represent beneficial interests in the securitized assets held by Freddie Mac. The Class A TEBS Certificates were issued in an initial principal amount of approximately $94.7 million and were sold through a placement agent to unaffiliated investors. The Class B 2014 TEBS Certificates were issued in an initial principal amount of approximately $23.7 million and were retained by the 2014 Sponsor. The gross proceeds from the 2014 TEBS financing were approximately $94.7 million. After the payment of transaction expenses, the Partnership received net proceeds from the 2014 TEBS financing of approximately $91.6 million. The Partnership applied approximately $72.4 million of these net proceeds to retire the short-term securitization that previously existed on these bonds and approximately $6.3 million to a stabilization escrow. The approximate $6.3 million is reported as restricted cash on the September 30, 2014 balance sheet.
The holders of the Class A 2014 TEBS Certificates are entitled to receive regular payments of interest from Freddie Mac at a variable rate which resets periodically based on the weekly SIFMA floating index rate plus certain credit, facility, remarketing, and servicing fees (“Facility Fees”). As of closing, the SIFMA rate was equal to 0.04% per annum and the total Facility Fees were approximately 1.4% per annum, resulting in a total initial cost of borrowing of approximately 1.5% per annum. In order to mitigate its exposure to interest rate fluctuations on the variable rate 2014 TEBS financing, the 2014 Sponsor also entered into interest rate cap agreements with Barclays Bank PLC, the Royal Bank of Canada, and Sumitomo Mitsui Banking Corporation, each in an initial notional amount of approximately $31.6 million, which effectively limits the interest payable by the 2014 Sponsor on the Class A 2014 TEBS Certificates to a fixed rate of 3.0% per annum on the combined notional amounts of the interest rate cap agreements through August 15, 2019.
The total Facility Fees are 1.4% per annum, and as of September 30, 2014, the SIFMA rate was equal to approximately 0.0% per annum resulting in a total cost of borrowing of approximately 1.4% per annum on the outstanding balance of the 2014 TEBS financing facility of approximately $94.7 million. The 2014 TEBS financing and the associated TEBS Trust are presented as secured financings within the consolidated financial statements.
Payment of interest on the Class A 2014 TEBS Certificates will be made from the interest payments received by Freddie Mac from the Bonds held by Freddie Mac on designated interest payment dates prior to any payments of interest on the Class B 2014 TEBS Certificates held by the 2014 Sponsor. As the holder of the Class B 2014 TEBS Certificates, the 2014 Sponsor is not entitled to receive interest payments on the Class B TEBS Certificates at any particular rate, but will be entitled to all payments of principal and interest on the Bonds held by Freddie Mac after payment of principal and interest due on the Class A 2014 TEBS Certificates and payment of all Facility Fees and associated expenses. Accordingly, the amount of interest paid to the 2014 Sponsor on the Class B 2014 TEBS Certificates is expected to vary over time, and could be eliminated altogether, due to fluctuations in the interest rate payable on the Class A 2014 TEBS Certificates, Facility Fees, expenses, and other factors.
Freddie Mac guaranteed payment of scheduled principal and interest payments on the Class A 2014 TEBS Certificates and also guaranteed payment of the purchase price of any Class A 2014 TEBS Certificates that are tendered to Freddie Mac in accordance with their terms which cannot be remarketed to new holders within five business days.  The 2014 Sponsor is obligated to reimburse Freddie Mac for certain expenses, including any payments made by Freddie Mac under its guaranty. These obligations of the 2014 Sponsor are also guaranteed by the Partnership.  The Partnership also entered into various subordination agreements with Freddie Mac under which the Partnership has subordinated its rights and remedies with respect to the mortgage revenue and taxable bonds and taxable mortgage loans made by it to the owners of properties securing certain of the Bonds to the rights of Freddie Mac as the holder of the Bonds.
The term of the 2014 TEBS financing coincides with the terms of the assets securing the 2014 TEBS Certificates, except the 2014 Sponsor may elect to purchase all (but not less than all) of the Bonds from Freddie Mac on either July 15, 2019 or July 15, 2024.  The 2014 Sponsor also retains a right to require a Bond to be released from Freddie Mac in the event of a payment default on the Bond which remains uncured for two consecutive scheduled payment dates or 60 days, whichever is shorter, by paying Freddie Mac the unpaid principal and accrued interest on the Bond plus a yield maintenance payment.  In addition, the 2014 Sponsor has a limited right to substitute new bonds for existing Bonds held by Freddie Mac in certain circumstances. Should the Partnership not elect to terminate the TEBS Financing on these dates the full term of the 2014 TEBS Financing runs through the final principal payment date associated with the securitized bonds, or August 1, 2050.
2010 TEBS Financing
As of September 1, 2010, the Partnership and its Consolidated Subsidiary ATAX TEBS I, LLC, entered into a number of agreements relating to a new long-term debt financing facility provided through the securitization of thirteen mortgage revenue bonds owned by the ATAX TEBS I, LLC (“2010 Sponsor”) pursuant to the 2010 TEBS financing. The 2010 TEBS financing essentially provides the Partnership with a long-term variable-rate debt facility at interest rates reflecting prevailing short-term rates. In January 2014, the mortgage revenue bond secured by Lost Creek was retired for an amount greater than the outstanding principal and accrued base interest. The Company received approximately $18.7 million for the Lost Creek mortgage revenue bond and paid approximately $15.7 million to reduce the outstanding balance of the 2010 TEBS financing facility (Note 4), therefore at September 30, 2014 there are twelve mortgage revenue bonds owned by the 2010 Sponsor.
The par value of the mortgage revenue bonds included in this financing facility as of September 30, 2014 and December 31, 2013 are as follows:
Description of		Outstanding Bond Par Amounts
Mortgage Revenue Bonds		September 30, 2014		December 31, 2013		Financial Statement Presentation
Ashley Square		$	5,174,000	$	5,212,000	Mortgage revenue bond
Bella Vista		6,490,000		6,545,000		Mortgage revenue bond
Bent Tree		7,486,000		7,542,000		Consolidated VIE
Bridle Ridge		7,655,000		7,715,000		Mortgage revenue bond
Brookstone		9,277,079		9,338,603		Mortgage revenue bond
Cross Creek		8,442,164		8,497,933		Mortgage revenue bond
Fairmont Oaks		7,290,000		7,355,000		Consolidated VIE
Lake Forest		8,916,000		8,997,000		Mortgage revenue bond
Runnymede		10,485,000		10,525,000		Mortgage revenue bond
Southpark		13,795,000		13,795,000		Mortgage revenue bond
Woodlynn Village		4,408,000		4,426,000		Mortgage revenue bond
Ohio Series A Bond (1)		14,431,000		14,498,000		Mortgage revenue bond
Villages at Lost Creek		—		18,090,000		Mortgage revenue bond
Total		$	103,849,243	$	122,536,536
(1) Collateralized by Crescent Village, Postwoods, and Willow Bend (Note 2 and Note 9)
The securitization of these assets occurred through two classes of certificates. The Class A TEBS Certificates were issued in an initial principal amount of $95.8 million and were sold through a placement agent to unaffiliated investors. The Class B TEBS Certificates were issued in an initial principal amount of $20.3 million and were retained by the 2010 Sponsor. The holders of the Class A TEBS Certificates are entitled to receive regular payments of interest from Freddie Mac at a variable rate which resets periodically based on the weekly SIFMA floating index rate plus the Facility Fees.
The total Facility Fees are 1.9% per annum, and as of September 30, 2014, the SIFMA rate was equal to approximately 0.1% per annum resulting in a total cost of borrowing of approximately 2.0% per annum on the outstanding balance of the 2010 TEBS financing facility of $77.2 million. The 2010 TEBS financing and the associated TEBS Trust are presented as secured financings within the consolidated financial statements.
The term of the 2010 TEBS financing coincides with the terms of the assets securing the TEBS Certificates, except that the Partnership may terminate the 2010 TEBS financing at its option on either September 15, 2017 or September 15, 2020. If the Partnership does not elect to terminate the 2010 TEBS financing on these dates, the full term of the 2010 TEBS financing runs through the final principal payment date associated with the securitized mortgage revenue bonds, or July 15, 2050.
The Company’s debt financing as of September 30, 2014 contractually matures over the next five years and thereafter as follows:
2014		$	94,128,329
2015		9,767,864
2016		24,229,702
2017		92,734,657
2018		1,242,462
Thereafter		124,853,986
Total		$	346,957,000
MBS TOB Trust 1, MBS TOB Trust 2 and TOB-Decatur Angle-TOB Trust were renewed for a six month term upon Maturity in October 2014. MBS TOB Trust 5 and MBS TOB Trust 6 were collapsed in October 2014 (Note 18). The Company expects to renew each TOB financing facility maturing in 2014 for another six month term as it has the discretion to renew for six month periods per the terms of the agreement with DB.

Mortgages_Payable

Mortgages Payable	9 Months Ended
	Sep. 30, 2014
Mortgages Payable [Abstract]	'
Mortgage Notes Payable Disclosure [Text Block]	'
	Mortgages Payable
	The Company reports the mortgage loans secured by certain MF Properties on its consolidated financial statements as Mortgages payable.  As of September 30, 2014, outstanding mortgage loans totaled approximately $72.6 million.  As of December 31, 2013, outstanding mortgage loans totaled approximately $57.1 million.
	In April 2014, the Company paid off in full the approximately $1.9 million mortgage which was collateralized by the Glynn Place Apartments, an MF Property.
	In September 2013, the Partnership executed a $7.0 million promissory note related to the Woodland Park property. This promissory note carries a fixed interest rate of approximately 2.8% per annum plus 30-day London Interbank Offered Rate ("LIBOR") which was approximately 0.2%, resulting in approximately 3.0% on the closing date. The Partnership has borrowed approximately $6.0 million as of September 30, 2014.
	In April 2013, the Company executed an interest-only loan to borrow up to $25.5 million for a three year term at a variable interest rate secured by the student housing complex in Lincoln, Nebraska. As of September 30, 2014, the Company has borrowed approximately $25.5 million which requires principal payments beginning on April 1, 2016 and carries a maturity date of April 1, 2020 (Note 7). The Company also secured a $4.3 million tax-incremental financing loan which is for a term of five years, carries a fixed interest rate of approximately 4.7% per annum, requires principal payments commencing after 24 months and has a balloon payment due at maturity.
	In February 2013, the Partnership obtained a $7.5 million loan secured by The Colonial, (f/k/a Maples on 97th) property. This loan is with an unrelated third party and carries a fixed annual interest rate of approximately 3.6% per annum through June 30, 2013 switching to approximately 4.4% per annum beginning on July 1, 2013, maturing on February 10, 2016.
	The Company’s mortgages payable as of September 30, 2014 contractually mature over the next five years and thereafter as follows:
	2014	$	277,971
	2015	9,175,372
	2016	8,064,399
	2017	29,568,099
	2018	—
	Thereafter	25,500,001
	Total	$	72,585,842
	The Company has extended the mortgage on the Eagle Village and Woodland Park mortgages.

Transactions_with_Related_Part

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2014
Transactions with Related Parties [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	Transactions with Related Parties
	The general partner of the Partnership, 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 mortgage revenue bonds, taxable 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. For the three and nine months ended September 30, 2014 the Partnership paid or accrued administrative fees to AFCA 2 of approximately $536,000 and $1.5 million, respectively. For the three and nine months ended September 30, 2013 the Partnership paid or accrued administrative fees to AFCA 2 of approximately $388,000 and $1.1 million, respectively. In addition to the administrative fees paid directly by the Partnership, AFCA 2 receives administrative fees directly from the owners of properties financed by certain of the mortgage revenue bonds held by the Partnership.  These administrative fees also equal 0.45% per annum of the outstanding principal balance of these mortgage revenue bonds and totaled approximately $17,000 and $51,000 for the three and nine months ended September 30, 2014, respectively. For the three and nine months ended September 30, 2013, these fees totaled approximately $33,000 and $99,000, respectively.
	AFCA 2 earns mortgage placement fees in connection with the acquisition of certain mortgage revenue bonds.  These mortgage placement fees were paid by the owners of the respective properties and, accordingly, have not been reflected in the accompanying condensed consolidated financial statements because these properties are not considered VIEs.  During the three and nine months ended September 30, 2014 AFCA 2 earned mortgage placement fees of approximately $397,000 and $1.1 million, respectively. During the three and nine months ended September 30, 2013, AFCA 2 earned mortgage placement fees of approximately $338,000 and $1.2 million, respectively.
	An affiliate of AFCA 2, America First Properties Management Company, LLC (“Properties Management”) provided property management services for the eight MF Properties, the two Consolidated VIEs and six of the properties collateralized by the mortgage revenue bonds, earning management fees of approximately $315,000 and $948,000 for the three and nine months ended September 30, 2014, respectively. Properties Management provided property management services for eight MF Properties, the three VIEs, the six properties classified as discontinued operations and four of the properties collateralized by the mortgage revenue bonds, earning management fees of approximately $300,000 and $907,000 for the three and nine months ended September 30, 2013, respectively.  These property management fees are not Partnership expenses, but are paid in each case by the owner of the multifamily apartment property.  For properties owned by entities treated as Consolidated VIEs and for MF Properties, the property management fees are reflected as real estate operating expenses on the Company’s condensed consolidated financial statements.  The property management fees are paid out of the revenues generated by all properties financed by mortgage revenue bonds and taxable mortgages prior to the payment of debt service on the Partnership’s mortgage revenue bonds and taxable property loans.
	An affiliate of AFCA 2 acts as a origination advisor and consultant to the borrowers when mortgage revenue bonds and financing facilities are acquired by the Company. For the nine months ended September 30, 2014 and 2013, approximately $607,000 and $379,000, respectively, in origination fees were paid by the borrower of certain acquired bonds and have not been reflected in the accompanying consolidated financial statements. For the nine months ended September 30, 2014, approximately $1.1 million in consulting and origination fees were paid by the Company to this affiliate related to a mortgage revenue bond acquisition and the 2014 TEBS financing facility.
	The Partnership executed a Developer and Construction Management Agreement with two affiliates of AFCA 2 during the second quarter of 2013 in connection with the mixed-use development at the University of Nebraska - Lincoln, The 50/50 (Note 7). Under the terms of this agreement, these affiliates earned approximately $500,000 and $668,000 in the three and nine months ended September 30, 2014, respectively and approximately $588,000 in the first nine months of 2013.
	Two of the owners of the limited-purpose corporations which own two of the Consolidated VIEs held by the Company are employees of Burlington who are not involved in the operation or management of the Company and who are not executive officers or managers of Burlington.

Issuances_of_Additional_Benefi

Issuances of Additional Beneficial Certificate Units	9 Months Ended
	Sep. 30, 2014
Issuances of Additional Beneficial Unit Certificates [Abstract]	'
Unusual or Infrequent Items Disclosure [Text Block]	'
	Issuances of Additional Beneficial Unit Certificates
	In November 2013, a Registration Statement on Form S-3 was declared effective by the SEC under which the Partnership may offer up to $225.0 million of additional BUCs from time to time. In December 2013, the Partnership issued an additional 8,280,000 BUCs through an underwritten public offering at a public offering price of $6.25 per BUC pursuant to this new Registration Statement. Net proceeds realized by the Partnership from the issuance of these BUCs were approximately $48.2 million after payment of an underwriter’s discount and other offering costs of approximately $3.5 million. In January and February 2014, the Partnership issued an additional 9,200,000 BUCs through an underwritten public offering at a public offering price of $5.95 per BUC pursuant to this Registration Statement. Net proceeds realized by the Partnership from the issuance of these BUCs were approximately $51.3 million after payment of an underwriter’s discount and other offering costs of approximately $3.5 million.

Interest_Rate_Derivative_Agree

Interest Rate Derivative Agreements	9 Months Ended
	Sep. 30, 2014
Interest Rate Derivative Agreements [Abstract]	'
Derivative Instruments and Hedging Activities Disclosure [Text Block]	'
	Interest Rate Derivative Agreements
	As of September 30, 2014, the Company has nine derivative agreements in order to mitigate its exposure to increases in interest rates on its variable-rate debt financing. In addition, the Company entered into two interest rate swaps during the third quarter of 2014.
	The terms of the nine derivative agreements are as follows:
		Date Purchased	Notional Amount		Effective Capped Rate		Maturity Date	Purchase Price		Counterparty
		September 2, 2010	$	31,936,667	3	%	September 1, 2017	$	921,000	Bank of New York Mellon
		September 2, 2010	$	31,936,667	3	%	September 1, 2017	$	845,600	Barclays Bank PLC
		September 2, 2010	$	31,936,667	3	%	September 1, 2017	$	928,000	Royal Bank of Canada
		August 15, 2013	$	93,305,000	1.5	%	September 1, 2017	$	793,000	Deutsche Bank
		February 18, 2014	$	41,250,000	1	%	March 1, 2017	$	230,500	SMBC Capital Markets, Inc
		February 18, 2014	$	28,750,000	1	%	March 1, 2017	$	161,000	SMBC Capital Markets, Inc
		July 10, 2014	$	31,565,000	3	%	August 15, 2019	$	315,200	Barclays Bank PLC
		July 10, 2014	$	31,565,000	3	%	August 15, 2019	$	343,000	Royal Bank of Canada
		July 10, 2014	$	31,565,000	3	%	August 15, 2019	$	333,200	SMBC Capital Markets, Inc
	In July 2014, to mitigate its exposure to interest rate fluctuations on the variable rate 2014 TEBS financing, the Company entered into interest rate cap agreements with Barclays Bank PLC, the Royal Bank of Canada, and Sumitomo Mitsui Banking Corporation, each in an initial notional amount of approximately $31.6 million, which effectively limits the interest payable by the Company on the Class A 2014 TEBS Certificates to a fixed rate of 3.0% per annum on the combined notional amounts of the interest rate cap agreements through August 15, 2019. The interest rate cap contracts cost approximately $991,000 and do not qualify for hedge accounting. Therefore, changes in the estimated fair value of the interest rate derivatives are included in earnings.
	In February 2014, the Company entered into two interest rate cap agreements with SMBC Capital Markets, Inc. for a notional amount of $70.0 million with an effective start date of March 1, 2014. These agreements effectively limit the interest component of the TOB financing correlated with the SIFMA index to a maximum of 1.0% on $70.0 million of the outstanding borrowings on the MBS TOB financing facilities and the PHC Certificates TOB financing facilities through a three year term ending March 1, 2017. These interest rate cap contracts cost approximately $390,000 and do not qualify for hedge accounting. Therefore, changes in the estimated fair value of the interest rate derivatives are included in earnings.
	On July 30, 2013, the Company purchased an interest rate derivative with a notional amount of $93.3 million which represented the amount outstanding on the 2010 TEBS financing facility at August 1, 2013.  The maturity date of this interest rate derivative is September 1, 2017 and the effective capped interest rate is 1.5%.  On July 30, 2013, the Company also sold an interest rate derivative to the same counterparty which had the same notional amount of $93.3 million and an effective capped interest rate of 3.0%.  The total cost of these two interest rate derivatives was approximately $800,000 and the derivative contracts do not qualify for hedge accounting. Therefore, changes in the estimated fair value of the interest rate derivatives are included in earnings.  This interest rate corridor transaction effectively reduced the capped interest rate from 3.0% to 1.5% on the 2010 TEBS financing facility through the maturity date of the interest rate derivative contracts. In August 2013, the Company executed a master netting agreement with DB, which is the counterparty to these interest rate derivative contracts and is also the provider of the Company’s TOB financing facilities. The Company received $500,000 of cash collateral upon the execution of this master netting agreement. This $500,000 has been reported on a net basis against the cash collateral posted for the TOB financing facilities in the consolidated balance sheet as of September 30, 2014 and December 31, 2013.
	The Company contracted for two no-cost interest rate swaps with DB related to the Decatur Angle and Bruton TOB financing facilities collateralized by mortgage revenue bonds that are used to provide financing for the construction of these properties. The swap related to the Decatur Angle TOB financing facility has a $23.0 million notional value, an October 15, 2016 effective date, and an October 15, 2021 termination date. The swap related to the Bruton TOB financing facility has an approximate $18.1 million notional value, an April 15, 2017 effective date, and an April 15, 2022 termination date. Both swaps are in place to mitigate the possible interest rate increases and swaps a variable rate based on LIBOR for an approximate 2% fixed rate. As of September 30, 2014 the fair value of the Decatur Angle swap is an asset of approximately $4,000 and the fair value of the Bruton swap is a liability of approximately $1,700. The fair value of these swaps have been recorded in Other Assets.
	These interest rate derivatives do not qualify for hedge accounting and, accordingly, they are carried at fair value, with changes in fair value included in current period earnings within interest expense. The change in the fair value of these derivative contracts resulted in an increase in interest expense of approximately $154,000 and $764,000 for the three and nine months ended September 30, 2014, respectively. The change in the fair value of these derivative contracts resulted in a decrease in interest expense of approximately $440,000 and $304,000 for the three and nine months ended September 30, 2013, respectively. The valuation methodology used to estimate the fair value of the Company’s interest rate derivative agreements is disclosed in footnote 15.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2014
Fair Value Measurements [Abstract]	'
Fair Value Disclosures [Text Block]	'
	Fair Value Measurement
	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 as of 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 asset or liabilities.
	The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
	Following is a description of the valuation methodologies used for assets and liabilities measured at fair value.
	Investments in Mortgage Revenue Bonds.  The fair values of the Company’s investments in mortgage revenue bonds have each been based on a discounted cash flow or yield to maturity analysis. The Company uses this same valuation methodology to estimate the fair value adjustment for its mortgage bond purchase commitments. There is no active trading market for the mortgage revenue bonds and price quotes for the mortgage revenue bonds are not available.  If available, the General Partner may also consider price quotes on similar mortgage revenue bonds or other information from external sources, such as pricing services.  The estimates of the fair values of these mortgage revenue bonds, whether estimated by the Company or based on external sources, are based largely on unobservable inputs the General Partner believes would be used by market participants.  Additionally, the calculation methodology used by the external sources and the Company encompasses the use of judgment in its application. To validate changes in the fair value of the Company’s investments in mortgage revenue bonds between reporting periods, the General Partner looks at the key inputs such as changes in the current market yields on similar bonds as well as changes in the operating performance of the underlying property serving as collateral for each bond. The General Partner validates that the changes in the estimated fair value of the mortgage revenue bonds move with the changes in these monitored factors. Given these facts the fair value measurement of the Company’s investment in mortgage revenue bonds is categorized as a Level 3 input. There is also an approximately $2.6 million and $7.8 million estimated fair market value adjustment related to forward bond purchase commitments that are categorized as a Level 3 input which were recorded in other comprehensive income (loss) during the three and nine months ended September 30, 2014, respectively. The fair value of the bond purchase commitment is determined in the same manner as the mortgage revenue bonds.
	Investments in Public Housing Capital Fund Trust Certificates. The fair value of the Company’s investment in Public Housing Capital Fund Trust Certificates has been based on a yield to maturity analysis performed by the General Partner. There is no active trading market for the trusts’ certificates owned by the Company, but the General Partner will look at estimated values as determined by pricing services when available. The estimates of the fair values of these trusts’ certificates begin with the current market yield rate for a “AAA” rated tax-free municipal bond for a term consistent with the weighted-average life of each of the Public Housing Capital Fund trusts, adjusted largely for unobservable inputs the General Partner believes would be used by market participants. Additionally, the calculation methodology used by external pricing services and the Company encompasses the use of judgment in its application. The General Partner validates that the changes in the estimated fair value of Public Housing Capital Fund Trust Certificates move with the changes in the market yield rates of investment grade rated mortgage revenue municipal bonds with terms of similar length. Given these facts the fair value measurement of the Company’s investment in Public Housing Capital Fund Trust Certificates is categorized as a Level 3 input.
	Investments in Mortgage-Backed Securities. The fair value of the Company’s investment in mortgage-backed securities is based upon prices obtained from a third party pricing service, which are indicative of market activity. The valuation methodology of the Company’s third party pricing service incorporates commonly used market pricing methods, incorporates trading activity observed in the market place, and other data inputs. The methodology also considers the underlying characteristics of each security, which are also observable inputs, including: coupon; maturity date; loan age; reset date; collateral type; geography; and prepayment speeds. The General Partner analyzes pricing data received from the third party pricing service by comparing it to valuation information obtained from at least one other third party pricing service, ensuring they are within a tolerable range of difference which the Company estimates as 7.5%. The General Partner also looks at observations of trading activity in the market place when available. Given these facts, the fair value measurements of the Company’s investment in mortgage-backed securities are categorized as Level 2 inputs.
	Taxable Bonds. The fair values of the Company’s investments in taxable bonds have each been based on a discounted cash flow or yield to maturity analysis. There is no active trading market for the taxable bonds and price quotes are not available. The estimates of the fair values of these taxable bonds, whether estimated by the Company or based on external sources, are based largely on unobservable inputs the General Partner believes would be used by market participants.  Additionally, the calculation methodology used by the external sources and the Company encompasses the use of judgment in its application. To validate changes in the fair value of the Company’s investments in taxable bonds between reporting periods, management looks at the key inputs such as changes in the current market yields on similar bonds as well as changes in the operating performance of the underlying property serving as collateral for each bond. We validate that the changes in the estimated fair value of the taxable bonds move with the changes in these monitored factors. Given these facts the fair value measurement of the Company’s investment in taxable bonds is categorized as a Level 3 input.
	Interest Rate Derivatives.  The effect of the Company’s interest rate caps is to set a cap, or upper limit, on the base rate of interest paid on the Company’s variable rate debt equal to the notional amount of the derivative agreement.  The effect of the Company’s interest rate swap 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 interest rate derivatives are recorded at fair value with changes in fair value included in current period earnings within interest expense.  The fair value of the interest rate derivatives is based on a model whose inputs are not observable and therefore are categorized as a Level 3 input. The inputs in the valuation model include three-month LIBOR rates, unobservable adjustments to account for the SIFMA index, as well as any recent interest rate cap trades with similar terms.
	Assets and liabilities measured at fair value on a recurring basis are summarized below:
			Fair Value Measurements at September 30, 2014
	Description		Assets at Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	Assets
	Mortgage Revenue Bonds		$	404,789,122			$	—			$	—			$	404,789,122
	Bond Purchase Commitment		2,968,941				—				—				2,968,941
	Public Housing Capital Fund Trust Certificates		60,537,086				—				—				60,537,086
	MBS Investments		38,878,702				—				38,878,702				—
	Taxable Bonds		4,544,470				—				—				4,544,470
	Interest Rate Derivatives		1,507,302				—				—				1,507,302
	Total Assets at Fair Value		$	513,225,623			$	—			$	38,878,702			$	474,346,921
			For Three Months Ended September 30, 2014
			Fair Value Measurements Using Significant
			Unobservable Inputs (Level 3)
			Mortgage Revenue Bonds				Bond Purchase Commitment				Public Housing Capital Fund Trust Certificates				Taxable Bonds			Interest Rate Derivatives			Total
	Beginning Balance July 1, 2014		$	356,313,065			$	334,367			$	64,997,718			$	4,370,023		$	669,712		$	426,684,885
	Total gains (losses) (realized/unrealized)
	Included in earnings		—				—				—				—			(153,810		)	(153,810		)
	Included in other comprehensive income (loss)		17,464,986				2,634,574				(316,185		)		174,447			—			19,957,822
	Purchases		31,115,700				—				—				—			—			31,115,700
	Purchase interest rate derivatives		—				—				—				—			991,400			991,400
	Settlements		(104,629		)		—				(4,144,447		)		—			—			(4,249,076		)
	Ending Balance September 30, 2014		$	404,789,122			$	2,968,941			$	60,537,086			$	4,544,470		$	1,507,302		$	474,346,921
	Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2014		$	—			$	—			$	—			$	—		$	(153,810	)	$	(153,810	)
			For Nine Months Ended September 30, 2014
			Fair Value Measurements Using Significant
			Unobservable Inputs (Level 3)
			Mortgage Revenue Bonds				Bond Purchase Commitment				Public Housing Capital Fund Trust Certificates				Taxable Bonds			Interest Rate Derivatives			Total
	Beginning Balance January 1, 2014		$	285,318,171			$	(4,852,177	)		$	62,056,379			$	4,075,953		$	888,120		$	347,486,446
	Total gains (losses) (realized/unrealized)
	Included in earnings		—				—				—				—			(763,718		)	(763,718		)
	Included in other comprehensive income (loss)		42,498,644				7,821,118				4,480,249				543,517			—			55,343,528
	Purchases		107,770,827				—				—				—			—			107,770,827
	Purchase interest rate derivatives		—				—				—				—			1,382,900			1,382,900
	Mortgage revenue bond and MBS sales and redemption		(30,464,798		)		—				—				—			—			(30,464,798		)
	Settlements		(333,722		)		—				(5,999,542		)		(75,000		)	—			(6,408,264		)
	Ending Balance September 30, 2014		$	404,789,122			$	2,968,941			$	60,537,086			$	4,544,470		$	1,507,302		$	474,346,921
	Total amount of losses for the period included in earning attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2014		$	—			$	—			$	—			$	—		$	(763,718	)	$	(763,718	)
			Fair Value Measurements at December 31, 2013
	Description		Assets at Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	Assets
	Mortgage Revenue Bonds		$	285,318,171			$	—			$	—			$	285,318,171
	Bond Purchase Commitment		(4,852,177		)		—				—				(4,852,177		)
	Public Housing Capital Fund Trusts		62,056,379				—				—				62,056,379
	MBS Investments		37,845,661				—				37,845,661				—
	Taxable Bonds		4,075,953				—				—				4,075,953
	Interest Rate Derivatives		888,120				—				—				888,120
	Total Assets at Fair Value		$	385,332,107			$	—			$	37,845,661			$	347,486,446
		For Three Months Ended September 30, 2013
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		Mortgage Revenue Bonds				Public Housing Capital Fund Trust Certificates				Taxable Bonds				Interest Rate Derivatives			Total
Beginning Balance July 1, 2013		$	199,115,593			$	62,759,268			$	3,083,579			$	514,975		$	265,473,415
Total losses (realized/unrealized)
Included in earnings		—				—				—				(440,331		)	(440,331		)
Included in other comprehensive loss		(15,995,937		)		(951,622		)		(226,701		)		—			(17,174,260		)
Greens Property's bonds after sale recognition		9,465,000				—				—				—			9,465,000
Purchases		10,542,000				—				1,283,000				—			11,825,000
Purchase interest rate derivatives		—				—				—				792,999			792,999
Settlements		(50,776		)		(14,130		)		—				—			(64,906		)
Ending Balance September 30, 2013		$	203,075,880			$	61,793,516			$	4,139,878			$	867,643		$	269,876,917
Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2013		$	—			$	—			$	—			$	(440,331	)	$	(440,331	)
		For Nine Months Ended September 30, 2013
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		mortgage Revenue Bonds				Public Housing Capital Fund Trust Certificates				Taxable Bonds				Interest Rate Derivatives			Total
Beginning Balance January 1, 2013		$	145,237,376			$	65,389,298			$	1,524,873			$	378,729		$	212,530,276
Total losses (realized/unrealized)
Included in earnings		—				—				—				(304,085		)	(304,085		)
Included in other comprehensive income (loss)		(15,851,561		)		(3,553,392		)		(232,995		)		—			(19,637,948		)
Ohio Properties' bonds after sale recognition		19,581,166				—				—				—			19,581,166
Greens Property's bonds after sale recognition		9,465,000				—				—				—			9,465,000
Purchases		72,752,000				—				2,918,000				—			75,670,000
Purchase interest rate derivatives		—				—				—				792,999			792,999
Mortgage revenue bond redemption		(16,052,849		)		—				—				—			(16,052,849		)
Mortgage revenue bond foreclosure		(11,581,266		)		—				—				—			(11,581,266		)
Settlements		(473,986		)		(42,390		)		(70,000		)		—			(586,376		)
Ending Balance September 30, 2013		$	203,075,880			$	61,793,516			$	4,139,878			$	867,643		$	269,876,917
Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2013		$	—			$	—			$	—			$	(304,085	)	$	(304,085	)
Gains and losses included in earnings for the period shown above are included in interest expense.
The Company calculates a fair value of each financial instrument using a discounted cash flow model based on the debt amortization schedules at the effective rate of interest for each period represented. This estimate of fair value is based on Level 3 inputs. The table below represents the fair value of the debt held on the balance sheet for September 30, 2014 and December 31, 2013, respectively.
	30-Sep-14								31-Dec-13
	Carrying Amount				Fair Value				Carrying Amount				Fair Value
Financial Liabilities:
Debt financing	$	346,957,000			$	346,193,323			$	257,274,000			$	258,639,691
Mortgages payable	$	72,585,842			$	71,348,283			$	57,087,320			$	58,117,798

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Commitments and Contingencies
	The Company, from time to time, may be 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, the estimated amount of the loss is accrued in the consolidated financial statements. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not have a material effect on the Company’s consolidated financial statements.
	Certain of the MF Properties own apartment properties that generated LIHTCs for the previous partners in these partnerships.  In connection with the acquisition of partnership interests in these partnerships by subsidiaries of the Company, the Company has agreed to reimburse the prior partners for any liabilities they incur due to recapture of these tax credits to the extent the recapture liability is due to the operation of the properties in a manner inconsistent with the laws and regulations relating to such tax credits after the date of acquisition. No amount has been accrued for this contingent liability because management believes that the likelihood of any payments being required thereunder is remote.
	On July 2, 2014, the Partnership entered into a Bond Purchase Commitment agreeing to purchase up to approximately $9.9 million new mortgage revenue bond secured by a multifamily property under construction in Vancouver, Washington. The mortgage revenue bond will have a stated annual interest rate of 6.25% and bond proceeds must be used to pay off the third party construction loan. The Partnership accounts for the Bond Purchase Commitment as an available-for-sale security and records any changes in estimated fair value of the Bond Purchase Commitment as an asset or liability with changes in such valuation recorded in other comprehensive income. At September 30, 2014, the Partnership has estimated the value of this Bond Purchase Commitment and recorded in other assets an asset of approximately $588,000.
	The Company provided a guarantee on the $2.8 million mortgage secured by the Abbington at Stones River, a 96 unit multifamily property located in Tennessee, in addition to providing the approximately $1.6 million taxable property loan to Foundation for Affordable Housing, the not-for-profit owner of the property. Based on the historical financial performance of the property and its estimated fair value, the Company estimates there is no value to record for this mortgage guarantee.
	In connection with the sale of the Greens Property, the Company entered into guarantee agreements with the BC Partners under which the Company has guaranteed certain obligations of the general partner of the Greens of Pine Glen limited partnership, including an obligation to repurchase the interests of the BC Partners if certain “repurchase events” occur. A repurchase event is defined as any one of a number of events mainly focused on the completion of the property rehabilitation, property rent stabilization, the delivery of LIHTCs, tax credit recapture and foreclosure. No amount has been accrued for this contingent liability because the likelihood of a repurchase event is remote. The maximum exposure to the Company at September 30, 2014, under the guarantee provision of the repurchase clause is approximately $1.3 million which represents 75% of the equity contributed by BC Partners to date.
	In connection with the Ohio Properties transaction in 2011, the Company entered into guarantee agreements with the BC Partners under which the Company has guaranteed certain obligations of the general partner of these limited partnerships, including an obligation to repurchase the interests of the BC Partners if certain “repurchase events” occur. A repurchase event is defined as any one of a number of events mainly focused on the completion of the property rehabilitation, property rent stabilization, the delivery of LIHTCs, tax credit recapture and foreclosure. Even if a repurchase event should occur, 25% of the BC equity would remain in the Ohio Properties and thus BC, a third party, would have sufficient equity in the Ohio Properties for the Company to recognize the sale discussed in Note 9. No amount has been accrued for this contingent liability because the likelihood of a repurchase event is remote. The maximum exposure to the Company at September 30, 2014, under the guarantee provision of the repurchase clause is approximately $4.9 million which represents 75% of the equity contributed by BC Partners.
	In June 2013, the Partnership executed a Bond Purchase Commitment agreeing to purchase an $8.0 million new mortgage revenue bond and a $500,000 taxable bond both secured by Silver Moon, a multifamily property under construction in Albuquerque, New Mexico. The mortgage revenue bond will have a stated annual interest rate of 6.0% per annum, the taxable bond will have a stated rate of 12.0% per annum, and bond proceeds must be used to pay off the third party construction loan. The Partnership accounts for the Bond Purchase Commitment as an available-for-sale security and, as such, records the change in estimated fair value of the Bond Purchase Commitment as an asset or liability with changes in such valuation recorded in other comprehensive income.  As of September 30, 2014, the Partnership has estimated the value of this Bond Purchase Commitment and recorded in other assets an asset of approximately $246,000.
	The Partnership has also executed a Guarantee Agreement with the construction lender for Silver Moon. The terms of the Guarantee Agreement require the Partnership to guarantee that all construction costs are paid when due and pay any remaining outstanding principal and unpaid interest on the construction loan on or before July 1, 2015. Construction is expected to be completed in the first quarter of 2015 when the Partnership anticipates purchasing the mortgage revenue bond and taxable bond. No amounts have been accrued for this Guarantee Agreement as the Partnership expects that the construction loan will be sufficient to pay all costs during the construction period and that the proceeds from the mortgage revenue bond, taxable bond, and third party equity contribution to be sufficient to pay off all outstanding principal and interest on the construction loan on or before July 1, 2015.
	As the holder of residual interests issued in connection with its TEBS and TOB bond financing arrangements, the Partnership is required to guarantee certain losses that can be incurred by the trusts created in connection with these financings. These guarantees may result from a downgrade in the investment rating of mortgage revenue bonds held by the trust or of the senior securities issued by the trust, a ratings downgrade of the liquidity provider for the trust, 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 trust. In each of these cases, the trust will be collapsed. If the proceeds from the sale of the trust collateral are not sufficient to pay the principal amount of the senior securities with accrued interest and the other expenses of the trusts, the Partnership will be required to fund any such shortfall pursuant to its guarantee.

Segment_Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	Segment Reporting
	The Company consists of five reportable segments, Mortgage Revenue Bond Investments, MF Properties, Public Housing Capital Fund Trusts, MBS Investments, and Consolidated VIEs.  In addition to the five reportable segments, the Company also separately reports its consolidation and elimination information because it does not allocate certain items to the segments.
	Mortgage Revenue Bond Investments Segment
	The Mortgage Revenue Bond Investments segment consists of the Company’s portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing of multifamily residential apartments.  Such mortgage revenue bonds are held as long-term investments.  As of September 30, 2014, the Company held forty-four mortgage revenue bonds not associated with Consolidated VIEs and two mortgage revenue bonds associated with Consolidated VIEs which are bonds that are eliminated in consolidation on the Company’s financial statements. The multifamily apartment properties financed by the forty-three mortgage revenue bonds contain a total of 5,860 rental units. Three of the bonds’ properties are not operational and are under construction (Note 4).
	MF Properties Segment
	The MF Properties segment consists of indirect equity interests in multifamily apartment properties which are not currently financed by mortgage revenue bonds held by the Partnership but which the Partnership eventually intends to finance by such bonds through a restructuring.  In connection with any such restructuring, the Partnership will be required to dispose of any equity interest held in such MF Properties.  The Partnership’s interests in its current MF Properties are not currently classified as Assets held for sale because the Partnership is not actively marketing them for sale, there is no definitive purchase agreement in existence that, under current guidance, can be recognized as a sale of real estate assets and, therefore, no sale is expected in the next twelve months. During the time the Partnership holds an interest in an MF Property, any net rental income generated by the MF Properties in excess of debt service will be available for distribution to the Partnership in accordance with its interest in the MF Property.  Any such cash distribution will contribute to the Partnership’s CAD.  As of September 30, 2014, the Company consolidated the results of nine MF Properties containing a total of 2,233 rental units including the student housing complex in Lincoln, Nebraska that began leasing in August 2014 (Note 7).
	Other Investments
	The Partnership Agreement authorizes the Company to make investments other than in mortgage revenue bonds provided that these other investments are rated in one of the four highest rating categories by a national securities rating agency and do not constitute more than 25% of the Company’s assets at the time of acquisition as required under the Agreement of Limited Partnership. 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 Company currently owns other investments, PHC Certificates and MBS, which are reported as two separate segments. The PHC Trusts segment consists of the assets, liabilities, and related income and expenses of the PHC Trusts. The Partnership consolidates the PHC Trusts due to ownership of the LIFERS issued by the three PHC Trusts, which hold custodial receipts evidencing loans made to a number of local public housing authorities. Principal and interest on these loans are payable by the respective public housing authorities out of annual appropriations to be made to the public housing authorities by the HUD. This investment was acquired in July 2012. The MBS segment consists of the assets, liabilities, and related income and expenses of the MBS TOB Trusts that the Company consolidated due to its ownership of the LIFERs issued by the MBS TOB Trusts. These MBS TOB Trusts are securitizations of state-issued mortgage-backed securities which are backed by residential mortgage loans. These investments were acquired during the fourth quarter of 2012 through the second quarter of 2013 (Note 6).
	The Consolidated VIE Segment
	The Consolidated VIE segment consists of multifamily apartment properties which are financed with mortgage revenue bonds held by the Partnership, the assets, liabilities and operating results of which are consolidated with those of the Partnership as a result of consolidation guidance.  The mortgage revenue bonds on these Consolidated VIE properties are eliminated from the Company’s financial statements as a result of such consolidation, however, such bonds are held as long-term investments by the Partnership which continues to be entitled to receive principal and interest payments on such bonds.  The Company does not actually own an equity position in the Consolidated VIEs or their underlying properties.  As of September 30, 2014, the Company consolidated two VIEs containing a total 410 units (Note 3).
	Management closely monitors and evaluates the financial reporting associated with and the operations of the Consolidated VIEs and the MF Properties and performs such evaluation separately from the other operations of the Partnership through interaction with the affiliated property management company which manages the multifamily apartment properties held by the Consolidated VIEs and the MF Properties.
	Management’s goals with respect to the properties constituting the Company’s Consolidated VIE and MF Properties reportable segments is to generate increasing amounts of net rental income from these properties that will allow them to (i) make all payments of base interest, and possibly pay contingent interest, on the properties included in the Mortgage Revenue Bond Investments segment and the Consolidated VIE segment, and (ii) distribute net rental income to the Partnership from the MF Properties segment until such properties can be refinanced with additional mortgage revenue bonds meeting the Partnership’s investment criteria.  In order to achieve these goals, management of these multifamily apartment properties is focused on: (i) maintaining high economic occupancy and increasing rental rates through effective leasing, reduced turnover rates and providing quality maintenance and services to maximize resident satisfaction; (ii) managing operating expenses and achieving cost reductions through operating efficiencies and economies of scale generally inherent in the management of a portfolio of multiple properties; and (iii) emphasizing regular programs of repairs, maintenance and property improvements to enhance the competitive advantage and value of its properties in their respective market areas.
	The following table details certain key financial information for the Company’s reportable segments for the three and nine months ended September 30, 2014 and 2013:
		For the Three Months Ended,						For the Nine Months Ended,
		September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
	Total revenues
	Mortgage Revenue Bond Investments	$	6,488,107		$	4,599,998		$	21,142,200		$	23,371,043
	MF Properties	3,675,140			3,074,115			9,959,704			8,325,594
	Public Housing Capital Fund Trust Certificates	734,110			814,946			2,311,112			2,445,259
	Mortgage-Backed Securities	378,202			425,499			1,195,880			1,178,664
	Consolidated VIEs	799,411			1,225,261			2,385,835			3,658,636
	Consolidation/eliminations	(232,022		)	(375,642		)	(697,964		)	(1,130,027		)
	Total revenues	$	11,842,948		$	9,764,177		$	36,296,767		$	37,849,169
	Interest expense
	Mortgage Revenue Bond Investments	$	1,612,293		$	1,307,397		$	4,253,997		$	2,426,721
	MF Properties	603,714			550,755			1,627,264			1,574,544
	Public Housing Capital Fund Trust Certificates	316,561			345,547			988,958			945,140
	Mortgage-Backed Securities	101,324			121,673			334,073			341,589
	Consolidated VIEs	565,444			832,719			1,684,636			2,477,348
	Consolidation/eliminations	(565,444		)	(832,719		)	(1,684,636		)	(2,477,348		)
	Total interest expense	$	2,633,892		$	2,325,372		$	7,204,292		$	5,287,994
	Depreciation expense
	Mortgage Revenue Bond Investments	$	—		$	—		$	—		$	—
	MF Properties	1,277,548			1,019,947			3,324,026			2,781,678
	Public Housing Capital Fund Trust Certificates	—			—			—			—
	Mortgage-Backed Securities	—			—			—			—
	Consolidated VIEs	235,774			354,756			702,053			1,048,210
	Consolidation/eliminations	—			—			—			—
	Total depreciation expense	$	1,513,322		$	1,374,703		$	4,026,079		$	3,829,888
	Income (loss) from continuing operations
	Mortgage Revenue Bond Investments	$	3,116,090		$	2,066,800		$	12,031,064		$	12,333,200
	MF Properties	(333,452		)	(478,460		)	(761,723		)	(1,205,151		)
	Public Housing Capital Fund Trust Certificates	410,396			462,245			1,300,694			1,478,659
	Mortgage-Backed Securities	276,878			276,968			859,139			764,120
	Consolidated VIEs	(505,338		)	(786,542		)	(1,426,463		)	(2,241,493		)
	Consolidation/eliminations	340,106			467,837			1,006,778			1,379,690
	Income - America First Multifamily Investors, L. P.	$	3,304,680		$	2,008,848		$	13,009,489		$	12,509,025
	Net income (loss)
	Mortgage Revenue Bond Investments	$	3,116,090		$	2,066,800		$	12,031,064		$	12,333,200
	MF Properties	(330,303		)	923,951			(758,097		)	1,973,669
	Public Housing Capital Fund Trust Certificates	410,396			462,245			1,300,694			1,478,659
	Mortgage-Backed Securities	276,878			276,968			859,139			764,120
	Consolidated VIEs	(505,338		)	(786,542		)	(1,426,463		)	(2,241,493		)
	Consolidation/eliminations	340,106			467,837			1,006,778			1,379,690
	Net income - America First Multifamily Investors, L. P.	$	3,307,829		$	3,411,259		$	13,013,115		$	15,687,845
	The following table details certain key financial information for the Company’s reportable segments as of September 30, 2014 and December 31, 2013:
		30-Sep-14			31-Dec-13
	Total assets
	Mortgage Revenue Bond Investments	$	675,317,067		$	442,175,645
	MF Properties	101,808,642			83,580,479
	Public Housing Capital Fund Trusts	60,990,478			62,449,028
	Mortgage-Backed Securities	39,438,966			38,427,654
	Consolidated VIEs	13,625,661			14,019,837
Consolidation/eliminations	(155,172,941		)	(106,419,611		)
Total assets	$	736,007,873		$	534,233,032
Total partners’ capital
Mortgage Revenue Bond Investments	$	350,718,351		$	231,042,138
MF Properties	19,616,237			23,107,538
Public Housing Capital Fund Trusts	16,214,975			13,336,761
Mortgage-Backed Securities	8,286,132			4,397,356
Consolidated VIEs	(22,938,239		)	(21,511,776		)
Consolidation/eliminations	(70,426,508		)	(47,237,930		)
Total partners’ capital	$	301,470,948		$	203,134,087

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements (Notes)	9 Months Ended
	Sep. 30, 2014
Recent Accounting Pronouncements [Abstract]	'
Description of New Accounting Pronouncements Adopted and Not yet Adopted [Text Block]	'
	Recently Issued Accounting Pronouncements
	In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ASU No. 2014-15, “Presentation of Financial Statements-Going Concern”.   ASU 2014-15 is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The amendments in this ASU are effective for reporting periods beginning after December 15, 2016, with early adoption permitted. Management is currently assessing the impact the adoption of ASU 2014-15 will have on our Consolidated Financial Statements.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (ASU 2014-09), Revenue from Contracts with Customers (Topic 606). ASU 2014-09 supersedes the revenue recognition guidance in Topic 605, Revenue Recognition. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in the exchange for those goods or services. This standard is effective for annual reporting periods beginning after December 15, 2016. The Partnership is still evaluating the impact of this pronouncement on the consolidated financial statements.
	In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU 2014-08 raises the threshold for disposals to qualify as discontinued operations. It also requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. The ASU is effective for fiscal years beginning after December 15, 2014, and interim periods within those years.  The Partnership is still evaluating the impact of this pronouncement on the consolidated financial statements.

Subsequent_Events_Notes

Subsequent Events (Notes)	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	Subsequent Events
	In October 2014, the Company acquired at 99% of par, two mortgage revenue bonds, one with a par value of $10.0 million with a stated interest rate of approximately 5.3% and one with a par value of $10.0 million with a stated interest rate of approximately 6.0%, maturing on May 1, 2025 and May 1, 2034, respectively. These mortgage revenue bonds are secured by ground, facility, and equipment at the Provision Center for Proton Therapy, an ancillary health care facility providing cutting edge proton therapy treatment to cancer patients in Knoxville, Tennessee. The Company simultaneously executed two new TOB Trusts under its credit facility with DB securitizing this transaction, borrowing approximately $18.0 million at a fixed rate of approximately 4.0% per annum which will mature in July 2017. Pursuant to the terms of this TOB trust the Partnership is required to reimburse DB for any shortfall realized on the contractual cash flows on the SPEARS.
	In October 2014, the Company purchased land in St. Petersburg, Florida for approximately $2.7 million plus pre-development costs of approximately $279,000. The Company plans to sell this property to a not-for-profit prior to any further construct into a LIHTC property.
	In October 2014, the Company sold a portion of the MBS TOB Trusts for an amount approximating the outstanding amortized cost. The approximate $24.4 million par value of the MBS had been acquired for approximately $24.6 million in the fourth quarter of 2012 first half of 2013. The Company then collapsed the related MBS - TOB Trust 4 for approximately $6.0 million, MBS - TOB Trust 5 for approximately $5.3 million and MBS - TOB Trust 6 for approximately $7.8 million securitizing the related MBS. The Company’s approximate $19.1 million TOB financing facilities, which were the securitization of this MBS TOB Trusts, were paid off in full in connection with this sale (Notes 6 and 10).

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2014
Variable Interest Entities [Abstract]	'
Variable Interest Entity, Classification of Carrying Amount, Assets [Table Text Block]	'
	The following table presents information regarding the carrying value and classification of the assets held by the Partnership as of September 30, 2014 which constitute a variable interest in Ashley Square, Bruton Apartments, and Cross Creek.
		Balance Sheet Classification		Carrying Value				Maximum Exposure to Loss
	Ashley Square Apartments
	Mortgage Revenue Bond	Bond Investment		$	5,583,142			$	5,174,000
	Taxable Property Loan	Other Asset		1,482,000				7,392,872
				$	7,065,142			$	12,566,872
	Bruton Apartments
	Mortgage Revenue Bond	Bond Investment		$	19,295,756			$	18,145,000
	Cross Creek Apartments
	Mortgage Revenue Bond	Bond Investment		$	8,347,096			$	6,067,212
	Taxable Property Loans	Other Asset		3,498,615				3,498,615
				$	11,845,711			$	9,565,827
Schedule of Condensed Income Statement [Table Text Block]	'
	Condensed Consolidating Statements of Operations for the three and nine months ended Septebmer 30, 2014 and 2013:
		Partnership For the Three Months Ended September 30, 2014				Consolidated VIEs For the Three Months Ended September 30, 2014				Consolidation -Elimination For the Three Months Ended September 30, 2014				Total For the Three Months Ended September 30, 2014
	Revenues:
	Property revenues	$	3,675,140			$	799,411			$	—			$	4,474,551
	Investment income	7,190,345				—				(232,022		)		6,958,323
	Other interest income	222,074				—				—				222,074
	Other income	188,000				—				—				188,000
	Total revenues	11,275,559				799,411				(232,022		)		11,842,948
	Expenses:
	Real estate operating (exclusive of items shown below)	2,091,707				498,895				—				2,590,602
	Provision for loan loss	75,000				—				—				75,000
	Depreciation and amortization	1,595,360				240,410				(6,684		)		1,829,086
	Interest	2,633,892				565,444				(565,444		)		2,633,892
	General and administrative	1,409,688				—				—				1,409,688
	Total expenses	7,805,647				1,304,749				(572,128		)		8,538,268
	Net income (loss)	3,469,912				(505,338		)		340,106				3,304,680
	Net loss attributable to noncontrolling interest	(3,149		)		—				—				(3,149		)
	Net income (loss) - America First Multifamily Investors, L. P.	$	3,473,061			$	(505,338	)		$	340,106			$	3,307,829
		Partnership For the Three Months Ended September 30, 2013				Consolidated VIEs For the Three Months Ended September 30, 2013				Consolidation -Elimination For the Three Months Ended September 30, 2013				Total For the Three Months Ended September 30, 2013
	Revenues:
	Property revenues	$	3,074,115			$	1,225,261			$	—			$	4,299,376
	Investment income	5,623,450				—				(375,642		)		5,247,808
	Other interest income	216,993				—				—				216,993
	Total revenues	8,914,558				1,225,261				(375,642		)		9,764,177
	Expenses:
	Real estate operating (exclusive of items shown below)	1,794,008				815,947				—				2,609,955
	Provision for loan loss	72,000				—				—				72,000
	Depreciation and amortization	1,409,847				363,137				(10,760		)		1,762,224
	Interest	2,325,372				832,719				(832,719		)		2,325,372
	General and administrative	985,778				—				—				985,778
	Total expenses	6,587,005				2,011,803				(843,479		)		7,755,329
	Income (loss) from continuing operations	2,327,553				(786,542		)		467,837				2,008,848
	Income from discontinued operations (including gain on sale of MF Properties of $1,041,656)	1,342,498				—				—				1,342,498
	Net income (loss)	3,670,051				(786,542		)		467,837				3,351,346
	Net loss attributable to noncontrolling interest	(59,913		)		—				—				(59,913		)
	Net income (loss) - America First Multifamily Investors, L. P.	$	3,729,964			$	(786,542	)		$	467,837			$	3,411,259
		Partnership For the Nine Months Ended September 30, 2014				Consolidated VIEs For the Nine Months Ended September 30, 2014				Consolidation -Elimination For the Nine Months Ended September 30, 2014				Total For the Nine Months Ended September 30, 2014
	Revenues:
	Property revenues	$	9,959,704			$	2,385,835			$	—			$	12,345,539
	Mortgage revenue bond investment income	20,103,320				—				(697,964		)		19,405,356
	Gain on mortgage revenue bonds - sale and redemption	3,684,898				—				—				3,684,898
	Other interest income	672,974				—				—				672,974
	Other income	188,000				—				—				188,000
	Total revenues	34,608,896				2,385,835				(697,964		)		36,296,767
	Expenses:
	Real estate operating (exclusive of items shown below)	5,549,398				1,411,667				—				6,961,065
	Provision for loan loss	75,000				—				—				75,000
	Depreciation and amortization	4,271,539				715,995				(20,106		)		4,967,428
	Interest	7,204,292				1,684,636				(1,684,636		)		7,204,292
	General and administrative	4,079,493				—				—				4,079,493
	Total expenses	21,179,722				3,812,298				(1,704,742		)		23,287,278
	Net income (loss)	13,429,174				(1,426,463		)		1,006,778				13,009,489
	Net loss attributable to noncontrolling interest	(3,626		)		—				—				(3,626		)
	Net income (loss) - America First Multifamily Investors, L. P.	$	13,432,800			$	(1,426,463	)		$	1,006,778			$	13,013,115
		Partnership For the Nine Months Ended September 30, 2013				Consolidated VIEs For the Nine Months Ended September 30, 2013				Consolidation -Elimination For the Nine Months Ended September 30, 2013				Total For the Nine Months Ended September 30, 2013
	Revenues:
	Property revenues	$	8,325,593			$	3,658,636			$	—			$	11,984,229
	Investment income	18,689,649				—				(1,130,027		)		17,559,622
	Contingent interest income	6,497,160				—				—				6,497,160
	Other interest income	1,558,158				—				—				1,558,158
	Other income	250,000				—				—				250,000
	Total revenues	35,320,560				3,658,636				(1,130,027		)		37,849,169
	Expenses:
Real estate operating (exclusive of items shown below)	4,632,958				2,349,358				—				6,982,316
Realized loss on taxable property loan	4,557,741				—				—				4,557,741
Provision for loan loss	168,000				—				—				168,000
Provision for loss on receivables	241,698				—				—				241,698
Depreciation and amortization	3,963,628				1,073,423				(32,369		)		5,004,682
Interest	5,287,994				2,477,348				(2,477,348		)		5,287,994
General and administrative	3,097,713				—				—				3,097,713
Total expenses	21,949,732				5,900,129				(2,509,717		)		25,340,144
Income (loss) from continuing operations	13,370,828				(2,241,493		)		1,379,690				12,509,025
Income from discontinued operations (including gain on sale of MF Properties of $3,177,183)	3,442,404				—				—				3,442,404
Net income (loss)	16,813,232				(2,241,493		)		1,379,690				15,951,429
Net income attributable to noncontrolling interest	263,584				—				—				263,584
Net income (loss) - America First Multifamily Investors, L. P.	$	16,549,648			$	(2,241,493	)		$	1,379,690			$	15,687,845
The table below shows the pro forma condensed consolidated results of operations of the Company as if Woodland Park had been acquired at the beginning of the periods presented:
		For the Three Months Ended September 30, 2013				For the Nine Months Ended September 30, 2013
Revenues		$	9,764,177			$	38,129,451
Net income		3,411,259				15,688,415
Net income allocated to unitholders		3,356,268				15,156,732
Unitholders' interest in net income per unit (basic and diluted)		$	0.08			$	0.35
Schedule of Condensed Balance Sheet [Table Text Block]	'
	Condensed Consolidating Balance Sheets as of September 30, 2014 and December 31, 2013:
			Partnership as of September 30, 2014				Consolidated VIEs as of September 30, 2014				Consolidation -Elimination as of September 30, 2014				Total as of September 30, 2014
	Assets
	Cash and cash equivalents		$	64,462,931			$	48,745			$	—			$	64,511,676
	Restricted cash		10,405,986				702,019				—				11,108,005
	Interest receivable		5,846,747				—				(670,577		)		5,176,170
	Mortgage revenue bonds held in trust, at fair value		366,838,950				—				(15,898,239		)		350,940,711
	Mortgage revenue bonds, at fair value		53,848,411				—				—				53,848,411
	Public housing capital fund trusts, at fair value		60,537,086				—				—				60,537,086
	Mortgage-backed securities, at fair value		38,878,702				—				—				38,878,702
	Real estate assets:
	Land and improvements		9,246,792				1,836,400				—				11,083,192
	Buildings and improvements		110,347,211				21,131,794				—				131,479,005
	Real estate assets before accumulated depreciation		119,594,003				22,968,194				—				142,562,197
	Accumulated depreciation		(12,646,878		)		(10,416,221		)		—				(23,063,099		)
	Net real estate assets		106,947,125				12,551,973				—				119,499,098
	Other assets		42,146,347				322,924				(10,961,257		)		31,508,014
	Total Assets		$	749,912,285			$	13,625,661			$	(27,530,073	)		$	736,007,873
	Liabilities
	Accounts payable, accrued expenses and other liabilities		$	6,873,724			$	21,787,900			$	(21,260,285	)		$	7,401,339
	Distribution payable		7,607,692				—				—				7,607,692
	Debt financing		346,957,000				—				—				346,957,000
	Mortgages payable		72,585,842				14,776,000				(14,776,000		)		72,585,842
	Total Liabilities		434,024,258				36,563,900				(36,036,285		)		434,551,873
	Partners' Capital
	General Partner		491,349				—				—				491,349
	Beneficial Unit Certificate holders		315,411,626				—				6,443,554				321,855,180
	Unallocated deficit of Consolidated VIEs		—				(22,938,239		)		2,062,658				(20,875,581		)
	Total Partners' Capital		315,902,975				(22,938,239		)		8,506,212				301,470,948
	Noncontrolling interest		(14,948		)		—				—				(14,948		)
	Total Capital		315,888,027				(22,938,239		)		8,506,212				301,456,000
	Total Liabilities and Partners' Capital		$	749,912,285			$	13,625,661			$	(27,530,073	)		$	736,007,873
			Partnership as of December 31, 2013				Consolidated VIEs as of December 31, 2013				Consolidation -Elimination as of December 31, 2013				Total as of December 31, 2013
	Assets
	Cash and cash equivalents		$	11,292,039			$	25,976			$	—			$	11,318,015
	Restricted cash		6,344,666				500,877				—				6,845,543
	Interest receivable		5,281,398				—				(1,939,360		)		3,342,038
	Mortgage revenue bonds held in trust, at fair value		230,885,864				—				(14,514,063		)		216,371,801
	Mortgage revenue bonds, at fair value		68,946,370				—				—				68,946,370
	Public housing capital fund trusts, at fair value		62,056,379				—				—				62,056,379
	Mortgage-backed securities, at fair value		37,845,661				—				—				37,845,661
	Real estate assets:
	Land and improvements		9,245,592				1,836,400				—				11,081,992
	Buildings and improvements		90,253,256				20,942,439				—				111,195,695
	Real estate assets before accumulated depreciation		99,498,848				22,778,839				—				122,277,687
	Accumulated depreciation		(9,386,811		)		(9,741,942		)		—				(19,128,753		)
	Net real estate assets		90,112,037				13,036,897				—				103,148,934
	Other assets		33,488,744				456,087				(9,586,540		)		24,358,291
	Total Assets		$	546,253,158			$	14,019,837			$	(26,039,963	)		$	534,233,032
	Liabilities
	Accounts payable, accrued expenses and other liabilities		$	4,963,653			$	20,634,613			$	(20,147,572	)		$	5,450,694
	Distribution payable		6,446,076				—				—				6,446,076
	Debt financing		257,274,000				—				—				257,274,000
	Mortgages payable		57,087,320				14,897,000				(14,897,000		)		57,087,320
	Bond purchase commitment at fair value		4,852,177				—				—				4,852,177
	Total Liabilities		330,623,226				35,531,613				(35,044,572		)		331,110,267
	Partners' Capital
	General Partner		16,671				—				—				16,671
	Beneficial Unit Certificate holders		215,624,583				—				7,948,729				223,573,312
	Unallocated deficit of Consolidated VIEs		—				(21,511,776		)		1,055,880				(20,455,896		)
	Total Partners' Capital		215,641,254				(21,511,776		)		9,004,609				203,134,087
	Noncontrolling interest		(11,322		)		—				—				(11,322		)
	Total Capital		215,629,932				(21,511,776		)		9,004,609				203,122,765
Total Liabilities and Partners' Capital		$	546,253,158			$	14,019,837			$	(26,039,963	)		$	534,233,032
The Woodland Park property purchase price allocation is disclosed pursuant to the accounting guidance on business combinations. A condensed balance sheet at the date of acquisitions is included below.
		Woodland Park 5/29/2013 (Date of Acquisition)
Other current assets		$	201,321
In-place lease assets		403,216
Real estate assets		15,258,784
Total Assets		$	15,863,321
Accounts payable, accrued expenses and other		$	192,345
Net assets		15,670,976
Total liabilities and net assets		$	15,863,321

Investments_in_Mortgage_Revenu1

Investments in Mortgage Revenue Bonds (Tables)	9 Months Ended
	Sep. 30, 2014
Investments in Mortgage Revenue Bonds [Abstract]	'
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	'
		September 30, 2014
	Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs		Unrealized Gain			Unrealized Loss		Estimated Fair Value
	Arbors at Hickory Ridge (3)	11,572,252		1,530,105			—		13,102,357
	Ashley Square (1)	5,174,000		409,142			—		5,583,142
	Avistar at Chase Hill A Bond (3)	10,000,000		858,300			—		10,858,300
	Avistar at the Crest A Bond (3)	9,700,000		1,079,610			—		10,779,610
	Avistar at the Oaks A Bond (3)	7,800,000		416,832			—		8,216,832
	Avistar in 09 A Bond (3)	6,735,000		359,918			—		7,094,918
	Avistar on the Boulevard A Bond (3)	16,525,000		2,128,585			—		18,653,585
	Avistar on the Hills A Bond (3)	5,389,000		555,498			—		5,944,498
	Bella Vista (1)	6,490,000		425,095			—		6,915,095
	Bridle Ridge (1)	7,655,000		431,130			—		8,086,130
	Brookstone (1)	7,468,080		1,178,235			—		8,646,315
	Bruton Apartments (2)	18,145,000		1,150,756			—		19,295,756
	Copper Gate Apartments (3)	5,220,000		398,704			—		5,618,704
	Cross Creek (1)	6,067,212		2,279,884			—		8,347,096
	Decatur Angle (2)	23,000,000		543,260			—		23,543,260
	Greens Property A Bond (3)	8,384,000		794,798			—		9,178,798
	Harden Ranch A Bond (3)	6,960,000		364,286			—		7,324,286
	Lake Forest (1)	8,916,000		921,670			—		9,837,670
	Live 929 Apartments (2)	40,904,962		4,502,682			—		45,407,644
	Ohio Properties A Bonds (1)	14,431,000		1,759,179			—		16,190,179
	Runnymede (1)	10,485,000		1,064,647			—		11,549,647
	Southpark (1)	11,937,626		2,963,871			—		14,901,497
	The Palms at Premier Park Apartments (3)	20,152,000		2,339,849			—		22,491,849
	The Suites on Paseo (2)	35,750,000		2,656,940			—		38,406,940
	Tyler Park Apartments A Bond (3)	6,075,000		218,457			—		6,293,457
	Westside Village Market A Bond (3)	3,970,000		142,761			—		4,112,761
	Woodlynn Village (1)	4,408,000		152,385			—		4,560,385
	Mortgage revenue bonds held in trust	319,314,132		31,626,579			—		350,940,711
		30-Sep-14
	Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs			Unrealized Gain			Unrealized Loss			Estimated Fair Value
	Avistar at Chase Hill B Bond	$	965,000		$	70,995		$	—		$	1,035,995
	Avistar at the Crest B Bond	759,000			103,960			—			862,960
	Avistar at the Oaks B Bond	554,000			18,132			—			572,132
	Avistar in 09 B Bond	457,000			14,958			—			471,958
	Avistar on the Boulevard B Bond	451,000			55,820			—			506,820
	Greens Property B Bond	946,201			351,919			—			1,298,120
	Harden Ranch B Bond	2,340,000			—			(11,095		)	2,328,905
	Heritage Square	11,705,000			105,910			—			11,810,910
	Ohio Properties B Bonds	3,576,060			524,130			—			4,100,190
	Renaissance	12,675,000			924,570			—			13,599,570
	Tyler Park B Bond	2,025,000			—			(26,487		)	1,998,513
	Vantage at Harlingen	6,692,000			540,647			—			7,232,647
	Vantage at Judson	6,049,000			561,831			—			6,610,831
	Westside Village Market B Bond	1,430,000			—			(11,140		)	1,418,860
	Mortgage revenue bonds	$	50,624,261		$	3,272,872		$	(48,722	)	$	53,848,411
	(1) Bonds owned by ATAX TEBS I, LLC, Note 10
	(2) Bond held by Deutsche Bank in a secured financing transaction, Note 10
	(3) Bonds owned by ATAX TEBS II, LLC, Note 10
		31-Dec-13
	Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs			Unrealized Gains			Unrealized Loss			Estimated Fair Value
	Arbors at Hickory Ridge (2)	$	11,576,209		$	225,690		$	—		$	11,801,899
	Ashley Square (1)	5,212,000			—			—			5,212,000
	Autumn Pines (2)	12,147,873			—			(195,355		)	11,952,518
	Avistar at Chase Hill A Bond (2)	8,960,000			—			(850,752		)	8,109,248
	Avistar at the Crest A Bond (2)	8,759,000			—			(1,298,785		)	7,460,215
	Avistar at the Oaks (2)	8,354,000			—			(1,103,115		)	7,250,885
	Avistar in 09 (2)	7,192,000			—			(588,254		)	6,603,746
	Avistar on the Boulevard A Bond (2)	13,760,000			—			(1,306,512		)	12,453,488
	Avistar on the Hills (2)	5,389,000			—			(417,724		)	4,971,276
	Bella Vista (1)	6,545,000			—			(473,989		)	6,071,011
	Bridle Ridge (1)	7,715,000			—			(452,870		)	7,262,130
Brookstone (1)	7,463,641			841,751			—			8,305,392
Cross Creek (1)	6,042,297			1,480,266			—			7,522,563
Greens Property A Bond (2)	8,437,501			—			(577,426		)	7,860,075
Lake Forest (1)	8,997,000			—			(289,461		)	8,707,539
Lost Creek (1)	15,883,084			1,743,088			—			17,626,172
Ohio Properties A Bonds (1)	14,498,000			—			—			14,498,000
Runnymede (1)	10,525,000			—			(551,510		)	9,973,490
Southpark (1)	11,878,885			1,018,750			—			12,897,635
The Suites on Paseo (2)	35,750,000			—			(2,502		)	35,747,498
Woodlynn Village (1)	4,426,000			—			(340,979		)	4,085,021
Mortgage revenue bonds held in trust	$	219,511,490		$	5,309,545		$	(8,449,234	)	$	216,371,801
	31-Dec-13
Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs			Unrealized Gain			Unrealized Loss			Estimated Fair Value
Avistar at Chase Hill B Bond	$	2,005,000		$	—		$	(159,117	)	$	1,845,883
Avistar at the Crest B Bond	1,700,000			—			(134,912		)	1,565,088
Avistar on the Boulevard B Bond	3,216,000			—			(255,222		)	2,960,778
Copper Gate Apartments	5,220,000			—			(252,648		)	4,967,352
Greens Property B Bond	948,291			189,589			—			1,137,880
Ohio Properties B Bonds	3,583,590			150,864			—			3,734,454
Renaissance	7,975,000			—			(16,964		)	7,958,036
The Palms at Premier Park Apartments	20,152,000			—			(283,942		)	19,868,058
Tyler Park Apartments	8,100,000			—			(526,601		)	7,573,399
Vantage at Harlingen	6,692,000			—			(211,735		)	6,480,265
Vantage at Judson	6,049,000			—			(190,423		)	5,858,577
Westside Village	5,400,000			—			(403,400		)	4,996,600
Mortgage revenue bonds	$	71,040,881		$	340,453		$	(2,434,964	)	$	68,946,370
The carrying value of the Company’s MBS as of September 30, 2014 is as follows:
Agency Rating of MBS (1)	Cost adjusted for amortization of premium			Unrealized Gain			Unrealized Loss			Estimated Fair Value
“AAA”	$	23,159,665		$	—		$	(668,960	)	$	22,490,705
“AA”	16,847,868			—			(459,871		)	16,387,997
	$	40,007,533		$	—		$	(1,128,831	)	$	38,878,702
(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.
The carrying value of the Company’s MBS as of December 31, 2013 is as follows:
Agency Rating of MBS (1)	Cost adjusted for amortization of premium			Unrealized Gain			Unrealized Loss			Estimated Fair Value
“AAA”	$	23,177,115		$	—		$	(3,069,555	)	$	20,107,560
“AA”	20,624,701			—			(2,886,600		)	17,738,101
	$	43,801,816		$	—		$	(5,956,155	)	$	37,845,661
(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.

Public_Housing_Capital_Fund_Tr1

Public Housing Capital Fund Trusts Public Housing Capital Fund Trusts (Tables)	9 Months Ended
	Sep. 30, 2014
Public Housing Capital Fund Trusts [Abstract]	'
Marketable Securities [Table Text Block]	'
	The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts on September 30, 2014:
		Average Remaining Lives (Years)		Investment Rating	Weighted Average Interest Rate over Life			Principal Outstanding
	Public Housing Capital Fund Trust Certificate I	10.5		AA-	5.33	%		$	25,980,780
	Public Housing Capital Fund Trust Certificate II	9.97		A+	4.24	%		12,429,186
	Public Housing Capital Fund Trust Certificate III	11.06		BBB	5.41	%		20,898,432
	Total Public Housing Capital Fund Trust Certificates							$	59,308,398
	The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts on December 31, 2013:
		Average Remaining Lives (Years)		Investment Rating	Weighted Average Interest Rate over Life			Principal Outstanding
	Public Housing Capital Fund Trust Certificate I	12.75		AA-	5.33	%		$	26,406,558
	Public Housing Capital Fund Trust Certificate II	12.3		AA-	4.24	%		17,959,713
	Public Housing Capital Fund Trust Certificate III	13.3		BBB	5.41	%		20,898,432
	Total Public Housing Capital Fund Trust Certificates							$	65,264,703
	Description of certain terms of the Company’s MBS is as follows:
	Agency Rating of MBS	Principal Outstanding September 30, 2014			Weighted Average Maturity Date		Weighted Average Coupon Interest Rate
	“AAA”	$	22,710,000		October 7, 2036		4.05	%
	“AA”	16,440,000			January 30, 2038		4.11	%
		$	39,150,000
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	'
	Description of Public Housing Capital Fund Trust Certificates	Cost adjusted for amortization of premium and discounts			Unrealized Gain				Unrealized Loss			Estimated Fair Value
	Public Housing Capital Fund Trust I	$	27,449,012		$	590,745			$	—		$	28,039,757
	Public Housing Capital Fund Trust II	11,988,272			9,994				—			11,998,266
	Public Housing Capital Fund Trust III	20,464,287			34,776				—			20,499,063
		$	59,901,571		$	635,515			$	—		$	60,537,086
	The Company had the following investments in the PHC Certificates on December 31, 2013:
	Description of Public Housing Capital Fund Trust Certificates	Cost adjusted for amortization of premium and discounts			Unrealized Gain				Unrealized Loss			Estimated Fair Value
	Public Housing Capital Fund Trust Certificate I	$	27,979,527		$	—			$	(1,284,873	)	$	26,694,654
	Public Housing Capital Fund Trust Certificate II	17,486,739			—				(1,083,235		)	16,403,504
	Public Housing Capital Fund Trust Certificate III	20,434,848			—				(1,476,627		)	18,958,221
		$	65,901,114		$	—			$	(3,844,735	)	$	62,056,379

MortgageBacked_Securities_Tabl

Mortgage-Backed Securities (Tables)	9 Months Ended
	Sep. 30, 2014
Mortgage-Backed Securities [Abstract]	'
Marketable Securities [Table Text Block]	'
	The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts on September 30, 2014:
		Average Remaining Lives (Years)		Investment Rating		Weighted Average Interest Rate over Life			Principal Outstanding
	Public Housing Capital Fund Trust Certificate I	10.5		AA-		5.33	%		$	25,980,780
	Public Housing Capital Fund Trust Certificate II	9.97		A+		4.24	%		12,429,186
	Public Housing Capital Fund Trust Certificate III	11.06		BBB		5.41	%		20,898,432
	Total Public Housing Capital Fund Trust Certificates								$	59,308,398
	The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts on December 31, 2013:
		Average Remaining Lives (Years)		Investment Rating		Weighted Average Interest Rate over Life			Principal Outstanding
	Public Housing Capital Fund Trust Certificate I	12.75		AA-		5.33	%		$	26,406,558
	Public Housing Capital Fund Trust Certificate II	12.3		AA-		4.24	%		17,959,713
	Public Housing Capital Fund Trust Certificate III	13.3		BBB		5.41	%		20,898,432
	Total Public Housing Capital Fund Trust Certificates								$	65,264,703
	Description of certain terms of the Company’s MBS is as follows:
	Agency Rating of MBS	Principal Outstanding September 30, 2014				Weighted Average Maturity Date		Weighted Average Coupon Interest Rate
	“AAA”	$	22,710,000			October 7, 2036		4.05	%
	“AA”	16,440,000				January 30, 2038		4.11	%
		$	39,150,000
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	'
		September 30, 2014
	Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs			Unrealized Gain			Unrealized Loss			Estimated Fair Value
	Arbors at Hickory Ridge (3)	11,572,252			1,530,105			—			13,102,357
	Ashley Square (1)	5,174,000			409,142			—			5,583,142
	Avistar at Chase Hill A Bond (3)	10,000,000			858,300			—			10,858,300
	Avistar at the Crest A Bond (3)	9,700,000			1,079,610			—			10,779,610
	Avistar at the Oaks A Bond (3)	7,800,000			416,832			—			8,216,832
	Avistar in 09 A Bond (3)	6,735,000			359,918			—			7,094,918
	Avistar on the Boulevard A Bond (3)	16,525,000			2,128,585			—			18,653,585
	Avistar on the Hills A Bond (3)	5,389,000			555,498			—			5,944,498
	Bella Vista (1)	6,490,000			425,095			—			6,915,095
	Bridle Ridge (1)	7,655,000			431,130			—			8,086,130
	Brookstone (1)	7,468,080			1,178,235			—			8,646,315
	Bruton Apartments (2)	18,145,000			1,150,756			—			19,295,756
	Copper Gate Apartments (3)	5,220,000			398,704			—			5,618,704
	Cross Creek (1)	6,067,212			2,279,884			—			8,347,096
	Decatur Angle (2)	23,000,000			543,260			—			23,543,260
	Greens Property A Bond (3)	8,384,000			794,798			—			9,178,798
	Harden Ranch A Bond (3)	6,960,000			364,286			—			7,324,286
	Lake Forest (1)	8,916,000			921,670			—			9,837,670
	Live 929 Apartments (2)	40,904,962			4,502,682			—			45,407,644
	Ohio Properties A Bonds (1)	14,431,000			1,759,179			—			16,190,179
	Runnymede (1)	10,485,000			1,064,647			—			11,549,647
	Southpark (1)	11,937,626			2,963,871			—			14,901,497
	The Palms at Premier Park Apartments (3)	20,152,000			2,339,849			—			22,491,849
	The Suites on Paseo (2)	35,750,000			2,656,940			—			38,406,940
	Tyler Park Apartments A Bond (3)	6,075,000			218,457			—			6,293,457
	Westside Village Market A Bond (3)	3,970,000			142,761			—			4,112,761
	Woodlynn Village (1)	4,408,000			152,385			—			4,560,385
	Mortgage revenue bonds held in trust	319,314,132			31,626,579			—			350,940,711
		30-Sep-14
	Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs				Unrealized Gain				Unrealized Loss			Estimated Fair Value
	Avistar at Chase Hill B Bond	$	965,000			$	70,995			$	—		$	1,035,995
	Avistar at the Crest B Bond	759,000				103,960				—			862,960
	Avistar at the Oaks B Bond	554,000				18,132				—			572,132
	Avistar in 09 B Bond	457,000				14,958				—			471,958
	Avistar on the Boulevard B Bond	451,000				55,820				—			506,820
	Greens Property B Bond	946,201				351,919				—			1,298,120
	Harden Ranch B Bond	2,340,000				—				(11,095		)	2,328,905
	Heritage Square	11,705,000				105,910				—			11,810,910
	Ohio Properties B Bonds	3,576,060				524,130				—			4,100,190
	Renaissance	12,675,000				924,570				—			13,599,570
	Tyler Park B Bond	2,025,000				—				(26,487		)	1,998,513
	Vantage at Harlingen	6,692,000				540,647				—			7,232,647
	Vantage at Judson	6,049,000				561,831				—			6,610,831
	Westside Village Market B Bond	1,430,000				—				(11,140		)	1,418,860
	Mortgage revenue bonds	$	50,624,261			$	3,272,872			$	(48,722	)	$	53,848,411
	(1) Bonds owned by ATAX TEBS I, LLC, Note 10
	(2) Bond held by Deutsche Bank in a secured financing transaction, Note 10
	(3) Bonds owned by ATAX TEBS II, LLC, Note 10
		31-Dec-13
	Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs				Unrealized Gains				Unrealized Loss			Estimated Fair Value
	Arbors at Hickory Ridge (2)	$	11,576,209			$	225,690			$	—		$	11,801,899
	Ashley Square (1)	5,212,000				—				—			5,212,000
	Autumn Pines (2)	12,147,873				—				(195,355		)	11,952,518
	Avistar at Chase Hill A Bond (2)	8,960,000				—				(850,752		)	8,109,248
	Avistar at the Crest A Bond (2)	8,759,000				—				(1,298,785		)	7,460,215
	Avistar at the Oaks (2)	8,354,000				—				(1,103,115		)	7,250,885
	Avistar in 09 (2)	7,192,000				—				(588,254		)	6,603,746
	Avistar on the Boulevard A Bond (2)	13,760,000				—				(1,306,512		)	12,453,488
	Avistar on the Hills (2)	5,389,000				—				(417,724		)	4,971,276
	Bella Vista (1)	6,545,000				—				(473,989		)	6,071,011
	Bridle Ridge (1)	7,715,000				—				(452,870		)	7,262,130
Brookstone (1)	7,463,641				841,751				—			8,305,392
Cross Creek (1)	6,042,297				1,480,266				—			7,522,563
Greens Property A Bond (2)	8,437,501				—				(577,426		)	7,860,075
Lake Forest (1)	8,997,000				—				(289,461		)	8,707,539
Lost Creek (1)	15,883,084				1,743,088				—			17,626,172
Ohio Properties A Bonds (1)	14,498,000				—				—			14,498,000
Runnymede (1)	10,525,000				—				(551,510		)	9,973,490
Southpark (1)	11,878,885				1,018,750				—			12,897,635
The Suites on Paseo (2)	35,750,000				—				(2,502		)	35,747,498
Woodlynn Village (1)	4,426,000				—				(340,979		)	4,085,021
Mortgage revenue bonds held in trust	$	219,511,490			$	5,309,545			$	(8,449,234	)	$	216,371,801
	31-Dec-13
Description of Mortgage Revenue Bonds	Cost adjusted for pay-downs				Unrealized Gain				Unrealized Loss			Estimated Fair Value
Avistar at Chase Hill B Bond	$	2,005,000			$	—			$	(159,117	)	$	1,845,883
Avistar at the Crest B Bond	1,700,000				—				(134,912		)	1,565,088
Avistar on the Boulevard B Bond	3,216,000				—				(255,222		)	2,960,778
Copper Gate Apartments	5,220,000				—				(252,648		)	4,967,352
Greens Property B Bond	948,291				189,589				—			1,137,880
Ohio Properties B Bonds	3,583,590				150,864				—			3,734,454
Renaissance	7,975,000				—				(16,964		)	7,958,036
The Palms at Premier Park Apartments	20,152,000				—				(283,942		)	19,868,058
Tyler Park Apartments	8,100,000				—				(526,601		)	7,573,399
Vantage at Harlingen	6,692,000				—				(211,735		)	6,480,265
Vantage at Judson	6,049,000				—				(190,423		)	5,858,577
Westside Village	5,400,000				—				(403,400		)	4,996,600
Mortgage revenue bonds	$	71,040,881			$	340,453			$	(2,434,964	)	$	68,946,370
The carrying value of the Company’s MBS as of September 30, 2014 is as follows:
Agency Rating of MBS (1)	Cost adjusted for amortization of premium				Unrealized Gain				Unrealized Loss			Estimated Fair Value
“AAA”	$	23,159,665			$	—			$	(668,960	)	$	22,490,705
“AA”	16,847,868				—				(459,871		)	16,387,997
	$	40,007,533			$	—			$	(1,128,831	)	$	38,878,702
(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.
The carrying value of the Company’s MBS as of December 31, 2013 is as follows:
Agency Rating of MBS (1)	Cost adjusted for amortization of premium				Unrealized Gain				Unrealized Loss			Estimated Fair Value
“AAA”	$	23,177,115			$	—			$	(3,069,555	)	$	20,107,560
“AA”	20,624,701				—				(2,886,600		)	17,738,101
	$	43,801,816			$	—			$	(5,956,155	)	$	37,845,661
(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.

Real_Estate_Assets_Tables

Real Estate Assets (Tables)	9 Months Ended
	Sep. 30, 2014
Real Estate Assets [Abstract]	'
Schedule of Condensed Balance Sheet [Table Text Block]	'
	Condensed Consolidating Balance Sheets as of September 30, 2014 and December 31, 2013:
			Partnership as of September 30, 2014				Consolidated VIEs as of September 30, 2014				Consolidation -Elimination as of September 30, 2014				Total as of September 30, 2014
	Assets
	Cash and cash equivalents		$	64,462,931			$	48,745			$	—			$	64,511,676
	Restricted cash		10,405,986				702,019				—				11,108,005
	Interest receivable		5,846,747				—				(670,577		)		5,176,170
	Mortgage revenue bonds held in trust, at fair value		366,838,950				—				(15,898,239		)		350,940,711
	Mortgage revenue bonds, at fair value		53,848,411				—				—				53,848,411
	Public housing capital fund trusts, at fair value		60,537,086				—				—				60,537,086
	Mortgage-backed securities, at fair value		38,878,702				—				—				38,878,702
	Real estate assets:
	Land and improvements		9,246,792				1,836,400				—				11,083,192
	Buildings and improvements		110,347,211				21,131,794				—				131,479,005
	Real estate assets before accumulated depreciation		119,594,003				22,968,194				—				142,562,197
	Accumulated depreciation		(12,646,878		)		(10,416,221		)		—				(23,063,099		)
	Net real estate assets		106,947,125				12,551,973				—				119,499,098
	Other assets		42,146,347				322,924				(10,961,257		)		31,508,014
	Total Assets		$	749,912,285			$	13,625,661			$	(27,530,073	)		$	736,007,873
	Liabilities
	Accounts payable, accrued expenses and other liabilities		$	6,873,724			$	21,787,900			$	(21,260,285	)		$	7,401,339
	Distribution payable		7,607,692				—				—				7,607,692
	Debt financing		346,957,000				—				—				346,957,000
	Mortgages payable		72,585,842				14,776,000				(14,776,000		)		72,585,842
	Total Liabilities		434,024,258				36,563,900				(36,036,285		)		434,551,873
	Partners' Capital
	General Partner		491,349				—				—				491,349
	Beneficial Unit Certificate holders		315,411,626				—				6,443,554				321,855,180
	Unallocated deficit of Consolidated VIEs		—				(22,938,239		)		2,062,658				(20,875,581		)
	Total Partners' Capital		315,902,975				(22,938,239		)		8,506,212				301,470,948
	Noncontrolling interest		(14,948		)		—				—				(14,948		)
	Total Capital		315,888,027				(22,938,239		)		8,506,212				301,456,000
	Total Liabilities and Partners' Capital		$	749,912,285			$	13,625,661			$	(27,530,073	)		$	736,007,873
			Partnership as of December 31, 2013				Consolidated VIEs as of December 31, 2013				Consolidation -Elimination as of December 31, 2013				Total as of December 31, 2013
	Assets
	Cash and cash equivalents		$	11,292,039			$	25,976			$	—			$	11,318,015
	Restricted cash		6,344,666				500,877				—				6,845,543
	Interest receivable		5,281,398				—				(1,939,360		)		3,342,038
	Mortgage revenue bonds held in trust, at fair value		230,885,864				—				(14,514,063		)		216,371,801
	Mortgage revenue bonds, at fair value		68,946,370				—				—				68,946,370
	Public housing capital fund trusts, at fair value		62,056,379				—				—				62,056,379
	Mortgage-backed securities, at fair value		37,845,661				—				—				37,845,661
	Real estate assets:
	Land and improvements		9,245,592				1,836,400				—				11,081,992
	Buildings and improvements		90,253,256				20,942,439				—				111,195,695
	Real estate assets before accumulated depreciation		99,498,848				22,778,839				—				122,277,687
	Accumulated depreciation		(9,386,811		)		(9,741,942		)		—				(19,128,753		)
	Net real estate assets		90,112,037				13,036,897				—				103,148,934
	Other assets		33,488,744				456,087				(9,586,540		)		24,358,291
	Total Assets		$	546,253,158			$	14,019,837			$	(26,039,963	)		$	534,233,032
	Liabilities
	Accounts payable, accrued expenses and other liabilities		$	4,963,653			$	20,634,613			$	(20,147,572	)		$	5,450,694
	Distribution payable		6,446,076				—				—				6,446,076
	Debt financing		257,274,000				—				—				257,274,000
	Mortgages payable		57,087,320				14,897,000				(14,897,000		)		57,087,320
	Bond purchase commitment at fair value		4,852,177				—				—				4,852,177
	Total Liabilities		330,623,226				35,531,613				(35,044,572		)		331,110,267
	Partners' Capital
	General Partner		16,671				—				—				16,671
	Beneficial Unit Certificate holders		215,624,583				—				7,948,729				223,573,312
	Unallocated deficit of Consolidated VIEs		—				(21,511,776		)		1,055,880				(20,455,896		)
	Total Partners' Capital		215,641,254				(21,511,776		)		9,004,609				203,134,087
	Noncontrolling interest		(11,322		)		—				—				(11,322		)
	Total Capital		215,629,932				(21,511,776		)		9,004,609				203,122,765
Total Liabilities and Partners' Capital		$	546,253,158			$	14,019,837			$	(26,039,963	)		$	534,233,032
The Woodland Park property purchase price allocation is disclosed pursuant to the accounting guidance on business combinations. A condensed balance sheet at the date of acquisitions is included below.
		Woodland Park 5/29/2013 (Date of Acquisition)
Other current assets		$	201,321
In-place lease assets		403,216
Real estate assets		15,258,784
Total Assets		$	15,863,321
Accounts payable, accrued expenses and other		$	192,345
Net assets		15,670,976
Total liabilities and net assets		$	15,863,321
Schedule of Condensed Income Statement [Table Text Block]	'
	Condensed Consolidating Statements of Operations for the three and nine months ended Septebmer 30, 2014 and 2013:
		Partnership For the Three Months Ended September 30, 2014				Consolidated VIEs For the Three Months Ended September 30, 2014				Consolidation -Elimination For the Three Months Ended September 30, 2014				Total For the Three Months Ended September 30, 2014
	Revenues:
	Property revenues	$	3,675,140			$	799,411			$	—			$	4,474,551
	Investment income	7,190,345				—				(232,022		)		6,958,323
	Other interest income	222,074				—				—				222,074
	Other income	188,000				—				—				188,000
	Total revenues	11,275,559				799,411				(232,022		)		11,842,948
	Expenses:
	Real estate operating (exclusive of items shown below)	2,091,707				498,895				—				2,590,602
	Provision for loan loss	75,000				—				—				75,000
	Depreciation and amortization	1,595,360				240,410				(6,684		)		1,829,086
	Interest	2,633,892				565,444				(565,444		)		2,633,892
	General and administrative	1,409,688				—				—				1,409,688
	Total expenses	7,805,647				1,304,749				(572,128		)		8,538,268
	Net income (loss)	3,469,912				(505,338		)		340,106				3,304,680
	Net loss attributable to noncontrolling interest	(3,149		)		—				—				(3,149		)
	Net income (loss) - America First Multifamily Investors, L. P.	$	3,473,061			$	(505,338	)		$	340,106			$	3,307,829
		Partnership For the Three Months Ended September 30, 2013				Consolidated VIEs For the Three Months Ended September 30, 2013				Consolidation -Elimination For the Three Months Ended September 30, 2013				Total For the Three Months Ended September 30, 2013
	Revenues:
	Property revenues	$	3,074,115			$	1,225,261			$	—			$	4,299,376
	Investment income	5,623,450				—				(375,642		)		5,247,808
	Other interest income	216,993				—				—				216,993
	Total revenues	8,914,558				1,225,261				(375,642		)		9,764,177
	Expenses:
	Real estate operating (exclusive of items shown below)	1,794,008				815,947				—				2,609,955
	Provision for loan loss	72,000				—				—				72,000
	Depreciation and amortization	1,409,847				363,137				(10,760		)		1,762,224
	Interest	2,325,372				832,719				(832,719		)		2,325,372
	General and administrative	985,778				—				—				985,778
	Total expenses	6,587,005				2,011,803				(843,479		)		7,755,329
	Income (loss) from continuing operations	2,327,553				(786,542		)		467,837				2,008,848
	Income from discontinued operations (including gain on sale of MF Properties of $1,041,656)	1,342,498				—				—				1,342,498
	Net income (loss)	3,670,051				(786,542		)		467,837				3,351,346
	Net loss attributable to noncontrolling interest	(59,913		)		—				—				(59,913		)
	Net income (loss) - America First Multifamily Investors, L. P.	$	3,729,964			$	(786,542	)		$	467,837			$	3,411,259
		Partnership For the Nine Months Ended September 30, 2014				Consolidated VIEs For the Nine Months Ended September 30, 2014				Consolidation -Elimination For the Nine Months Ended September 30, 2014				Total For the Nine Months Ended September 30, 2014
	Revenues:
	Property revenues	$	9,959,704			$	2,385,835			$	—			$	12,345,539
	Mortgage revenue bond investment income	20,103,320				—				(697,964		)		19,405,356
	Gain on mortgage revenue bonds - sale and redemption	3,684,898				—				—				3,684,898
	Other interest income	672,974				—				—				672,974
	Other income	188,000				—				—				188,000
	Total revenues	34,608,896				2,385,835				(697,964		)		36,296,767
	Expenses:
	Real estate operating (exclusive of items shown below)	5,549,398				1,411,667				—				6,961,065
	Provision for loan loss	75,000				—				—				75,000
	Depreciation and amortization	4,271,539				715,995				(20,106		)		4,967,428
	Interest	7,204,292				1,684,636				(1,684,636		)		7,204,292
	General and administrative	4,079,493				—				—				4,079,493
	Total expenses	21,179,722				3,812,298				(1,704,742		)		23,287,278
	Net income (loss)	13,429,174				(1,426,463		)		1,006,778				13,009,489
	Net loss attributable to noncontrolling interest	(3,626		)		—				—				(3,626		)
	Net income (loss) - America First Multifamily Investors, L. P.	$	13,432,800			$	(1,426,463	)		$	1,006,778			$	13,013,115
		Partnership For the Nine Months Ended September 30, 2013				Consolidated VIEs For the Nine Months Ended September 30, 2013				Consolidation -Elimination For the Nine Months Ended September 30, 2013				Total For the Nine Months Ended September 30, 2013
	Revenues:
	Property revenues	$	8,325,593			$	3,658,636			$	—			$	11,984,229
	Investment income	18,689,649				—				(1,130,027		)		17,559,622
	Contingent interest income	6,497,160				—				—				6,497,160
	Other interest income	1,558,158				—				—				1,558,158
	Other income	250,000				—				—				250,000
	Total revenues	35,320,560				3,658,636				(1,130,027		)		37,849,169
	Expenses:
Real estate operating (exclusive of items shown below)	4,632,958				2,349,358				—				6,982,316
Realized loss on taxable property loan	4,557,741				—				—				4,557,741
Provision for loan loss	168,000				—				—				168,000
Provision for loss on receivables	241,698				—				—				241,698
Depreciation and amortization	3,963,628				1,073,423				(32,369		)		5,004,682
Interest	5,287,994				2,477,348				(2,477,348		)		5,287,994
General and administrative	3,097,713				—				—				3,097,713
Total expenses	21,949,732				5,900,129				(2,509,717		)		25,340,144
Income (loss) from continuing operations	13,370,828				(2,241,493		)		1,379,690				12,509,025
Income from discontinued operations (including gain on sale of MF Properties of $3,177,183)	3,442,404				—				—				3,442,404
Net income (loss)	16,813,232				(2,241,493		)		1,379,690				15,951,429
Net income attributable to noncontrolling interest	263,584				—				—				263,584
Net income (loss) - America First Multifamily Investors, L. P.	$	16,549,648			$	(2,241,493	)		$	1,379,690			$	15,687,845
The table below shows the pro forma condensed consolidated results of operations of the Company as if Woodland Park had been acquired at the beginning of the periods presented:
		For the Three Months Ended September 30, 2013				For the Nine Months Ended September 30, 2013
Revenues		$	9,764,177			$	38,129,451
Net income		3,411,259				15,688,415
Net income allocated to unitholders		3,356,268				15,156,732
Unitholders' interest in net income per unit (basic and diluted)		$	0.08			$	0.35
Schedule of Variable Interest Entities [Table Text Block]	'
	The Company consolidated the following properties owned by Consolidated VIEs in continuing operations as of September 30, 2014 and December 31, 2013:
	Consolidated VIEs
	Property Name		Location		Number of Units			Land and Improvements				Buildings and Improvements				Carrying Value at September 30, 2014
	Bent Tree Apartments		Columbia, SC		232			$	986,000			$	12,226,825			$	13,212,825
	Fairmont Oaks Apartments		Gainsville, FL		178			850,400				8,904,969				9,755,369
																22,968,194
	Less accumulated depreciation (depreciation expense of approximately $236,000 and $702,000 for the three and nine months ended September 30, 2014)															(10,416,221		)
	Balance at September 30, 2014															$	12,551,973
	Consolidated VIEs
	Property Name		Location		Number of Units			Land and Improvements				Buildings and Improvements				Carrying Value at December 31, 2013
	Bent Tree Apartments		Columbia, SC		232			$	986,000			$	12,097,419			$	13,083,419
	Fairmont Oaks Apartments		Gainesville, FL		178			850,400				8,845,020				9,695,420
																22,778,839
	Less accumulated depreciation (depreciation expense of approximately $1.4 million in 2013)															(9,741,942		)
	Balance at December 31, 2013															$	13,036,897
Schedule of Real Estate Properties [Table Text Block]	'
	The Company had the following investments in MF Properties as of September 30, 2014 and December 31, 2013:
	MF Properties
	Property Name		Location		Number of Units			Land and Land Improvements				Buildings and				Carrying Value at September 30, 2014
												Improvements
	Arboretum		Omaha, NE		145			$	1,740,754			$	19,189,588			$	20,930,342
	Eagle Village		Evansville, IN		511			567,880				12,447,195				13,015,075
	Glynn Place		Brunswick, GA		128			743,996				4,975,955				5,719,951
	The Colonial		Omaha, NE		258			1,180,058				7,797,855				8,977,913
	Meadowview		Highland Heights, KY		118			688,539				5,444,076				6,132,615
	Residences of DeCordova		Granbury, TX		110			1,137,832				7,988,270				9,126,102
	Residences of Weatherford		Weatherford, TX		76			1,927,701				5,714,133				7,641,834
	The 50/50		Lincoln, NE		475			—				32,689,619				32,689,619
	Woodland Park		Topeka, KS		236			1,260,032				14,100,520				15,360,552
																119,594,003
	Less accumulated depreciation (depreciation expense of approximately $1.3 million and $3.3 million for the three and nine months ended September 30, 2014)															(12,646,878		)
	Balance at September 30, 2014															$	106,947,125
	MF Properties
	Property Name		Location		Number of Units			Land and Land Improvements				Buildings and				Carrying Value at December 31, 2013
												Improvements
	Arboretum		Omaha, NE		145			$	1,739,554			$	19,123,872			$	20,863,426
	Eagle Village		Evansville, IN		511			567,880				12,336,975				12,904,855
	Glynn Place		Brunswick, GA		128			743,996				4,937,172				5,681,168
	The Colonial		Omaha, NE		258			1,180,058				7,613,668				8,793,726
	Meadowview		Highland Heights, KY		118			688,539				5,416,293				6,104,832
	Residences of DeCordova		Granbury, TX		110			1,137,832				7,965,574				9,103,406
	Residences of Weatherford		Weatherford, TX		76			1,927,701				5,695,600				7,623,301
	Woodland Park		Topeka, KS		236			1,260,032				14,033,777				15,293,809
	Construction work in process (The 50/50)		Lincoln, NE		N/A			—				13,130,325				13,130,325
																99,498,848
	Less accumulated depreciation (depreciation expense of approximately $3.8 million in 2013)															(9,386,811		)
	Balance at December 31, 2013															$	90,112,037

Other_Assets_Tables

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2014
Other Assets [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	'
	The following is a summary of the taxable property loans receivable, accrued interest and loan loss reserves on the amounts due at September 30, 2014 and December 31, 2013, respectively:
		September 30, 2014
		Outstanding Balance			Accrued Interest			Loan Loss Reserves			Interest Allowance			Net Taxable Property Loans
	Arbors at Hickory Ridge	$	191,264		$	22,703		$	—		$	—		$	213,967
	Ashley Square	5,078,342			2,314,530			(3,596,342		)	(2,314,530		)	1,482,000
	Avistar (February 2013 portfolio)	274,496			8,235			—			—			282,731
	Avistar (June 2013 portfolio)	251,622			7,549			—			—			259,171
	Cross Creek	6,946,087			2,019,041			(3,447,472		)	(2,019,041		)	3,498,615
	Foundation for Affordable Housing	1,587,776			4,006			—			—			1,591,782
	Greens Property	876,000			207,959			—			(2,990		)	1,080,969
	Lake Forest	4,618,704			2,484,191			(55,000		)	(2,463,356		)	4,584,539
	Ohio Properties	2,390,447			813,935			—			(276,358		)	2,928,024
		$	22,214,738		$	7,882,149		$	(7,098,814	)	$	(7,076,275	)	$	15,921,798
		December 31, 2013
		Outstanding Balance			Accrued Interest			Loan Loss Reserves			Interest Allowance			Net Taxable Property Loans
	Arbors at Hickory Ridge	$	191,264		$	12,979		$	—		$	—		$	204,243
	Ashley Square	5,078,342			2,053,415			(3,596,342		)	(2,053,415		)	1,482,000
	Cross Creek	6,821,087			1,825,389			(3,372,472		)	(1,825,389		)	3,448,615
	Foundation for Affordable Housing	1,603,083			13,989			—			—			1,617,072
	Greens Property	876,000			130,563			—			(921		)	1,005,642
	Lake Forest	4,618,704			2,148,881			(55,000		)	(2,128,046		)	4,584,539
	Ohio Properties	2,361,447			585,377			—			(186,706		)	2,760,118
		$	21,549,927		$	6,770,593		$	(7,023,814	)	$	(6,194,477	)	$	15,102,229
Schedule of Other Assets [Table Text Block]	'
	The Company had the following Other assets as of dates shown:
		September 30, 2014			December 31, 2013
	Taxable property loans receivable	$	22,214,738		$	21,549,927
	Less: Loan loss reserves	(7,098,814		)	(7,023,814		)
	Deferred financing costs - net	4,897,466			2,503,679
	Fair value of derivative contracts	1,507,302			888,120
	Taxable bonds at estimated fair value	4,544,470			4,075,953
	Land held for sale	1,482,184			1,465,000
	Bond purchase commitments - fair value adjustment (Notes 4 & 16)	2,968,941			—
	Other assets	991,727			899,426
	Total Other assets	$	31,508,014		$	24,358,291
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block]	'
	The following is a detail of loan loss reserves for the nine months ended September 30, 2014 and year ended December 31, 2013:
		30-Sep-14			31-Dec-13
	Balance, beginning of year	$	7,023,814		$	12,272,671
	Realized loss on taxable loan - Iona Lakes	—			(4,557,741		)
	Provision for loan loss	75,000			168,000
	Deconsolidation of VIEs	—			55,000
	Write off due to foreclosure	—			(914,116		)
	Balance, end of year	$	7,098,814		$	7,023,814

Debt_Financing_Tables

Debt Financing (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Financing [Abstract]	'
Schedule of Debt [Table Text Block]	'
	Tender Option Bond Financings
	Description of the Tender Option Bond Financings	Outstanding Debt Financing at September 30, 2014		Stated Maturity
	PHC Certificates-TOB Trust	$	44,675,000	Dec-14
	MBS - TOB Trust 1	2,585,000		Oct-14
	MBS - TOB Trust 2	4,090,000		Oct-14
	MBS - TOB Trust 4	5,960,000		Oct-14
	MBS - TOB Trust 5	10,545,000		Oct-14
	MBS - TOB Trust 6	7,825,000		Feb-15
	The Suites on Paseo - TOB Trust	25,750,000		Dec-14
	TOB - Decatur Angle - TOB Trust	21,850,000		Oct-16
	Live 929 - TOB Trust	34,990,000		Jul-19
	Bruton Apartments - TOB Trust	17,250,000		Jul-17
	Total Debt Financing	$	175,520,000
	Description of the Tender Option Bond Financings	Outstanding Debt Financing at December 31, 2013		Stated Maturity
	PHC Certificates-TOB Trust	$	48,995,000	Jun-14
	Autumn Pines-TOB Trust	9,770,000		Jul-14
	MBS - TOB Trust 1	2,585,000		Apr-14
	MBS - TOB Trust 2	4,090,000		Apr-14
	MBS - TOB Trust 3	2,865,000		Apr-14
	MBS - TOB Trust 4	5,960,000		Apr-14
	MBS - TOB Trust 5	10,545,000		Apr-14
	Greens of Pine Glen - TOB Trust	5,700,000		Jun-14
	Arbors of Hickory Ridge - TOB Trust	7,000,000		Aug-14
	MBS - TOB Trust 6	7,825,000		Aug-14
	Avistar (February 2013 portfolio) - TOB Trust (1)	20,000,000		Jun-14
	Avistar (June 2013 portfolio) - TOB Trust (2)	13,210,000		Oct-14
	The Suites on Paseo - TOB Trust	25,750,000		Dec-14
	Total Debt Financing	$	164,295,000
	(1) Avistar at the Oaks Apartments, Avistar on the Hills Apartments, and Avistar in 09 Apartments is the collateral for the $20.0 million TOB Trust.
	(2) Avistar at Chase Hill, Avistar at the Crest, and Avistar on the Boulevard is the collateral for the approximate $13.2 million TOB Trust.
	Tender Option Bond Financings
	Description of the Tender Option Bond Financings	Outstanding Debt Financing at September 30, 2014		Stated Maturity
	PHC Certificates-TOB Trust	$	44,675,000	Dec-14
	MBS - TOB Trust 1	2,585,000		Oct-14
	MBS - TOB Trust 2	4,090,000		Oct-14
	MBS - TOB Trust 4	5,960,000		Oct-14
	MBS - TOB Trust 5	10,545,000		Oct-14
	MBS - TOB Trust 6	7,825,000		Feb-15
	The Suites on Paseo - TOB Trust	25,750,000		Dec-14
	TOB - Decatur Angle - TOB Trust	21,850,000		Oct-16
	Live 929 - TOB Trust	34,990,000		Jul-19
	Bruton Apartments - TOB Trust	17,250,000		Jul-17
	Total Debt Financing	$	175,520,000
	Description of the Tender Option Bond Financings	Outstanding Debt Financing at December 31, 2013		Stated Maturity
	PHC Certificates-TOB Trust	$	48,995,000	Jun-14
	Autumn Pines-TOB Trust	9,770,000		Jul-14
	MBS - TOB Trust 1	2,585,000		Apr-14
	MBS - TOB Trust 2	4,090,000		Apr-14
	MBS - TOB Trust 3	2,865,000		Apr-14
	MBS - TOB Trust 4	5,960,000		Apr-14
	MBS - TOB Trust 5	10,545,000		Apr-14
	Greens of Pine Glen - TOB Trust	5,700,000		Jun-14
	Arbors of Hickory Ridge - TOB Trust	7,000,000		Aug-14
	MBS - TOB Trust 6	7,825,000		Aug-14
	Avistar (February 2013 portfolio) - TOB Trust (1)	20,000,000		Jun-14
	Avistar (June 2013 portfolio) - TOB Trust (2)	13,210,000		Oct-14
	The Suites on Paseo - TOB Trust	25,750,000		Dec-14
	Total Debt Financing	$	164,295,000
	(1) Avistar at the Oaks Apartments, Avistar on the Hills Apartments, and Avistar in 09 Apartments is the collateral for the $20.0 million TOB Trust.
	(2) Avistar at Chase Hill, Avistar at the Crest, and Avistar on the Boulevard is the collateral for the approximate $13.2 million TOB Trust.
Schedule of Maturities of Long-term Debt [Table Text Block]	'
	The Company’s debt financing as of September 30, 2014 contractually matures over the next five years and thereafter as follows:
	2014	$	94,128,329
	2015	9,767,864
	2016	24,229,702
	2017	92,734,657
	2018	1,242,462
	Thereafter	124,853,986
	Total	$	346,957,000
	The Company’s mortgages payable as of September 30, 2014 contractually mature over the next five years and thereafter as follows:
	2014	$	277,971
	2015	9,175,372
	2016	8,064,399
	2017	29,568,099
	2018	—
	Thereafter	25,500,001
	Total	$	72,585,842
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]	'
	The par value of the mortgage revenue bonds included in this financing facility as of September 30, 2014 and December 31, 2013 are as follows:
	Description of	Outstanding Bond Par Amounts
	Mortgage Revenue Bonds	September 30, 2014		December 31, 2013		Financial Statement Presentation
	Ashley Square	$	5,174,000	$	5,212,000	Mortgage revenue bond
	Bella Vista	6,490,000		6,545,000		Mortgage revenue bond
	Bent Tree	7,486,000		7,542,000		Consolidated VIE
	Bridle Ridge	7,655,000		7,715,000		Mortgage revenue bond
	Brookstone	9,277,079		9,338,603		Mortgage revenue bond
	Cross Creek	8,442,164		8,497,933		Mortgage revenue bond
	Fairmont Oaks	7,290,000		7,355,000		Consolidated VIE
	Lake Forest	8,916,000		8,997,000		Mortgage revenue bond
	Runnymede	10,485,000		10,525,000		Mortgage revenue bond
	Southpark	13,795,000		13,795,000		Mortgage revenue bond
	Woodlynn Village	4,408,000		4,426,000		Mortgage revenue bond
	Ohio Series A Bond (1)	14,431,000		14,498,000		Mortgage revenue bond
	Villages at Lost Creek	—		18,090,000		Mortgage revenue bond
	Total	$	103,849,243	$	122,536,536
	(1) Collateralized by Crescent Village, Postwoods, and Willow Bend (Note 2 and Note 9)
	Effective July 1, 2014, the Partnership transferred the following mortgage revenue bonds to the 2014 Sponsor pursuant to the 2014 TEBS financing described above:
	Description of	Outstanding Bond Par Amounts
	Mortgage Revenue Bonds	30-Sep-14		1-Jul-14		Financial Statement Presentation
	Arbors at Hickory Ridge	$	11,450,000	$	11,450,000	Mortgage revenue bond
	Avistar at Chase Hill A Bond	10,000,000		10,000,000		Mortgage revenue bond
	Avistar at the Crest A Bond	9,700,000		9,700,000		Mortgage revenue bond
	Avistar at the Oaks A Bond	7,800,000		7,800,000		Mortgage revenue bond
	Avistar in 09 A Bond	6,735,000		6,735,000		Mortgage revenue bond
	Avistar on the Boulevard A Bond	16,525,000		16,525,000		Mortgage revenue bond
	Avistar on the Hills	5,389,000		5,389,000		Mortgage revenue bond
	Copper Gate Apartments	5,220,000		5,220,000		Mortgage revenue bond
	Greens Property A Bond	8,384,000		8,396,000		Mortgage revenue bond
	Harden Ranch A Bond	6,960,000		6,960,000		Mortgage revenue bond
	The Palms at Premier Park Apartments	20,152,000		20,152,000		Mortgage revenue bond
	Tyler Park Apartments A Bond	6,075,000		6,075,000		Mortgage revenue bond
	Westside Village A Bond	3,970,000		3,970,000		Mortgage revenue bond
	Total	$	118,360,000	$	118,372,000

Mortgages_Payable_Tables

Mortgages Payable (Tables)	9 Months Ended
	Sep. 30, 2014
Mortgages Payable [Abstract]	'
Schedule of Maturities of Long-term Debt [Table Text Block]	'
	The Company’s debt financing as of September 30, 2014 contractually matures over the next five years and thereafter as follows:
	2014	$	94,128,329
	2015	9,767,864
	2016	24,229,702
	2017	92,734,657
	2018	1,242,462
	Thereafter	124,853,986
	Total	$	346,957,000
	The Company’s mortgages payable as of September 30, 2014 contractually mature over the next five years and thereafter as follows:
	2014	$	277,971
	2015	9,175,372
	2016	8,064,399
	2017	29,568,099
	2018	—
	Thereafter	25,500,001
	Total	$	72,585,842

Interest_Rate_Derivative_Agree1

Interest Rate Derivative Agreements (Tables)	9 Months Ended
	Sep. 30, 2014
Interest Rate Derivative Agreements [Abstract]	'
Schedule of Derivative Instruments [Table Text Block]	'
	The terms of the nine derivative agreements are as follows:
		Date Purchased	Notional Amount		Effective Capped Rate		Maturity Date	Purchase Price		Counterparty
		September 2, 2010	$	31,936,667	3	%	September 1, 2017	$	921,000	Bank of New York Mellon
		September 2, 2010	$	31,936,667	3	%	September 1, 2017	$	845,600	Barclays Bank PLC
		September 2, 2010	$	31,936,667	3	%	September 1, 2017	$	928,000	Royal Bank of Canada
		August 15, 2013	$	93,305,000	1.5	%	September 1, 2017	$	793,000	Deutsche Bank
		February 18, 2014	$	41,250,000	1	%	March 1, 2017	$	230,500	SMBC Capital Markets, Inc
		February 18, 2014	$	28,750,000	1	%	March 1, 2017	$	161,000	SMBC Capital Markets, Inc
		July 10, 2014	$	31,565,000	3	%	August 15, 2019	$	315,200	Barclays Bank PLC
		July 10, 2014	$	31,565,000	3	%	August 15, 2019	$	343,000	Royal Bank of Canada
		July 10, 2014	$	31,565,000	3	%	August 15, 2019	$	333,200	SMBC Capital Markets, Inc

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Measurements [Abstract]	'
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	'
	Assets and liabilities measured at fair value on a recurring basis are summarized below:
			Fair Value Measurements at September 30, 2014
	Description		Assets at Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	Assets
	Mortgage Revenue Bonds		$	404,789,122			$	—			$	—			$	404,789,122
	Bond Purchase Commitment		2,968,941				—				—				2,968,941
	Public Housing Capital Fund Trust Certificates		60,537,086				—				—				60,537,086
	MBS Investments		38,878,702				—				38,878,702				—
	Taxable Bonds		4,544,470				—				—				4,544,470
	Interest Rate Derivatives		1,507,302				—				—				1,507,302
	Total Assets at Fair Value		$	513,225,623			$	—			$	38,878,702			$	474,346,921
			For Three Months Ended September 30, 2014
			Fair Value Measurements Using Significant
			Unobservable Inputs (Level 3)
			Mortgage Revenue Bonds				Bond Purchase Commitment				Public Housing Capital Fund Trust Certificates				Taxable Bonds			Interest Rate Derivatives			Total
	Beginning Balance July 1, 2014		$	356,313,065			$	334,367			$	64,997,718			$	4,370,023		$	669,712		$	426,684,885
	Total gains (losses) (realized/unrealized)
	Included in earnings		—				—				—				—			(153,810		)	(153,810		)
	Included in other comprehensive income (loss)		17,464,986				2,634,574				(316,185		)		174,447			—			19,957,822
	Purchases		31,115,700				—				—				—			—			31,115,700
	Purchase interest rate derivatives		—				—				—				—			991,400			991,400
	Settlements		(104,629		)		—				(4,144,447		)		—			—			(4,249,076		)
	Ending Balance September 30, 2014		$	404,789,122			$	2,968,941			$	60,537,086			$	4,544,470		$	1,507,302		$	474,346,921
	Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2014		$	—			$	—			$	—			$	—		$	(153,810	)	$	(153,810	)
			For Nine Months Ended September 30, 2014
			Fair Value Measurements Using Significant
			Unobservable Inputs (Level 3)
			Mortgage Revenue Bonds				Bond Purchase Commitment				Public Housing Capital Fund Trust Certificates				Taxable Bonds			Interest Rate Derivatives			Total
	Beginning Balance January 1, 2014		$	285,318,171			$	(4,852,177	)		$	62,056,379			$	4,075,953		$	888,120		$	347,486,446
	Total gains (losses) (realized/unrealized)
	Included in earnings		—				—				—				—			(763,718		)	(763,718		)
	Included in other comprehensive income (loss)		42,498,644				7,821,118				4,480,249				543,517			—			55,343,528
	Purchases		107,770,827				—				—				—			—			107,770,827
	Purchase interest rate derivatives		—				—				—				—			1,382,900			1,382,900
	Mortgage revenue bond and MBS sales and redemption		(30,464,798		)		—				—				—			—			(30,464,798		)
	Settlements		(333,722		)		—				(5,999,542		)		(75,000		)	—			(6,408,264		)
	Ending Balance September 30, 2014		$	404,789,122			$	2,968,941			$	60,537,086			$	4,544,470		$	1,507,302		$	474,346,921
	Total amount of losses for the period included in earning attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2014		$	—			$	—			$	—			$	—		$	(763,718	)	$	(763,718	)
			Fair Value Measurements at December 31, 2013
	Description		Assets at Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	Assets
	Mortgage Revenue Bonds		$	285,318,171			$	—			$	—			$	285,318,171
	Bond Purchase Commitment		(4,852,177		)		—				—				(4,852,177		)
	Public Housing Capital Fund Trusts		62,056,379				—				—				62,056,379
	MBS Investments		37,845,661				—				37,845,661				—
	Taxable Bonds		4,075,953				—				—				4,075,953
	Interest Rate Derivatives		888,120				—				—				888,120
	Total Assets at Fair Value		$	385,332,107			$	—			$	37,845,661			$	347,486,446
			For Three Months Ended September 30, 2013
			Fair Value Measurements Using Significant
			Unobservable Inputs (Level 3)
			Mortgage Revenue Bonds				Public Housing Capital Fund Trust Certificates				Taxable Bonds				Interest Rate Derivatives			Total
	Beginning Balance July 1, 2013		$	199,115,593			$	62,759,268			$	3,083,579			$	514,975		$	265,473,415
	Total losses (realized/unrealized)
	Included in earnings		—				—				—				(440,331		)	(440,331		)
	Included in other comprehensive loss		(15,995,937		)		(951,622		)		(226,701		)		—			(17,174,260		)
	Greens Property's bonds after sale recognition		9,465,000				—				—				—			9,465,000
	Purchases		10,542,000				—				1,283,000				—			11,825,000
	Purchase interest rate derivatives		—				—				—				792,999			792,999
	Settlements		(50,776		)		(14,130		)		—				—			(64,906		)
	Ending Balance September 30, 2013		$	203,075,880			$	61,793,516			$	4,139,878			$	867,643		$	269,876,917
	Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2013		$	—			$	—			$	—			$	(440,331	)	$	(440,331	)
			For Nine Months Ended September 30, 2013
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		mortgage Revenue Bonds				Public Housing Capital Fund Trust Certificates				Taxable Bonds				Interest Rate Derivatives			Total
Beginning Balance January 1, 2013		$	145,237,376			$	65,389,298			$	1,524,873			$	378,729		$	212,530,276
Total losses (realized/unrealized)
Included in earnings		—				—				—				(304,085		)	(304,085		)
Included in other comprehensive income (loss)		(15,851,561		)		(3,553,392		)		(232,995		)		—			(19,637,948		)
Ohio Properties' bonds after sale recognition		19,581,166				—				—				—			19,581,166
Greens Property's bonds after sale recognition		9,465,000				—				—				—			9,465,000
Purchases		72,752,000				—				2,918,000				—			75,670,000
Purchase interest rate derivatives		—				—				—				792,999			792,999
Mortgage revenue bond redemption		(16,052,849		)		—				—				—			(16,052,849		)
Mortgage revenue bond foreclosure		(11,581,266		)		—				—				—			(11,581,266		)
Settlements		(473,986		)		(42,390		)		(70,000		)		—			(586,376		)
Ending Balance September 30, 2013		$	203,075,880			$	61,793,516			$	4,139,878			$	867,643		$	269,876,917
Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30, 2013		$	—			$	—			$	—			$	(304,085	)	$	(304,085	)
Fair Value, by Balance Sheet Grouping [Table Text Block]	'
	This estimate of fair value is based on Level 3 inputs. The table below represents the fair value of the debt held on the balance sheet for September 30, 2014 and December 31, 2013, respectively.
		30-Sep-14								31-Dec-13
		Carrying Amount				Fair Value				Carrying Amount				Fair Value
	Financial Liabilities:
	Debt financing	$	346,957,000			$	346,193,323			$	257,274,000			$	258,639,691
	Mortgages payable	$	72,585,842			$	71,348,283			$	57,087,320			$	58,117,798

Segment_Reporting_Tables

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	The following table details certain key financial information for the Company’s reportable segments for the three and nine months ended September 30, 2014 and 2013:
		For the Three Months Ended,						For the Nine Months Ended,
		September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
	Total revenues
	Mortgage Revenue Bond Investments	$	6,488,107		$	4,599,998		$	21,142,200		$	23,371,043
	MF Properties	3,675,140			3,074,115			9,959,704			8,325,594
	Public Housing Capital Fund Trust Certificates	734,110			814,946			2,311,112			2,445,259
	Mortgage-Backed Securities	378,202			425,499			1,195,880			1,178,664
	Consolidated VIEs	799,411			1,225,261			2,385,835			3,658,636
	Consolidation/eliminations	(232,022		)	(375,642		)	(697,964		)	(1,130,027		)
	Total revenues	$	11,842,948		$	9,764,177		$	36,296,767		$	37,849,169
	Interest expense
	Mortgage Revenue Bond Investments	$	1,612,293		$	1,307,397		$	4,253,997		$	2,426,721
	MF Properties	603,714			550,755			1,627,264			1,574,544
	Public Housing Capital Fund Trust Certificates	316,561			345,547			988,958			945,140
	Mortgage-Backed Securities	101,324			121,673			334,073			341,589
	Consolidated VIEs	565,444			832,719			1,684,636			2,477,348
	Consolidation/eliminations	(565,444		)	(832,719		)	(1,684,636		)	(2,477,348		)
	Total interest expense	$	2,633,892		$	2,325,372		$	7,204,292		$	5,287,994
	Depreciation expense
	Mortgage Revenue Bond Investments	$	—		$	—		$	—		$	—
	MF Properties	1,277,548			1,019,947			3,324,026			2,781,678
	Public Housing Capital Fund Trust Certificates	—			—			—			—
	Mortgage-Backed Securities	—			—			—			—
	Consolidated VIEs	235,774			354,756			702,053			1,048,210
	Consolidation/eliminations	—			—			—			—
	Total depreciation expense	$	1,513,322		$	1,374,703		$	4,026,079		$	3,829,888
	Income (loss) from continuing operations
	Mortgage Revenue Bond Investments	$	3,116,090		$	2,066,800		$	12,031,064		$	12,333,200
	MF Properties	(333,452		)	(478,460		)	(761,723		)	(1,205,151		)
	Public Housing Capital Fund Trust Certificates	410,396			462,245			1,300,694			1,478,659
	Mortgage-Backed Securities	276,878			276,968			859,139			764,120
	Consolidated VIEs	(505,338		)	(786,542		)	(1,426,463		)	(2,241,493		)
	Consolidation/eliminations	340,106			467,837			1,006,778			1,379,690
	Income - America First Multifamily Investors, L. P.	$	3,304,680		$	2,008,848		$	13,009,489		$	12,509,025
	Net income (loss)
	Mortgage Revenue Bond Investments	$	3,116,090		$	2,066,800		$	12,031,064		$	12,333,200
	MF Properties	(330,303		)	923,951			(758,097		)	1,973,669
	Public Housing Capital Fund Trust Certificates	410,396			462,245			1,300,694			1,478,659
	Mortgage-Backed Securities	276,878			276,968			859,139			764,120
	Consolidated VIEs	(505,338		)	(786,542		)	(1,426,463		)	(2,241,493		)
	Consolidation/eliminations	340,106			467,837			1,006,778			1,379,690
	Net income - America First Multifamily Investors, L. P.	$	3,307,829		$	3,411,259		$	13,013,115		$	15,687,845
	The following table details certain key financial information for the Company’s reportable segments as of September 30, 2014 and December 31, 2013:
		30-Sep-14			31-Dec-13
	Total assets
	Mortgage Revenue Bond Investments	$	675,317,067		$	442,175,645
	MF Properties	101,808,642			83,580,479
	Public Housing Capital Fund Trusts	60,990,478			62,449,028
	Mortgage-Backed Securities	39,438,966			38,427,654
	Consolidated VIEs	13,625,661			14,019,837
	Consolidation/eliminations	(155,172,941		)	(106,419,611		)
	Total assets	$	736,007,873		$	534,233,032
	Total partners’ capital
	Mortgage Revenue Bond Investments	$	350,718,351		$	231,042,138
	MF Properties	19,616,237			23,107,538
	Public Housing Capital Fund Trusts	16,214,975			13,336,761
	Mortgage-Backed Securities	8,286,132			4,397,356
	Consolidated VIEs	(22,938,239		)	(21,511,776		)
	Consolidation/eliminations	(70,426,508		)	(47,237,930		)
	Total partners’ capital	$	301,470,948		$	203,134,087

Basis_of_Presentation_Percenta

Basis of Presentation Percentage of Ownership (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014
Increase (Decrease) in Other Noncurrent Assets	$6.20
Consolidated Properties [Member]	'
Number of Real Estate Properties	9

Partnership_Income_Expense_and1

Partnership Income, Expense and Cash Distributions Narrative Tagging (Details)	Sep. 30, 2014
Percent of Regular Distributions	100.00%
Penalty on Outstanding Contingent Interest	0.90%
Limited Partner [Member]	'
Percent of Regular Distributions	99.00%
Special Distribution	75.00%
General Partner [Member]	'
Percent of Regular Distributions	1.00%
Special Distribution	25.00%

Variable_Interest_Entities_Pro

Variable Interest Entities Property Asset Carrying Value and Maximum Exposure (Details) (USD $)	Sep. 30, 2014
Ashley Square [Member]	'
Maximum Exposure to Loss	$12,566,872
Carrying Value	7,065,142
Ashley Square [Member] | Mortgage revenue bonds [Member]	'
Maximum Exposure to Loss	5,174,000
Carrying Value	5,583,142
Ashley Square [Member] | Property Loan [Member]	'
Maximum Exposure to Loss	7,392,872
Carrying Value	1,482,000
Bruton Apartments [Member] | Mortgage revenue bonds [Member]	'
Maximum Exposure to Loss	18,145,000
Carrying Value	19,295,756
Cross Creek [Member]	'
Maximum Exposure to Loss	9,565,827
Carrying Value	11,845,711
Cross Creek [Member] | Mortgage revenue bonds [Member]	'
Maximum Exposure to Loss	6,067,212
Carrying Value	8,347,096
Cross Creek [Member] | Property Loan [Member]	'
Maximum Exposure to Loss	3,498,615
Carrying Value	$3,498,615

Variable_Interest_Entities_Con

Variable Interest Entities Consolidating Balance Sheet (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Assets [Abstract]	'	'	'	'
Cash and cash equivalents	$64,511,676	$11,318,015	'	'
Restricted cash	11,108,005	6,845,543	'	'
Interest receivable	5,176,170	3,342,038	'	'
Mortgage revenue bonds held in trust, at fair value	350,940,711	216,371,801	'	'
Mortgage revenue bonds, at fair value	53,848,411	68,946,370	'	'
Public housing capital fund trusts, at fair value	60,537,086	62,056,379	'	'
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	38,878,702	37,845,661	'	'
Real Estate Assets [Abstract]	'	'	'	'
Land and improvements	11,083,192	11,081,992	'	'
Buildings and improvements	131,479,005	111,195,695	'	'
Real estate assets before accumulated depreciation	142,562,197	122,277,687	'	'
Accumulated depreciation	-23,063,099	-19,128,753	'	'
Net real estate assets	119,499,098	103,148,934	'	'
Other assets	31,508,014	24,358,291	'	'
Assets	736,007,873	534,233,032	'	'
Liabilities [Abstract]	'	'	'	'
Accounts payable, accrued expenses and other liabilities	7,401,339	5,450,694	'	'
Distribution payable	7,607,692	6,446,076	'	'
Debt financing	346,957,000	257,274,000	'	'
Mortgages payable	72,585,842	57,087,320	'	'
Bond Purchase Commitment - Fair Market Value Adjustment	0	4,852,177	'	'
Liabilities	434,551,873	331,110,267	'	'
Partners' Capital	'	'	'	'
General Partner	491,349	16,671	'	'
Beneficial Unit Certificate holders	321,855,180	223,573,312	'	'
Unallocated deficit of Consolidated VIEs	-20,875,581	-20,455,896	'	'
Total Partners' Capital	301,470,948	203,134,087	'	'
Noncontrolling interest	-14,948	-11,322	'	'
Total Capital	301,456,000	203,122,765	156,257,059	183,970,931
Total Liabilities and Partners' Capital	736,007,873	534,233,032	'	'
Partnership [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Cash and cash equivalents	64,462,931	11,292,039	'	'
Restricted cash	10,405,986	6,344,666	'	'
Interest receivable	5,846,747	5,281,398	'	'
Mortgage revenue bonds held in trust, at fair value	366,838,950	230,885,864	'	'
Mortgage revenue bonds, at fair value	53,848,411	68,946,370	'	'
Public housing capital fund trusts, at fair value	60,537,086	62,056,379	'	'
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	38,878,702	37,845,661	'	'
Real Estate Assets [Abstract]	'	'	'	'
Land and improvements	9,246,792	9,245,592	'	'
Buildings and improvements	110,347,211	90,253,256	'	'
Real estate assets before accumulated depreciation	119,594,003	99,498,848	'	'
Accumulated depreciation	-12,646,878	-9,386,811	'	'
Net real estate assets	106,947,125	90,112,037	'	'
Other assets	42,146,347	33,488,744	'	'
Assets	749,912,285	546,253,158	'	'
Liabilities [Abstract]	'	'	'	'
Accounts payable, accrued expenses and other liabilities	6,873,724	4,963,653	'	'
Distribution payable	7,607,692	6,446,076	'	'
Debt financing	346,957,000	257,274,000	'	'
Mortgages payable	72,585,842	57,087,320	'	'
Bond Purchase Commitment - Fair Market Value Adjustment	'	4,852,177	'	'
Liabilities	434,024,258	330,623,226	'	'
Partners' Capital	'	'	'	'
General Partner	491,349	16,671	'	'
Beneficial Unit Certificate holders	315,411,626	215,624,583	'	'
Unallocated deficit of Consolidated VIEs	0	0	'	'
Total Partners' Capital	315,902,975	215,641,254	'	'
Noncontrolling interest	-14,948	-11,322	'	'
Total Capital	315,888,027	215,629,932	'	'
Total Liabilities and Partners' Capital	749,912,285	546,253,158	'	'
Consolidated VIEs [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Cash and cash equivalents	48,745	25,976	'	'
Restricted cash	702,019	500,877	'	'
Interest receivable	0	0	'	'
Mortgage revenue bonds held in trust, at fair value	0	0	'	'
Mortgage revenue bonds, at fair value	0	0	'	'
Public housing capital fund trusts, at fair value	0	0	'	'
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	0	0	'	'
Real Estate Assets [Abstract]	'	'	'	'
Land and improvements	1,836,400	1,836,400	'	'
Buildings and improvements	21,131,794	20,942,439	'	'
Real estate assets before accumulated depreciation	22,968,194	22,778,839	'	'
Accumulated depreciation	-10,416,221	-9,741,942	'	'
Net real estate assets	12,551,973	13,036,897	'	'
Other assets	322,924	456,087	'	'
Assets	13,625,661	14,019,837	'	'
Liabilities [Abstract]	'	'	'	'
Accounts payable, accrued expenses and other liabilities	21,787,900	20,634,613	'	'
Distribution payable	0	0	'	'
Debt financing	0	0	'	'
Mortgages payable	14,776,000	14,897,000	'	'
Bond Purchase Commitment - Fair Market Value Adjustment	'	0	'	'
Liabilities	36,563,900	35,531,613	'	'
Partners' Capital	'	'	'	'
General Partner	0	0	'	'
Beneficial Unit Certificate holders	0	0	'	'
Unallocated deficit of Consolidated VIEs	-22,938,239	-21,511,776	'	'
Total Partners' Capital	-22,938,239	-21,511,776	'	'
Noncontrolling interest	0	0	'	'
Total Capital	-22,938,239	-21,511,776	'	'
Total Liabilities and Partners' Capital	13,625,661	14,019,837	'	'
Consolidations, Eliminations for VIEs [Member]	'	'	'	'
Assets [Abstract]	'	'	'	'
Cash and cash equivalents	0	0	'	'
Restricted cash	0	0	'	'
Interest receivable	-670,577	-1,939,360	'	'
Mortgage revenue bonds held in trust, at fair value	-15,898,239	-14,514,063	'	'
Mortgage revenue bonds, at fair value	0	0	'	'
Public housing capital fund trusts, at fair value	0	0	'	'
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	0	0	'	'
Real Estate Assets [Abstract]	'	'	'	'
Land and improvements	0	0	'	'
Buildings and improvements	0	0	'	'
Real estate assets before accumulated depreciation	0	0	'	'
Accumulated depreciation	0	0	'	'
Net real estate assets	0	0	'	'
Other assets	-10,961,257	-9,586,540	'	'
Assets	-27,530,073	-26,039,963	'	'
Liabilities [Abstract]	'	'	'	'
Accounts payable, accrued expenses and other liabilities	-21,260,285	-20,147,572	'	'
Distribution payable	0	0	'	'
Debt financing	0	0	'	'
Mortgages payable	-14,776,000	-14,897,000	'	'
Bond Purchase Commitment - Fair Market Value Adjustment	'	0	'	'
Liabilities	-36,036,285	-35,044,572	'	'
Partners' Capital	'	'	'	'
General Partner	0	0	'	'
Beneficial Unit Certificate holders	6,443,554	7,948,729	'	'
Unallocated deficit of Consolidated VIEs	2,062,658	1,055,880	'	'
Total Partners' Capital	8,506,212	9,004,609	'	'
Noncontrolling interest	0	0	'	'
Total Capital	8,506,212	9,004,609	'	'
Total Liabilities and Partners' Capital	($27,530,073)	($26,039,963)	'	'

Variable_Interest_Entities_Con1

Variable Interest Entities Consolidating Income Statement (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues [Abstract]	'	'	'	'
Property revenues	$4,474,551	$4,299,376	$12,345,539	$11,984,229
Investment income	6,958,323	5,247,808	19,405,356	17,559,622
Gain on sale and retirement of bonds	0	0	3,684,898	0
Contingent Interest Income	0	0	0	6,497,160
Other income	188,000	0	188,000	250,000
Interest Income, Operating	222,074	216,993	672,974	1,558,158
Revenues	11,842,948	9,764,177	36,296,767	37,849,169
Expenses [Abstract]	'	'	'	'
Real estate operating (exclusive of items shown below)	2,590,602	2,609,955	6,961,065	6,982,316
Realized loss on taxable property loan	0	0	0	4,557,741
Provision for loan loss	75,000	72,000	75,000	168,000
Provision for loss on receivables	0	0	0	241,698
Depreciation and amortization	1,829,086	1,762,224	4,967,428	5,004,682
Interest	2,633,892	2,325,372	7,204,292	5,287,994
General and administrative	1,409,688	985,778	4,079,493	3,097,713
Total expenses	8,538,268	7,755,329	23,287,278	25,340,144
Income (loss) from operations	3,304,680	2,008,848	13,009,489	12,509,025
Income from discontinued operations	0	1,342,498	0	3,442,404
Net income (loss)	3,304,680	3,351,346	13,009,489	15,951,429
Net income (loss) attributable to noncontrolling interest	-3,149	-59,913	-3,626	263,584
Net income (loss) - America First Tax Exempt Investors, L.P.	3,307,829	3,411,259	13,013,115	15,687,845
Partnership [Member]	'	'	'	'
Revenues [Abstract]	'	'	'	'
Property revenues	3,675,140	3,074,115	9,959,704	8,325,593
Investment income	7,190,345	5,623,450	20,103,320	18,689,649
Gain on sale and retirement of bonds	'	'	3,684,898	'
Contingent Interest Income	'	'	'	6,497,160
Other income	188,000	'	188,000	250,000
Interest Income, Operating	222,074	216,993	672,974	1,558,158
Revenues	11,275,559	8,914,558	34,608,896	35,320,560
Expenses [Abstract]	'	'	'	'
Real estate operating (exclusive of items shown below)	2,091,707	1,794,008	5,549,398	4,632,958
Realized loss on taxable property loan	'	'	'	4,557,741
Provision for loan loss	75,000	72,000	75,000	168,000
Provision for loss on receivables	'	'	'	241,698
Depreciation and amortization	1,595,360	1,409,847	4,271,539	3,963,628
Interest	2,633,892	2,325,372	7,204,292	5,287,994
General and administrative	1,409,688	985,778	4,079,493	3,097,713
Total expenses	7,805,647	6,587,005	21,179,722	21,949,732
Income (loss) from operations	'	2,327,553	'	13,370,828
Income from discontinued operations	'	1,342,498	'	3,442,404
Net income (loss)	3,469,912	3,670,051	13,429,174	16,813,232
Net income (loss) attributable to noncontrolling interest	-3,149	-59,913	-3,626	263,584
Net income (loss) - America First Tax Exempt Investors, L.P.	3,473,061	3,729,964	13,432,800	16,549,648
Consolidated VIEs [Member]	'	'	'	'
Revenues [Abstract]	'	'	'	'
Property revenues	799,411	1,225,261	2,385,835	3,658,636
Investment income	0	0	0	0
Gain on sale and retirement of bonds	'	'	0	'
Contingent Interest Income	'	'	'	0
Other income	0	'	0	0
Interest Income, Operating	0	0	0	0
Revenues	799,411	1,225,261	2,385,835	3,658,636
Expenses [Abstract]	'	'	'	'
Real estate operating (exclusive of items shown below)	498,895	815,947	1,411,667	2,349,358
Realized loss on taxable property loan	'	'	'	0
Provision for loan loss	0	0	0	0
Provision for loss on receivables	'	'	'	0
Depreciation and amortization	240,410	363,137	715,995	1,073,423
Interest	565,444	832,719	1,684,636	2,477,348
General and administrative	0	0	0	0
Total expenses	1,304,749	2,011,803	3,812,298	5,900,129
Income (loss) from operations	'	-786,542	'	-2,241,493
Income from discontinued operations	'	0	'	0
Net income (loss)	-505,338	-786,542	-1,426,463	-2,241,493
Net income (loss) attributable to noncontrolling interest	0	0	0	0
Net income (loss) - America First Tax Exempt Investors, L.P.	-505,338	-786,542	-1,426,463	-2,241,493
Consolidations, Eliminations for VIEs [Member]	'	'	'	'
Revenues [Abstract]	'	'	'	'
Property revenues	0	0	0	0
Investment income	-232,022	-375,642	-697,964	-1,130,027
Gain on sale and retirement of bonds	'	'	0	'
Contingent Interest Income	'	'	'	0
Other income	0	'	0	0
Interest Income, Operating	0	0	0	0
Revenues	-232,022	-375,642	-697,964	-1,130,027
Expenses [Abstract]	'	'	'	'
Real estate operating (exclusive of items shown below)	0	0	0	0
Realized loss on taxable property loan	'	'	'	0
Provision for loan loss	0	0	0	0
Provision for loss on receivables	'	'	'	0
Depreciation and amortization	-6,684	-10,760	-20,106	-32,369
Interest	-565,444	-832,719	-1,684,636	-2,477,348
General and administrative	0	0	0	0
Total expenses	-572,128	-843,479	-1,704,742	-2,509,717
Income (loss) from operations	'	467,837	'	1,379,690
Income from discontinued operations	'	0	'	0
Net income (loss)	340,106	467,837	1,006,778	1,379,690
Net income (loss) attributable to noncontrolling interest	0	0	0	0
Net income (loss) - America First Tax Exempt Investors, L.P.	$340,106	$467,837	$1,006,778	$1,379,690

Variable_Interest_Entities_Nar

Variable Interest Entities Narrative Tagging (Details) (USD $)	9 Months Ended						9 Months Ended	3 Months Ended	9 Months Ended	3 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Mar. 31, 2010	Sep. 30, 2014	Mar. 31, 2010
		properties	Total Owners [Member]	Related party owner [Member]	Consolidated VIEs [Member]	Unconsolidated Properties [Member]	Ashley Square [Member]	Cross Creek [Member]	Cross Creek [Member]	First Installment [Member]
			owners	owners	properties	properties		installments	limited	Cross Creek [Member]
Available-for-Sale Securities, Ownership Percentage	100.00%	'	'	'	'	'	100.00%	'	100.00%	'
Number of Owners	'	'	4	2	'	'	'	'	'	'
Number of Variable Interest Entities	'	5	'	'	2	3	'	'	'	'
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	'	'	'	'	'	'	99.00%	'	99.00%	'
Number of Partners	'	'	'	'	'	'	'	'	3	'
Partners' Capital Account, Contributions	'	'	'	'	'	'	'	$2,200,000	'	$563,000
Number of Installments of Contributed Capital	'	'	'	'	'	'	'	3	'	'
Noncontrolling Interest, Ownership Percentage by Parent	'	'	'	'	'	'	'	'	1.00%	'

Investments_in_Mortgage_Revenu2

Investments in Mortgage Revenue Bonds Investments in Mortgage Revenue Bonds(Details) (USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2010

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Arbors at Hickory Ridge [Member]

Arbors at Hickory Ridge [Member]

Ashley Square [Member]

Ashley Square [Member]

Autumn Pines [Member]

Avistar at the Oaks [Member]

Avistar in 09 [Member]

Avistar on the Hills [Member]

Bella Vista [Member]

Bella Vista [Member]

Bridle Ridge [Member]

Bridle Ridge [Member]

Brookstone [Member]

Brookstone [Member]

Bruton Apartments [Member]

Copper Gate [Member]

Copper Gate [Member]

Cross Creek [Member]

Cross Creek [Member]

Decatur-Angle [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Heritage Square [Member]

Lake Forest [Member]

Lake Forest [Member]

Live 929 Apartments [Member]

Lost Creek [Member]

Lost Creek [Member]

Rennaisance [Member]

Rennaisance [Member]

Runnymede [Member]

Runnymede [Member]

Southpark [Member]

Southpark [Member]

The Palms at Premier Park [Member]

The Palms at Premier Park [Member]

The Suites on Paseo [Member]

The Suites on Paseo [Member]

Tyler Park Apartments [Member]

Vantage at Harlingen [Member]

Vantage at Harlingen [Member]

Vantage at Judson [Member]

Vantage at Judson [Member]

Westside Village Market [Member]

Woodlynn Village [Member]

Woodlynn Village [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar at the Oaks [Member]

Avistar in 09 [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Avistar on the Hills [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Harden Ranch [Member]

Heritage Square [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Tyler Park Apartments [Member]

Tyler Park Apartments [Member]

Westside Village Market [Member]

Westside Village Market [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar at the Oaks [Member]

Avistar in 09 [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Harden Ranch [Member]

Heritage Square [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Tyler Park Apartments [Member]

Tyler Park Apartments [Member]

Vantage at Harlingen [Member]

Vantage at Judson [Member]

Westside Village Market [Member]

Westside Village Market [Member]

Schedule of Available-for-sale Securities [Line Items]

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cost adjusted for pay-downs, held in trust

$319,314,132

$219,511,490

$11,572,252

[1]

$11,576,209

[2]

$5,174,000

[2]

$5,212,000

[2]

$12,147,873

[3]

$8,354,000

[3]

$7,192,000

[3]

$5,389,000

[3]

$6,490,000

[2]

$6,545,000

[2]

$7,655,000

[2]

$7,715,000

[2]

$7,468,080

[2]

$7,463,641

[2]

$18,145,000

[3]

$5,220,000

[1]

'

$6,067,212

[2]

$6,042,297

[2]

$23,000,000

[3]

'

'

'

$8,916,000

[2]

$8,997,000

[2]

$40,904,962

[3]

$15,883,084

[2]

$15,900,000

'

'

$10,485,000

[2]

$10,525,000

[2]

$11,937,626

[2]

$11,878,885

[2]

$20,152,000

[1]

'

$35,750,000

[3]

$35,750,000

[3]

'

'

'

'

'

'

$4,408,000

[2]

$4,426,000

[2]

$10,000,000

[1]

$8,960,000

[3]

'

$9,700,000

[1]

$8,759,000

[3]

'

$7,800,000

[1]

$6,735,000

[1]

$16,525,000

[1]

$13,760,000

[3]

'

$5,389,000

[1]

$8,384,000

[1]

$8,437,501

[3]

$6,960,000

[1]

'

$14,431,000

[2]

$14,498,000

[3]

$6,075,000

[1]

'

$3,970,000

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cost adjusted for pay-downs

50,624,261

71,040,881

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,220,000

'

'

'

'

'

11,705,000

'

'

'

'

'

12,675,000

7,975,000

'

'

'

'

'

20,152,000

'

'

8,100,000

6,692,000

6,692,000

6,049,000

6,049,000

5,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

965,000

2,005,000

'

759,000

1,700,000

'

554,000

457,000

451,000

3,216,000

'

946,201

948,291

2,340,000

'

3,576,060

3,583,590

2,025,000

'

'

'

1,430,000

'

Unrealized Gain, held in trust

31,626,579

5,309,545

1,530,105

[1]

225,690

[2]

409,142

[2]

0

[2]

0

[3]

0

[3]

0

[3]

0

[3]

425,095

[2]

0

[2]

431,130

[2]

0

[2]

1,178,235

[2]

841,751

[2]

1,150,756

[3]

398,704

[1]

'

2,279,884

[2]

1,480,266

[2]

543,260

[3]

'

'

'

921,670

[2]

0

[2]

4,502,682

[3]

1,743,088

[2]

'

'

'

1,064,647

[2]

0

[2]

2,963,871

[2]

1,018,750

[2]

2,339,849

[1]

'

2,656,940

[3]

0

[3]

'

'

'

'

'

'

152,385

[2]

0

[2]

858,300

[1]

0

[3]

'

1,079,610

[1]

0

[3]

'

416,832

[1]

359,918

[1]

2,128,585

[1]

0

[3]

'

555,498

[1]

794,798

[1]

0

[3]

364,286

[1]

'

1,759,179

[2]

0

[3]

218,457

[1]

'

142,761

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized Gain

3,272,872

340,453

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

'

'

'

'

'

105,910

'

'

'

'

'

924,570

0

'

'

'

'

'

0

'

'

0

540,647

0

561,831

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

70,995

0

'

103,960

0

'

18,132

14,958

55,820

0

'

351,919

189,589

0

'

524,130

150,864

0

'

'

'

0

'

Unrealized Loss, held in trust

0

-8,449,234

0

[1]

0

[2]

0

[2]

0

[2]

-195,355

[3]

-1,103,115

[3]

-588,254

[3]

-417,724

[3]

0

[2]

-473,989

[2]

0

[2]

-452,870

[2]

0

[2]

0

[2]

0

[3]

0

[1]

'

0

[2]

0

[2]

0

[3]

'

'

'

0

[2]

-289,461

[2]

0

[3]

0

[2]

'

'

'

0

[2]

-551,510

[2]

0

[2]

0

[2]

0

[1]

'

0

[3]

-2,502

[3]

'

'

'

'

'

'

0

[2]

-340,979

[2]

0

[1]

-850,752

[3]

'

0

[1]

-1,298,785

[3]

'

0

[1]

0

[1]

0

[1]

-1,306,512

[3]

'

0

[1]

0

[1]

-577,426

[3]

0

[1]

'

0

[2]

0

[3]

0

[1]

'

0

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized Loss

-48,722

-2,434,964

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-252,648

'

'

'

'

'

0

'

'

'

'

'

0

-16,964

'

'

'

'

'

-283,942

'

'

-526,601

0

-211,735

0

-190,423

-403,400

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

-159,117

'

0

-134,912

'

0

0

0

-255,222

'

0

0

-11,095

'

0

0

-26,487

'

-839,000

-1,295,000,000

-11,140

'

Estimated Fair Value, held in trust

350,940,711

216,371,801

13,102,357

[1]

11,801,899

[2]

5,583,142

[2]

5,212,000

[2]

11,952,518

[3]

7,250,885

[3]

6,603,746

[3]

4,971,276

[3]

6,915,095

[2]

6,071,011

[2]

8,086,130

[2]

7,262,130

[2]

8,646,315

[2]

8,305,392

[2]

19,295,756

[3]

5,618,704

[1]

'

8,347,096

[2]

7,522,563

[2]

23,543,260

[3]

10,200,000

[3]

9,098,751

[3]

'

9,837,670

[2]

8,707,539

[2]

45,407,644

[3]

17,626,172

[2]

18,500,000

'

'

11,549,647

[2]

9,973,490

[2]

14,901,497

[2]

12,897,635

[2]

22,491,849

[1]

'

38,406,940

[3]

35,747,498

[3]

'

'

'

'

'

'

4,560,385

[2]

4,085,021

[2]

10,858,300

[1]

8,109,248

[3]

'

10,779,610

[1]

7,460,215

[3]

'

8,216,832

[1]

7,094,918

[1]

18,653,585

[1]

12,453,488

[3]

'

5,944,498

[1]

9,178,798

[1]

7,860,075

[3]

7,324,286

[1]

'

16,190,179

[2]

14,498,000

[3]

6,293,457

[1]

'

4,112,761

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated Fair Value

$53,848,411

$68,946,370

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$18,100,000

'

$4,967,352

'

'

$23,000,000

'

'

$11,810,910

'

'

$40,270,000

'

'

$13,599,570

$7,958,036

'

'

'

'

'

$19,868,058

'

'

$7,573,399

$7,232,647

$6,480,265

$6,610,831

$5,858,577

$4,996,600

'

'

'

'

$10,000,000

'

'

$9,700,000

'

'

'

'

$16,500,000

'

'

'

$7,000,000

$11,200,000

'

'

'

$6,100,000

'

$4,000,000

$1,035,995

$1,845,883

$1,000,000

$862,960

$1,565,088

$800,000

$572,132

$471,958

$506,820

$2,960,778

$500,000

$1,298,120

$1,137,880

$2,328,905

$500,000

$4,100,190

$3,734,454

$1,998,513

$2,000,000

'

'

$1,418,860

$1,400,000

[1]

(3) Bonds owned by ATAX TEBS II, LLC, Note 10

[2]

(1) Bonds owned by ATAX TEBS I, LLC, Note 10

[3]

(2) Bond held by Deutsche Bank in a secured financing transaction, Note 10

Investments_in_Mortgage_Revenu3

Investments in Mortgage Revenue Bonds Narrative Tagging (Details) (USD $)

3 Months Ended

6 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

9 Months Ended

3 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

12 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2010

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Mar. 31, 2015

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Heritage Square [Member]

Bruton Apartments [Member]

Live 929 Apartments [Member]

Live 929 Apartments [Member]

Autumn Pines [Member]

Autumn Pines [Member]

Harden Ranch [Member]

Decatur-Angle [Member]

Lost Creek [Member]

Lost Creek [Member]

Lost Creek [Member]

Copper Gate [Member]

Copper Gate [Member]

Tyler Park Apartments [Member]

Westside Village Market [Member]

The Palms at Premier Park [Member]

The Palms at Premier Park [Member]

The Suites on Paseo [Member]

The Suites on Paseo [Member]

Vantage at Harlingen [Member]

Vantage at Harlingen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Dublin [Member]

Kingswood [Member] [Member]

Waterford [Member]

Avistar Portfolio 1 and 2 [Member]

Rennaisance [Member]

Rennaisance [Member]

Avistar on the Boulevard [Member]

Avistar at Chase Hill [Member]

Avistar at the Crest [Member]

Avistar Portfolio [Member]

Vantage at Judson [Member]

Vantage at Judson [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series A [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series A and B [Member]

Series C [Member]

Series C [Member]

Series C [Member]

Series C [Member]

Series C [Member]

Series C [Member]

Series D [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

Effective rate - maximum [Member]

Effective rate - maximum [Member]

Effective rate - minimum [Member]

Effective rate - minimum [Member]

10% adverse [Member]

10% adverse [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Unit

Heritage Square [Member]

Harden Ranch [Member]

Tyler Park Apartments [Member]

Tyler Park Apartments [Member]

Westside Village Market [Member]

Westside Village Market [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Dublin [Member]

Kingswood [Member] [Member]

Waterford [Member]

Dublin, Kingswood and Waterford [Member]

Rennaisance [Member]

Rennaisance [Member]

Rennaisance [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar Portfolio [Member]

Avistar Portfolio [Member]

Heritage Square [Member]

Harden Ranch [Member]

Harden Ranch [Member]

Tyler Park Apartments [Member]

Tyler Park Apartments [Member]

Westside Village Market [Member]

Westside Village Market [Member]

Vantage at Harlingen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Dublin [Member]

Waterford [Member]

Dublin, Kingswood and Waterford [Member]

Rennaisance [Member]

Rennaisance [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Avistar on the Boulevard [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at Chase Hill [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar at the Crest [Member]

Avistar Portfolio [Member]

Avistar Portfolio [Member]

Vantage at Judson [Member]

Vantage at Judson [Member]

Rennaisance [Member]

Vantage at Harlingen [Member]

Dublin, Kingswood and Waterford [Member]

Rennaisance [Member]

Avistar Portfolio [Member]

Avistar Portfolio [Member]

Vantage at Judson [Member]

Vantage at Harlingen [Member]

Woodlynn Village and Avistar at the Crest [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Series B [Member]

Effective rate - maximum [Member]

Effective rate - minimum [Member]

TOB Facility-1 [Member]

TOB Facility-1 [Member]

Vantage at Harlingen [Member]

Vantage at Judson [Member]

Vantage at Harlingen [Member]

Vantage at Judson [Member]

Mortgage revenue bonds, at fair value

$53,848,411

'

'

$53,848,411

'

$68,946,370

$11,810,910

$18,100,000

$40,270,000

$40,270,000

'

'

'

$23,000,000

'

'

'

$4,967,352

'

$7,573,399

$4,996,600

$19,868,058

'

'

'

$7,232,647

$6,480,265

'

'

'

'

'

'

'

'

$13,599,570

$7,958,036

'

'

'

'

$6,610,831

$5,858,577

$11,200,000

$7,000,000

$6,100,000

'

$4,000,000

'

'

'

$7,800,000

$5,400,000

$6,700,000

'

'

'

'

'

'

$16,500,000

'

'

$10,000,000

'

'

$9,700,000

'

'

$500,000

$2,328,905

'

$2,000,000

$1,998,513

$1,400,000

$1,418,860

'

$1,298,120

$1,137,880

$600,000

$500,000

'

'

'

$506,820

$2,960,778

$500,000

$1,035,995

$1,845,883

$1,000,000

$862,960

$1,565,088

$800,000

'

'

'

'

'

$6,700,000

'

'

'

'

'

'

'

$18,000,000

'

$24,692,000

'

'

'

'

'

'

'

'

'

'

'

Number of Units in Real Estate Property

'

'

'

'

'

'

204

264

572

572

'

'

100

302

'

'

'

128

'

88

81

240

'

384

'

288

'

'

'

'

'

156

129

133

'

208

'

344

232

200

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Settlement Liabilities, Current

'

'

'

'

'

'

'

'

35,000,000

35,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payments to Acquire Available-for-sale Securities

'

'

'

107,770,827

72,752,000

'

'

'

5,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

6.00%

5.78%

5.78%

'

'

'

5.75%

'

'

'

6.25%

'

'

'

6.25%

'

6.25%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12.00%

'

'

6.00%

5.75%

5.75%

'

5.75%

'

'

'

'

'

'

6.00%

6.00%

'

'

'

'

'

'

'

'

'

'

'

'

6.00%

12.00%

5.50%

8.00%

5.50%

'

5.50%

'

6.00%

'

'

'

'

9.00%

12.00%

'

'

'

'

'

'

'

'

'

'

'

9.00%

'

0.00%

'

9.00%

9.00%

12.00%

9.00%

9.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-for-sale Security, Maturity Date at a point in time

'

'

'

'

'

'

'

1-Aug-54

'

1-Jul-49

'

'

'

1-Jan-54

'

'

'

1-Dec-29

'

'

'

1-Jan-50

'

1-Dec-48

'

1-Aug-53

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Jan-30

'

1-Jan-30

'

'

'

'

'

'

1-Aug-50

'

'

'

'

'

'

'

'

'

'

'

'

1-Mar-50

'

1-Oct-51

1-Mar-16

'

1-Jan-16

'

1-Jan-16

'

'

'

'

'

'

1-Sep-50

'

'

'

'

'

'

'

'

'

'

'

1-Apr-50

'

'

'

1-Jun-30

1-Aug-53

1-Sep-50

1-Jun-15

1-Apr-50

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Jul-14

'

Loans Payable

15,921,798

'

'

15,921,798

'

15,102,229

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,080,969

1,005,642

'

'

'

'

'

526,000

'

'

'

'

'

282,731

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-for-sale Securities, at Par Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,700,000

8,600,000

3,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000

831,000

2,900,000

804,000

804,000

6,049,000

1,300,000

'

'

20,638,000

'

26,687,000

'

'

'

'

'

'

'

'

'

'

Available-for-sale Securities, Amortized Cost Basis, Held in Trust

319,314,132

'

'

319,314,132

'

219,511,490

'

18,145,000

[1]

40,904,962

[1]

40,904,962

[1]

'

12,147,873

[1]

'

23,000,000

[1]

'

15,883,084

[2]

15,900,000

'

5,220,000

[3]

'

'

'

20,152,000

[3]

35,750,000

[1]

35,750,000

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,960,000

[3]

'

6,075,000

[3]

'

3,970,000

[3]

8,384,000

[3]

8,437,501

[1]

'

'

'

'

'

'

'

16,525,000

[3]

13,760,000

[1]

'

10,000,000

[3]

8,960,000

[1]

'

9,700,000

[3]

8,759,000

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cost adjusted for pay-downs

50,624,261

'

'

50,624,261

'

71,040,881

11,705,000

'

'

'

'

'

'

'

'

'

'

5,220,000

'

8,100,000

5,400,000

20,152,000

'

'

'

6,692,000

6,692,000

'

'

'

'

'

'

'

'

12,675,000

7,975,000

'

'

'

'

6,049,000

6,049,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,340,000

'

'

2,025,000

'

1,430,000

'

946,201

948,291

'

'

'

'

'

451,000

3,216,000

'

965,000

2,005,000

'

759,000

1,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-For-Sale Securities, Gross Unrealized Loss MTM

48,722

'

'

48,722

'

2,434,964

0

'

'

'

'

'

'

'

'

'

'

252,648

'

526,601

403,400

283,942

'

'

'

0

211,735

'

'

'

'

'

'

'

'

0

16,964

'

'

'

'

0

190,423

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11,095

'

'

26,487

'

11,140

839,000

0

0

'

'

'

'

'

0

255,222

'

0

159,117

'

0

134,912

'

'

'

1,295,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-for-sale Securities, Held in Trust, at Par Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Limited Partners' Contributed Capital

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage revenue bonds held in trust, at fair value

350,940,711

'

'

350,940,711

'

216,371,801

'

19,295,756

[1]

45,407,644

[1]

45,407,644

[1]

'

11,952,518

[1]

'

23,543,260

[1]

'

17,626,172

[2]

18,500,000

'

5,618,704

[3]

'

'

'

22,491,849

[3]

35,747,498

[1]

38,406,940

[1]

'

'

10,200,000

[1]

9,098,751

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7,324,286

[3]

'

6,293,457

[3]

'

4,112,761

[3]

9,178,798

[3]

7,860,075

[1]

'

'

'

'

'

'

'

18,653,585

[3]

12,453,488

[1]

'

10,858,300

[3]

8,109,248

[1]

'

10,779,610

[3]

7,460,215

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Sale of Available-for-sale Securities

'

'

'

35,483,230

21,935,343

'

'

'

'

'

13,100,000

'

'

'

18,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

21,900,000

21,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-for-sale Securities, Gross Realized Gain (Loss)

'

'

'

'

'

'

'

'

'

'

900,000

'

'

'

2,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reclassification of Tier II Income

'

'

'

'

'

'

'

'

'

'

650,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Business Acquisition, Effective Date of Acquisition

'

'

'

'

'

'

'

'

'

'

1-Jun-11

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt financing

346,957,000

'

'

346,957,000

'

257,274,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

175,520,000

164,295,000

9,770,000

9,770,000

Contingent Interest Income

0

0

'

0

6,497,160

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,500,000

6,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Realized loss on taxable property loan

0

0

'

0

-4,557,741

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,600,000

4,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restructuring of Available-for-sale Securities

'

'

5,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

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'

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'

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'

'

'

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'

'

'

Effective rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

8.70%

9.80%

5.20%

6.30%

9.60%

5.50%

'

'

'

'

Adverse change rate

10.00%

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10% unrealized loss

'

'

'

$28,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

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'

'

'

'

Unrealized Loss Position for Available-for-sale Securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

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'

'

'12 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

(2) Bond held by Deutsche Bank in a secured financing transaction, Note 10

[2]

(1) Bonds owned by ATAX TEBS I, LLC, Note 10

[3]

(3) Bonds owned by ATAX TEBS II, LLC, Note 10

Public_Housing_Capital_Fund_Tr2

Public Housing Capital Fund Trusts Narrative Tagging (Details) (USD $)

9 Months Ended

9 Months Ended

3 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

LIFERS [Member]

Effective rate - minimum [Member]

Effective rate - minimum [Member]

Effective rate - minimum [Member]

Effective rate - maximum [Member]

Effective rate - maximum [Member]

Effective rate - maximum [Member]

10% adverse [Member]

10% adverse [Member]

10% adverse [Member]

10% adverse [Member]

10% adverse [Member]

Integer

Integer

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Effective rate - minimum [Member]

Effective rate - minimum [Member]

Effective rate - maximum [Member]

Effective rate - maximum [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Schedule of Available-for-sale Securities [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities

$6,665,718

$1,776,418

'

$6,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Available for Sale Securities, Public Housing Authorities

'

'

'

'

3

3

'

'

'

'

'

'

'

'

'

'

'

'

Available for Sale Securities, not Including Premiums

'

'

65,264,703

59,308,398

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-for-Sale Securities, Ownership Percentage

100.00%

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

Effective rate

'

'

'

'

'

'

'

5.20%

6.30%

4.20%

8.70%

9.80%

5.40%

'

5.50%

4.80%

9.60%

6.20%

Adverse change rate

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized Loss

'

'

'

$0

($3,844,735)

'

'

'

'

'

'

'

'

$2,300,000

'

'

'

'

Public_Housing_Capital_Fund_Tr3

Public Housing Capital Fund Trusts Information Table on Public Housing Capital Fund Trusts (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'
Principal Outstanding September 30, 2012	'	$65,264,703
Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Principal Outstanding September 30, 2012	59,308,398	'
Standard & Poor's, AA- Rating [Member] | Public Housing Capital Fund Trust I [Member] | Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Weighted Average Lives (Years)	'10 years 6 months 0 days	'12 years 9 months 0 days
Investment Rating	'AA-	'AA-
Debt, Weighted Average Interest Rate	5.33%	5.33%
Principal Outstanding September 30, 2012	25,980,780	26,406,558
Standard & Poor's, AA- Rating [Member] | Public Housing Capital Fund Trust II [Member] | Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Weighted Average Lives (Years)	'	'12 years 3 months 17 days
Investment Rating	'	'AA-
Debt, Weighted Average Interest Rate	'	4.24%
Principal Outstanding September 30, 2012	'	17,959,713
Standard & Poor's, A+ Rating [Member] | Public Housing Capital Fund Trust II [Member] | Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Weighted Average Lives (Years)	'9 years 11 months 20 days	'
Investment Rating	'A+	'
Debt, Weighted Average Interest Rate	4.24%	'
Principal Outstanding September 30, 2012	12,429,186	'
Standard & Poor's, BBB Rating [Member] | Public Housing Capital Fund Trust III [Member] | Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Weighted Average Lives (Years)	'11 years 0 months 22 days	'13 years 3 months 17 days
Investment Rating	'BBB	'BBB
Debt, Weighted Average Interest Rate	5.41%	5.41%
Principal Outstanding September 30, 2012	$20,898,432	$20,898,432

Public_Housing_Capital_Fund_Tr4

Public Housing Capital Fund Trusts Mark to Market PHC (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'
Estimated Fair Value	$60,537,086	$62,056,379
Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost adjusted for amortization of premium and discounts	59,901,571	65,901,114
Unrealized Gain	635,515	0
Unrealized Loss	0	-3,844,735
Estimated Fair Value	60,537,086	62,056,379
Public Housing Capital Fund Trust I [Member] | Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost adjusted for amortization of premium and discounts	27,449,012	27,979,527
Unrealized Gain	590,745	0
Unrealized Loss	0	-1,284,873
Estimated Fair Value	28,039,757	26,694,654
Public Housing Capital Fund Trust II [Member] | Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost adjusted for amortization of premium and discounts	11,988,272	17,486,739
Unrealized Gain	9,994	0
Unrealized Loss	0	-1,083,235
Estimated Fair Value	11,998,266	16,403,504
Public Housing Capital Fund Trust III [Member] | Public housing capital fund trusts [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Cost adjusted for amortization of premium and discounts	20,464,287	20,434,848
Unrealized Gain	34,776	0
Unrealized Loss	0	-1,476,627
Estimated Fair Value	$20,499,063	$18,958,221

MortgageBacked_Securities_Term

Mortgage-Backed Securities Terms of MBS (Details) (USD $)

Dec. 31, 2013

Sep. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Standard & Poor's, AAA Rating [Member]

Standard & Poor's, AAA Rating [Member]

Standard & Poor's, AA Rating [Member]

Standard & Poor's, AA Rating [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Schedule of Available-for-sale Securities [Line Items]

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Credit Rating

'

'

'

'

'

'

'bAAAb

[1]

'bAAAb

[1]

'bAAb

[1]

'bAAb

[1]

Available for Sale Securities, not Including Premiums

$65,264,703

$39,150,000

$3,700,000

$3,700,000

'

$31,600,000

$22,710,000

'

$16,440,000

'

Debt Instrument, Weighted Average Maturity Date

'

'

'

'

'

'

7-Oct-36

'

30-Jan-38

'

Debt, Weighted Average Interest Rate

'

'

'

'

1.20%

1.30%

4.05%

'

4.11%

'

[1]

(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.

MortgageBacked_Securities_Carr

Mortgage-Backed Securities Carrying Value of Asset (Details) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2014		Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'		'
Available-for-sale Securities, Amortized Cost Basis	$50,624,261		$71,040,881
Unrealized Gain	3,272,872		340,453
Unrealized Loss	-48,722		-2,434,964
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	38,878,702		37,845,661
Trust Portfolio--MBS Bonds [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Available-for-sale Securities, Amortized Cost Basis	40,007,533		43,801,816
Unrealized Gain	0		0
Unrealized Loss	-1,128,831		-5,956,155
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	38,878,702		37,845,661
Trust Portfolio--MBS Bonds [Member] | Standard & Poor's, AAA Rating [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Debt Instrument, Credit Rating	'bAAAb	[1]	'bAAAb	[1]
Available-for-sale Securities, Amortized Cost Basis	23,159,665		23,177,115
Unrealized Gain	0		0
Unrealized Loss	-668,960		-3,069,555
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	22,490,705		20,107,560
Trust Portfolio--MBS Bonds [Member] | Standard & Poor's, AA Rating [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Debt Instrument, Credit Rating	'bAAb	[1]	'bAAb	[1]
Available-for-sale Securities, Amortized Cost Basis	16,847,868		20,624,701
Unrealized Gain	0		0
Unrealized Loss	-459,871		-2,886,600
Available-for-sale Securities, Fair Value Disclosure, Mortgage-backed Securities	$16,387,997		$17,738,101
[1]	(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.

MortgageBacked_Securities_Narr

Mortgage-Backed Securities Narrative Tagging (Details) (USD $)

3 Months Ended

9 Months Ended

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Effective rate - minimum [Member]

Effective rate - minimum [Member]

Effective rate - maximum [Member]

Effective rate - maximum [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

10% adverse [Member]

10% adverse [Member]

10% adverse [Member]

10% adverse [Member]

10% adverse [Member]

LIFERS [Member]

LIFERS [Member]

SPEARS [Member]

SPEARS [Member]

Integer

Effective rate - minimum [Member]

Effective rate - maximum [Member]

Effective rate - minimum [Member]

Effective rate - maximum [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Effective rate - minimum [Member]

Effective rate - maximum [Member]

Tolerable Range of Difference in Valuation

'

0.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Effective rate

'

'

'

'

5.20%

6.30%

8.70%

9.80%

'

'

'

'

3.70%

4.80%

5.50%

9.60%

'

3.90%

5.20%

'

'

'

'

Adverse change rate

'

10.00%

'

'

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrealized Loss

'

($48,722)

'

($2,434,964)

'

'

'

'

($1,128,831)

'

($5,956,155)

'

'

'

'

'

($1,900,000)

'

'

'

'

'

'

Number of Available for Sale Securities, Mortgage Backed Securities

'

'

'

'

'

'

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

'

'

Payments to Acquire Mortgage Backed Securities (MBS) categorized as Available-for-sale

3,800,000

0

12,629,888

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available for Sale Securities, not Including Premiums

'

'

'

65,264,703

'

'

'

'

39,150,000

3,700,000

3,700,000

31,600,000

'

'

'

'

'

'

'

9,200,000

'

'

'

TOB Financing

'

'

'

'

'

'

'

'

$21,200,000

'

'

'

'

'

'

'

'

'

'

'

$6,500,000

$34,900,000

$25,100,000

Real_Estate_Assets_Fair_Value_

Real Estate Assets Fair Value of Acquisition (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Real estate assets	$119,499,098	$103,148,934
Total assets	736,007,873	534,233,032
Accounts payable, accrued expenses and other liabilities	7,401,339	5,450,694
Partners' Capital	301,470,948	203,134,087
Total Liabilities and Partners' Capital	736,007,873	534,233,032
Woodland Park [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Other current assets	201,321	'
In-place lease assets	403,216	'
Real estate assets	15,258,784	'
Total assets	15,863,321	'
Accounts payable, accrued expenses and other liabilities	192,345	'
Partners' Capital	15,670,976	'
Total Liabilities and Partners' Capital	$15,863,321	'

Real_Estate_Assets_Business_Co

Real Estate Assets Business Combination, Proforma Income Statement (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]	'	'	'	'
Net income (loss) allocated to unitholders	$3,438,330	$3,356,268	$12,408,450	$15,156,168
Unitholders' interest in net income (loss) per unit (basic and diluted)	$0.06	$0.08	$0.21	$0.35
Woodland Park [Member]	'	'	'	'
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]	'	'	'	'
Revenues	'	9,764,177	'	38,129,451
Net Income (loss)	'	3,411,259	'	15,688,415
Net income (loss) allocated to unitholders	'	$3,356,268	'	$15,156,732
Unitholders' interest in net income (loss) per unit (basic and diluted)	'	$0.08	'	$0.35

Real_Estate_Assets_MF_Properti

Real Estate Assets MF Properties (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Land and improvements	$11,083,192	$11,081,992
Buildings and improvements	131,479,005	111,195,695
Carrying Value at September 30, 2012	142,562,197	122,277,687
MF Property, Plant and Equipment	119,594,003	99,498,848
Accumulated Depreciation - MF Properties	-12,646,878	-9,386,811
Property, Plant and Equipment, Net	106,947,125	90,112,037
Arboretum [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	145	145
Land and improvements	1,740,754	1,739,554
Buildings and improvements	19,189,588	19,123,872
Carrying Value at September 30, 2012	20,930,342	20,863,426
Eagle Village [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	511	511
Land and improvements	567,880	567,880
Buildings and improvements	12,447,195	12,336,975
Carrying Value at September 30, 2012	13,015,075	12,904,855
Glynn Place [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	128	128
Land and improvements	743,996	743,996
Buildings and improvements	4,975,955	4,937,172
Carrying Value at September 30, 2012	5,719,951	5,681,168
Maples on 97th [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	258	258
Land and improvements	1,180,058	1,180,058
Buildings and improvements	7,797,855	7,613,668
Carrying Value at September 30, 2012	8,977,913	8,793,726
Meadowview [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	118	118
Land and improvements	688,539	688,539
Buildings and improvements	5,444,076	5,416,293
Carrying Value at September 30, 2012	6,132,615	6,104,832
Residences at DeCordova [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	110	110
Land and improvements	1,137,832	1,137,832
Buildings and improvements	7,988,270	7,965,574
Carrying Value at September 30, 2012	9,126,102	9,103,406
Residences at Weatherford [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	76	76
Land and improvements	1,927,701	1,927,701
Buildings and improvements	5,714,133	5,695,600
Carrying Value at September 30, 2012	7,641,834	7,623,301
The 50/50 Student Housing--UNL [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	475	'
Land and improvements	0	'
Buildings and improvements	32,689,619	'
Carrying Value at September 30, 2012	32,689,619	'
Woodland Park [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	236	236
Land and improvements	1,260,032	1,260,032
Buildings and improvements	14,100,520	14,033,777
Carrying Value at September 30, 2012	15,360,552	15,293,809
Construction in Progress [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Land and improvements	'	0
Buildings and improvements	'	13,130,325
Carrying Value at September 30, 2012	'	$13,130,325

Real_Estate_Assets_Parenthetic

Real Estate Assets Parenthetical for Depreciation Expense (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended	12 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013
					Consolidated Entities [Member]	Consolidated Entities [Member]	Consolidated Entities [Member]	Consolidated VIEs [Member]	Consolidated VIEs [Member]	Consolidated VIEs [Member]
Property, Plant and Equipment [Line Items]	'	'	'	'	'	'	'	'	'	'
Depreciation	$1,513,322	$1,374,703	$4,026,079	$3,829,888	$1,300,000	$3,300,000	$3,800,000	$236,000	$702,000	$1,400,000

Real_Estate_Assets_Variable_In

Real Estate Assets Variable Interest Entities (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Land and improvements	$11,083,192	$11,081,992
Buildings and improvements	131,479,005	111,195,695
Carrying Value at September 30, 2012	142,562,197	122,277,687
VIE Property, Plant and Equipment, Gross	22,968,194	22,778,839
Accumulated Depreciation - VIES	-10,416,221	-9,741,942
VIE Property Property, Plant and Equipment, Net	12,551,973	13,036,897
Bent Tree [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	232	232
Land and improvements	986,000	986,000
Buildings and improvements	12,226,825	12,097,419
Carrying Value at September 30, 2012	13,212,825	13,083,419
Fairmont Oaks [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Number of Units	178	178
Land and improvements	850,400	850,400
Buildings and improvements	8,904,969	8,845,020
Carrying Value at September 30, 2012	$9,755,369	$9,695,420

Real_Estate_Assets_Narrative_T

Real Estate Assets Narrative Tagging (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
				Limited Liability Company [Member]	General Partner [Member]	Consolidated Properties [Member]	Consolidated Properties [Member]	Woodland Park [Member]	Construction in Progress [Member]	Construction in Progress [Member]
				properties		properties	Limited Partner [Member]		parkingstalls	parkingstalls
							properties		Unit	Unit
Noncontrolling Interest, Ownership Percentage by Parent	'	'	'	100.00%	'	'	99.00%	'	'	'
Number of Real Estate Properties	'	'	'	'	'	9	3	'	'	'
Number of Limited Liability Companies	'	'	'	6	'	'	'	'	'	'
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	'	'	25.00%	'	1.00%	'	'	'	'	'
Real Estate Acquired Through Foreclosure	'	'	'	'	'	'	'	$15,700,000	'	'
Operating Leases, Rent Expense	'	'	'	'	'	'	'	'	'	100
Number of Parking Stalls	'	'	'	'	'	'	'	'	1,605	1,605
Number of Units in Real Estate Property	'	'	'	'	'	'	'	'	475	475
Third Party Contribution to Building	'	'	'	'	'	'	'	'	16,700,000	'
Estimated Total Cost of Construction	'	'	'	'	'	'	'	'	'	33,800,000
Estimated Debt of Construction	'	'	'	'	'	'	'	'	'	25,500,000
Mortgages payable	72,585,842	57,087,320	'	'	'	'	'	'	4,300,000	4,300,000
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	'	'	'	'	'	'	'	'	'	4.70%
Proceeds from Construction Loans Payable	'	'	'	'	'	'	'	'	'	$25,500,000

Other_Assets_Other_Assets_Deta

Other Assets Other Assets (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Other Assets [Abstract]	'	'
Property loans receivable	$22,214,738	$21,549,927
Less: Loan loss reserves	-7,098,814	-7,023,814
Deferred Finance Costs, Net	4,897,466	2,503,679
Fair value of derivative contracts	1,507,302	888,120
Taxable bonds at fair market value	4,544,470	4,075,953
Assets Held-for-sale, Long Lived	1,482,184	1,465,000
Bond Purchase Commitment - Fair Market Value Adjustment	2,968,941	0
Other assets	991,727	899,426
Total other assets	$31,508,014	$24,358,291

Other_Assets_Loan_Receivable_a

Other Assets Loan Receivable and Allowance (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	$22,214,738	$21,549,927
Accrued interest	7,882,149	6,770,593
Loan loss reserves	-7,098,814	-7,023,814
Interest Allowance	-7,076,275	-6,194,477
Net taxable loans	15,921,798	15,102,229
Arbors at Hickory Ridge [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	191,264	191,264
Accrued interest	22,703	12,979
Loan loss reserves	0	0
Interest Allowance	0	0
Net taxable loans	213,967	204,243
Ashley Square [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	5,078,342	5,078,342
Accrued interest	2,314,530	2,053,415
Loan loss reserves	-3,596,342	-3,596,342
Interest Allowance	-2,314,530	-2,053,415
Net taxable loans	1,482,000	1,482,000
Avistar Portfolio [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	274,496	'
Accrued interest	8,235	'
Loan loss reserves	0	'
Interest Allowance	0	'
Net taxable loans	282,731	'
Avistar Portolio-2 [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	251,622	'
Accrued interest	7,549	'
Loan loss reserves	0	'
Interest Allowance	0	'
Net taxable loans	259,171	'
Cross Creek [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	6,946,087	6,821,087
Accrued interest	2,019,041	1,825,389
Loan loss reserves	-3,447,472	-3,372,472
Interest Allowance	-2,019,041	-1,825,389
Net taxable loans	3,498,615	3,448,615
Greens of Pine Glen [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	876,000	876,000
Accrued interest	207,959	130,563
Loan loss reserves	0	0
Interest Allowance	-2,990	-921
Net taxable loans	1,080,969	1,005,642
Foundation for Affordable Housing [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	1,587,776	1,603,083
Accrued interest	4,006	13,989
Loan loss reserves	0	0
Interest Allowance	0	0
Net taxable loans	1,591,782	1,617,072
Lake Forest [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	4,618,704	4,618,704
Accrued interest	2,484,191	2,148,881
Loan loss reserves	-55,000	-55,000
Interest Allowance	-2,463,356	-2,128,046
Net taxable loans	4,584,539	4,584,539
Ohio Properties [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Property loan receivable, outstanding balance	2,390,447	2,361,447
Accrued interest	813,935	585,377
Loan loss reserves	0	0
Interest Allowance	-276,358	-186,706
Net taxable loans	$2,928,024	$2,760,118

Other_Assets_Schedule_of_Loan_

Other Assets Schedule of Loan Receivable (Details) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Loans and Leases Receivable, at beginning of period	$7,023,814	$12,272,671	$12,272,671
Provision for Loan Losses Expensed	75,000	'	168,000
Deconsolidation of VIEs	0	'	55,000
Foreclosure of Available-for-Sale Securities	'	0	'
Loans and Leases Receivable, at end of period	7,098,814	'	7,023,814
Iona Lakes [Member]	'	'	'
Allowance for Doubtful Accounts Receivable	0	'	4,557,741
Woodland Park [Member]	'	'	'
Foreclosure of Available-for-Sale Securities	$0	'	$914,116

Other_Assets_Narrative_Tagging

Other Assets Narrative Tagging (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Avistar Portfolio 1 and 2 [Member]

Foundation for Affordable Housing [Member]

Foundation for Affordable Housing [Member]

Vantage at Harlingen [Member]

Avistar Portolio-2 [Member]

Avistar Portfolio [Member]

Cross Creek [Member]

Cross Creek [Member]

Cross Creek [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ashley Square [Member]

Ashley Square [Member]

Ashley Square [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Series C [Member]

Series C [Member]

Series C [Member]

Series C [Member]

Unit

Unit

Vantage at Harlingen [Member]

Avistar Portolio-2 [Member]

Avistar Portfolio [Member]

Avistar Portfolio [Member]

Loans Payable

$15,921,798

'

$15,921,798

'

$15,102,229

$526,000

$1,591,782

$1,617,072

'

$259,171

$282,731

'

$3,498,615

$3,448,615

$2,928,024

$2,760,118

'

$1,482,000

$1,482,000

'

'

'

'

'

'

'

'

Proceeds from Sale of Available-for-sale Securities

'

'

35,483,230

21,935,343

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

21,900,000

21,900,000

'

'

'

'

'

Property loans receivable

22,214,738

'

22,214,738

'

21,549,927

'

1,587,776

1,603,083

'

251,622

274,496

'

6,946,087

6,821,087

2,390,447

2,361,447

'

5,078,342

5,078,342

'

'

'

'

'

'

'

'

Number of Units in Real Estate Property

'

'

'

'

'

'

'

96

288

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

9.00%

'

'

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

9.00%

9.00%

9.00%

9.00%

Debt Instrument, Maturity Date

'

'

'

'

'

'

'

'

'

'

26-Jun-24

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-for-sale Security, Maturity Date at a point in time

'

'

'

'

'

'

'

'

1-Aug-53

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Aug-53

1-Sep-50

1-Apr-50

'

Available-for-sale Securities, at Par Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000

831,000

804,000

804,000

Advances to Affiliate

'

'

'

'

'

'

'

'

'

'

'

'

125,000

'

29,000

'

44,000

'

'

164,000

'

'

168,000

'

'

'

'

Contingent Interest Income

0

0

0

6,497,160

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,500,000

6,500,000

'

'

'

'

'

Realized loss on taxable property loan

0

0

0

-4,557,741

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,600,000

4,600,000

'

'

'

'

'

Impairment of Intangible Assets (Excluding Goodwill)

'

'

'

'

'

'

'

'

'

'

'

$168,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discontined_Operations_Narrati

Discontined Operations Narrative Tagging (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Boston Capital Limited Partners [Member]

Series A [Member]

Series B [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

limited

Limited Partners' Contributed Capital

'

'

'

'

$6,500,000

'

'

$800,000

'

'

$961,000

'

'

'

Gain (Loss) on Sale of Properties

'

'

0

3,177,183

1,775,527

'

'

1,401,656

'

'

'

'

'

'

Investment Income, Interest

'

'

'

'

3,500,000

'

'

500,000

'

'

'

'

'

'

Interest Income, Operating

222,074

216,993

672,974

1,558,158

1,100,000

'

'

'

'

'

'

'

'

'

Other income

188,000

0

188,000

250,000

250,000

'

'

188,000

'

'

'

'

'

'

Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

0

1,342,498

0

3,442,404

'

0

138,000

'

'

'

'

'

'

'

Limited Partners

'

'

'

'

'

'

'

'

'

'

'

2

'

'

business disposal, sales price

'

'

'

'

'

'

'

'

'

'

7,300,000

'

'

'

Available-for-Sale Securities, Asset Ownership

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

Available-for-sale Securities, at Par Value

'

'

'

'

'

'

'

'

'

'

'

'

8,500,000

950,000

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

'

'

'

'

'

6.50%

12.00%

Available-for-sale Security, Maturity Date at a point in time

'

'

'

'

'

'

'

'

'

'

1-Oct-47

'

'

'

Loans Payable

'

'

'

'

'

'

'

'

'

'

850,000

'

'

'

Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax

'

'

'

'

'

'

'

'

($59,000)

($265,000)

'

'

'

'

Debt_Financing_Debt_Financing_

Debt Financing Debt Financing (Details) (USD $)

Sep. 30, 2014

Jul. 01, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Lost Creek [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

Ashley Square [Member]

Ashley Square [Member]

Bella Vista [Member]

Bella Vista [Member]

Bent Tree [Member]

Bent Tree [Member]

Bridle Ridge [Member]

Bridle Ridge [Member]

Brookstone [Member]

Brookstone [Member]

Cross Creek [Member]

Cross Creek [Member]

Fairmont Oaks [Member]

Fairmont Oaks [Member]

Lake Forest [Member]

Lake Forest [Member]

Runnymede [Member]

Runnymede [Member]

Southpark [Member]

Southpark [Member]

Woodlynn Village [Member]

Woodlynn Village [Member]

Lost Creek [Member]

Lost Creek [Member]

Series A [Member]

Series A [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Consolidated VIEs [Member]

Consolidated VIEs [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Consolidated VIEs [Member]

Consolidated VIEs [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available for Sale Securities at Par Value

$118,360,000

$118,372,000

$15,700,000

$103,849,243

$122,536,536

$5,174,000

$5,212,000

$6,490,000

$6,545,000

$7,486,000

$7,542,000

$7,655,000

$7,715,000

$9,277,079

$9,338,603

$8,442,164

$8,497,933

$7,290,000

$7,355,000

$8,916,000

$8,997,000

$10,485,000

$10,525,000

$13,795,000

$13,795,000

$4,408,000

$4,426,000

$0

$18,090,000

$14,431,000

[1]

$14,498,000

[1]

[1]

(1) Collateralized by Crescent Village, Postwoods, and Willow Bend (Note 2 and Note 9)

Debt_Financing_Contractual_Mat

Debt Financing Contractual Maturities (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Debt Financing, Current Maturities	$94,128,329	'
Debt Financing, Maturities, Repayment of Principal in Year Two	9,767,864	'
Debt Financing, Maturities, Repayments of Principal in Year Three	24,229,702	'
Debt Financing, Maturities, Repayments of Principal in Year Four	92,734,657	'
Debt Financing, Maturities, Repayments of Principal in Year Five	1,242,462	'
Debt Financing, Maturities, Repayments of Principal after Year Five	124,853,986	'
Debt financing	$346,957,000	$257,274,000

Debt_Financing_Total_Debt_Fina

Debt Financing Total Debt Financing (Details) (USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Mortgage Backed Security Trust 1 [Member]

Mortgage Backed Security Trust 1 [Member]

Mortgage Backed Security Trust 2 [Member]

Mortgage Backed Security Trust 2 [Member]

Mortgage Backed Security Trust 3 [Member]

Mortgage Backed Security Trust 3 [Member]

Mortgage Backed Security Trust 4 [Member]

Mortgage Backed Security Trust 4 [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 6 [Member]

Mortgage Backed Security Trust 6 [Member]

TOB facility-2 [Member]

TOB facility-2 [Member]

TOB Facility-1 [Member]

TOB Facility-1 [Member]

TOB facility-7 [Member]

TOB facility-5 [Member]

TOB facility-6 [Member]

TOB facility-8 [Member]

TOB facility-9 [Member]

TOB facility-9 [Member]

TOB Facility-12 [Member] [Member]

TOB Facility-12 [Member] [Member]

TOB Facility-10 [Member]

TOB Facility-10 [Member]

TOB Facility-11 [Member]

TOB Facility-11 [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

Short-term Debt [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt financing

$346,957,000

$257,274,000

$175,520,000

$164,295,000

$44,675,000

$48,995,000

$9,770,000

$9,770,000

$20,000,000

[1]

$5,700,000

$7,000,000

$13,210,000

[1]

$25,750,000

$25,750,000

$17,250,000

$17,250,000

$21,850,000

$21,850,000

$34,990,000

$34,990,000

$2,585,000

$2,585,000

$4,090,000

$4,090,000

$2,865,000

$2,900,000

$5,960,000

$5,960,000

$10,545,000

$10,545,000

$7,825,000

$7,825,000

Available-for-sale Security, Maturity Date at a point in time

'

'

'

'

1-Dec-14

1-Jun-14

1-Jul-14

'

1-Jun-14

[1]

1-Jun-14

1-Aug-14

1-Oct-14

[1]

1-Dec-14

1-Dec-14

1-Jul-17

1-Jul-17

1-Oct-16

1-Oct-16

1-Jul-19

1-Jul-19

1-Oct-14

1-Apr-14

1-Oct-14

1-Apr-14

1-Apr-14

'

1-Oct-14

1-Apr-14

1-Oct-14

1-Apr-14

1-Feb-15

1-Aug-14

[1]

Description of the Tender Option Bond FinancingsB Outstanding Debt Financing at December 31, 2013B Stated Maturity PHC Certificates-TOB TrustB $48,995,000B June 2014Autumn Pines-TOB TrustB 9,770,000B July 2014MBS - TOB Trust 1B 2,585,000B April 2014MBS - TOB Trust 2B 4,090,000B April 2014MBS - TOB Trust 3B 2,865,000B April 2014MBS - TOB Trust 4B 5,960,000B April 2014MBS - TOB Trust 5B 10,545,000B April 2014Greens of Pine Glen - TOB TrustB 5,700,000B June 2014Arbors of Hickory Ridge - TOB TrustB 7,000,000B August 2014MBS - TOB Trust 6B 7,825,000B August 2014Avistar (February 2013 portfolio) - TOB Trust (1)B 20,000,000B June 2014Avistar (June 2013 portfolio) - TOB Trust (2)B 13,210,000B October 2014The Suites on Paseo - TOB TrustB 25,750,000B December 2014B Total Debt FinancingB $164,295,000

Debt_Financing_Narrative_Taggi

Debt Financing Narrative Tagging (Details) (USD $)

9 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Jul. 01, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Jul. 01, 2014

Sep. 30, 2014

Jul. 01, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Jun. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2010

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2010

Dec. 31, 2010

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Five Points Bank [Member]

Bankers Trust [Member]

TOB Facility [Member]

TOB facility-2 [Member]

TOB Facility-1 [Member]

TEBS II Facility [Member]

TEBS II Facility [Member]

TEBS II Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

TEB Facility [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Avistar Portfolio [Member]

Arbors at Hickory Ridge [Member]

Arbors at Hickory Ridge [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Georgia MBS Bonds [Member]

Autumn Pines [Member]

Autumn Pines [Member]

Lost Creek [Member]

Lost Creek [Member]

Lost Creek [Member]

LIFERS [Member]

LIFERS [Member]

LIFERS [Member]

LIFERS [Member]

SPEARS [Member]

SPEARS [Member]

SPEARS [Member]

SPEARS [Member]

SPEARS [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 6 [Member]

Mortgage Backed Security Trust 6 [Member]

Mortgage Backed Security Trust 6 [Member]

Mortgage Backed Security Trust 3 [Member]

Mortgage Backed Security Trust 3 [Member]

Class A TEBS Certificates [Member]

Class B TEBS Certificates [Member]

Series B [Member]

Series B [Member]

Series B [Member]

collateralized_bonds

Integer

Integer

TOB facility-9 [Member]

TOB facility-9 [Member]

TOB facility-8 [Member]

TOB Facility-10 [Member]

TOB Facility-10 [Member]

TOB Facility-10 [Member]

TOB facility-2 [Member]

TOB facility-2 [Member]

TOB Facility-1 [Member]

TOB Facility-1 [Member]

TOB Facility-12 [Member] [Member]

TOB Facility-12 [Member] [Member]

TOB Facility-11 [Member]

TOB Facility-11 [Member]

Integer

Trust Portfolio--MBS Bonds [Member]

TOB Facility [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Georgia MBS Bonds [Member]

TOB Facility [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Public housing capital fund trusts [Member]

Georgia MBS Bonds [Member]

Trading Securities [Member]

Trading Securities [Member]

Trust Portfolio--MBS Bonds [Member]

LIFERS [Member]

SPEARS [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

Trading Securities [Member]

TEB Facility [Member]

TEB Facility [Member]

TEBS II Facility [Member]

Avistar Portfolio [Member]

Avistar Portfolio [Member]

Integer

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

TOB facility-3 [Member]

Debt financing

$346,957,000

'

'

$257,274,000

'

'

'

'

'

'

$94,700,000

'

$77,200,000

'

'

$175,520,000

$164,295,000

$25,750,000

$25,750,000

$13,210,000

[1]

$21,850,000

$21,850,000

'

$44,675,000

$48,995,000

$9,770,000

$9,770,000

$17,250,000

$17,250,000

$34,990,000

$34,990,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$10,545,000

$10,545,000

'

'

'

$7,825,000

$7,825,000

'

$2,865,000

$2,900,000

$95,800,000

$20,300,000

'

'

'

Debt Instrument, Maturity Date

'

'

'

'

1-Mar-15

1-Mar-16

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

26-Jun-24

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

TOB Financing

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25,800,000

13,200,000

21,900,000

21,900,000

17,300,000

'

'

'

'

17,300,000

17,300,000

35,000,000

35,000,000

'

'

21,200,000

'

'

'

'

20,000,000

7,000,000

'

'

'

5,800,000

'

'

'

'

'

'

'

'

6,500,000

2,200,000

'

34,900,000

25,100,000

'

7,800,000

'

'

2,500,000

540,000

2,000,000

'

'

'

'

'

'

'

'

'

'

Available for Sale Securities, not Including Premiums

'

'

'

65,264,703

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31,600,000

'

39,150,000

3,700,000

3,700,000

59,308,398

'

'

'

'

'

'

'

10,000,000

'

'

'

'

'

'

9,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Available for Sale Securities, Mortgage Backed Securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Short-term Debt, Percentage Bearing Fixed Interest Rate

'

'

'

'

'

'

'

'

'

'

1.40%

1.40%

'

'

'

'

'

'

1.60%

'

'

'

'

'

'

'

'

'

'

'

'

0.90%

0.90%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.90%

'

'

'

'

'

'

'

Debt Instrument, Basis Spread on Variable Rate

'

'

'

'

'

'

'

'

'

0.00%

0.00%

'

1.90%

'

'

'

'

'

0.40%

'

'

'

'

'

'

'

'

'

'

'

'

0.40%

0.30%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.30%

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.10%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

9.00%

Debt, Weighted Average Interest Rate

'

'

'

'

'

'

'

2.40%

0.90%

'

'

'

'

'

2.00%

'

'

'

'

'

4.30%

4.30%

'

'

'

'

'

4.60%

4.60%

4.40%

4.40%

1.30%

1.20%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.20%

'

'

'

'

'

'

'

'

'

Available-for-sale Security, Maturity Date at a point in time

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Dec-14

1-Dec-14

1-Oct-14

[1]

1-Oct-16

1-Oct-16

'

1-Dec-14

1-Jun-14

1-Jul-14

'

1-Jul-17

1-Jul-17

1-Jul-19

1-Jul-19

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Oct-14

1-Apr-14

'

'

'

1-Feb-15

1-Aug-14

'

1-Apr-14

'

'

'

'

1-Apr-50

'

Cash Collateral for Borrowed Securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities

6,665,718

1,776,418

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Public housing capital fund trusts, at fair value

60,537,086

'

'

62,056,379

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

60,537,086

62,056,379

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

44,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Total Rate of Borrowing

'

'

'

'

'

'

'

'

'

'

1.40%

1.50%

'

'

'

'

'

'

2.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity

'

'

'

'

5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Interest Rate During Period

'

'

'

'

3.50%

3.40%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Available for Sale Securities, Held in a Trust

'

'

'

'

'

'

4

'

'

'

13

'

13

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage revenue bonds held in trust, at fair value

350,940,711

'

'

216,371,801

'

'

'

'

'

'

118,372,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13,102,357

[2]

11,801,899

[3]

10,200,000

[4]

9,098,751

[4]

'

'

'

11,952,518

[4]

'

17,626,172

[3]

18,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

23,700,000

'

'

Proceeds from Sale of Available-for-sale Securities

35,483,230

21,935,343

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13,100,000

'

18,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available for Sale Securities at Par Value, held in trust

118,360,000

'

118,372,000

'

'

'

'

'

'

'

'

'

103,849,243

122,536,536

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Sale of Available-for-sale Securities, Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

26,500,000

'

'

'

45,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Collateralized Bonds

'

'

'

'

'

'

10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Financing, Net

'

'

'

'

'

'

'

'

'

'

91,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payments to Acquire Available-for-sale Securities

107,770,827

72,752,000

'

'

'

'

'

'

'

'

72,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted Cash and Cash Equivalents

'

'

'

'

'

'

'

'

'

'

6,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Asset, Notional Amount

$93,300,000

'

'

'

'

'

'

'

'

'

'

$31,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative, Fixed Interest Rate

3.00%

'

'

'

'

'

'

'

'

'

'

3.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative, Maturity Date at a point in time

1-Sep-17

'

'

'

'

'

'

'

'

15-Aug-19

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Description of the Tender Option Bond FinancingsB Outstanding Debt Financing at December 31, 2013B Stated Maturity PHC Certificates-TOB TrustB $48,995,000B June 2014Autumn Pines-TOB TrustB 9,770,000B July 2014MBS - TOB Trust 1B 2,585,000B April 2014MBS - TOB Trust 2B 4,090,000B April 2014MBS - TOB Trust 3B 2,865,000B April 2014MBS - TOB Trust 4B 5,960,000B April 2014MBS - TOB Trust 5B 10,545,000B April 2014Greens of Pine Glen - TOB TrustB 5,700,000B June 2014Arbors of Hickory Ridge - TOB TrustB 7,000,000B August 2014MBS - TOB Trust 6B 7,825,000B August 2014Avistar (February 2013 portfolio) - TOB Trust (1)B 20,000,000B June 2014Avistar (June 2013 portfolio) - TOB Trust (2)B 13,210,000B October 2014The Suites on Paseo - TOB TrustB 25,750,000B December 2014B Total Debt FinancingB $164,295,000

[2]

(3) Bonds owned by ATAX TEBS II, LLC, Note 10

[3]

(1) Bonds owned by ATAX TEBS I, LLC, Note 10

[4]

(2) Bond held by Deutsche Bank in a secured financing transaction, Note 10

Debt_Financing_2014_TEBS_Finan

Debt Financing 2014 TEBS Financing (Details) (USD $)	Sep. 30, 2014	Jul. 01, 2014
Available for Sale Securities at Par Value, held in trust	$118,360,000	$118,372,000
Mortgage revenue bonds [Member] | Arbors at Hickory Ridge [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	11,450,000	11,450,000
Mortgage revenue bonds [Member] | Avistar on the Hills [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	5,389,000	5,389,000
Mortgage revenue bonds [Member] | Copper Gate [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	5,220,000	5,220,000
Mortgage revenue bonds [Member] | The Palms at Premier Park [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	20,152,000	20,152,000
Series A [Member] | Mortgage revenue bonds [Member] | Avistar at Chase Hill [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	10,000,000	10,000,000
Series A [Member] | Mortgage revenue bonds [Member] | Avistar at the Crest [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	9,700,000	9,700,000
Series A [Member] | Mortgage revenue bonds [Member] | Avistar at the Oaks [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	7,800,000	7,800,000
Series A [Member] | Mortgage revenue bonds [Member] | Avistar in 09 [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	6,735,000	6,735,000
Series A [Member] | Mortgage revenue bonds [Member] | Avistar on the Boulevard [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	16,525,000	16,525,000
Series A [Member] | Mortgage revenue bonds [Member] | Greens of Pine Glen [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	8,384,000	8,396,000
Series A [Member] | Mortgage revenue bonds [Member] | Harden Ranch [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	6,960,000	6,960,000
Series A [Member] | Mortgage revenue bonds [Member] | Tyler Park Apartments [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	6,075,000	6,075,000
Series A [Member] | Mortgage revenue bonds [Member] | Westside Village Market [Member] | TEBS II Facility [Member]	'	'
Available for Sale Securities at Par Value, held in trust	$3,970,000	$3,970,000

Mortgages_Payable_Mortgages_Pa

Mortgages Payable Mortgages Payable (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Mortgages Payable [Abstract]	'	'
Long-term Debt, Current Maturities	$277,971	'
Long-term Debt, Maturities, Repayments of Principal in Year Two	9,175,372	'
Long-term Debt, Maturities, Repayments of Principal in Year Three	8,064,399	'
Long-term Debt, Maturities, Repayments of Principal in Year Four	29,568,099	'
Long-term Debt, Maturities, Repayments of Principal in Year Five	0	'
Long-term Debt, Maturities, Repayments of Principal after Year Five	25,500,001	'
Mortgages Payable	$72,585,842	$57,087,320

Mortgages_Payable_Footnote_Tag

Mortgages Payable Footnote Tagging (Details) (USD $)

9 Months Ended

9 Months Ended

3 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Consolidated Properties [Member]

Consolidated Properties [Member]

Woodland Park [Member]

Maples on 97th [Member]

Maples on 97th [Member]

Glynn Place [Member]

5 year term [Member]

3 year term [Member]

Construction in Progress [Member]

Construction in Progress [Member]

Construction in Progress [Member]

Repayments of Long-term Debt

$79,112,000

$1,479,000

'

'

'

'

'

'

$1,900,000

'

'

'

Mortgages payable

72,585,842

'

57,087,320

72,600,000

57,100,000

'

7,500,000

'

'

'

'

4,300,000

Notes Payable, Current

'

'

'

'

'

7,000,000

'

'

'

'

'

'

Proceeds from Notes Payable

'

'

'

'

'

6,000,000

'

'

'

'

'

'

Debt Instrument, Face Amount

'

'

'

'

'

'

'

'

'

4,300,000

25,500,000

25,500,000

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

2.80%

4.40%

3.60%

'

4.70%

'

'

Short-term Debt, Percentage Bearing Variable Interest Rate

'

'

'

'

'

0.20%

'

'

'

'

'

'

Debt, Weighted Average Interest Rate

'

'

'

'

'

3.00%

'

'

'

'

'

'

Proceeds from Construction Loans Payable

'

'

'

'

'

'

'

'

'

'

'

$25,500,000

Long Term Debt, Maturity date at a point in time

'

'

'

'

'

'

10-Feb-16

'

'

'

'

'

Transactions_with_Related_Part1

Transactions with Related Parties Narrative Tagging (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
					properties
rate for administration fees	'	'	0.45%	'	'
Fees and Commissions, Other	$397,000	$338,000	$1,100,000	$1,200,000	'
Management Fees Revenue	315,000	300,000	948,000	907,000	'
Placement Advisory Fees	'	'	607,000	379,000	'
Number of Variable Interest Entities	'	'	'	'	5
Majority-Owned Subsidiary, Unconsolidated [Member]	'	'	'	'	'
Payment for Administrative Fees	536,000	388,000	1,500,000	1,100,000	'
Affiliated Entity [Member]	'	'	'	'	'
Payment for Administrative Fees	17,000	33,000	51,000	99,000	'
Consolidated VIEs [Member]	'	'	'	'	'
Number of Real Estate Properties	2	'	2	'	'
Number of Variable Interest Entities	2	'	2	'	'
MF Properties [Member]	'	'	'	'	'
Number of Real Estate Properties	6	'	6	'	'
UNL Project [Member]	'	'	'	'	'
Fees and Commissions	500,000	'	668,000	588,000	'
Total Owners [Member]	'	'	'	'	'
Number of Owners	4	'	4	'	'
Total Owners [Member] | Related party owner [Member]	'	'	'	'	'
Number of Owners	2	'	2	'	'
Total Owners [Member] | Consolidated VIEs [Member]	'	'	'	'	'
Number of Variable Interest Entities	2	'	2	'	'
TEBS II Facility [Member]	'	'	'	'	'
Placement Advisory Fees	'	'	$1,100,000	'	'

Issuances_of_Additional_Benefi1

Issuances of Additional Beneficial Certificate Units Additional BUCs(Details) (USD $)	9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Class of Stock [Line Items]	'	'	'
Common Stock, Shares Authorized	'	'	225,000,000
Common Stock shares, issued	9,200,000	'	8,280,000
Sale Price of Common Stock per Share	$5.95	'	$6.25
Proceeds from Issuance of Common Stock	$51,288,699	'	$48,200,000
Payments of Stock Issuance Costs	$3,451,301	$0	$3,500,000

Interest_Rate_Derivative_Agree2

Interest Rate Derivative Agreements (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Derivative [Line Items]	'
Derivative Asset, Notional Amount	$93,300,000
Derivative, Fixed Interest Rate	3.00%
Derivative, Maturity Date at a point in time	1-Sep-17
Deriviative at purchase price	800,000
Bank of New York Mellon [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	2-Sep-10
Derivative Asset, Notional Amount	31,936,667
Derivative, Fixed Interest Rate	3.00%
Derivative, Maturity Date at a point in time	1-Sep-17
Deriviative at purchase price	921,000
Barclays Bank PLC [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	2-Sep-10
Derivative Asset, Notional Amount	31,936,667
Derivative, Fixed Interest Rate	3.00%
Derivative, Maturity Date at a point in time	1-Sep-17
Deriviative at purchase price	845,600
Royal Bank of Canada [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	2-Sep-10
Derivative Asset, Notional Amount	31,936,667
Derivative, Fixed Interest Rate	3.00%
Derivative, Maturity Date at a point in time	1-Sep-17
Deriviative at purchase price	928,000
Deutsche Bank [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	15-Aug-13
Derivative Asset, Notional Amount	93,305,000
Derivative, Fixed Interest Rate	1.50%
Derivative, Maturity Date at a point in time	1-Sep-17
Deriviative at purchase price	793,000
SMBC Capital Markets, Inc [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	18-Feb-14
Derivative Asset, Notional Amount	41,250,000
Derivative, Fixed Interest Rate	1.00%
Derivative, Maturity Date at a point in time	1-Mar-17
Deriviative at purchase price	230,500
SMBC Capital Markets, Inc-2 [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	18-Feb-14
Derivative Asset, Notional Amount	28,750,000
Derivative, Fixed Interest Rate	1.00%
Derivative, Maturity Date at a point in time	1-Mar-17
Deriviative at purchase price	161,000
Barclays Bank PLC 1 [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	10-Jul-14
Derivative Asset, Notional Amount	31,565,000
Derivative, Fixed Interest Rate	3.00%
Derivative, Maturity Date at a point in time	15-Aug-19
Deriviative at purchase price	315,200
Royal Bank of Canada-2 [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	10-Jul-14
Derivative Asset, Notional Amount	31,565,000
Derivative, Fixed Interest Rate	3.00%
Derivative, Maturity Date at a point in time	15-Aug-19
Deriviative at purchase price	343,000
SMBC Capital Markets, Inc-3 [Member]	'
Derivative [Line Items]	'
Derivative, Purchase Date	10-Jul-14
Derivative Asset, Notional Amount	31,565,000
Derivative, Fixed Interest Rate	3.00%
Derivative, Maturity Date at a point in time	15-Aug-19
Deriviative at purchase price	$333,200

Interest_Rate_Derivative_Agree3

Interest Rate Derivative Agreements Footnote Tagging (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
			derivatives
Derivative [Line Items]	'	'	'	'	'
Derivative Asset, Notional Amount	$93,300,000	'	$93,300,000	'	'
Number of Derivatives	'	'	9	'	'
Derivative, Loss on Derivative	154,000	440,000	764,000	304,000	'
Derivative, Maturity Date at a point in time	'	'	1-Sep-17	'	'
Derivative, Fixed Interest Rate	3.00%	'	3.00%	'	'
Derivative, Collateral, Right to Reclaim Cash	'	'	'	'	500,000
Deriviative at purchase price	'	'	800,000	'	'
Barclays Bank PLC 1, Royal Bank of Canada-2 and SMBC Capital Markets, Inc-3 [Member]	'	'	'	'	'
Derivative [Line Items]	'	'	'	'	'
Derivative Asset, Notional Amount	31,600,000	'	31,600,000	'	'
Derivative, Maturity Date at a point in time	15-Aug-19	'	'	'	'
Derivative, Fixed Interest Rate	3.00%	'	3.00%	'	'
Deriviative at purchase price	'	'	991,000	'	'
SMBC Capital Markets, Inc 1 and 2 [Member]	'	'	'	'	'
Derivative [Line Items]	'	'	'	'	'
Derivative Asset, Notional Amount	70,000,000	'	70,000,000	'	'
Derivative, Maturity Date at a point in time	1-Mar-17	'	'	'	'
Derivative, Fixed Interest Rate	1.00%	'	1.00%	'	'
Deriviative at purchase price	'	'	390,000	'	'
Deutsche Bank [Member]	'	'	'	'	'
Derivative [Line Items]	'	'	'	'	'
Derivative Asset, Notional Amount	93,305,000	'	93,305,000	'	'
Derivative, Maturity Date at a point in time	'	'	1-Sep-17	'	'
Derivative, Fixed Interest Rate	1.50%	'	1.50%	'	'
Deriviative at purchase price	'	'	793,000	'	'
Swap [Member]	'	'	'	'	'
Derivative [Line Items]	'	'	'	'	'
Derivative, Fixed Interest Rate	2.00%	'	2.00%	'	'
Decatur-Angle [Member] | Swap [Member]	'	'	'	'	'
Derivative [Line Items]	'	'	'	'	'
Derivative, Gain on Derivative	4,000	'	'	'	'
Derivative, Notional Amount	23,000,000	'	23,000,000	'	'
Document Effective Date	'	'	15-Oct-16	'	'
Derivative, Maturity Date	'	'	15-Oct-21	'	'
Bruton Apartments [Member] | Swap [Member]	'	'	'	'	'
Derivative [Line Items]	'	'	'	'	'
Derivative, Loss on Derivative	1,700	'	'	'	'
Derivative, Notional Amount	$18,100,000	'	$18,100,000	'	'
Document Effective Date	'	'	15-Apr-17	'	'
Derivative, Maturity Date	'	'	15-Apr-22	'	'
Subsequent Event [Member] | Pro Nova 1 and 2 [Member]	'	'	'	'	'
Derivative [Line Items]	'	'	'	'	'
Discounted Purchase Price of Available-for-sale Security	99.00%	'	99.00%	'	'

Fair_Value_Measurements_Availa

Fair Value Measurements Available for sale securities (Details) (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2010

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Bond Purchase Commitment [Member]

Bond Purchase Commitment [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Taxable Bonds [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Interest rate derivatives [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 1 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 2 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Lost Creek [Member]

Lost Creek [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Iona Lakes [Member]

Woodland Park [Member]

Woodland Park [Member]

Woodland Park [Member]

Woodland Park [Member]

Woodland Park [Member]

Woodland Park [Member]

Woodland Park [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Bond Purchase Commitment [Member]

Bond Purchase Commitment [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Taxable Bonds [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Interest rate derivatives [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Bond Purchase Commitment [Member]

Bond Purchase Commitment [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Taxable Bonds [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Interest rate derivatives [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Bond Purchase Commitment [Member]

Bond Purchase Commitment [Member]

Bond Purchase Commitment [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Public housing capital fund trusts [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Taxable Bonds [Member]

Taxable Bonds [Member]

Taxable Bonds [Member]

Taxable Bonds [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Interest rate derivatives [Member]

Interest rate derivatives [Member]

Interest rate derivatives [Member]

Interest rate derivatives [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Fair Value, Inputs, Level 3 [Member]

Mortgage revenue bonds [Member]

Public housing capital fund trusts [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Mortgage revenue bonds [Member]

Bond Purchase Commitment [Member]

Public housing capital fund trusts [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Mortgage revenue bonds [Member]

Public housing capital fund trusts [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Mortgage revenue bonds [Member]

Public housing capital fund trusts [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Mortgage revenue bonds [Member]

Public housing capital fund trusts [Member]

Taxable Bonds [Member]

Interest rate derivatives [Member]

Schedule of Available-for-sale Securities [Line Items]

'

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'

'

Equity Method Investment, Quoted Market Value

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

'

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'

'

Fair Value, Assets and Liabilities Measured on Recurring/Nonrecurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

'

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'

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'

'

'

Assets, Fair Value Disclosure

385,332,107

'

'

404,789,122

285,318,171

2,968,941

-4,852,177

60,537,086

62,056,379

38,878,702

37,845,661

4,544,470

4,075,953

1,507,302

888,120

'

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'

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'

'

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'

'

'

'

'

'

'

426,684,885

265,473,415

347,486,446

212,530,276

'

356,313,065

199,115,593

285,318,171

145,237,376

'

334,367

-4,852,177

'

64,997,718

62,759,268

62,056,379

65,389,298

'

'

'

4,370,023

3,083,579

4,075,953

1,524,873

'

669,712

514,975

888,120

378,729

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'

'

Total gains (lossses) (realized/unrealized) [Abstract]

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'

Gain (Loss) on Investments

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'

'

-153,810

-440,331

-763,718

-304,085

'

0

0

0

0

'

0

0

'

0

0

0

0

'

'

'

0

0

0

0

'

-153,810

-440,331

-763,718

-304,085

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'

Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Income (Loss), before Tax, Including Portion Attributable to Noncontrolling Interest, Available-for-sale Securities

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'

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'

'

'

'

'

'

'

'

'

'

19,957,822

-17,174,260

55,343,528

-19,637,948

'

17,464,986

-15,995,937

42,498,644

-15,851,561

'

2,634,574

7,821,118

'

-316,185

-951,622

4,480,249

-3,553,392

'

'

'

174,447

-226,701

543,517

-232,995

'

0

0

0

0

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'

'

'

'

'

'

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'

'

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'

'

'

'

'

'

'

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases

'

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'

'

'

'

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'

'

'

'

'

'

'

31,115,700

11,825,000

107,770,827

75,670,000

'

31,115,700

10,542,000

107,770,827

72,752,000

'

0

0

'

0

0

0

0

'

'

'

0

1,283,000

0

2,918,000

'

0

0

0

0

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'

'

'

'

'

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'

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'

'

'

Mortgage revenue bonds held in trust, at fair value

350,940,711

'

216,371,801

'

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'

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'

'

'

'

10,200,000

[1]

9,098,751

[1]

9,465,000

9,465,000

0

0

0

'

'

'

'

'

'

'

19,581,166

19,581,166

0

0

0

17,626,172

[2]

18,500,000

'

'

'

'

'

'

'

'

'

'

'

'

Deriviative at purchase price

800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

991,400

792,999

1,382,900

792,999

'

0

0

0

0

'

0

0

'

0

0

0

0

'

'

'

0

0

0

0

'

991,400

792,999

1,382,900

792,999

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

Mortgage revenue bonds, at fair value

53,848,411

'

68,946,370

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-30,464,798

-30,464,798

0

0

0

0

'

'

'

'

'

'

'

'

-16,052,849

-16,052,849

0

0

0

'

'

'

'

'

'

'

Foreclosure of Available-for-Sale Securities

'

0

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

4,080,734

'

'

'

'

'

'

'

'

'

'

'

'

0

-914,116

-11,581,266

-11,581,266

0

0

0

Assets, Fair Value Disclosure

513,225,623

'

'

404,789,122

285,318,171

2,968,941

-4,852,177

60,537,086

62,056,379

38,878,702

37,845,661

4,544,470

4,075,953

1,507,302

888,120

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

474,346,921

269,876,917

474,346,921

269,876,917

'

404,789,122

203,075,880

404,789,122

203,075,880

'

2,968,941

2,968,941

'

60,537,086

61,793,516

60,537,086

61,793,516

'

'

'

4,544,470

4,139,878

4,544,470

4,139,878

'

1,507,302

867,643

1,507,302

867,643

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

Fair Value Observable inputs (level 2)

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

38,878,702

37,845,661

0

0

0

0

0

0

38,878,702

37,845,661

0

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

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'

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'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-4,249,076

-64,906

-6,408,264

-586,376

'

-104,629

-50,776

-333,722

-473,986

'

0

0

'

-4,144,447

-14,130

-5,999,542

-42,390

'

'

'

0

0

-75,000

-70,000

'

0

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$474,346,921

'

$474,346,921

'

$347,486,446

$404,789,122

'

$404,789,122

'

$285,318,171

$2,968,941

$2,968,941

($4,852,177)

$60,537,086

'

$60,537,086

'

$62,056,379

$0

$0

$4,544,470

'

$4,544,470

'

$4,075,953

$1,507,302

'

$1,507,302

'

$888,120

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

(2) Bond held by Deutsche Bank in a secured financing transaction, Note 10

[2]

(1) Bonds owned by ATAX TEBS I, LLC, Note 10

Fair_Value_Measurements_Fair_M

Fair Value Measurements Fair Market Value of Liabilities (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]	'	'
Debt financing	$346,957,000	$257,274,000
Mortgages payable	72,585,842	57,087,320
Carrying (Reported) Amount, Fair Value Disclosure [Member]	'	'
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]	'	'
Debt financing	346,957,000	257,274,000
Mortgages payable	72,585,842	57,087,320
Estimate of Fair Value, Fair Value Disclosure [Member]	'	'
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]	'	'
Debt financing	346,193,323	258,639,691
Mortgages payable	$71,348,283	$58,117,798

Fair_Value_Measurements_Narrat

Fair Value Measurements Narrative Footnote (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$7,821,118	'
Commitments [Member]	'	'
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$2,600,000	$7,800,000

Commitments_and_Contingencies_

Commitments and Contingencies Narrative Tagging (Details) (USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Foundation for Affordable Housing [Member]

Foundation for Affordable Housing [Member]

Greens of Pine Glen [Member]

Greens of Pine Glen [Member]

Ohio Properties [Member]

Ohio Properties [Member]

Construction in Progress [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Mortgage revenue bonds [Member]

Taxable Municipal Bonds [Member]

Unit

parkingstalls

Unit

Vancouver, Washington [Member]

Albuquerque, New Mexico [Member]

Albuquerque, New Mexico [Member]

Unit

Guarantor Obligations, Maximum Exposure, Undiscounted

'

'

'

'

$2,800,000

$1,300,000

'

'

'

'

'

'

'

'

Number of Units in Real Estate Property

'

'

'

'

96

'

'

'

'

475

5,860

'

'

'

Property loans receivable

22,214,738

21,549,927

'

1,587,776

1,603,083

876,000

876,000

2,390,447

2,361,447

'

'

'

'

'

Percentage of Loss Contingency, Range of Possible Loss, Maximum

'

'

'

'

'

75.00%

'

75.00%

'

'

'

'

'

'

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

Loss Contingency, Range of Possible Loss, Maximum

'

'

'

'

'

'

'

4,900,000

'

'

'

'

'

'

Operating Leases, Rent Expense

'

'

'

'

'

'

'

'

'

100

'

'

'

'

Number of Parking Stalls

'

'

'

'

'

'

'

'

'

1,605

'

'

'

'

Estimated Total Cost of Construction

'

'

'

'

'

'

'

'

'

33,800,000

'

'

'

'

Long-term Purchase Commitment, Amount

'

'

'

'

'

'

'

'

'

'

'

9,900,000

8,000,000

500,000

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

9.00%

'

'

'

'

'

'

6.30%

6.00%

12.00%

Available-For-Sale Securities, Gross Unrealized Loss MTM

$48,722

$2,434,964

'

'

'

'

'

'

'

'

'

$588,000

$246,000

'

Segment_Reporting_Segment_Repo

Segment Reporting Segment Reporting (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Revenues [Abstract]	'	'	'	'	'
Revenues	$11,842,948	$9,764,177	$36,296,767	$37,849,169	'
Interest Expense [Abstract]	'	'	'	'	'
Interest expense	2,633,892	2,325,372	7,204,292	5,287,994	'
Depreciation [Abstract]	'	'	'	'	'
Depreciation	1,513,322	1,374,703	4,026,079	3,829,888	'
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract]	'	'	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	3,304,680	2,008,848	13,009,489	12,509,025	'
Net Income (Loss) Attributable to Parent [Abstract]	'	'	'	'	'
Operating Income (Loss)	3,307,829	3,411,259	13,013,115	15,687,845	'
Assets [Abstract]	'	'	'	'	'
Assets	736,007,873	'	736,007,873	'	534,233,032
Partners' Capital	'	'	'	'	'
Partners' Capital	301,470,948	'	301,470,948	'	203,134,087
Mortgage revenue bonds [Member]	'	'	'	'	'
Revenues [Abstract]	'	'	'	'	'
Revenues	6,488,107	4,599,998	21,142,200	23,371,043	'
Interest Expense [Abstract]	'	'	'	'	'
Interest expense	1,612,293	1,307,397	4,253,997	2,426,721	'
Depreciation [Abstract]	'	'	'	'	'
Depreciation	0	0	0	0	'
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract]	'	'	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	3,116,090	2,066,800	12,031,064	12,333,200	'
Net Income (Loss) Attributable to Parent [Abstract]	'	'	'	'	'
Operating Income (Loss)	3,116,090	2,066,800	12,031,064	12,333,200	'
Assets [Abstract]	'	'	'	'	'
Assets	675,317,067	'	675,317,067	'	442,175,645
Partners' Capital	'	'	'	'	'
Partners' Capital	350,718,351	'	350,718,351	'	231,042,138
MF Properties [Member]	'	'	'	'	'
Revenues [Abstract]	'	'	'	'	'
Revenues	3,675,140	3,074,115	9,959,704	8,325,594	'
Interest Expense [Abstract]	'	'	'	'	'
Interest expense	603,714	550,755	1,627,264	1,574,544	'
Depreciation [Abstract]	'	'	'	'	'
Depreciation	1,277,548	1,019,947	3,324,026	2,781,678	'
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract]	'	'	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	-333,452	-478,460	-761,723	-1,205,151	'
Net Income (Loss) Attributable to Parent [Abstract]	'	'	'	'	'
Operating Income (Loss)	-330,303	923,951	-758,097	1,973,669	'
Assets [Abstract]	'	'	'	'	'
Assets	101,808,642	'	101,808,642	'	83,580,479
Partners' Capital	'	'	'	'	'
Partners' Capital	19,616,237	'	19,616,237	'	23,107,538
Public Housing Capital Fund Trust Certificates [Member]	'	'	'	'	'
Revenues [Abstract]	'	'	'	'	'
Revenues	734,110	814,946	2,311,112	2,445,259	'
Interest Expense [Abstract]	'	'	'	'	'
Interest expense	316,561	345,547	988,958	945,140	'
Depreciation [Abstract]	'	'	'	'	'
Depreciation	0	0	0	0	'
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract]	'	'	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	410,396	462,245	1,300,694	1,478,659	'
Net Income (Loss) Attributable to Parent [Abstract]	'	'	'	'	'
Operating Income (Loss)	410,396	462,245	1,300,694	1,478,659	'
Assets [Abstract]	'	'	'	'	'
Assets	60,990,478	'	60,990,478	'	62,449,028
Partners' Capital	'	'	'	'	'
Partners' Capital	16,214,975	'	16,214,975	'	13,336,761
Residential Mortgage Backed Securities [Member]	'	'	'	'	'
Revenues [Abstract]	'	'	'	'	'
Revenues	378,202	425,499	1,195,880	1,178,664	'
Interest Expense [Abstract]	'	'	'	'	'
Interest expense	101,324	121,673	334,073	341,589	'
Depreciation [Abstract]	'	'	'	'	'
Depreciation	0	0	0	0	'
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract]	'	'	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	276,878	276,968	859,139	764,120	'
Net Income (Loss) Attributable to Parent [Abstract]	'	'	'	'	'
Operating Income (Loss)	276,878	276,968	859,139	764,120	'
Assets [Abstract]	'	'	'	'	'
Assets	39,438,966	'	39,438,966	'	38,427,654
Partners' Capital	'	'	'	'	'
Partners' Capital	8,286,132	'	8,286,132	'	4,397,356
Consolidated VIEs [Member]	'	'	'	'	'
Revenues [Abstract]	'	'	'	'	'
Revenues	799,411	1,225,261	2,385,835	3,658,636	'
Interest Expense [Abstract]	'	'	'	'	'
Interest expense	565,444	832,719	1,684,636	2,477,348	'
Depreciation [Abstract]	'	'	'	'	'
Depreciation	235,774	354,756	702,053	1,048,210	'
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract]	'	'	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	-505,338	-786,542	-1,426,463	-2,241,493	'
Net Income (Loss) Attributable to Parent [Abstract]	'	'	'	'	'
Operating Income (Loss)	-505,338	-786,542	-1,426,463	-2,241,493	'
Assets [Abstract]	'	'	'	'	'
Assets	13,625,661	'	13,625,661	'	14,019,837
Partners' Capital	'	'	'	'	'
Partners' Capital	-22,938,239	'	-22,938,239	'	-21,511,776
Consolidation, Eliminations [Member]	'	'	'	'	'
Revenues [Abstract]	'	'	'	'	'
Revenues	-232,022	-375,642	-697,964	-1,130,027	'
Interest Expense [Abstract]	'	'	'	'	'
Interest expense	-565,444	-832,719	-1,684,636	-2,477,348	'
Depreciation [Abstract]	'	'	'	'	'
Depreciation	0	0	0	0	'
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest [Abstract]	'	'	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	340,106	467,837	1,006,778	1,379,690	'
Net Income (Loss) Attributable to Parent [Abstract]	'	'	'	'	'
Operating Income (Loss)	340,106	467,837	1,006,778	1,379,690	'
Assets [Abstract]	'	'	'	'	'
Assets	-155,172,941	'	-155,172,941	'	-106,419,611
Partners' Capital	'	'	'	'	'
Partners' Capital	($70,426,508)	'	($70,426,508)	'	($47,237,930)

Segment_Reporting_Footnote_Tag

Segment Reporting Footnote Tagging (Details)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
	segments	Integer	properties
	properties
Segment Reporting Information [Line Items]	'	'	'
Number of Reportable Segments	5	'	'
Number of Available for Sale Securities	'	43	'
Number of Variable Interest Entities	'	'	5
Mortgage revenue bonds [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Units in Real Estate Property	5,860	'	'
MF Properties [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Units in Real Estate Property	2,233	'	'
Number of Real Estate Properties	6	'	'
Consolidated VIEs [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Units in Real Estate Property	410	'	'
Number of Real Estate Properties	2	'	'
Number of Variable Interest Entities	2	'	'
Public housing capital fund trusts [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Available for Sale Securities, Public Housing Authorities	'	3	3
Unconsolidated Available for Sale Securities [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Available for Sale Securities	'	44	'
Consolidated VIEs [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Available for Sale Securities	'	2	'
Consolidated Properties [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Real Estate Properties	9	'	'
Consolidated Properties [Member] | MF Properties [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Number of Real Estate Properties	9	'	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2014

Sep. 30, 2013

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Sep. 30, 2014

Dec. 31, 2014

Dec. 31, 2014

Integer

Subsequent Event [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Mortgage Backed Security Trust 4 [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 5 [Member] [Member]

Mortgage Backed Security Trust 6 [Member]

Mortgage Backed Security Trusts 4, 5, 6 [Member]

Pro Nova 1 and 2 [Member]

Pro Nova-1 [Member]

Pro Nova-2 [Member]

Integer

Subsequent Event [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Trust Portfolio--MBS Bonds [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discounted Purchase Price of Available-for-sale Security

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

99.00%

'

'

Number of Available for Sale Securities

'

'

43

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

Available-for-sale Securities, Held in Trust, at Par Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$10,000,000

$10,000,000

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

6.00%

Debt Instrument, Maturity Date

'

'

'

'

1-Jul-17

'

'

'

'

'

'

'

'

'

'

'

1-May-25

1-May-34

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

'

'

'

'

4.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Asset Held For Sale Valuation

'

'

'

'

2,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Construction and Development Costs

'

'

'

'

279,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Available for Sale Securities, not Including Premiums

'

'

'

65,264,703

'

39,150,000

3,700,000

3,700,000

31,600,000

24,400,000

'

'

'

'

'

'

'

'

Payments to Acquire Mortgage Backed Securities (MBS) categorized as Available-for-sale

3,800,000

0

12,629,888

'

'

'

'

'

'

24,600,000

'

'

'

'

'

'

'

'

TOB Financing

'

'

'

'

$18,000,000

$21,200,000

'

'

'

'

$6,000,000

$2,500,000

$5,300,000

$7,800,000

$19,100,000

'

'

'