Divall Insured Income Properties 2 Limited Partnership (DIVVZ) 10-Q15 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014
Document And Entity Information [Abstract]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	31-Mar-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q1
Trading Symbol	'ZZDD
Entity Registrant Name	'DIVALL INSURED INCOME PROPERTIES 2 LIMITED PARTNERSHIP
Entity Central Index Key	'0000825788
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Smaller Reporting Company
Entity Common Stock, Shares Outstanding	0

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
INVESTMENT PROPERTIES: (Note 3)	'	'
Land	$2,956,118	$2,956,118
Buildings	5,028,699	5,028,699
Accumulated depreciation	-4,022,513	-3,984,987
Net investment properties	3,962,304	3,999,830
OTHER ASSETS:	'	'
Cash	738,581	244,319
Cash held in Indemnification Trust (Note 9)	452,806	452,645
Property tax cash escrow	19,673	25,697
Security deposits escrow	70,570	70,765
Rents and other receivables	15,858	470,478
Deferred tenant award proceeds escrow	166,452	171,948
Deferred rent receivable	900	2,250
Prepaid insurance	3,494	4,992
Deferred charges, net	171,819	178,987
Note receivable (Note 11)	154,652	163,491
Total other assets	1,794,805	1,785,572
Total assets	5,757,109	5,785,402
CURRENT LIABILITIES:	'	'
Accounts payable and accrued expenses	138,716	50,979
Property tax payable	22,935	25,701
Due to General Partner (Note 6)	0	1,227
Deferred rent	166,431	171,918
Security deposits	70,440	70,440
Unearned rental income	5,000	5,000
Total current liabilities	403,522	325,265
CONTINGENCIES AND COMMITMENTS (Notes 8 and 9)	'	'
General Partner -	'	'
Cumulative net income (retained earnings)	334,087	334,153
Cumulative cash distributions	-139,006	-139,006
Total general partners' capital	195,081	195,147
Limited Partners (46,280.3 interests outstanding at March 31, 2014 and December 31, 2013)	'	'
Capital contributions	46,280,300	46,280,300
Offering Costs	-6,921,832	-6,921,832
Cumulative net income (retained earnings)	39,440,535	39,447,019
Cumulative cash distributions	-72,800,268	-72,700,268
Total limited partners' capital	5,998,735	6,105,219
Former General Partner -	'	'
Cumulative net income (retained earnings)	707,513	707,513
Cumulative cash distributions	-1,547,742	-1,547,742
Total former general partners' capital	-840,229	-840,229
Total partners' capital	5,353,587	5,460,137
Total liabilities and partners' capital	$5,757,109	$5,785,402

CONDENSED_BALANCE_SHEETS_Paren

CONDENSED BALANCE SHEETS (Parenthetical)	Mar. 31, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]	'	'
Limited Partners' capital account, interests outstanding	46,280.30	46,280.30

CONDENSED_STATEMENTS_OF_INCOME

CONDENSED STATEMENTS OF INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended
CONDENSED STATEMENTS OF INCOME (LOSS) (Unaudited) (USD $)	Mar. 31, 2014	Mar. 31, 2013
OPERATING REVENUES:	'	'
Rental income (Note 5)	$258,648	$256,205
TOTAL OPERATING REVENUES	258,648	256,205
OPERATING EXPENSES	'	'
Partnership management fees (Note 6)	65,049	63,858
Insurance	1,498	1,471
General and administrative	49,491	22,661
Advisory Board fees and expenses	2,625	2,625
Professional services	105,741	98,641
Depreciation	37,526	37,526
Amortization	7,168	7,168
TOTAL OPERATING EXPENSES	269,098	233,950
OTHER INCOME	'	'
Interest income	990	782
Note receivable interest income (Note 11)	2,910	3,526
Other income	0	280
TOTAL OTHER INCOME	3,900	4,588
NET INCOME (LOSS)	-6,550	26,843
NET INCOME (LOSS) - GENERAL PARTNER	-66	268
NET INCOME (LOSS) - LIMITED PARTNERS	-6,484	26,575
NET INCOME (LOSS)	($6,550)	$26,843
PER LIMITED PARTNERSHIP INTEREST, Based on 46,280.3 interests outstanding:	'	'
NET (LOSS) INCOME PER LIMITED PARTNERSHIP INTEREST	($0.14)	$0.57

CONDENSED_STATEMENTS_OF_INCOME1

CONDENSED STATEMENTS OF INCOME (LOSS) (Unaudited) (Parenthetical)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]	'	'
Interests outstanding	46,280.30	46,280.30

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net (loss) income	($6,550)	$26,843
Adjustments to reconcile net income (loss) to net cash from operating activities -	'	'
Depreciation and amortization	44,694	44,694
Interest paid (applied) to Indemnification Trust account	-161	-313
Decrease in rents and other receivables	454,620	465,406
Increase (Decrease) in security deposit escrow	195	-5
Decrease in property tax cash escrow	6,024	2,429
Decrease in prepaid insurance	1,498	1,469
Decrease in deferred rent receivable	1,350	1,299
Increase in accounts payable and accrued expenses	87,737	78,940
Decrease in property tax payable	-2,766	-2,429
Decrease in deferred award escrow	5,496	0
Decrease in due to General Partner	-1,227	-1,225
Net cash from operating activities	590,910	617,108
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Note receivable, principal payment received	8,839	8,223
Deferred rent	-5,487	0
Net cash from investing activities	3,352	8,223
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Cash distributions to Limited Partners	-100,000	-550,000
Cash distributions to General Partner	0	-107
Net cash used in financing activities	-100,000	-550,107
NET INCREASE IN CASH	494,262	75,224
CASH AT BEGINNING OF YEAR	244,319	693,221
CASH AT END OF PERIOD	$738,581	$768,445

ORGANIZATION_AND_SIGNIFICANT_A

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2014
Accounting Policies [Abstract]	'
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	'
	1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES:
	The Partnership was formed on November 20, 1987, pursuant to the Uniform Limited Partnership Act of the State of Wisconsin. The initial capital, contributed during 1987, consisted of $300, representing aggregate capital contributions of $200 by the former general partners and $100 by the initial limited partner.
	The Partnership is currently engaged in the business of owning and operating its investment portfolio of commercial real estate properties (the “Properties”). The Properties are leased on a triple net basis primarily to, and operated by, franchisors or franchisees of national, regional, and local retail chains under primarily long-term leases. The lessees are fast food, family style, and casual/theme restaurants. As of March 31, 2014, the Partnership owned twelve Properties, which are located in a total of five states.
	The Partnership will be dissolved on November 30, 2020, or earlier upon the prior occurrence of any of the following events: (a) the disposition of all its Properties; (b) the written determination by the Provo Group, Inc., the general partner of the Partnership (the “General Partner”), that the Partnership’s assets may constitute “plan assets” for purposes of ERISA; (c) the agreement of Limited Partners owning a majority of the outstanding interests to dissolve the Partnership; or (d) the dissolution, bankruptcy, death, withdrawal, or incapacity of the last remaining general partner, unless an additional general partner is elected by a majority of the Limited Partners. During the second quarters of the six odd numbered years 2001 to 2011, consent solicitations were circulated (each being a “Consent”). If approved, any of these consents would have authorized the sale of all of the Properties and the dissolution of the Partnership. A majority of the Limited Partners did not vote in favor of any of the Consents. Therefore, the Partnership continued to operate as a going concern. Again, in the third quarter of 2013, consent solicitations were circulated (the “2013 Consent”), which if approved would have authorized the sale of all of the Properties and the dissolution of the Partnership. A majority of the Limited Partners did not vote in favor of the 2013 Consent, and the General Partner declared the 2013 Consent solicitation process concluded on August 30, 2013. Therefore, the Partnership continues to operate as a going concern.

	Significant Accounting Policies
	Rental revenue from the Properties is recognized on a straight-line basis over the term of the respective lease. Percentage rents are only accrued when the tenant has reached the sales breakpoint stipulated in the lease.
	Rents and other receivables are comprised of billed but uncollected amounts due for monthly rents and other charges, and amounts due for scheduled rent increases for which rentals have been earned and will be collected in the future under the terms of the leases. Receivables are recorded at management’s estimate of the amounts that will be collected.
	Based on an analysis of specific accounts and historical experience, as of March 31, 2014, and December 31, 2013, there were no recorded values for allowance for doubtful accounts.
	The Partnership considers its operations to be in only one segment, the operation of a portfolio of commercial real estate leased on a triple net basis, and therefore no segment disclosure is made.
	Depreciation of the Properties are provided on a straight-line basis over the estimated useful lives of the buildings and improvements.
	Deferred charges represent leasing commissions paid when the Properties are leased and upon the negotiated extension of a lease. Leasing commissions are capitalized and amortized over the term of the lease. As of March 31, 2014 and December 31, 2013, accumulated amortization amounted to $136,963 and $129,795, respectively.
	Deferred tenant award proceeds escrow represents the portion of the award proceeds from the sale of the portion of the Mt. Pleasant, SC property that will be paid to the tenant ratably over 99 months beginning August 1, 2013.
	The Partnership generally maintains cash in federally insured accounts which, at times, may exceed federally insured limits. The Partnership has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk.
	Financial instruments that potentially subject the Partnership to significant concentrations of credit risk consist primarily of cash investments and leases. Additionally, as of March 31, 2014, nine of the Partnership’s twelve Properties are leased to three significant tenants, Wendgusta, LLC (“Wendgusta”), Wendcharles I, LLC (“Wendcharles I”) and Wendcharles II, LLC (“Wendcharles II”), all three of whom are Wendy’s restaurant franchisees. The property lease(s) for the three tenants comprised approximately 52%, 14% and 7%, respectively, of the total operating base rents reflected as of March 31, 2014.
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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.
	Assets disposed of or deemed to be classified as held for sale require the reclassification of current and previous years’ operations to discontinued operations in accordance with GAAP applicable to “Accounting for the Impairment or Disposal of Long Lived Assets”. As such, prior year operating results for those properties considered as held for sale or properties no longer considered for sale have been
	reclassified to conform to the current year presentation without affecting total income. When properties are considered held for sale, depreciation of the properties is discontinued, and the properties are valued at the lower of the depreciated cost or fair value, less costs to dispose. If circumstances arise that were previously considered unlikely, and, as a result, the property previously classified as held for sale is no longer to be sold, the property is reclassified as held and used. Such property is measured at the lower of its carrying amount (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or fair value at the date of the subsequent decision not to sell.
	Assets are classified as held for sale, generally, when all criteria within GAAP applicable to “Accounting for the Impairment or Disposal of Long Lived Assets” have been met.
	The Partnership periodically reviews its long-lived assets, primarily real estate, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Partnership’s review involves comparing current and future operating performance of the assets, the most significant of which is undiscounted operating cash flows, to the carrying value of the assets. Based on this analysis, a provision for possible loss is recognized, if any. There were no adjustments to carrying values for the three month periods ended March 31, 2014 and 2013.
	The Financial Accounting Standards Board (“FASB”) guidance on “Fair Value Measurements and Disclosure” defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measures required under other accounting pronouncements, but does not change existing guidance as to whether or not an instrument is carried at fair value. The adoption of the provisions of this FASB issuance, with respect to nonrecurring fair value measurements of nonfinancial assets and liabilities, including (but not limited to) the valuation of reporting units for the purpose of assessing goodwill impairment and the valuation of property and equipment when assessing long-lived asset impairment, did not have a material impact on how the Partnership estimated its fair value measurements but did result in increased disclosures about fair value measurements in the Partnership’s financial statements as of and for the three month period ended March 31, 2014 and the year ended December 31, 2013. See Note 12 for further disclosure.
	GAAP applicable to Disclosure About Fair Value of Financial Instruments, requires entities to disclose the fair value of all financial assets and liabilities for which it is practicable to estimate. Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The General Partner believes that the carrying value of the Partnership’s assets (exclusive of the Properties) and liabilities approximate fair value due to the relatively short maturity of these instruments.
	No provision for federal income taxes has been made, as any liability for such taxes would be that of the individual partners rather than of the Partnership.
	The Partnership is not subject to federal income tax because its income and losses are includable in the tax returns of its partners, but may be subject to certain state taxes. FASB has provided guidance for how uncertain tax positions should be recognized, measured, disclosed and presented in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the entity’s tax returns to determine whether the tax positions are more-likely-than-not of being sustained when challenged or when examined by the applicable taxing authority. Management has determined that there were no material uncertain income tax positions. Tax returns filed by the Partnership generally are subject to examination by U.S. and state taxing authorities for the years ended after December 31, 2009.

REGULATORY_INVESTIGATION

REGULATORY INVESTIGATION	3 Months Ended
REGULATORY INVESTIGATION	Mar. 31, 2014
Commitments And Contingencies Disclosure [Abstract]	'
REGULATORY INVESTIGATION	'
	2. REGULATORY INVESTIGATION:
	A preliminary investigation during 1992 by the Office of Commissioner of Securities for the State of Wisconsin and the SEC (the “Investigation”) revealed that during at least the four years ended December 31, 1992, the former general partners of the Partnership, Gary J. DiVall (“DiVall”) and Paul E. Magnuson (“Magnuson”), had transferred substantial cash assets of the Partnership and two affiliated publicly registered limited partnerships, DiVall Insured Income Fund Limited Partnership (“DiVall 1”), which was dissolved December of 1998, and DiVall Income Properties 3 Limited Partnership (“DiVall 3”), which was dissolved December of 2003, (collectively, the “three original partnerships”) to various other entities previously sponsored by or otherwise affiliated with Gary J. DiVall and Paul E. Magnuson. The unauthorized transfers were in violation of the respective partnership agreements and resulted, in part, from material weaknesses in the internal control system of the three original partnerships.
	Subsequent to discovery, and in response to the regulatory inquiries, The Provo Group, Inc. (“TPG”) was appointed Permanent Manager (effective February 8, 1993) to assume responsibility for daily operations and assets of the three original partnerships as well as to develop and execute a plan of restoration for the three original partnerships. Effective May 26, 1993, the Limited Partners, by written consent of a majority of interests, elected TPG as general partner. TPG terminated the former general partners by accepting their tendered resignations.
	In 1993, the General Partner estimated an aggregate recovery of $3 million for the three original partnerships. At that time, an allowance was established against amounts due from former general partners and their affiliates reflecting the estimated $3 million receivable. This net receivable was allocated among the three original partnerships based on their pro rata share of the total misappropriation, and restoration costs and recoveries have been allocated based on the same percentage. Through March 31, 2014, approximately $5,918,000 of recoveries have been received which exceeded the original estimate of $3 million. As a result, from January 1, 1996 through March 31, 2014, the Partnership has recognized a total of approximately $1,229,000 as recovery of amounts previously written off in the statements of income, which represents its share of the excess recovery. The General Partner continues to pursue recoveries of the misappropriated funds; however, no further significant recoveries are anticipated.

INVESTMENT_PROPERTIES_AND_PROP

INVESTMENT PROPERTIES AND PROPERTIES HELD FOR SALE	3 Months Ended
INVESTMENT PROPERTIES AND PROPERTIES HELD FOR SALE	Mar. 31, 2014
Real Estate [Abstract]	'
INVESTMENT PROPERTIES AND PROPERTIES HELD FOR SALE	'
	3. INVESTMENT PROPERTIES AND PROPERTIES HELD FOR SALE:
	The total cost of the Properties includes the original purchase price plus acquisition fees and other capitalized costs paid to an affiliate of the former general partners.
	As of March 31, 2014, the Partnership owned property leased to twelve fully constructed fast-food restaurants. The twelve tenants are composed of the following: nine Wendy’s restaurants, an Applebee’s restaurant, a KFC restaurant, and a Daytona’s All Sports Café (“Daytona’s”). The twelve properties are located in a total of five states.

	Daytona’s – 4875 Merle Hay Rd, Des Moines, IA
	Daytona’s lease is set to expire May 31, 2014. On January 24, 2014, the Partnership sent Daytona’s a 30-day Notice of Default for failure to pay its January rent. On February 3, 2014 the Partnership received payment for a portion of Daytona’s January rent and real estate tax escrow payment. The 30-day Notice of Default expired on February 23, 2014. As of March 31, 2014 Daytona’s has not made its monthly rent or real estate tax escrow payments for February or March 2014. At this time, management does expect to collect the rents and real estate tax payments due through the end of the lease term. However, the Partnership no longer expects to renew the lease and will pursue a qualified replacement tenant.

PARTNERSHIP_AGREEMENT

PARTNERSHIP AGREEMENT	3 Months Ended
PARTNERSHIP AGREEMENT	Mar. 31, 2014
Equity [Abstract]	'
PARTNERSHIP AGREEMENT	'
	4. PARTNERSHIP AGREEMENT:
	The Amended Agreement of Limited Partnership (as amended, supplemented or modified, the “Partnership Agreement”) of the Partnership extends the term of the Partnership to November 30, 2020, or until dissolution prior thereto pursuant to the consent of the majority of the outstanding Limited Partnership Interests.
	On May 26, 1993, pursuant to the results of a solicitation of written consents from the Limited Partners, the Partnership Agreement was amended to replace the former general partners and amend various sections of the Partnership Agreement. The former general partners were replaced by TPG. Under the terms of the amendment, net profits or losses from operations are allocated 99% to the Limited Partners and 1% to the current General Partner. Additionally, the total compensation paid to all persons for the sale of the investment properties is limited to commissions customarily charged by other brokers in arm’s-length sales transactions involving comparable properties in the same geographic area, not to exceed six percent of the contract price for the sale of the property. The General Partner may receive up to one-half of the competitive real estate commission, not to exceed three percent, provided that the General Partner provides a substantial amount of services, as defined by the General Partner, in the sales effort. It is further provided that a portion of the amount of such fees payable to the General Partner is subordinated to its success in recovering the funds misappropriated by the former general partners. See Note 6 for further information.
	The Partnership Agreement provides that (i) the “Distribution Quarter” is defined as the calendar quarter, and (ii) the distribution provisions are subordinate to the General Partner’s share of distributions from net cash receipts and net proceeds to the extent necessary for the General Partner to pay its federal and state income taxes on Partnership income allocated to the General Partner. Because these amendments do not adversely affect the rights of the Limited Partners, pursuant to section 10.2 of the Partnership Agreement, the General Partner can modify these provisions without a vote of the Limited Partners.

LEASES

LEASES	3 Months Ended
LEASES	Mar. 31, 2014
Leases [Abstract]	'
LEASES	'
	5. LEASES:
	Original lease terms for the majority of the Properties are generally five to twenty years from their inception. The leases generally provide for minimum rents and additional rents based upon percentages of gross sales in excess of specified breakpoints. The lessee is responsible for occupancy costs such as maintenance, insurance, real estate taxes, and utilities. Accordingly, these amounts are not reflected in the statements of income except in circumstances where, in management’s opinion, the Partnership will be required to pay such costs to preserve its assets (i.e., payment of past-due real estate taxes). Management has determined that the leases are properly classified as operating leases; therefore, rental income is reported when earned on a straight-line basis and the cost of the property, excluding the cost of the land, is depreciated over its estimated useful life.

	As of March 31, 2014, the aggregate minimum operating lease payments (including the aggregate total of the first quarter of 2014 collected revenues of $258,648) to be received under the current operating leases for the Properties are as follows:
	Year ending December 31,


	2014	$	952,462
	2015		804,553
	2016		791,935
	2017		720,433
	2018		690,433
	Thereafter		2,268,849

		$	6,228,665

	At March 31, 2014 and December 31, 2013, rents and other receivables included $0 and $470,478, respectively, of unbilled percentage rents. As of March 31, 2014, all of the 2013 percentage rents had been billed and collected.

TRANSACTIONS_WITH_GENERAL_PART

TRANSACTIONS WITH GENERAL PARTNER AND ITS AFFILIATES

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

TRANSACTIONS WITH GENERAL PARTNER AND ITS AFFILIATES

6. TRANSACTIONS WITH GENERAL PARTNER AND ITS AFFILIATES:

Pursuant to the terms of the Permanent Manager Agreement (“PMA”) executed in 1993 and renewed for an additional two year term as of January 1, 2013, the General Partner receives a base fee (the “Base Fee”) for managing the Partnership equal to four percent of gross receipts, subject to an initial annual minimum amount of $159,000. The PMA also provides that the Partnership is responsible for reimbursement of the General Partner for office rent and related office overhead (“Expenses”) up to an initial annual maximum of $13,250. Both the Base Fee and Expense reimbursement are subject to annual Consumer Price Index based adjustments. Effective March 1, 2014, the minimum annual Base Fee and the maximum Expense reimbursement increased by 1.46% from the prior year, which represents the allowable annual Consumer Price Index adjustment per the PMA. Therefore, as of March 1, 2014, the minimum annual Base Fee paid by the Partnership was raised to $262,716 and the maximum annual Expense reimbursement was increased to $21,192.

For purposes of computing the four percent overall fee paid to the General Partner, gross receipts include amounts recovered in connection with the misappropriation of assets by the former general partners and their affiliates. To date, the General Partner has received fees from the Partnership totaling $59,729 on the amounts recovered. The fee received from the Partnership on the amounts recovered reduces the minimum monthly Base Fee by that same amount.

Amounts paid and/or accrued to the General Partner and its affiliates for the three month periods ended March 31, 2014 and 2013 are as follows:

Three Month Period

ended

March 31, 2014

March 31, 2013

(Unaudited)

General Partner

Management fees

65,049

63,858

Overhead allowance

5,248

5,151

Other outsourced administrative fees

1,088

4,350

Reimbursement for out-of-pocket expenses

1,162

1,202

Cash distribution

107

72,547

74,668

At March 31, 2014 and December 31, 2013, $0 and $1,227, respectively, was payable to the General Partner.

As of March 31, 2014 and December 31, 2013, TPG Finance Corp. owned 200 limited partnership units of the Partnership. The President of the General Partner, Bruce A. Provo, is also the President of TPG Finance Corp., but he is not a shareholder of TPG Finance Corp.

As of March 31, 2014, the General Partner did not own any Limited Partnership Interests in the Partnership. The following chart identifies the security ownership of the Partnership’s principal executive officer and principal financial officer as the sole named executive officer holding any Limited Partnership Interests:

Title of

Name of

Amount and

Percentage of

Beneficial Owner(1)

Nature of

Class

Beneficial

Outstanding(4)

Ownership

Limited Partnership Interest

Bruce A. Provo

200

(2)(3)

0.43

-1

A beneficial owner of a security includes a person who, directly or indirectly, has or shares voting or investment power with respect to such security. Voting power is the power to vote or direct the voting of the security and investment power is the power to dispose or direct the disposition of the security.

-2

Bruce A. Provo is deemed to have beneficial ownership of all of TPG Finance Corp.’s Limited Partnership interests in the Partnership due to his control as President of TPG Finance Corp.

-3

Bruce A. Provo may be deemed to beneficially own the Limited Partnership Interests listed above due to such voting and investment power.

-4

Based on 46,280.3 Limited Partnership Interests outstanding as of March 31, 2014.

TRANSACTIONS_WITH_OWNERS_WITH_

TRANSACTIONS WITH OWNERS WITH GREATER THAN TEN PERCENT BENEFICIAL INTERESTS	3 Months Ended
	Mar. 31, 2014
Text Block [Abstract]	'
TRANSACTIONS WITH OWNERS WITH GREATER THAN TEN PERCENT BENEFICIAL INTERESTS	'
	7. TRANSACTIONS WITH OWNERS WITH GREATER THAN TEN PERCENT BENEFICIAL INTERESTS:
	As of March 31, 2014, Jesse Small, an Advisory Board Member, beneficially owned greater than ten percent of the Partnership’s Limited Partnership Interests. Amounts paid to Mr. Small for his services as a member of the Advisory Board for the three month periods ended March 31, 2014 and 2013 are as follows:


		Incurred for the		Incurred for the
		Three Month		Three Month
		Period ended		Period ended
		March 31, 2014		March 31, 2013
		(Unaudited)		(Unaudited)
	Advisory Board
	Fees paid	$	875	$	875

	At March 31, 2014 and December 31, 2013 there were no outstanding Advisory Board Fees accrued and payable to Jesse Small.

CONTINGENT_LIABILITIES

CONTINGENT LIABILITIES	3 Months Ended
CONTINGENT LIABILITIES	Mar. 31, 2014
Commitments And Contingencies Disclosure [Abstract]	'
CONTINGENT LIABILITIES	'
	8. CONTINGENT LIABILITIES:
	According to the Partnership Agreement, the General Partner may receive a disposition fee not to exceed three percent of the contract price on the sale of the three original partnerships’ properties (See Note 2 for further information as to the original partnerships). In addition, fifty percent of all such disposition fees earned by TPG were to be escrowed until the aggregate amount of recovery of the funds misappropriated from the three original partnerships by the former general partners was greater than $4,500,000. Upon reaching such recovery level, full disposition fees would thereafter be payable and fifty percent of the previously escrowed amounts would be paid to TPG. At such time as the recovery exceeded $6,000,000 in the aggregate, the remaining escrowed disposition fees were to be paid to TPG. If such levels of recovery were not achieved, TPG would contribute the amounts escrowed toward the recovery until the three original partnerships were made whole. In lieu of a disposition fee escrow, the fifty percent of all such disposition fees previously discussed were paid directly to a restoration account and then distributed among the three original partnerships; whereby the three original partnerships recorded the recoveries as income (Note 2). After the recovery level of $4,500,000 was exceeded, fifty percent of the total disposition fee amount paid to the three original partnerships’ recovery through the restoration account (in lieu of the disposition fee escrow) was refunded to TPG during March 1996. The remaining fifty percent amount allocated to the Partnership through the restoration account, and which was previously reflected as Partnership recovery income, may be owed to TPG if the $6,000,000 recovery level is met. As of March 31, 2014, the Partnership may owe TPG $16,296 if the $6,000,000 recovery level is achieved. TPG does not expect any future payment, as it is uncertain that such a $6,000,000 recovery level will be achieved.

PMA_INDEMNIFICATION_TRUST

PMA INDEMNIFICATION TRUST	3 Months Ended
PMA INDEMNIFICATION TRUST	Mar. 31, 2014
Banking And Thrift [Abstract]	'
PMA INDEMNIFICATION TRUST	'
	9. PMA INDEMNIFICATION TRUST:
	The PMA provides that TPG will be indemnified from any claims or expenses arising out of or relating to TPG serving in such capacity or as substitute general partner, so long as such claims do not arise from fraudulent or criminal misconduct by TPG. The PMA provides that the Partnership fund this indemnification obligation by establishing a reserve of up to $250,000 of Partnership assets which would not be subject to the claims of the Partnership’s creditors. An Indemnification Trust (the “Trust”) serving such purposes has been established at United Missouri Bank, N.A. The corpus of the Trust has been fully funded with Partnership assets. Funds are invested in U.S. Treasury securities. In addition, $202,806 of earnings has been credited to the Trust as of March 31, 2014. The rights of TPG to the Trust shall be terminated upon the earliest to occur of the following events: (i) the written release by TPG of any and all interest in the Trust; (ii) the expiration of the longest statute of limitations relating to a potential claim which might be brought against TPG and which is subject to indemnification; or (iii) a determination by a court of competent jurisdiction that TPG shall have no liability to any person with respect to a claim which is subject to indemnification under the PMA. At such time as the indemnity provisions expire or the full indemnity is paid, any funds remaining in the Trust will revert back to the general funds of the Partnership.

FORMER_GENERAL_PARTNERS_CAPITA

FORMER GENERAL PARTNERS' CAPITAL ACCOUNTS	3 Months Ended
FORMER GENERAL PARTNERS' CAPITAL ACCOUNTS	Mar. 31, 2014
Text Block [Abstract]	'
FORMER GENERAL PARTNERS' CAPITAL ACCOUNTS	'
	10. FORMER GENERAL PARTNERS’ CAPITAL ACCOUNTS:
	The capital account balance of the former general partners as of May 26, 1993, the date of their removal as general partners pursuant to the results of a solicitation of written consents from the Limited Partners, was a deficit of $840,229. At December 31, 1993, the former general partners’ deficit capital account balance in the amount of $840,229 was reallocated to the Limited Partners.

NOTE_RECEIVABLE

NOTE RECEIVABLE	3 Months Ended
NOTE RECEIVABLE	Mar. 31, 2014
Receivables [Abstract]	'
NOTE RECEIVABLE	'
	11. NOTE RECEIVABLE:
	A sales contract was executed on September 30, 2009 for the installment sale of the Partnership’s Panda Buffet property to the tenant for $520,000 (sales amount was to be reduced to $450,000 if closing occurred on or before November 15, 2009). The closing date on the sale of the property was November 12, 2009 at a sales price of $450,000. The buyer paid $150,000 at closing with the remaining balance of $300,000 being delivered in the form of a promissory note (“Buyers Note”) to the Partnership. The Buyers Note reflected a term of three years, an interest rate of 7.25%, and principal and interest payments paid monthly and principal amortized over a period of ten years beginning December 1, 2009 with a balloon payment due November 1, 2012. The Partnership amended the Buyers Note in the amount of $232,777, to $200,000 after a principal payment of $32,777 was received on October 19, 2012 under the following extended terms: The principal balance of $200,000 will be amortized over five years at an interest rate of 7.25% per annum with a full balloon payment of $133,396 due November 1, 2014. Pursuant to the Buyers Note, there is no penalty for early payment of principal. The Buyers Note also requires the buyer to escrow property taxes with the Partnership which, as of January 1, 2013, is $925 per month. The property tax escrow cash balance held by the Partnership amounted to $4,165 at March 31, 2014, and is included in the property tax payable in the condensed balance sheets.
	Per the Buyer’s Note amortization schedule, the monthly payments are to total approximately $3,916 per month. The amortized principal payments yet to be received under the Buyer’s Note amounted to $163,491 as of December 31, 2013. During the three month period ended March 31, 2014, three note payments were received by the Partnership and totaled $8,839 in principal and $2,910 in interest.

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE DISCLOSURES	'
	12. FAIR VALUE DISCLOSURES
	The Partnership has determined the fair value based on hierarchy that gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Inputs are broadly defined as assumptions market participants would use in pricing an asset or liability. The three levels of the fair value hierarchy under the accounting principle are described below:

		Level 1.	Quoted prices in active markets for identical assets or liabilities.

		Level 2.	Quoted prices for similar investments in active markets, quoted prices for identical or similar investments in markets that are not active, and inputs other than quoted prices that are observable for the investment.

		Level 3.	Unobservable inputs for which there is little, if any, market activity for the investment. The inputs into the determination of fair value are based upon the best information in the circumstances and may require significant management judgment or estimation and the use of discounted cash flow models to value the investment.
	The fair value hierarchy is based on the lowest level of input that is significant to the fair value measurements. The Partnership’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.
	The Partnership assesses the levels of the investments at each measurement date, and transfers between levels are recognized on the actual date of the event or change in circumstances that caused the transfer in accordance with the Partnership’s accounting policy regarding the recognition of transfers between levels of the fair value hierarchy. For the three month periods ended March 31, 2014 and 2013, there were no such transfers.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	13. SUBSEQUENT EVENTS
	Daytona’s – 4875 Merle Hay Rd, Des Moines, IA
	Notice was sent to the tenant on April 22, 2014 that they remain in default of the lease for failure to pay monthly rent and real estate tax escrow payments and that the Partnership will not renew the lease upon its expiration. The notice also advised the tenant that they are expected to vacate the premises by May 31, 2014, and that they are responsible for paying all rent and real estate tax obligations owed as of January 1, 2014, through the termination of the lease on May 31, 2014, each in accordance with the Lease Agreement between the Partnership and the Tenant dated March 1, 2003.

ORGANIZATION_AND_SIGNIFICANT_A1

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	Significant Accounting Policies
	Rental revenue from the Properties is recognized on a straight-line basis over the term of the respective lease. Percentage rents are only accrued when the tenant has reached the sales breakpoint stipulated in the lease.
	Rents and other receivables are comprised of billed but uncollected amounts due for monthly rents and other charges, and amounts due for scheduled rent increases for which rentals have been earned and will be collected in the future under the terms of the leases. Receivables are recorded at management’s estimate of the amounts that will be collected.
	Based on an analysis of specific accounts and historical experience, as of March 31, 2014, and December 31, 2013, there were no recorded values for allowance for doubtful accounts.
	The Partnership considers its operations to be in only one segment, the operation of a portfolio of commercial real estate leased on a triple net basis, and therefore no segment disclosure is made.
	Depreciation of the Properties are provided on a straight-line basis over the estimated useful lives of the buildings and improvements.
	Deferred charges represent leasing commissions paid when the Properties are leased and upon the negotiated extension of a lease. Leasing commissions are capitalized and amortized over the term of the lease. As of March 31, 2014 and December 31, 2013, accumulated amortization amounted to $136,963 and $129,795, respectively.
	Deferred tenant award proceeds escrow represents the portion of the award proceeds from the sale of the portion of the Mt. Pleasant, SC property that will be paid to the tenant ratably over 99 months beginning August 1, 2013.
	The Partnership generally maintains cash in federally insured accounts which, at times, may exceed federally insured limits. The Partnership has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk.
	Financial instruments that potentially subject the Partnership to significant concentrations of credit risk consist primarily of cash investments and leases. Additionally, as of March 31, 2014, nine of the Partnership’s twelve Properties are leased to three significant tenants, Wendgusta, LLC (“Wendgusta”), Wendcharles I, LLC (“Wendcharles I”) and Wendcharles II, LLC (“Wendcharles II”), all three of whom are Wendy’s restaurant franchisees. The property lease(s) for the three tenants comprised approximately 52%, 14% and 7%, respectively, of the total operating base rents reflected as of March 31, 2014.
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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.
	Assets disposed of or deemed to be classified as held for sale require the reclassification of current and previous years’ operations to discontinued operations in accordance with GAAP applicable to “Accounting for the Impairment or Disposal of Long Lived Assets”. As such, prior year operating results for those properties considered as held for sale or properties no longer considered for sale have been
	reclassified to conform to the current year presentation without affecting total income. When properties are considered held for sale, depreciation of the properties is discontinued, and the properties are valued at the lower of the depreciated cost or fair value, less costs to dispose. If circumstances arise that were previously considered unlikely, and, as a result, the property previously classified as held for sale is no longer to be sold, the property is reclassified as held and used. Such property is measured at the lower of its carrying amount (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or fair value at the date of the subsequent decision not to sell.
	Assets are classified as held for sale, generally, when all criteria within GAAP applicable to “Accounting for the Impairment or Disposal of Long Lived Assets” have been met.
	The Partnership periodically reviews its long-lived assets, primarily real estate, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Partnership’s review involves comparing current and future operating performance of the assets, the most significant of which is undiscounted operating cash flows, to the carrying value of the assets. Based on this analysis, a provision for possible loss is recognized, if any. There were no adjustments to carrying values for the three month periods ended March 31, 2014 and 2013.
Fair Value Measurements and Disclosure	'
	The Financial Accounting Standards Board (“FASB”) guidance on “Fair Value Measurements and Disclosure” defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measures required under other accounting pronouncements, but does not change existing guidance as to whether or not an instrument is carried at fair value. The adoption of the provisions of this FASB issuance, with respect to nonrecurring fair value measurements of nonfinancial assets and liabilities, including (but not limited to) the valuation of reporting units for the purpose of assessing goodwill impairment and the valuation of property and equipment when assessing long-lived asset impairment, did not have a material impact on how the Partnership estimated its fair value measurements but did result in increased disclosures about fair value measurements in the Partnership’s financial statements as of and for the three month period ended March 31, 2014 and the year ended December 31, 2013. See Note 12 for further disclosure.
	GAAP applicable to Disclosure About Fair Value of Financial Instruments, requires entities to disclose the fair value of all financial assets and liabilities for which it is practicable to estimate. Fair value is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The General Partner believes that the carrying value of the Partnership’s assets (exclusive of the Properties) and liabilities approximate fair value due to the relatively short maturity of these instruments.
	No provision for federal income taxes has been made, as any liability for such taxes would be that of the individual partners rather than of the Partnership.
	The Partnership is not subject to federal income tax because its income and losses are includable in the tax returns of its partners, but may be subject to certain state taxes. FASB has provided guidance for how uncertain tax positions should be recognized, measured, disclosed and presented in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the entity’s tax returns to determine whether the tax positions are more-likely-than-not of being sustained when challenged or when examined by the applicable taxing authority. Management has determined that there were no material uncertain income tax positions. Tax returns filed by the Partnership generally are subject to examination by U.S. and state taxing authorities for the years ended after December 31, 2009.

LEASES_Tables

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Mar. 31, 2014
Leases [Abstract]	'
Operating Leases for Properties	'
	As of March 31, 2014, the aggregate minimum operating lease payments (including the aggregate total of the first quarter of 2014 collected revenues of $258,648) to be received under the current operating leases for the Properties are as follows:
	Year ending December 31,


	2014	$	952,462
	2015		804,553
	2016		791,935
	2017		720,433
	2018		690,433
	Thereafter		2,268,849

		$	6,228,665

TRANSACTIONS_WITH_GENERAL_PART1

TRANSACTIONS WITH GENERAL PARTNER AND ITS AFFILIATES (Tables)

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Amounts Paid and/or Accrued to General Partner and its Affiliates

Amounts paid and/or accrued to the General Partner and its affiliates for the three month periods ended March 31, 2014 and 2013 are as follows:

Three Month Period

ended

March 31, 2014

March 31, 2013

(Unaudited)

General Partner

Management fees

65,049

63,858

Overhead allowance

5,248

5,151

Other outsourced administrative fees

1,088

4,350

Reimbursement for out-of-pocket expenses

1,162

1,202

Cash distribution

107

72,547

74,668

Security Ownership of Partnership Principal Executive Officer and Principal Financial Officer

The following chart identifies the security ownership of the Partnership’s principal executive officer and principal financial officer as the sole named executive officer holding any Limited Partnership Interests:

Title of

Name of

Amount and

Percentage of

Class

Beneficial Owner(1)

Nature of

Class

Beneficial

Outstanding(4)

Ownership

Limited Partnership Interest

Bruce A. Provo

200

(2)(3)

0.43

-1

-2

Bruce A. Provo is deemed to have beneficial ownership of all of TPG Finance Corp.’s Limited Partnership interests in the Partnership due to his control as President of TPG Finance Corp.

-3

Bruce A. Provo may be deemed to beneficially own the Limited Partnership Interests listed above due to such voting and investment power.

-4

Based on 46,280.3 Limited Partnership Interests outstanding as of March 31, 2014.

TRANSACTIONS_WITH_OWNERS_WITH_1

TRANSACTIONS WITH OWNERS WITH GREATER THAN TEN PERCENT BENEFICIAL INTERESTS (Tables)	3 Months Ended
	Mar. 31, 2014
Text Block [Abstract]	'
Advisory Board Fees Paid to Jesse Small	'
	As of March 31, 2014, Jesse Small, an Advisory Board Member, beneficially owned greater than ten percent of the Partnership’s Limited Partnership Interests. Amounts paid to Mr. Small for his services as a member of the Advisory Board for the three month periods ended March 31, 2014 and 2013 are as follows:


		Incurred for the		Incurred for the
		Three Month		Three Month
		Period ended		Period ended
		March 31, 2014		March 31, 2013
		(Unaudited)		(Unaudited)
	Advisory Board
	Fees paid	$	875	$	875

Recovered_Sheet1

Organization and Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 1987
	Property
	State
	Tenants
Organization And Significant Accounting Policies [Line Items]	'	'	'	'
Aggregate capital contributions	'	'	'	$300
Number of Properties leased	12	'	'	'
Number of states Partnership Property Located	5	'	'	'
Allowance for doubtful accounts	0	'	0	'
Accumulated amortization	136,963	'	129,795	'
Number of partnership's Properties leased to significant tenants	9	'	'	'
Number of significant tenants	3	'	'	'
Adjustments to carrying values	0	0	'	'
Federal income taxes	0	'	'	'
General Partner [Member]	'	'	'	'
Organization And Significant Accounting Policies [Line Items]	'	'	'	'
Aggregate capital contributions	'	'	'	200
Limited Partners [Member]	'	'	'	'
Organization And Significant Accounting Policies [Line Items]	'	'	'	'
Aggregate capital contributions	'	'	'	$100
Number of Properties leased	12	'	'	'
Number of states Partnership Property Located	5	'	'	'
Wendgusta [Member]	'	'	'	'
Organization And Significant Accounting Policies [Line Items]	'	'	'	'
Property lease(s)	52.00%	'	'	'
Wendcharles I [Member]	'	'	'	'
Organization And Significant Accounting Policies [Line Items]	'	'	'	'
Property lease(s)	14.00%	'	'	'
Wendcharles II [Member]	'	'	'	'
Organization And Significant Accounting Policies [Line Items]	'	'	'	'
Property lease(s)	7.00%	'	'	'

Regulatory_Investigation_Addit

Regulatory Investigation - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 1993
	Mar. 31, 2014	PartnershipUnit
Regulatory Investigation [Abstract]	'	'
Number of partnership relating to regulatory investigation	'	3
Estimated an aggregate recovery	$5,918,000	$3,000,000
Affiliates reflecting estimated receivable	3,000,000	3,000,000
Recovery of amounts previously written off	$1,229,000	'

Recovered_Sheet2

Investment Properties and Properties Held for Sale - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2014
	Property
	State
Long Lived Assets Held-for-sale [Line Items]	'
Property leased to fully constructed fast-food restaurants	12
Location of properties	5
Lease Expiration Date	31-May-14
Notice of Default Expiration Date	23-Feb-14
Wendy's restaurants [Member]	'
Long Lived Assets Held-for-sale [Line Items]	'
Property leased to fully constructed fast-food restaurants	9
Applebee's restaurant [Member]	'
Long Lived Assets Held-for-sale [Line Items]	'
Property leased to fully constructed fast-food restaurants	1
KFC Restaurant [Member]	'
Long Lived Assets Held-for-sale [Line Items]	'
Property leased to fully constructed fast-food restaurants	1
Daytona's All Sports Cafe [Member]	'
Long Lived Assets Held-for-sale [Line Items]	'
Property leased to fully constructed fast-food restaurants	1

Partnership_Agreement_Addition

Partnership Agreement - Additional Information (Detail)	26-May-93
Partnership Agreement [Line Items]	'
Compensation percentage on the basis of contract price	6.00%
General Partner [Member]	'
Partnership Agreement [Line Items]	'
Net profits or losses from operations	1.00%
General Partner [Member] \| Minimum [Member]	'
Partnership Agreement [Line Items]	'
Partners share in competitive real estate commission	3.00%
General Partner [Member] \| Maximum [Member]	'
Partnership Agreement [Line Items]	'
Partners share in competitive real estate commission	50.00%
Limited Partners [Member]	'
Partnership Agreement [Line Items]	'
Net profits or losses from operations	99.00%

Leases_Additional_Information_

Leases - Additional Information (Detail) (USD $)	3 Months Ended
Leases - Additional Information (Detail) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Operating Leased Assets [Line Items]	'	'	'
Operating lease revenues collected	$258,648	$256,205	'
Rents and other receivables	$15,858	'	$470,478
Maximum [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Original lease terms of properties	'20 years	'	'
Minimum [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Original lease terms of properties	'5 years	'	'

Leases_Operating_Leases_for_Pr

Leases - Operating Leases for Properties (Detail) (USD $)	Dec. 31, 2013
Leases [Abstract]	'
2014	$952,462
2015	804,553
2016	791,935
2017	720,433
2018	690,433
Thereafter	2,268,849
Total	$6,228,665

Recovered_Sheet3

Transactions with General Partner and its Affiliates - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 01, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]	'	'	'
Renewal period of Permanent Manager Agreement	'2 years	'	'
Minimum amount of Base Fee for managing partnership	$159,000	'	'
Percentage of Base Fee on gross receipts	4.00%	'	'
Maximum reimbursement on office rent and related expenses	13,250	'	'
Percentage of increase in Base Fee and Expense reimbursement	'	1.46%	'
Increase in minimum monthly Base Fee	'	262,716	'
Increase in maximum monthly expense reimbursement	'	21,192	'
Fees received from partnership, by General Partner	59,729	'	'
Payable to General Partner	$0	'	$1,227
TPG Finance Corp. [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Limited Partnership Interests	200	'	200
General Partner [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Limited Partnership Interests	0	'	'

Recovered_Sheet4

Transactions with General Partner and its Affiliates - Amounts paid and/or accrued to the General Partner and its Affiliates (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Related Party Transactions [Abstract]	'	'
Management fees	$65,049	$63,858
Overhead allowance	5,248	5,151
Other outsourced administrative fees	1,088	4,350
Reimbursement for out-of-pocket expenses	1,162	1,202
Cash distribution	0	107
Total general partner	$72,547	$74,668

Transactions_with_General_Part2

Transactions with General Partner and Its Affiliates - Security Ownership of Partnership Principal Executive Officer and Principal Financial Officer (Detail) (Limited Partners [Member])	3 Months Ended
	Mar. 31, 2014
Limited Partners [Member]	'
Related Party Transaction [Line Items]	'
Name of Beneficial Owner	'Bruce A. Provo
Amount and Nature of Beneficial Ownership	200
Percentage of Class Outstanding	0.43%

Transactions_with_General_Part3

Transactions with General Partner and Its Affiliates - Security Ownership of Partnership Principal Executive Officer and Principal Financial Officer (Parenthetical) (Detail)	Mar. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]	'	'
Limited Partnership Interests outstanding	46,280.30	46,280.30

Recovered_Sheet5

Transactions with Owners with Greater than Ten Percent Beneficial Interests - Advisory Board Fees Paid to Jesse Small (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Related Party Transactions [Abstract]	'	'
Advisory Board Fees paid	$875	$875

Recovered_Sheet6

Transactions with Owners with Greater than Ten Percent Beneficial Interests - Additional Information (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]	'	'
Outstanding Advisory Board Fees	$0	$0

Contingent_Liabilities_Additio

Contingent Liabilities - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014
	Property
Commitments And Contingencies Disclosure [Abstract]	'
Maximum disposition fee on sale of partnership properties	3.00%
Number of partnership properties for sale	3
Percentage of disposition fees to be escrowed	50.00%
Amount of recovery of funds	$4,500,000
Recovery level	6,000,000
Payable fee on achieving recovery level	$16,296

PMA_Indemnification_Trust_Addi

PMA Indemnification Trust - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Pma Indemnification Trust [Abstract]	'	'
Reserve related to Partnership assets	$250,000	'
Earnings credited to the Trust	202,806	'
Partnership liability	'	'

Recovered_Sheet7

Former General Partners' Capital Accounts - Additional Information (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 1993	26-May-93
Former General Partners Capital Accounts [Abstract]	'	'	'	'
Reallocation of Former General Partners' Deficit Capital	$840,229	$840,229	$840,229	$840,229

Note_Receivable_Additional_Inf

Note Receivable - Additional Information (Detail) (USD $)	0 Months Ended			1 Months Ended	3 Months Ended
	Nov. 15, 2009	Nov. 12, 2009	Sep. 30, 2009	Oct. 31, 2012	Mar. 31, 2014	Dec. 31, 2009	Dec. 31, 2013	Jan. 01, 2013	Oct. 19, 2012	Dec. 01, 2009
	Nov. 15, 2009	Nov. 12, 2009	Sep. 30, 2009	Oct. 31, 2012	Note	Dec. 31, 2009	Dec. 31, 2013	Jan. 01, 2013	Oct. 19, 2012	Dec. 01, 2009
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'	'	'	'	'	'	'
Sale price of property	$450,000	$450,000	$520,000	'	'	'	'	'	'	'
Promissory note term	'	'	'	'	'	'3 years	'	'	'	'
Buyer's Note, interest rate	'	'	'	'	7.25%	'	'	'	'	7.25%
Buyer's Note, principal amortized period	'	'	'	'	'5 years	'10 years	'	'	'	'
Partnership amended the Buyers note amounted, principal	'	'	'	'	'	'	'	'	200,000	'
Partnership amended the Buyers note amounted	'	'	'	'	'	'	'	'	232,777	'
Amount of full balloon payment due	'	'	'	'	133,396	'	'	'	'	'
Original balloon payment due date	'	'	'	'	1-Nov-12	'	'	'	'	'
Principal payments	'	'	'	32,777	'	'	'	'	'	'
Escrow property taxes	'	'	'	'	19,673	'	25,697	925	'	'
Penalty for early payment of principal	'	'	'	'	0	'	'	'	'	'
Buyer's Note amortization schedule, monthly payments	'	'	'	'	3,916	'	'	'	'	'
Number of note payments	'	'	'	'	3	'	'	'	'	'
Amortized principal payments receivable	'	'	'	'	154,652	'	163,491	'	'	'
Cash [Member]	'	'	'	'	'	'	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'	'	'	'	'	'	'
Sale price of property	'	150,000	'	'	'	'	'	'	'	'
Promissory note ("Buyers Note") [Member]	'	'	'	'	'	'	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'	'	'	'	'	'	'
Sale price of property	'	300,000	'	'	'	'	'	'	'	'
Partnership [Member]	'	'	'	'	'	'	'	'	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'	'	'	'	'	'	'
Amended balloon payment due date	'	'	'	'	1-Nov-14	'	'	'	'	'
Principal payments	'	'	'	'	8,839	'	'	'	'	'
Escrow property taxes	'	'	'	'	4,165	'	'	'	'	'
Interest payments	'	'	'	'	$2,910	'	'	'	'	'

Fair_Value_Disclosures_Additio

Fair Value Disclosures - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Fair Value Disclosures [Abstract]	'	'
Transfer between levels	$0	$0