Divall Insured Income Properties 2 Limited Partnership (DIVVZ) 10-Q 12 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document And Entity Information
Entity Registrant Name	DIVALL INSURED INCOME PROPERTIES 2 LIMITED PARTNERSHIP
Entity Central Index Key	825,788
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	0
Trading Symbol	DIVXZ
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
INVESTMENT PROPERTIES: (Note 3)
Land	$ 2,794,122	$ 2,794,122
Buildings	4,468,642	4,468,642
Accumulated depreciation	(3,870,590)	(3,802,913)
Net investment properties	3,392,174	3,459,851
OTHER ASSETS:
Cash	260,514	246,791
Cash held in Indemnification Trust (Note 9)	453,687	453,171
Property tax cash escrow	9,481	3,931
Security deposits escrow	70,808	70,617
Rents and other receivables	89,447	549,289
Deferred tenant award proceeds escrow	117,788	126,523
Prepaid insurance	1,954	4,885
Deferred charges, net	119,484	133,014
Note receivable (Note 10)	26,450	57,157
Total other assets	1,149,613	1,645,378
Total assets	4,541,787	5,105,229
CURRENT LIABILITIES:
Accounts payable and accrued expenses	48,935	13,353
Property tax payable	8,556	3,006
Due to General Partner (Note 6)	392	1,416
Deferred rent	117,050	128,024
Security deposits	70,440	70,440
Unearned rental income	5,000	5,000
Total current liabilities	250,373	221,239
General Partner -
Cumulative net income (retained earnings)	352,208	350,928
Cumulative cash distributions	(146,204)	(145,692)
Total general partners' capital	206,004	205,236
Limited Partners (46,280.3 interests outstanding at June 30, 2016 and December 31, 2015)
Capital contributions	46,280,300	46,280,300
Offering Costs	(6,921,832)	(6,921,832)
Cumulative net income (retained earnings)	41,234,439	41,107,783
Cumulative cash distributions	(75,667,268)	(74,947,268)
Total limited partners' capital	4,925,639	5,518,983
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	4,291,414	4,883,990
Total liabilities and partners' capital	$ 4,541,787	$ 5,105,229

Condensed Balance Sheets (Unau3

Condensed Balance Sheets (Unaudited) (Parenthetical) - shares	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Statement of Financial Position [Abstract]
Limited Partners' capital account, interests outstanding	46,280.3	46,280.3	46,280.3

Condensed Statements of Income

Condensed Statements of Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
OPERATING REVENUES:
Rental income (Note 5)	$ 332,874	$ 309,142	$ 576,301	$ 551,847
TOTAL OPERATING REVENUES	332,874	309,142	576,301	551,847
OPERATING EXPENSES
Partnership management fees (Note 6)	66,825	66,744	138,983	132,778
Insurance	1,465	1,465	2,931	2,931
General and administrative	13,486	18,493	27,406	39,540
Advisory Board fees and expenses	2,625	2,625	5,250	5,250
Professional services	111,104	55,005	196,570	162,830
Depreciation	33,839	33,839	67,678	67,678
Amortization	6,765	6,765	13,530	13,530
TOTAL OPERATING EXPENSES	236,109	184,936	452,348	424,537
OTHER INCOME
Interest income	584	1,047	2,372	2,700
Note receivable interest income (Note 10)	667	1,747	1,611	3,753
TOTAL OTHER INCOME	1,251	2,794	3,983	6,453
INCOME FROM CONTINUING OPERATIONS	98,016	127,000	127,936	133,763
INCOME (LOSS) FROM DISCONTINUED OPERATIONS (Notes 1 and 3)	0	75	0	(67)
NET INCOME	98,016	127,075	127,936	133,696
NET INCOME - GENERAL PARTNER	981	1,271	1,280	1,337
NET INCOME - LIMITED PARTNERS	97,035	125,804	126,656	132,359
NET INCOME	$ 98,016	$ 127,075	$ 127,936	$ 133,696
PER LIMITED PARTNERSHIP INTEREST, Based on 46,280.3 interests outstanding:
INCOME FROM CONTINUING OPERATIONS	$ 2.10	$ 2.72	$ 2.74	$ 2.86
INCOME FROM DISCONTINUED OPERATIONS	0	0	0	0
NET INCOME PER LIMITED PARTNERSHIP INTEREST	$ 2.10	$ 2.72	$ 2.74	$ 2.86

Condensed Statements of Income5

Condensed Statements of Income (Loss) (Parenthetical) - shares	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Income Statement [Abstract]
Limited Partners' capital account, interests outstanding	46,280.3	46,280.3	46,280.3

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 127,936	$ 133,696
Adjustments to reconcile net income to net cash from operating activities -
Depreciation and amortization	81,208	81,208
Interest applied to Indemnification Trust account	(516)	(111)
Decrease in rents and other receivables	459,842	434,309
Increase in property tax cash escrow	(5,550)	(5,550)
Increase in security deposit escrow	(191)	(264)
Decrease in prepaid insurance	2,931	5,643
Increase (decrease) in accounts payable and accrued expenses	35,582	(7,868)
Increase in property tax payable	5,550	5,550
Decrease in deferred award escrow	8,735	10,436
Decrease in prepaid rent	0	(5,000)
Decrease in due to General Partner	(1,024)	(2,745)
Net cash from operating activities	714,503	649,304
CASH FLOWS FROM INVESTING ACTIVITIES:
Note receivable, principal payment received	30,707	28,565
Deferred rent	(10,974)	(10,974)
Net cash from investing activities	19,733	17,591
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash distributions to Limited Partners	(720,000)	(1,150,000)
Cash distributions to General Partner	(512)	(535)
Net cash used in financing activities	(720,512)	(1,150,535)
NET INCREASE (DECREASE) IN CASH	13,725	(483,640)
CASH AT BEGINNING OF YEAR	246,791	704,531
CASH AT END OF PERIOD	$ 260,514	$ 220,891

Organization and Significant Ac

Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES: DiVall Insured Income Properties 2 Limited Partnership (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. A subsequent offering of limited partnership interests closed on February 22, 1990, with 46,280.3 limited partnership interests having been sold in that offering, resulting in total proceeds to the Partnership, net of underwriting compensation and other offering costs, of $39,358,468. The Partnership is currently engaged in the business of owning and operating its investment portfolio of commercial real estate properties (each a “Property”, and collectively, 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 primarily under long-term leases. The lessees are operators of fast food, family style, and casual/theme restaurants. As of June 30, 2016, the Partnership owned eleven Properties, which are located in a total of four 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 General Partner, that the Partnership’s assets may constitute “plan assets” for purposes of ERISA; (c) the approval by limited partners owning a majority of the outstanding limited partner 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 previously by a majority of the limited partners. During the second or third quarters of the eight odd numbered years from 2001- 2015, consent solicitations were circulated to the Partnership’s limited partners which, if approved by the limited partners, would have authorized the General Partner to initiate the potential sale of all of the Properties and the dissolution of the Partnership (each a “Consent”). Limited partners owning a majority of the Interests did not vote in favor of any of the Consents. 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 June 30, 2016, and December 31, 2015, there was $0 recorded as 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 June 30, 2016 and December 31, 2015, accumulated amortization amounted to $172,054 and $158,524, respectively. Deferred tenant award proceeds escrow represents the portion of the award proceeds from the sale of the Mt. Pleasant, South Carolina Property that began being paid to the tenant ratably over 99 months starting 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 June 30, 2016, nine of the eleven 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 leases for these three tenants comprised approximately 56%, 15% and 8%, respectively, of the Partnership’s total operating base rents reflected as of June 30, 2016. 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 or six month periods ended June 30, 2016 and 2015. 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 and six month periods ended June 30, 2016 and the year ended December 31, 2015. See Note 11 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, 2012.

Regulatory Investigation

Regulatory Investigation	6 Months Ended
	Jun. 30, 2016
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”, and together with the Partnership and DiVall 1, the “three original partnerships”), which was dissolved December of 2003, to various other entities previously sponsored by or otherwise affiliated with DiVall and Magnuson. The unauthorized transfers were in violation of the respective partnership agreements and resulted, in part, from material weaknesses in the internal control systems of the three original partnerships. Subsequent to discovery, and in response to the regulatory inquiries, The Provo Group, Inc. (“TPG” or the “General Partner”) 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 of the Partnership, by written consent of the holders of a majority of the limited partnership interests, elected TPG as general partner of the Partnership. 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 June 30, 2016, 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 June 30, 2016, 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 Prope

Investment Properties and Properties Held for Sale	6 Months Ended
	Jun. 30, 2016
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 of the Partnership. As of June 30, 2016, the Properties were leased to the operators of eleven fully constructed fast-food restaurants. The tenants are comprised of, and operate, the following: nine Wendy’s restaurants, an Applebee’s restaurant, and a KFC restaurant. The Properties are located in a total of four states. Discontinued Operations During the three month periods ended June 30, 2016 and 2015, the Partnership recognized income from discontinued operations of $0 and $75, respectively. During the six month periods ended June 30, 2016 and 2015, the Partnership recognized loss from discontinued operations of $0 and $(67), respectively. The income and loss is made up of revenues earned from a former tenant, Daytona’s, during its occupancy through May 31, 2014, and the costs to maintain the then vacant Des Moines, Iowa property while it was held for sale and after the tenant vacated. These costs include utilities, property insurance and real estate taxes. The components of discontinued operations included in the condensed statement of income (loss) for the three and six month periods ended June 30, 2016 and 2015 are outlined below: Three Month Three Month Six Month Six Month Period ended Period ended Period ended Period ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Statements of Income (Loss): Revenues: Rental income $ 0 $ 0 $ 0 $ 0 Total Revenues $ 0 $ 0 $ 0 $ 0 Expenses: Other property expenses 0 (75 ) 0 67 Total Expenses $ 0 $ (75 ) $ 0 $ 67 Net Income (Loss) from Discontinued Operations $ 0 $ 75 $ 0 $ (67 )

Partnership Agreement

Partnership Agreement	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Partnership Agreement	4. PARTNERSHIP AGREEMENT: The Amended Agreement of Limited Partnership was amended, effective as of November 9, 2009, to extend 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. Under the terms of the Partnership Agreement, as amended, net profits or losses from operations are allocated 99% to the limited partners and 1% to the current General Partner. The amendment also provided for distributions from Net Cash Receipts, as defined, to be made 99% to limited partners and 1% to the current General Partner, provided that quarterly distributions are cumulative and are not to be made to the current General Partner unless and until each limited partner has received a distribution from Net Cash Receipts in an amount equal to 10% per annum, cumulative simple return on his, her or its Adjusted Original Capital, as defined, from the Return Calculation Date, as defined, except to the extent needed by the General Partner to pay its federal and state income taxes on the income allocated to it attributable to such year. The provisions regarding distribution of Net Proceeds, as defined, provide that Net Proceeds are to be distributed as follows: (a) to the limited partners, an amount equal to 100% of their Adjusted Original Capital; (b) then, to the limited partners, an amount necessary to provide each limited partner a liquidation preference equal to a 13.5% per annum, cumulative simple return on Adjusted Original Capital from the Return Calculation Date including in the calculation of such return on all prior distributions of Net Cash Receipts and any prior distributions of Net Proceeds under this clause, except to the extent needed by the General Partner to pay its federal and state income tax on the income allocated to it attributable to such year; and (c) then, to limited partners, 99%, and to the General Partner, 1%, of remaining Net Proceeds available for distribution.

Leases

Leases	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016, the aggregate minimum operating lease payments (including the aggregate total of the first two quarters of 2016 collected revenues of $486,853) to be received under the current operating leases for the Properties are as follows: Year ending December 31, 2016 $ 939,632 2017 871,084 2018 818,061 2019 660,433 2020 660,433 Thereafter 947,983 $ 4,897,626 At June 30, 2016 and December 31, 2015, rents and other receivables included $89,447 and $549,289, respectively, of unbilled percentage rents. As of June 30, 2016, all of the 2015 percentage rents had been billed and collected.

Transactions with General Partn

Transactions with General Partner and its Affiliates	6 Months Ended
	Jun. 30, 2016
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, 2015, the General Partner receives a base fee (the “Base Fee”) for managing the Partnership equal to four percent of gross receipts, subject initially to a minimum annual Base Fee. 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, 2016, the minimum annual Base Fee and the maximum Expenses reimbursement increased by 0.12% from the prior year, which represents the allowable annual Consumer Price Index adjustment per the PMA. Therefore, as of March 1, 2016, the minimum annual Base Fee paid by the Partnership was raised to $267,300 and the maximum annual Expenses reimbursement was increased to $21,564. 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. Through the quarter ended June 30, 2016, in total the General Partner had 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 and six month periods ended June 30, 2016 and 2015 are as follows: Three Month Three Month Six Month Six Month Period ended Period ended Period ended Period ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 (Unaudited) (Unaudited) (Unaudited) (Unaudited) General Partner Management fees $ 66,825 $ 66,744 $ 133,596 $ 132,778 Overhead allowance 5,391 5,385 10,778 10,712 Other outsourced administrative fees 0 300 0 788 Reimbursement for out-of-pocket expenses 0 0 2,500 2,500 Cash distribution due to partner 392 509 512 535 $ 72,608 $ 72,938 $ 147,386 $ 147,313 At June 30, 2016 and December 31, 2015, $392 and $1,416, respectively, was payable to the General Partner. As of June 30, 2016 and December 31, 2015, TPG Finance Corp. owned 200 limited partnership interests 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 June 30, 2016, the General Partner did not own any limited partnership interests in the Partnership. The following table identifies the beneficial ownership of Mr. Provo, who, controls the General Partner, and performs the functions of the Partnership’s principal executive officer. Mr. Provo is the only person performing the function of an executive officer of the Partnership that beneficially owns any limited partnership interests. Title of Class Name of Beneficial Owner(1) Amount and Nature of Beneficial Ownership Percentage of Class Outstanding(3) Limited Partnership Interest Bruce A. Provo 200 (2) 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) Based on 46,280.3 limited partnership interests outstanding as of June 30, 2016.

Transactions with Owners with G

Transactions with Owners with Greater than Ten Percent Beneficial Interests	6 Months Ended
	Jun. 30, 2016
Transactions With Owners With Greater Than Ten Percent Beneficial Interests
Transactions with Owners with Greater than Ten Percent Beneficial Interests	7. TRANSACTIONS WITH OWNERS WITH GREATER THAN TEN PERCENT BENEFICIAL INTERESTS: As of June 30, 2016, Jesse Small, an Advisory Board Member, beneficially owned greater than ten percent of the Partnership’s outstanding limited partnership interests. Amounts paid to Mr. Small for his services as a member of the Advisory Board for the three and six month periods ended June 30, 2016 and 2015 are as follows: Three Month Period ended June 30, 2016 Three Month Period ended June 30, 2015 Six Month Period ended June 30, 2016 Six Month Period ended June 30, 2015 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Advisory Board Fees paid $ 875 $ 875 $ 1,750 $ 1,750 At June 30, 2016 and December 31, 2015 there were no outstanding Advisory Board fees accrued and payable to Jesse Small.

Contingent Liabilities

Contingent Liabilities	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	8. CONTINGENT LIABILITIES: According to the Partnership Agreement, as amended, TPG, as 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 three 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 (See 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 June 30, 2016, the Partnership may owe TPG $16,296 if the $6,000,000 recovery level is achieved. TPG does not expect any future refund, as it is uncertain that such a $6,000,000 recovery level will be achieved.

PMA Indemnification Trust

PMA Indemnification Trust	6 Months Ended
	Jun. 30, 2016
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 will 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, $203,687 of earnings has been credited to the Trust as of June 30, 2016. 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.

Note Receivable

Note Receivable	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Note Receivable	10. NOTE RECEIVABLE: A sales contract was executed on September 30, 2009 for the installment sale of the Partnership’s former property operated as a Panda Buffet restaurant (“Panda Buffet”) located in Grand Forks, ND to the owner tenant. The Partnership completed the sale of the Panda Buffet property on November 12, 2009 for $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 (the “Buyers Note”) to the Partnership. The Buyers Note originally had a term of three years, an interest rate of 7.25%, and principal and interest payments paid monthly. Principal was amortized over a period of ten years beginning December 1, 2009 with a balloon payment originally scheduled to be due on November 1, 2012. The Buyers Note also requires the buyer to escrow property taxes with the Partnership which, as of January 1, 2013, was $925 per month. Effective 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 was to be amortized over five years at an interest rate of 7.25% per annum with a full balloon payment due November 1, 2014. Effective November 1, 2014, the Partnership agreed to another two year extension as follows: buyer made a principal payment of $13,396 which reduced the principal balance to $120,000 as of November 1, 2014, and the loan is scheduled to be paid off by October 31, 2016. Per the Buyers Note amortization schedule, the monthly payments total approximately $5,386 per month. The amortized principal payments yet to be received under the Buyers Note amounted to $26,450 as of June 30, 2016. During the six month period ended June 30, 2016, six note payments were received by the Partnership and totaled $30,707 in principal and $1,611 in interest.

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	11. 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 June 30, 2016 and 2015, there were no such transfers.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS Applebee’s – 2755 Brice Road, Columbus, OH On July 8, 2016, the tenant, RMH Franchise Corporation, and the Partnership, agreed to a two year extension of a lease for the Property operated as an Applebee’s restaurant upon the exercise of an option to extend the lease. That lease now expires October 31, 2018 and the rent will increase by 2% each year, effective November 1, 2016 and 2017. We have reviewed all material events through the date of this report in accordance with ASC 855-10.

Organization and Significant 19

Organization and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [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 June 30, 2016, and December 31, 2015, there was $0 recorded as 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 June 30, 2016 and December 31, 2015, accumulated amortization amounted to $172,054 and $158,524, respectively. Deferred tenant award proceeds escrow represents the portion of the award proceeds from the sale of the Mt. Pleasant, South Carolina Property that began being paid to the tenant ratably over 99 months starting 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 June 30, 2016, nine of the eleven 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 leases for these three tenants comprised approximately 56%, 15% and 8%, respectively, of the Partnership’s total operating base rents reflected as of June 30, 2016. 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 or six month periods ended June 30, 2016 and 2015. 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 and six month periods ended June 30, 2016 and the year ended December 31, 2015. See Note 11 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, 2012.

Investment Properties and Pro20

Investment Properties and Properties Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Components of Discontinued Operations Included in Statements of Income (Loss)	The components of discontinued operations included in the condensed statement of income (loss) for the three and six month periods ended June 30, 2016 and 2015 are outlined below: Three Month Three Month Six Month Six Month Period ended Period ended Period ended Period ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Statements of Income (Loss): Revenues: Rental income $ 0 $ 0 $ 0 $ 0 Total Revenues $ 0 $ 0 $ 0 $ 0 Expenses: Other property expenses 0 (75 ) 0 67 Total Expenses $ 0 $ (75 ) $ 0 $ 67 Net Income (Loss) from Discontinued Operations $ 0 $ 75 $ 0 $ (67 )

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Schedule of Operating Leases for Properties	Year ending December 31, 2016 $ 939,632 2017 871,084 2018 818,061 2019 660,433 2020 660,433 Thereafter 947,983 $ 4,897,626

Transactions with General Par22

Transactions with General Partner and its Affiliates (Tables)	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Schedule of 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 and six month periods ended June 30, 2016 and 2015 are as follows: Three Month Three Month Six Month Six Month Period ended Period ended Period ended Period ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 (Unaudited) (Unaudited) (Unaudited) (Unaudited) General Partner Management fees $ 66,825 $ 66,744 $ 133,596 $ 132,778 Overhead allowance 5,391 5,385 10,778 10,712 Other outsourced administrative fees 0 300 0 788 Reimbursement for out-of-pocket expenses 0 0 2,500 2,500 Cash distribution due to partner 392 509 512 535 $ 72,608 $ 72,938 $ 147,386 $ 147,313
Schedule of Beneficial Ownership of Partnership's Principal Executive Officer	The following table identifies the beneficial ownership of Mr. Provo, who, controls the General Partner, and performs the functions of the Partnership’s principal executive officer. Mr. Provo is the only person performing the function of an executive officer of the Partnership that beneficially owns any limited partnership interests. Title of Class Name of Beneficial Owner(1) Amount and Nature of Beneficial Ownership Percentage of Class Outstanding(3) Limited Partnership Interest Bruce A. Provo 200 (2) 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) Based on 46,280.3 limited partnership interests outstanding as of June 30, 2016.

Transactions with Owners with23

Transactions with Owners with Greater than Ten Percent Beneficial Interests (Tables)	6 Months Ended
	Jun. 30, 2016
Transactions With Owners With Greater Than Ten Percent Beneficial Interests
Schedule of Advisory Board Fees Paid to Jesse Small	Amounts paid to Mr. Small for his services as a member of the Advisory Board for the three and six month periods ended June 30, 2016 and 2015 are as follows: Three Month Period ended June 30, 2016 (Unaudited) Three Month Period ended June 30, 2015 (Unaudited) Six Month Period ended June 30, 2016 (Unaudited) Six Month Period ended June 30, 2015 (Unaudited) Advisory Board Fees paid $ 875 $ 875 $ 1,750 $ 1,750

Organization and Significant 24

Organization and Significant Accounting Policies (Details Narrative) - USD ($)	Aug. 01, 2013	Feb. 22, 1990	Dec. 31, 1987	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Aggregate capital contributions			$ 300
Limited partnership interests outstanding		46,280.3
Proceeds to Partnership, net of underwriting compensation and other offering costs		$ 39,358,468
Allowance for doubtful accounts				$ 0		$ 0
Accumulated amortization				172,054		$ 158,524
Deferred tenant award proceeds escrow, payment period	99 months
Adjustments to carrying values
Wendgusta [Member]
Percentage of property leases for three tenants comprised				56.00%
Wendcharles I [Member]
Percentage of property leases for three tenants comprised				15.00%
Wendcharles II [Member]
Percentage of property leases for three tenants comprised				8.00%
General Partner [Member]
Aggregate capital contributions			200
Limited Partner [Member]
Aggregate capital contributions			$ 100

Regulatory Investigation (Detai

Regulatory Investigation (Details Narrative)	6 Months Ended	12 Months Ended	246 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 1993USD ($)Integer	Jun. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of partnership relating to regulatory investigation | Integer		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

Investment Properties and Pro26

Investment Properties and Property Held for Sale (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)RestaurantStates	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)RestaurantStates	Jun. 30, 2015USD ($)
Property leased to fully constructed fast-food restaurants	11		11
Location of properties | States	4		4
Income from discontinued operations | $			$ 0	$ 75
Partnership recognized income (loss) from discontinued operations | $	$ 0	$ 75	$ 0	$ (67)
Wendy's Restaurants [Member]
Property leased to fully constructed fast-food restaurants	9		9
KFC Restaurant [Member]
Property leased to fully constructed fast-food restaurants	1		1
Applebee's Restaurant [Member]
Property leased to fully constructed fast-food restaurants	1		1

Investment Properties and Pro27

Investment Properties and Properties Held for Sale - Components of Discontinued Operations Included in Statements of Income (Loss) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Real Estate [Abstract]
Rental Income	$ 0	$ 0	$ 0	$ 0
Total Revenues	0	0	0	0
Other property expenses	0	(75)	0	67
Total Expenses	0	(75)	0	67
Net Income (Loss) from Discontinued Operations	$ 0	$ 75	$ 0	$ (67)

Partnership Agreement (Details

Partnership Agreement (Details Narrative)	Jun. 30, 2016
Limited Partner [Member]
Net profits or losses from operations amended	99.00%
Amended rate of net proceeds were to be distributed	99.00%
Cumulative simple return on adjusted original capital	10.00%
Amended distributions as percentage of adjusted original capital	100.00%
Liquidation preference of limited partners amended	13.50%
Net proceeds avaliable for distribution	99.00%
General Partner [Member]
Net profits or losses from operations amended	1.00%
Amended rate of net proceeds were to be distributed	1.00%
Net proceeds avaliable for distribution	1.00%

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Minimum operating lease payments	$ 486,853
Rents and other receivables	$ 89,447	$ 549,289
Minimum [Member]
Original lease terms of properties	5 years
Maximum [Member]
Original lease terms of properties	20 years

Leases - Schedule of Operating

Leases - Schedule of Operating Leases for Properties (Details)	Jun. 30, 2016USD ($)
Leases [Abstract]
2,016	$ 939,632
2,017	871,084
2,018	818,061
2,019	660,433
2,020	660,433
Thereafter	947,983
Total	$ 4,897,626

Transactions with General Par31

Transactions with General Partner and its Affiliates (Details Narrative) - USD ($)	Mar. 01, 2016	Jan. 02, 2015	Jun. 30, 2016	Dec. 31, 2015
Minimum amount of base fee for managing partnership	$ 267,300
Maximum reimbursement on office rent and related expenses	$ 21,564	$ 13,250
Percentage of increase in base fee and expense reimbursement	0.12%
General Partner [Member]
Percentage of Base Fee on gross receipts			4.00%
Fees received from partnership, by General Partner			$ 59,729
Payable to General Partner			$ 392	$ 1,416
TPG Finance Corp [Member]
Partnership interests			200	200

Transactions with General Par32

Transactions with General Partner and its Affiliates - Schedule of Amounts Paid and/or Accrued to General Partner and its Affiliates (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Related Party Transactions [Abstract]
Management fees	$ 66,825	$ 66,744	$ 138,983	$ 132,778
Overhead allowance	5,391	5,385	10,778	10,712
Other outsourced administrative fees	0	300	0	788
Reimbursement for out-of-pocket expenses	0	0	2,500	2,500
Cash distribution due to partner	392	509	512	535
Total general partner expense	$ 72,608	$ 72,938	$ 147,386	$ 147,313

Transactions with General Par33

Transactions with General Partner and its Affiliates - Schedule of Beneficial Ownership of Partnership's Principal Executive Officer (Details) - Limited Partner [Member]	6 Months Ended
	Jun. 30, 2016shares
Name of Beneficial Owner	Bruce A. Provo	[1]
Amount and Nature of Beneficial Ownership	200	[2]
Percentage of Class Outstanding	0.43%	[3]
[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]	Based on 46,280.3 limited partnership interests outstanding as of June 30, 2016.

Transactions with General Par34

Transactions with General Partner and its Affiliates - Schedule of Beneficial Ownership of Partnership's Principal Executive Officer (Details) (Parenthetical) - shares	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Limited Partnership Interests outstanding	46,280.3	46,280.3	46,280.3
Limited Partner [Member]
Limited Partnership Interests outstanding	46,280.3

Transactions with Owners with35

Transactions with Owners with Greater than Ten Percent Beneficial Interests (Details Narrative) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Jesse Small [Member]
Advisory Board Fees paid

Transactions with Owners with36

Transactions with Owners with Greater than Ten Percent Beneficial Interests - Schedule of Advisory Board Fees Paid to Jesse Small (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Jesse Small [Member]
Advisory Board Fees paid	$ 875	$ 875	$ 1,750	$ 1,750

Contingent Liabilities (Details

Contingent Liabilities (Details Narrative)	6 Months Ended
	Jun. 30, 2016USD ($)Property
Commitments and Contingencies Disclosure [Abstract]
Maximum percentage of disposition fees on sale of partnership properties	3.00%
Number of partnership properties for sale | Property	3
Percentage of disposition fees to be escrowed	50.00%
Amount of recovery of funds	$ 4,500,000
Aggregate of recovery of funds value	6,000,000
Payable fee on achieving recovery level	$ 16,296

PMA Indemnification Trust (Deta

PMA Indemnification Trust (Details Narrative)	6 Months Ended
	Jun. 30, 2016USD ($)
Banking and Thrift [Abstract]
Reserve related to partnership assets	$ 250,000
Earnings credited to the trust	$ 203,687

Note Receivable (Details Narrat

Note Receivable (Details Narrative) - USD ($)	Nov. 01, 2014	Nov. 01, 2012	Dec. 01, 2009	Nov. 12, 2009	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Jan. 02, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property sale price				$ 450,000
Escrow property taxes					$ 9,481		$ 3,931
Amortized principal payments receivable					26,450		$ 57,157
Buyer's Note amortization schedule, monthly payments					5,386
Note receivable, principal payment received					30,707	$ 28,565
Cash [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property sale price				150,000
Promissory Note ("Buyers Note") [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Promissory note term							3 years
Partnership [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Note receivable, principal payment received					30,707
Interest payments					$ 1,611
Promissory Note ("Buyers Note") [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property sale price				$ 300,000
Buyer's Note, interest rate		7.25%	7.25%
Buyer's Note, principal amortized period		5 years	10 years
Original balloon payment due date		Nov. 1, 2014	Nov. 1, 2012
Escrow property taxes								$ 925
Partnership amended the Buyers note amount, principal		$ 200,000
Principal payments	$ 13,396	32,777
Buyers note amount		$ 232,777
Amortized principal payments receivable	$ 120,000
Promissory note term extension	2 years
Loan maturity period	Oct. 31, 2016

Fair Value Disclosures (Details

Fair Value Disclosures (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Recognition of transfers between levels of the fair value hierarchy

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member]	Jul. 08, 2016
Lease expiration date	Oct. 31, 2018
Percentage of rent increase each year	2.00%