SB Partners 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2020shares
Document Information [Line Items]
Entity Registrant Name	SB PARTNERS
Entity Central Index Key	0000087047
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)	0
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Assets:
Land	$ 470,000	$ 470,000
Buildings, furnishings and improvements	5,671,101	5,671,101
Less - accumulated depreciation	(2,518,832)	(2,395,451)
Real Estate Investment Property, Net, Total	3,622,269	3,745,650
Investment in Sentinel Omaha, LLC, net of reserve for fair value of $10,466,941 and $10,395,545 at September 30, 2020 and December 31, 2019, respectively	41,867,738	41,582,157
Investments, Total	45,490,007	45,327,807
Other Assets -
Cash and cash equivalents	611,961	987,624
Other	42,833	8,743
Total assets	46,144,801	46,324,174
Liabilities:
Accounts payable	145,150	177,596
Tenant security deposit	108,409	107,010
Total liabilities	253,559	284,606
Partners' Equity (Deficit):
Limited partner - 7,753 units	45,903,759	46,052,066
General partner - 1 unit	(12,517)	(12,498)
Total partners' equity	45,891,242	46,039,568
Total liabilities and partners' equity	$ 46,144,801	$ 46,324,174

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Investment in Sentinel Omaha, LLC, reserve for fair value	$ 10,446,941	$ 10,395,545
Limited partner - units (in shares)	7,753	7,753
General partner - units (in shares)	1	1

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Rental income	$ 293,365	$ 278,317	$ 880,095	$ 834,951
Interest income	164	1,452	2,099	2,167
Total revenues	293,529	279,769	882,194	837,118
Expenses:
Real estate operating expenses	90,653	73,742	230,908	225,393
Depreciation	41,127	35,875	123,381	107,625
Real estate taxes	35,393	32,873	106,179	97,597
Management fees	255,246	252,343	763,950	755,343
Other	30,844	26,621	91,683	88,145
Total expenses	453,263	421,454	1,316,101	1,274,103
Loss from operations	(159,734)	(141,685)	(433,907)	(436,985)
Equity in net income of investment	315,222	1,439,584	356,977	2,644,419
(Increase) Decrease in reserve for value of investment	(63,045)	(287,916)	(71,396)	1,151,113
Net income (loss)	92,443	1,009,983	(148,326)	3,358,547
Income (loss) allocated to general partner	12	130	(19)	433
Income (loss) allocated to limited partners	$ 92,431	$ 1,009,853	$ (148,307)	$ 3,358,114
Income (loss) per unit of limited partnership interest (basic and diluted)
Net income (loss) (in dollars per share)	$ 11.92	$ 130.27	$ (19.13)	$ 433.19
Weighted Average Number of Units of Limited Partnership Interest Outstanding (in shares)	7,753	7,753	7,753	7,753

Consolidated Statements of Chan

Consolidated Statements of Changes in Partners' Equity (Deficit) (Unaudited) - USD ($)	Limited Partner [Member]Units of Partnership [Member]	Limited Partner [Member]Cumulative Cash Distributions [Member]	Limited Partner [Member]Retained Earnings [Member]	Limited Partner [Member]	General Partner [Member]Units of Partnership [Member]	General Partner [Member]Cumulative Cash Distributions [Member]	General Partner [Member]Retained Earnings [Member]	General Partner [Member]	Total
Balance (in shares)	7,753				1
Balance (in shares) at Dec. 31, 2018	7,753				1
Balance at Dec. 31, 2018	$ 119,968,973	$ (111,721,586)	$ 34,336,816	$ 42,584,203	$ 10,000	$ (26,364)	$ 3,419	$ (12,945)
Net income (loss)			189,395	189,395			24	24
Balance (in shares)	7,753				1
Balance (in shares) at Mar. 31, 2019	7,753				1
Balance at Mar. 31, 2019	$ 119,968,973	(111,721,586)	34,526,211	42,773,598	$ 10,000	(26,364)	3,443	(12,921)
Balance (in shares) at Dec. 31, 2018	7,753				1
Balance at Dec. 31, 2018	$ 119,968,973	(111,721,586)	34,336,816	42,584,203	$ 10,000	(26,364)	3,419	(12,945)
Net income (loss)									$ 3,358,547
Balance (in shares)	7,753				1
Balance (in shares) at Sep. 30, 2019	7,753				1
Balance at Sep. 30, 2019	$ 119,968,973	(114,822,586)	37,694,930	42,841,317	$ 10,000	(26,764)	3,852	(12,912)
Balance (in shares)	7,753				1
Balance (in shares) at Mar. 31, 2019	7,753				1
Balance at Mar. 31, 2019	$ 119,968,973	(111,721,586)	34,526,211	42,773,598	$ 10,000	(26,364)	3,443	(12,921)
Net income (loss)			2,158,866	2,158,866			279	279
Distribution paid		(3,101,000)		(3,101,000)		(400)		(400)
Balance (in shares)	7,753				1
Balance (in shares) at Jun. 30, 2019	7,753				1
Balance at Jun. 30, 2019	$ 119,968,973	(114,822,586)	36,685,077	41,831,464	$ 10,000	(26,764)	3,722	(13,042)
Balance (in shares)	7,753				1
Net income (loss)			1,009,853	1,009,853			130	130	1,009,983
Balance (in shares)	7,753				1
Balance (in shares) at Sep. 30, 2019	7,753				1
Balance at Sep. 30, 2019	$ 119,968,973	(114,822,586)	37,694,930	42,841,317	$ 10,000	(26,764)	3,852	(12,912)
Balance (in shares)	7,753				1
Balance (in shares)	7,753				1
Balance (in shares) at Dec. 31, 2019	7,753				1
Balance at Dec. 31, 2019	$ 119,968,973	(114,822,586)	40,905,679	46,052,066	$ 10,000	(26,764)	4,266	(12,498)	46,039,568
Net income (loss)			250,327	250,327			32	32
Balance (in shares)	7,753				1
Balance (in shares) at Mar. 31, 2020					1
Balance at Mar. 31, 2020	$ 119,968,973	(114,822,586)	41,156,006	46,302,393	$ 10,000	(26,764)	4,298	(12,466)
Balance (in shares) at Dec. 31, 2019	7,753				1
Balance at Dec. 31, 2019	$ 119,968,973	(114,822,586)	40,905,679	46,052,066	$ 10,000	(26,764)	4,266	(12,498)	46,039,568
Net income (loss)									(148,326)
Balance (in shares)	7,753				1
Balance (in shares) at Sep. 30, 2020	7,753				1
Balance at Sep. 30, 2020	$ 119,968,973	(114,822,586)	40,757,372	45,903,759	$ 10,000	(26,764)	4,247	(12,517)	45,891,242
Balance (in shares)					1
Balance (in shares) at Mar. 31, 2020					1
Balance at Mar. 31, 2020	119,968,973	(114,822,586)	41,156,006	46,302,393	$ 10,000	(26,764)	4,298	(12,466)
Net income (loss)			(491,065)	(491,065)			(63)	(63)
Balance (in shares)	7,753				1
Balance (in shares) at Jun. 30, 2020	7,753				1
Balance at Jun. 30, 2020	$ 119,968,973	(114,822,586)	40,664,941	45,811,328	$ 10,000	(26,764)	4,235	(12,529)
Balance (in shares)	7,753				1
Net income (loss)			92,431	92,431			12	12	92,443
Balance (in shares)	7,753				1
Balance (in shares) at Sep. 30, 2020	7,753				1
Balance at Sep. 30, 2020	$ 119,968,973	$ (114,822,586)	$ 40,757,372	$ 45,903,759	$ 10,000	$ (26,764)	$ 4,247	$ (12,517)	$ 45,891,242
Balance (in shares)	7,753				1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash Flows From Operating Activities:
Net income (loss)	$ 92,443	$ 1,009,983	$ (148,326)	$ 3,358,547
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in net (income) of investment	(315,222)	(1,439,584)	(356,977)	(2,644,419)
Decrease (increase) in reserve for value of investment	63,045	287,916	71,396	(1,151,113)
Depreciation and amortization			123,381	107,625
Net (increase) in operating assets			(34,090)	(31,019)
Net (decrease) in accounts payable			(32,446)	(429,488)
Net increase in tenant security deposit			1,399	1,399
Net (decrease) in accrued expenses				(3,395,973)
Distributions from investment in Sentinel Omaha, LLC				8,400,000
Net cash provided by (used in) operating activites			(375,663)	4,215,559
Cash Flows From Investing Activities:
Capital additions to real estate owned				(398,692)
Net cash used in investing activities				(398,692)
Cash Flows From Financing Activities:
Distributions paid to partners				(3,101,400)
Net cash used in financing activities				(3,101,400)
Net change in cash and cash equivalents			(375,663)	715,467
Cash and cash equivalents at beginning of period			987,624	338,239	$ 338,239
Cash and cash equivalents at end of period	$ 611,961	$ 1,053,706	$ 611,961	$ 1,053,706	$ 987,624

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	( 1 SB Partners, a New York limited partnership, and its subsidiaries (collectively, the "Partnership" or the “Registrant”), have been engaged since April 1971 The consolidated financial statements included herein are unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to a fair presentation of the financial position, results of operations and cash flows for the interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not 10 The results of operations for the nine September 30, 2020 not For a discussion of the significant accounting and financial reporting policies of the Partnership, refer to the Annual Report on Form 10–K December 31, 2019.

Note 2 - COVID-19

Note 2 - COVID-19	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	( 2 COVID- 19 Due to the COVID- 19 may may no not September 30, 2020.

Note 3 - Common Area Maintenanc

Note 3 - Common Area Maintenance Reimbursements	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 3 COMMON AREA MAINTENANCE REIMBURSEMENTS In connection with the adoption of ASC Topic 842, 842, 606, Revenue from Contracts with Customers not The following table provides a disaggregation of rental income recognized by the Partnership for the three nine September 30, 2020 2019: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease income: Fixed lease income (Base Rent) $ 201,401 $ 189,785 $ 604,203 $ 569,355 Variable lease income (Recoverable Costs) 91,964 88,532 275,892 265,596 Total Rental Income $ 293,365 $ 278,317 $ 880,095 $ 834,951

Note 4 - Investments in Real Es

Note 4 - Investments in Real Estate	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Real Estate Disclosure [Text Block]	( 4 INVESTMENTS IN REAL ESTATE As of September 30, 2020, September 30, 2020 December 31, 2019. No. of Year of Real Estate at Cost Type Prop. Acquisition Description 9/30/2020 12/31/2019 Industrial flex property 1 2002 60,345 sf $ 6,141,101 $ 6,141,101 Less: Accumulated depreciation (2,518,832 ) (2,395,451 ) Investment in real estate $ 3,622,269 $ 3,745,650 The Partnership's wholly owned property located in Maple Grove, Minnesota is 100% October 31, 2024. 3%

Note 5 - Assets Measured at Fai

Note 5 - Assets Measured at Fair Value	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	( 5 The accounting guidance for Fair Value Measurements establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in determining fair value. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value is calculated based on the assumptions that market participants would use in pricing the asset or liability, not The three ● Level 1 ● Level 2 ● Level 3 The following major categories of assets were measured at fair value as of September 30, 2020 December 31, 2019: Level 3: September 30, Significant 2020 Unobservable (Unaudited) Inputs Total Assets Investment in Sentinel Omaha, LLC ("Omaha") $ 52,334,679 $ 52,334,679 Reserve for fair value of investment (10,466,941 ) (10,466,941 ) Total assets $ 41,867,738 $ 41,867,738 Level 3: December 31, Significant 2019 Unobservable (Audited) Inputs Total Assets Investment in Sentinel Omaha, LLC $ 51,977,702 $ 51,977,702 Reserve for fair value of investment (10,395,545 ) (10,395,545 ) Total assets $ 41,582,157 $ 41,582,157 The following is a reconciliation of the beginning and ending balances for assets measured at fair value using significant unobservable inputs (Level 3 September 30, 2020 December 31, 2019: Investment in Reserve for Sentinel fair value Omaha, LLC of investment Total Balance at January 1, 2019 $ 53,548,614 $ (10,709,724 ) $ 42,838,890 Equity in net income of investment 6,829,088 - 6,829,088 Distribution from investment (8,400,000 ) - (8,400,000 ) Decrease in reserve - 314,179 314,179 Balance at December 31, 2019 51,977,702 (10,395,545 ) 41,582,157 Equity in net income of investment 356,977 - 356,977 (Increase) in reserve - (71,396 ) (71,396 ) Balance at September 30, 2020 $ 52,334,679 $ (10,466,941 ) $ 41,867,738

Note 6 - Investment in Sentinel

Note 6 - Investment in Sentinel Omaha, LLC	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	( 6 In 2007, $37,200,000 September 30, 2020 six three 30% The following are the condensed financial statements ( 000's September 30, 2020 December 31, 2019 nine September 30, 2020 2019. (Unaudited) (Audited) Balance Sheet September 30, 2020 December 31, 2019 Investment in real estate, net $ 225,500 $ 230,900 Other assets 25,127 19,825 Debt (73,498 ) (73,892 ) Other liabilities (2,680 ) (3,574 ) Members equity $ 174,449 $ 173,259 (Unaudited) (Unaudited) Statement of Operations September 30, 2020 September 30, 2019 Rent and other income $ 18,274 $ 20,333 Real estate operating expenses (8,724 ) (9,898 ) Other expenses (1,109 ) (2,726 ) Net realized gains 0 13,635 Net unrealized (losses) (7,251 ) (12,528 ) Net increase in net assets $ 1,190 $ 8,816 During 2019, first 2019, two $8,400,000 The Omaha portfolio reported a loss of value on its real estate investments of approximately $5,400,000 2.24% nine September 30, 2020. 19

Note 3 - Common Area Maintena_2

Note 3 - Common Area Maintenance Reimbursements (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease income: Fixed lease income (Base Rent) $ 201,401 $ 189,785 $ 604,203 $ 569,355 Variable lease income (Recoverable Costs) 91,964 88,532 275,892 265,596 Total Rental Income $ 293,365 $ 278,317 $ 880,095 $ 834,951

Note 4 - Investments in Real _2

Note 4 - Investments in Real Estate (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	No. of Year of Real Estate at Cost Type Prop. Acquisition Description 9/30/2020 12/31/2019 Industrial flex property 1 2002 60,345 sf $ 6,141,101 $ 6,141,101 Less: Accumulated depreciation (2,518,832 ) (2,395,451 ) Investment in real estate $ 3,622,269 $ 3,745,650

Note 5 - Assets Measured at F_2

Note 5 - Assets Measured at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	Level 3: September 30, Significant 2020 Unobservable (Unaudited) Inputs Total Assets Investment in Sentinel Omaha, LLC ("Omaha") $ 52,334,679 $ 52,334,679 Reserve for fair value of investment (10,466,941 ) (10,466,941 ) Total assets $ 41,867,738 $ 41,867,738 Level 3: December 31, Significant 2019 Unobservable (Audited) Inputs Total Assets Investment in Sentinel Omaha, LLC $ 51,977,702 $ 51,977,702 Reserve for fair value of investment (10,395,545 ) (10,395,545 ) Total assets $ 41,582,157 $ 41,582,157
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Investment in Reserve for Sentinel fair value Omaha, LLC of investment Total Balance at January 1, 2019 $ 53,548,614 $ (10,709,724 ) $ 42,838,890 Equity in net income of investment 6,829,088 - 6,829,088 Distribution from investment (8,400,000 ) - (8,400,000 ) Decrease in reserve - 314,179 314,179 Balance at December 31, 2019 51,977,702 (10,395,545 ) 41,582,157 Equity in net income of investment 356,977 - 356,977 (Increase) in reserve - (71,396 ) (71,396 ) Balance at September 30, 2020 $ 52,334,679 $ (10,466,941 ) $ 41,867,738

Note 6 - Investment in Sentin_2

Note 6 - Investment in Sentinel Omaha, LLC (Tables)	9 Months Ended
	Sep. 30, 2020
Statement of Operations [Member]
Notes Tables
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	(Unaudited) (Unaudited) Statement of Operations September 30, 2020 September 30, 2019 Rent and other income $ 18,274 $ 20,333 Real estate operating expenses (8,724 ) (9,898 ) Other expenses (1,109 ) (2,726 ) Net realized gains 0 13,635 Net unrealized (losses) (7,251 ) (12,528 ) Net increase in net assets $ 1,190 $ 8,816
Balance Sheet [Member]
Notes Tables
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	(Unaudited) (Audited) Balance Sheet September 30, 2020 December 31, 2019 Investment in real estate, net $ 225,500 $ 230,900 Other assets 25,127 19,825 Debt (73,498 ) (73,892 ) Other liabilities (2,680 ) (3,574 ) Members equity $ 174,449 $ 173,259

Note 3 - Common Area Maintena_3

Note 3 - Common Area Maintenance Reimbursements - Disaggregation of Rental Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Rental income	$ 293,365	$ 278,317	$ 880,095	$ 834,951
Fixed Lease Income Base Rent [Member]
Rental income	201,401	189,785	604,203	569,355
Variable Lease Income [Member]
Rental income	$ 91,964	$ 88,532	$ 275,892	$ 265,596

Note 4 - Investments in Real _3

Note 4 - Investments in Real Estate (Details Textual)	Sep. 30, 2020
Rent Increase, Yearly, Percentage	3.00%

Note 4 - Investments in Real _4

Note 4 - Investments in Real Estate - Summary of Investments in Real Estate (Details)	9 Months Ended
	Sep. 30, 2020USD ($)	Jun. 30, 2020ft²	Dec. 31, 2019USD ($)
Less: Accumulated depreciation	$ (2,518,832)		$ (2,395,451)
Investment in real estate	$ 3,622,269		3,745,650
Industrial Flex Property [Member]
No. of Prop.	1
Year of Acquisition	2002
Description (Square Foot) | ft²		60,345
Investment in real estate, at cost	$ 6,141,101		6,141,101
Less: Accumulated depreciation	(2,518,832)		(2,395,451)
Investment in real estate	$ 3,622,269		$ 3,745,650

Note 5 - Assets Measured at F_3

Note 5 - Assets Measured at Fair Value - Fair Value Measurement of Assets (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Reserve for fair value of investment	$ (10,446,941)	$ (10,395,545)
Total assets	41,867,738	41,582,157
Sentinel Omaha LLC [Member]
Investment in Sentinel Omaha, LLC ("Omaha")	52,334,679	51,977,702
Reserve for fair value of investment	(10,466,941)	(10,395,545)
Total assets	41,867,738	41,582,157
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member]
Investment in Sentinel Omaha, LLC ("Omaha")	52,334,679	51,977,702	$ 53,548,614
Reserve for fair value of investment	(10,466,941)	(10,395,545)
Total assets	$ 41,867,738	$ 41,582,157	$ 42,838,890

Note 5 - Assets Measured at F_4

Note 5 - Assets Measured at Fair Value - Reconciliation of Assets Measured at Fair Value (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Balance			$ 41,582,157
Equity in net income of investment	$ 315,222	$ 1,439,584	356,977	$ 2,644,419
Distribution from investment				(8,400,000)
Decrease (increase) in reserve for value of investment	63,045	$ 287,916	71,396	(1,151,113)
Balance	41,867,738		41,867,738		$ 41,582,157
Sentinel Omaha LLC [Member]
Balance, Investment in Sentinel Omaha, LLC			51,977,702
Balance			41,582,157
Distribution from investment					(8,400,000)
Balance, Investment in Sentinel Omaha, LLC	52,334,679		52,334,679		51,977,702
Balance	41,867,738		41,867,738		41,582,157
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member]
Balance, Investment in Sentinel Omaha, LLC			51,977,702	53,548,614	53,548,614
Balance, Reserve for fair value of investment			(10,395,545)	(10,709,724)	(10,709,724)
Balance			41,582,157	$ 42,838,890	42,838,890
Equity in net income of investment			356,977		6,829,088
Distribution from investment					(8,400,000)
Decrease (increase) in reserve for value of investment
Decrease in reserve			(71,396)		314,179
Balance, Investment in Sentinel Omaha, LLC	52,334,679		52,334,679		51,977,702
Balance, Reserve for fair value of investment	(10,466,941)		(10,466,941)		(10,395,545)
Balance	$ 41,867,738		$ 41,867,738		$ 41,582,157

Note 6 - Investment in Sentin_3

Note 6 - Investment in Sentinel Omaha, LLC (Details Textual)	9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2007USD ($)
Proceeds from Equity Method Investment, Distribution		$ 8,400,000
Sentinel Omaha LLC [Member]
Investment in Real Estate, Increase (Decrease) in Value	$ (5,400,000)
Investment in Real Estate, Percentage Increase (Decrease) in Value	(2.24%)
Sentinel Omaha LLC [Member]
Investment Owned, at Cost				$ 37,200,000
Number of Multifamily Properties	6
Number of Markets	3
Equity Method Investment, Ownership Percentage	30.00%
Proceeds from Equity Method Investment, Distribution			$ 8,400,000

Note 6 - Investment in Sentin_4

Note 6 - Investment in Sentinel Omaha, LLC - Balance Sheet (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Other assets	$ 42,833	$ 8,743
Sentinel Omaha LLC [Member]
Investment in real estate, net	225,500,000	230,900,000
Other assets	25,127,000	19,825,000
Debt	(73,498,000)	(73,892,000)
Other liabilities	(2,680,000)	(3,574,000)
Members equity	$ 174,449,000	$ 173,259,000

Note 6 - Investment in Sentin_5

Note 6 - Investment in Sentinel Omaha, LLC - Statement of Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Rent and other income	$ 293,529	$ 279,769	$ 882,194	$ 837,118
Real estate operating expenses	(90,653)	(73,742)	(230,908)	(225,393)
Other expenses	(30,844)	(26,621)	(91,683)	(88,145)
Net increase in net assets	$ 92,443	$ 1,009,983	(148,326)	3,358,547
Sentinel Omaha LLC [Member]
Rent and other income			18,274,000	20,333,000
Real estate operating expenses			(8,724,000)	(9,898,000)
Other expenses			(1,109,000)	(2,726,000)
Net realized gains			0	13,635,000
Net unrealized (losses)			(7,251,000)	(12,528,000)
Net increase in net assets			$ 1,190,000	$ 8,816,000