Income Opportunity Realty Investors (IOR) 10-K 29 Mar 21 2020 FY Annual report Financial data

Cover

Cover - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Mar. 26, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	INCOME OPPORTUNITY REALTY INVESTORS INC /TX/
Entity Central Index Key	0000949961
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity File Number	001-14784
Entity Incorporation, State or Country Code	NV
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,168,414
Entity Public Float			$ 7,531,229
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 12	$ 5
Receivable and accrued interest from related parties	90,526	86,221
Total current assets	90,538	86,226
Non current assets
Notes and interest receivable from related parties	13,930	14,030
Total non current assets	13,930	14,030
Total assets	104,468	100,256
Liabilities
Accounts payable	12	14
Total liabilities	12	14
Shareholders' equity
Common stock, $0.01 par value, authorized 10,000,000 shares; issued 4,173,675 and outstanding 4,168,414 shares in 2020 and 2019	42	42
Treasury stock at cost, 5,261 shares in 2020 and 2019	(39)	(39)
Paid-in capital	61,955	61,955
Retained Earnings	42,498	38,284
Total shareholders' equity	104,456	100,242
Total liabilities and shareholders' equity	$ 104,468	$ 100,256

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	10,000,000	10,000,000
Common stock, issued	4,173,675	4,173,675
Common stock, outstanding	4,168,414	4,168,414
Treasury stock	5,261	5,261

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Revenue from operations
Expenses:
General and administrative (including $247, $260, and $284 for the year ended 2020, 2019, and 2018 respectively, to related parties)	450	$ 494	$ 494
Net income fee to related party	371	357	631
Advisory fee to related party	768	737	685
Total operating expenses	1,589	1,588	1,810
Net operating loss	(1,589)	(1,588)	(1,810)
Other income / expenses:
Interest income from related parties	5,373	6,574	4,880
Other Income	1,550	237
Total other income	6,923	6,811	4,880
Income before gain on sale of real estate land	5,334	5,223	3,070
Gain on sale of real estate land			7,323
Income before taxes	5,334	5,223	10,393
Income tax expense - current	1,120	1,078	1,391
Income tax expense - deferred			792
Net income	$ 4,214	$ 4,145	$ 8,210
Earnings per share - basic and diluted
Net income (in dollars per share)	$ 1.01	$ 0.99	$ 1.97
Weighted average common shares used in computing earnings per share (in shares)	4,168,414	4,168,414	4,168,214

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
General and administrative, related parties	$ 247	$ 260	$ 284

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Dec. 31, 2017	$ 42	$ (39)	$ 61,955	$ 25,929	$ 87,887
Beginning balance (in shares) at Dec. 31, 2017	4,173,675
Increase (Decrease) in Stockholders' Equity
Net income				8,210	8,210
Ending balance at Dec. 31, 2018	$ 42	(39)	61,955	34,139	96,097
Ending balance (in shares) at Dec. 31, 2018	4,173,675
Increase (Decrease) in Stockholders' Equity
Net income				4,145	4,145
Ending balance at Dec. 31, 2019	$ 42	(39)	61,955	38,284	$ 100,242
Ending balance (in shares) at Dec. 31, 2019	4,173,675				4,173,675
Increase (Decrease) in Stockholders' Equity
Net income				4,214	$ 4,214
Ending balance at Dec. 31, 2020	$ 42	$ (39)	$ 61,955	$ 42,498	$ 104,456
Ending balance (in shares) at Dec. 31, 2020	4,173,675				4,173,675

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flow From Operating Activities:
Net income	$ 4,214	$ 4,145	$ 8,210
Adjustments to reconcile net income applicable to common shares to net cash provided by operating activities:
Gain on sale of real estate land			(7,323)
(Increase) decrease in assets:
Accrued interest receivable from related parties	100
Other assets			725
Increase (decrease) in other liabilities	(2)	(12)	16
Net cash provided by operating activities	4,312	4,133	1,628
Cash Flow From Investing Activities:
Related Party Receivables	(4,305)	(4,132)
Transfer to related party			(24,176)
Proceeds from sale of real estate land			22,550
Net cash used in investing activities	(4,305)	(4,132)	(1,626)
Net (decrease) increase in cash and cash equivalents	7	1	2
Cash and cash equivalents, beginning of period	5	4	2
Cash and cash equivalents, end of period	$ 12	$ 5	4
Other Non Cash Items:
Non cash transfer of land to related party			(7,490)
Utilization of deferred tax asset			$ (792)

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation. Organization and business. Transcontinental Realty Investors, Inc. “TCI” owns approximately 81.1% of the Company’s common stock. Accordingly, IOR’s financial results are consolidated with those of TCI and its subsidiaries. IOR is a “C” corporation for U.S. federal income tax purposes and is included in the annual consolidated income tax return with TCI’s parent American Realty Investors, Inc. “ARL” and its ultimate parent, May Realty Holdings, Inc. TCI has no employees. Pillar Income Asset Management, Inc. (“Pillar”) is the Company’s external Advisor and Cash Manager. Our day to day operations are managed and performed by Pillar, in accordance with an Advisory Agreement that is reviewed annually by our Board of Directors. All of the Company’s employees are Pillar employees. Employees of Pillar render services to us in accordance with the terms of the Advisory Agreement. As the contractual advisor, Pillar is compensated by us under an Advisory Agreement that is more fully described in Part III, Item 10, “Directors, Executive Officers and Corporate Governance – The Advisor”. Pillar also serves as an Advisor and Cash Manager to TCI and ARL. Basis of presentation. Fair value measurement. Fair Value Measurements and Disclosures The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date and includes three levels defined as follows: Level 1 — Unadjusted quoted prices for identical and unrestricted assets or liabilities in active markets. Level 2 — Quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 — Unobservable inputs that are significant to the fair value measurement. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Management reviews the carrying values of our notes receivable at least annually and whenever events or a change in circumstances indicates that impairment may exist. For notes receivable, impairment is considered to exist if it is probable that all amounts due under the terms of the note will not be collected. The note receivable review includes an evaluation of the collateral property securing such note. If impairment is found to exist, a provision for loss is recorded by a charge against earnings. The property review generally includes: (1) selective property inspections; (2) a review of the property’s current rents compared to market rents; (3) a review of the property’s expenses; (4) a review of maintenance requirements; (5) a review of the property’s cash flow; (6) discussions with the manager of the property; and (7) a review of properties in the surrounding area. Related parties Related Party Disclosures Recognition of revenue. Non-performing notes receivable. Interest recognition on notes receivable. Allowance for estimated losses. Notes and Interest Receivable from Related Parties Cash equivalents. Earnings per share. Earnings per Share Use of estimates. Income Taxes. Recent Accounting Pronouncements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.

REAL ESTATE

REAL ESTATE	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
REAL ESTATE	NOTE 2. REAL ESTATE In 2018, the criteria for full accrual accounting was met, and approximately $22.5 million of sales proceeds were recognized under the contract. Sales to unrelated third parties, by the Developer, of real estate carried at cost of $15.1 million, resulted in a gain on sale of $7.3 million to the Company. The unsold balance of land, subject to the original sales contract, was deeded to TCI on August 22, 2018 by the buyer. In connection with the transfer of legal title to TCI by the buyer, the Company transferred its remaining real estate to TCI for its book value of $7.5 million. As of December 31, 2018, the Company had no real estate holdings.

NOTES AND INTEREST RECEIVABLE F

NOTES AND INTEREST RECEIVABLE FROM RELATED PARTIES	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
NOTES AND INTEREST RECEIVABLE FROM RELATED PARTIES	NOTE 3. NOTES AND INTEREST RECEIVABLE FROM RELATED PARTIES Notes and interest receivable from related parties is comprised of junior mortgage loans, which are loans secured by mortgages that are subordinate to one or more prior liens on the underlying real estate. Recourse on the loans ordinarily includes the real estate which secures the loan, other collateral and personal guarantees of the borrower. The Company has various notes receivable from Unified Housing foundation, Inc. “UHF”. UHF is determined to be a related party due to our significant investment in the performance of the collateral secured under the notes receivable. Payments are due from surplus cash flow from operations, sale or refinancing of the underlying properties. These notes are cross collateralized to the extent that any surplus cash available from any of the properties underlying these notes will be used to repay outstanding interest and principal for the remaining notes. Furthermore, any surplus cash available from any of the properties UHF owns, besides the properties underlying these notes, can be used to repay outstanding interest and principal for these notes. The allowance on the notes was a purchase allowance that was netted against the notes when acquired. All of the Company’s notes receivable are with UHF. The notes mature in December 2032 and have interest rates of 12.0%. During 2020, the Company collected $808 thousand on a fully reserved note receivable and the full amount of the collection is included in other income. In February 2021, the Company collected the remaining balance due of $1.1 million which is the remaining balance of the fully reserved note receivable. In addition, in February 2021, the Company collected $1.9 million of principal and $.6 million of accrued interest on the UHF notes receivable listed below. These funds were transferred to the IOR parent (TCI) under company policy. At December 31, 2020 and 2019, we had mortgage loans and accrued interest receivable from related parties, net of allowances, totaling $13.9 million. As of December 31, 2020 and 2019, we recognized interest income of $1.8 million each year, related to these notes receivable. Below is a summary of notes and interest receivable from related parties (dollars in thousands): Maturity Interest Borrower Date Rate Amount Collateral Performing loans: Unified Housing Foundation, Inc. (Echo Station) 12/32 12.00 % $ 1,481 Secured Unified Housing Foundation, Inc. (Lakeshore Villas) 12/32 12.00 % 2,000 Secured Unified Housing Foundation, Inc. (Lakeshore Villas) 12/32 12.00 % 6,369 Secured Unified Housing Foundation, Inc. (Limestone Ranch) 12/32 12.00 % 1,953 Secured Unified Housing Foundation, Inc. (Timbers of Terrell) 12/32 12.00 % 1,323 Secured Total Notes Receivable 13,126 Accrued interest 804 Total Performing $ 13,930 All are related party notes.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND FEES	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND FEES	NOTE 4. RELATED PARTY TRANSACTIONS AND FEES The Advisory agreement provides for Pillar or a related party of Pillar to receive fees and cost reimbursements as defined in Part III, Item 10. Directors, Executive Officers and Corporate Governance – The Advisor Years Ended December 31, Fees: 2020 2019 2018 Advisory $ 768 $ 737 $ 685 Net income 371 357 631 $ 1,139 $ 1,094 $ 1,316 Other Expense: Cost reimbursements $ 247 $ 260 $ 284 Revenue: Interest received $ 3,583 $ 4,780 $ 3,086 $ 3,583 $ 4,780 $ 3,086 As of December 31, 2020, IOR has notes and interest receivable of $13.9 million due from Unified Housing Foundation, Inc. and recognized interest income of $1.8 million related to these notes receivable. (See details in Part 2, Item 8, above, Note 3. Notes and Interest Receivable from Related Parties The following table reconciles the beginning and ending balances of amounts receivable from related parties as of December 31, 2020 and 2019 (dollars in thousands): TCI 2020 2019 Balance, January 1 $ 86,221 $ 82,089 Cash transfers 3,232 2,959 Advisory fees (768 ) (737 ) Net income fee (371 ) (357 ) Cost reimbursements (247 ) (260 ) Expenses paid by advisor (4 ) 85 TIF reallocation 0 (1,260 ) Interest income 3,583 4,780 Income tax (1,120 ) (1,078 ) Balance, December 31 $ 90,526 $ 86,221 IOR has a tax sharing and compensating agreement with respect to federal income taxes between ARL, TCI and IOR and their subsidiaries. The expense (benefit) in each year was calculated based on the amount of losses absorbed by taxable income multiplied by the maximum statutory tax rate of 21%. There were no payments under this agreement in 2020.

DIVIDENDS

DIVIDENDS	12 Months Ended
	Dec. 31, 2020
Dividends [Abstract]
DIVIDENDS	NOTE 5. DIVIDENDS IOR’s Board of Directors established a policy that dividend declarations on common stock would be determined on an annual basis following the end of each year. In accordance with that policy, no dividends on IOR’s common stock were declared in 2020, 2019, or 2018. Future distributions to common stockholders will be determined by the Board of Directors in light of conditions then existing, including the Company’s financial condition and requirements, future prospects, restrictions in financing agreements, business conditions and other factors deemed relevant by the Board.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 6. INCOME TAXES We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. For financial reporting purposes, income before income taxes were (dollars in thousands): Years Ended December 31, 2020 2019 2018 Income before income taxes $ 5,334 $ 5,223 $ 10,393 The expense for income taxes consists of (dollars in thousands): Years Ended December 31, 2020 2019 2018 Current: Federal $ 1,120 $ 1,078 $ 1,391 Deferred and Other: Federal — — 792 Total Tax Expense $ 1,120 $ 1,078 $ 2,183 The reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory rate is as follows (dollars in thousands): Years Ended December 31, 2020 2019 2018 Income Tax Expense at Federal Statutory Rate $ 1,120 $ 1,078 $ 2,183 Repricing of Deferred Assets Due to Change in Future Rates — — — Reported Income Tax Expense $ 1,120 $ 1,078 $ 2,183 Effective Tax Rate 21 % 21 % 21 % The company is subject to taxation in the United States and various states. As of December 31, 2020, the Company’s tax years for 2019, 2018, and 2017 are subject to examination by the tax authorities. With few exceptions, as of December 31, 2020, the Company is no longer subject to U.S federal, state, or local examinations by tax authorities for the years ended before 2016. Due to changes in Tax Law the Company's AMT tax credit became refundable in 2018. The Company received an $89.7 thousand payment in 2019, $44.9 thousand in 2020 and will receive $44.9 thousand in 2021. In accordance with the Company's tax sharing agreement the AMT receivable has been assigned to the Company's parent (TCI).

QUARTERLY DATA

QUARTERLY DATA	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY DATA	NOTE 7. QUARTERLY DATA The following is a table of quarterly results of operations for the years 2020, 2019 and 2018: Three Months Ended 2020 March 31, June 30, September 30, December 31, (dollars in thousands, except per share amounts) 2020 Revenue from operations $ — $ — $ — $ — Total operating expenses 414 431 339 405 Operating loss (414 ) (431 ) (339 ) (405 ) Other income, net of other expenses 1,479 2,032 1,302 2,110 Income before gain on land sales, non-contolling interest, and taxes 1,065 1,601 963 1,705 Income tax expense 224 336 202 358 Net income $ 841 $ 1,265 $ 761 $ 1,347 PER SHARE DATA Earnings per share - basic and diluted Net income applicable to common shares $ 0.20 $ 0.30 $ 0.18 $ 0.32 Weighted average common shares used in computing earnings per share 4,168,414 4,168,414 4,168,414 4,168,414 Three Months Ended 2019 March 31, June 30, September 30, December 31, (dollars in thousands, except per share amounts) 2019 Revenue from operations $ — $ — $ — $ — Total operating expenses 414 448 368 358 Operating loss (414 ) (448 ) (368 ) (358 ) Other income, net of other expenses 1,642 1,824 1,672 1,673 Income before gain on land sales, non-contolling interest, and taxes 1,228 1,376 1,304 1,315 Income tax expense 258 289 274 257 Net income (loss) $ 970 $ 1,087 $ 1,030 $ 1,058 PER SHARE DATA Earnings per share - basic and diluted Net income (loss) applicable to common shares $ 0.23 $ 0.26 $ 0.25 $ 0.25 Weighted average common shares used in computing earnings per share 4,168,214 4,168,214 4,168,214 4,168,414 Three Months Ended 2018 March 31, June 30, September 30, December 31, (dollars in thousands, except per share amounts) 2018 Revenue from operations $ — $ — $ — $ — Total operating expenses 340 374 634 462 Operating loss (340 ) (374 ) (634 ) (462 ) Other income, net of other expenses 1,042 1,081 1,201 1,556 Giain on sale of real estate land — — 7,323 — Income before gain on land sales, non-contolling interest, and taxes 702 707 7,890 1,094 Income tax expense — — 1,902 281 Net income (loss) $ 702 $ 707 $ 5,988 $ 813 PER SHARE DATA Earnings per share - basic and diluted Net income (loss) applicable to common shares $ 0.17 $ 0.17 $ 1.44 $ 0.19 Weighted average common shares used in computing earnings per share 4,168,214 4,168,214 4,168,214 4,168,214

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND LIQUIDITY	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND LIQUIDITY	NOTE 8. COMMITMENTS, CONTINGENCIES AND LIQUIDITY Litigation The Company and its subsidiaries, from time to time, have been involved in various items of litigation incidental to and in the ordinary course of its business and, in the opinion of management; the outcome of such litigation will not have a material adverse impact upon the Company’s financial condition, results of operations or liquidity. Berger Litigation On February 4, 2019, an individual claiming to be a stockholder holding 7,900 shares of Common Stock of Income Opportunity Realty Investors, Inc. (“IOR”) filed a Complaint in the United States District Court for the Northern District of Texas, Dallas Division, individually and allegedly derivatively on behalf of IOR, against Transcontinental Realty Investors, Inc. (“TCI”), American Realty Investors, Inc. (“ARL”), (TCI is a shareholder of IOR, ARL is a shareholder of TCI) Pillar Income Asset Management, Inc. (“Pillar”), ( collectively the “Companies”), certain officers and directors of the Companies (“Additional Parties”) and two other individuals. The Complaint filed alleges that the sale and/or exchange of certain tangible and intangible property between the Companies and IOR during the last ten years of business operations constitutes a breach of fiduciary duty by the one or more of Companies, the Additional Defendants and/or the directors of IOR. The case alleges other related claims. The Plaintiff seeks certification as a representative of IOR and all of its shareholders, unspecified damages, a return to IOR of various funds and an award of costs, expenses, disbursements (including Plaintiff’s attorneys’ fees) and prejudgment and post-judgment interest. The named Defendants intend to vigorously defend the action, deny all of the allegations of the Complaint, and believe the allegations to be wholly without any merit. The Defendants have filed motions to dismiss the case in its entirety in June 2019. On February 26, 2020, the Court denied IOR’s demand futility motion. The remaining Defendants’ motions were granted in part and denied in part in the first quarter of 2020. Discovery is ongoing. Liquidity Management anticipates that IOR will generate excess cash from operations in 2021 due to the interest collected from notes receivable. Management intends to reduce its cash invested with its Advisor to meet its cash requirements not funded through operations.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9. SUBSEQUENT EVENTS We are closely monitoring the impact of the COVID-19 pandemic on all aspects of our business and across our portfolio. While we did not experience significant disruptions during 2020 from the COVID-19 pandemic, we are unable to predict the impact the COVID-19 pandemic will have on its financial condition, results of operations and cash flows due to numerous uncertainties. The Company has evaluated subsequent events through March 29, 2021, the date the financial statements were available to be issued, and has determined that there are none to be reported.

SCHEDULE III REAL ESTATE

SCHEDULE III REAL ESTATE	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III REAL ESTATE	SCHEDULE III INCOME OPPORTUNITY REALTY INVESTORS, INC. Real Estate For the Years Ended December 31, 2020 2019 2018 (dollars in thousands) Reconciliation of Real Estate Balance at January 1 $ — $ — $ 22,717 Additions Acquisitions and improvements — — — Deductions Sale of real estate — — 22,717 Balance at December 31 $ — $ — $ — All land holdings were sold in 2018.

SCHEDULE IV MORTGAGE LOANS RECE

SCHEDULE IV MORTGAGE LOANS RECEIVABLE	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
SCHEDULE IV MORTGAGE LOANS RECEIVABLE	INCOME OPPORTUNITY REALTY INVESTORS, INC. Mortgage Loans Receivable December 31, 2020 Description Interest Rate Final Maturity Date Periodic Payment Term Prior Liens Face Amount of Mortgage Carrying Amount of Mortgage Principal Amount of Loans Subject to Delinquent Principal or Interest (dollars in thousands) Unified Housing Foundation, Inc. (Echo Station/UH of Temple, LLC) 12.00 % 12 /32 Excess cash flow 8,926 1,809 1,481 — 100% Interest in UH of Temple, LLC Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (31.5% of cash flow) 12.00 % 12 /32 Excess cash flow 27,037 8,836 6,369 — Interest in Unified Housing Foundation Inc. Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge, LLC) 12.00 % 12 /32 Excess cash flow 24,866 2,427 1,953 — 100% Interest in UH of Vista Ridge, LLC Unified Housing Foundation, Inc. (Timbers at the Park/UH of Terrell, LLC) 12.00 % 12 /32 Excess cash flow 13,900 1,702 1,323 — 100% Interest in UH of Terrell, LLC Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (68.5% of cash flow) 12.00 % 12 /32 Excess cash flow 27,037 2,189 2,000 — $ 13,126 Interest receivable 804 $ 13,930 INCOME OPPORTUNITY REALTY INVESTORS, INC. Mortgage Loan Receivables For the Years Ended December 31, 2020 2019 2018 (dollars in thousands) Balance at January 1, $ 14,030 $ 14,030 $ 14,030 Additions Increase of interest receivable on mortgage loans — — — Deductions Amounts received (100) — — Balance at December 31, $ 13,930 $ 14,030 $ 14,030

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation.
Fair value measurement	Fair value measurement. Fair Value Measurements and Disclosures The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date and includes three levels defined as follows: Level 1 — Unadjusted quoted prices for identical and unrestricted assets or liabilities in active markets. Level 2 — Quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 — Unobservable inputs that are significant to the fair value measurement. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Management reviews the carrying values of our notes receivable at least annually and whenever events or a change in circumstances indicates that impairment may exist. For notes receivable, impairment is considered to exist if it is probable that all amounts due under the terms of the note will not be collected. The note receivable review includes an evaluation of the collateral property securing such note. If impairment is found to exist, a provision for loss is recorded by a charge against earnings. The property review generally includes: (1) selective property inspections; (2) a review of the property’s current rents compared to market rents; (3) a review of the property’s expenses; (4) a review of maintenance requirements; (5) a review of the property’s cash flow; (6) discussions with the manager of the property; and (7) a review of properties in the surrounding area.
Related parties	Related parties Related Party Disclosures
Recognition of revenue	Recognition of revenue.
Non-performing notes receivable	Non-performing notes receivable.
Interest recognition on notes receivable	Interest recognition on notes receivable.
Allowance for estimated losses	Allowance for estimated losses. Notes and Interest Receivable from Related Parties
Cash equivalents	Cash equivalents.
Earnings per share	Earnings per share. Earnings per Share
Use of estimates	Use of estimates.
Income Taxes	Income Taxes.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.

NOTES AND INTEREST RECEIVABLE_2

NOTES AND INTEREST RECEIVABLE FROM RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of notes and interest receivable from related parties	Below is a summary of notes and interest receivable from related parties (dollars in thousands): Maturity Interest Borrower Date Rate Amount Collateral Performing loans: Unified Housing Foundation, Inc. (Echo Station) 12/32 12.00 % $ 1,481 Secured Unified Housing Foundation, Inc. (Lakeshore Villas) 12/32 12.00 % 2,000 Secured Unified Housing Foundation, Inc. (Lakeshore Villas) 12/32 12.00 % 6,369 Secured Unified Housing Foundation, Inc. (Limestone Ranch) 12/32 12.00 % 1,953 Secured Unified Housing Foundation, Inc. (Timbers of Terrell) 12/32 12.00 % 1,323 Secured Total Notes Receivable 13,126 Accrued interest 804 Total Performing $ 13,930

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND FEES (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of advisory fees and cost reimbursements	The advisory fees and cost reimbursements paid to Pillar, TCI and related parties are detailed below (dollars in thousands): Years Ended December 31, Fees: 2020 2019 2018 Advisory $ 768 $ 737 $ 685 Net income 371 357 631 $ 1,139 $ 1,094 $ 1,316 Other Expense: Cost reimbursements $ 247 $ 260 $ 284 Revenue: Interest received $ 3,583 $ 4,780 $ 3,086 $ 3,583 $ 4,780 $ 3,086
Schedule of reconciliation of accounts receivable from related parties	The following table reconciles the beginning and ending balances of amounts receivable from related parties as of December 31, 2020 and 2019 (dollars in thousands): TCI 2020 2019 Balance, January 1 $ 86,221 $ 82,089 Cash transfers 3,232 2,959 Advisory fees (768 ) (737 ) Net income fee (371 ) (357 ) Cost reimbursements (247 ) (260 ) Expenses paid by advisor (4 ) 85 TIF reallocation 0 (1,260 ) Interest income 3,583 4,780 Income tax (1,120 ) (1,078 ) Balance, December 31 $ 90,526 $ 86,221

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of income before income taxes	For financial reporting purposes, income before income taxes were (dollars in thousands): Years Ended December 31, 2020 2019 2018 Income before income taxes $ 5,334 $ 5,223 $ 10,393
Schedule of current income tax expense and expense for income taxes	The expense for income taxes consists of (dollars in thousands): Years Ended December 31, 2020 2019 2018 Current: Federal $ 1,120 $ 1,078 $ 1,391 Deferred and Other: Federal — — 792 Total Tax Expense $ 1,120 $ 1,078 $ 2,183
Schedule of the reconciliation between effective tax rate and the statutory rate	The reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory rate is as follows (dollars in thousands): Years Ended December 31, 2020 2019 2018 Income Tax Expense at Federal Statutory Rate $ 1,120 $ 1,078 $ 2,183 Repricing of Deferred Assets Due to Change in Future Rates — — — Reported Income Tax Expense $ 1,120 $ 1,078 $ 2,183 Effective Tax Rate 21 % 21 % 21 %

QUARTERLY DATA (Tables)

QUARTERLY DATA (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	The following is a table of quarterly results of operations for the years 2020, 2019 and 2018: Three Months Ended 2020 March 31, June 30, September 30, December 31, (dollars in thousands, except per share amounts) 2020 Revenue from operations $ — $ — $ — $ — Total operating expenses 414 431 339 405 Operating loss (414 ) (431 ) (339 ) (405 ) Other income, net of other expenses 1,479 2,032 1,302 2,110 Income before gain on land sales, non-contolling interest, and taxes 1,065 1,601 963 1,705 Income tax expense 224 336 202 358 Net income $ 841 $ 1,265 $ 761 $ 1,347 PER SHARE DATA Earnings per share - basic and diluted Net income applicable to common shares $ 0.20 $ 0.30 $ 0.18 $ 0.32 Weighted average common shares used in computing earnings per share 4,168,414 4,168,414 4,168,414 4,168,414 Three Months Ended 2019 March 31, June 30, September 30, December 31, (dollars in thousands, except per share amounts) 2019 Revenue from operations $ — $ — $ — $ — Total operating expenses 414 448 368 358 Operating loss (414 ) (448 ) (368 ) (358 ) Other income, net of other expenses 1,642 1,824 1,672 1,673 Income before gain on land sales, non-contolling interest, and taxes 1,228 1,376 1,304 1,315 Income tax expense 258 289 274 257 Net income (loss) $ 970 $ 1,087 $ 1,030 $ 1,058 PER SHARE DATA Earnings per share - basic and diluted Net income (loss) applicable to common shares $ 0.23 $ 0.26 $ 0.25 $ 0.25 Weighted average common shares used in computing earnings per share 4,168,214 4,168,214 4,168,214 4,168,414 Three Months Ended 2018 March 31, June 30, September 30, December 31, (dollars in thousands, except per share amounts) 2018 Revenue from operations $ — $ — $ — $ — Total operating expenses 340 374 634 462 Operating loss (340 ) (374 ) (634 ) (462 ) Other income, net of other expenses 1,042 1,081 1,201 1,556 Giain on sale of real estate land — — 7,323 — Income before gain on land sales, non-contolling interest, and taxes 702 707 7,890 1,094 Income tax expense — — 1,902 281 Net income (loss) $ 702 $ 707 $ 5,988 $ 813 PER SHARE DATA Earnings per share - basic and diluted Net income (loss) applicable to common shares $ 0.17 $ 0.17 $ 1.44 $ 0.19 Weighted average common shares used in computing earnings per share 4,168,214 4,168,214 4,168,214 4,168,214

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Dec. 31, 2020
Transcontinental Realty Investors, Inc. [Member]
Percentage of ownership	81.23%

REAL ESTATE (Details Narrative)

REAL ESTATE (Details Narrative) - USD ($) $ in Thousands	Aug. 22, 2018	Sep. 30, 2018	Dec. 31, 2018
Real Estate [Line Items]
Gain on sale of real estate land			$ 7,323
Proceeds from sale of real estate land			$ 22,550
TCI [Member] | Land [Member]
Real Estate [Line Items]
Real estate holding cost		$ 15,100
Transfer of land at book value	$ 7,500
Gain on sale of real estate land		7,300
Proceeds from sale of real estate land		$ 22,500

NOTES AND INTEREST RECEIVABLE_3

NOTES AND INTEREST RECEIVABLE FROM RELATED PARTIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accrued interest	$ 804
Total	13,930	$ 14,030
Performing Loans [Member]
Amount	13,126
Accrued interest	804
Total	$ 13,930
Performing Loans [Member] | Unified Housing Foundation, Inc. (Echo Station) [Member]
Maturity date	Dec. 31, 2032
Interest Rate	12.00%
Description of property	Echo Station
Amount	$ 1,481
Collateral	Secured
Performing Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]
Maturity date	Dec. 31, 2032
Interest Rate	12.00%
Description of property	Lakeshore Villas
Amount	$ 6,369
Collateral	Secured
Performing Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]
Maturity date	Dec. 31, 2032
Interest Rate	12.00%
Description of property	Lakeshore Villas
Amount	$ 2,000
Collateral	Secured
Performing Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch) [Member]
Maturity date	Dec. 31, 2032
Interest Rate	12.00%
Description of property	Limestone Ranch
Amount	$ 1,953
Collateral	Secured
Performing Loans [Member] | Unified Housing Foundation, Inc. (Timbers of Terrell) [Member]
Maturity date	Dec. 31, 2032
Interest Rate	12.00%
Description of property	Timbers of Terrell
Amount	$ 1,323
Collateral	Secured

NOTES AND INTEREST RECEIVABLE_4

NOTES AND INTEREST RECEIVABLE FROM RELATED PARTIES (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Notes and interest receivable from related parties		$ 13,930	$ 14,030
Recognized interest income notes receivable		5,373	6,574	$ 4,880
Collection of note receivable		808
Subsequent Event [Member]
Collection of note receivable	$ 1,100
Unified Housing Foundation, Inc. [Member]
Recognized interest income notes receivable		$ 1,800	$ 1,800
Interest rate		12.00%
Maturity date		Dec. 31, 2032
Unified Housing Foundation, Inc. [Member] | Subsequent Event [Member]
Collection of note receivable	1,900
Collection of accrued interest	$ 600

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND FEES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Advisory fees	$ 768	$ 737	$ 685
Net income fees	371	357	631
Related party fees	1,139	1,094	1,316
Cost reimbursements	247	260	284
Interest received	$ 3,583	$ 4,780	$ 3,086

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND FEES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Advisory fees	$ (768)	$ (737)	$ (685)
Net income fee	(371)	(357)	(631)
Cost reimbursements	(247)	(260)	(284)
Interest income	3,583	4,780	3,086
Transcontinental Realty Investors, Inc. [Member]
Related party receivable, beginning	86,221	82,089
Cash transfers	3,232	2,959
Advisory fees	(768)	(737)
Net income fee	(371)	(357)
Cost reimbursements	(247)	(260)
Expenses paid by advisor	(4)	85
TIF reallocation	0	(1,260)
Interest income	3,583	4,780
Income tax	(1,120)	(1,078)
Related party receivable, ending	$ 90,526	$ 86,221	$ 82,089

RELATED PARTY TRANSACTIONS AN_5

RELATED PARTY TRANSACTIONS AND FEES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stautory tax rate	21.00%
Notes and interest receivable from related parties, net	$ 13,930
Recognized interest income notes receivable	5,373	$ 6,574	$ 4,880
Unified Housing Foundation, Inc. [Member]
Notes and interest receivable from related parties, net	13,900
Recognized interest income notes receivable	$ 1,800	$ 1,800

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income before income taxes	$ 1,705	$ 963	$ 1,601	$ 1,065	$ 1,315	$ 1,304	$ 1,376	$ 1,228	$ 1,094	$ 7,890	$ 707	$ 702	$ 5,334	$ 5,223	$ 10,393

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	3 Months Ended										12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal											$ 1,120	$ 1,078	$ 1,391
Deferred and Other:
Federal													792
Total Tax Expense	$ 358	$ 202	$ 336	$ 224	$ 257	$ 274	$ 289	$ 258	$ 281	$ 1,902	$ 1,120	$ 1,078	$ 2,183

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	3 Months Ended										12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Expense at Federal Statutory Rate											$ 1,120	$ 1,078	$ 2,183
Reported Income Tax Expense	$ 358	$ 202	$ 336	$ 224	$ 257	$ 274	$ 289	$ 258	$ 281	$ 1,902	$ 1,120	$ 1,078	$ 2,183
Effective Tax Rate											21.00%	21.00%	21.00%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Refund payments		$ 44,900	$ 89,700
Scenario Forecast [Member]
Refund payments	$ 44,900

QUARTERLY DATA (Details)

QUARTERLY DATA (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total operating expenses	$ 405	$ 339	$ 431	$ 414	$ 358	$ 368	$ 448	$ 414	$ 462	$ 634	$ 374	$ 340	$ 1,589	$ 1,588	$ 1,810
Operating loss	(405)	(339)	(431)	(414)	(358)	(368)	(448)	(414)	(462)	(634)	(374)	(340)	(1,589)	(1,588)	(1,810)
Other income, net of other expenses	2,110	1,302	2,032	1,479	1,673	1,672	1,824	1,642	1,556	1,201	1,081	1,042	6,923	6,811	4,880
Gain on sale of real estate land										7,323
Income before gain on land sales, non-contolling interest, and taxes	1,705	963	1,601	1,065	1,315	1,304	1,376	1,228	1,094	7,890	707	702	5,334	5,223	10,393
Income tax expense	358	202	336	224	257	274	289	258	281	1,902			1,120	1,078	2,183
Net income (loss)	$ 1,347	$ 761	$ 1,265	$ 841	$ 1,058	$ 1,030	$ 1,087	$ 970	$ 813	$ 5,988	$ 707	$ 702	$ 4,214	$ 4,145	$ 8,210
Earnings per share - basic and diluted
Net income (loss) applicable to common shares (in dollars per share)	$ 0.32	$ 0.18	$ 0.30	$ 0.20	$ 0.25	$ 0.25	$ 0.26	$ 0.23	$ 0.19	$ 1.44	$ 0.17	$ 0.17	$ 1.01	$ 0.99	$ 1.97
Weighted average common shares used in computing earnings per share (in shares)	4,168,414	4,168,414	4,168,414	4,168,414	4,168,414	4,168,214	4,168,214	4,168,214	4,168,214	4,168,214	4,168,214	4,168,214	4,168,414	4,168,414	4,168,214

COMMITMENTS, CONTINGENCIES AN_2

COMMITMENTS, CONTINGENCIES AND LIQUIDITY (Details Narrative)	Feb. 04, 2019shares
Commitments and Contingencies Disclosure [Abstract]
Filing Date	2/4/19
Plantiff	Stockholder holding shares of Common Stock of Income Opportunity Realty Investors, Inc.
Common stock held by shareholder of lawsuit	7,900

SCHEDULE III Real Estate (Detai

SCHEDULE III Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate gross carrying value at beginning of year	$ 22,717
Sale of real estate, deductions	22,717
Real Estate gross carrying value at end of year

SCHEDULE IV Mortgage Loans Re_2

SCHEDULE IV Mortgage Loans Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Carrying Amount of Mortgage	$ 13,126	$ 14,030	$ 14,030	$ 14,030
Interest Receivable	804
Notes and interest receivable from related parties, net	$ 13,930
Unified Housing Foundation, Inc. (Echo Station) [Member]
Location	Echo Station/UH of Temple, LLC
Security	100% Interest in UH of Temple, LLC
Interest Rate	12.00%
Final Maturity Date	Dec. 31, 2032
Periodic Payment Terms	Excess cash flow
Prior Liens	$ 8,926
Face Amount of Mortgage	1,809
Carrying Amount of Mortgage	$ 1,481
Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]
Location	Lakeshore Villas/HFS of Humble, LLC
Security	Interest in Unified Housing Foundation Inc
% of Cash Flow	31.50%
Interest Rate	12.00%
Final Maturity Date	Dec. 31, 2032
Periodic Payment Terms	Excess cash flow
Prior Liens	$ 27,037
Face Amount of Mortgage	8,836
Carrying Amount of Mortgage	$ 6,369
Unified Housing Foundation, Inc. (Limestone Ranch) [Member]
Location	Limestone Ranch/UH of Vista Ridge, LLC
Security	100% Interest in UH of Vista Ridge, LLC
Interest Rate	12.00%
Final Maturity Date	Dec. 31, 2032
Periodic Payment Terms	Excess cash flow
Prior Liens	$ 24,866
Face Amount of Mortgage	2,427
Carrying Amount of Mortgage	$ 1,953
Unified Housing Foundation, Inc. (Timbers of Terrell) [Member]
Location	Timbers at the Park/UH of Terrell, LLC
Security	100% Interest in UH of Terrell, LLC
Interest Rate	12.00%
Final Maturity Date	Dec. 31, 2032
Periodic Payment Terms	Excess cash flow
Prior Liens	$ 13,900
Face Amount of Mortgage	1,702
Carrying Amount of Mortgage	$ 1,323
Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]
Location	Lakeshore Villas/HFS of Humble, LLC
% of Cash Flow	68.50%
Interest Rate	12.00%
Final Maturity Date	Dec. 31, 2032
Periodic Payment Terms	Excess cash flow
Prior Liens	$ 27,037
Face Amount of Mortgage	2,189
Carrying Amount of Mortgage	$ 2,000

SCHEDULE IV Mortgage Loans Re_3

SCHEDULE IV Mortgage Loans Receivable (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Begining, balance	$ 14,030	$ 14,030	$ 14,030
Increase of interest receivable on mortgage loans, additions
Amounts received, deductions	(100)
Ending, balance	$ 13,126	$ 14,030	$ 14,030