<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-2000 <PERIOD-END> SEP-30-1999 <CASH> 291,040 <SECURITIES> 2,574,918 <RECEIVABLES> 000 <ALLOWANCES> 000 <INVENTORY> 000 <CURRENT-ASSETS> 000 <PP&E> 766,376 <DEPRECIATION> 000 <TOTAL-ASSETS> 23,984,220<F1> <CURRENT-LIABILITIES> 000 <BONDS> 000 <COMMON> 000 <PREFERRED-MANDATORY> 000 <PREFERRED> 000 <OTHER-SE> 22,956,573 <TOTAL-LIABILITY-AND-EQUITY> 23,984,220<F2> <SALES> 000 <TOTAL-REVENUES> 183,073<F3> <CGS> 000 <TOTAL-COSTS> 000 <OTHER-EXPENSES> 539,325<F4> <LOSS-PROVISION> 000 <INTEREST-EXPENSE> 35,314 <INCOME-PRETAX> 000 <INCOME-TAX> 000 <INCOME-CONTINUING> 000 <DISCONTINUED> 000 <EXTRAORDINARY> 000 <CHANGES> 000 <NET-INCOME> (1,418,227)<F5> <EPS-BASIC> (20.37) <EPS-DILUTED> 000 <FN> <F1>Included in Total assets is Tenant security deposit escrow of $3,788, Investments in Local Limited Partnerships, of $20,308,991, Prepaid assets of $1,489, Replacement reserve escrow of $9,246 and Other assets of $28,372. <F2>Included in Total liability and equity is Accounts payable to affiliates of $16,795, Accounts payable and accrued expenses of $57,207, Mortgage note payable of $705,329, Tenant security deposits payable of $3,742, Deferred revenue of $127,686 and Minority interest in Local Limited Partnerships of $116,888. <F3>Included in Total revenue is Rental of $60,116, and Investment of $78,655 and Other of $44,302. <F4>Included in Other expenses is General and administrative of $194,575, Bad debt expense of $173,739, Asset management fees of $122,997, Rental operations, exclusive of depreciation of $22,052, Depreciation of $13,551 and Amortization of $12,411. <F5>Included in Net loss is Minority interest in losses of Local Limited Partnership of $(98) and Equity in losses of Local Limited Partnerships of $1,026,759. </FN>