EXHIBIT (a)(14)
                                                                 ---------------



                          BERKSHIRE INCOME REALTY, INC.

          EXCHANGE OFFERS FOR A TOTAL OF UP TO 3,010,941 SHARES OF OUR
                9% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK



                                                February 27, 2003

Dear Krupp Mortgage Fund Investor:

We are excited to inform you that our common stockholder, KRF Company, L.L.C.,
through a newly created affiliate, Gables of Texas Limited Partnership, has
entered into an agreement to acquire The Gables Apartments (the "Gables"), an
apartment complex located in Houston, Texas, from Wentwood Gables, L.P. The
purchase is expected to take place on March 25, 2003. Although there can be no
assurance that this purchase will occur, if it does, we currently intend to
acquire Gables of Texas Limited Partnership from KRF Company, subject to certain
closing conditions and the approval of the audit committee of our board of
directors.

Our primary goal is to acquire, own, and operate multi-family residential
properties. Our ownership of the Gables will enhance our investment presence in
what we consider to be a strong metropolitan market. At the completion of our
exchange offers, we will own interests in five properties which are described in
the prospectus, dated January 9, 2003, and if this acquisition is completed the
Gables will be the sixth property held by us. Enclosed is a prospectus
supplement, which contains additional information relating to the proposed
acquisition.

TO ACCEPT OUR EXCHANGE OFFER, THE LETTER OF TRANSMITTAL MUST BE COMPLETED,
SIGNED, DATED, AND RETURNED TO US IN THE ENCLOSED PREPAID SELF-ADDRESSED
ENVELOPE.

If you have already sent in your Letter of Transmittal to accept the offer, you
do not need to complete the enclosed Letter of Transmittal. We are sending
confirmations to investors who have returned their completed Letter of
Transmittal to us. If you do not receive a confirmation within 10 business days,
please call us at the number provided below.

Should you have any questions, please contact us at 1-866-335-7877 and we will
be happy to assist you.


                                        Very truly yours,


                                        BERKSHIRE INCOME REALTY, INC.


WE ARE OFFERING TO EXCHANGE UP TO 3,010,941 OF OUR 9% SERIES A CUMULATIVE
REDEEMABLE PREFERRED STOCK AS FOLLOWS:



                                             
0.1481 PREFERRED SHARE FOR EACH INTEREST IN     0.1120 PREFERRED SHARE FOR EACH INTEREST IN
KRUPP GOVERNMENT INCOME TRUST                   KRUPP INSURED PLUS LIMITED PARTNERSHIP

0.2500 PREFERRED SHARE FOR EACH INTEREST IN     0.0420 PREFERRED SHARE FOR EACH INTEREST IN
KRUPP GOVERNMENT INCOME TRUST II                KRUPP INSURED PLUS II LIMITED PARTNERSHIP

0.0750 PREFERRED SHARE FOR EACH INTEREST IN     0.0717 PREFERRED SHARE FOR EACH INTEREST IN
KRUPP INSURED MORTGAGE LIMITED PARTNERSHIP      KRUPP INSURED PLUS III LIMITED PARTNERSHIP


THE OFFERS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 17, 2003,
UNLESS EXTENDED. ANY EXTENSION WILL BE ANNOUNCED BY PRESS RELEASE NO LATER THAN
9:00 A.M., NEW YORK CITY TIME, ON THE DAY FOLLOWING THE PREVIOUSLY SCHEDULED
EXPIRATION DATE. THE TERMS OF THE OFFERS ARE DESCRIBED IN THE PROSPECTUS, DATED
JANUARY 9, 2003.