EXHIBIT 7.8 AGREEMENT OF JOINT FILING Cooper River Properties, L.L.C., Insignia Properties, L.P., Insignia Properties Trust, Madison River Properties, L.L.C., AIMCO Properties, L.P., AIMCO-GP, Inc. and Apartment Investment and Management Company agree...

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                                                                    EXHIBIT 7.8

                            AGREEMENT OF JOINT FILING

         Xxxxxx River Properties, L.L.C., Insignia Properties, L.P., Insignia
Properties Trust, Madison River Properties, L.L.C., AIMCO Properties, L.P.,
AIMCO-GP, Inc. and Apartment Investment and Management Company agree that the
amendment to the Statement on Schedule 13D to which this Agreement is attached
as an exhibit, and all future amendments to this Statement, shall be filed on
behalf of each of them. This Agreement is intended to satisfy Rule 13d-1(f)
under the Securities Exchange Act of 1934, as amended. This Agreement may be
executed in any number of counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same
instrument. 

Dated: January 22, 1999


                                             XXXXXX RIVER PROPERTIES, L.L.C.

                                             By:  AIMCO Properties, L.P.,
                                                  its managing member

                                             By:  AIMCO-GP, Inc.,
                                                  its General Partner


                                             By:  /s/ XXXXXXX X. XXXX
                                                  ------------------------------
                                                  Xxxxxxx X. Xxxx
                                                  Executive Vice President


                                             INSIGNIA PROPERTIES, L.P.

                                             By:  Insignia Properties Trust,
                                                  its General Partner


                                             By:  /s/ XXXXXXX X. XXXX
                                                  ------------------------------
                                                  Xxxxxxx X. Xxxx
                                                  Executive Vice President


                                             INSIGNIA PROPERTIES TRUST


                                             By:  /s/ XXXXXXX X. XXXX
                                                  ------------------------------
                                                  Xxxxxxx X. Xxxx
                                                  Executive Vice President
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                                             MADISON RIVER PROPERTIES, L.L.C.

                                             By:  AIMCO Properties, L.P.,
                                                  its managing member

                                             By:  AIMCO-GP, Inc.,
                                                  its General Partner


                                             By:  /s/ XXXXXXX X. XXXX
                                                  ------------------------------
                                                  Xxxxxxx X. Xxxx
                                                  Executive Vice President


                                             AIMCO PROPERTIES, L.P.

                                             By:  AIMCO-GP, Inc.,
                                                  its General Partner


                                             By:  /s/ XXXXXXX X. XXXX
                                                  ------------------------------
                                                  Xxxxxxx X. Xxxx
                                                  Executive Vice President


                                             AIMCO-GP, INC.


                                             By:  /s/ XXXXXXX X. XXXX
                                                  ------------------------------
                                                  Xxxxxxx X. Xxxx
                                                  Executive Vice President

                                             APARTMENT INVESTMENT AND
                                             MANAGEMENT COMPANY


                                             By:  /s/ XXXXXXX X. XXXX
                                                  ------------------------------
                                                  Xxxxxxx X. Xxxx
                                                  Executive Vice President