SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                                
                           FORM 10-QSB
                                
           Quarterly Report Under Section 13 or 15(d)
             of The Securities Exchange Act of 1934
                                
             For the Quarter Ended:  March 31, 1997
                                
                Commission file number:  0-23778
                                
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
(Exact Name of Small Business Issuer as Specified in its Charter)


      State of Minnesota                   41-1729121
(State or other Jurisdiction of         (I.R.S. Employer
Incorporation or Organization)        Identification No.)


  1300 Minnesota World Trade Center, St. Paul, Minnesota 55101
            (Address of Principal Executive Offices)
                                
                          (612) 227-7333
                   (Issuer's telephone number)
                                
                                
                         Not Applicable
 (Former name, former address and former fiscal year, if changed
                       since last report)
                                
Check  whether  the issuer (1) filed all reports required  to  be
filed  by Section 13 or 15(d) of the Securities Exchange  Act  of
1934  during the preceding 12 months (or for such shorter  period
that  the registrant was required to file such reports), and  (2)
has  been  subject to such filing requirements for  the  past  90
days.

                        Yes  [X]     No
                                
         Transitional Small Business Disclosure Format:
                                
                        Yes          No  [X]
                                
                                
                                
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                                
                              INDEX
                                
                                
                                                     

PART I. Financial Information

 Item 1. Balance Sheet as of March 31, 1997 and December 31, 1996    

         Statements for the Periods ended March 31, 1997 and 1996:

           Income                                     

           Cash Flows                                 

           Changes in Partners' Capital               

         Notes to Financial Statements               

 Item 2. Management's Discussion and Analysis    

PART II. Other Information

 Item 1. Legal Proceedings                          

 Item 2. Changes in Securities                      

 Item 3. Defaults Upon Senior Securities            

 Item 4. Submission of Matters to a Vote of Security  Holders

 Item 5. Other Information                          

 Item 6. Exhibits and Reports on Form 8-K           

<PAGE>                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP

                          BALANCE SHEET
                                
              MARCH 31, 1997 AND DECEMBER 31, 1996
                                
                           (Unaudited)
                                
                             ASSETS
                                
                                                         1997          1996

CURRENT ASSETS:
  Cash and Cash Equivalents                         $ 2,310,864    $ 2,177,670
  Receivables                                            38,721             95
                                                     -----------    -----------
      Total Current Assets                            2,349,585      2,177,765
                                                     -----------    -----------
INVESTMENTS IN REAL ESTATE:
  Land                                                6,727,436      6,809,341
  Buildings and Equipment                            11,311,705     11,426,434
  Property Acquisition Costs                             59,657         54,410
  Accumulated Depreciation                             (800,208)      (710,971)
                                                     -----------    -----------
      Net Investments in Real Estate                 17,298,590     17,579,214
                                                     -----------    -----------
            Total  Assets                           $19,648,175    $19,756,979
                                                     ===========    ===========


                        LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.              $    43,460    $    77,446
  Distributions Payable                                 468,620        468,755
  Unearned Rent                                          36,100              0
                                                     -----------    -----------
      Total Current Liabilities                         548,180        546,201
                                                     -----------    -----------

PARTNERS' CAPITAL (DEFICIT):
  General Partners                                      (15,941)       (14,833)
  Limited Partners, $1,000 Unit Value;
   24,000 Units authorized and issued;
   23,652 Units outstanding                          19,115,936     19,225,611
                                                     -----------    -----------
      Total Partners' Capital                        19,099,995     19,210,778
                                                     -----------    -----------
        Total Liabilities and Partners' Capital     $19,648,175    $19,756,979
                                                     ===========    ===========
                                
                                                                
 The accompanying notes to financial statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                       STATEMENT OF INCOME
                                
                 FOR THE PERIODS ENDED MARCH 31
                                
                           (Unaudited)
                                
  
                                                        1997           1996

INCOME:
   Rent                                            $   477,349     $   428,975
   Investment Income                                    30,741          75,692
                                                    -----------     -----------
        Total Income                                   508,090         504,667
                                                    -----------     -----------

EXPENSES:
   Partnership   Administration  -  Affiliates          50,676          66,683
   Partnership Administration and Property
      Management - Unrelated Parties                    22,314          11,107
   Depreciation                                         99,726          81,746
                                                    -----------     -----------
        Total Expenses                                 172,716         159,536
                                                    -----------     -----------

OPERATING INCOME                                       335,374         345,131

GAIN ON SALE OF REAL ESTATE                             38,692               0

MINORITY INTEREST IN OPERATING INCOME                        0         (20,723)
                                                    -----------     -----------

NET INCOME                                         $   374,066     $   324,408
                                                    ===========     ===========

NET INCOME ALLOCATED:
   General Partners                                $     3,741     $     3,244
   Limited Partners                                    370,325         321,164
                                                    -----------     -----------
                                                   $   374,066     $   324,408
                                                    ===========     ===========

NET INCOME PER LIMITED PARTNERSHIP UNIT
 (23,652 and 23,869 weighted average Units
 outstanding in 1997 and 1996, respectively)       $     15.66     $     13.46
                                                    ===========     ===========



 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>

    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                     STATEMENT OF CASH FLOWS
                                
                 FOR THE PERIODS ENDED MARCH 31
                                
                           (Unaudited)
                                
                                                        1997            1996

CASH FLOWS FROM OPERATING ACTIVITIES:
   Net   Income                                      $   374,066   $   324,408

   Adjustments to Reconcile Net Income to Net Cash
   Provided by Operating Activities:
     Depreciation                                         99,726        81,746
     Gain on Sale of Real Estate                         (38,692)            0
     Increase in Receivables                             (38,626)      (79,118)
     Decrease in Payable to
        AEI Fund Management, Inc.                        (33,986)      (33,778)
     Increase in Unearned Rent                            36,100             0
     Minority Interest                                         0        (3,597)
                                                      -----------   ----------
        Total Adjustments                                 24,522       (34,747)
                                                      -----------   ----------
        Net Cash Provided By
        Operating Activities                             398,588       289,661
                                                      -----------   ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Investments in Real Estate                             (5,248)   (1,900,753)
   Proceeds from Sale of Real Estate                     224,838             0
                                                      -----------   ----------
        Net Cash Provided By (Used For)
        Investing Activities                             219,590    (1,900,753)
                                                      -----------   -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Decrease in Distributions Payable                        (135)            0
   Distributions to Partners                            (484,849)     (484,847)
                                                      -----------   -----------
        Net Cash Used For
        Financing Activities                            (484,984)     (484,847)
                                                      -----------   -----------
NET INCREASE (DECREASE) IN CASH
   AND CASH EQUIVALENTS                                  133,194    (2,095,939)

CASH AND CASH EQUIVALENTS,
   beginning of period                                 2,177,670     4,833,630
                                                      -----------   -----------
CASH AND CASH EQUIVALENTS,
   end of period                                     $ 2,310,864   $ 2,737,691
                                                      ===========   ===========
                                
 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
            STATEMENT OF CHANGES IN PARTNERS' CAPITAL
                                
                 FOR THE PERIODS ENDED MARCH 31
                                
                           (Unaudited)
                                

                                                                      Limited
                                                                   Partnership
                              General      Limited                    Units
                              Partners     Partners     Total      Outstanding


BALANCE, December 31, 1995 $  (11,576)  $19,548,040   $19,536,464    23,868.50

  Distributions                (4,849)     (479,998)     (484,847)

  Net Income                    3,244       321,164       324,408
                            ----------   -----------   -----------  ----------
BALANCE, March 31, 1996    $  (13,181)  $19,389,206   $19,376,025    23,868.50
                            ==========   ===========   ===========  ==========


BALANCE, December 31, 1996 $  (14,833)  $19,225,611   $19,210,778    23,652.30

  Distributions                (4,849)     (480,000)     (484,849)

  Net Income                    3,741       370,325       374,066
                            ----------   -----------   -----------  ----------
BALANCE, March 31, 1997    $  (15,941)  $19,115,936   $19,099,995    23,652.30
                            ==========   ===========   ===========  ==========




 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                                
                         MARCH 31, 1997
                                
                           (Unaudited)

(1)  The  condensed  statements included herein have been  prepared
     by  the Partnership, without audit, pursuant to the rules  and
     regulations  of  the Securities and Exchange  Commission,  and
     reflect   all  adjustments  which  are,  in  the  opinion   of
     management,  necessary to a fair statement of the  results  of
     operations for the interim period, on a basis consistent  with
     the  annual audited statements.  The adjustments made to these
     condensed   statements  consist  only  of   normal   recurring
     adjustments.   Certain information, accounting  policies,  and
     footnote    disclosures   normally   included   in   financial
     statements  prepared  in  accordance with  generally  accepted
     accounting principles have been condensed or omitted  pursuant
     to  such  rules  and  regulations,  although  the  Partnership
     believes  that  the  disclosures  are  adequate  to  make  the
     information  presented not misleading.  It is  suggested  that
     these  condensed financial statements be read  in  conjunction
     with  the  financial statements and the summary of significant
     accounting  policies  and  notes  thereto  included   in   the
     Partnership's latest annual report on Form 10-KSB.

(2)  Organization -

     AEI  Net  Lease Income & Growth Fund XX Limited  Partnership
     (Partnership)  was  formed to acquire and  lease  commercial
     properties   to   operating  tenants.    The   Partnership's
     operations  are  managed  by AEI Fund  Management  XX,  Inc.
     (AFM),  the  Managing  General Partner of  the  Partnership.
     Robert  P.  Johnson, the President and sole  shareholder  of
     AFM,  serves  as  the  Individual  General  Partner  of  the
     Partnership.   An  affiliate of AFM,  AEI  Fund  Management,
     Inc.,  performs  the administrative and operating  functions
     for the Partnership.
     
     The   terms   of  the  Partnership  offering  call   for   a
     subscription  price of $1,000 per Limited Partnership  Unit,
     payable   on  acceptance  of  the  offer.   The  Partnership
     commenced   operations  on  June  30,  1993   when   minimum
     subscriptions    of   1,500   Limited   Partnership    Units
     ($1,500,000)  were  accepted.   On  January  19,  1995,  the
     Partnership's   offering   terminated   when   the   maximum
     subscription  limit  of  24,000  Limited  Partnership  Units
     ($24,000,000) was reached.
     
     Under  the  terms of the Limited Partnership Agreement,  the
     Limited  Partners and General Partners contributed funds  of
     $24,000,000 and $1,000, respectively.  During the  operation
     of the Partnership, any Net Cash Flow, as defined, which the
     General Partners determine to distribute will be distributed
     90% to the Limited Partners and 10% to the General Partners;
     provided,  however, that such distributions to  the  General
     Partners will be subordinated to the Limited Partners  first
     receiving an annual, noncumulative distribution of Net  Cash
     Flow equal to 10% of their Adjusted Capital Contribution, as
     defined,  and, provided further, that in no event  will  the
     General Partners receive less than 1% of such Net Cash  Flow
     per  annum.  Distributions to Limited Partners will be  made
     pro rata by Units.
     
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)
                                
(2)  Organization - (Continued)

     Any  Net  Proceeds  of Sale, as defined, from  the  sale  or
     financing of the Partnership's properties which the  General
     Partners determine to distribute will, after provisions  for
     debts  and  reserves, be paid in the following  manner:  (i)
     first,  99%  to the Limited Partners and 1% to  the  General
     Partners until the Limited Partners receive an amount  equal
     to:  (a)  their Adjusted Capital Contribution  plus  (b)  an
     amount  equal  to 12% of their Adjusted Capital Contribution
     per  annum, cumulative but not compounded, to the extent not
     previously  distributed  from  Net  Cash  Flow;   (ii)   any
     remaining  balance will be distributed 90%  to  the  Limited
     Partners and 10% to the General Partners.  Distributions  to
     the Limited Partners will be made pro rata by Units.
     
     For  tax  purposes,  profits  from  operations,  other  than
     profits  attributable  to  the  sale,  exchange,  financing,
     refinancing   or  other  disposition  of  the  Partnership's
     property,  will  be  allocated first in the  same  ratio  in
     which,  and  to the extent, Net Cash Flow is distributed  to
     the Partners for such year.  Any additional profits will  be
     allocated in the same ratio as the last dollar of  Net  Cash
     Flow  is  distributed.  Net losses from operations  will  be
     allocated 99% to the Limited Partners and 1% to the  General
     Partners.
     
     For  tax purposes, profits arising from the sale, financing,
     or  other disposition of the Partnership's property will  be
     allocated  in  accordance with the Partnership Agreement  as
     follows:  (i) first, to those partners with deficit balances
     in  their capital accounts in an amount equal to the sum  of
     such  deficit  balances; (ii) second,  99%  to  the  Limited
     Partners  and 1% to the General Partners until the aggregate
     balance in the Limited Partners' capital accounts equals the
     sum  of the Limited Partners' Adjusted Capital Contributions
     plus  an  amount  equal  to 12% of  their  Adjusted  Capital
     Contributions  per annum, cumulative but not compounded,  to
     the  extent  not  previously  allocated;  (iii)  third,  the
     balance of any remaining gain will then be allocated 90%  to
     the  Limited  Partners  and  10% to  the  General  Partners.
     Losses will be allocated 98% to the Limited Partners and  2%
     to the General Partners.
     
     The  General Partners are not required to currently  fund  a
     deficit   capital   balance.   Upon   liquidation   of   the
     Partnership or withdrawal by a General Partner, the  General
     Partners will contribute to the Partnership an amount  equal
     to  the  lesser  of  the deficit balances in  their  capital
     accounts  or  1%  of  total Limited  Partners'  and  General
     Partners' capital contributions.
     
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)
                                
(3)  Investments in Real Estate -

     The  Partnership  leases its properties to  various  tenants
     through   non-cancelable  triple  net  leases,   which   are
     classified  as operating leases.  Under a triple net  lease,
     the  lessee  is  responsible  for  all  real  estate  taxes,
     insurance,  maintenance, repairs and operating  expenses  of
     the  property.  The initial Lease terms are 20 years for the
     Garden Ridge store and Champps, HomeTown Buffet, Arby's/Mrs.
     Winner's, Denny's and Applebee's restaurants.  The Red Robin
     restaurants' Lease Agreements expire on November  30,  2004,
     and  December 31, 2007.  The Leases contain renewal  options
     which  may  extend  the Lease term an  additional  10  years
     except  for  the Denny's restaurants and the Applebee's  and
     Champps restaurants in Ohio which have renewal options  that
     may  extend  the Lease term an additional 15 years  and  the
     Garden Ridge retail store which has renewal options that may
     extend  the  Lease term an additional 25 years.  The  Leases
     contain  rent  clauses  which  entitle  the  Partnership  to
     receive additional rent in future years based on stated rent
     increases.   Certain  lessees have been granted  options  to
     purchase the property.  Depending on the lease, the purchase
     price  is either determined by a formula, or is the  greater
     of  the  fair  market value of the property  or  the  amount
     determined  by a formula.  In all cases, if the option  were
     to  be exercised by the lessee, the purchase price would  be
     greater than the original cost of the property.
     
     The  Partnership's  properties are all  commercial,  single-
     tenant  buildings.   The cost of the  property  and  related
     accumulated depreciation at March 31, 1997 are as follows:

                                      Buildings and               Accumulated
Property                      Land      Equipment      Total      Depreciation

HomeTown Buffet,
   Albuquerque, NM      $   241,960  $   289,371   $   531,331    $   33,760
Red Robin,
   Colorado Springs, CO     979,057    1,323,210     2,302,267       137,834
Red Robin,
   Colorado Springs, CO     721,168    1,034,273     1,755,441       107,737
Arby's/Mrs. Winner's,
   Smyrna, GA               270,896      379,457       650,353        37,556
Applebee's, Middletown, OH  330,557      765,405     1,095,962        80,726
Denny's, Burleson, TX       374,721      548,759       923,480        43,943
Applebee's, McAllen, TX     463,553      856,551     1,320,104        76,082
Applebee's, Lafayette, LA   416,197      760,362     1,176,559        60,005
Applebee's, Brownsville, TX 523,042      855,694     1,378,736        53,342
Denny's, Grapevine, TX      722,668      632,053     1,354,721        30,616
Media Play, Apple Valley,MN 425,360      997,341     1,422,701        44,232
Garden Ridge, Pineville, NC 540,354    1,126,738     1,667,092        37,558
Champps, Lyndhurst, OH      717,903    1,742,491    2,460,394         56,817
                         -----------  -----------  -----------    -----------
                        $ 6,727,436  $11,311,705  $18,039,141    $   800,208
                         ===========  ===========  ===========    ===========

                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)
                                
(3)  Investments in Real Estate -  (Continued)

     On  March  28,  1996,  the Partnership  purchased  a  18.50%
     interest  in  a  Garden  Ridge  store  in  Pineville,  North
     Carolina  for $1,667,092.  The property is leased to  Garden
     Ridge,  L.P. under a Lease Agreement with a primary term  of
     20  years  and  annual  rental payments  of  $174,319.   The
     remaining  interests in the property are owned  by  AEI  Net
     Lease  Income & Growth Fund XIX Limited Partnership and  AEI
     Income & Growth Fund XXI Limited Partnership, affiliates  of
     the Partnership.
     
     On  April  10, 1996, the Partnership purchased  a  90.71346%
     interest  in  a  Champps Americana restaurant in  Lyndhurst,
     Ohio  for  $2,460,394.  The property is leased to  Americana
     Dining  Corporation under a Lease Agreement with  a  primary
     term  of  20  years and annual rental payments of  $258,886.
     The  remaining interest in the property was purchased by the
     Individual  General  Partner of  the  Partnership,  and  AEI
     Institutional  Net  Lease  Fund '93,  an  affiliate  of  the
     Partnership.
     
     In  August, 1995, the Partnership entered into an  Agreement
     to  purchase an Italianni's restaurant in Columbus, Ohio for
     approximately  $1,440,000.   The Agreement  with  Ristoranti
     Karlo,  Inc. included a Lease Agreement with a primary  term
     of  15  years  and  annual rental payments of  approximately
     $162,000.   The  Partnership  advanced  $1,215,483  for  the
     construction  of the property and was charging  interest  on
     the  Note  at  the  rate  of 7.0%.   On  May  1,  1996,  the
     Partnership began charging interest on the Note at the  rate
     of 11.25%.
     
     In  October,  1996,  the  parties agreed  to  terminate  the
     Agreement.    Ristoranti   Karlo,   Inc.   reimbursed    the
     Partnership for all construction advances, accrued  interest
     and for certain expenses.
     
     On  April 21, 1997, the Partnership purchased a 37% interest
     in   a   parcel   of  land  in  Schaumburg,   Illinois   for
     approximately  $654,000.   The land  is  leased  to  Champps
     Americana,  Inc.  (Champps) under a Lease Agreement  with  a
     primary  term  of  20  years and annual rental  payments  of
     approximately $50,000.  The Partnership also entered into  a
     Development  Financing Agreement under which the Partnership
     will  advance  funds to Champps for the  construction  of  a
     Champps  Americana restaurant on the site.  The  Partnership
     is charging interest on the advances at a rate of 7.0%.  The
     total  purchase price, including the cost of the land,  will
     be  approximately  $1,587,000.  After  the  construction  is
     complete,  the  Lease Agreement will be amended  to  require
     annual  rental  payments  of  approximately  $170,000.   The
     remaining interests in the property are owned by AEI  Income
     & Growth Fund XXI Limited Partnership and Net Lease Income &
     Growth  Fund  84-A  Limited Partnership, affiliates  of  the
     Partnership.
     
     During   1996,   the  Partnership  sold  31.7210%   of   the
     Arby's/Mrs. Winner's restaurant in Smyrna, Georgia,  in  two
     separate  transactions  to  unrelated  third  parties.   The
     Partnership  received  total net sale proceeds  of  $461,077
     which  resulted in a total net gain of $87,281.   The  total
     cost and accumulated depreciation of the interests sold  was
     $393,493 and $19,697, respectively.
     
                                
    AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)
                                
(3)  Investments in Real Estate -  (Continued)

     On  January  10,  1997, the Partnership sold  an  additional
     15.8515% interest in the Arby's/Mrs. Winner's restaurant  in
     Smyrna,   Georgia   to  an  unrelated  third   party.    The
     Partnership  received net sale proceeds  of  $224,838  which
     resulted in a net gain of $38,692.  At the time of the sale,
     the   cost  and  related  accumulated  depreciation  of  the
     interest sold was $196,635 and $10,489, respectively.
     
     On  April  21,  1997,  the Partnership  sold  an  additional
     13.4236% interest in the Arby's/Mrs. Winner's restaurant  in
     Smyrna,   Georgia   to  an  unrelated  third   party.    The
     Partnership  received  net  sale proceeds  of  approximately
     $189,000  which  resulted  in a net  gain  of  approximately
     $32,000.
     
     During  1996, the Partnership distributed net sale  proceeds
     of  $100,570 to the Limited and General Partners as part  of
     their  regular  quarterly distributions which represented  a
     return  of  capital  of $4.17 per Limited Partnership  Unit.
     The  remaining net sale proceeds will either be  re-invested
     in  additional properties or distributed to the Partners  in
     the future.
     
     On  December  21,  1995, the Partnership purchased  a  33.0%
     interest  in  a  Media Play retail store  in  Apple  Valley,
     Minnesota  for $1,422,701.  The property was leased  to  The
     Musicland Group, Inc. (MGI) under a Lease Agreement  with  a
     primary  term  of  18  years and annual rental  payments  of
     $135,482.  The remaining interests in the property are owned
     by   AEI   Net  Lease  Income  &  Growth  Fund  XIX  Limited
     Partnership  and  AEI  Income  &  Growth  Fund  XXI  Limited
     Partnership, affiliates of the Partnership.
     
     In  December,  1996,  the Partnership  and  MGI  reached  an
     agreement in which MGI would buy out and terminate the Lease
     Agreement by making a payment of $800,000, which is equal to
     approximately two years' rent.  The Partnership's  share  of
     such  payment  was  $264,000.   Under  the  Agreement,   MGI
     remained in possession of the property and performed all  of
     its  obligations  under  the  net  lease  agreement  through
     January  31, 1997 at which time it vacated the property  and
     made  it  available for re-let to another tenant.   MGI  was
     responsible for all maintenance and management costs of  the
     property  through  January31,  1997  after  which  date  the
     Partnership  became responsible for its  share  of  expenses
     associated with the property until it is re-let or sold.   A
     specialist in commercial property leasing has been  retained
     to locate a new tenant for the property.
     
     The  Partnership has incurred net costs of $767,743 relating
     to  the review of potential property acquisitions.  Of these
     costs, $708,086 have been capitalized and allocated to land,
     building and equipment.  The remaining costs of $59,657 have
     been   capitalized  and  will  be  allocated   to   property
     acquisitions in future periods.
     
(4)  Payable to AEI Fund Management, Inc. -

     AEI  Fund  Management, Inc. performs the administrative  and
     operating functions for the Partnership.  The payable to AEI
     Fund   Management  represents  the  balance  due  for  those
     services.    This  balance  is  non-interest   bearing   and
     unsecured  and  is  to  be  paid in  the  normal  course  of
     business.


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS

Results of Operations

      For  the  three months ended March 31, 1997 and  1996,  the
Partnership  recognized rental income of $477,349  and  $428,975,
respectively.   During  the same periods,  the  Partnership  also
earned $30,741 and $75,692 in investment income from subscription
proceeds which were invested in short-term money market accounts,
commercial   paper,  federal  agency  notes,   and   construction
advances.  This investment income constituted 6% and 15% of total
income  for  the  three months ended March  31,  1997  and  1996,
respectively.   The  percentage of total  income  represented  by
investment income declines as subscription proceeds are  invested
in properties.

        Musicland Group, Inc. (MGI), the lessee of the Media Play
retail  store in Apple Valley, Minnesota has recently experienced
financial  difficulties and has aggressively  been  restructuring
its  organization.  As part of the restructuring, the Partnership
and MGI reached an agreement in December, 1996 in which MGI would
buy out and terminate the Lease Agreement by making a payment  of
$800,000,  which is equal to approximately two years' rent.   The
Partnership's  share  of such payment was  $264,000.   Under  the
Agreement,  MGI  remained  in  possession  of  the  property  and
performed  all  of its obligations under the net lease  agreement
through  January 31, 1997 at which time it vacated  the  property
and  made  it  available for re-let to another tenant.   MGI  was
responsible  for  all  maintenance and management  costs  of  the
property   through  January  31,  1997  after  which   date   the
Partnership   became  responsible  for  its  share  of   expenses
associated  with  the property until it is  re-let  or  sold.   A
specialist  in commercial property leasing has been  retained  to
locate a new tenant for the property.

       During the three months ended March 31, 1997 and 1996, the
Partnership   paid   Partnership   administration   expenses   to
affiliated  parties of $50,676 and $66,683, respectively.   These
administration  expenses  include  costs  associated   with   the
management of the properties, processing distributions, reporting
requirements  and  correspondence to the Limited  Partners.   The
administrative expenses decrease after completion of the offering
and  acquisition phases of the Partnership's operations.   During
the   same   periods,   the  Partnership   incurred   Partnership
administration  and property management expenses  from  unrelated
parties  of  $22,314 and $11,107, respectively.   These  expenses
represent  direct payments to third parties for legal and  filing
fees,  direct administrative costs, outside audit and  accounting
costs, taxes, insurance and other property costs.

        As of March 31, 1997, the Partnership's cash distribution
rate  was 8.0% on an annualized basis.  Distributions of Net Cash
Flow  to  the  General Partners were subordinated to the  Limited
Partners as required in the Partnership Agreement.  As a  result,
99%  of  distributions  and  income  were  allocated  to  Limited
Partners and 1% to the General Partners.

       Since the Partnership has only recently purchased its real
estate,  inflation  has  had  a minimal  effect  on  income  from
operations.   It is expected that increases in sales  volumes  of
the  tenants due to inflation and real sales growth, will  result
in  an  increase  in rental income over the term of  the  leases.
Inflation  also  may  cause  the  Partnership's  real  estate  to
appreciate in value.  However, inflation and changing prices  may
also  have  an  adverse impact on the operating  margins  of  the
properties' tenants which could impair their ability to pay  rent
and subsequently reduce the Partnership's Net Cash Flow available
for distributions.


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS  (Continued)

Liquidity and Capital Resources

        The  Partnership's  primary  sources  of  cash  are  from
proceeds from the sale of Units, investment income, rental income
and proceeds from the sale of property.  Its primary uses of cash
are  investment in real properties, payment of expenses  involved
in  the  sale of units, the organization of the Partnership,  the
acquisition  of  properties, the management  of  properties,  the
administration   of   the  Partnership,  and   the   payment   of
distributions.

        While the Partnership is purchasing properties, cash flow
from  investing  activities (investment in  real  property)  will
remain  negative  and will constitute the principal  use  of  the
Partnership's  available cash flow.  This use of  cash  flow  for
investing  activities was partially offset by proceeds  from  the
sale of property.

        On  March  28, 1996, the Partnership purchased  a  18.50%
interest in a Garden Ridge store in Pineville, North Carolina for
$1,667,092.  The property is leased to Garden Ridge, L.P. under a
Lease Agreement with a primary term of 20 years and annual rental
payments  of  $174,319.  The remaining interests in the  property
are  owned  by  AEI  Net Lease Income & Growth Fund  XIX  Limited
Partnership and AEI Income & Growth Fund XXI Limited Partnership,
affiliates of the Partnership.

        On  April 10, 1996, the Partnership purchased a 90.71346%
interest in a Champps Americana restaurant in Lyndhurst, Ohio for
$2,460,394.    The   property  is  leased  to  Americana   Dining
Corporation  under a Lease Agreement with a primary  term  of  20
years  and  annual  rental payments of $258,886.   The  remaining
interest in the property was purchased by the Individual  General
Partner of the Partnership, and AEI Institutional Net Lease  Fund
'93, an affiliate of the Partnership.

       In August, 1995, the Partnership entered into an Agreement
to  purchase  an  Italianni's restaurant in  Columbus,  Ohio  for
approximately  $1,440,000.  The Agreement with Ristoranti  Karlo,
Inc.  included a Lease Agreement with a primary term of 15  years
and  annual  rental  payments  of  approximately  $162,000.   The
Partnership  advanced  $1,215,483 for  the  construction  of  the
property  and was charging interest on the Note at  the  rate  of
7.0%.  On May 1, 1996, the Partnership began charging interest on
the Note at the rate of 11.25%.

        In  October,  1996, the parties agreed to  terminate  the
Agreement.  Ristoranti Karlo, Inc. reimbursed the Partnership for
all  construction  advances, accrued  interest  and  for  certain
expenses.

        On  April  21,  1997,  the Partnership  purchased  a  37%
interest  in  a  parcel  of  land  in  Schaumburg,  Illinois  for
approximately $654,000.  The land is leased to Champps Americana,
Inc. (Champps) under a Lease Agreement with a primary term of  20
years  and annual rental payments of approximately $50,000.   The
Partnership  also entered into a Development Financing  Agreement
under which the Partnership will advance funds to Champps for the
construction of a Champps Americana restaurant on the site.   The
Partnership  is charging interest on the advances at  a  rate  of
7.0%.   The total purchase price, including the cost of the land,
will  be  approximately $1,587,000.  After  the  construction  is
complete,  the Lease Agreement will be amended to require  annual
rental   payments  of  approximately  $170,000.   The   remaining
interests  in the property are owned by AEI Income & Growth  Fund
XXI  Limited Partnership and Net Lease Income & Growth Fund  84-A
Limited Partnership, affiliates of the Partnership.

ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS  (Continued)

         During  1996,  the  Partnership  sold  31.7210%  of  the
Arby's/Mrs.  Winner's  restaurant  in  Smyrna,  Georgia,  in  two
separate   transactions   to  unrelated   third   parties.    The
Partnership  received total net sale proceeds of  $461,077  which
resulted  in  a  total net gain of $87,281.  The total  cost  and
accumulated  depreciation of the interests sold was $393,493  and
$19,697, respectively.

        On  January 10, 1997, the Partnership sold an  additional
15.8515%  interest  in  the Arby's/Mrs.  Winner's  restaurant  in
Smyrna,  Georgia  to an unrelated third party.   The  Partnership
received  net sale proceeds of $224,838 which resulted in  a  net
gain  of  $38,692.  At the time of the sale, the cost and related
accumulated  depreciation of the interest sold was  $196,635  and
$10,489, respectively.

        On  April  21,  1997, the Partnership sold an  additional
13.4236%  interest  in  the Arby's/Mrs.  Winner's  restaurant  in
Smyrna,  Georgia  to an unrelated third party.   The  Partnership
received  net  sale  proceeds  of  approximately  $189,000  which
resulted in a net gain of approximately $32,000.

       During 1996, the Partnership distributed net sale proceeds
of  $100,570 to the Limited and General Partners as part of their
regular  quarterly distributions which represented  a  return  of
capital of $4.17 per Limited Partnership Unit.  The remaining net
sale proceeds will either be re-invested in additional properties
or distributed to the Partners in the future.

       The Partnership's primary use of cash flow is distribution
and  redemption  payments to Partners.  The Partnership  declares
its  regular  quarterly  distributions before  the  end  of  each
quarter and pays the distribution in the first week after the end
of  each quarter.  The Partnership attempts to maintain a  stable
distribution  rate from quarter to quarter.  Redemption  payments
are  paid  to  redeeming Partners in the fourth quarter  of  each
year.

        The  Partnership may acquire Units from Limited  Partners
who  have tendered their Units to the Partnership. Such Units may
be  acquired at a discount.  The Partnership is not obligated  to
purchase  in  any  year  more than 5%  of  the  number  of  Units
outstanding at the beginning of the year.  In no event shall  the
Partnership  be  obligated to purchase  Units  if,  in  the  sole
discretion  of the Managing General Partner, such purchase  would
impair the capital or operation of the Partnership.

        During 1996, sixteen Limited Partners redeemed a total of
216.2  Partnership  Units for $194,115  in  accordance  with  the
Partnership  Agreement.   The Partnership  acquired  these  Units
using  Net  Cash  Flow from operations.  In  1995,  five  Limited
Partners  redeemed  a  total  of  131.5  Partnership  Units   for
$118,350.    The  redemptions  increase  the  remaining   Limited
Partners' ownership interest in the Partnership.

      The  continuing rent payments from the properties, together
with  cash generated from the property sales, should be  adequate
to  fund  continuing  distributions and  meet  other  Partnership
obligations on both a short-term and long-term basis.


                   PART II - OTHER INFORMATION
                                
ITEM 1. LEGAL PROCEEDINGS

        There  are no material pending legal proceedings to  which
  the  Partnership  is  a  party or of  which  the  Partnership's
  property is subject.

                   PART II - OTHER INFORMATION
                           (Continued)
                                
ITEM 2. CHANGES IN SECURITIES

        None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

        None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

        None

ITEM 5. OTHER INFORMATION

        None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

        a. Exhibits -
                         Description

           10.1  Purchase Agreement dated  April  15,
                 1997  between  the Partnership  and  Anton
                 Kuster,  Jr.  relating to the property  at
                 4950 South Cobb Drive, Smyrna, Georgia.

           10.2  Property   Co-Tenancy    Ownership
                 Agreement  dated  April 21,  1997  between
                 the  Partnership  and  Anton  Kuster,  Jr.
                 relating  to  the property at  4950  South
                 Cobb Drive, Smyrna, Georgia.

           10.3  Development   Financing   Agreement
                 dated   April   21,   1997   between   the
                 Partnership, AEI Income & Growth Fund  XXI
                 Limited  Partnership, Net Lease  Income  &
                 Growth  Fund 84-A Limited Partnership  and
                 Champps  Americana, Inc. relating  to  the
                 property  at  955  Golf Road,  Schaumburg,
                 Illinois.

           10.4  Net Lease Agreement dated April  21,
                 1997  between the Partnership, AEI  Income
                 &  Growth  Fund  XXI Limited  Partnership,
                 Net   Lease  Income  &  Growth  Fund  84-A
                 Limited     Partnership    and     Champps
                 Americana,  Inc. relating to the  property
                 at 955 Golf Road, Schaumburg, Illinois.

            27   Financial Data Schedule  for  period
                 ended March 31, 1997.

          b.   Reports filed on Form 8-K - None.


                           SIGNATURES
                                

     In accordance with the requirements of the Exchange Act, the
Registrant has caused this report to be signed on its  behalf  by
the undersigned, thereunto duly authorized.


Dated:  May 13, 1997          AEI Net Lease Income & Growth Fund XX
                              Limited Partnership
                              By:  AEI Fund Management XX, Inc.
                              Its: Managing General Partner



                              By: /s/ Robert P Johnson
                                      Robert P. Johnson
                                      President
                                      (Principal Executive Officer)



                              By: /s/ Mark E Larson
                                      Mark E. Larson
                                      Chief Financial Officer
                                      (Principal Accounting Officer)