SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-KSB

                     Annual Report Under Section 13 or 15(d) of
                        the Securities Exchange Act of 1934

For the Fiscal Year Ended                                      Commission File
December 31, 2001                                               Number 0-16856

                   RESOURCES ACCRUED MORTGAGE INVESTORS 2, L.P.
       -------------------------------------------------------------------
                  (Name of Small Business Issuer in Its Charter)

         DELAWARE                                               13-3368726
---------------------------------                          -------------------
(State or Other Jurisdiction                                (IRS Employer
of Incorporation or Organization)                           Identification No.)


1175 W. MOANA LANE, RENO, NEVADA                                   89509
-----------------------------------------                     ----------------
 (Address of Principal Executive Offices)                        (Zip Code)

(Issuer's Telephone Number, Including Area Code)        775-825-3355
                                                      ----------------

            Securities registered under Section 12(b) of the Exchange Act:

                                       NONE

            Securities registered under Section 12(g) of the Exchange Act:

                       UNITS OF LIMITED PARTNERSHIP INTEREST

     Check whether the issuer: (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the past 12 months, and (2)
has been subject to such filing requirements for the past 90 days.

                    YES    X                     NO
                       -----                      -----

     There is no public market for the Limited Partnership Units.  Accordingly,
information with respect to the aggregate market value of Limited Partnership
Units held by non-affiliates of Registrant has not been supplied.

     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B is not contained in this form, and will not be contained,
to the best of Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB [X].

     Issuer's revenues for its most recent fiscal year were $1,477,860.


                    DOCUMENTS INCORPORATED BY REFERENCE
                    -----------------------------------
                                   None

  Transitional Small Business Disclosure Format:  Yes ____;  No    x  .










                                   PART I

ITEM 1. DESCRIPTION OF BUSINESS

GENERAL

     Resources Accrued Mortgage Investors 2, L.P. (the "Registrant"), formerly
Resources Accrued Mortgage Investors L.P.  Series 87 and Resources Accrued
Mortgage Investors L.P. Series 88, was organized as a Delaware limited
partnership on August 14, 1986.  Until January 1, 2002, the general partners of
the Registrant were RAM Funding, Inc. ("RAM Funding") and Presidio AGP Corp.
("Presidio AGP").  Effective January 1, 2002, the managing general partner
interest and the associate general partner interest were acquired by Maxum LLC,
a Nevada limited liability company (the "General Partner").  See "Change in
Control" below.

     In 1988, the Registrant sold, pursuant to a registration statement filed
with the Securities and Exchange Commission, 187,919 units of limited
partnership interest (the "Units") for gross proceeds aggregating $46,979,750.
Pursuant to the terms of the Registrant's partnership agreement, any
subscription proceeds not invested by April 12, 1990 were required to be
returned to the investors. At April 12, 1990, the Registrant had not invested
$18,405,847 of the original gross proceeds. Accordingly, such amount was
returned to the investors.

     The principal business of the Registrant is and has been to invest
primarily in "zero coupon" first and junior mortgage loans ("Mortgage Loans")
on properties owned or acquired principally by privately and publicly
syndicated limited partnerships. See "Investments of Registrant" below.

CHANGE IN CONTROL

     As of January 1, 2002, the General Partner acquired both the managing
general partner interest and the associate general partner interest in the
Registrant from RAM Funding and Presidio AGP, respectively, pursuant to the
General and Limited Partner Interest Assignment Agreement (the "Assignment
Agreement"), dated as of October 10, 2001, between the General Partner, Western
Real Estate Investments, LLC, a Delaware limited liability company and an
affiliate of the General Partner ("Western"), RAM Funding and Presidio AGP as
well as Presidio Capital Investment Company LLC, Presidio Partnership II Corp.
and Bighorn Associates LLC, each of which is affiliated with RAM Funding and
Presidio AGP Corp. and was a limited partner of the Registrant prior to January
1, 2002 (the "Former LPs").  Also pursuant to the Assignment Agreement, as of
January 1, 2002, Western purchased all of the Units owned by the Former LPs
("Former LP Units").

     As a result of the transactions described above, the General Partner owns
100% of the general partner interests in the Registrant and Western
beneficially owns approximately 36.3% of the outstanding Units on the date
hereof.  Further, as of January 1, 2002, an affiliate of the General Partner
was appointed as the managing agent at the Sierra Property (as hereinafter
defined).  See "Item 5. Market for Common Equity and Related Stockholder
Matters" for information relating to the distribution made by the Registrant
upon completion of this transaction.

     Pursuant to the Agreement, RAM Funding has been admitted as a non-equity
special manager of the General Partner whose only right is to have the sole and
exclusive authority to settle the class action litigation involving the
Registrant (see "Item 3. Legal Proceedings"); however, RAM Funding is not
entitled to enter into any settlement agreement with respect to the class
action if the Registrant is required to make any settlement payment unless such
proposed payment by the Registrant is agreed to by the General Partner. Upon
dismissal of the class action, RAM Funding will be removed as the special
manager.



                                     -2-

     In connection with the transfer of the Registrant's general partner
interests to the General Partner, the principal executive offices of the
Registrant have been moved to 1175 W. Moana Lane, Reno, Nevada  89509, and the
Registrant's telephone number has been changed to (775) 825-3355.

     The General Partner does not believe that the transfer of the general
partner interests in the Registrant will have a material effect on the
operations of the Registrant.

MANAGEMENT/EMPLOYEES

     The registrant does not have any employees.  The business of the
Registrant is managed by the General Partner and its affiliates and agents.

     Through November 2, 1994, the original managing general partner of the
Registrant was a wholly-owned subsidiary of Integrated Resources, Inc.
("Integrated"). On November 3, 1994, as a result of the consummation of the
reorganization plan relating to Integrated's bankruptcy, indirect ownership of
the managing general partner and the then corporate general partner of the
Registrant was purchased by Presidio Capital Corp. ("Presidio"). On February
28, 1995, Presidio AGP replaced Z Square G Partners II as the associate general
partner of the Registrant. As a result, all of the former general partners
became ultimately wholly-owned by Presidio. Presidio, in turn, is controlled by
NorthStar Capital Investment Corp., a Maryland corporation ("NorthStar").
Presidio previously retained Wexford Management LLC ("Wexford") to provide
consulting and administrative services to Presidio and its affiliates,
including the former general partners and the Registrant. The agreement with
Wexford expired on May 3, 1998 at which time Presidio entered into a management
agreement with NorthStar Presidio Management Company, LLC ("NorthStar
Presidio"). Under the terms of the management agreement, NorthStar Presidio
provided the day-to-day management of Presidio and its direct and indirect
subsidiaries and affiliates.  From October 21, 1999 to December 31, 2001, these
services were provided by AP-PCC III, L.P. (the "Agent") pursuant to an
agreement with, among others, RAM Funding.  Effective January 1, 2002, these
services are being provided by affiliates of the General Partner.

INVESTMENTS OF REGISTRANT

     Registrant originally invested 100% of the non-returned portion of its net
proceeds in four Mortgage Loans in the original amount of $23,323,513,
including interest of $23,513, one of which was still outstanding at December
31, 2001.  In June 1992, the senior mortgage lender on one of the Registrant's
investments, the Promenade Loan, [name of borrower?] foreclosed on the property
securing its loan and the Registrant lost its entire investment.  During 1999,
the Registrant received proceeds in settlement of its loans to Harborista
Associates,

     L.P. and Twin Oak Plaza Associates.  As of March 1, 2002, the Registrant
had an investment in one remaining mortgage loan in the original amount of
$6,500,000 made to High Cash Partners, L.P. Commencing March 1, 2001, the
Registrant began receiving mortgage loan interest from this loan which
represented 87% of the Registrant's 2001 revenue.

     The following is a description of the status of the Registrant's remaining
loan and the description of the results with respect to the settlement of its
loans to Harborista Associates, L.P. and Twin Oak Plaza Associates:

     On February 10, 1989, the Registrant made a $6,500,000 first Mortgage Loan
(the "Sierra Loan") to High Cash Partners, L.P. (the "Sierra Borrower"), a
public limited partnership originally sponsored by Integrated.  The Sierra Loan
is secured by a shopping center commonly known as the Sierra Marketplace
located in Reno, Nevada (the "Sierra Property").  The Sierra Property consists
of approximately 233,000 square feet of net rentable area.  The shopping center
occupies 18.67 acres, consisting of two main buildings and three anchor tenant
buildings with surface parking for 1,184 automobiles.

                                     -3-

     A.  Sierra Marketplace Loan



     The total amount, including fees, allocated to the Sierra Loan from the
gross proceeds of the Registrant's offering was $7,715,134 including payment to
RAM Funding of a mortgage placement fee of $385,757.

     The Sierra Loan, which bears interest at a rate of 11.22% per annum,
compounded monthly and was scheduled to mature on February 28, 2001, at which
time a balloon payment of $24,966,653, together with additional interest (as
described below) if any, was due and payable, was modified on December 21,
2000.  One of the provisions of the Sierra Loan stated that if the sum of (i)
the principal balance of the Sierra Loan plus all other then outstanding
indebtedness secured by the Sierra Property plus (ii) all accrued and unpaid
interest in excess of 5% per annum of the principal balance of such mortgages,
exceed 85% of the current appraised value, the Sierra Borrower shall be
immediately obligated to pay such excess. In the event that such excess becomes
due, the Sierra Borrower may not have sufficient liquidity to satisfy its
obligation to Registrant. If this were to occur, Sierra Borrower could be
forced to sell the Sierra Property or seek other relief, including protection
under the bankruptcy laws.

     In 1997, RAM Funding prepared a valuation of the Sierra Property and based
on that valuation, no additional amounts were then presently due. However, as a
result of such valuation, the Sierra Borrower wrote the Sierra Property down on
its books to what its management believed to be its estimated fair market value
of $15,875,000.  RAM Funding performed its own evaluation and determined that
this estimate was a fair representation of the property value at that time.
The balance of the Sierra Loan at December 31, 1996 was approximately
$15,979,000 and the then general partners of the Registrant determined that it
was unlikely that any additional interest accrued on the Sierra Loan would
ultimately be recovered from the value of the underlying property.
Consequently, as of January 1, 1997, the Registrant ceased accruing interest on
the Sierra Loan.

     The Sierra Borrower advised the Registrant in 2000 that it believed that
the value of the Sierra Property had increased since the beginning of 1997 and
that, depending on the results of the appraisal of the Sierra Property required
to be made in connection with the modification of the Sierra Loan, the value of
the Sierra Loan may exceed the value at which the Sierra Loan was then being
carried on the Registrant's financial statements.  The Sierra Borrower also
requested that the Sierra Loan be restructured prior to its maturity (February
1, 2001).  After extensive negotiations, on December 21, 2000, the Registrant
and the Sierra Borrower agreed to modify the Sierra Loan as follows:

     1. The term of the loan was extended until February 28, 2003.

     2. The Sierra Borrower placed in escrow a deed as well as documents
     necessary to convey the Sierra Property, which documents will be
  released to the Registrant on the earlier (A) March 1, 2003, (B) at
such time as a third-party purchaser is identified to acquire the
Sierra Property or (C) at any time after March 1, 2002 if the
Registrant deems it necessary to protect its economic interest.

     3. The Sierra Borrower will pay to the Registrant to be applied towards
     the Sierra Loan all cash flow generated from the Sierra Property in
  excess of $100,000 per year.








                                     -4-

     4. The Sierra Borrower was required to have an appraisal prepared on the
     Sierra Property to determine if an excess payment, as described above,
   was due and, if such a payment is due, to make such payment.  On March
 27, 2001, the Registrant received an appraisal from the Sierra
Borrower which valued the Sierra Property at $20,000,000.  As a
result, based on current information available to the Registrant, no
excess payment is presently required.  However, the General Partner
believes that the recent valuation of the Sierra Property by the
Sierra Borrower is greater than could currently be obtained from a
third-party purchaser of the Sierra Property.

     5. The Sierra Borrower has the right to prepay the Sierra Loan by paying
     to the Registrant the sum of the then unpaid principal balance of the
  Sierra Loan together with accrued  interest and other charges due
under the Sierra Loan and 66% of the value of the Sierra Property in
excess of such amount.

     In addition, the Registrant now has significantly more input over  the
operation of the Sierra Property including, the selection of the management
company, leasing programs and capital improvements.  In this regard, an
affiliate of the Agent began providing property management services at the
Sierra Property effective March 2001 and, effective January 1, 2002, property
management services are being provided by an affiliate of the General Partner.
In light of these enhanced rights, the Registrant believes that if the Sierra
Property can be leased-up and renovated, the value of the shopping center may
be significantly enhanced resulting in a loan value in excess of the current
carrying value.

     B.  Harborista Loan

     On February 13, 1989, the Registrant made a second Mortgage Loan (the
"Harborista Loan") to Harborista Associates, L.P. (the "Harborista Borrower"),
a private limited partnership originally sponsored by Integrated.  The
Harborista Loan was secured by an office building commonly known as the Harbor
Plaza, located in Boston, Massachusetts ("Harbor Plaza"). Harbor Plaza consists
of a 13-story office building on .88 acres containing approximately 334,000
square feet of rentable space, located in the Fort Point Channel section of
downtown Boston.  Harbor Plaza was 100% leased pursuant to a master net lease
which, subject to a right of early termination by the Harborista Borrower,
expired on November 30, 1998.

     The Harborista Loan bore interest at a rate of 13.307% per annum,
compounded monthly and was originally due on December 1, 1998, at which time a
balloon payment of $36,568,146 would have been payable.

     The total amount, including fees, allocated to the Harborista Loan from
the gross proceeds of the Registrant's offering was $11,897,345 including
payment to the former managing general partner of the Registrant of a mortgage
placement fee of $594,867.

     During 1993, the then management of the Registrant determined that
interest on the Harborista Loan should cease to accrue and that an allowance
for loan losses was necessary for the entire carrying value of the Harborista
Loan which, at that time, was $10,618,380. Harbor Plaza was also encumbered by
a first mortgage loan (the "First Mortgage") in the original amount of
$24,475,000.  The First Mortgage was due to mature on December 1, 1995, but was
extended until January 1, 1999.  On February 9, 1999, the holder of the First
Mortgage filed a motion for foreclosure of the First Mortgage and a foreclosure
sale was scheduled to be held in March 1999.








                                     -5-

     During the latter part of 1998 and continuing into 1999 the Registrant
attempted to arrange for financing in order to satisfy the First Mortgage and
protect the Registrant's interest in Harbor Plaza.  The Registrant was unable
to obtain financing and, on March 29, 1999, the Registrant sold its interest in
the Harborista Loan to the holder of the First Mortgage for gross proceeds of
$1,000,000, exclusive of legal and other costs related to the transaction of
approximately $200,000.

     Following its acquisition of the Harborista Loan, the holder of the First
Mortgage foreclosed on its interests in the two mortgages and acquired Harbor
Plaza.  On March 29, 1999, the holder of the First Mortgage entered into an
agreement with Charbird Enterprises LLC ("Charbird"), an affiliate of Northstar
and the former general partners of the Registrant, for the performance of
services in connection with the marketing of Harbor Plaza.  Charbird assigned
to Northstar its right to receive a substantial portion of amounts paid under
the agreement and Northstar agreed to indemnify Charbird for any liabilities
under the agreement.  Harbor Plaza was sold in December 1999 for approximately
$50,500,000.  Charbird received a fee of $14,050,884 under the agreement,
$12,645,796 of which was paid to Northstar.  See "Item 3. Legal Proceedings."

TENDER OFFERS

     On January 17, 2001, Bighorn Associates I, LLC ("Bighorn"), an affiliate
of Presidio, commenced a tender offer to acquire up to 57,000 Units for a price
of $90 per Unit. Subsequent to Bighorn's offer, Western commenced an offer to
acquire up to 40,000 Units for a price of $97 per unit.  After a series of
amendments, both the Bighorn purchase price and the Western purchase price were
increased to $127 per Unit. On March 15, 2001, Western's offer expired and on
March 16, 2001, Bighorn's offer expired.  Based on its filings with the
Securities and Exchange

     Commission, Bighorn acquired 22,636 Units in its offer representing
approximately 12.05% of the total outstanding Units and Western acquired 6,678
Units in its offer representing approximately 3.555% of the total outstanding
Units.


ITEM 2. DESCRIPTION OF PROPERTY

     The Registrant does not own any property.  See "Item 1.  Description of
Business" for a description of the Registrant's investments in mortgage loans.


ITEM 3. LEGAL PROCEEDINGS

     On or about May 19, 2000, Dr. Warren Heller, a limited partner of the
Registrant, on behalf of himself and all others similarly situated, commenced a
putative class action and derivative lawsuit in the Delaware Chancery Court
against RAM Funding, Presidio AGP, NorthStar and Charbird, defendants, and the
Registrant, as nominal defendant, seeking, among other things, monetary damages
resulting from purported breaches of fiduciary duties and breaches of the
Registrant's partnership agreement in connection with the March 1999 sale of
the Harborista Loan and the marketing of Harbor Plaza which secured the
Harborista Loan. In addition, the action alleges breaches of fiduciary duty in
connection with the purported failure of the Registrant to distribute cash and
the purported failure of the Registrant to enforce the provisions of the Sierra
Loan.








                                     -6-

     On January 22, 2002, the parties entered into a Settlement Agreement (the
"Settlement Agreement") that (i) provides for a $9,000,000 payment by the
defendants to the Registrant and (ii) requires that the Registrant distribute
to its partners the $9,000,000 payment, less fees and expenses awarded by the
court to plaintiff's counsel (which amount is not expected to exceed
approximately 20% of the settlement amount).  The Settlement Agreement is
subject to the approval of the court.  The objection period is scheduled to
expire April 1, 2002 and a hearing on the approval of the Settlement Agreement
is scheduled for April 15, 2002.


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

     On November 1, 2001, a Consent Solicitation Statement was sent to the
limited partners of the Registrant seeking their consent to the transfer by RAM
Funding and Presidio AGP of their general partner interests in the Registrant
to the General Partner.  The transfer required the consent of more than 50% in
interest of the limited partners.  At December 21, 2001, the expiration of the
consent period, 102,864 Units had voted for the proposal, 2,649 Units had voted
against the proposal and 971 Units had abstained.  As a result, the consent was
obtained and the general partner interests in the Registrant were transferred.
See "Item 1. Description of Business-Change in Control."


                                   PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

     There is no established public trading market for the Units of the
Registrant. As of March 1, 2002, there were approximately 2,609 holders of
Units owning an aggregate of 187,919 Units (including Units held by affiliates
of the General Partner).

     There are no material legal restrictions set forth in the Registrant's
partnership agreement upon the Registrant's present or future ability to make
distributions.  No distributions were made in 1999 or 2000.  In December 2001,
a distribution of $4,720,525 ($25.12 per Unit) was made to the limited partners
from the Registrant's reserves.


ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

     Certain statements in this "Management's Discussion and Analysis or Plan
of Operation" and elsewhere in this annual report on Form 10-KSB constitute
forward-looking statements.  These forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the Registrant's
actual results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by these
forward-looking statements.  These factors include, among other things,
economic conditions; governmental regulations; operating and financing risks
with respect to the Sierra Property; variations in real estate values in the
Reno area; the failure of the Sierra Property to perform in accordance with
expectations; and other risks described in our filings with the Securities and
Exchange Commission.  These forward-looking statements reflect management's
judgment as of this date, and we assume no obligation to revise or update them
to reflect future events or circumstances.










                                     -7-

LIQUIDITY AND CAPITAL RESOURCES

    Through December 31, 2001, the managing general partner of the Registrant
was RAM Funding and the associate general partner was Presidio AGP, which are
wholly-owned subsidiaries of Presidio.  Effective January 1, 2002, pursuant to
the Assignment Agreement, the managing general partner interest and the
associate general partner interest in the Registrant were acquired by the
General Partner. The General Partner does not believe that this transaction
will have a material effect on the operations of the Registrant.

     The Registrant initially invested the net proceeds of its public offering
in four zero coupon first and junior mortgage loans aggregating $23,300,000.
These loans were secured by properties owned principally by privately and
publicly syndicated limited partnerships originally sponsored by affiliates of
the former general partners. The Registrant currently retains an investment in
one of the original four mortgage loans, which had an initial principal balance
of approximately $6,500,000.  During the first quarter of 1997, the obligor
under the Registrant's remaining mortgage loan wrote the property down to what
its management believed to be its estimated fair market value of $15,875,000.
Former management of the Registrant performed its own evaluation at that time
and determined that this amount was a fair estimate of the property value.  The
outstanding balance of the loan at December 31, 1996 was approximately
$15,979,000 and the former general partners determined that it was unlikely
that any additional interest accrued on the Sierra Loan would ultimately be
recovered from the value of the underlying property.  Consequently, as of
January 1, 1997 the Registrant ceased accruing interest on the loan.  At
December 31, 2001, the contractual balance of principal and accrued interest on
the Sierra Loan was $26,062,593 and the Registrant reflected a carrying value
in this loan of $15,979,355.

     The Sierra Loan contains a provision which requires the Sierra Borrower to
provide a current appraisal of the Sierra Property based upon certain
conditions or, in some cases, upon request.  If an appraisal indicates the
value of all indebtedness senior to and including the Sierra Loan, taking into
account principal plus accrued interest in excess of 5% per annum, exceeds 85%
of the then current appraisal of the Sierra Property, the Sierra Borrower must
repay the indebtedness to a point where a 85% loan to value ratio is restored.

In December 2000, the Registrant and the Sierra Borrower agreed to modify the
Sierra Loan as follows:

     1. The term of the Sierra Loan was extended until February 28, 2003.

     2. The Sierra Borrower placed in escrow a deed as well as documents
     necessary to convey the Sierra Property, which documents will be
  released to the Registrant on the earlier (A) March 1, 2003, (B) at
such time as a third-party purchaser is identified to acquire the
Sierra Property or (C) at any time after March 1, 2002 if the
Registrant deems it necessary to protect its economic interest.

     3. The Sierra Borrower will pay to the Registrant, to be applied towards
     the Sierra Loan, all cash flow generated from the Sierra Property in
  excess of $100,000 per year.

     4. The Sierra Borrower was required to have an appraisal prepared on the
     Sierra Property to determine if an excess payment was due and, if such
   a payment was due, to  make such payment. On March 27, 2001, the
Registrant received an appraisal from the Sierra Borrower which valued
the Sierra Property at $20,000,000. As a result, based on current
information available to the Partnership, no excess payment is
presently required.  However, the General Partner believes that the
recent valuation of the Sierra Property by the Sierra Borrower is
greater than could currently be obtained from a third-party purchaser
of the Sierra Property.



                                     -8-

     5. The Sierra Borrower has the right to prepay the Sierra Loan by paying
     to the Registrant the sum of the then unpaid principal balance of the
  Sierra Loan together with accrued  interest and other charges due
under the loan and 66% of the value of the Sierra Property in excess
of such amount.

     During the year ended December 31, 2001, the Registrant received
$1,283,920 in excess cash flow from the Sierra Borrower, which has been applied
against the outstanding contractual principal balance of the Sierra Loan.  See
"Item 7. Financial Statements - Note 4."

     The Registrant's level of liquidity based on cash and cash equivalents
decreased by $3,588,134 to $754,136 during the year ended December 31, 2001 as
compared to December 31, 2000.  The decrease was due to the distribution to
partners of $4,841,575 in cash (financing activity), which was partially offset
by $1,253,441 of net cash provided by operating activities.  Cash and cash
equivalents are invested in short-term instruments and are expected to be
sufficient to pay administrative expenses during the term of the Registrant. As
of December 31, 2001, the Registrant had approximately $628,000 invested in
money market accounts which is included in cash and cash equivalents. If the
proposed settlement of the class action litigation is consummated as currently
contemplated by the Settlement Agreement, it is anticipated that the Registrant
will make a distribution to its partners, as well as other members of the
plaintiffs class, upon consummation of such settlement, in an amount not less
than $7,200,000 in the aggregate.  See "Item 7. Financial Statements - Note 6."
Except for the distribution of the proceeds from the settlement, the Registrant
does not anticipate making any other distributions of net cash provided by
operating activities in the near future.

     During 2001, the Registrant distributed $4,841,575 of which the limited
partners received $4,720,525 or $25.12 per Unit.  Affiliates of both Presidio
and the General Partner received approximately $1,449,000 and $261,000,
respectively, of the distribution made to the limited partners.

     The Registrant uses working capital reserves provided from the proceeds of
its public offering and subsequent settlement amounts, and interest earned
thereon, as its primary measure of liquidity.  The Registrant did not
anticipate making any distributions from cash flow during its first 8 to 12
years of operations, or until such time as the mortgage loans matured or were
prepaid.

REAL ESTATE MARKET

     There has been substantial development of retail space in the Reno area
over the past few years especially in close vicinity to the Sierra Property. In
the past few years, the Sierra Property has lost two of its original anchor
tenants and has not been able to locate new anchor tenants with similar lease
terms; one of the spaces is currently being leased at a substantially reduced
rental rate.  The second space is currently being subleased by the original
lessor at a substantial discount to a tenant until November 30, 2003, the date
at which the lease expires.  The remaining anchor tenant's original lease
expires in August 2008.  Management does not currently expect this tenant to
exercise its renewal option at that time.  The Registrant's potential for
realizing the full value of its investment in Sierra Property is currently
considered unlikely.

     Inflation has not had a material effect on the Registrant's recent
operations or financial condition and is not expected to have a material effect
in the future.








                                     -9-

RESULTS OF OPERATIONS

2001 as Compared to 2000

     Net income increased by $1,111,068 to $1,186,609 for the year ended
December 31, 2001 as compared to 2000, due to an increases in revenues.
Revenues increased by $1,225,691 to $1,477,860 for the year ended December 31,
2001 as compared to the same period in 2000 due to increases in mortgage loan
interest income and other income, which were partially offset by a decrease in
short-term investment interest due to a decline in interest rates.  Interest
income on mortgage loans increased starting March 1, 2001 because excess cash
flows from the Sierra Property were paid to the Partnership in the form of
interest payments due to the modification of certain of the terms of the Sierra
Loan.

     Costs and expenses increased for the year ended December 31, 2001 as
compared to the same period in the prior year, due to an increase in
professional fees related to the Assignment Agreement and the subsequent
consent solicitation.
















































                                    -10-

ITEM 7.  FINANCIAL STATEMENTS


                         INDEPENDENT AUDITORS' REPORT


TO THE PARTNERS
RESOURCES ACCRUED MORTGAGE INVESTORS 2, L.P.:


     We have audited the accompanying balance sheets of Resources Accrued
Mortgage Investors 2, L.P. (a limited partnership) (the "Partnership") as of
December 31, 2001 and 2000, and the related statements of operations, partners'
equity and cash flows for the years then ended.  These financial statements are
the responsibility of the Partnership's management. Our responsibility is to
express an opinion on these financial statements based on our audits.

     We conducted our audits in accordance with auditing standards generally
accepted in the United States of America. Those standards require that we plan
and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

     In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Resources Accrued Mortgage
Investors 2, L.P. (a limited partnership) as of December 31, 2001 and 2000, and
the results of its operations and cash flows for the years then ended in
conformity with accounting principles generally accepted in the United States
of America.




                                           /s/ Imowitz Koenig & Co., LLP



New York, New York
February 4, 2002























                                    -11-

                  RESOURCES ACCRUED MORTGAGE INVESTORS 2, L.P.
                                 BALANCE SHEETS


<TABLE>
<CAPTION>
                                                       December 31,
                                               -------------------------
                                                   2001         2000
                                               ------------ ------------
<S>                                          <C>           <C>
ASSETS

  Investment in mortgage loan.................$ 15,979,355  $ 15,979,355
  Cash and cash equivalents...................     754,136     4,342,270
                                               ------------  -----------
     Total assets.............................$ 16,733,491  $ 20,321,625
                                               ------------  -----------

LIABILITIES AND PARTNERS' EQUITY

  Liabilities

    Accounts Payable and accrued expenses.....     124,147        57,315
                                                -----------  -----------
  Total Liabilities...........................$    124,147  $     57,315
                                                -----------  -----------

  Commitments and contingencies

    Partners' equity

    Limited partners' equity (187,919 units)
     issued outstanding.......................  16,194,146    19,757,727
    General partners' equity..................     415,198       506,583
                                               -----------   -----------
  Total partners' equity......................  16,609,344    20,264,310
                                               ------------  -----------
     Total liabilities and partners' equity...$ 16,733,491  $ 20,321,625
                                               ============  ===========
</TABLE>



The accompanying Notes to Financial Statements are an integral part of these
statements.





















                                    -12-

                 RESOURCES ACCRUED MORTGAGE INVESTORS 2, L.P.
                           STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                          Years ended December 31,
                                         ---------------------------
                                              2001           2000
                                         ------------   ------------
<S>                                      <C>            <C>
Revenues
  Mortgage Loan Interest Income......... $  1,283,920   $          -
  Short Term Investment Interest........      174,790        252,169
  Other Income..........................       19,150              -
                                         ------------   ------------
     Net revenues.......................    1,477,860        252,169
                                         ------------   ------------
Costs and Expenses

  General and Administrative............      291,251        176,628
                                         ------------   ------------
     Total Costs and Expenses...........      291,251        176,628
                                         ------------   ------------
     Net income (loss).................. $  1,186,609   $     75,541
                                         ============   ============

Net income attributable to:

     Limited partners................... $  1,156,944   $     73,652

     General partners................... $     29,665   $      1,889
                                         ------------   ------------
                                         $  1,186,609   $     75,541
                                         ============   ============


NET INCOME PER UNIT OF LIMITED PARTNERSHIP
    INTEREST (187,919 UNITS OUTSTANDING)
     Basic.............................. $       6.16   $       0.39
                                         ============   ============
</TABLE>



The accompanying Notes to Financial Statements are an integral part of these
statements.





















                                    -13-

                RESOURCES ACCRUED MORTGAGE INVESTORS 2, L.P.
                      STATEMENTS OF PARTNERS' EQUITY

<TABLE>
<CAPTION>
                               Limited         General          Total
                              Partners'       Partners'        Partners'
                                Equity         Equity           Equity
                           --------------   --------------   -----------
<S>                        <C>              <C>              <C>
Balance, January 1, 2000   $ 19,684,075     $    504,694     $20,188,769
  Net income..............       73,652            1,889          75,541
                           --------------   --------------   -----------
Balance, December 31, 2000   19,757,727          506,583      20,264,310
  Net income..............    1,156,944           29,665       1,186,609

  Distribution to partners   (4,720,525)        (121,050)    (4,841,575)
                           --------------   --------------   -----------
Balance, December 31, 2001 $ 16,194,146     $    415,198     $16,609,344
                           ==============   ==============   ===========
</TABLE>


The accompanying Notes to Financial Statements are an integral part of these
statements.










































                                    -14-

                RESOURCES ACCRUED MORTGAGE INVESTORS 2, L.P.
                          STATEMENTS OF CASH FLOWS



<TABLE>
<CAPTION>
                                                Years ended December 31,
                                                ------------------------
                                                   2001         2000
                                                ------------ -----------
<S>                                             <C>          <C>
Cash flows from operating activities:
  Net income ..................................  $  1,186,60  $   75,541
  Changes in operating assets and liabilities:
    Other receivables..........................            -      32,525
    Accounts payable and accrued expenses......       66,832    (42,639)
                                                ------------ -----------
    Net cash provided by
      operating activities.....................    1,253,441      65,427
                                                ------------ -----------

Cash flows from financing activities:
  Distribution to partners.....................   (4,841,575)          -
                                                ------------ -----------
     Net cash used in financing activities.....   (4,841,575)          -
                                                ------------ -----------

Net increase (decrease) in cash..............     (3,588,134)     65,427

Cash and cash equivalents, beginning of period.    4,342,270   4,276,843
                                                ------------ -----------
Cash and cash equivalents, end of period.......  $   754,136 $ 4,342,270
                                                ============ ===========

</TABLE>



The accompanying Notes to Financial Statements are an integral part of these
statements.


























                                    -15-

RESOURCES ACCRUED MORTGAGE INVESTORS 2, L.P.
NOTES TO FINANCIAL STATEMENTS


NOTE 1. ORGANIZATION

     Resources Accrued Mortgage Investors 2, L.P. (formerly Resources Accrued
Mortgage Investors L.P.  Series 87 and Resources Accrued Mortgage Investors
Series 88), a Delaware limited partnership (the "Partnership"), was formed in
August 1986 under the Delaware Revised Uniform Limited Partnership Law for the
purpose of investing primarily in senior and junior accrued interest mortgage
loans on properties owned or acquired principally by publicly or privately
syndicated limited partnerships sponsored by affiliates of Integrated
Resources, Inc. ("Integrated"). During 1994, Integrated's indirect ownership of
the managing general partner was purchased by Presidio Capital Corp.
("Presidio").  Through December 31, 2001, the managing general partner of the
Partnership was RAM Funding, Inc. and the associate general partner was
Presidio AGP Corp., which are wholly-owned subsidiaries of Presidio. Effective
January 1, 2002, pursuant to the General and Limited Partner Interest
Assignment Agreement (the "Assignment Agreement"), the managing general partner
and associate general partner interests' in the Partnership were acquired by
Maxum LLC ("Maxum" or the "General Partner").  The General Partner does not
believe that this transaction will have a material effect on the operations of
the Partnership.

     The Partnership originally offered 400,000 units of limited partnership
interest (the "Units") pursuant to the Prospectus dated April 12, 1988 (the
"Prospectus"). Since all gross proceeds that were raised had not been invested
or committed for investment, the Partnership was obligated, under the terms of
the Prospectus, to return such uninvested funds.  The Partnership distributed
these funds in the amount of $19,263,445, including interest of $857,598, in
August 1990.  Additionally, the Partnership made a second related distribution
of $606,978 on October 30, 1990.

     From October 21, 1999 through December 31, 2001, Presidio had entered into
a Services Agreement with AP-PCC III, L.P. (the "Agent") pursuant to which the
Agent was retained and was compensated by Presidio to provide asset management
and investor relation services to the Partnership and other entities affiliated
with the Partnership. Effective January 1, 2002, these services are being
provided by affiliates of the General Partner.

     In accordance with the Partnership's Agreement of Limited Partnership (the
"Partnership Agreement"), net income and loss, adjusted cash from operations
and disposition proceeds are allocated 97.5% to the limited partners and 2.5%
to the General Partners.


NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Investment in mortgage loans

     The Partnership principally invested in zero coupon senior and junior
mortgage loans on properties owned or acquired by limited partnerships
originally sponsored by affiliates of Integrated.  These loans generally
contain provisions whereby the Partnership may be entitled to additional
interest represented by participation in the appreciation of the underlying
property.










                                    -16-

     The Partnership accounts for its investments in mortgage loans under the
following methods:

Investment Method

     Mortgage loans representing transactions in which the Partnership is
considered to have substantially the same risks and potential rewards as the
borrower are accounted for as investments in real estate rather than as loans.
Although the transactions are structured as loans, due to the terms of the zero
coupon mortgage, it is not readily determinable at inception that the borrower
will continue to maintain a minimum investment in the property.  Under the
method of accounting, the Partnership will recognize as revenue the lesser of
the amount of interest as contractually provided for in the mortgage loan, or
its pro rata share of the actual cash flow from operations of the underlying
property inclusive of depreciation and interest expense on any senior
indebtedness.

Interest Method

     Under this method of accounting, the Partnership recognizes revenue as
interest income over the term of the mortgage loan so as to produce a constant
periodic rate of return.  Interest income will not be recognized as revenue
during periods where there are concerns about the ultimate realization of the
interest or loan principal.

Allowance for Loan Losses

     An allowance for loan losses is established based upon a periodic review
of each of the mortgage loans in the Partnership's portfolio.  In performing
this review, management considers the estimated net realizable value of the
mortgage loan or collateral as well as other factors, such as the current
occupancy, the amount and status of any senior debt, the prospects for the
property and the economic situation in the region where the property is
located.  Because this determination of net realizable value is based upon
projections of future economic events which are inherently subjective, the
amounts ultimately realized at disposition may differ materially from the
carrying value at each year end.

     The allowance is inherently subjective and is based upon management's best
estimate of current conditions and assumptions about expected future
conditions.  The Partnership may provide for additional losses in subsequent
periods and such provisions could be material.

Cash and Cash Equivalents

     For the purpose of the statements of cash flows, the Partnership considers
all short-term investments which have original maturities of three months or
less to be cash equivalents.  Substantially all of the Partnership's cash and
cash equivalents are held at one financial institution.

Fair Value of Financial Instruments

     The fair value of financial instruments is determined by reference to
market data and other valuation techniques as appropriate.  The Partnership's
financial instruments include cash and cash equivalents and an investment in a
mortgage loan.  Unless otherwise disclosed, the fair value of financial
instruments approximates their recorded value.

Net Income Per Unit of Limited Partnership Interest

     Net income per unit of limited partnership interest is computed based upon
the number of units outstanding (187,919) during the year.





                                    -17-

Income Taxes

     No provisions have been made for federal, state and local income taxes,
since they are the personal responsibility of the partners.

     The income tax returns of the Partnership are subject to examination by
federal, state and local taxing authorities.  Such examinations could result in
adjustments to Partnership income, which changes could affect the tax liability
of the individual partners.

Estimates

     The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amount of
assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenues and
expenses during the reporting period.  Actual results could differ from those
estimates.

Recently Issued Accounting Standards

     The Financial Accounting Standards Board ("FASB") issued SFAS No. 133,
"Accounting for Derivative Instruments and Hedging Activities" and SFAS No.
138, "Accounting for Certain Derivative Instruments and Certain Hedging
Activities - an amendment of SFAS No. 133".  These statements require companies
to recognize all derivatives on the balance sheet as assets or liabilities,
measured at fair value. Gains or losses resulting from changes in the values of
those derivatives would be accounted for depending on the use of the derivative
and whether they qualify for hedge accounting.  These statements were effective
for fiscal years beginning after June 15, 2000.  There was no effect from these
statements on the Partnership's financial statements.

     In July 2001, the FASB issued SFAS No. 141 "Business Combinations".  SFAS
No. 141 requires that all business combinations be accounted for under the
purchase method of accounting.  SFAS No. 141 also changes the criteria for the
separate recognition of intangible assets acquired in a business combination.
SFAS No. 141 is effective for all business combinations initiated after June
30, 2001. This statement will not effect the Partnership's financial
statements.

     In July 2001, the FASB issued SFAS No. 142 "Goodwill and Other Intangible
Assets". SFAS No. 142 addresses accounting and reporting for intangible assets
acquired, except for those acquired in a business combination.  SFAS No. 142
presumes that goodwill and certain intangible assets have indefinite useful
lives.  Accordingly, goodwill and certain intangibles will not be amortized but
rather will be tested at least annually for impairment.  SFAS No. 142 also
addresses accounting and reporting for goodwill and other intangible assets
subsequent to their acquisition.  SFAS No. 142 is effective for fiscal years
beginning after December 15, 2001.  This statement will not have a material
effect on the Partnership's financial statements.

     In August 2001, the FASB issued SFAS No. 144, "Accounting for the
Impairment or Disposal of Long-Lived Assets," which addresses financial
accounting and reporting for the impairment or disposal of long-lived assets.
This statement supersedes SFAS No. 121, "Accounting for the Impairment of Long-
Lived Assets and for Long-Lived Assets to be Disposed Of" and the accounting
and reporting provisions of APB Opinion No. 30, "Reporting the Results of
Operations - Reporting the Effects of a Disposal of a Business and
Extraordinary, Unusual and Infrequently Occurring Events and Transactions," for
the disposal of a segment of a business. This Statement also amends ARB No. 51,
"Consolidated Financial Statements," to eliminate the exception to
consolidation for a subsidiary for which control is likely to be temporary.


                                    -18-

SFAS No. 144 is effective for fiscal years beginning after December 15, 2001,
and interim periods within those fiscal years. The provisions of this Statement
generally are to be applied prospectively. The Partnership has not evaluated
the effect of this statement, however, it is not expected that this statement
will have a material effect on the Partnership's results of operations.


NOTE 3. CONFLICTS OF INTEREST AND TRANSACTIONS WITH RELATED PARTIES

     As of December 31, 2001, affiliates of both Presidio and Maxum had
acquired 57,695 and 10,389 units, respectively, of limited partnership interest
of the Partnership. Effective January 1, 2002, in accordance with the
Assignment Agreement, the units previously held by affiliates of Presidio were
acquired by affiliates of Maxum.  Accordingly, affiliates of Maxum own 68,084
units, which represent 36.3% of the issued and outstanding limited partnership
units of the Partnership.

     For the year ended December 31, 2001, RAM Funding, Inc. and Presidio AGP
Corp. received $118,629 and $2,421, respectively, in distributions.  No
distributions were made for the year ended December 31, 2000.

     During the year ended December 31, 2001, affiliates of both Presidio and
Maxum received approximately $1,449,000 and $261,000, respectively, of the
distribution made to the limited partners.


NOTE 4. INVESTMENTS IN MORTGAGE LOAN AND ALLOWANCE FOR LOAN LOSSES

     The Partnership invested in zero-coupon, nonrecourse senior and junior
mortgage loans.  Collection of the amounts due on the Partnership's mortgage
loans is solely dependent upon the sale or refinancing of the underlying
properties at amounts sufficient to satisfy the Partnership's mortgage notes
after payment of the senior mortgage notes owned by unaffiliated third parties.

     The Partnership currently has one outstanding mortgage loan.

     The Partnership's mortgage note contains a provision which requires the
borrower to provide current appraisals based upon certain conditions or in some
cases upon request.

     While there are risks inherent in a zero-coupon nonrecourse senior or
junior mortgage loan portfolio, the above described provisions were intended to
provide some mitigation of these risks.  However, in the event a borrower is
required to make a payment under such loan provisions, there can be no
assurance that the borrower will be able to make such payments.

Sierra Loan

     A $6,500,000 first mortgage loan to High Cash Partners, L.P. ("High Cash")
is secured by a shopping center located in Reno, Nevada.  Interest on the loan
accrues at the rate of 11.22% per annum with no payments due until maturity on
February 28, 2001 (see below).

     During the first quarter of 1997, High Cash wrote the property down to
what its management believed to be its estimated fair market value of
$15,875,000.  Management of the Partnership performed its own evaluation at
that time and determined that this amount was a fair estimate of the property
value.  The outstanding balance of the loan at December 31, 1996 was
approximately $15,979,000 and it was unlikely that any additional interest
accrued on the Sierra loan would ultimately be recovered from the value of the
underlying property.  Consequently, as of January 1, 1997 the Partnership
ceased accruing interest on the Sierra loan.



                                    -19-

     On June 13, 1997, the general partners of High Cash, who were formerly
affiliated with the former general partners, sold their general partner
interest to Pembroke HCP LLC and Pembroke AGP Corp., unaffiliated third
parties.

     In December 2000, the Partnership and High Cash agreed on an extension to
the loan as follows:

     1. To extend the term of the loan until February 28, 2003.

     2. The borrower placed in escrow a deed as well as documents necessary to
      convey the property, which documents will be released to the
   Partnership on the earlier (A) March 1, 2003, (B) at such time as a
third-party purchaser is identified to acquire the Sierra property or
(C) at any time after March 1, 2002 if the Partnership deems it
necessary to protect its economic interest.

     3. The borrower will pay to the Partnership, to be applied towards the
     Sierra loan, all cash flow generated from the property in excess of
  $100,000 per year.

     4. The borrower was to have an appraisal prepared on the Sierra property
     to determine if an excess payment was due and, if such a payment was
  due, to  make such payment. On March 27, 2001, the Registrant received
an appraisal from the borrower which valued the Sierra property at
$20,000,000. As a result, based on current information available to
the Partnership, no excess payment is presently required.

     5. The borrower had the right to prepay the loan after the initial
     maturity date (February 2001) by paying to the Partnership the sum of
  the then unpaid principal balance of the loan together with accrued
interest and other charges due under the loan and 66% of the value of
the Sierra property in excess of such amount.

     In addition, the Partnership now has significantly more input over the
operation of the Sierra property including, the selection of the management
company, leasing programs and capital improvements.  In this regard, an
affiliate of the Agent began providing property management services at the
Sierra property effective March 2001 and, effective February 1, 2002, property
management services are being provided by an affiliate of the General Partner.

     During the year ended December 31, 2001, the Partnership had received
$1,283,920 in excess cash flow, which has been applied against the outstanding
contractual principal balance.

Harborista Loan

     A $10,000,000 second mortgage loan (the "Harborista Loan") to Harborista
Associates, L.P. was secured by an office building, commonly known as the
Harbor Plaza, located in Boston, Massachusetts (the "Harbor Plaza"). The
Harborista Loan was funded on February 13, 1989 and bore interest at the rate
of 13.307% per annum, compounded monthly and was originally due to mature on
December 1, 1998, at which time a balloon payment of approximately $36,000,000
would have been due and payable.  Harbor Plaza was also encumbered by a first
mortgage loan in the original amount of $24,475,000 held by Northwestern Mutual
Life Insurance Co. ("Northwestern").  The first mortgage was due to mature on
December 1, 1995, but was extended until January 1, 1999.

     During 1993, management determined that interest on the Harborista Loan
should cease to accrue and that an allowance for loan losses was necessary for
the entire carrying value of the Harborista Loan which amounted to $10,618,380.





                                    -20-

     On February 9, 1999, 470 Atlantic Avenue Management Corp. ("470
Atlantic"), which had acquired Northwestern's first mortgage loan, filed a
motion for foreclosure on its mortgage.

     On March 30, 1999, the Partnership sold its interest in the Harborista
Loan to 470 Atlantic for gross proceeds of $1,000,000, exclusive of legal and
other costs related to the transaction of $200,000.  Accordingly, the
Partnership recorded $800,000 of recovery of loan losses with respect to the
sale of this loan as of December 31, 1998.

     Following its acquisition of the Harborista Loan, 470 Atlantic foreclosed
on its interests in the two mortgages and acquired Harbor Plaza.  On March 29,
1999, 470 Atlantic entered into an agreement with Charbird Enterprises LLC
("Charbird"), an affiliate of NorthStar Capital Investment Corp. ("Northstar"),
an entity that indirectly controls Presidio, and the former general partners,
for the performance of services in connection with the marketing of Harbor
Plaza. Charbird assigned to NorthStar its right to receive a substantial
portion of amounts paid under the agreement and NorthStar agreed to indemnify
Charbird for any liabilities under the agreement.  Harbor Plaza was sold in
December 1999 for approximately $50,500,000.  Charbird received a fee of
$14,050,884 under the agreement, $12,645,796 of which was paid to NorthStar
(see Note 6).

     A summary of mortgage activity is as follows:

<TABLE>
<CAPTION>

                               Investment      Interest
                                 Method         Method         Total
                             -------------------------------------------
<S>                          <C>            <C>             <C>
Balance, December 31, 1999... $         -    $  15,979,355   $15,979,355
  Interest recognized........           -              -             -
                             -------------- -------------- -------------
Balance, December 31, 2000...           -       15,979,355    15,979,355
  Interest recognized........           -              -             -
                             -------------- -------------- -------------
Balance, December 31, 2001... $         -    $  15,979,355   $15,979,355
</TABLE>



























                                    -21-

     Information with respect to the Partnership's mortgage loan is as follows:

<TABLE>
<CAPTION>
                                                           Original  Mortgage    Mortgage    Mortgage
                        Interest  Compound        Loan     Maturity  Amount      Purchased   Placement
                        Rate %    Period   Type   Date     Date      Advanced    Interest    Fees
<S>                    <C>       <C>      <C>    <C>      <C>       <C>         <C>         <C>
Description             --------  -------- -----  -------  --------  ----------  ----------  ---------
Shopping Center
Sierra Marketplace
  Reno, Nevada          11.220    Monthly  1st    2/10/89  2/28/01   $6,500,000  $        -  $ 385,757
                                                                     ==========  ==========  =========
</TABLE>

<TABLE>
<CAPTION>
                   Interest Recognized                                 Carrying Value            Contractual balance
                ---------------------------                       -------------------------   -------------------------
                  December 31,   2000 and     Reserves/           December 31,  December 31,  December 31,  December 31,
                     2001         Prior      Write-offs  Proceeds     2001         2000           2001          2000
                 ------------ ------------   ----------  -------- ------------  ------------  ------------  ------------
<S>             <C>          <C>            <C>         <C>      <C>           <C>           <C>           <C>
Shopping Center
Marketplace
  Reno, Nevada   $1,283,920   $9,093,598      $      -   $     -   $15,979,355   $15,979,355   $26,062,593   $24,506,244
                 ==========   ==========      ========   =======   ===========   ===========   ===========   ===========
</TABLE>


NOTE 5. RECONCILIATION OF NET INCOME AND NET ASSETS PER FINANCIAL STATEMENTS TO
TAX BASIS

     A reconciliation of net income per financial statements to the tax basis
of accounting is as follows:

<TABLE>
<CAPTION>
                                         Year ended December 31,
                                       --------------------------
                                            2001         2000
                                       ------------- ------------
<S>                                    <C>           <C>
Net income per financial statements     $ 1,186,609   $    75,541
Interest income recognized for tax
 purposes in excess of amounts
 recognized for financial statements      1,480,417     2,516,630
                                       ------------- ------------
Net income per tax basis                  2,667,026     2,592,171
                                       ============= ============
</TABLE>








                                    -22-

     The differences between the Partnership's net assets per financial
statements and tax basis of accounting are as follows:

<TABLE>
<CAPTION>
                                         Year ended December 31,
                                       --------------------------
                                            2001         2000
                                       ------------- ------------
<S>                                    <C>          <C>
Net assets per financial statements     $ 16,609,344 $ 20,264,310
Interest income recognized for tax
 purposes in excess of amounts
 recognized for financial statements      10,005,419    8,525,002
Syndication costs                          2,230,944    2,230,944
                                       ------------- ------------
Net assets per tax basis                $ 28,845,707 $ 31,020,256
                                       ============= ============
</TABLE>


NOTE 6. LITIGATION

     Dr. Warren Heller, on behalf of himself and all others similarly situated,
v. RAM Funding Inc., Presidio AGP Corp., NorthStar Capital Investment Corp. and
Charbird Enterprises, LLC, defendants, and Resources Accrued Mortgage Investors
2, L.P., as nominal defendant,  Court of Chancery, New Castle County, Delaware
(Case No. 18059).  On or about May 19, 2000, Dr. Warren Heller, a limited
partner, commenced a punitive class action and derivative lawsuit in the
Delaware Chancery Court seeking, among other things, monetary damages resulting
from purported breaches of fiduciary duties and breaches of the Partnership's
partnership agreement in connection with the March 1999 sale of the Harborista
loan and the marketing of the property which secured the Harborista loan.  In
addition, the action alleges breaches of fiduciary duty in connection with the
purported failure of the Partnership to distribute cash and the purported
failure of the Partnership to enforce the provisions of the loan secured by the
Reno, Nevada property.

     On January 22, 2002, the parties entered into a settlement agreement (the
Settlement Agreement) that (i) provides for a $9,000,000 payment by the
defendants to the Registrant and (ii) requires that the Registrant distribute
to its partners the $9,000,000 payment, less fees and expenses awarded by the
court to plaintiff's counsel (which amount is not expected to exceed
approximately 20% of the settlement amount).  The Settlement Agreement is
subject to the approval of the court.  The objection period is scheduled to
expire April 1, 2002 and a hearing on the approval of the Settlement Agreement
is scheduled for April 15, 2002.


ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
     FINANCIAL DISCLOSURE

     None.










                                    -23-

                                   PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
     COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

     The Registrant has no officers or directors.  The General Partner manages
and controls substantially all of Registrant's affairs and has general
responsibility and ultimate authority in all matters affecting its business.
Mr. Ben Farahi is the sole manager of the General Partner and, as such,
exercises the powers associated with the board of directors and executive
officers of a corporation

     Mr. Farahi, age 49, is Co-Chairman of the Board, Chief Financial Officer,
Secretary, and Treasurer of Golden Road Motor Inn, Inc. ("Golden Road"), a
Nevada company which owns and operates the tropically themed Atlantis Hotel
Casino in Reno, Nevada. Mr. Farahi is a partner in Farahi Investment Company
which is involved in real estate investment and development. Mr. Farahi is also
the manager of the General Partner, a Nevada limited liability company. Mr.
Farahi holds a mechanical engineering degree from the University of California
at Berkeley and a MBA degree in accounting from the California State
University, Hayward.


ITEM 10. EXECUTIVE COMPENSATION

     The Registrant is not required to and did not pay remuneration to the
officers and directors of RAM Funding or the general partners of Presidio AGP.
Certain officers and directors of RAM Funding received compensation from
affiliates of RAM Funding and/or its affiliates (but not from the Registrant)
for services performed for various affiliated entities, which may have included
services performed for the Registrant.  See "Item 13. Certain Relationships and
Related Transactions."


ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
      AND RELATED STOCKHOLDER MATTERS

     (a)  Security Ownership of Certain Beneficial Owners.

     Except as set forth below, no person or group is known by the Registrant
to be the beneficial owner of more than 5% of the outstanding Units at March 1,
2002:

<TABLE>
<CAPTION>
                                           Number of         % of
Name of Benefit Owner                      Units Owned       Class
------------------------------------------------------------------
<S>                                       <C>               <C>
Western Real Estate Investments, LLC(1)    68,084            36.2%
Farahi Investment Company LLC(2)           68,084(3)         36.2%
Ben Farahi(4)                              68,128(5)         36.3%
John Farahi(6)                             68,084(7)         36.2%
Bob Farahi(6)                              68,084(7)         36.2%
</TABLE>


       (1) The principal business address of Western, an affiliate of the
        General Partner, is 1175 West Moana Lane, Suite 200, Reno, Nevada
     89509.
       (2) The principal business address of Farahi Investment Company
        ("FIC"), an affiliate of the General Partner and the managing
   member of Western, is 1175 West Moana Lane, Suite 200, Reno, Nevada
 89509.



                                    -24-

       (3) Represents the 68,084 Units owned by Western with respect to which
        FIC shares beneficial ownership due to its position as the managing
      member of Western.
       (4) Mr. Farahi's principal business address is 1175 West Moana Lane,
        Suite 200, Reno, Nevada 89509.
       (5) Includes 44 Units held directly by Mr. Ben Farahi and 68,084 Units
        owned by Western with respect to which Mr. Farahi shares beneficial
      ownership due to his position as a general partner of FIC.
       (6) Messrs. John Farahi's and Bob Farahi's principal business address
        is 1175 West Moana Lane, Suite 200, Reno, Nevada 89509.
       (7) Represents 68,084 Units owned by Western with respect to which
        Messrs. Farahi share beneficial ownership due to their positions as
      general partners of FIC.

     (b)  Security Ownership of Management.

     At March 1, 2002, neither the General Partner nor its members, manager or
affiliates owned any Units except as indicated in (a) above.

     (c)  Changes in Control.

     There exists no arrangement known to the Registrant the operation of which
may at a subsequent date result in a change in control of the Registrant.


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     During Registrant's fiscal years ended December 31, 2001 and 2000, the
Registrant's general partners were not entitled to any payment for services
from or with respect to Registrant.  However, the general partners, pursuant to
the Partnership Agreement, are entitled to receive 2.5% of Registrant's income,
loss, capital and distributions (2.45% to the managing general partner and .05%
to the associate general partner) including without limitation the Registrant's
cash flow from operations and disposition proceeds. For the years ended
December 31, 2001 and 2000, the former general partners were allocated an
aggregate of $66,676 and $64,660, respectively, of taxable income.


ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits:

     The Exhibits listed on the accompanying Index to Exhibits are filed as
part of this Annual Report and incorporated in this Annual Report as set forth
in said Index.

     (b)  Reports on Form 8-K:

     None

















                                    -25-

                                  SIGNATURES

     In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.

RESOURCES ACCRUED MORTGAGE
INVESTORS 2, L.P.

By:  MAXUM LLC
     General Partner
                                                          Date

By:  /s/ Ben Farahi                                       March 28, 2002
     --------------
       Ben Farahi

     In accordance with the requirements of the Exchange Act, this report has
been signed below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.

     Signature                    Title                   Date

     /s/ Ben Farahi               Manager                 March 28, 2002
     --------------
      Ben Farahi









































                                 -26-

                                EXHIBIT INDEX

<TABLE>
<CAPTION>                                                                  Page
Exhibit   Description                                             Number
-------   -----------                                             ------
<S>       <C>                                                     <C>

2.        General and Limited Partner Interest Assignment              Agreement, dated as of
October 10, 2001, between             Maxum LLC, Western Real Estate Investments, LLC,
 RAM Funding, Inc., Presidio AGP Corp., Presidio              Capital Investment Company LLC,
Presidio                     Partnership II Corp. and Bighorn Associates LLC
(incorporated by reference to Exhibit 2.1 of the             Registrant's Current Report on Form
8-K dated n              (January 25, 2002).

3.

  (A)     Certificate of Limited Partnership filed on August           14, 1986 with the State
of Delaware (incorporated            by reference to Exhibit 3B to Pre-Effective
Amendment No. 1 to Registration Statement filed by           the Registrant with the Securities
and Exchange              Commission on May 14, 1987 (the "Pre-Effective
Amendment")).

  (B)     Amendment to Certificate of Limited Partnership              filed on March 12, 1987
with the State of Delaware           (incorporated by reference to the Pre-Effective
Amendment).

  (C)     Amendment to Certificate of Limited Partnership              filed on May 7, 1987 with
the State of Delaware              (incorporated by reference to the Pre-Effective
Amendment).

  (D)     Amendment to Certificate of Limited Partnership              filed on February 5, 1988
with the State of                  Delaware (incorporated by reference to Post-
Effective Amendment No. 2 to Registration Statement           filed by the Registrant ("Post-
Effective Amendment           No. 2")).

  (E)     Certificate of Amendment to Certificate of Limited      29
Partnership dated as of January 1, 2002, filed on
          January 29, 2002 with the State of Delaware.*

4.

  (A)     Amended and Restated Agreement of Limited                    Partnership of the
Registrant (incorporated by               reference to Exhibit 3A to  Post-Effective
     Amendment No. 2).

  (B)     Amendment No. 1 to Amended and Restated Partnership           Agreement dated as of
June 1, 1988 (incorporated by           reference to Exhibit 4(B) of the Registrant's
   Annual Report on Form 10-K for the fiscal year 1988           (the "1988 10-K")).





                                    -27-

  (C)     Amendment No. 2 to Amended and Restated Partnership           Agreement (incorporated
by reference to Supplement           No. 1 dated August 12, 1988 to the Prospectus filed
 by the Registrant with the Securities and Exchange           Commission pursuant to Rules
424(b)(3) and 424(c)            of the Securities Act of 1933).

  (D)     Amendment to Amended and Restated Agreement of           30           Limited
Partnership dated as of January 1, 2002.*

  (E)     Amendment to Amended and Restated Agreement of           32           Limited
Partnership dated as of January 1, 2002.*

10.

  (A)     Agreement with Associate General Partner dated as            of May 17, 1988 among
Integrated, RAM Funding, Inc.           and Z Square G Partners II (incorporated by
   reference to Exhibit 10(B) of the 1988 10-K).

  (B)     Mortgage Services Agreement dated as of April 12,            1988 between the
Registrant and RAM Funding, Inc.            (incorporated by reference to Exhibit 10(C) to the
       1988 10-K).

  (C)     Deed of Trust, Assignment of Rents, Fixture Filing           and Security Agreement
among High Cash Partners,             L.P., Trustee; First Commercial Title, Inc.,
 Trustee; and Resources Accrued Mortgage Investors            2, L.P., Beneficiary, dated
February 10, 1989                (incorporated by reference to Exhibit 10(a) to the
Registrant's Current Report on Form 8-K filed with           the Securities and Exchange
Commission dated                 February 13, 1989 (the "1989 Form 8-K").

  (D)     Registered Note among High Cash Partners, L.P. and           Resources Accrued
Mortgage Investors 2, L.P., dated           February 10, 1989 (incorporated by reference to
       Exhibit 10(b) to the 1989 Form 8-K).

  (E)     Assignment of Leases and Rents among High Cash               Partners, L.P. and
Resources Accrued Mortgage                Investors 2, L.P., dated February 10, 1989
     (incorporated by reference to Exhibit 10(c) to the           1989 Form 8-K).

  (F)     Modification Agreement, dated as of December 21,              2000, between High Cash
Partners, L.P. and                   Resources Accrued Mortgage Investors 2, L.P.
(incorporated by reference to Exhibit 10 to the              Registrant's Current Report on Form
8-K filed with           the Securities and Exchange Commission dated                 February
9, 2001).
</TABLE>

*Filed herewith.











                                    -28-