Resource Real Estate Opportunity REIT (RSRL) 10-K31 Mar 152014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Mar. 20, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Resource Real Estate Opportunity REIT, Inc.
Entity Central Index Key	1466225
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Document Type	10-K
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		69,721,754
Public Float	$0

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Investments:
Rental properties, net	$775,254	$390,373
Loans held for investment, net	1,523	1,724
Preferred equity investment	3,462	0
Identified intangible assets, net	2,081	5,182
Assets of discontinued operations	0	88
Assets held for sale - rental properties, net	36,764	0
Investments	819,084	397,367
Cash	140,129	270,323
Restricted cash	6,930	4,456
Due from related parties	1,148	530
Tenant receivables, net	527	573
Deposits	666	141
Prepaid expenses and other assets	2,302	1,567
Deferred financing costs, net	6,392	3,602
Goodwill	1,231	0
Total assets	978,409	678,559
Liabilities:
Mortgage notes payable	444,168	111,811
Credit facilities	45,586	37,041
Accounts payable	2,689	1,417
Accrued expenses and other liabilities	6,473	2,745
Accrued real estate taxes	5,689	2,117
Due to related parties	1,630	1,718
Tenant prepayments	1,383	615
Security deposits	2,437	1,826
Distribution payable	0	2,222
Total liabilities	510,055	161,512
Stockholdersâ€™ equity:
Preferred stock (par value $.01; 10,000,000 shares authorized, none issued)	0	0
Common stock (par value $.01; 1,000,000,000 shares authorized; 69,469,001 and 66,725,241 shares issued, respectively; and 69,254,165 and 66,667,136 shares outstanding, respectively)	693	668
Convertible stock (â€œpromote sharesâ€; par value $.01; 50,000 shares authorized, issued and outstanding)	1	1
Additional paid-in capital	614,024	590,591
Accumulated other comprehensive (loss) income	-266	20
Accumulated deficit	-154,319	-74,233
Total stockholdersâ€™ equity	460,133	517,047
Noncontrolling interests	8,221	0
Total equity	468,354	517,047
Total liabilities and stockholdersâ€™ equity	$978,409	$678,559

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Shares Issued	69,469,001	66,725,241
Common stock, outstanding (in shares)	69,254,165	66,667,136
Convertible stock ('promote shares'), par value (in dollars per share)	$0.01	$0.01
Convertible stock ('promote shares'), authorized (in shares)	50,000	50,000
Convertible stock ('promote shares'), issued (in shares)	50,000	50,000
Convertible stock ('promote shares'), outstanding (in shares)	50,000	50,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Rental income	$99,910	$40,790
Gain on foreclosures	0	3,459
Interest and dividend income	359	262
Total revenues	100,269	44,511
Expenses:
Rental operating	57,739	25,530
Acquisition costs	9,833	9,923
Foreclosure costs	0	49
Management fees	11,544	4,482
General and administrative	12,270	5,928
Loss on property impairment	0	24
Loss on disposal of assets	5,308	1,337
Depreciation and amortization expense	47,771	18,245
Total expenses	144,465	65,518
Loss before other expenses	-44,196	-21,007
Other (expense) income:
Net gains on dispositions	10,484	0
Interest expense	-14,911	-951
Insurance proceeds in excess of cost basis	425	0
Loss from continuing operations	-48,198	-21,958
Discontinued operations:
Income (loss) from discontinued operations	0	-701
Net gain on dispositions	0	3,173
Income from discontinued operations, net	0	2,472
Net loss	-48,198	-19,486
Net loss attributable to noncontrolling interests	2,021	0
Net loss attributable to stockholders	-46,177	-19,486
Amounts attributable to stockholders
Loss from continuing operations	-46,177	-21,958
Discontinued operations	0	2,472
Net loss attributable to stockholders	-46,177	-19,486
Net loss	-48,198	-19,486
Other comprehensive loss:
Designated derivatives, fair value adjustment	-286	20
Comprehensive loss	-48,484	-19,466
Comprehensive loss attributable to noncontrolling interests	2,021	0
Total comprehensive loss attributable to stockholders	($46,463)	($19,466)
Weighted average common shares outstanding (in shares)	68,008	39,284
Basic and diluted (loss) income per common share:
Continuing operations (in dollars per share)	($0.68)	($0.56)
Discontinued operations (in dollars per share)	$0	$0.06
Net loss (in dollars per share)	($0.68)	($0.50)

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Parent [Member]	Common Stock [Member]	Convertible Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Noncontrolling Interest [Member]
In Thousands, except Share data, unless otherwise specified	Total	Parent [Member]	Common Stock [Member]	Convertible Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Noncontrolling Interest [Member]
Beginning balance at Dec. 31, 2012	$165,029	$165,029	$223	$1	$196,081	$0	($31,276)	$0
Beginning balance (in shares) at Dec. 31, 2012			22,277,000	50,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	423,815	423,815	426		423,389
Issuance of common stock (in shares)			42,564,000
Proceeds from distribution reinvestment plan	9,984	9,984	11		9,973
Proceeds from distribution reinvestment plan (in shares)			1,051,000
Syndication costs	-46,596	-46,596			-46,596
Distributions of common stock	0	0	8		8,213		-8,221
Distributions declared	-15,289	-15,289					-15,289
Distributions of common stock (in shares)			822,000
Share redemptions	-430	-430			-469		39
Share redemptions (in shares)			-47,000
Other comprehensive loss	20	20				20
Net loss	-19,486	-19,486					-19,486
Ending balance at Dec. 31, 2013	517,047	517,047	668	1	590,591	20	-74,233	0
Ending balance (in shares) at Dec. 31, 2013	66,667,136		66,667,000	50,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from distribution reinvestment plan	22,898	22,898	24		22,874
Proceeds from distribution reinvestment plan (in shares)	2,410,424		2,410,000
Distributions of common stock	0	0	3		3,330		-3,333
Distributions declared	-30,635	-30,635					-30,635
Distributions of common stock (in shares)			333,000
Share redemptions	-1,388	-1,388	-2		-1,445		59
Share redemptions (in shares)	-156,730		-156,000
Other comprehensive loss	-286	-286				-286
Noncontrolling interests retained in the Paladin merger	18,901							18,901
Distributions to noncontrolling interests	-119							-119
Acquisitions of noncontrolling interests	-9,866	-1,326			-1,326			-8,540
Net loss	-48,198	-46,177					-46,177	-2,021
Ending balance at Dec. 31, 2014	$468,354	$460,133	$693	$1	$614,024	($266)	($154,319)	$8,221
Ending balance (in shares) at Dec. 31, 2014	69,254,165		69,254,000	50,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	($48,198)	($19,486)
Adjustments to reconcile net loss to net cash used in operating activities:
Income (loss) from discontinued operations	0	701
Gain on foreclosures	0	-3,460
Loss on disposal of assets	5,308	1,337
Loss on property impairment	0	563
Net gain on disposition	-10,484	-3,173
Depreciation and amortization	47,771	18,245
Amortization of deferred financing costs	1,365	169
Amortization of fair value adjustment of debt	-598	0
Fair value of interest rate caps	0	20
Accretion of discount and direct loan fees and costs	-28	-9
Changes in operating assets and liabilities, net of acquisitions:
Restricted cash	-351	-4,298
Tenant receivables, net	161	-463
Deposits	-775	268
Prepaid expenses and other assets	363	-553
Due to related parties, net	-1,236	1,047
Accounts payable and accrued expenses	5,289	1,432
Tenant prepayments	554	184
Security deposits	-127	287
Net cash used in operating activities from continuing operations	-986	-7,189
Cash flows from investing activities:
Proceeds from disposal of properties, net of closing costs	27,082	10,043
Property acquisitions	-229,041	-234,936
Ownership acquisitions, net of cash received	-58,720	0
Preferred equity acquisition	-3,460	0
Capital expenditures	-37,384	-25,834
Principal payments received on loans	227	20
Net cash used in investing activities of continuing operations	-301,296	-250,707
Cash flows from financing activities:
Proceeds from issuance of common stock, net of redemptions	0	426,898
Redemptions of common stock	-1,389	-469
Payment of deferred financing costs	-4,155	-2,994
Deferred offering costs	0	2,800
Increase in borrowings on mortgages	182,213	124,165
Principal payments on mortgages	-3,027	-197
Increase in borrowings on credit facilities	85,520	781
Payments on credit facilities	-76,975	0
Purchase of interest rate swaps	-110	-278
Distributions paid on common stock	-9,958	-4,757
Distributions to noncontrolling interests	-119	0
Syndication costs	0	-46,596
Net cash provided by financing activities of continuing operations	172,000	499,353
Net cash (used in) provided by continuing operations	-130,282	241,457
Cash flows from discontinued operations:
Net cash provided by (used in) operating activities	88	-470
Net cash provided by (used in) discontinued operations	88	-470
Net (decrease) increase in cash	-130,194	240,987
Cash at beginning of period	270,323	29,336
Cash at end of period	$140,129	$270,323

NATURE_OF_BUSINESS_AND_OPERATI

NATURE OF BUSINESS AND OPERATIONS	12 Months Ended
NATURE OF BUSINESS AND OPERATIONS	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND OPERATIONS	NATURE OF BUSINESS AND OPERATIONS
	Resource Real Estate Opportunity REIT, Inc. (the “Company”) was organized in Maryland on June 3, 2009 to purchase a diversified portfolio of discounted U.S. commercial real estate and real estate-related assets in order to generate gains to stockholders from the potential appreciation in the value of the assets and to generate current income for stockholders by distributing cash flow from the Company’s investments. Resource Real Estate Opportunity Advisor, LLC (the “Advisor”), an indirect wholly owned subsidiary of Resource America, Inc. (“RAI”), a publicly traded company (NASDAQ: REXI) operating in the real estate, financial fund management and commercial finance sectors, has been engaged to manage the day-to-day operations of the Company.
	On September 15, 2009, the Company commenced a private placement offering to accredited investors for the sale of up to 5.0 million shares of common stock at a price of $10 per share, with discounts available to certain categories of purchasers. The private offering, which closed on June 9, 2010, raised aggregate gross proceeds of $12.8 million, or $11.3 million net of $1.5 million in syndication costs, from the issuance of 1,283,727 common shares, including 20,000 shares purchased by the Advisor. In conjunction with the private offering, the Company also offered 5,000 shares of convertible stock at a price of $1 per share. Investors acquired 937 shares of the convertible stock and the Advisor purchased 4,063 shares. The Advisor agreed to invest 1% of the first $250.0 million invested in the Company by non-affiliated investors, or up to $2.5 million. As of December 31, 2014, the Advisor had purchased 276,056 shares of common stock for an aggregate purchase price of $2.5 million. The Advisor contributed $200,000 to the Company in exchange for 20,000 shares of common stock on June 17, 2009, of which 4,500 shares were exchanged for 45,000 shares of convertible stock in June 2010.
	On June 16, 2010, the Company’s registration statement on Form S-11 (File No. 333-160463), registering a primary public offering of up to 75.0 million shares of common stock and a public offering pursuant to the Company’s distribution reinvestment plan of up to an additional 7.5 million shares of common stock, was declared effective under the Securities Act of 1933, as amended, and the Company commenced its public offering. The Company is also offering shares pursuant to its distribution reinvestment plan at a purchase price equal to $9.50 per share. The primary portion of the initial public offering closed on December 13, 2013. On December 26, 2013, the unsold primary offering shares were deregistered and, on December 30, 2013, the registration of the shares issuable pursuant to the distribution reinvestment plan was continued pursuant to a Registration Statement on Form S-3.
	Through its private and public offerings, which concluded on December 13, 2013, the Company raised aggregate gross offering proceeds of $645.8 million through its private and public offerings, which resulted in the issuance of 64,926,311 shares of common stock, including the 276,056 shares purchased by the Advisor and 1,161,623 shares sold in the distribution reinvestment plan. During the year ended December 31, 2014, the Company issued 2,410,424 additional shares for $22.9 million pursuant to its distribution reinvestment plan .
	The Company has acquired, and intends to continue to acquire, real estate-related debt and equity that has been significantly discounted due to the effects of economic events and high levels of leverage, as well as stabilized properties that may benefit from extensive renovations that may increase their long-term values. The Company has a particular focus on acquiring and operating multifamily assets, and it has targeted, and intends to continue to target, this asset class while also acquiring interests in other types of commercial property assets consistent with its investment objectives. The Company’s targeted portfolio consists of commercial real estate assets, principally (i) multifamily rental properties purchased as non-performing or distressed loans or as real estate that was foreclosed upon and sold by financial institutions, (ii) multifamily rental properties to which the Company can add value with a capital infusion (“value add properties”) and (iii) non-performing or distressed loans, including but not limited to first and second priority mortgage loans, mezzanine loans, subordinate participations in first mortgage loans, or B-Notes, and other loans. However, the Company is not limited in the types of real estate assets in which it may invest and, accordingly, it may invest in other real estate-related assets either directly or together with a co-investor or joint venture partner.
	The Company is organized and conducts its operations in a manner intended to allow it to qualify as a real estate investment trust (“REIT”) for U.S. federal income tax purposes under Subchapter M of the Internal Revenue Code of 1986, as amended. The Company also operates its business in a manner intended to maintain its exemption from registration under the Investment Company Act of 1940, as amended.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	A summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows:

	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as follows:


	Subsidiary		Apartment Complex		Number		Property Location
					of Units
	RRE Opportunity Holdings, LLC		N/A		N/A		N/A

	Resource Real Estate Opportunity OP, LP		N/A		N/A		N/A

	RRE Charlemagne Holdings, LLC		N/A		N/A		N/A
	RRE 107th Avenue Holdings, LLC (“107th Avenue”)		107th Avenue		5		Omaha, NE

	RRE Westhollow Holdings, LLC (“Westhollow”)		Arcadia (b)		N/A		Houston, TX

	RRE Crestwood Holdings, LLC (“Crestwood”)		Town Park (a)(f)		N/A		Birmingham, AL

	RRE Iroquois, LP (“Vista”)		Vista Apartment Homes		133		Philadelphia, PA

	RRE Iroquois Holdings, LLC		N/A		N/A		N/A

	RRE Campus Club Holdings, LLC (“Campus Club”)		Campus Club (b)		N/A		Tampa, FL

	RRE Bristol Holdings, LLC (“Bristol”)		The Redford (e)		856		Houston, TX

	RRE Cannery Holdings, LLC (“Cannery”)		Cannery Lofts		156		Dayton, OH

	RRE Williamsburg Holdings, LLC (“Williamsburg”)		Williamsburg		976		Cincinnati, OH

	WPL Holdings, LLC		(c)		N/A		Cincinnati, Ohio

	RRE Skyview Holdings, LLC ("Skyview")		Cityside Crossing (e)		360		Houston, TX

	RRE Park Forest Holdings, LLC ("Park Forest")		Mosaic		216		Oklahoma City, OK

	RRE Foxwood Holdings, LLC ("Foxwood")		The Reserve at Mt. Moriah		220		Memphis, TN

	RRE Flagstone Holdings, LLC ("Flagstone")		The Alcove (e)		292		Houston, TX

	RRE Deerfield Holdings, LLC ("Deerfield")		Deerfield		166		Hermantown, MN

	RRE Kenwick Canterbury Holdings, LLC ("Kenwick & Canterbury")		One Hundred Chevy Chase Apartments		244		Lexington, KY

	RRE Armand Place Holdings, LLC ("Armand")		Ivy at Clear Creek		244		Houston, TX

	RRE Autumn Wood Holdings, LLC ("Autumn Wood")		Retreat at Rocky Ridge		206		Hoover, AL

	RRE Village Square Holdings, LLC ("Village Square")		Trailpoint at the Woodlands		271		Houston, TX

	RRE Nob Hill Holdings, LLC ("Nob Hill")		Affinity at Winter Park		192		Winter Park, FL

	RRE Brentdale Holdings, LLC ("Brentdale")		The Westside Apartments		412		Plano, TX

	RRE Jefferson Point Holdings, LLC ("Jefferson Point")		Tech Center Square		208		Newport News, VA

	RRE Centennial Holdings, LLC ("Centennial")		Verona Apartment Homes		276		Littleton, CO

	RRE Pinnacle Holdings, LLC ("Pinnacle")		Skyview Apartment Homes		224		Westminster, CO

	RRE Jasmine Holdings, LLC ("Jasmine")		The Nesbit Palisades		437		Alpharetta, GA

RRE River Oaks Holdings, LLC ("River Oaks")		Maxwell Townhomes		314		San Antonio, TX

RRE Nicollet Ridge Holdings, LLC ("Nicollet Ridge")		Meridian Pointe		339		Burnsville, MN

RRE Addison Place, LLC ("Addison Place")		Addison Place		403		Alpharetta, GA
PRIP Coursey, LLC ("Evergreen at Coursey Place")		Evergreen at Coursey Place (d)		352		Baton Rouge, LA
PRIP 3700, LLC ("Champion Farms")		N/A (d)		N/A		N/A


PRIP 10637, LLC ("Fieldstone")		N/A (d)		N/A		N/A
PRIP 500, LLC ("Pinehurst")		Pinehurst (d)		146		Kansas City, MO
PRIP 1102, LLC ("Pheasant Run")		Pheasant Run (d)		160		Lee's Summit, MO
PRIP 11128, LLC ("Retreat at Shawnee")		Retreat at Shawnee (d)		342		Shawnee, KS
PRIP 6700, LLC ("Hilltop Village")		Hilltop Village (b)		N/A		N/A
PRIP 3383, LLC ("Conifer Place")		N/A (d)		N/A		N/A
PRIP Stone Ridge, LLC ("Stone Ridge")		N/A (d)		N/A		N/A
PRIP Pines, LLC ("Pines of York")		Pines of York (d)		248		Yorktown, VA
PRIP 5060/6310, LLC ("Governor Park")		N/A (b) (d)		N/A		N/A
RRE Chisholm Place Holdings LLC ("Chisholm Place")		Chisholm Place		142		Plano, TX
RRE Berkeley Run Holdings, LLC ("Berkley Run")		Berkeley Run		194		Atlanta, GA
RRE Berkeley Trace Holdings LLC ("Berkley Trace")		Berkeley Trace		165		Atlanta, GA
RRE Merrywood LLC ("Merrywood")		Merrywood		228		Katy, TX
RRE Sunset Ridge Holdings, LLC ("Sunset Ridge")		Sunset Ridge		324		San Antonio, TX
RRE Parkridge Place Holdings, LLC ("Parkridge Place")		Parkridge Place		536		Irving, TX
RRE Spring Hill Holdings, LLC ("Spring Hill")		N/A		N/A		N/A
RRE Woodmoor Holdings, LLC ("Woodmoor")		N/A		N/A		N/A

N/A - Not Applicable
(a) - Discontinued operations
(b) - Sold in 2014.
(c) - Subsidiary holds a portion of the Williamsburg parking lot.
(d) - Wholly-owned subsidiary of RRE Charlemagne Holdings, LLC
(e) - Real estate assets included in Assets Held for Sale at December 31, 2014.
(f) - Sold in 2013.
All intercompany accounts and transactions have been eliminated in consolidation.
The consolidated financial statements reflect the Company's accounts and the accounts of the Company's majority-owned and/or controlled subsidiaries. The Company follows the provisions of Accounting Standards Codification (“ASC”) Topic 810, “Consolidation,” and accordingly consolidates entities that are variable interest entities (“VIEs”) where it has determined that it is the primary beneficiary of such entities. Once it has been determined that the Company holds a variable interest in a VIE, management performs a qualitative analysis to determine (i) if the Company has the power to direct the matters that most significantly impact the VIE's financial performance; and (ii) if the Company has the obligation to absorb the losses of the VIE that could potentially be significant to the VIE or the right to receive the benefits of the VIE that could potentially be significant to the VIE. If the Company's interest possesses both of these characteristics, the Company is deemed to be the primary beneficiary and would be required to consolidate the VIE. The Company will continually assess its involvement with VIEs and re-evaluate the requirement to consolidate them. Noncontrolling interests are presented and disclosed as a separate component of stockholders' equity (not as a liability or other item outside of stockholders' equity). Consolidated net income (loss) includes the noncontrolling interests’ share of income (loss). All changes in the Company’s ownership interest in a subsidiary are accounted for as stockholders' equity transactions if the Company retains its controlling financial interest in the subsidiary. The portions of these entities that the Company does not own are presented as noncontrolling interests as of the dates and for the periods presented in the consolidated financial statements. The consolidated financial statements include the accounts of the Company's majority-owned and/or controlled subsidiaries as follows:


Subsidiary		Ownership %		Apartment Complex		Number		Property Location
						of Units
Springhurst Housing Partners, LLC		70%		Champion Farms		264		Louisville, KY
Glenwood Housing Partners I, LLC		83%		Fieldstone		266		Woodlawn, OH
FPA/PRIP Conifer, LLC		42.50%		Conifer Place		420		Norcross, GA
DT Stone Ridge, LLC		77.70%		Stone Ridge		188		Columbia, SC
Use of Estimates
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Assets Held for Sale
The Company presents the assets and liabilities of any rental properties which have been sold, or otherwise qualify as held for sale, seperately in the Consolidated Balance Sheets. Real estate assets held for sale are measured at the lower of carrying amount or fair value less cost to sell. Both the real estate and the corresponding liabilities are presented separately in the Consolidated Balance Sheets. Subsequent to classification of an asset as held for sale, no further depreciation is recorded. The Company had three rental properties included in assets held for sale as of December 31, 2014.
Rental Properties
The Company records acquired rental properties at fair value. The Company considers the period of future benefit of an asset to determine its appropriate useful life and depreciates using the straight line method. The Company anticipates the estimated useful lives of its assets by class as follows:


Buildings	27.5 years
Building improvements	3.0 to 27.5 years
Tenant improvements	Shorter of lease term or expected useful life
Concentration of Credit Risk
Financial instruments, which potentially subject the Company to concentration of credit risk, consist of periodic temporary deposits of cash. At December 31, 2014, the Company had $142.6 million of deposits at various banks, $132.6 million of which were over the insurance limit of the Federal Deposit Insurance Corporation. No losses have been experienced on such deposits.
As of December 31, 2014, the Company's real estate investments in Texas and Georgia represented approximately 32% and 22% of the net book value of its rental property assets, respectively. As a result, the geographic concentration of the Company's portfolio makes it particularly susceptible to adverse economic developments in the Texas and Georgia real estate markets. Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, industry slowdowns, relocations of businesses, changing demographics and other factors, or any decrease in demand for multifamily rentals resulting from the local business climate, could adversely affect the Company's operating results and its ability to make distributions to stockholders.
Impairment of Long Lived Assets
When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for permanent impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. The review also considers factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors.
An impairment loss will be recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss would be the adjustment to fair value less the estimated cost to dispose of the asset. For the year ended December 31, 2013, the Company recorded a $563,000 impairment charge for two of its loans held for investment (Heatherwood Note and Peterson Note). The Heatherwood Note impairment charge of $539,000 is reflected in income from discontinued operations for the year ended December 31, 2013, as the Company sold Heatherwood Apartments in April 2013. The Peterson Note impairment charge of $24,000 is reflected in loss on property impairment for the year ended December 31, 2013. There were no impairment losses recorded on long lived assets during the year ended December 31, 2014.


Loans Held for Investment, Net
The Company records acquired performing loans held for investment at cost and reviews them for potential impairment at each balance sheet date. The Company considers a loan to be impaired if one of two conditions exists. The first condition is if, based on current information and events, management believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The second condition is if the loan is deemed to be a troubled-debt restructuring (“TDR”) where a concession has been given to a borrower in financial difficulty. A TDR may not have an associated specific loan loss allowance if the principal and interest amount is considered recoverable based on current market conditions, expected collateral performance and/or guarantees made by the borrowers.
The amount of impairment, if any, is measured by comparing the recorded amount of the loan to the present value of the expected cash flows or, as a practical expedient, the fair value of the collateral. If a loan is deemed to be impaired, the Company records a reserve for loan losses through a charge to income for any shortfall.
Interest income from performing loans held for investment is recognized based on the contractual terms of the loan agreement. Fees related to any buy down of the interest rate are deferred as prepaid interest income and amortized over the term of the loan as an adjustment to interest income. The initial investment made in a purchased performing loan includes the amount paid to the seller plus fees. The initial investment frequently differs from the related loan’s principal amount at the date of the purchase. The difference is recognized as an adjustment of the yield over the life of the loan. Closing costs related to the purchase of a performing loan held for investment are amortized over the term of the loan and accreted as an adjustment to interest income.
The Company may acquire real estate loans at a discount due to the credit quality of such loans and the respective borrowers under such loans. Revenues from these loans are recorded under the effective interest method. Under this method, an effective interest rate (“EIR”) is applied to the cost basis of the real estate loan held for investment. The EIR that is calculated when the loan held for investment is acquired remains constant and is the basis for subsequent impairment testing and income recognition. However, if the amount and timing of future cash collections are not reasonably estimable, the Company accounts for the real estate receivable on the cost recovery method. Under the cost recovery method of accounting, no income is recognized until the basis of the loan held for investment has been fully recovered.
Preferred Equity Investment
The Company records preferred equity investments at cost and evaluates the collectibility of both interest and principal at each balance sheet date. A preferred equity investment is considered impaired, when based on current information and events, it is probable that the Company will not be able to collect all amounts due according to existing contractual terms. When an investment is impaired, the amount of the loss accrual is calculated by comparing the carrying amount of the investment to its estimated fair value. Fees paid, net of expenses, are deferred and recognized as an adjustment to interest and dividend income earned over the term of the agreement.
Dividend income is recognized based on the contractual terms of the preferred equity agreement.
Allocation of the Purchase Price of Acquired and Foreclosed Assets
The cost of rental properties acquired directly as fee interests and through foreclosing on a loan are allocated to net tangible and intangible assets based on their relative fair values. The Company allocates the purchase price of properties to acquired tangible assets, consisting of land, buildings, fixtures and improvements, and to identified intangible lease assets and liabilities, consisting of the value of above-market and below-market leases, as applicable, the value of in-place leases and the value of tenant relationships. Fair value estimates are based on information obtained from a number of sources, including information obtained about each property as a result of pre-acquisition due diligence, marketing and leasing activities. In addition, the Company may obtain independent appraisal reports. The information in the appraisal reports along with the aforementioned information available to the Company's management is used in allocating the purchase price. The independent appraisers have no involvement in management's allocation decisions other than providing market information.
In allocating the purchase price, management also includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up period. Management also estimates costs to execute similar leases, including leasing commissions and legal and other related expenses, to the extent that such costs have not already been incurred in connection with a new lease origination as part of the transaction.
The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. The Company amortizes any capitalized above-market or below-market lease values as an increase or reduction to rental income over the remaining non-cancelable terms of the respective leases.
The Company measures the aggregate value of other intangible assets acquired based on the difference between (i) the property valued with existing in-place leases adjusted to market rental rates and (ii) the property valued as if it were vacant. Management’s estimates of value are made using methods similar to those used by independent appraisers (e.g., discounted cash flow analysis). Factors to be considered by management in its analysis include an estimate of carrying costs during hypothetical expected lease-up periods considering current market conditions and costs to execute similar leases.
The total amount of other intangible assets acquired is further allocated to customer relationship intangible values based on management’s evaluation of the specific characteristics of each tenant’s lease and the Company’s overall relationship with that respective tenant. Characteristics to be considered by management in allocating these values include the nature and extent of the Company’s existing relationships with the tenant, the tenant’s credit quality and expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors.
The Company amortizes the value of in-place leases to expense over the average remaining term of the respective leases. The value of customer relationship intangibles are amortized to expense over the initial term and any renewal periods in the respective leases, but in no event will the amortization periods for the intangible assets exceed the remaining depreciable life of the building. Should a tenant terminate its lease, the unamortized portion of the in-place lease value and customer relationship intangibles associated with that tenant would be charged to expense in that period.
The determination of the fair value of assets and liabilities acquired requires the use of significant assumptions with regard to current market rental rates, discount rates and other variables. The use of inappropriate estimates would result in an incorrect assessment of the purchase price allocations, which could impact the amount of the Company’s reported net income. Initial purchase price allocations are subject to change until all information is finalized, which is generally within one year of the acquisition date.
Goodwill

The Company records the excess of the cost of an acquired entity over the difference between the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed as goodwill. Goodwill is not amortized but is tested for impairment at a level of reporting referred to as a reporting unit during the fourth quarter of each calendar year, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company tested goodwill as of December 31, 2014 and found no indications of impairment.
Revenue Recognition
The Company recognizes minimum rent, including rental abatements and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related lease and includes amounts expected to be received in later years in deferred rents. The Company records property operating expense reimbursements due from tenants for common area maintenance, real estate taxes and other recoverable costs in the period in which the related expenses are incurred.
The future minimum rental payments to be received from noncancelable operating leases for residential rental properties are $45.0 million and $331,000 for the years ending December 31, 2015 and 2016, respectively, and $0 thereafter. The future minimum rental payments to be received from noncancelable operating leases for commercial rental properties and antenna rentals are $230,000, $178,000, $99,000, $10,000 and $0 for the years ending December 31, 2015, 2016, 2017, 2018 and thereafter, respectively.
Tenant Receivables
Tenant receivables are stated in the financial statements at amounts due from tenants net of an allowance for uncollectible receivables. Payment terms vary and receivables outstanding longer than the payment terms are considered past due. The Company determines its allowance by considering a number of factors, including the length of time receivables are past due, security deposits held, the Company’s previous loss history, the tenants’ current ability to pay their obligations to the Company, the condition of the general economy and the industry as a whole. The Company writes off receivables when they become uncollectible. At December 31, 2014 and 2013, there were allowances for uncollectible receivables of $57,300 and $86,000, respectively.
Deferred Offering Costs
Through December 31, 2013, the Advisor had advanced $4.6 million on behalf of the Company for the payment of public offering costs consisting of accounting, advertising, allocated payroll, due diligence, marketing, legal and similar costs. A portion of these costs was charged to equity upon the sale of each share of common stock sold under the public offering. Similarly, a portion of the proceeds received from the sales of shares in the Company's public offering was paid to the Advisor to reimburse it for the amount incurred on behalf of the Company. Deferred offering costs represent the portion of the total costs incurred that have not been charged to equity to date. As of December 31, 2014 and 2013, $4.6 million and $4.2 million, respectively, have been reimbursed to the Advisor.
Income Taxes
To maintain its REIT qualification for U.S. federal income tax purposes, the Company is generally required to distribute at least 90% of its taxable net income (excluding net capital gains) to its stockholders as well as comply with other requirements, including certain asset, income and stock ownership tests. As a REIT, the Company is not subject to federal corporate income tax to the extent the that it distributes 100% of its REIT taxable income each year. If the Company fails to qualify as a REIT, and does not qualify for certain statutory relief provisions, it is subject to U.S. federal, state and local income taxes and may be precluded from qualifying as a REIT for the subsequent four taxable years following the year in which it fails its REIT qualification. Accordingly, the Company’s failure to qualify as a REIT could have a material adverse impact on its results of operations and amounts available for distribution to its stockholders.
The dividends-paid deduction of a REIT for qualifying dividends to its stockholders is computed using the Company’s taxable income as opposed to net income reported on the financial statements. Generally, taxable income differs from net income reported on the financial statements because the determination of taxable income is based on tax provisions and not financial accounting principles.
The Company may elect to treat certain of its subsidiaries as a taxable REIT subsidiary (“TRS”). In general, the Company’s TRSs may hold assets and engage in activities that the Company cannot hold or engage in directly and generally may engage in any real estate or non-real estate-related business. A TRS is subject to U.S. federal, state and local corporate income taxes. As of December 31, 2014 and 2013, the Company had no TRSs.
The Company evaluates the benefits from tax positions taken or expected to be taken in its tax return. Only the largest amount of benefits from tax positions that will more likely than not be sustainable upon examination are recognized by the Company. The Company does not have any unrecognized tax benefits, nor interest and penalties, recorded in its consolidated financial statements and does not anticipate significant adjustments to the total amount of unrecognized tax benefits within the next 12 months.
The Company is subject to examination by the U.S. Internal Revenue Service and by the taxing authorities in other states in which the Company has significant business operations. The Company is not currently undergoing any examinations by taxing authorities.
Earnings Per Share
Basic earnings per share are calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share are computed by dividing income available to common stockholders by the weighted-average common shares outstanding during the period. Diluted earnings per share take into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted to common stock. Due to reported losses for the periods presented, 50,000 of the convertible shares (discussed in Note 17) are not included in the diluted earnings per share calculations. For the purposes of calculating earnings per share, all common shares and per common share information in the financial statements have been adjusted retroactively for the effect of seven 1.5% stock distributions, two 0.75% stock distribution, one 0.585% stock distributions and two 0.5% stock distributions issued to stockholders. Common stock shares issued on the Consolidated Balance Sheets have also been adjusted retroactively for the effect of these 12 distributions.
Reclassifications
Certain amounts in the prior year financial statements have been reclassified to conform to the current-year presentation. The impact of the reclassifications made to prior year amounts are not material and did not affect net income (loss).

Adoption of New Accounting Standard
The Company early adopted the following accounting standard during 2014 which did not have a material impact on its presentation of its consolidated financial position, results of operations and cash flows:
In April 2014, the Financial Accounting Standards Board, or FASB, issued authoritative guidance to change the criteria for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift in a company's operations and financial results should be reported as discontinued operations, with expanded disclosures. In addition, disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify as a discontinued operation is required. This guidance became effective for the Company as of January 1, 2014.
Prior to January 1, 2014, the sale of rental properties were considered a discontinued operation assuming no significant continuing involvement by the Company.
Accounting Standards Issued But Not Yet Effective
In May 2014, FASB issued Accounting Standards Update (“ASU”)("ASU No. 2014-09"), “Revenue from Contracts with Customers”, which will replace most existing revenue recognition guidance in GAAP. The core principle of ASU No. 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU No. 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU No. 2014-09 will be effective for the Company beginning January 1, 2017, including interim periods in 2017, and allows for both retrospective and prospective methods of adoption. The Company is in the process of determining the method of adoption and assessing the impact of this guidance on the Company’s consolidated financial position, results of operations and cash flows.
In August 2014, FASB issued ASU No. 2014-15, "Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern." Under the new guidance, an entity should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The guidance is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of the new requirements is not expected to have a material impact on the Company's consolidated balance sheet, statement of operations, or statement of cash flows.
In January 2015, FASB issued ASU No. 2015-01, "Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items" (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items. Although the amendment will eliminate the requirements for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements.

SUPPLEMENTAL_CASH_FLOW_INFORMA

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION
	The following table presents supplemental cash flow information (in thousands):


		Years Ended
		December 31,
		2014		2013
	Non-cash activities:
	Assets and liabilites assumed in acquisitions:
	Other assets assumed	$	3,231	$	48

	Debt assumed	158,061		14,300

	Other liabilities assumed	3,204		63

	Noncontrolling interests	18,901		—

	Rental properties, net	176,935		14,315


	Property and intangibles received on foreclosure of loans held for investment	—		10,150

	Financing provided for disposed property	—		800

	Stock issued from distribution reinvestment plan	22,899		9,984

	Stock distributions issued	3,333		8,221

	Cash distributions on common stock declared but not yet paid	—		2,222

	Deferred financing costs and escrow deposits funded directly by mortgage note and revolving credit facility	4,404		2,880


	Cash paid during the period for:
	Interest	$	12,832	$	537

RENTAL_PROPERTIES_NET

RENTAL PROPERTIES, NET	12 Months Ended
	Dec. 31, 2014
Real Estate Investments, Net [Abstract]
RENTAL PROPERTIES, NET	RENTAL PROPERTIES, NET
	The Company’s investments in rental properties consisted of the following (in thousands):


		December 31,
		2014			2013


	Land	$	122,137		$	62,859

	Building and improvements	666,912			325,412

	Furniture, fixtures and equipment	21,495			17,051

	Construction in progress	3,005			827

		813,549			406,149

	Less: accumulated depreciation	(38,295		)	(15,776		)
		$	775,254		$	390,373

	Depreciation expense for the years ended December 31, 2014 and 2013 was $32.8 million and $11.6 million, respectively.
	During the three months ended December 31, 2014, the Company entered into agreements to sell three rental properties, The Alcove, Cityside Crossing and The Redford with a total net book value of $36.8 million. The Company confirmed the intent and ability to sell all three properties in their present condition and all three properties qualified for held for sale accounting treatment upon meeting all applicable criteria on or prior to December 31, 2014, at which time depreciation ceased. As such, the assets associated with these properties are separately classified and included as assets held for sale on the Company's consolidated balance sheets at December 31, 2014. However, the anticipated sale of these properties did not qualify for discontinued operations, and, therefore the operations for all periods presented continue to be classified within continuing operations on the Company's consolidated statements of operations. The Company completed the sales of The Alcove, Cityside Crossing and The Redford on January 26, 2015, February 27, 2015 and March 2, 2015, respectively (see Note 23).

LOANS_HELD_FOR_INVESTMENT_NET

LOANS HELD FOR INVESTMENT, NET	12 Months Ended
	Dec. 31, 2014
LOANS HELD FOR INVESTMENT, NET [Abstract]
LOANS HELD FOR INVESTMENT, NET	LOANS HELD FOR INVESTMENT, NET

	On March 15, 2011, the Company purchased, at a discount, two non-performing promissory notes (the "Oberlin Note” and the "Heatherwood Note”) and two performing promissory notes (the "Peterson Note” and the "Trail Ridge Note”), collectively referred to as the “Notes”, each of which was secured by a first priority mortgage on multifamily rental apartment communities. The contract purchase price for the Notes was a total of $3.1 million, excluding closing costs.

	On August 2, 2011, the borrower under the Oberlin Note entered into a forbearance agreement with the Company and, on September 23, 2011, paid the Company a negotiated amount in satisfaction of the note in full.

	On August 18, 2011, the Company was the successful bidder at a foreclosure sale of the property collateralizing the Heatherwood Note. Possession of the Heatherwood Apartments was obtained in February 2012 and the property was subsequently sold in April 2013 (see Note 9). On April 18, 2013, in connection with the sale of the Heatherwood Apartments, the Company originated an $800,000 mortgage loan (the "Heatherwood Sale Note") to the purchaser of the Heatherwood Apartments on the same date.

	On December 31, 2011, the Peterson Note matured with an unpaid balance of $238,000. Accordingly, the Company and the borrower under this note entered into a forbearance agreement in January 2012 which expired on December 31, 2013. The borrower did not pay the outstanding balance at the expiration of the forbearance period, which caused the borrower under the Peterson Note to be in default of such agreement. This forbearance agreement was considered a troubled debt restructuring. On February 27, 2014, the Company was the successful bidder at a foreclosure sale of the property collateralizing the Peterson Note. On April 6, 2014, the Company sold its interest in the sheriff's deed for the Peterson Apartments for $195,000.

	The face value of the performing notes, the Heatherwood Sale Note and the Trail Ridge Note, as of both December 31, 2014 and 2013 was $1.9 million. The performing notes were purchased net of discounts and the unamortized accretable discounts totaled $266,000 and $292,000 at December 31, 2014 and December 31, 2013, respectively.
	The following table provides the aging of the Company’s loans held for investment (dollars in thousands):


			December 31, 2014					December 31, 2013
			Amount			Percent		Amount		Percent
	Current		$	1,523		100%		$	1,529	89%


	Delinquent:

	30−89 days		—			—%		195		11%

	90−180 days		—			—%		—		—%

	Greater than 180 days		—			—%		—		—%

			$	1,523		100%		$	1,724	100%

	The following table provides information about the credit quality of the Company’s loans held for investment, net, (in thousands):


		December 31,
		2014			2013
	Loans:
	Performing	$	1,523		$	1,529

	Nonperforming	—			195

	Total	$	1,523		$	1,724

	The following table provides information about the terms of the Company's loans held for investment (dollars in thousands):


		Trail Ridge			Heatherwood
		Note			Sale Note
	Original Face value	$	1,058		$	800

	Current value at December 31, 2014	994			776

	Maturity date	10/28/21			5/17/16

	Interest rate	7.5		%	4		%
	Average monthly payment	$	8		$	11

	The Company has individually evaluated each loan for impairment and determined that, as of December 31, 2014, the two loans were not impaired. As of December 31, 2013, the Company recorded an impairment charge of approximately $24,000 on the Peterson Note.
	There was a $0 and $24,000 allowance for credit losses as of December 31, 2014 and 2013, respectively. There were $24,000 and $0 charge-offs for the years ended December 31, 2014 and 2013, respectively.

PREFERRED_EQUITY_INVESTMENT

PREFERRED EQUITY INVESTMENT	12 Months Ended
PREFERRED EQUITY INVESTMENT	Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
PREFERRED EQUITY INVESTMENT	PREFERRED EQUITY INVESTMENT

	On November 12, 2014, the Company, through its wholly owned subsidiary, RRE Spring Hill Holdings, LLC, made a $3.5 million preferred equity investment in Spring Hill Investors Limited Partner, LLC (the “Investment Vehicle”) and became the Preferred Member. Presidium AMC Spring Hill Venture, LLC, (“Presidium”), a Texas limited liability company, owns the common equity and acts as the Managing Member of the Investment Vehicle. The Company is obligated to fund up to an additional $1.5 million in increments of $150,000 as long as no triggering event has occurred.

	The Investment Vehicle is the sole member of Spring Hill Investors GP, LLC, which is the general partner of Spring Hill Investors, LP, the owner of a 606-unit multifamily residential apartment community commonly known as Spring Hill Apartments (“Spring Hill”) and located in Dallas, Texas. The Company’s preferred equity investment will be predominately utilized for capital improvements and deferred maintenance projects.

	The Company is to be paid a dividend equal to 12% of the total amount invested, 7% of which must be paid monthly and the remaining accrues and is to be paid when the property cash flow allows for the repayment. The mandatory redemption date for the investment is the earliest of (i) April 2017 or (ii) any earlier date that the mortgage loan secured by Spring Hill Apartments becomes due and payable as a result of the acceleration of the loan maturity date by the lender, or (iii) the date on which a defeasance is effected pursuant to the loan documents.

	The preferred equity balance is presented net of nonrefundable origination fees and net of origination expenses, of $40,000, which are being amortized over the term of the investment as an adjustment to interest and dividend income.

ACQUISITIONS_AND_FORECLOSURES

ACQUISITIONS AND FORECLOSURES	12 Months Ended
ACQUISITIONS AND FORECLOSURES	Dec. 31, 2014
Business Combinations [Abstract]
ACQUISITIONS AND FORECLOSURES	ACQUISITIONS AND FORECLOSURES
	Real Estate Investments
	As of December 31, 2014, the Company owned 38 properties, including nine of the 12 properties purchased on January 28, 2014 as part of the Paladin Realty Income Properties, Inc. (“Paladin”) portfolio acquisition, discussed below. The Company recognized goodwill on the Paladin transaction as the excess of purchase price over the fair value of the property acquired. The Company estimated the fair values of certain of the acquired assets and liabilities based on preliminary valuations at the date of purchase. The Company has received final appraisals for all recent acquisitions.
	The table below summarizes these acquisitions and the respective fair values assigned, excluding non-wholly owned properties acquired through the Paladin merger (dollars in thousands):



	Multifamily		City and State		Date of		Purchase					Land				Building and Improvements				Furniture, Fixture and Equipment				Intangible Assets				Other Assets								Fair Valued
	Community Name		City and State		Acquisition		Price (1)					Land				Building and Improvements				Furniture, Fixture and Equipment				Intangible Assets				Other Assets				Liabilities				Assigned
	Pines of York		Yorktown, VA		1/28/14		$	8,087		(2)		$	4,464			$	16,340			$	400			$	715			$	416			$	(15,447	)		$	6,888
	Pines of York		Yorktown, VA		1/28/14		$	8,087		(2)		$	4,464			$	16,340			$	400			$	715			$	416			$	(15,447	)		$	6,888
	Parkridge Place		Irving, TX		9/29/14		48,500					6,707				39,543				825				1,425				9				(636		)		47,873
	Parkridge Place		Irving, TX		9/29/14		48,500					6,707				39,543				825				1,425				9				(636		)		47,873
	Sunset Ridge		San Antonio, TX		9/4/14		35,000					15,425				18,615				514				931				—				(24,737		)		10,748
	Sunset Ridge		San Antonio, TX		9/4/14		35,000					15,425				18,615				514				931				—				(24,737		)		10,748
	Pinehurst		Kansas City, MO		1/28/14		3,588			(3)		1,250				8,241				200				290				142				(4,548		)		5,575
	Pinehurst		Kansas City, MO		1/28/14		3,588			(3)		1,250				8,241				200				290				142				(4,548		)		5,575
	Pheasant Run		Lee's Summit, MO		1/28/14		4,277			(3)		800				10,798				300				317				172				(6,559		)		5,828
	Pheasant Run		Lee's Summit, MO		1/28/14		4,277			(3)		800				10,798				300				317				172				(6,559		)		5,828
	Retreat at Shawnee		Shawnee, KS		1/28/14		5,369			(3)		3,200				14,550				500				608				186				(14,088		)		4,956
	Retreat at Shawnee		Shawnee, KS		1/28/14		5,369			(3)		3,200				14,550				500				608				186				(14,088		)		4,956
	Merrywood		Katy, TX		6/26/14		32,300					5,831				25,247				307				915				—				(377		)		31,923
	Merrywood		Katy, TX		6/26/14		32,300					5,831				25,247				307				915				—				(377		)		31,923
	Berkeley Trace		Atlanta, GA		5/19/14		22,250					4,002				17,600				194				453				—				(110		)		22,139
	Berkeley Trace		Atlanta, GA		5/19/14		22,250					4,002				17,600				194				453				—				(110		)		22,139
	Berkeley Run		Atlanta, GA		5/19/14		29,500					4,723				23,969				219				588				—				(156		)		29,343
	Berkeley Run		Atlanta, GA		5/19/14		29,500					4,723				23,969				219				588				—				(156		)		29,343
	Chisholm Place		Plano, TX		5/5/14		15,000					1,981				12,383				198				438				—				(96		)		14,904
	Chisholm Place		Plano, TX		5/5/14		15,000					1,981				12,383				198				438				—				(96		)		14,904
	Evergreen at Coursey		Baton Rouge, LA		1/28/14		15,499			(4)		3,430				38,041				530				1,080				680				(28,844		)		14,917
	Evergreen at Coursey		Baton Rouge, LA		1/28/14		15,499			(4)		3,430				38,041				530				1,080				680				(28,844		)		14,917
	Addison Place		Alpharetta, GA		3/28/14		70,500					6,353				62,249				509				1,389				49				(392		)		70,157
	Addison Place		Alpharetta, GA		3/28/14		70,500					6,353				62,249				509				1,389				49				(392		)		70,157
	Meridian Pointe		Burnsville, MN		12/20/13		33,149					4,134				26,992				1,016				1,008				36				(107		)		33,079
	Meridian Pointe		Burnsville, MN		12/20/13		33,149					4,134				26,992				1,016				1,008				36				(107		)		33,079
	Maxwell Townhomes		San Antonio, TX		12/16/13		22,500					3,830				17,510				491				669				48				(14,363		)		8,185
	Maxwell Townhomes		San Antonio, TX		12/16/13		22,500					3,830				17,510				491				669				48				(14,363		)		8,185
	The Nesbit Palisades		Alpharetta, GA		10/25/13		25,050					7,582				16,023				587				859				37				(161		)		24,927
	The Nesbit Palisades		Alpharetta, GA		10/25/13		25,050					7,582				16,023				587				859				37				(161		)		24,927
	Verona Apartment Homes		Littleton,		9/30/13		30,600					5,702				23,609				198				1,090				24				(190		)		30,433
	Verona Apartment Homes		CO		9/30/13		30,600					5,702				23,609				198				1,090				24				(190		)		30,433
	Skyview Apartment Homes		Westminster,		9/30/13		24,250					2,923				20,301				97				928				20				(147		)		24,122
	Skyview Apartment Homes		CO		9/30/13		24,250					2,923				20,301				97				928				20				(147		)		24,122
	Tech Center Square		Newport News,		9/9/13		18,250					3,951				13,048				584				667				23				(59		)		18,214
	Tech Center Square		VA		9/9/13		18,250					3,951				13,048				584				667				23				(59		)		18,214
	The Westside Apartments		Plano,		7/25/13		32,200					5,785				24,418				798				1,199				52				(317		)		31,935
	The Westside Apartments		TX		7/25/13		32,200					5,785				24,418				798				1,199				52				(317		)		31,935
	Affinity at Winter Park		Winter Park,		6/27/13		10,100					2,512				6,459				523				606				50				(61		)		10,089
	Affinity at Winter Park		FL		6/27/13		10,100					2,512				6,459				523				606				50				(61		)		10,089
	Trailpoint at the Woodlands		Spring,		6/24/13		27,200					3,785				22,014				697				704				40				(170		)		27,070
	Trailpoint at the Woodlands		TX		6/24/13		27,200					3,785				22,014				697				704				40				(170		)		27,070
	Retreat at Rocky Ridge		Hoover,		4/18/13		8,500					1,616				6,418				30				436				2				(89		)		8,413
	Retreat at Rocky Ridge		AL		4/18/13		8,500					1,616				6,418				30				436				2				(89		)		8,413
	Ivy at Clear Creek		Houston,		3/28/13		11,750					1,877				9,175				28				670				8				(127		)		11,631
	Ivy at Clear Creek		TX		3/28/13		11,750					1,877				9,175				28				670				8				(127		)		11,631
	One Hundred Chevy Chase Apartments		Lexington,		3/13/13		6,850					1,323				4,981				41				505				7				(101		)		6,756
	One Hundred Chevy Chase Apartments		KY		3/13/13		6,850					1,323				4,981				41				505				7				(101		)		6,756
	Deerfield		Hermantown		3/21/12		10,300			(5)		1,660				11,110				500				423				1				(4		)		13,690
	Deerfield		MN		3/21/12		10,300			(5)		1,660				11,110				500				423				1				(4		)		13,690
	The Alcove		Houston,		12/21/12		5,500					1,202				3,865				20				413				54				(13		)		5,541
	The Alcove		TX		12/21/12		5,500					1,202				3,865				20				413				54				(13		)		5,541
	Cityside Crossing		Houston,		12/19/12		14,425					1,949				11,676				37				763				49				(68		)		14,406
	Cityside Crossing		TX		12/19/12		14,425					1,949				11,676				37				763				49				(68		)		14,406
	The Reserve at		Memphis,		12/7/12		2,275					775				1,124				39				337				16				(90		)		2,201
Mount Moriah	TN				12/7/12		2,275					775				1,124				39				337				16				(90		)		2,201
Mosaic		Oklahoma City,		12/6/12		2,050					1,000				2,609				30				123				14				(14		)		3,762
Mosaic		OK		12/6/12		2,050					1,000				2,609				30				123				14				(14		)		3,762
Williamsburg		Cincinnati,		6/20/12		41,250					3,223				35,111				1,007				1,909				49				(274		)		41,025
Apartments		OH		6/20/12		41,250					3,223				35,111				1,007				1,909				49				(274		)		41,025


Cannery Lofts		Dayton,		5/13/11		7,100			(6)		160				7,913				200				609				35				—				8,917
Cannery Lofts		OH		5/13/11		7,100			(6)		160				7,913				200				609				35				—				8,917
The Redford		Houston,		3/27/12		11,400					4,073				5,235				262				1,558				272				—				11,400
The Redford		TX		3/27/12		11,400					4,073				5,235				262				1,558				272				—				11,400
Vista Apartment		Philadelphia,		6/17/11		12,000			(7)		1,163				9,913				—				535				530				(141		)		12,000
Homes		PA		6/17/11		12,000			(7)		1,163				9,913				—				535				530				(141		)		12,000
107th Avenue		Omaha,		8/18/10		225					25				196				—				4				—				—				225
107th Avenue		NE		8/18/10		225					25				196				—				4				—				—				225




-1	Purchase price excludes closing costs and acquisition expenses. For properties acquired through foreclosure, the purchase price reflects the contract purchase price of the note.

-2	The Company originally acquired a 90% interest in the joint venture that owned Pines of York on January 28, 2014. On November 25, 2014, the Company purchased the remaining 10% ownership interest of its joint venture partner, bringing the Company's ownership percentage to 100%.

-3	The Company originally acquired a 97.5% interest in each of the joint ventures that owned Pinehurst, Pheasant Run and Retreat at Shawnee on January 28, 2014. On July 1, 2014, the Company purchased the remaining 2.5% ownership interest of its joint venture partner in each entity, bringing the Company's ownership percentage in each entity to 100%.

-4	The Company originally acquired a 51.7% interest in the joint venture that owned Evergreen at Coursey on January 28, 2014. On March 31, 2014, the Company purchased the remaining 48.3% ownership interest of its joint venture partner, bringing the Company's ownership percentage to 100%.

-5	Deerfield originally served as the collateral for a non- performing note that the Company purchased on March 21, 2012. On July 19, 2012, the Company was the successful bidder at a foreclosure sale and formally received title to the property on January 22, 2013. The date of acquisition reflects the date the Company acquired the note.

-6	Cannery Lofts originally served as the collateral for a non-performing note that the Company purchased on May 13, 2011. On December 21, 2011, the Company entered into a settlement agreement with the borrower and, subsequently, the Company foreclosed and formally received title to the property on June 6, 2012. The date of acquisition reflects the date the Company acquired the note.

-7	Vista Apartment Homes, formerly known as Iroquois Apartments, originally served as the collateral for a non-performing promissory note that the Company purchased on June 17, 2011. On August 2, 2011, the Company was the successful bidder at a sheriff's sale and formally received title to the property.
Acquisitions
The Company acquired interests in 18 properties during the year ended December 31, 2014, including the 11 joint venture interests comprising the Paladin acquisition. In order to finalize the fair values of the acquired assets and liabilities, third-party appraisals were obtained for all of the properties acquired. The Company has up to 12 months from the date of acquisition to finalize the valuation for each property. All valuations have been finalized as of December 31, 2014.
Paladin Acquisition
On July 18, 2013, Resource Real Estate Opportunity OP, LP (the “Operating Partnership”), the operating partnership of the Company, entered into an Agreement and Plan of Merger with RRE Charlemagne Holdings, LLC, a wholly-owned subsidiary of the Operating Partnership (“Merger Sub”), Paladin, and Paladin Realty Income Properties, L.P. (“Paladin OP”), whose sole general partner was Paladin, pursuant to which Paladin OP was to merge with and into Merger Sub (the “Merger”), with Merger Sub surviving as a wholly-owned subsidiary of the Operating Partnership.
On January 28, 2014, the parties completed the Merger resulting in the acquisition by the Operating Partnership of interests in 11 joint ventures that owned a total of 10 multifamily communities with more than 2,500 rentable units and two office properties that contained more than 75,000 rentable square feet. The Operating Partnership also acquired, as part of the Merger, a promissory note in the principal amount of $3.5 million issued by a consolidated joint venture which is eliminated in consolidation. This promissory note is secured by the co-venturer’s interests in such joint venture. The consideration for the Merger was $51.2 million exclusive of transaction costs. The names of each community, location and the Company's joint venture ownership interests on the date of acquisition are presented below:


Multifamily		City		Ownership % at Date of Acquisition
Community Name		and
		State
Champion Farms		Louisville, KY		70%
Fieldstone		Woodlawn, OH		83%
Pinehurst		Kansas City, MO		97.50%
Pheasant Run		Lee's Summit, MO		97.50%
Retreat at Shawnee		Shawnee, KS		97.50%
Hilltop Village		Kansas City, MO		49%
Conifer Place		Norcross, GA		42.50%
Stone Ridge		Columbia, SC		68.50%
Evergreen at Coursey Place		Baton Rouge, LA		51.70%
Pines of York		Yorktown, VA		90%
Governor Park		San Diego, CA		47.65%
(sold March 6, 2014)		San Diego, CA		47.65%
The supplemental pro forma financial information set forth below is based upon historical financial statements giving effect to the Paladin acquisition as of the beginning of the period presented (in thousands):


		For the Year Ended
		31-Dec-13
		(unaudited)
Revenues		$	71,098
Revenues		$	71,098
Net loss and comprehensive loss		$	(20,699	)
Basic and diluted loss per share		$	(0.47	)
On March 6, 2014, the Company, through a wholly-owned subsidiary, sold its 47.65% membership interest in one of the Paladin joint ventures, FPA/PRIP Governor Park, LLC ("Governor Park"), to its joint venture partner, FPA Governor Park Associates, LLC for $456,000. The sale price approximated the fair value, therefore no gain or loss was recognized on the transaction.
The allocation of the purchase price for the interests in the 11 Paladin joint ventures, which was completed during the year ended December 31, 2014, is included below (in thousands):


Multifamily		Land				Building				Intangible				Fair Value				Other Assets				Liabilities				Non-controlling				Total				Goodwill				Allocation of
Community Name						and				Assets				of												Interest				Company								Purchase
						Improvements								Property																Equity								Price
Champion Farms		$	3,168			$	23,464			$	579			$	27,211			$	575			$	(17,015	)		$	(3,231	)		$	7,540			$	171			$	7,711
Champion Farms		$	3,168			$	23,464			$	579			$	27,211			$	575			$	(17,015	)		$	(3,231	)		$	7,540			$	171			$	7,711
Fieldstone		1,420				18,472				648				20,540				661				(16,462		)		(806		)		3,933				130				4,063
Fieldstone		1,420				18,472				648				20,540				661				(16,462		)		(806		)		3,933				130				4,063
Pinehurst		1,250				8,241				290				9,781				332				(4,548		)		(139		)		5,426				72				5,498
Pinehurst		1,250				8,241				290				9,781				332				(4,548		)		(139		)		5,426				72				5,498
Pheasant Run		800				10,798				317				11,915				472				(6,559		)		(146		)		5,682				76				5,758
Pheasant Run		800				10,798				317				11,915				472				(6,559		)		(146		)		5,682				76				5,758
Retreat at Shawnee		3,200				14,550				608				18,358				686				(14,088		)		(124		)		4,832				117				4,949
Retreat at Shawnee		3,200				14,550				608				18,358				686				(14,088		)		(124		)		4,832				117				4,949
Hilltop Village		800				4,289				195				5,284				267				(4,612		)		(479		)		460				34				494
Hilltop Village		800				4,289				195				5,284				267				(4,612		)		(479		)		460				34				494
Conifer Place		5,040				28,712				1,007				34,759				749				(28,776		)		(3,869		)		2,863				219				3,082
Conifer Place		5,040				28,712				1,007				34,759				749				(28,776		)		(3,869		)		2,863				219				3,082
Stone Ridge		1,300				4,612				326				6,238				984				(178		)		(2,218		)		4,827				41				4,868
Stone Ridge		1,300				4,612				326				6,238				984				(178		)		(2,218		)		4,827				41				4,868
Evergreen at Coursey Place		3,430				38,041				1,080				42,551				1,210				(28,844		)		(7,200		)		7,717				268				7,985
Evergreen at Coursey Place		3,430				38,041				1,080				42,551				1,210				(28,844		)		(7,200		)		7,717				268				7,985
Pines of York		4,464				16,340				715				21,519				816				(15,446		)		(689		)		6,200				136				6,336
Pines of York		4,464				16,340				715				21,519				816				(15,446		)		(689		)		6,200				136				6,336
		$	24,872			$	167,519			$	5,765			$	198,156			$	6,752			$	(136,528	)		$	(18,901	)		$	49,480			$	1,264			$	50,744
		$	24,872			$	167,519			$	5,765			$	198,156			$	6,752			$	(136,528	)		$	(18,901	)		$	49,480			$	1,264			$	50,744
Governor Park																																						456
(sold March 6, 2014)																																						456
Total purchase price																																						$	51,200
Total purchase price																																						$	51,200
On March 31, 2014, the Company purchased the remaining 48.3% ownership interest in Evergreen at Coursey Place ("Coursey Place") from its joint venture partner for $7.5 million. A summary of the transaction is as follows (in thousands):


Purchase price		$	7,500
Purchase price		$	7,500

Noncontrolling interest assumed		$	7,200
Noncontrolling interest assumed		$	7,200
Losses attributable to noncontrolling interest		(191		)
Distribution to noncontrolling interest		(116		)
Adjusted noncontrolling interest balance		6,893
Adjusted noncontrolling interest balance		6,893
Adjustment to additional paid in capital		$	(607	)

On July 1, 2014, the Company purchased the remaining 2.5% ownership interest in Pinehurst, Pheasant Run and Retreat at Shawnee from its joint venture partner for a total of $1.1 million. A summary of the transactions is as follows (in thousands):


		Pinehurst				Pheasant Run				Retreat at Shawnee
Purchase price		$	570			$	515			$	15
Purchase price		$	570			$	515			$	15

Noncontrolling interests assumed		139				146				124
Noncontrolling interests assumed		139				146				124
Losses attributable to noncontrolling interests		(7		)		(8		)		(15		)
Adjusted noncontrolling interest balance		132				138				109
Adjusted noncontrolling interest balance		132				138				109
Adjustment to additional paid in capital		$	(438	)		$	(377	)		$	94
Adjustment to additional paid in capital		$	(438	)		$	(377	)		$	94

In July 2014, the Company contributed $1.1 million to the joint venture partnership that owns Stone Ridge. The joint venture partner did not contribute its pro-rata share, which resulted in a reduction of its partnership interest. As a result, the Company obtained an additional 9.2% interest in the joint venture, increasing its ownership interest to 77.7% at December 31, 2014.

In November 2014, the Company purchased the remaining 10% ownership interest in Pines of York from its joint venture partner for $900,000. A summary of the transaction is as follows (in thousands):



		Pines of York
Purchase price		$	900
Purchase price		$	900

Noncontrolling interests assumed		690
Noncontrolling interests assumed		690
Losses attributable to noncontrolling interests		(98		)
Adjusted noncontrolling interest balance		592
Adjusted noncontrolling interest balance		592
Adjustment to additional paid in capital		$	(308	)

The table below summarizes the total revenues, net losses, and acquisition costs of the Company's acquisitions during the year ended December 31, 2014 (dollars in thousands):



Multifamily Community	Total Revenues				Net Loss				Acquisition Costs
Woodmoor (1)	$	—			$	—			$	(66	)
Woodmoor (1)	$	—			$	—			$	(66	)
Parkridge Place	1,445				(1,234		)		(1,290		)
Parkridge Place	1,445				(1,234		)		(1,290		)
Sunset Ridge	1,214				(1,216		)		(968		)
Sunset Ridge	1,214				(1,216		)		(968		)
Merrywood	1,718				(1,144		)		(832		)
Merrywood	1,718				(1,144		)		(832		)
Berkeley Trace	1,172				(1,024		)		(606		)
Berkeley Trace	1,172				(1,024		)		(606		)
Berkeley Run	1,501				(1,272		)		(748		)
Berkeley Run	1,501				(1,272		)		(748		)
Chisholm Place	1,196				(1,042		)		(494		)
Chisholm Place	1,196				(1,042		)		(494		)
Addison Place	4,828				(3,287		)		(1,720		)
Addison Place	4,828				(3,287		)		(1,720		)
Paladin Properties	22,645				(10,190		)		(3,109		)
Paladin Properties	22,645				(10,190		)		(3,109		)
	$	35,719			$	(20,409	)		$	(9,833	)
	$	35,719			$	(20,409	)		$	(9,833	)





-1	Acquisition that was completed during the first quarter of fiscal 2015.

MEASUREMENT_PERIOD_ADJUSTMENTS

MEASUREMENT PERIOD ADJUSTMENTS	12 Months Ended
	Dec. 31, 2014
Accounting Changes and Error Corrections [Abstract]
MEASUREMENT PERIOD ADJUSTMENTS	MEASUREMENT PERIOD ADJUSTMENTS
	The Company obtains third party appraisals for all of its acquisitions. If the appraisals are not finalized in the period in which the property or interest was acquired, a measurement period adjustment is recorded. The measurement period adjustment for the Deerfield acquisition was finalized during the year ended December 31, 2013. For the Addison Place acquisition, which was completed in the three months ended March 31, 2014, the measurement period adjustments were finalized during the three months ended June 30, 2014. For the Paladin acquisition, which was completed in the three months ended March 31, 2014, the measurement period adjustments were finalized during the three months ended December 31, 2014.
	On January 22, 2013, the Company took title to Deerfield after foreclosing on the Deerfield Note, which was originally acquired by the Company for $10.3 million. In completing the accounting for the acquisition of Deerfield, the Company determined that the fair value of the net assets acquired exceeded the fair value of the consideration paid for this acquisition. Accordingly, the Company retrospectively adjusted the provisional amounts with respect to the Deerfield acquisition that were recognized at the acquisition date to reflect new information from the completed third party appraisal report that, if known at the acquisition date, would have affected the measurement of the amounts recognized as of that date. The final purchase price adjustment recorded during the measurement period resulted in a gain on foreclosure of $3.4 million on the Deerfield acquisition. Those changes are reflected in the table below (in thousands):


		22-Jan-13			Measurement			22-Jan-13
		(As initially reported)			period adjustment			(As adjusted)
	Land	$	1,028		$	632		$	1,660

	Building	8,592			2,518			11,110

	Personal property	—			500			500

	Intangible assets	680			(257		)	423

	Identifiable net assets	10,300			3,393			13,693

	Gain on foreclosure	—			(3,393		)	—

	Total net identifiable net assets	$	10,300		$	—		$	13,693

	Changes in the Paladin and Addison Place acquisitions are reflected in the tables below (in thousands):
	Paladin


		28-Jan-14			Measurement			28-Jan-14
		(As initially reported)			period adjustment (1)			(As adjusted)
	Land	$	44,292		$	(19,420	)	$	24,872

	Building	149,155			18,364			167,519

	Personal property	—			3,530			3,530

	Intangible assets	5,861			(96		)	5,765

	Other assets	3,231			(9		)	3,222

	Goodwill	6,412			(5,148		)	1,264

	Liabilities	(140,970		)	4,442			(136,528		)

	Total net identifiable net assets	$	67,981		$	1,663		$	69,644





	-1	Remaining balance ($1.7 million) of measurement period adjustments impacted the noncontrolling interest balance.

	The results of operations for the three months ended June 30, 2014 include an additional $867,000 of depreciation and amortization that would have been included in the three months ended March 31, 2014 had the final appraisals for the Paladin properties been received and recorded during that period.
	Addison Place


		28-Mar-14			Measurement			28-Mar-14
		(As initially reported)			period adjustment			(As adjusted)
	Land	$	18,137		$	(11,784	)	$	6,353

	Building	51,843			10,406			62,249

	Personal property	—			509			509

	Intangible assets	520			869			1,389

	Total net identifiable net assets	$	70,500		$	—		$	70,500


The measurement period adjustment for Addison Place had no impact on depreciation and amortization for the three months ended March 31, 2014.

DISPOSITION_OF_PROPERTIES_AND_

DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS	DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS
	In accordance with new accounting guidance for discontinued operations (see Note 2), the Company included the net gains on dispositions of assets in loss from continuing operations on the consolidated statements of operations and comprehensive loss for the year ended December 31, 2014.
	The Company sold the Campus Club Apartments on June 16, 2014 for $10.5 million and recognized a gain of $2.6 million on the disposition.
	The Company sold its 49% interest in one of the Paladin joint ventures, Parkhill Partners I, LLC ("Hilltop Village"), on July 1, 2014 to its joint venture partner for no consideration and recognized a loss on the sale of $492,582.
	The Company sold the Arcadia at Westheimer Apartments on September 19, 2014 for $18.1 million and recognized a gain of $8.3 million on the disposition.
	Prior to implementing the new accounting guidance for discontinue operations, the Company reported its property dispositions as discontinued operations. Assuming no significant continuing involvement by the Company after the sale, the sale of property was considered a discontinued operation. Included in discontinued operations for the year ended December 31, 2013 are the operating results of the two properties discussed below.
	The Company sold the Heatherwood Apartments, which was originally obtained through foreclosure in February 2012, to an unaffiliated purchaser for $1.0 million on April 18, 2013 and recognized a loss on disposition of $31,000. The Company provided the purchaser with financing for $800,000 and the purchaser paid cash of $200,000 in connection with the disposition.
	The Company sold the Town Park Apartments to an unaffiliated purchaser on April 30, 2013 for $10.3 million and recognized a gain of $3.2 million on disposition.
	The results of discontinued operations are summarized for the year ended December 31, 2013 as follows (in thousands):


		Year Ended
		December 31,
		2013
	Revenues:
	Rental income	$	1,082

	Total revenues	1,082


	Expenses:

	Rental operating	814

	Management fees	62

	General and administrative	227

	Loss on property impairment	539

	Depreciation and amortization expense	141

	Total expenses	1,783

	Income (loss) from discontinued operations	(701		)
	Net gain on dispositions	3,173

	Income from discontinued operations, net	$	2,472


	Weighted average common shares outstanding	39,284


	Income from discontinued operations, net, per common share	$	0.06

IDENTIFIED_INTANGIBLE_ASSETS_N

IDENTIFIED INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
IDENTIFIED INTANGIBLE ASSETS, NET	IDENTIFIED INTANGIBLE ASSETS, NET
	Identified intangible assets, net, consist of rental and antennae leases. The value of the acquired in-place leases totaled $2.1 million and $5.2 million as of December 31, 2014 and 2013, respectively, net of accumulated amortization of $26.5 million and $11.5 million, respectively. The weighted-average remaining life of the rental leases is 5 months and 6 months as of December 31, 2014 and 2013, respectively. Expected amortization for the antennae leases at the Vista Apartment Homes is $16,000 annually through 2025. Amortization of the rental and antennae leases for the years ended December 31, 2014 and 2013 was $15.0 million and $6.6 million, respectively.
	Expected amortization for the rental and antennae leases for the next five years ending December 31, and thereafter, is as follows (in thousands):


	2015	$	1,919

	2016	16

	2017	16

	2018	16

	2019	16

	Thereafter	98

		$	2,081

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL

	The table below presents a rollforward of the activity in goodwill for the year ended December 31, 2014:


	Balance, January 1, 2014	$	—

	Acquisition of Paladin joint venture interests	6,412

	Measurement period adjustments	(5,148		)
	Disposition of Hilltop	(33		)
	Balance, December 31, 2014	$	1,231

MORTGAGE_NOTES_PAYABLE

MORTGAGE NOTES PAYABLE	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
MORTGAGE NOTES PAYABLE	MORTGAGE NOTES PAYABLE
	The following is a summary of the mortgage notes payable (in thousands, except percentages):


					Fair Value Adjustment			Net Book Value		Outstanding borrowings
			Outstanding borrowings
	Collateral		31-Dec-14							December 31,		Maturity	Margin	Annual			Average
										2013		Date		Interest Rate			Monthly Debt
																	Service
	Vista Apartment Homes		$	15,900	$	—		$	15,900	$8,846		1/1/22	2.29%	2.46	%	(1)(3)(6)	$	63

	Cannery Lofts		8,190		—			8,190		8,190		9/1/20	3.30%	3.47	%	(1)(3)	35

	Deerfield		10,530		—			10,530		10,530		11/1/20	—	4.66	%	(2)(3)	52

	Ivy at Clear Creek		8,574		—			8,574		8,586		11/1/23	2.41%	2.58	%	(1)(4)	29

	Trailpoint at the Woodlands		19,335		—			19,335		19,362		11/1/23	2.41%	2.58	%	(1)(4)	66

	Verona Apartment Homes		22,843		—			22,843		23,235		1/1/19	—	3.6	%	(2)(5)	106

	Skyview Apartment Homes		18,446		—			18,446		18,762		1/1/19	—	3.6	%	(2)(5)	85

	The Nesbit Palisades		20,298		—			20,298		—		7/1/24	1.95%	2.12	%	(1)(3)	52

	Maxwell Townhomes		14,089		—			14,089		14,300		1/1/22	—	4.32	%	(2)(5)	71

	Champion Farms		16,350		284			16,634		—		7/1/16	—	6.14	%	(2)(3)	85

	Fieldstone		15,804		—			15,804		—		6/26/16	2.40%	2.57	%	(1)(4)(6)	73

	Pinehurst		4,212		27			4,239		—		1/1/16	—	5.58	%	(2)(5)	28

	Pheasant Run		6,250		157			6,407		—		10/1/17	—	5.95	%	(2)(3)	31

	Retreat of Shawnee		13,278		244			13,522		—		2/1/18	—	5.58	%	(2)(5)	78

	Conifer Crossing		27,552		210			27,762		—		9/1/15	—	5.96	%	(2)(3)	171

	Coursey Place		27,970		147			28,117		—		8/1/21	—	5.07	%	(2)(5)	154

	Pines of York		15,525		(428		)	15,097		—		12/1/21	—	4.46	%	(2)(5)	80

	Addison Place		50,000		—			50,000		—		7/1/20	—	3.38	%	(2)(3)	198

	Chisholm Place		11,587		—			11,587		—		6/1/24	2.39%	2.56	%	(1)(3)	35

	Berkeley Trace		14,211		—			14,211		—		7/1/19	—	3.42	%	(2)(5)	64

	Berkeley Run		18,007		—			18,007		—		7/1/19	—	3.42	%	(2)(5)	81

	Merrywood		24,162		—			24,162		—		10/1/21	—	4.34	%	(2)(5)	120

	Sunset Ridge 1		20,527		403			20,930		—		10/1/20	—	4.58	%	(2)(5)	113

	Sunset Ridge 2		3,055		54			3,109		—		10/1/20	—	4.54	%	(2)(5)	16

	Parkridge Place		36,375		—			36,375		—		12/1/21	—	3.87	%	(2)(5)	171

			$	443,070	$	1,098		$	444,168	$	111,811





-1	Variable rate based on one-month LIBOR of 0.17125% (as of December 31, 2014).

-2	Fixed rate.
(3) Monthly interest-only payment currently required.
(4) Monthly fixed principal plus interest payment required.
(5) Fixed monthly principal and interest payment required.

-6	Refinanced during the year ended December 31, 2014.
Loans assumed as part of the Paladin, Sunset Ridge and Maxwell acquisitions were recorded at fair value. The fair value adjustment is amortized over the remaining term of the loans and included in interest expense. For the year ended December 31, 2014, interest expense was reduced by $598,000 for the amortization of the fair value adjustment.
All mortgage notes are collateralized by a first mortgage lien on the assets of the respective property as named in the table above. The amount outstanding on the mortgages may be prepaid in full during the entire term with a prepayment penalty on the majority of mortgages held.
As of December 31, 2014 and 2013, the Company had $6.9 million and $1.5 million of restricted cash related to escrow deposits held by mortgage lenders for real estate taxes, insurance and capital reserves.
Annual principal payments on the mortgage notes payable for each of the next five years ending December 31 and thereafter are as follows (in thousands):


2015		$	32,986

2016		41,506

2017		12,782

2018		19,475

2019		73,195

Thereafter		263,126

		$	443,070

The mortgage notes payable are recourse only with respect to the properties that secure the notes, subject to certain limited standard exceptions, as defined in each mortgage note. The Company has guaranteed the mortgage notes by executing a guarantee with respect to the properties. These exceptions are referred to as “carveouts.” In general, carveouts relate to damages suffered by the lender for a borrower’s failure to pay rents, insurance or condemnation proceeds to lender, failure to pay water, sewer and other public assessments or charges, failure to pay environmental compliance costs or to deliver books and records, in each case as required in the loan documents. The exceptions also require the Company to guarantee payment of audit costs, lender’s enforcement of its rights under the loan documents and payment of the loan if the borrower voluntarily files for bankruptcy or seeks reorganization, or if a related party of the borrower does so with respect to the subsidiary. The Company has also guaranteed the completion and payment of costs of completion of no less than $7.0 million of renovations to Addison Place by July 1, 2018.
For the Fieldstone mortgage, beginning with the calendar quarter ended December 31, 2014, the property must maintain a certain level of debt service coverage. The Company was in compliance with all debt covenants for the Fieldstone mortgage at December 31, 2014.

CREDIT_FACILITIES

CREDIT FACILITIES	12 Months Ended
CREDIT FACILITIES	Dec. 31, 2014
Line of Credit Facility [Abstract]
CREDIT FACILITIES	CREDIT FACILITIES
	The following is a summary of the credit facilities (in thousands, except percentages):


			Balance Outstanding at		Current Availability at		Balance Outstanding at						Weighted Average Interest Rate for the Year Ended
	Lender		December 31, 2014				December 31, 2013		Maturity	Interest Rate Basis (1)	Current Interest Rate		December 31,		December 31,
	Lender		December 31, 2014				December 31, 2013		Date	Interest Rate Basis (1)	Current Interest Rate		2014		2013
	Bank of America		$	10,086	$	30,000	$	1,541	5/23/17	LIBOR plus 3%	3.17	%	3.11	%	3.25	%
	Bank of America		$	10,086	$	30,000	$	1,541	5/23/17	LIBOR plus 3%	3.17	%	3.11	%	3.25	%
	US Bank		23,000		—		23,000		12/27/17	LIBOR plus 1.95%	2.12	%	2.17	%	—	%
	US Bank		23,000		—		23,000		12/27/17	LIBOR plus 1.95%	2.12	%	2.17	%	—	%
	PNC Bank		12,500		—		12,500		12/20/18	LIBOR plus 2%	2.17	%	2.19	%	—	%
	PNC Bank		12,500		—		12,500		12/20/18	LIBOR plus 2%	2.17	%	2.19	%	—	%
			$	45,586	$	30,000	$	37,041
			$	45,586	$	30,000	$	37,041




	-1	Variable rate based on one-month LIBOR of 0.17125% (as of December 31, 2014).
	On December 2, 2011, the Company, through the Operating Partnership, entered into a secured revolving credit facility (the “Bank of America Credit Facility”) with Bank of America, N.A. (“Bank of America”). On May 23, 2013 the Company amended the Bank of America Credit Facility to increase the amount it may borrow from $25 million to $50 million (the “Facility Amount”). Draws under the Bank of America Credit Facility are secured by certain of the Company's properties with an aggregate value of $87.5 million and are guaranteed by the Company. The Company paid certain closing costs in connection with the Bank of America Credit Facility, including loan fees totaling $413,305.
	The Bank of America Credit Facility, as amended, matures on May 23, 2017, and may be extended to May 23, 2019 subject to satisfaction of certain conditions and payment of an extension fee equal to 0.25% of the amount committed. The Company is required to make monthly interest-only payments. The Company also may prepay the Bank of America Credit Facility in whole or in part at any time without premium or penalty. For the years ended December 31, 2014 and 2013, the Company had weighted average borrowings of $9.0 million and $839,000 under the Bank of America Credit Facility.
	The Operating Partnership's obligations with respect to the Bank of America Credit Facility are guaranteed by the Company, pursuant to the terms of a guaranty dated as of December 2, 2011, or the Guaranty. The Bank of America Credit Facility and the Guaranty contain restrictive covenants for maintaining a certain tangible net worth and a certain level of liquid assets, and for restricting the securing of additional debt as follows:

	•	the Company must maintain a minimum tangible net worth equal to at least (i) 200% of the outstanding principal amount of the Bank of America Credit facility and (ii) $20.0 million;

	•	the Company must also maintain unencumbered liquid assets with a market value of not less than the greater of (i) $5.0 million or (ii) 20% of the outstanding principal amount of the Bank of America Credit Facility; and

	•	the Company may not incur any additional secured or unsecured debt without Bank of America's prior written consent and approval, which consent and approval is not to be unreasonably withheld.
	The Company was in compliance with all such covenants at December 31, 2014 and 2013.
	On December 20, 2013, the Company, through a wholly-owned subsidiary, entered into a secured revolving credit facility, ("Jefferson Point Credit Facility") with PNC Bank, National Association for $15 million. Draws under the Jefferson Point Credit Facility are secured by the assets of Tech Center Square Apartments (formerly known as the Jefferson Point Apartments). The Company provided a repayment guarantee of all interest and scheduled monthly principal payments (excluding the final payment at maturity for the outstanding balance.) The Company paid certain closing costs in connection with the Jefferson Point Credit Facility, including loan fees totaling $75,000.
	The Jefferson Point Credit Facility includes both a debt service coverage covenant and a tangible net worth covenant. In November 2014, the Company amended the Jefferson Point Credit Facility. In accordance with the amendment, the debt service coverage covenant is only required to be complied with as of December 31, 2015 and periods thereafter. The Company was in compliance with all covenants at December 31, 2014.
	On December 27, 2013, the Company, through a wholly-owned subsidiary, entered into a secured revolving credit facility, ("Brentdale Credit Facility") with U.S. Bank National Association for $29.7 million. Draws under the Brentdale Credit Facility are secured by the assets of Brentdale Apartments. The Company provided a $6.5 million repayment guarantee. The Brentdale Credit Facility matures on December 27, 2017, and may be extended to December 27, 2019 subject to satisfaction of certain conditions and payment of an extension fee equal to 0.25% of the amount committed under the Brentdale Credit Facility. The Company paid certain closing costs in connection with the Brentdale Credit Facility, including loan fees totaling $222,000.
	The Brentdale Credit Facility includes both a net worth, liquidity and leverage covenant and a property debt service coverage covenant. The Company was in compliance with the requirements at December 31, 2014. The property debt service coverage covenant is only required to be met after January 1, 2015.
	Annual principal payments on the revolving credit facilities for each of the next five years ending December 31 and thereafter are as follows (in thousands):


	2015		$	—
	2015		$	—
	2016		—
	2016		—
	2017		33,701
	2017		33,701
	2018		11,885
	2018		11,885
	2019		—
	2019		—
	Thereafter		—
	Thereafter		—
			$	45,586
			$	45,586

DEFERRED_FINANCING_COSTS

DEFERRED FINANCING COSTS	12 Months Ended
	Dec. 31, 2014
DEFERRED FINANCING COSTS [Abstract]
DEFERRED FINANCING COSTS	DEFERRED FINANCING COSTS
	Deferred financing costs incurred to obtain financing are amortized over the term of the related debt. During the years ended December 31, 2014 and 2013, $1.4 million and $169,000, respectively, of amortization of deferred financing costs was included in interest expense. Accumulated amortization as of December 31, 2014 and 2013 was approximately $1.5 million and $419,000, respectively. Estimated amortization of the existing deferred financing costs for the next five years ending December 31, and thereafter are as follows (in thousands):


	2015	$	1,511

	2016	1,346

	2017	1,138

	2018	831

	2019	605

	Thereafter	961

		$	6,392

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

	The following table presents the changes in accumulated other comprehensive income (loss) for the years ended December 31, 2014 and 2013 (dollars in thousands):


		Net unrealized gain (loss) on derivatives

	1-Jan-13	$	—

	Unrealized gain on designated derivative	20

	31-Dec-13	$	20

	Unrealized loss on designated derivative	(286		)
	31-Dec-14	$	(266	)

CERTAIN_RELATIONSHIPS_AND_RELA

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS	CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
	In the ordinary course of its business operations, the Company has ongoing relationships with several related parties.
	Relationship with RAI
	Substantially all of the receivables from related parties represents escrow funds held by RAI for self insurance. The Company's properties participate in insurance pools with other properties directly and indirectly managed by RAI for both property insurance and general liability. RAI holds the escrow funds related to the insurance pool on its books. The insurance pool covers losses up to $2.5 million for property losses and $750,000 for general liability losses. Catastrophic insurance would cover property losses in excess of the insurance pool up to $85.0 million. Therefore, unforeseen or catastrophic losses in excess of the Company's insured limits could have a material adverse effect on the Company's financial condition and operating results.
	Relationship with the Advisor
	In September 2009, the Company entered into an advisory agreement (the “Advisory Agreement”) pursuant to which the Advisor provides the Company with investment management, administrative and related services. The Advisory Agreement was amended in January 2010 and further amended in January 2011. The Advisory Agreement has a one-year term and renews for an unlimited number of successive one-year terms upon the approval of the conflicts committee of the Company's board of directors. The Company renewed the advisory agreement for another year on September 15, 2014. Under the Advisory Agreement, the Advisor receives fees and is reimbursed for its expenses as set forth below:
	Acquisition fees. The Company pays the Advisor an acquisition fee of 2.0% of the cost of investments acquired on behalf of the Company, plus any capital expenditure reserves allocated, or the amount funded by the Company to acquire loans, including acquisition expenses and any debt attributable to such investments.
	Asset management fees. The Company pays the Advisor a monthly asset management fee equal to one-twelfth of 1.0% of the higher of the cost or the independently appraised value of each asset, without deduction for depreciation, bad debts or other non-cash reserves. The asset management fee is based only on the portion of the costs or value attributable to the Company’s investment in an asset if the Company does not own all or a majority of an asset and does not manage or control the asset.
	Disposition fees. The Advisor earns a disposition fee in connection with of the sale of a property equal to the lesser of one-half of the aggregate brokerage commission paid, or if none is paid, 2.75% of the contract sales price.
	Debt financing fees. The Advisor earns a debt financing fee equal to 0.5% of the amount available under any debt financing obtained for which it provided substantial services.
	Expense reimbursements. The Company also pays directly or reimburses the Advisor for all of the expenses paid or incurred by the Advisor or its affiliates on behalf of the Company or in connection with the services provided to the Company in relation to its public offering, including its ongoing distribution reinvestment plan offering. This includes all organization and offering costs of up to 2.5% of gross offering proceeds.
	Reimbursements also include expenses the Advisor incurs in connection with providing services to the Company, including the Company’s allocable share of costs for Advisor personnel and overhead, out of pocket expenses incurred in connection with the selection and acquisition of properties or other real estate related debt investments, whether or not the Company ultimately acquires the investment. However, the Company will not reimburse the Advisor or its affiliates for employee costs in connection with services for which the Advisor earns acquisition or disposition fees.
	Relationship with Resource Real Estate Opportunity Manager
	Resource Real Estate Opportunity Manager, LLC (the “Manager”), an affiliate of the Advisor, manages real estate properties and real estate-related debt investments and coordinates the leasing of, and manages construction activities related to, some of the Company’s real estate properties pursuant to the terms of the management agreement with the Manager.
	Property management fees. The Manager earns 4.5% of the gross receipts from the Company's properties, provided that for properties that are less than 75% occupied, the Manager receives a minimum fee for the first 12 months of ownership, for performing certain property management and leasing activities.
	Construction management fees. The Manager earns a construction management fee of 5.0% of actual aggregate costs to construct improvements, or to repair, rehab or reconstruct a property.
	Debt servicing fees. The Manager earns a debt servicing fee of 2.75% on payments received from loans held by the Company for investment.
	Expense reimbursement. During the ordinary course of business, the Manager or other affiliates of RAI may pay certain shared operating expenses on behalf of the Company.
	Relationship with Resource Securities
	Resource Securities, Inc. (“Resource Securities”), an affiliate of the Advisor, served as the Company’s dealer-manager and was responsible for marketing the Company’s shares in the primary portion of its public offering. Pursuant to the terms of the dealer-manager agreement with Resource Securities, the Company paid Resource Securities a selling commission of up to 7% of gross primary offering proceeds and a dealer-manager fee of up to 3% of gross primary offering proceeds.
	Resource Securities reallowed all selling commissions earned and up to 1% of the dealer-manager fee as a marketing fee to participating broker-dealers. No selling commissions or dealer-manager fees are earned by Resource Securities in connection with sales under the distribution reinvestment plan. Additionally, the Company could reimburse Resource Securities for bona fide due diligence expenses.
	Relationship with Other Related Parties
	The Company has also made payment for legal services to the law firm of Ledgewood P.C. (“Ledgewood”). Until 1996, the Chairman of RAI was of counsel to Ledgewood. In connection with the termination of his affiliation with Ledgewood and its redemption of his interest, the Chairman continues to receive certain payments from Ledgewood. Until March 2006, a current executive of RAI was the managing member of Ledgewood. This executive remained of counsel to Ledgewood through June 2007, at which time he became an Executive Vice President of RAI. In connection with his separation, this executive was entitled to receive payments from Ledgewood through 2013.
	The Company utilizes the services of a printing company, Graphic Images, LLC (“Graphic Images”), whose principal owner is the father of RAI’s Chief Financial Officer.
	The fees earned / expenses paid and the amounts payable to such related parties are summarized in the following tables (in thousands):


		As of December 31,
		2014			2013
	Receivables from related parties:
	RAI and affiliates	$	1,148		$	530


	Payables to related parties:
	Advisor:
	Operating expense reimbursements	$	327		$	775


	Resource Real Estate Opportunity Manager, LLC:
	Property management fees	436			266

	Operating expense reimbursements	743			500


	Resource Securities, Inc.
	Selling commissions and dealer manager fees	—			174


	Other	124			3

		$	1,630		$	1,718




		Years Ended
		December 31,
		2014			2013
	Fees earned / expenses paid to related parties:
	Advisor:
	Acquisition fees (1)	$	8,591		$	6,307

	Asset management fees (2)	$	7,262		$	2,660

Disposition fees (3)	$	422		$	116

Debt financing fees (4)	$	1,623		$	696

Organization and offering costs (5)	$	—		$	792

Overhead allocation (6)	$	2,227		$	839


Resource Real Estate Opportunity Manager LLC:
Property management fees (2)	$	3,661		$	1,891

Construction management fees (7)	$	1,685		$	940

Debt servicing fees (2)	$	8		$	6


Resource Securities, Inc.:
Selling commissions and dealer manager fees (5)	$	—		$	40,683


Other:
Ledgewood	$	143		$	266

Graphic Images	$	37		$	485




(1) Included in Acquisition costs on the consolidated statements of operations and comprehensive loss.
(2) Included in Management fees on the consolidated statements of operations and comprehensive loss.
(3) Included in Net gain on dispositions on the consolidated statements of operations and comprehensive loss.
(4) Included in Deferred financing costs, net on the consolidated balance sheets.
(5) Included in Stockholders' equity on the consolidated balance sheets.
(6) Included in General and administrative costs on the consolidated statements of operations and comprehensive loss.
(7) Included in Rental Properties, net on the consolidated balance sheets.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
EQUITY	EQUITY
	Preferred Stock
	The Company’s charter authorizes the Company to issue 10.0 million shares of its $0.01 par value preferred stock. As of December 31, 2014 and 2013, no shares of preferred stock were issued and outstanding.
	Common Stock
	As of December 31, 2014, the Company had issued an aggregate of 69,469,001 shares of its $0.01 par value common stock as follows (dollars in thousands):


			Shares Issued		Gross Proceeds
	Shares issued through private offering		1,263,727		$	12,582

	Shares issued through primary public offering (1)		62,485,461		622,077

	Shares issued through stock distributions		2,132,266		—

	Shares issued through distribution reinvestment plan		3,572,047		33,934

	Shares issued in conjunction with the Advisor's initial investment,		15,500		155
	net of 4,500 share conversion
	Total		69,469,001		$	668,748

	Shares redeemed		(214,836	)
	Total shares outstanding as of December 31, 2014		69,254,165




	(1) Includes 276,056 shares held by the Advisor.
	Convertible Stock
	As of December 31, 2014 and 2013, the Company had 50,000 shares of $0.01 par value convertible stock outstanding of which the Advisor and affiliated persons own 49,063 shares and outside investors own 937 shares. The convertible stock will convert into shares of the Company’s common stock upon the occurrence of (a) the Company having paid distributions to common stockholders that in the aggregate equal 100% of the price at which the Company originally sold the shares plus an amount sufficient to produce a 10% cumulative, non-compounded annual return on the shares at that price; or (b) if the Company lists its common stock on a national securities exchange and, on the 31st trading day after listing, the Company’s value based on the average trading price of its common stock since the listing, plus prior distributions, combine to meet the same 10% return threshold.
	Redemption of Securities
	During the year ended December 31, 2014, the Company redeemed 156,730 shares of its common stock. All redemption requests tendered were honored during the year ended December 31, 2014. The Company will not redeem in excess of 5% of the weighted-average number of shares outstanding during the 12-month period immediately prior to the effective date of redemption. The Company's board of directors will determine at least quarterly whether it has sufficient excess cash to repurchase shares. Generally, the cash available for redemptions will be limited to proceeds from the Company's distribution reinvestment plan plus, if the Company has positive operating cash flow from the previous fiscal year, 1% of all operating cash flow from the previous year.
	The Company's board of directors, in its sole discretion, may suspend, terminate or amend the Company's share redemption program without stockholder approval upon 30 days' notice if it determines that such suspension, termination or amendment is in the Company's best interest. The Company's board may also reduce the number of shares purchased under the share redemption program if it determines the funds otherwise available to fund the Company's share redemption program are needed for other purposes. These limitations apply to all redemptions, including redemptions sought upon a stockholder's death, qualifying disability or confinement to a long-term care facility.
	Distributions
	For the year ended December 31, 2014, the Company paid aggregate distributions of $32.9 million, including $10.0 million of distributions paid in cash and $22.9 million of distributions reinvested in shares of common stock through the Company's distribution reinvestment plan, as follows:


	Record Date		Per Common			Distribution Date		Distributions			Aggregate			Total
			Share					Invested in			Cash			Aggregate
								Shares of			Distribution			Distribution
								Common Stock
	December 31, 2013		$	0.03333		January 2, 2014		$	1,566		$	656		$	2,222

	January 31, 2014		0.03333			February 3, 2014		1,575			663			2,238

	February 28, 2014		0.03333			March 3, 2014		1,571			670			2,241

	March 31, 2014		0.03333			April 1, 2014		1,576			672			2,248

	April 30, 2014		0.03333			May 1, 2014		1,574			679			2,253

	May 30, 2014		0.03333			June 2, 2014		1,578			680			2,258

	June 30, 2014		0.03333			July 1, 2014		1,576			687			2,263

	July 31, 2014		0.03333			August 1, 2014		1,583			686			2,269

	August 31, 2014		0.03333			September 2, 2014		1,582			693			2,275

	September 30, 2014		0.03333			October 1, 2014		1,581			697			2,278

	October 31, 2014		0.05			October 31, 2014		2,371			1,055			3,426

	November 27, 2014		0.05			November 28, 2014		2,376			1,061			3,437

December 30, 2014		0.05			December 31, 2014		2,389			1,060			3,449

							$	22,898		$	9,959		$	32,857

At December 31, 2013, there was a stock dividend declared and was distributed on January 13, 2014 .
Since its formation, the Company has declared a total of seven quarterly stock distributions of 0.015 shares each, two quarterly stock distributions of 0.0075 shares each, one quarterly stock distribution of 0.00585 shares each, and two quarterly stock distributions of 0.005 shares each of its common stock outstanding. In connection with these stock distributions, the Company increased its accumulated deficit by $21.3 million as of December 31, 2014.

FAIR_VALUE_MEASURES_AND_DISCLO

FAIR VALUE MEASURES AND DISCLOSURES	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
FAIR VALUE MEASURES AND DISCLOSURES	FAIR VALUE MEASURES AND DISCLOSURES
	In analyzing the fair value of its investments accounted for on a fair value basis, the Company follows the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company determines fair value based on quoted prices when available or, if quoted prices are not available, through the use of alternative approaches, such as discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment. The fair value of cash, tenant receivables and accounts payable, approximate their carrying value due to their short nature. The hierarchy followed defines three levels of inputs that may be used to measure fair value:
	Level 1 - Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.
	Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability.
	Level 3 - Unobservable inputs that reflect the entity’s own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques.
	The determination of where an asset or liability falls in the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter; depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter. However, the Company expects that changes in classifications between levels will be rare.
	Rental properties obtained through a foreclosed note are measured at fair value on a non-recurring basis. The fair value of rental properties is usually estimated based on information obtained from a number of sources, including information obtained about each property as a result of pre-acquisition due diligence, marketing and leasing activities. The Company allocates the purchase price of properties to acquired tangible assets, consisting of land, buildings, fixtures and improvements, and identified intangible lease assets and liabilities, consisting of the value of above-market and below-market leases, as applicable, the value of in-place leases and the value of tenant relationships, based in each case on their fair values.
	Derivatives (interest rate caps), which are reported at fair value in the consolidated balance sheets, are valued by a third-party pricing agent using an income approach with models that use, as their primary inputs, readily observable market parameters. This valuation process considers factors including interest rate yield curves, time value, credit and volatility factors. (Level 2)
	The following table presents information about the Company's assets measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as follows (in thousands):


		Level 1			Level 2			Level 3			Total
	31-Dec-14
	Assets:
	Interest rate caps	$	—		$	114		$	—		$	114

		$	—		$	114		$	—		$	114


	31-Dec-13
	Assets:
	Interest rate caps	$	—		$	290		$	—		$	290

		$	—		$	290		$	—		$	290

	The following table presents information about the Company’s rental properties measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands):


		Level 1			Level 2			Level 3			Total
	For the year ended December 31, 2013:
	Assets:
	Deerfield	$	—		$	—		$	13,693		$	13,693

	Rental properties, net	$	—		$	—		$	13,693		$	13,693

	The carrying and fair values of the Company’s loans held for investment, net, preferred equity investment, mortgage note payable and revolving credit facilities, each of which were not carried at fair value on the consolidated balance sheets at December 31, 2014 and 2013, were as follows (in thousands):


		December 31, 2014						December 31, 2013
		Carrying			Fair			Carrying			Fair
		Amount			Value			Amount			Value
	Loans held for investment, net	$	1,523		$	1,523		$	1,724		$	1,724


	Preferred equity investment	$	3,462		$	3,462		$	—		$	—


	Mortgage notes payable	$	(444,168	)	$	(450,269	)	$	(111,811	)	$	(110,413	)

	Credit facilities	$	(45,586	)	$	(45,586	)	$	(37,041	)	$	(37,041	)
	The fair value of the loans held for investment, net, was estimated by comparing the recorded amount of the loan to the fair value of the collateral. On February 27, 2014, the Company foreclosed on the property securing the Peterson Note. On March 3, 2014, an offer to purchase the property was presented to the Company for $24,000 less than the carrying amount of the note. Accordingly, the Company has adjusted the carrying amount of the note at December 31, 2013 for such impairment.
	The fair value of the preferred equity investment is the same as its carrying value due to its recent acquisition.
	The fair value of the mortgage notes payable was estimated using rates available to the Company for debt with similar terms and remaining maturities.
	The fair values of the three credit facilities equal the carrying amounts because the interest rate of each of the credit facilities is variable.

DERIVATIVES_AND_HEDGING_ACTIVI

DERIVATIVES AND HEDGING ACTIVITIES

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings.

As a condition to certain of the Company’s financing facilities, from time to time the Company may be required to enter into certain derivative transactions as may be required by the lender. These transactions would generally be in line with the Company’s own risk management objectives and also service to protect the lender.

Cash Flow Hedges of Interest Rate Risk

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company entered into three and two interest rate caps that were designated as cash flow hedges during the years ended December 31, 2014 and 2013, respectively. Interest rate caps designated as cash flow hedges involve the receipt of variable amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium.

The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in Accumulated Other Comprehensive Income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the years end December 31, 2014 and 2013, such derivatives were used to hedge the variable cash flows, indexed to USD-LIBOR, associated with existing variable-rate loan agreements. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the year ended December 31, 2014 and 2013, the Company recorded no hedge ineffectiveness in earnings.

Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. During 2015, the Company estimates that $4,168 will be reclassified as an increase to interest expense.

As of December 31, 2014, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (dollars in thousands):

Interest Rate Derivative

Number of Instruments

Notional

Maturity Dates

Interest Rate Caps

75,733

January 1, 2018 to November 1, 2018

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2014 and 2013 (dollars in thousands):

Asset Derivatives

Liability Derivatives

31-Dec-14

31-Dec-13

31-Dec-14

31-Dec-13

Balance Sheet

Fair Value

Balance Sheet

Fair Value

Balance Sheet

Fair Value

Balance Sheet

Fair Value

Interest rate cap

114

Interest rate cap

290

—

OPERATING_EXPENSE_LIMITATION

OPERATING EXPENSE LIMITATION	12 Months Ended
OPERATING EXPENSE LIMITATION	Dec. 31, 2014
OPERATING EXPENSE LIMITATION WAIVER [Abstract]
OPERATING EXPENSE LIMITATION	OPERATING EXPENSE LIMITATION
OPERATING EXPENSE LIMITATION	Under its charter, the Company must limit its total operating expenses to the lesser of 2% of its average invested assets or 25% of its net income for the four most recently completed fiscal quarters, unless the conflicts committee of the Company’s board of directors has determined that such excess expenses were justified based on unusual and non-recurring factors. Operating expenses for the four quarters ended December 31, 2014 were in compliance with the charter imposed limitation.

GAIN_ON_INSURANCE_CLAIM

GAIN ON INSURANCE CLAIM	12 Months Ended
GAIN ON INSURANCE CLAIM	Dec. 31, 2014
GAINS ON INSURANCE CLAIMS [Abstract]
GAIN ON INSURANCE CLAIM	GAIN ON INSURANCE CLAIM
	One of the Paladin properties, Stone Ridge, had a large fire in 2013 which damaged 13 units. In 2014, the Company received $369,000 of proceeds from the insurance company, net of expenses due to the prior owners.
	The Company also received an additional $56,000 in proceeds from the insurer in 2014 for a fire that occurred at the Mosaic Apartments in 2013.

GAIN_ON_FORECLOSURES

GAIN ON FORECLOSURES	12 Months Ended
GAIN ON FORECLOSURES	Dec. 31, 2014
GAIN ON FORECLOSURE [Abstract]
GAIN ON FORECLOSURES	GAIN ON FORECLOSURES
GAIN ON FORECLOSURES	On January 22, 2013, the Company completed the foreclosure of Deerfield. The Company's fair value of the property exceeded the carrying value of the Deerfield Note by $3.4 million. After making adjustments to security deposits totaling $81,000, the Company recorded a net gain on foreclosure of $3.5 million.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	On January 26, 2015, the Company sold The Alcove Apartments located in Houston, Texas for $11.1 million and will recognize a gain in the first quarter of 2015 on the sale.
	On January 29, 2015, the Company sold 107th Avenue Apartments located in Omaha, Nebraska for $250,000 and will recognize a gain in the first fiscal quarter of 2015 on the sale.
	On February 26, 2015, the Company purchased The Woodmoor, a 208 unit multifamily apartment complex in Austin, Texas for $24.0 million and assumed a mortgage on the property of $12.9 million.
	On February 27, 2015, the Company sold the Redford Apartments in Houston, Texas for $32.3 million and will recognize a gain on the sale in the first quarter of 2015.
	On March 2, 2015, the Company sold the Cityside Apartments in Houston, Texas for $24.5 million and will recognize a gain on the sale in the first quarter of 2015.
	On March 19, 2015, the Company purchased The Springs at Gilbert Meadows, a 459 unit multifamily apartment complex in Gilbert, Arizona for $36.0 million.
	The Company has evaluated subsequent events and determined that no events have occurred, other than those disclosed above, which would require an adjustment to or additional disclosure in the consolidated financial statements.

SCHEDULE_III_Real_Estate_and_A

SCHEDULE III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III Real Estate and Accumulated Depreciation	RESOURCE REAL ESTATE OPPORTUNITY REIT, INC.
	SCHEDULE III
	Real Estate and Accumulated Depreciation
	31-Dec-14
	(dollars in thousands)

	Column A		Column B				Column C			Column D			Column E					Column F					Column G		Column H		Column I
	Description		Encumbrances				Initial cost to Company			Cost capitalized subsequent to acquisition			Gross Amount at which carried at close of period					Accumulated Depreciation					Date of Construction		Date Acquired		Life on which depreciation in latest income is computed
							Buildings and Land Improvements			Improvements Carrying Costs			Buildings and Land Improvements Total
	Real estate owned:
	Residential		$	—			$	221		$	18		$	239				$	(36	)			1961		8/18/10		3 - 27.5 years

	Omaha, NE
	Residential		15,900				11,076			4,103			15,179					(2,239		)			1961		6/17/11		3 - 27.5 years

	Philadelphia, PA
	Residential		—				9,570			11,156			20,726					(4,568		)			1979		3/27/12		3 - 27.5 years

	Houston, TX
	Residential		8,190				8,273			1,035			9,308					(1,107		)			1838		5/13/11		3 - 27.5 years

	Dayton, OH
	Residential		—				39,341			10,984			50,325					(6,811		)			1966		6/20/12		3 - 27.5 years

	Cincinnati, OH
	Residential		—				1,961			3,795			5,756					(729		)			1974		12/6/12		3 - 27.5 years

	Oklahoma City, OK
	Residential		—				1,938			1,560			3,498					(528		)			1974		12/7/12		3 - 27.5 years

	Memphis, TN
	Residential		—				13,662			1,327			14,989					(1,199		)			2000		12/19/12		3 - 27.5 years

	Houston, TX
	Residential		—				5,087			2,816			7,903					(1,071		)			1978		12/21/12		3 - 27.5 years

	Houston, TX
	Residential		10,530				9,620			4,800			14,420					(1,207		)			1993		1/22/13		3 - 27.5 years

	Hermantown, MN
	Residential		—				6,345			3,820			10,165					(1,173		)			1968		3/13/13		3 - 27.5 years

	Lexington, KY
	Residential		8,574				11,080			2,528			13,608					(1,108		)			1979		3/28/13		3 - 27.5 years

	Houston, TX
	Residential		—				8,064			2,893			10,957					(744		)			1986		4/18/13		3 - 27.5 years

	Hoover, AL
	Residential		19,335				26,496			3,026			29,522					(1,756		)			1981		6/24/13		3 - 27.5 years

	Houston, TX



	RESOURCE REAL ESTATE OPPORTUNITY REIT, INC.
	SCHEDULE III
	Real Estate and Accumulated Depreciation
	31-Dec-14
	(dollars in thousands)
	(Continued)


	Column A		Column B				Column C			Column D			Column E					Column F					Column G		Column H		Column I
Description		Encumbrances				Initial cost to Company			Cost capitalized subsequent to acquisition			Gross Amount at which carried at close of period					Accumulated Depreciation					Date of Construction		Date Acquired		Life on which depreciation in latest income is computed
						Buildings and Land Improvements			Improvements Carrying Costs			Buildings and Land Improvements Total
Residential		—				9,494			2,683			12,177					(771		)			1969		6/27/13		3 - 27.5 years

Winter Park, FL
Residential		—				31,001			3,382			34,383					(1,758		)			1984		7/25/13		3 - 27.5 years

Plano, TX
Residential		—				17,583			1,681			19,264					(1,004		)			1985		9/9/13		3 - 27.5 years

Newport News, VA
Residential		22,843				29,509			2,022			31,531					(1,268		)			1985		9/30/13		3 - 27.5 years

Littleton, CO
Residential		18,446				23,321			2,595			25,916					(1,082		)			1985		9/30/13		3 - 27.5 years

Westminster, CO
Residential		20,298				24,192			2,510			26,702					(957		)			1985		10/25/13		3 - 27.5 years

Alpharetta, GA
Residential		14,089				21,831			3,043			24,874					(1,002		)			1982		12/16/13		3 - 27.5 years

San Antonio, TX
Residential		—				32,142			250			32,392					(1,107		)			1988		12/20/13		3 - 27.5 years

Burnsville, MN
Residential(1)		16,634				26,632			370			27,002					(927		)			1998		1/28/14		3 - 27.5 years

Louisville, KY
Residential(1)		15,804				19,892			456			20,348					(750		)			1928		1/28/14		3 - 27.5 years

Woodlawn, OH
Residential(1)		27,762				33,752			518			34,270					(1,289		)			1981		1/28/14		3 - 27.5 years

Norcross, GA
Residential(1)		—				5,912			2,261			8,173					(342		)			1974		1/28/14		3 - 27.5 years

Columbia, SC
Residential		50,000				69,111			1,426			70,537					(1,939		)			1999		3/28/14		3 - 27.5 years

Alpharetta, GA





RESOURCE REAL ESTATE OPPORTUNITY REIT, INC.
SCHEDULE III
Real Estate and Accumulated Depreciation
31-Dec-14
(dollars in thousands)
(Continued)



Column A		Column B				Column C			Column D			Column E					Column F					Column G		Column H		Column I
Description		Encumbrances				Initial cost to Company			Cost capitalized subsequent to acquisition			Gross Amount at which carried at close of period					Accumulated Depreciation					Date of Construction		Date Acquired		Life on which depreciation in latest income is computed
						Buildings and Land Improvements			Improvements Carrying Costs			Buildings and Land Improvements Total
Residential		$	28,117			$	42,001		$	261		$	42,262				$	(1,601	)			2003		5/5/14		3 - 27.5 years

Baton Rouge, LA
Residential		11,587				14,562			(3		)	14,559					(376		)			1981		5/5/14		3 - 27.5 years

Plano, TX
Residential		18,007				28,911			287			29,198					(584		)			1995		5/19/14		3 - 27.5 years

Atlanta, GA
Residential		14,211				21,796			439			22,235					(421		)			1995		5/19/14		3 - 27.5 years

Atlanta, GA
Residential		24,162				31,385			(159		)	31,226					(545		)			2000		6/26/14		3 - 27.5 years

Katy, TX
Residential		13,523				18,250			768			19,018					(761		)			1984		7/1/14		3 - 27.5 years

Shawnee, KS
Residential		6,407				11,898			371			12,269					(523		)			1985		7/1/14		3 - 27.5 years

Lee's Summit, MO
Residential		4,239				9,691			453			10,144					(438		)			1983		7/1/14		3 - 27.5 years

Kansas City, MO
Residential		24,039				34,554			(353		)	34,201					(298		)			1949		9/4/14		3 - 27.5 years

San Antonio, TX
Residential		36,375				47,075			(508		)	46,567					(398		)			1984		9/29/14		3 - 27.5 years

Irving, TX
Residential		15,096				21,204			104			21,308					(716		)			1974		11/25/14		3 - 27.5 years

Yorktown, VA
		$	444,168			$	778,433		$	78,718		$	857,151		(2	)	$	(45,133	)	(2	)




(1) Acquired an interest in the property on 1/28/2014 with the Paladin merger.
(2) Includes properties held for sale at 12/31/2014.


RESOURCE REAL ESTATE OPPORTUNITY REIT, INC.
SCHEDULE III
Real Estate and Accumulated Depreciation
31-Dec-14
(dollars in thousands)
(Continued)



	Years Ended
	December 31,
	2014				2013
Balance, beginning of the period	$	406,149			$	126,640

Additions during period:
Acquisitions	436,626				255,149

Improvements, etc.	37,384				25,834

Dispositions during the period	(23,008		)		(1,474		)
Balance, at close of period	$	857,151			$	406,149

SCHEDULE_IV_Mortgage_Loans_on_

SCHEDULE IV Mortgage Loans on Real Estate	12 Months Ended
SCHEDULE IV Mortgage Loans on Real Estate	Dec. 31, 2014
Mortgage Loans on Real Estate [Abstract]
SCHEDULE IV Mortgage Loans on Real Estate	SCHEDULE IV
	Mortgage Loans on Real Estate
	31-Dec-14
	(dollars in thousands)



	Column A		Column B		Column C	Column D	Column E	Column F		Column G		Column H
	Description		Interest rate		Final maturity date	Periodic payment term	Prior liens	Face amount of mortgages		Carrying amount of mortgages		Principal amount of loans subject to delinquent principal or interest
	Residential		Fixed interest rate		10/28/21	N/A	N/A	$	1,058	$	747	$	—
	Columbia City, IN		of 7.5%		10/28/21	N/A	N/A	$	1,058	$	747	$	—

	Residential		Fixed interest rate		5/17/16	N/A	N/A	800		776		—
	Hermantown, MN		of 4%		5/17/16	N/A	N/A	800		776		—
								$	1,858	$	1,523	$	—
								$	1,858	$	1,523	$	—




		Year Ended
		December 31,
		2014
	Balance, beginning of the period	$	1,724
	Balance, beginning of the period	$	1,724
	Interest accretion	26
	Interest accretion	26
	Principal reductions	(227		)
	Balance, end of the period	$	1,523
	Balance, end of the period	$	1,523

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Principles of Consolidation	All intercompany accounts and transactions have been eliminated in consolidation.
	The consolidated financial statements reflect the Company's accounts and the accounts of the Company's majority-owned and/or controlled subsidiaries. The Company follows the provisions of Accounting Standards Codification (“ASC”) Topic 810, “Consolidation,” and accordingly consolidates entities that are variable interest entities (“VIEs”) where it has determined that it is the primary beneficiary of such entities. Once it has been determined that the Company holds a variable interest in a VIE, management performs a qualitative analysis to determine (i) if the Company has the power to direct the matters that most significantly impact the VIE's financial performance; and (ii) if the Company has the obligation to absorb the losses of the VIE that could potentially be significant to the VIE or the right to receive the benefits of the VIE that could potentially be significant to the VIE. If the Company's interest possesses both of these characteristics, the Company is deemed to be the primary beneficiary and would be required to consolidate the VIE. The Company will continually assess its involvement with VIEs and re-evaluate the requirement to consolidate them. Noncontrolling interests are presented and disclosed as a separate component of stockholders' equity (not as a liability or other item outside of stockholders' equity). Consolidated net income (loss) includes the noncontrolling interests’ share of income (loss). All changes in the Company’s ownership interest in a subsidiary are accounted for as stockholders' equity transactions if the Company retains its controlling financial interest in the subsidiary. The portions of these entities that the Company does not own are presented as noncontrolling interests as of the dates and for the periods presented in the consolidated financial statements.
Use of Estimates	Use of Estimates
	The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Assets Held for Sale	Assets Held for Sale
	The Company presents the assets and liabilities of any rental properties which have been sold, or otherwise qualify as held for sale, seperately in the Consolidated Balance Sheets. Real estate assets held for sale are measured at the lower of carrying amount or fair value less cost to sell. Both the real estate and the corresponding liabilities are presented separately in the Consolidated Balance Sheets. Subsequent to classification of an asset as held for sale, no further depreciation is recorded. The Company had three rental properties included in assets held for sale as of December 31, 2014.
Rental Properties	Rental Properties
	The Company records acquired rental properties at fair value. The Company considers the period of future benefit of an asset to determine its appropriate useful life and depreciates using the straight line method. The Company anticipates the estimated useful lives of its assets by class as follows:


	Buildings	27.5 years
	Building improvements	3.0 to 27.5 years
	Tenant improvements	Shorter of lease term or expected useful life
Concentration of Credit Risk	Concentration of Credit Risk
	Financial instruments, which potentially subject the Company to concentration of credit risk, consist of periodic temporary deposits of cash. At December 31, 2014, the Company had $142.6 million of deposits at various banks, $132.6 million of which were over the insurance limit of the Federal Deposit Insurance Corporation. No losses have been experienced on such deposits.
	As of December 31, 2014, the Company's real estate investments in Texas and Georgia represented approximately 32% and 22% of the net book value of its rental property assets, respectively. As a result, the geographic concentration of the Company's portfolio makes it particularly susceptible to adverse economic developments in the Texas and Georgia real estate markets. Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, industry slowdowns, relocations of businesses, changing demographics and other factors, or any decrease in demand for multifamily rentals resulting from the local business climate, could adversely affect the Company's operating results and its ability to make distributions to stockholders.
Impairment of Long-Lived Assets	Impairment of Long Lived Assets
	When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for permanent impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. The review also considers factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors.
	An impairment loss will be recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss would be the adjustment to fair value less the estimated cost to dispose of the asset.
Loans Held for Investment, Net	Loans Held for Investment, Net
	The Company records acquired performing loans held for investment at cost and reviews them for potential impairment at each balance sheet date. The Company considers a loan to be impaired if one of two conditions exists. The first condition is if, based on current information and events, management believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The second condition is if the loan is deemed to be a troubled-debt restructuring (“TDR”) where a concession has been given to a borrower in financial difficulty. A TDR may not have an associated specific loan loss allowance if the principal and interest amount is considered recoverable based on current market conditions, expected collateral performance and/or guarantees made by the borrowers.
	The amount of impairment, if any, is measured by comparing the recorded amount of the loan to the present value of the expected cash flows or, as a practical expedient, the fair value of the collateral. If a loan is deemed to be impaired, the Company records a reserve for loan losses through a charge to income for any shortfall.
	Interest income from performing loans held for investment is recognized based on the contractual terms of the loan agreement. Fees related to any buy down of the interest rate are deferred as prepaid interest income and amortized over the term of the loan as an adjustment to interest income. The initial investment made in a purchased performing loan includes the amount paid to the seller plus fees. The initial investment frequently differs from the related loan’s principal amount at the date of the purchase. The difference is recognized as an adjustment of the yield over the life of the loan. Closing costs related to the purchase of a performing loan held for investment are amortized over the term of the loan and accreted as an adjustment to interest income.
	The Company may acquire real estate loans at a discount due to the credit quality of such loans and the respective borrowers under such loans. Revenues from these loans are recorded under the effective interest method. Under this method, an effective interest rate (“EIR”) is applied to the cost basis of the real estate loan held for investment. The EIR that is calculated when the loan held for investment is acquired remains constant and is the basis for subsequent impairment testing and income recognition. However, if the amount and timing of future cash collections are not reasonably estimable, the Company accounts for the real estate receivable on the cost recovery method. Under the cost recovery method of accounting, no income is recognized until the basis of the loan held for investment has been fully recovered.
Preferred Equity Investment	Preferred Equity Investment
	The Company records preferred equity investments at cost and evaluates the collectibility of both interest and principal at each balance sheet date. A preferred equity investment is considered impaired, when based on current information and events, it is probable that the Company will not be able to collect all amounts due according to existing contractual terms. When an investment is impaired, the amount of the loss accrual is calculated by comparing the carrying amount of the investment to its estimated fair value. Fees paid, net of expenses, are deferred and recognized as an adjustment to interest and dividend income earned over the term of the agreement.
	Dividend income is recognized based on the contractual terms of the preferred equity agreement.
Allocation of Purchase Price of Acquired and Foreclosed Assets	Allocation of the Purchase Price of Acquired and Foreclosed Assets
	The cost of rental properties acquired directly as fee interests and through foreclosing on a loan are allocated to net tangible and intangible assets based on their relative fair values. The Company allocates the purchase price of properties to acquired tangible assets, consisting of land, buildings, fixtures and improvements, and to identified intangible lease assets and liabilities, consisting of the value of above-market and below-market leases, as applicable, the value of in-place leases and the value of tenant relationships. Fair value estimates are based on information obtained from a number of sources, including information obtained about each property as a result of pre-acquisition due diligence, marketing and leasing activities. In addition, the Company may obtain independent appraisal reports. The information in the appraisal reports along with the aforementioned information available to the Company's management is used in allocating the purchase price. The independent appraisers have no involvement in management's allocation decisions other than providing market information.
	In allocating the purchase price, management also includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up period. Management also estimates costs to execute similar leases, including leasing commissions and legal and other related expenses, to the extent that such costs have not already been incurred in connection with a new lease origination as part of the transaction.
	The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. The Company amortizes any capitalized above-market or below-market lease values as an increase or reduction to rental income over the remaining non-cancelable terms of the respective leases.
	The Company measures the aggregate value of other intangible assets acquired based on the difference between (i) the property valued with existing in-place leases adjusted to market rental rates and (ii) the property valued as if it were vacant. Management’s estimates of value are made using methods similar to those used by independent appraisers (e.g., discounted cash flow analysis). Factors to be considered by management in its analysis include an estimate of carrying costs during hypothetical expected lease-up periods considering current market conditions and costs to execute similar leases.
	The total amount of other intangible assets acquired is further allocated to customer relationship intangible values based on management’s evaluation of the specific characteristics of each tenant’s lease and the Company’s overall relationship with that respective tenant. Characteristics to be considered by management in allocating these values include the nature and extent of the Company’s existing relationships with the tenant, the tenant’s credit quality and expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors.
	The Company amortizes the value of in-place leases to expense over the average remaining term of the respective leases. The value of customer relationship intangibles are amortized to expense over the initial term and any renewal periods in the respective leases, but in no event will the amortization periods for the intangible assets exceed the remaining depreciable life of the building. Should a tenant terminate its lease, the unamortized portion of the in-place lease value and customer relationship intangibles associated with that tenant would be charged to expense in that period.
	The determination of the fair value of assets and liabilities acquired requires the use of significant assumptions with regard to current market rental rates, discount rates and other variables. The use of inappropriate estimates would result in an incorrect assessment of the purchase price allocations, which could impact the amount of the Company’s reported net income. Initial purchase price allocations are subject to change until all information is finalized, which is generally within one year of the acquisition date.
Goodwill	Goodwill

	The Company records the excess of the cost of an acquired entity over the difference between the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed as goodwill. Goodwill is not amortized but is tested for impairment at a level of reporting referred to as a reporting unit during the fourth quarter of each calendar year, or more frequently if events or changes in circumstances indicate that the asset might be impaired.
Revenue Recognition	Revenue Recognition
	The Company recognizes minimum rent, including rental abatements and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related lease and includes amounts expected to be received in later years in deferred rents. The Company records property operating expense reimbursements due from tenants for common area maintenance, real estate taxes and other recoverable costs in the period in which the related expenses are incurred.
Tenant Receivables	Tenant Receivables
	Tenant receivables are stated in the financial statements at amounts due from tenants net of an allowance for uncollectible receivables. Payment terms vary and receivables outstanding longer than the payment terms are considered past due. The Company determines its allowance by considering a number of factors, including the length of time receivables are past due, security deposits held, the Company’s previous loss history, the tenants’ current ability to pay their obligations to the Company, the condition of the general economy and the industry as a whole. The Company writes off receivables when they become uncollectible.
Deferred Offering Costs	Deferred Offering Costs
	Through December 31, 2013, the Advisor had advanced $4.6 million on behalf of the Company for the payment of public offering costs consisting of accounting, advertising, allocated payroll, due diligence, marketing, legal and similar costs. A portion of these costs was charged to equity upon the sale of each share of common stock sold under the public offering. Similarly, a portion of the proceeds received from the sales of shares in the Company's public offering was paid to the Advisor to reimburse it for the amount incurred on behalf of the Company. Deferred offering costs represent the portion of the total costs incurred that have not been charged to equity to date. As of December 31, 2014 and 2013, $4.6 million and $4.2 million, respectively, have been reimbursed to the Advisor.
Income Taxes	Income Taxes
	To maintain its REIT qualification for U.S. federal income tax purposes, the Company is generally required to distribute at least 90% of its taxable net income (excluding net capital gains) to its stockholders as well as comply with other requirements, including certain asset, income and stock ownership tests. As a REIT, the Company is not subject to federal corporate income tax to the extent the that it distributes 100% of its REIT taxable income each year. If the Company fails to qualify as a REIT, and does not qualify for certain statutory relief provisions, it is subject to U.S. federal, state and local income taxes and may be precluded from qualifying as a REIT for the subsequent four taxable years following the year in which it fails its REIT qualification. Accordingly, the Company’s failure to qualify as a REIT could have a material adverse impact on its results of operations and amounts available for distribution to its stockholders.
	The dividends-paid deduction of a REIT for qualifying dividends to its stockholders is computed using the Company’s taxable income as opposed to net income reported on the financial statements. Generally, taxable income differs from net income reported on the financial statements because the determination of taxable income is based on tax provisions and not financial accounting principles.
	The Company may elect to treat certain of its subsidiaries as a taxable REIT subsidiary (“TRS”). In general, the Company’s TRSs may hold assets and engage in activities that the Company cannot hold or engage in directly and generally may engage in any real estate or non-real estate-related business. A TRS is subject to U.S. federal, state and local corporate income taxes. As of December 31, 2014 and 2013, the Company had no TRSs.
	The Company evaluates the benefits from tax positions taken or expected to be taken in its tax return. Only the largest amount of benefits from tax positions that will more likely than not be sustainable upon examination are recognized by the Company. The Company does not have any unrecognized tax benefits, nor interest and penalties, recorded in its consolidated financial statements and does not anticipate significant adjustments to the total amount of unrecognized tax benefits within the next 12 months.
	The Company is subject to examination by the U.S. Internal Revenue Service and by the taxing authorities in other states in which the Company has significant business operations. The Company is not currently undergoing any examinations by taxing authorities.
Earnings Per Share	Earnings Per Share
	Basic earnings per share are calculated on the basis of the weighted-average number of common shares outstanding during the year. Basic earnings per share are computed by dividing income available to common stockholders by the weighted-average common shares outstanding during the period. Diluted earnings per share take into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted to common stock.
Reclassifications	Reclassifications
	Certain amounts in the prior year financial statements have been reclassified to conform to the current-year presentation. The impact of the reclassifications made to prior year amounts are not material and did not affect net income (loss).
Adoption of New Accounting Standard	Adoption of New Accounting Standard
	The Company early adopted the following accounting standard during 2014 which did not have a material impact on its presentation of its consolidated financial position, results of operations and cash flows:
	In April 2014, the Financial Accounting Standards Board, or FASB, issued authoritative guidance to change the criteria for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift in a company's operations and financial results should be reported as discontinued operations, with expanded disclosures. In addition, disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify as a discontinued operation is required. This guidance became effective for the Company as of January 1, 2014.
	Prior to January 1, 2014, the sale of rental properties were considered a discontinued operation assuming no significant continuing involvement by the Company.
	Accounting Standards Issued But Not Yet Effective
	In May 2014, FASB issued Accounting Standards Update (“ASU”)("ASU No. 2014-09"), “Revenue from Contracts with Customers”, which will replace most existing revenue recognition guidance in GAAP. The core principle of ASU No. 2014-09 is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. ASU No. 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. ASU No. 2014-09 will be effective for the Company beginning January 1, 2017, including interim periods in 2017, and allows for both retrospective and prospective methods of adoption. The Company is in the process of determining the method of adoption and assessing the impact of this guidance on the Company’s consolidated financial position, results of operations and cash flows.
	In August 2014, FASB issued ASU No. 2014-15, "Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern." Under the new guidance, an entity should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The guidance is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of the new requirements is not expected to have a material impact on the Company's consolidated balance sheet, statement of operations, or statement of cash flows.
	In January 2015, FASB issued ASU No. 2015-01, "Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items" (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items. Although the amendment will eliminate the requirements for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Wholly Owned Subsidiaries Information	The consolidated financial statements include the accounts of the Company's majority-owned and/or controlled subsidiaries as follows:


	Subsidiary		Ownership %		Apartment Complex		Number	Property Location
							of Units
	Springhurst Housing Partners, LLC		70%		Champion Farms		264	Louisville, KY
	Glenwood Housing Partners I, LLC		83%		Fieldstone		266	Woodlawn, OH
	FPA/PRIP Conifer, LLC		42.50%		Conifer Place		420	Norcross, GA
	DT Stone Ridge, LLC		77.70%		Stone Ridge		188	Columbia, SC
	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as follows:


	Subsidiary		Apartment Complex		Number		Property Location
					of Units
	RRE Opportunity Holdings, LLC		N/A		N/A		N/A

	Resource Real Estate Opportunity OP, LP		N/A		N/A		N/A

	RRE Charlemagne Holdings, LLC		N/A		N/A		N/A
	RRE 107th Avenue Holdings, LLC (“107th Avenue”)		107th Avenue		5		Omaha, NE

	RRE Westhollow Holdings, LLC (“Westhollow”)		Arcadia (b)		N/A		Houston, TX

	RRE Crestwood Holdings, LLC (“Crestwood”)		Town Park (a)(f)		N/A		Birmingham, AL

	RRE Iroquois, LP (“Vista”)		Vista Apartment Homes		133		Philadelphia, PA

	RRE Iroquois Holdings, LLC		N/A		N/A		N/A

	RRE Campus Club Holdings, LLC (“Campus Club”)		Campus Club (b)		N/A		Tampa, FL

	RRE Bristol Holdings, LLC (“Bristol”)		The Redford (e)		856		Houston, TX

	RRE Cannery Holdings, LLC (“Cannery”)		Cannery Lofts		156		Dayton, OH

	RRE Williamsburg Holdings, LLC (“Williamsburg”)		Williamsburg		976		Cincinnati, OH

	WPL Holdings, LLC		(c)		N/A		Cincinnati, Ohio

	RRE Skyview Holdings, LLC ("Skyview")		Cityside Crossing (e)		360		Houston, TX

	RRE Park Forest Holdings, LLC ("Park Forest")		Mosaic		216		Oklahoma City, OK

	RRE Foxwood Holdings, LLC ("Foxwood")		The Reserve at Mt. Moriah		220		Memphis, TN

	RRE Flagstone Holdings, LLC ("Flagstone")		The Alcove (e)		292		Houston, TX

	RRE Deerfield Holdings, LLC ("Deerfield")		Deerfield		166		Hermantown, MN

	RRE Kenwick Canterbury Holdings, LLC ("Kenwick & Canterbury")		One Hundred Chevy Chase Apartments		244		Lexington, KY

	RRE Armand Place Holdings, LLC ("Armand")		Ivy at Clear Creek		244		Houston, TX

	RRE Autumn Wood Holdings, LLC ("Autumn Wood")		Retreat at Rocky Ridge		206		Hoover, AL

	RRE Village Square Holdings, LLC ("Village Square")		Trailpoint at the Woodlands		271		Houston, TX

	RRE Nob Hill Holdings, LLC ("Nob Hill")		Affinity at Winter Park		192		Winter Park, FL

	RRE Brentdale Holdings, LLC ("Brentdale")		The Westside Apartments		412		Plano, TX

	RRE Jefferson Point Holdings, LLC ("Jefferson Point")		Tech Center Square		208		Newport News, VA

	RRE Centennial Holdings, LLC ("Centennial")		Verona Apartment Homes		276		Littleton, CO

RRE Pinnacle Holdings, LLC ("Pinnacle")		Skyview Apartment Homes		224		Westminster, CO

RRE Jasmine Holdings, LLC ("Jasmine")		The Nesbit Palisades		437		Alpharetta, GA

RRE River Oaks Holdings, LLC ("River Oaks")		Maxwell Townhomes		314		San Antonio, TX

RRE Nicollet Ridge Holdings, LLC ("Nicollet Ridge")		Meridian Pointe		339		Burnsville, MN

RRE Addison Place, LLC ("Addison Place")		Addison Place		403		Alpharetta, GA
PRIP Coursey, LLC ("Evergreen at Coursey Place")		Evergreen at Coursey Place (d)		352		Baton Rouge, LA
PRIP 3700, LLC ("Champion Farms")		N/A (d)		N/A		N/A


PRIP 10637, LLC ("Fieldstone")		N/A (d)		N/A		N/A
PRIP 500, LLC ("Pinehurst")		Pinehurst (d)		146		Kansas City, MO
PRIP 1102, LLC ("Pheasant Run")		Pheasant Run (d)		160		Lee's Summit, MO
PRIP 11128, LLC ("Retreat at Shawnee")		Retreat at Shawnee (d)		342		Shawnee, KS
PRIP 6700, LLC ("Hilltop Village")		Hilltop Village (b)		N/A		N/A
PRIP 3383, LLC ("Conifer Place")		N/A (d)		N/A		N/A
PRIP Stone Ridge, LLC ("Stone Ridge")		N/A (d)		N/A		N/A
PRIP Pines, LLC ("Pines of York")		Pines of York (d)		248		Yorktown, VA
PRIP 5060/6310, LLC ("Governor Park")		N/A (b) (d)		N/A		N/A
RRE Chisholm Place Holdings LLC ("Chisholm Place")		Chisholm Place		142		Plano, TX
RRE Berkeley Run Holdings, LLC ("Berkley Run")		Berkeley Run		194		Atlanta, GA
RRE Berkeley Trace Holdings LLC ("Berkley Trace")		Berkeley Trace		165		Atlanta, GA
RRE Merrywood LLC ("Merrywood")		Merrywood		228		Katy, TX
RRE Sunset Ridge Holdings, LLC ("Sunset Ridge")		Sunset Ridge		324		San Antonio, TX
RRE Parkridge Place Holdings, LLC ("Parkridge Place")		Parkridge Place		536		Irving, TX
RRE Spring Hill Holdings, LLC ("Spring Hill")		N/A		N/A		N/A
RRE Woodmoor Holdings, LLC ("Woodmoor")		N/A		N/A		N/A

N/A - Not Applicable
(a) - Discontinued operations
(b) - Sold in 2014.
(c) - Subsidiary holds a portion of the Williamsburg parking lot.
(d) - Wholly-owned subsidiary of RRE Charlemagne Holdings, LLC
(e) - Real estate assets included in Assets Held for Sale at December 31, 2014.
(f) - Sold in 2013.
Estimated Useful Lives of Assets	The Company anticipates the estimated useful lives of its assets by class as follows:


	Buildings	27.5 years
	Building improvements	3.0 to 27.5 years
	Tenant improvements	Shorter of lease term or expected useful life

SUPPLEMENTAL_CASH_FLOW_INFORMA1

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	The following table presents supplemental cash flow information (in thousands):


		Years Ended
		December 31,
		2014		2013
	Non-cash activities:
	Assets and liabilites assumed in acquisitions:
	Other assets assumed	$	3,231	$	48

	Debt assumed	158,061		14,300

	Other liabilities assumed	3,204		63

	Noncontrolling interests	18,901		—

	Rental properties, net	176,935		14,315


	Property and intangibles received on foreclosure of loans held for investment	—		10,150

	Financing provided for disposed property	—		800

	Stock issued from distribution reinvestment plan	22,899		9,984

	Stock distributions issued	3,333		8,221

	Cash distributions on common stock declared but not yet paid	—		2,222

	Deferred financing costs and escrow deposits funded directly by mortgage note and revolving credit facility	4,404		2,880


	Cash paid during the period for:
	Interest	$	12,832	$	537

RENTAL_PROPERTIES_NET_Tables

RENTAL PROPERTIES, NET (Tables)	12 Months Ended
	Dec. 31, 2014
Real Estate Investments, Net [Abstract]
Investments in Rental Properties	The Company’s investments in rental properties consisted of the following (in thousands):


		December 31,
		2014			2013


	Land	$	122,137		$	62,859

	Building and improvements	666,912			325,412

	Furniture, fixtures and equipment	21,495			17,051

	Construction in progress	3,005			827

		813,549			406,149

	Less: accumulated depreciation	(38,295		)	(15,776		)
		$	775,254		$	390,373

LOANS_HELD_FOR_INVESTMENT_NET_

LOANS HELD FOR INVESTMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2014
LOANS HELD FOR INVESTMENT, NET [Abstract]
Aging of Loans Held for Investment	The following table provides the aging of the Company’s loans held for investment (dollars in thousands):


			December 31, 2014					December 31, 2013
			Amount			Percent		Amount		Percent
	Current		$	1,523		100%		$	1,529	89%


	Delinquent:

	30−89 days		—			—%		195		11%

	90−180 days		—			—%		—		—%

	Greater than 180 days		—			—%		—		—%

			$	1,523		100%		$	1,724	100%

Credit Quality of Loans Held for Investment	The following table provides information about the credit quality of the Company’s loans held for investment, net, (in thousands):


		December 31,
		2014			2013
	Loans:
	Performing	$	1,523		$	1,529

	Nonperforming	—			195

	Total	$	1,523		$	1,724

Terms of Loans Held for Investment	The following table provides information about the terms of the Company's loans held for investment (dollars in thousands):


		Trail Ridge			Heatherwood
		Note			Sale Note
	Original Face value	$	1,058		$	800

	Current value at December 31, 2014	994			776

	Maturity date	10/28/21			5/17/16

	Interest rate	7.5		%	4		%
	Average monthly payment	$	8		$	11

ACQUISITIONS_AND_FORECLOSURES_

ACQUISITIONS AND FORECLOSURES (Tables)	12 Months Ended
ACQUISITIONS AND FORECLOSURES (Tables)	Dec. 31, 2014
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	A summary of the transaction is as follows (in thousands):



			Pines of York
	Purchase price		$	900
	Purchase price		$	900

	Noncontrolling interests assumed		690
	Noncontrolling interests assumed		690
	Losses attributable to noncontrolling interests		(98		)
	Adjusted noncontrolling interest balance		592
	Adjusted noncontrolling interest balance		592
	Adjustment to additional paid in capital		$	(308	)
	The table below summarizes these acquisitions and the respective fair values assigned, excluding non-wholly owned properties acquired through the Paladin merger (dollars in thousands):



	Multifamily		City and State		Date of		Purchase					Land				Building and Improvements				Furniture, Fixture and Equipment				Intangible Assets				Other Assets								Fair Valued
	Community Name		City and State		Acquisition		Price (1)					Land				Building and Improvements				Furniture, Fixture and Equipment				Intangible Assets				Other Assets				Liabilities				Assigned
	Pines of York		Yorktown, VA		1/28/14		$	8,087		(2)		$	4,464			$	16,340			$	400			$	715			$	416			$	(15,447	)		$	6,888
	Pines of York		Yorktown, VA		1/28/14		$	8,087		(2)		$	4,464			$	16,340			$	400			$	715			$	416			$	(15,447	)		$	6,888
	Parkridge Place		Irving, TX		9/29/14		48,500					6,707				39,543				825				1,425				9				(636		)		47,873
	Parkridge Place		Irving, TX		9/29/14		48,500					6,707				39,543				825				1,425				9				(636		)		47,873
	Sunset Ridge		San Antonio, TX		9/4/14		35,000					15,425				18,615				514				931				—				(24,737		)		10,748
	Sunset Ridge		San Antonio, TX		9/4/14		35,000					15,425				18,615				514				931				—				(24,737		)		10,748
	Pinehurst		Kansas City, MO		1/28/14		3,588			(3)		1,250				8,241				200				290				142				(4,548		)		5,575
	Pinehurst		Kansas City, MO		1/28/14		3,588			(3)		1,250				8,241				200				290				142				(4,548		)		5,575
	Pheasant Run		Lee's Summit, MO		1/28/14		4,277			(3)		800				10,798				300				317				172				(6,559		)		5,828
	Pheasant Run		Lee's Summit, MO		1/28/14		4,277			(3)		800				10,798				300				317				172				(6,559		)		5,828
	Retreat at Shawnee		Shawnee, KS		1/28/14		5,369			(3)		3,200				14,550				500				608				186				(14,088		)		4,956
	Retreat at Shawnee		Shawnee, KS		1/28/14		5,369			(3)		3,200				14,550				500				608				186				(14,088		)		4,956
	Merrywood		Katy, TX		6/26/14		32,300					5,831				25,247				307				915				—				(377		)		31,923
	Merrywood		Katy, TX		6/26/14		32,300					5,831				25,247				307				915				—				(377		)		31,923
	Berkeley Trace		Atlanta, GA		5/19/14		22,250					4,002				17,600				194				453				—				(110		)		22,139
	Berkeley Trace		Atlanta, GA		5/19/14		22,250					4,002				17,600				194				453				—				(110		)		22,139
	Berkeley Run		Atlanta, GA		5/19/14		29,500					4,723				23,969				219				588				—				(156		)		29,343
	Berkeley Run		Atlanta, GA		5/19/14		29,500					4,723				23,969				219				588				—				(156		)		29,343
	Chisholm Place		Plano, TX		5/5/14		15,000					1,981				12,383				198				438				—				(96		)		14,904
	Chisholm Place		Plano, TX		5/5/14		15,000					1,981				12,383				198				438				—				(96		)		14,904
	Evergreen at Coursey		Baton Rouge, LA		1/28/14		15,499			(4)		3,430				38,041				530				1,080				680				(28,844		)		14,917
	Evergreen at Coursey		Baton Rouge, LA		1/28/14		15,499			(4)		3,430				38,041				530				1,080				680				(28,844		)		14,917
	Addison Place		Alpharetta, GA		3/28/14		70,500					6,353				62,249				509				1,389				49				(392		)		70,157
	Addison Place		Alpharetta, GA		3/28/14		70,500					6,353				62,249				509				1,389				49				(392		)		70,157
	Meridian Pointe		Burnsville, MN		12/20/13		33,149					4,134				26,992				1,016				1,008				36				(107		)		33,079
	Meridian Pointe		Burnsville, MN		12/20/13		33,149					4,134				26,992				1,016				1,008				36				(107		)		33,079
	Maxwell Townhomes		San Antonio, TX		12/16/13		22,500					3,830				17,510				491				669				48				(14,363		)		8,185
	Maxwell Townhomes		San Antonio, TX		12/16/13		22,500					3,830				17,510				491				669				48				(14,363		)		8,185
	The Nesbit Palisades		Alpharetta, GA		10/25/13		25,050					7,582				16,023				587				859				37				(161		)		24,927
	The Nesbit Palisades		Alpharetta, GA		10/25/13		25,050					7,582				16,023				587				859				37				(161		)		24,927
	Verona Apartment Homes		Littleton,		9/30/13		30,600					5,702				23,609				198				1,090				24				(190		)		30,433
	Verona Apartment Homes		CO		9/30/13		30,600					5,702				23,609				198				1,090				24				(190		)		30,433
	Skyview Apartment Homes		Westminster,		9/30/13		24,250					2,923				20,301				97				928				20				(147		)		24,122
	Skyview Apartment Homes		CO		9/30/13		24,250					2,923				20,301				97				928				20				(147		)		24,122
	Tech Center Square		Newport News,		9/9/13		18,250					3,951				13,048				584				667				23				(59		)		18,214
	Tech Center Square		VA		9/9/13		18,250					3,951				13,048				584				667				23				(59		)		18,214
	The Westside Apartments		Plano,		7/25/13		32,200					5,785				24,418				798				1,199				52				(317		)		31,935
	The Westside Apartments		TX		7/25/13		32,200					5,785				24,418				798				1,199				52				(317		)		31,935
	Affinity at Winter Park		Winter Park,		6/27/13		10,100					2,512				6,459				523				606				50				(61		)		10,089
	Affinity at Winter Park		FL		6/27/13		10,100					2,512				6,459				523				606				50				(61		)		10,089
	Trailpoint at the Woodlands		Spring,		6/24/13		27,200					3,785				22,014				697				704				40				(170		)		27,070
	Trailpoint at the Woodlands		TX		6/24/13		27,200					3,785				22,014				697				704				40				(170		)		27,070
	Retreat at Rocky Ridge		Hoover,		4/18/13		8,500					1,616				6,418				30				436				2				(89		)		8,413
	Retreat at Rocky Ridge		AL		4/18/13		8,500					1,616				6,418				30				436				2				(89		)		8,413
Ivy at Clear Creek		Houston,		3/28/13		11,750					1,877				9,175				28				670				8				(127		)		11,631
Ivy at Clear Creek		TX		3/28/13		11,750					1,877				9,175				28				670				8				(127		)		11,631
One Hundred Chevy Chase Apartments		Lexington,		3/13/13		6,850					1,323				4,981				41				505				7				(101		)		6,756
One Hundred Chevy Chase Apartments		KY		3/13/13		6,850					1,323				4,981				41				505				7				(101		)		6,756
Deerfield		Hermantown		3/21/12		10,300			(5)		1,660				11,110				500				423				1				(4		)		13,690
Deerfield		MN		3/21/12		10,300			(5)		1,660				11,110				500				423				1				(4		)		13,690
The Alcove		Houston,		12/21/12		5,500					1,202				3,865				20				413				54				(13		)		5,541
The Alcove		TX		12/21/12		5,500					1,202				3,865				20				413				54				(13		)		5,541
Cityside Crossing		Houston,		12/19/12		14,425					1,949				11,676				37				763				49				(68		)		14,406
Cityside Crossing		TX		12/19/12		14,425					1,949				11,676				37				763				49				(68		)		14,406
The Reserve at		Memphis,		12/7/12		2,275					775				1,124				39				337				16				(90		)		2,201
Mount Moriah		TN		12/7/12		2,275					775				1,124				39				337				16				(90		)		2,201
Mosaic		Oklahoma City,		12/6/12		2,050					1,000				2,609				30				123				14				(14		)		3,762
Mosaic		OK		12/6/12		2,050					1,000				2,609				30				123				14				(14		)		3,762
Williamsburg		Cincinnati,		6/20/12		41,250					3,223				35,111				1,007				1,909				49				(274		)		41,025
Apartments		OH		6/20/12		41,250					3,223				35,111				1,007				1,909				49				(274		)		41,025


Cannery Lofts		Dayton,		5/13/11		7,100			(6)		160				7,913				200				609				35				—				8,917
Cannery Lofts		OH		5/13/11		7,100			(6)		160				7,913				200				609				35				—				8,917
The Redford		Houston,		3/27/12		11,400					4,073				5,235				262				1,558				272				—				11,400
The Redford		TX		3/27/12		11,400					4,073				5,235				262				1,558				272				—				11,400
Vista Apartment		Philadelphia,		6/17/11		12,000			(7)		1,163				9,913				—				535				530				(141		)		12,000
Homes		PA		6/17/11		12,000			(7)		1,163				9,913				—				535				530				(141		)		12,000
107th Avenue		Omaha,		8/18/10		225					25				196				—				4				—				—				225
107th Avenue		NE		8/18/10		225					25				196				—				4				—				—				225




-1	Purchase price excludes closing costs and acquisition expenses. For properties acquired through foreclosure, the purchase price reflects the contract purchase price of the note.

-2	The Company originally acquired a 90% interest in the joint venture that owned Pines of York on January 28, 2014. On November 25, 2014, the Company purchased the remaining 10% ownership interest of its joint venture partner, bringing the Company's ownership percentage to 100%.

-3	The Company originally acquired a 97.5% interest in each of the joint ventures that owned Pinehurst, Pheasant Run and Retreat at Shawnee on January 28, 2014. On July 1, 2014, the Company purchased the remaining 2.5% ownership interest of its joint venture partner in each entity, bringing the Company's ownership percentage in each entity to 100%.

-4	The Company originally acquired a 51.7% interest in the joint venture that owned Evergreen at Coursey on January 28, 2014. On March 31, 2014, the Company purchased the remaining 48.3% ownership interest of its joint venture partner, bringing the Company's ownership percentage to 100%.

-5	Deerfield originally served as the collateral for a non- performing note that the Company purchased on March 21, 2012. On July 19, 2012, the Company was the successful bidder at a foreclosure sale and formally received title to the property on January 22, 2013. The date of acquisition reflects the date the Company acquired the note.

-6	Cannery Lofts originally served as the collateral for a non-performing note that the Company purchased on May 13, 2011. On December 21, 2011, the Company entered into a settlement agreement with the borrower and, subsequently, the Company foreclosed and formally received title to the property on June 6, 2012. The date of acquisition reflects the date the Company acquired the note.

-7	Vista Apartment Homes, formerly known as Iroquois Apartments, originally served as the collateral for a non-performing promissory note that the Company purchased on June 17, 2011. On August 2, 2011, the Company was the successful bidder at a sheriff's sale and formally received title to the property.
The allocation of the purchase price for the interests in the 11 Paladin joint ventures, which was completed during the year ended December 31, 2014, is included below (in thousands):


Multifamily		Land				Building				Intangible				Fair Value				Other Assets				Liabilities				Non-controlling				Total				Goodwill				Allocation of
Community Name						and				Assets				of												Interest				Company								Purchase
						Improvements								Property																Equity								Price
Champion Farms		$	3,168			$	23,464			$	579			$	27,211			$	575			$	(17,015	)		$	(3,231	)		$	7,540			$	171			$	7,711
Champion Farms		$	3,168			$	23,464			$	579			$	27,211			$	575			$	(17,015	)		$	(3,231	)		$	7,540			$	171			$	7,711
Fieldstone		1,420				18,472				648				20,540				661				(16,462		)		(806		)		3,933				130				4,063
Fieldstone		1,420				18,472				648				20,540				661				(16,462		)		(806		)		3,933				130				4,063
Pinehurst		1,250				8,241				290				9,781				332				(4,548		)		(139		)		5,426				72				5,498
Pinehurst		1,250				8,241				290				9,781				332				(4,548		)		(139		)		5,426				72				5,498
Pheasant Run		800				10,798				317				11,915				472				(6,559		)		(146		)		5,682				76				5,758
Pheasant Run		800				10,798				317				11,915				472				(6,559		)		(146		)		5,682				76				5,758
Retreat at Shawnee		3,200				14,550				608				18,358				686				(14,088		)		(124		)		4,832				117				4,949
Retreat at Shawnee		3,200				14,550				608				18,358				686				(14,088		)		(124		)		4,832				117				4,949
Hilltop Village		800				4,289				195				5,284				267				(4,612		)		(479		)		460				34				494
Hilltop Village		800				4,289				195				5,284				267				(4,612		)		(479		)		460				34				494
Conifer Place		5,040				28,712				1,007				34,759				749				(28,776		)		(3,869		)		2,863				219				3,082
Conifer Place		5,040				28,712				1,007				34,759				749				(28,776		)		(3,869		)		2,863				219				3,082
Stone Ridge		1,300				4,612				326				6,238				984				(178		)		(2,218		)		4,827				41				4,868
Stone Ridge		1,300				4,612				326				6,238				984				(178		)		(2,218		)		4,827				41				4,868
Evergreen at Coursey Place		3,430				38,041				1,080				42,551				1,210				(28,844		)		(7,200		)		7,717				268				7,985
Evergreen at Coursey Place		3,430				38,041				1,080				42,551				1,210				(28,844		)		(7,200		)		7,717				268				7,985
Pines of York		4,464				16,340				715				21,519				816				(15,446		)		(689		)		6,200				136				6,336
Pines of York		4,464				16,340				715				21,519				816				(15,446		)		(689		)		6,200				136				6,336
		$	24,872			$	167,519			$	5,765			$	198,156			$	6,752			$	(136,528	)		$	(18,901	)		$	49,480			$	1,264			$	50,744
		$	24,872			$	167,519			$	5,765			$	198,156			$	6,752			$	(136,528	)		$	(18,901	)		$	49,480			$	1,264			$	50,744
Governor Park																																						456
(sold March 6, 2014)																																						456
Total purchase price																																						$	51,200
Total purchase price																																						$	51,200
On March 31, 2014, the Company purchased the remaining 48.3% ownership interest in Evergreen at Coursey Place ("Coursey Place") from its joint venture partner for $7.5 million. A summary of the transaction is as follows (in thousands):


Purchase price		$	7,500
Purchase price		$	7,500

Noncontrolling interest assumed		$	7,200
Noncontrolling interest assumed		$	7,200
Losses attributable to noncontrolling interest		(191		)
Distribution to noncontrolling interest		(116		)
Adjusted noncontrolling interest balance		6,893
Adjusted noncontrolling interest balance		6,893
Adjustment to additional paid in capital		$	(607	)

On July 1, 2014, the Company purchased the remaining 2.5% ownership interest in Pinehurst, Pheasant Run and Retreat at Shawnee from its joint venture partner for a total of $1.1 million. A summary of the transactions is as follows (in thousands):


		Pinehurst				Pheasant Run				Retreat at Shawnee
Purchase price		$	570			$	515			$	15
Purchase price		$	570			$	515			$	15

Noncontrolling interests assumed		139				146				124
Noncontrolling interests assumed		139				146				124
Losses attributable to noncontrolling interests		(7		)		(8		)		(15		)
Adjusted noncontrolling interest balance		132				138				109
Adjusted noncontrolling interest balance		132				138				109
Adjustment to additional paid in capital		$	(438	)		$	(377	)		$	94
Adjustment to additional paid in capital		$	(438	)		$	(377	)		$	94
Schedule of Business Acquisitions, by Acquisition	The names of each community, location and the Company's joint venture ownership interests on the date of acquisition are presented below:


	Multifamily		City		Ownership % at Date of Acquisition
	Community Name		and
			State
	Champion Farms		Louisville, KY		70%
	Fieldstone		Woodlawn, OH		83%
	Pinehurst		Kansas City, MO		97.50%
	Pheasant Run		Lee's Summit, MO		97.50%
	Retreat at Shawnee		Shawnee, KS		97.50%
	Hilltop Village		Kansas City, MO		49%
	Conifer Place		Norcross, GA		42.50%
	Stone Ridge		Columbia, SC		68.50%
	Evergreen at Coursey Place		Baton Rouge, LA		51.70%
	Pines of York		Yorktown, VA		90%
	Governor Park		San Diego, CA		47.65%
	(sold March 6, 2014)		San Diego, CA		47.65%
	The table below summarizes the total revenues, net losses, and acquisition costs of the Company's acquisitions during the year ended December 31, 2014 (dollars in thousands):



	Multifamily Community	Total Revenues				Net Loss				Acquisition Costs
	Woodmoor (1)	$	—			$	—			$	(66	)
	Woodmoor (1)	$	—			$	—			$	(66	)
	Parkridge Place	1,445				(1,234		)		(1,290		)
	Parkridge Place	1,445				(1,234		)		(1,290		)
	Sunset Ridge	1,214				(1,216		)		(968		)
	Sunset Ridge	1,214				(1,216		)		(968		)
	Merrywood	1,718				(1,144		)		(832		)
	Merrywood	1,718				(1,144		)		(832		)
	Berkeley Trace	1,172				(1,024		)		(606		)
	Berkeley Trace	1,172				(1,024		)		(606		)
	Berkeley Run	1,501				(1,272		)		(748		)
	Berkeley Run	1,501				(1,272		)		(748		)
	Chisholm Place	1,196				(1,042		)		(494		)
	Chisholm Place	1,196				(1,042		)		(494		)
	Addison Place	4,828				(3,287		)		(1,720		)
	Addison Place	4,828				(3,287		)		(1,720		)
	Paladin Properties	22,645				(10,190		)		(3,109		)
	Paladin Properties	22,645				(10,190		)		(3,109		)
		$	35,719			$	(20,409	)		$	(9,833	)
		$	35,719			$	(20,409	)		$	(9,833	)





	-1	Acquisition that was completed during the first quarter of fiscal 2015.
Schedule of Supplemental Pro Forma Financial Information	The supplemental pro forma financial information set forth below is based upon historical financial statements giving effect to the Paladin acquisition as of the beginning of the period presented (in thousands):


			For the Year Ended
			31-Dec-13
			(unaudited)
	Revenues		$	71,098
	Revenues		$	71,098
	Net loss and comprehensive loss		$	(20,699	)
	Basic and diluted loss per share		$	(0.47	)

MEASUREMENT_PERIOD_ADJUSTMENTS1

MEASUREMENT PERIOD ADJUSTMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Changes and Error Corrections [Abstract]
Schedule of Measurement Period Adjustments	Those changes are reflected in the table below (in thousands):


		22-Jan-13			Measurement			22-Jan-13
		(As initially reported)			period adjustment			(As adjusted)
	Land	$	1,028		$	632		$	1,660

	Building	8,592			2,518			11,110

	Personal property	—			500			500

	Intangible assets	680			(257		)	423

	Identifiable net assets	10,300			3,393			13,693

	Gain on foreclosure	—			(3,393		)	—

	Total net identifiable net assets	$	10,300		$	—		$	13,693

	Changes in the Paladin and Addison Place acquisitions are reflected in the tables below (in thousands):
	Paladin


		28-Jan-14			Measurement			28-Jan-14
		(As initially reported)			period adjustment (1)			(As adjusted)
	Land	$	44,292		$	(19,420	)	$	24,872

	Building	149,155			18,364			167,519

	Personal property	—			3,530			3,530

	Intangible assets	5,861			(96		)	5,765

	Other assets	3,231			(9		)	3,222

	Goodwill	6,412			(5,148		)	1,264

	Liabilities	(140,970		)	4,442			(136,528		)

	Total net identifiable net assets	$	67,981		$	1,663		$	69,644





	-1	Remaining balance ($1.7 million) of measurement period adjustments impacted the noncontrolling interest balance.

	The results of operations for the three months ended June 30, 2014 include an additional $867,000 of depreciation and amortization that would have been included in the three months ended March 31, 2014 had the final appraisals for the Paladin properties been received and recorded during that period.
	Addison Place


		28-Mar-14			Measurement			28-Mar-14
		(As initially reported)			period adjustment			(As adjusted)
	Land	$	18,137		$	(11,784	)	$	6,353

	Building	51,843			10,406			62,249

	Personal property	—			509			509

	Intangible assets	520			869			1,389

	Total net identifiable net assets	$	70,500		$	—		$	70,500


The measurement period adjustment for Addison Place had no impact on depreciation and amortization for the three months ended March 31, 2014.

DISPOSITION_OF_PROPERTIES_AND_1

DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Results of Discontinued Operations	The results of discontinued operations are summarized for the year ended December 31, 2013 as follows (in thousands):


		Year Ended
		December 31,
		2013
	Revenues:
	Rental income	$	1,082

	Total revenues	1,082


	Expenses:

	Rental operating	814

	Management fees	62

	General and administrative	227

	Loss on property impairment	539

	Depreciation and amortization expense	141

	Total expenses	1,783

	Income (loss) from discontinued operations	(701		)
	Net gain on dispositions	3,173

	Income from discontinued operations, net	$	2,472


	Weighted average common shares outstanding	39,284


	Income from discontinued operations, net, per common share	$	0.06

IDENTIFIED_INTANGIBLE_ASSETS_N1

IDENTIFIED INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Expected Amortization of Rental and Antennae Leases	Expected amortization for the rental and antennae leases for the next five years ending December 31, and thereafter, is as follows (in thousands):


	2015	$	1,919

	2016	16

	2017	16

	2018	16

	2019	16

	Thereafter	98

		$	2,081

GOODWILL_Tables

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The table below presents a rollforward of the activity in goodwill for the year ended December 31, 2014:


	Balance, January 1, 2014	$	—

	Acquisition of Paladin joint venture interests	6,412

	Measurement period adjustments	(5,148		)
	Disposition of Hilltop	(33		)
	Balance, December 31, 2014	$	1,231

MORTGAGE_NOTES_PAYABLE_Tables

MORTGAGE NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Summary of Mortgage Notes Payable	The following is a summary of the mortgage notes payable (in thousands, except percentages):


				Fair Value Adjustment			Net Book Value		Outstanding borrowings
		Outstanding borrowings
	Collateral	31-Dec-14							December 31,		Maturity	Margin	Annual			Average
									2013		Date		Interest Rate			Monthly Debt
																Service
	Vista Apartment Homes	$	15,900	$	—		$	15,900	$8,846		1/1/22	2.29%	2.46	%	(1)(3)(6)	$	63

	Cannery Lofts	8,190		—			8,190		8,190		9/1/20	3.30%	3.47	%	(1)(3)	35

	Deerfield	10,530		—			10,530		10,530		11/1/20	—	4.66	%	(2)(3)	52

	Ivy at Clear Creek	8,574		—			8,574		8,586		11/1/23	2.41%	2.58	%	(1)(4)	29

	Trailpoint at the Woodlands	19,335		—			19,335		19,362		11/1/23	2.41%	2.58	%	(1)(4)	66

	Verona Apartment Homes	22,843		—			22,843		23,235		1/1/19	—	3.6	%	(2)(5)	106

	Skyview Apartment Homes	18,446		—			18,446		18,762		1/1/19	—	3.6	%	(2)(5)	85

	The Nesbit Palisades	20,298		—			20,298		—		7/1/24	1.95%	2.12	%	(1)(3)	52

	Maxwell Townhomes	14,089		—			14,089		14,300		1/1/22	—	4.32	%	(2)(5)	71

	Champion Farms	16,350		284			16,634		—		7/1/16	—	6.14	%	(2)(3)	85

	Fieldstone	15,804		—			15,804		—		6/26/16	2.40%	2.57	%	(1)(4)(6)	73

	Pinehurst	4,212		27			4,239		—		1/1/16	—	5.58	%	(2)(5)	28

	Pheasant Run	6,250		157			6,407		—		10/1/17	—	5.95	%	(2)(3)	31

	Retreat of Shawnee	13,278		244			13,522		—		2/1/18	—	5.58	%	(2)(5)	78

	Conifer Crossing	27,552		210			27,762		—		9/1/15	—	5.96	%	(2)(3)	171

	Coursey Place	27,970		147			28,117		—		8/1/21	—	5.07	%	(2)(5)	154

	Pines of York	15,525		(428		)	15,097		—		12/1/21	—	4.46	%	(2)(5)	80

	Addison Place	50,000		—			50,000		—		7/1/20	—	3.38	%	(2)(3)	198

	Chisholm Place	11,587		—			11,587		—		6/1/24	2.39%	2.56	%	(1)(3)	35

	Berkeley Trace	14,211		—			14,211		—		7/1/19	—	3.42	%	(2)(5)	64

	Berkeley Run	18,007		—			18,007		—		7/1/19	—	3.42	%	(2)(5)	81

	Merrywood	24,162		—			24,162		—		10/1/21	—	4.34	%	(2)(5)	120

	Sunset Ridge 1	20,527		403			20,930		—		10/1/20	—	4.58	%	(2)(5)	113

	Sunset Ridge 2	3,055		54			3,109		—		10/1/20	—	4.54	%	(2)(5)	16

	Parkridge Place	36,375		—			36,375		—		12/1/21	—	3.87	%	(2)(5)	171

		$	443,070	$	1,098		$	444,168	$	111,811





-1	Variable rate based on one-month LIBOR of 0.17125% (as of December 31, 2014).

-2	Fixed rate.
(3) Monthly interest-only payment currently required.
(4) Monthly fixed principal plus interest payment required.
(5) Fixed monthly principal and interest payment required.

-6	Refinanced during the year ended December 31, 2014.
Annual Principal Payments on the Mortgage Note Payable	Annual principal payments on the mortgage notes payable for each of the next five years ending December 31 and thereafter are as follows (in thousands):


	2015	$	32,986

	2016	41,506

	2017	12,782

	2018	19,475

	2019	73,195

	Thereafter	263,126

		$	443,070

CREDIT_FACILITIES_Tables

CREDIT FACILITIES (Tables)	12 Months Ended
CREDIT FACILITIES (Tables)	Dec. 31, 2014
Line of Credit Facility [Abstract]
Schedule of line of credit facilities	The following is a summary of the credit facilities (in thousands, except percentages):


			Balance Outstanding at		Current Availability at		Balance Outstanding at						Weighted Average Interest Rate for the Year Ended
	Lender		December 31, 2014				December 31, 2013		Maturity	Interest Rate Basis (1)	Current Interest Rate		December 31,		December 31,
	Lender		December 31, 2014				December 31, 2013		Date	Interest Rate Basis (1)	Current Interest Rate		2014		2013
	Bank of America		$	10,086	$	30,000	$	1,541	5/23/17	LIBOR plus 3%	3.17	%	3.11	%	3.25	%
	Bank of America		$	10,086	$	30,000	$	1,541	5/23/17	LIBOR plus 3%	3.17	%	3.11	%	3.25	%
	US Bank		23,000		—		23,000		12/27/17	LIBOR plus 1.95%	2.12	%	2.17	%	—	%
	US Bank		23,000		—		23,000		12/27/17	LIBOR plus 1.95%	2.12	%	2.17	%	—	%
	PNC Bank		12,500		—		12,500		12/20/18	LIBOR plus 2%	2.17	%	2.19	%	—	%
	PNC Bank		12,500		—		12,500		12/20/18	LIBOR plus 2%	2.17	%	2.19	%	—	%
			$	45,586	$	30,000	$	37,041
			$	45,586	$	30,000	$	37,041




	-1	Variable rate based on one-month LIBOR of 0.17125% (as of December 31, 2014).
Schedule of principal payments on revolving credit facilities	Annual principal payments on the revolving credit facilities for each of the next five years ending December 31 and thereafter are as follows (in thousands):


	2015		$	—
	2015		$	—
	2016		—
	2016		—
	2017		33,701
	2017		33,701
	2018		11,885
	2018		11,885
	2019		—
	2019		—
	Thereafter		—
	Thereafter		—
			$	45,586
			$	45,586

DEFERRED_FINANCING_COSTS_Table

DEFERRED FINANCING COSTS (Tables)	12 Months Ended
	Dec. 31, 2014
DEFERRED FINANCING COSTS [Abstract]
Estimated Amortization of Deferred Financing Costs	Estimated amortization of the existing deferred financing costs for the next five years ending December 31, and thereafter are as follows (in thousands):


	2015	$	1,511

	2016	1,346

	2017	1,138

	2018	831

	2019	605

	Thereafter	961

		$	6,392

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in accumulated other comprehensive income (loss) for the years ended December 31, 2014 and 2013 (dollars in thousands):


		Net unrealized gain (loss) on derivatives

	1-Jan-13	$	—

	Unrealized gain on designated derivative	20

	31-Dec-13	$	20

	Unrealized loss on designated derivative	(286		)
	31-Dec-14	$	(266	)

CERTAIN_RELATIONSHIPS_AND_RELA1

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Fees Earned From / Expenses Paid to Related Parties	The fees earned / expenses paid and the amounts payable to such related parties are summarized in the following tables (in thousands):


		As of December 31,
		2014			2013
	Receivables from related parties:
	RAI and affiliates	$	1,148		$	530


	Payables to related parties:
	Advisor:
	Operating expense reimbursements	$	327		$	775


	Resource Real Estate Opportunity Manager, LLC:
	Property management fees	436			266

	Operating expense reimbursements	743			500


	Resource Securities, Inc.
	Selling commissions and dealer manager fees	—			174


	Other	124			3

		$	1,630		$	1,718




		Years Ended
		December 31,
		2014			2013
	Fees earned / expenses paid to related parties:
	Advisor:
	Acquisition fees (1)	$	8,591		$	6,307

	Asset management fees (2)	$	7,262		$	2,660

	Disposition fees (3)	$	422		$	116

	Debt financing fees (4)	$	1,623		$	696

	Organization and offering costs (5)	$	—		$	792

	Overhead allocation (6)	$	2,227		$	839


	Resource Real Estate Opportunity Manager LLC:
	Property management fees (2)	$	3,661		$	1,891

	Construction management fees (7)	$	1,685		$	940

	Debt servicing fees (2)	$	8		$	6


	Resource Securities, Inc.:
	Selling commissions and dealer manager fees (5)	$	—		$	40,683


	Other:
	Ledgewood	$	143		$	266

Graphic Images	$	37		$	485




(1) Included in Acquisition costs on the consolidated statements of operations and comprehensive loss.
(2) Included in Management fees on the consolidated statements of operations and comprehensive loss.
(3) Included in Net gain on dispositions on the consolidated statements of operations and comprehensive loss.
(4) Included in Deferred financing costs, net on the consolidated balance sheets.
(5) Included in Stockholders' equity on the consolidated balance sheets.
(6) Included in General and administrative costs on the consolidated statements of operations and comprehensive loss.
(7) Included in Rental Properties, net on the consolidated balance sheets.

EQUITY_Tables

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Schedule of Shares Issued	As of December 31, 2014, the Company had issued an aggregate of 69,469,001 shares of its $0.01 par value common stock as follows (dollars in thousands):


		Shares Issued		Gross Proceeds
	Shares issued through private offering	1,263,727		$	12,582

	Shares issued through primary public offering (1)	62,485,461		622,077

	Shares issued through stock distributions	2,132,266		—

	Shares issued through distribution reinvestment plan	3,572,047		33,934

	Shares issued in conjunction with the Advisor's initial investment,	15,500		155
	net of 4,500 share conversion
	Total	69,469,001		$	668,748

	Shares redeemed	(214,836	)
	Total shares outstanding as of December 31, 2014	69,254,165




	(1) Includes 276,056 shares held by the Advisor.
Schedule of Distributions	For the year ended December 31, 2014, the Company paid aggregate distributions of $32.9 million, including $10.0 million of distributions paid in cash and $22.9 million of distributions reinvested in shares of common stock through the Company's distribution reinvestment plan, as follows:


	Record Date	Per Common			Distribution Date	Distributions		Aggregate		Total
		Share				Invested in		Cash		Aggregate
						Shares of		Distribution		Distribution
						Common Stock
	December 31, 2013	$	0.03333		January 2, 2014	$	1,566	$	656	$	2,222

	January 31, 2014	0.03333			February 3, 2014	1,575		663		2,238

	February 28, 2014	0.03333			March 3, 2014	1,571		670		2,241

	March 31, 2014	0.03333			April 1, 2014	1,576		672		2,248

	April 30, 2014	0.03333			May 1, 2014	1,574		679		2,253

	May 30, 2014	0.03333			June 2, 2014	1,578		680		2,258

	June 30, 2014	0.03333			July 1, 2014	1,576		687		2,263

	July 31, 2014	0.03333			August 1, 2014	1,583		686		2,269

	August 31, 2014	0.03333			September 2, 2014	1,582		693		2,275

	September 30, 2014	0.03333			October 1, 2014	1,581		697		2,278

	October 31, 2014	0.05			October 31, 2014	2,371		1,055		3,426

	November 27, 2014	0.05			November 28, 2014	2,376		1,061		3,437

	December 30, 2014	0.05			December 31, 2014	2,389		1,060		3,449

						$	22,898	$	9,959	$	32,857

FAIR_VALUE_MEASURES_AND_DISCLO1

FAIR VALUE MEASURES AND DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Schedule of Assets at Fair Value Measured on Recurring Basis	The following table presents information about the Company's assets measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as follows (in thousands):


		Level 1			Level 2			Level 3			Total
	31-Dec-14
	Assets:
	Interest rate caps	$	—		$	114		$	—		$	114

		$	—		$	114		$	—		$	114


	31-Dec-13
	Assets:
	Interest rate caps	$	—		$	290		$	—		$	290

		$	—		$	290		$	—		$	290

Schedule of Rental Properties Measured at Fair Value on a Nonrecurring Basis	The following table presents information about the Company’s rental properties measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands):


		Level 1			Level 2			Level 3			Total
	For the year ended December 31, 2013:
	Assets:
	Deerfield	$	—		$	—		$	13,693		$	13,693

	Rental properties, net	$	—		$	—		$	13,693		$	13,693

Schedule of Carrying Value and Fair Value Amounts	The carrying and fair values of the Company’s loans held for investment, net, preferred equity investment, mortgage note payable and revolving credit facilities, each of which were not carried at fair value on the consolidated balance sheets at December 31, 2014 and 2013, were as follows (in thousands):


		December 31, 2014						December 31, 2013
		Carrying			Fair			Carrying			Fair
		Amount			Value			Amount			Value
	Loans held for investment, net	$	1,523		$	1,523		$	1,724		$	1,724


	Preferred equity investment	$	3,462		$	3,462		$	—		$	—


	Mortgage notes payable	$	(444,168	)	$	(450,269	)	$	(111,811	)	$	(110,413	)

	Credit facilities	$	(45,586	)	$	(45,586	)	$	(37,041	)	$	(37,041	)

DERIVATIVES_AND_HEDGING_ACTIVI1

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	12 Months Ended
DERIVATIVES AND HEDGING ACTIVITIES (Tables)	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Interest Rate Derivatives	As of December 31, 2014, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (dollars in thousands):


	Interest Rate Derivative	Number of Instruments		Notional			Maturity Dates
	Interest Rate Caps	5		$	75,733		January 1, 2018 to November 1, 2018
	Interest Rate Caps	5		$	75,733		January 1, 2018 to November 1, 2018
Fair Value and Balance Sheet Location of Derivatives	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2014 and 2013 (dollars in thousands):


	Asset Derivatives								Liability Derivatives
	31-Dec-14					31-Dec-13			31-Dec-14			31-Dec-13
	Balance Sheet	Fair Value				Balance Sheet	Fair Value		Balance Sheet	Fair Value		Balance Sheet	Fair Value
	Interest rate cap	$	114			Interest rate cap	$	290	—	$	—	—	$	—
	Interest rate cap	$	114			Interest rate cap	$	290	—	$	—	—	$	—

NATURE_OF_BUSINESS_AND_OPERATI1

NATURE OF BUSINESS AND OPERATIONS - Narrative (Details) (USD $)	12 Months Ended		51 Months Ended	1 Months Ended	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 13, 2013	Jun. 30, 2010	Jun. 09, 2010	Jun. 17, 2009	Jun. 09, 2010	Jun. 16, 2010	Sep. 15, 2009
Securities Financing Transaction [Line Items]
Entity organized date	3-Jun-09
Maximum shares under offering (in shares)	1,000,000,000	1,000,000,000
Payment of syndication costs	$0	$46,596,000
Stock acquired by outside investors (in shares)	0	0
Common stock, purchase price	693,000	668,000
Shares issued and sold, distribution reinvestment plan (in shares)	2,410,424		1,161,623
Proceeds from distribution reinvestment plan	22,898,000	9,984,000
Maximum [Member]
Securities Financing Transaction [Line Items]
Shares authorized, distribution reinvestment plan (in shares)								7,500,000
Common Stock [Member]
Securities Financing Transaction [Line Items]
Sale price of share (in dollars per share)								9.5
Common Stock [Member] \| Advisor [Member]
Securities Financing Transaction [Line Items]
Common shares converted by advisor (in shares)				4,500
Convertible shares issued (in shares)				45,000
Common Stock [Member] \| Private Placement [Member]
Securities Financing Transaction [Line Items]
Sale price of share (in dollars per share)									$10
Proceeds from issuance of stock under private offering					12,800,000
Net proceeds from issuance from private placement					11,300,000
Payment of syndication costs					1,500,000
Issuance of common stock (in shares)					1,283,727
Common Stock [Member] \| Private Placement [Member] \| Maximum [Member]
Securities Financing Transaction [Line Items]
Maximum shares under offering (in shares)									5,000,000
Common Stock [Member] \| Private Placement [Member] \| Advisor [Member]
Securities Financing Transaction [Line Items]
Proceeds from issuance of stock under private offering						200,000
Issuance of common stock (in shares)					20,000	20,000
Shares, Issued	276,056
Common stock, purchase price	2,500,000
Common Stock [Member] \| Ongoing Public Offering [Member]
Securities Financing Transaction [Line Items]
Proceeds from issuance of stock under private offering			645,800,000
Issuance of common stock (in shares)			64,926,311
Common Stock [Member] \| Ongoing Public Offering [Member] \| Maximum [Member]
Securities Financing Transaction [Line Items]
Maximum shares under offering (in shares)								75,000,000
Common Stock [Member] \| Ongoing Public Offering [Member] \| Advisor [Member]
Securities Financing Transaction [Line Items]
Issuance of common stock (in shares)			276,056
Amount agreed by advisor to be invested maximum	2,500,000
Percentage the advisor has agreed to invest	1.00%
Amount invested by non affiliated investors	$250,000,000
Convertible Stock [Member] \| Private Placement [Member]
Securities Financing Transaction [Line Items]
Sale price of share (in dollars per share)									$1
Issuance of common stock (in shares)					5,000
Stock acquired by outside investors (in shares)					937		937
Convertible Stock [Member] \| Private Placement [Member] \| Advisor [Member]
Securities Financing Transaction [Line Items]
Issuance of common stock (in shares)							4,063

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) (USD $)	12 Months Ended		3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
	Distribution	Dec. 31, 2013	Property
Concentration of Credit Risk [Abstract]
Deposits at various banks	$142,600,000		142,600,000
Deposits at various banks, amount over the insurance limit of the Federal Deposit Insurance Corporation	132,600,000		132,600,000
Impairment of Long Lived Assets [Abstract]
Loss on property impairment	0	563,000
Allocation of Purchase Price of Acquired and Foreclosed Assets [Abstract]
Initial purchase price allocation subject to change, period	1 year
Tenant Receivable [Abstract]
Allowance for uncollectable receivables	57,300	86,000	57,300
Income Taxes [Abstract]
Number of years entity may be precluded from REIT qualifications (in years)	4 years
Earnings Per Share [Abstract]
Shares not included in diluted earnings per share	50,000
Number of stock distributions	12
Common Stock [Member] \| Dividend Distribution One [Member]
Earnings Per Share [Abstract]
Number of stock distributions	7
Common stock dividend rate	1.50%
Common Stock [Member] \| Dividend Distribution Two [Member]
Earnings Per Share [Abstract]
Number of stock distributions	2
Common stock dividend rate	0.75%
Common Stock [Member] \| Dividend Distribution Three [Member]
Earnings Per Share [Abstract]
Number of stock distributions	1
Common stock dividend rate	0.59%
Common Stock [Member] \| Dividend Distribution Four [Member]
Earnings Per Share [Abstract]
Number of stock distributions	2
Common stock dividend rate	0.50%
Advisor [Member]
Deferred Offering Costs [Abstract]
Advanced deferred offering cost		4,600,000
Reimbursement of offering cost	4,600,000	4,200,000	4,600,000
Residential Rental Properties [Member]
Revenue Recognition [Abstract]
Future minimum rental payments to be received from noncancelable operating leases in 12 months	45,000,000		45,000,000
Future minimum rental payments to be received from noncancelable operating leases in two years	331,000		331,000
Future minimum rental payments to be received thereafter	0		0
Commercial Rental Properties and Antenna Rentals [Member]
Revenue Recognition [Abstract]
Future minimum rental payments to be received from noncancelable operating leases in 12 months	230,000		230,000
Future minimum rental payments to be received from noncancelable operating leases in two years	178,000		178,000
Future minimum rental payments to be received in the next three years	99,000		99,000
Future minimum rental payments to be received in the next four years	10,000		10,000
Future minimum rental payments to be received thereafter	0		0
Heatherwood and Peterson Notes [Member]
Impairment of Long Lived Assets [Abstract]
Loss on property impairment		563,000
Number of properties impaired		2
Heatherwood Note [Member]
Impairment of Long Lived Assets [Abstract]
Loss on property impairment		539,000
Peterson Note [Member]
Impairment of Long Lived Assets [Abstract]
Loss on property impairment		$24,000
Geographic Concentration Risk [Member] \| TEXAS
Concentration of Credit Risk [Abstract]
Percentage of real estate investments	32.00%
Geographic Concentration Risk [Member] \| GEORGIA
Concentration of Credit Risk [Abstract]
Percentage of real estate investments	22.00%
The Alcove, Cityside Crossing and The Redford [Member]
Assets Held for Sale
Number of Properties Held for Sale			3

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Principles of Consolidation (Details)	Dec. 31, 2014
	Unit
RRE 107th Avenue Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	5
RRE Iroquois, LP [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	133
RRE Bristol Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	856
RRE Cannery Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	156
RRE Williamsburg Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	976
RRE Skyview Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	360
RRE Park Forest Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	216
RRE Foxwood Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	220
RRE Flagstone Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	292
RRE Deerfield Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	166
RRE Kenwick Canterbury Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	244
RRE Armand Place Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	244
RRE Autumn Wood Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	206
RRE Village Square Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	271
RRE Nob Hill Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	192
RRE Brentdale Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	412
RRE Jefferson Point Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	208
RRE Centennial Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	276
RRE Pinnacle Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	224
RRE Jasmine Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	437
RRE River Oaks Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	314
RRE Nicollet Ridge Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	339
RRE Addison Place, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	403
PRIP Coursey, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	352
PRIP 500, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	146
PRIP 1102, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	160
PRIP 11128, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	342
PRIP Pines, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	248
RRE Chisolm Place Holdings LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	142
RRE Berkeley Run Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	194
RRE Berkeley Trace Holdings LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	165
RRE Merrywood LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	228
RRE Sunset Ridge Holdings, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	324
RRE Parkridge Place Holding, LLC [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	536
Champion Farms [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	264
Ownership %	70.00%
Fieldstone [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	266
Ownership %	83.00%
Conifer Place [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	420
Ownership %	42.50%
Stone Ridge [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of Units	188
Ownership %	77.70%

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Rental Property Useful Lives (Details)	12 Months Ended
	Dec. 31, 2014
Building [Member]
Real Estate Properties [Line Items]
Estimated useful lives	27 years 6 months
Building Improvements [Member] \| Minimum [Member]
Real Estate Properties [Line Items]
Estimated useful lives	3 years
Building Improvements [Member] \| Maximum [Member]
Real Estate Properties [Line Items]
Estimated useful lives	27 years 6 months
Tenant improvements [Member]
Real Estate Properties [Line Items]
Estimated useful life description	Shorter of lease term or expected useful life

SUPPLEMENTAL_CASH_FLOW_INFORMA2

SUPPLEMENTAL CASH FLOW INFORMATION (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Non-cash activities:
Other assets assumed	$3,231	$48
Debt assumed	158,061	14,300
Other liabilities assumed	3,204	63
Noncontrolling interests	18,901	0
Rental properties, net	176,935	14,315
Property and intangibles received on foreclosure of loans held for investment	0	10,150
Financing provided for disposed property	0	800
Stock issued from distribution reinvestment plan	22,899	9,984
Stock distributions issued	3,333	8,221
Cash distributions on common stock declared but not yet paid	0	2,222
Deferred financing costs and escrow deposits funded directly by mortgage note and revolving credit facility	4,404	2,880
Cash paid during the period for:
Interest	$12,832	$537

RENTAL_PROPERTIES_NET_Details

RENTAL PROPERTIES, NET (Details) (USD $)	12 Months Ended		3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014
	Dec. 31, 2014	Dec. 31, 2013	Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Land	$122,137,000	$62,859,000	$122,137,000
Building and improvements	666,912,000	325,412,000	666,912,000
Furniture, fixtures and equipment	21,495,000	17,051,000	21,495,000
Construction in progress	3,005,000	827,000	3,005,000
Rental properties, gross	813,549,000	406,149,000	813,549,000
Less: accumulated depreciation	-38,295,000	-15,776,000	-38,295,000
Rental properties, net	775,254,000	390,373,000	775,254,000
Depreciation expense	32,800,000	11,600,000
The Alcove, Cityside Crossing and The Redford [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Properties Held for Sale			3
Sale price	$36,800,000		$36,800,000

LOANS_HELD_FOR_INVESTMENT_NET_1

LOANS HELD FOR INVESTMENT, NET - Narrative (Details) (USD $)	1 Months Ended	12 Months Ended		0 Months Ended
	Mar. 15, 2011	Dec. 31, 2014	Dec. 31, 2013	Apr. 06, 2014	Apr. 18, 2013	Dec. 31, 2011
	Loan	Loan	Dec. 31, 2013	Apr. 06, 2014	Apr. 18, 2013	Dec. 31, 2011
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of nonperforming promissory notes	2
Number of performing promissory notes	2
Purchase price of promissory note	$3,100,000
Loan made to purchaser					800,000
Unpaid loan balance						238,000
Performing notes - accretable amount		1,900,000	1,900,000
Purchase discount, net		266,000	292,000
Number of loans, unimpaired		2
Loss on property impairment		0	563,000
Allowance for credit losses		0	24,000
Charge-offs		24,000	0
Peterson Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Sale of Loans Held-for-investment				195,000
Loss on property impairment			$24,000

LOANS_HELD_FOR_INVESTMENT_NET_2

LOANS HELD FOR INVESTMENT, NET - Loans Held for Investments (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Loans Held for Investment [Line Items]
Percentage of loan to total loans (in hundredths)	100.00%	100.00%
Total loans held for investment, net	$1,523	$1,724
Current [Member]
Loans Held for Investment [Line Items]
Financing Receivable, Recorded Investment, Current	1,523	1,529
Percentage of loan to total loans (in hundredths)	100.00%	89.00%
30-89 Days [Member]
Loans Held for Investment [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	195
Percentage of loan to total loans (in hundredths)	0.00%	11.00%
90 - 180 Days [Member]
Loans Held for Investment [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Percentage of loan to total loans (in hundredths)	0.00%	0.00%
Greater Than 180 Days [Member]
Loans Held for Investment [Line Items]
Financing Receivable, Recorded Investment, Past Due	$0	$0
Percentage of loan to total loans (in hundredths)	0.00%	0.00%

LOANS_HELD_FOR_INVESTMENT_NET_3

LOANS HELD FOR INVESTMENT, NET - Recorded Investment, Credit Quality Indicator (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$1,523	$1,724
Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	1,523	1,529
Nonperforming [Member]
Financing Receivable, Recorded Investment [Line Items]
Total Loans	$0	$195

LOANS_HELD_FOR_INVESTMENT_NET_4

LOANS HELD FOR INVESTMENT, NET - Terms of Loans Held for Investment (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Apr. 18, 2013	Mar. 15, 2011
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original Face value		$800
Trail Ridge Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original Face value	994		1,058
Interest rate	7.50%
Average monthly payment	8
Heatherwood Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Original Face value	776	800
Interest rate	4.00%
Average monthly payment	$11

PREFERRED_EQUITY_INVESTMENT_De

PREFERRED EQUITY INVESTMENT (Details) (USD $)	12 Months Ended		0 Months Ended	3 Months Ended
PREFERRED EQUITY INVESTMENT (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Nov. 12, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Equity Method Investments	$3,460,000	$0
Spring Hills Investors Limited Partner, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Equity Method Investments			3,500,000
Contractual Obligation			1,500,000
Contractual Obligation, Incremental Payment			150,000
Equity Method Investment, Dividend Receivable Rate, Percentage, Total				12.00%
Equity Method Investment, Monthly Dividend Receivable Rate, Percentage				7.00%
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums			$40,000
Spring Hills Investors Limited Partner, LLC [Member] \| Multifamily Community [Member]
Schedule of Equity Method Investments [Line Items]
Number of Units			606

ACQUISITIONS_AND_FORECLOSURES_1

ACQUISITIONS AND FORECLOSURES - Real Estate Investments (Details) (USD $)

0 Months Ended

In Thousands, unless otherwise specified

Jan. 28, 2014

Sep. 29, 2014

Sep. 04, 2014

Jun. 26, 2014

19-May-14

5-May-14

Mar. 28, 2014

Dec. 20, 2013

Dec. 16, 2013

Oct. 25, 2013

Sep. 30, 2013

Sep. 09, 2013

Jul. 25, 2013

Jun. 27, 2013

Jun. 24, 2013

Apr. 18, 2013

Mar. 28, 2013

Mar. 13, 2013

Mar. 21, 2012

Dec. 21, 2012

Dec. 19, 2012

Dec. 07, 2012

Dec. 06, 2012

Jun. 20, 2012

13-May-11

Mar. 27, 2012

Jun. 17, 2011

Aug. 18, 2010

Dec. 31, 2014

Nov. 25, 2014

Mar. 31, 2014

Jul. 01, 2014

Jun. 30, 2014

Property

Business Acquisition [Line Items]

Number of properties

Fair value of the net assets acquired:

Land

$24,872

Building and Improvements

167,519

Intangible Assets

5,765

Paladin [Member]

Fair value of the net assets acquired:

Land

24,872

Intangible Assets

5,765

Pines of York [Member]

Business Acquisition [Line Items]

Ownership % at Date of Acquisition

90.00%

100.00%

Ownership percentage acquired during period

10.00%

Fair value of the net assets acquired:

Purchase Price

8,087

Land

4,464

Building and Improvements

16,340

Furniture, Fixture and Equipment

400

Intangible Assets

715

Other Assets

416

Liabilities

-15,447

Fair Valued Assigned

6,888

Parkridge Place [Member]

Fair value of the net assets acquired:

Purchase Price

48,500

Land

6,707

Building and Improvements

39,543

Furniture, Fixture and Equipment

825

Intangible Assets

1,425

Other Assets

Liabilities

-636

Fair Valued Assigned

47,873

Sunset Ridge [Member]

Fair value of the net assets acquired:

Purchase Price

35,000

Land

15,425

Building and Improvements

18,615

Furniture, Fixture and Equipment

514

Intangible Assets

931

Other Assets

Liabilities

-24,737

Fair Valued Assigned

10,748

Pinehurst [Member]

Business Acquisition [Line Items]

Ownership % at Date of Acquisition

97.50%

Fair value of the net assets acquired:

Purchase Price

3,588

Land

1,250

Building and Improvements

8,241

Furniture, Fixture and Equipment

200

Intangible Assets

290

Other Assets

142

Liabilities

-4,548

Fair Valued Assigned

5,575

Pheasant Run [Member]

Business Acquisition [Line Items]

Ownership % at Date of Acquisition

97.50%

Fair value of the net assets acquired:

Purchase Price

4,277

Land

800

Building and Improvements

10,798

Furniture, Fixture and Equipment

300

Intangible Assets

317

Other Assets

172

Liabilities

-6,559

Fair Valued Assigned

5,828

Retreat at Shawnee [Member]

Business Acquisition [Line Items]

Ownership % at Date of Acquisition

97.50%

Fair value of the net assets acquired:

Purchase Price

5,369

Land

3,200

Building and Improvements

14,550

Furniture, Fixture and Equipment

500

Intangible Assets

608

Other Assets

186

Liabilities

-14,088

Fair Valued Assigned

4,956

Merrywood [Member]

Fair value of the net assets acquired:

Purchase Price

32,300

Land

5,831

Building and Improvements

25,247

Furniture, Fixture and Equipment

307

Intangible Assets

915

Other Assets

Liabilities

-377

Fair Valued Assigned

31,923

Berkeley Trace [Member]

Fair value of the net assets acquired:

Purchase Price

22,250

Land

4,002

Building and Improvements

17,600

Furniture, Fixture and Equipment

194

Intangible Assets

453

Other Assets

Liabilities

-110

Fair Valued Assigned

22,139

Berkeley Run [Member]

Fair value of the net assets acquired:

Purchase Price

29,500

Land

4,723

Building and Improvements

23,969

Furniture, Fixture and Equipment

219

Intangible Assets

588

Other Assets

Liabilities

-156

Fair Valued Assigned

29,343

Chisholm Place [Member]

Fair value of the net assets acquired:

Purchase Price

15,000

Land

1,981

Building and Improvements

12,383

Furniture, Fixture and Equipment

198

Intangible Assets

438

Other Assets

Liabilities

-96

Fair Valued Assigned

14,904

Evergreen at Coursey Place [Member]

Business Acquisition [Line Items]

Ownership % at Date of Acquisition

51.70%

100.00%

Ownership percentage acquired during period

48.30%

Fair value of the net assets acquired:

Purchase Price

15,499

Land

3,430

Building and Improvements

38,041

Furniture, Fixture and Equipment

530

Intangible Assets

1,080

Other Assets

680

Liabilities

-28,844

Fair Valued Assigned

14,917

Addison Place [Member]

Fair value of the net assets acquired:

Purchase Price

70,500

Land

6,353

Building and Improvements

62,249

Furniture, Fixture and Equipment

509

Intangible Assets

1,389

Other Assets

Liabilities

-392

Fair Valued Assigned

70,157

Meridian Pointe [Member]

Fair value of the net assets acquired:

Purchase Price

33,149

Land

4,134

Building and Improvements

26,992

Furniture, Fixture and Equipment

1,016

Intangible Assets

1,008

Other Assets

Liabilities

-107

Fair Valued Assigned

33,079

Maxwell Townhomes [Member]

Fair value of the net assets acquired:

Purchase Price

22,500

Land

3,830

Building and Improvements

17,510

Furniture, Fixture and Equipment

491

Intangible Assets

669

Other Assets

Liabilities

-14,363

Fair Valued Assigned

8,185

The Nesbit Palisades [Member]

Fair value of the net assets acquired:

Purchase Price

25,050

Land

7,582

Building and Improvements

16,023

Furniture, Fixture and Equipment

587

Intangible Assets

859

Other Assets

Liabilities

-161

Fair Valued Assigned

24,927

Verona Apartment Homes [Member]

Fair value of the net assets acquired:

Purchase Price

30,600

Land

5,702

Building and Improvements

23,609

Furniture, Fixture and Equipment

198

Intangible Assets

1,090

Other Assets

Liabilities

-190

Fair Valued Assigned

30,433

Skyview Apartment Homes [Member]

Fair value of the net assets acquired:

Purchase Price

24,250

Land

2,923

Building and Improvements

20,301

Furniture, Fixture and Equipment

Intangible Assets

928

Other Assets

Liabilities

-147

Fair Valued Assigned

24,122

Tech Center Square [Member]

Fair value of the net assets acquired:

Purchase Price

18,250

Land

3,951

Building and Improvements

13,048

Furniture, Fixture and Equipment

584

Intangible Assets

667

Other Assets

Liabilities

-59

Fair Valued Assigned

18,214

The Westside Apartments [Member]

Fair value of the net assets acquired:

Purchase Price

32,200

Land

5,785

Building and Improvements

24,418

Furniture, Fixture and Equipment

798

Intangible Assets

1,199

Other Assets

Liabilities

-317

Fair Valued Assigned

31,935

Affinity at Winter Park [Member]

Fair value of the net assets acquired:

Purchase Price

10,100

Land

2,512

Building and Improvements

6,459

Furniture, Fixture and Equipment

523

Intangible Assets

606

Other Assets

Liabilities

-61

Fair Valued Assigned

10,089

Trailpoint at the Woodlands [Member]

Fair value of the net assets acquired:

Purchase Price

27,200

Land

3,785

Building and Improvements

22,014

Furniture, Fixture and Equipment

697

Intangible Assets

704

Other Assets

Liabilities

-170

Fair Valued Assigned

27,070

Retreat at Rocky Ridge [Member]

Fair value of the net assets acquired:

Purchase Price

8,500

Land

1,616

Building and Improvements

6,418

Furniture, Fixture and Equipment

Intangible Assets

436

Other Assets

Liabilities

-89

Fair Valued Assigned

8,413

Ivy at Clear Creek [Member]

Fair value of the net assets acquired:

Purchase Price

11,750

Land

1,877

Building and Improvements

9,175

Furniture, Fixture and Equipment

Intangible Assets

670

Other Assets

Liabilities

-127

Fair Valued Assigned

11,631

One Hundred Chevy Chase Apartments [Member]

Fair value of the net assets acquired:

Purchase Price

6,850

Land

1,323

Building and Improvements

4,981

Furniture, Fixture and Equipment

Intangible Assets

505

Other Assets

Liabilities

-101

Fair Valued Assigned

6,756

Deerfield [Member]

Fair value of the net assets acquired:

Purchase Price

10,300

Land

1,660

Building and Improvements

11,110

Furniture, Fixture and Equipment

500

Intangible Assets

423

Other Assets

Liabilities

-4

Fair Valued Assigned

13,690

The Alcove [Member]

Fair value of the net assets acquired:

Purchase Price

5,500

Land

1,202

Building and Improvements

3,865

Furniture, Fixture and Equipment

Intangible Assets

413

Other Assets

Liabilities

-13

Fair Valued Assigned

5,541

Cityside Crossing [Member]

Fair value of the net assets acquired:

Purchase Price

14,425

Land

1,949

Building and Improvements

11,676

Furniture, Fixture and Equipment

Intangible Assets

763

Other Assets

Liabilities

-68

Fair Valued Assigned

14,406

The Reserve at Mount Moriah [Member]

Fair value of the net assets acquired:

Purchase Price

2,275

Land

775

Building and Improvements

1,124

Furniture, Fixture and Equipment

Intangible Assets

337

Other Assets

Liabilities

-90

Fair Valued Assigned

2,201

Mosaic [Member]

Fair value of the net assets acquired:

Purchase Price

2,050

Land

1,000

Building and Improvements

2,609

Furniture, Fixture and Equipment

Intangible Assets

123

Other Assets

Liabilities

-14

Fair Valued Assigned

3,762

Williamsburg Apartments [Member]

Fair value of the net assets acquired:

Purchase Price

41,250

Land

3,223

Building and Improvements

35,111

Furniture, Fixture and Equipment

1,007

Intangible Assets

1,909

Other Assets

Liabilities

-274

Fair Valued Assigned

41,025

Cannery Lofts [Member]

Fair value of the net assets acquired:

Purchase Price

7,100

Land

160

Building and Improvements

7,913

Furniture, Fixture and Equipment

200

Intangible Assets

609

Other Assets

Liabilities

Fair Valued Assigned

8,917

The Redford [Member]

Fair value of the net assets acquired:

Purchase Price

11,400

Land

4,073

Building and Improvements

5,235

Furniture, Fixture and Equipment

262

Intangible Assets

1,558

Other Assets

272

Liabilities

Fair Valued Assigned

11,400

Vista Apartment Homes [Member]

Fair value of the net assets acquired:

Purchase Price

12,000

Land

1,163

Building and Improvements

9,913

Furniture, Fixture and Equipment

Intangible Assets

535

Other Assets

530

Liabilities

-141

Fair Valued Assigned

12,000

107th Avenue [Member]

Fair value of the net assets acquired:

Purchase Price

225

Land

Building and Improvements

196

Furniture, Fixture and Equipment

Intangible Assets

Other Assets

Liabilities

Fair Valued Assigned

$225

Pinehurst, Pheasant Run and Retreat at Shawnee [Member]

Business Acquisition [Line Items]

Ownership % at Date of Acquisition

100.00%

97.50%

Ownership percentage acquired during period

2.50%

Resource Real Estate Opportunity OP, LP [Member] | Paladin [Member]

Business Acquisition [Line Items]

Number of properties

Resource Real Estate Opportunity OP, LP [Member] | Multifamily Community [Member] | Paladin [Member]

Business Acquisition [Line Items]

Number of properties

ACQUISITIONS_AND_FORECLOSURES_2

ACQUISITIONS AND FORECLOSURES - Acquisitions and Paladin Acquisition (Details) (USD $)	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Jan. 28, 2014	Mar. 06, 2014	Dec. 31, 2013	Jul. 01, 2014	Mar. 31, 2014	Nov. 25, 2014
	Property	Unit
		Property
Business Acquisition [Line Items]
Number of Real Estate Properties Acquired	18
Number of Real Estate Properties	38
Business Combinations, Valuation Period	12 months
Number of Multifamily Communities		10
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		$24,872,000
Building and Improvements		167,519,000
Intangible Assets		5,765,000
Other Assets		6,752,000
Fair Value of Property		198,156,000
Liabilities		-136,528,000
Non-controlling Interest		-18,901,000
Total Company Equity		49,480,000
Goodwill	1,231,000	1,264,000		0
Fair Valued Assigned		50,744,000
Total purchase price	51,200,000
Paladin [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		24,872,000
Intangible Assets		5,765,000
Other Assets		3,222,000
Fair Value of Property		69,644,000
Goodwill		1,264,000
Paladin [Member] \| Resource Real Estate Opportunity OP, LP [Member]
Business Acquisition [Line Items]
Number of Real Estate Properties		11
Number of Rentable Units		2,500
Acquisition of Notes Receivable		3,500,000
Payment to Acquire Joint Venture Interests, Real Estate Property, and Note Receivable		51,200,000
Paladin [Member] \| Minimum [Member] \| Resource Real Estate Opportunity OP, LP [Member]
Business Acquisition [Line Items]
Net Rentable Area		75,000
Champion Farms [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		70.00%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		3,168,000
Building and Improvements		23,464,000
Intangible Assets		579,000
Other Assets		575,000
Fair Value of Property		27,211,000
Liabilities		-17,015,000
Non-controlling Interest		-3,231,000
Total Company Equity		7,540,000
Goodwill		171,000
Fair Valued Assigned		7,711,000
Fieldstone [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		83.00%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		1,420,000
Building and Improvements		18,472,000
Intangible Assets		648,000
Other Assets		661,000
Fair Value of Property		20,540,000
Liabilities		-16,462,000
Non-controlling Interest		-806,000
Total Company Equity		3,933,000
Goodwill		130,000
Fair Valued Assigned		4,063,000
Pinehurst [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		97.50%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		1,250,000
Building and Improvements		8,241,000
Intangible Assets		290,000
Other Assets		332,000
Fair Value of Property		9,781,000
Liabilities		-4,548,000
Non-controlling Interest		-139,000			-139,000
Total Company Equity		5,426,000
Goodwill		72,000
Fair Valued Assigned		5,498,000
Pheasant Run [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		97.50%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		800,000
Building and Improvements		10,798,000
Intangible Assets		317,000
Other Assets		472,000
Fair Value of Property		11,915,000
Liabilities		-6,559,000
Non-controlling Interest		-146,000			-146,000
Total Company Equity		5,682,000
Goodwill		76,000
Fair Valued Assigned		5,758,000
Retreat at Shawnee [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		97.50%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		3,200,000
Building and Improvements		14,550,000
Intangible Assets		608,000
Other Assets		686,000
Fair Value of Property		18,358,000
Liabilities		-14,088,000
Non-controlling Interest		-124,000			-124,000
Total Company Equity		4,832,000
Goodwill		117,000
Fair Valued Assigned		4,949,000
Hilltop Village [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		49.00%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		800,000
Building and Improvements		4,289,000
Intangible Assets		195,000
Other Assets		267,000
Fair Value of Property		5,284,000
Liabilities		-4,612,000
Non-controlling Interest		-479,000
Total Company Equity		460,000
Goodwill		34,000
Fair Valued Assigned		494,000
Conifer Place [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		42.50%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		5,040,000
Building and Improvements		28,712,000
Intangible Assets		1,007,000
Other Assets		749,000
Fair Value of Property		34,759,000
Liabilities		-28,776,000
Non-controlling Interest		-3,869,000
Total Company Equity		2,863,000
Goodwill		219,000
Fair Valued Assigned		3,082,000
Stone Ridge [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		68.50%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		1,300,000
Building and Improvements		4,612,000
Intangible Assets		326,000
Other Assets		984,000
Fair Value of Property		6,238,000
Liabilities		-178,000
Non-controlling Interest		-2,218,000
Total Company Equity		4,827,000
Goodwill		41,000
Fair Valued Assigned		4,868,000
Evergreen at Coursey Place [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		51.70%				100.00%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		3,430,000
Building and Improvements		38,041,000
Intangible Assets		1,080,000
Other Assets		1,210,000
Fair Value of Property		42,551,000
Liabilities		-28,844,000
Non-controlling Interest		-7,200,000				-7,200,000
Total Company Equity		7,717,000
Goodwill		268,000
Fair Valued Assigned		7,985,000
Pines of York [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		90.00%					100.00%
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Land		4,464,000
Building and Improvements		16,340,000
Intangible Assets		715,000
Other Assets		816,000
Fair Value of Property		21,519,000
Liabilities		-15,446,000
Non-controlling Interest		-689,000					-690,000
Total Company Equity		6,200,000
Goodwill		136,000
Fair Valued Assigned		6,336,000
FPA/PRIP Governor Park, LLC [Member]
Business Acquisition [Line Items]
Ownership % at Date of Acquisition		47.65%
FPA/PRIP Governor Park, LLC [Member]
Business Acquisition [Line Items]
Sale of Membership Interest			47.65%
Proceeds from Sale of Membership Interest, Amount			$456,000
Multifamily Community [Member] \| Paladin [Member] \| Resource Real Estate Opportunity OP, LP [Member]
Business Acquisition [Line Items]
Number of Real Estate Properties	9	12
Office Building [Member] \| Paladin [Member] \| Resource Real Estate Opportunity OP, LP [Member]
Business Acquisition [Line Items]
Number of Real Estate Properties		2
Corporate Joint Venture [Member] \| Multifamily Community [Member] \| Paladin [Member] \| Resource Real Estate Opportunity OP, LP [Member]
Business Acquisition [Line Items]
Number of Real Estate Properties		11

ACQUISITIONS_AND_FORECLOSURES_3

ACQUISITIONS AND FORECLOSURES - Pro Forma Financial Information (Details) (Paladin [Member], USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013
Paladin [Member]
Business Acquisition [Line Items]
Revenues	$71,098
Net loss and comprehensive loss	($20,699)
Basic and diluted loss per share	($0.47)

ACQUISITIONS_AND_FORECLOSURES_4

ACQUISITIONS AND FORECLOSURES - Evergreen at Coursey Place (Details) (USD $)	12 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Jan. 28, 2014
Business Acquisition [Line Items]
Noncontrolling interest assumed				$18,901
Losses attributable to noncontrolling interest	-2,021	0
Distribution to noncontrolling interest	-119
Evergreen at Coursey Place [Member]
Business Acquisition [Line Items]
Ownership percentage acquired during period			48.30%
Purchase price			7,500
Noncontrolling interest assumed			7,200	7,200
Losses attributable to noncontrolling interest			-191
Distribution to noncontrolling interest			-116
Adjusted noncontrolling interest balance			6,893
Adjustment to additional paid in capital			($607)

ACQUISITIONS_AND_FORECLOSURES_5

ACQUISITIONS AND FORECLOSURES - Pinehurst, Pheasant Run and Retreat at Shawnee (Details) (USD $)	12 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Jul. 01, 2014	Jan. 28, 2014
Business Acquisition [Line Items]
Noncontrolling interest assumed				$18,901
Losses attributable to noncontrolling interest	-2,021	0
Pinehurst, Pheasant Run and Retreat at Shawnee [Member]
Business Acquisition [Line Items]
Ownership percentage acquired during period			2.50%
Purchase price			1,100
Pinehurst [Member]
Business Acquisition [Line Items]
Purchase price			570
Noncontrolling interest assumed			139	139
Losses attributable to noncontrolling interest			-7
Adjusted noncontrolling interest balance			132
Adjustment to additional paid in capital			-438
Pheasant Run [Member]
Business Acquisition [Line Items]
Purchase price			515
Noncontrolling interest assumed			146	146
Losses attributable to noncontrolling interest			-8
Adjusted noncontrolling interest balance			138
Adjustment to additional paid in capital			-377
Retreat at Shawnee [Member]
Business Acquisition [Line Items]
Purchase price			15
Noncontrolling interest assumed			124	124
Losses attributable to noncontrolling interest			-15
Adjusted noncontrolling interest balance			109
Adjustment to additional paid in capital			$94

ACQUISITIONS_AND_FORECLOSURES_6

ACQUISITIONS AND FORECLOSURES - Joint Venture Partnership That Owns Stone Ridge (Details) (Joint Venture Partnership That Owns Stone Ridge [Member], USD $)	1 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014	Dec. 31, 2014
Joint Venture Partnership That Owns Stone Ridge [Member]
Business Acquisition [Line Items]
Purchase price	$1,100
Ownership % at Date of Acquisition	9.20%	77.70%

ACQUISITIONS_AND_FORECLOSURES_7

ACQUISITIONS AND FORECLOSURES - Pines of York (Details) (USD $)	12 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Nov. 25, 2014	Jan. 28, 2014
Business Acquisition [Line Items]
Noncontrolling interest assumed				$18,901
Losses attributable to noncontrolling interest	-2,021	0
Pines of York [Member]
Business Acquisition [Line Items]
Ownership percentage acquired during period			10.00%
Purchase price			900
Noncontrolling interest assumed			690	689
Losses attributable to noncontrolling interest			-98
Adjusted noncontrolling interest balance			592
Adjustment to additional paid in capital			($308)

ACQUISITIONS_AND_FORECLOSURES_8

ACQUISITIONS AND FORECLOSURES - Revenues, Losses and Acquisition Costs (Details) (USD $)	12 Months Ended		3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2015
Business Acquisition [Line Items]
Total Revenues	$100,269	$44,511
Net Loss	-48,198	-19,486
Parkridge Place [Member]
Business Acquisition [Line Items]
Total Revenues	1,445
Net Loss	-1,234
Acquisition Costs	-1,290
Sunset Ridge [Member]
Business Acquisition [Line Items]
Total Revenues	1,214
Net Loss	-1,216
Acquisition Costs	-968
Merrywood [Member]
Business Acquisition [Line Items]
Total Revenues	1,718
Net Loss	-1,144
Acquisition Costs	-832
Berkeley Trace [Member]
Business Acquisition [Line Items]
Total Revenues	1,172
Net Loss	-1,024
Acquisition Costs	-606
Berkeley Run [Member]
Business Acquisition [Line Items]
Total Revenues	1,501
Net Loss	-1,272
Acquisition Costs	-748
Chisholm Place [Member]
Business Acquisition [Line Items]
Total Revenues	1,196
Net Loss	-1,042
Acquisition Costs	-494
Addison Place [Member]
Business Acquisition [Line Items]
Total Revenues	4,828
Net Loss	-3,287
Acquisition Costs	-1,720
Paladin [Member]
Business Acquisition [Line Items]
Total Revenues	22,645
Net Loss	-10,190
Acquisition Costs	-3,109
Multifamily Community [Member]
Business Acquisition [Line Items]
Total Revenues	35,719
Net Loss	-20,409
Acquisition Costs	-9,833
Subsequent Event [Member] \| Woodmoor [Member]
Business Acquisition [Line Items]
Total Revenues			0
Net Loss			0
Acquisition Costs			($66)

MEASUREMENT_PERIOD_ADJUSTMENTS2

MEASUREMENT PERIOD ADJUSTMENTS - Schedules (Details) (USD $)	0 Months Ended
	Jan. 22, 2013	Dec. 31, 2014	Jan. 28, 2014	Dec. 31, 2013	Mar. 28, 2014
Business Acquisition [Line Items]
Land			$24,872,000
Intangible assets			5,765,000
Other Assets			6,752,000
Goodwill		1,231,000	1,264,000	0
Fair Value of Property			198,156,000
Deerfield
Business Acquisition [Line Items]
Land	1,660,000
Building	11,110,000
Personal property	500,000
Intangible assets	423,000
Gain on foreclosure	0
Fair Value of Property	13,693,000
Paladin [Member]
Business Acquisition [Line Items]
Land			24,872,000
Building			167,519,000
Personal property			3,530,000
Intangible assets			5,765,000
Other Assets			3,222,000
Goodwill			1,264,000
Liabilities			-136,528,000
Fair Value of Property			69,644,000
Addison Place [Member]
Business Acquisition [Line Items]
Land					6,353,000
Building					62,249,000
Personal property					509,000
Intangible assets					1,389,000
Fair Value of Property					70,500,000
As Initially Reported [Member] \| Deerfield
Business Acquisition [Line Items]
Land	1,028,000
Building	8,592,000
Personal property	0
Intangible assets	680,000
Gain on foreclosure	0
Fair Value of Property	10,300,000
As Initially Reported [Member] \| Paladin [Member]
Business Acquisition [Line Items]
Land			44,292,000
Building			149,155,000
Personal property			0
Intangible assets			5,861,000
Other Assets			3,231,000
Goodwill			6,412,000
Liabilities			-140,970,000
Fair Value of Property			67,981,000
As Initially Reported [Member] \| Addison Place [Member]
Business Acquisition [Line Items]
Land					18,137,000
Building					51,843,000
Personal property					0
Intangible assets					520,000
Fair Value of Property					70,500,000
Scenario, Adjustment [Member] \| Deerfield
Business Acquisition [Line Items]
Land	632,000
Building	2,518,000
Personal property	500,000
Intangible assets	-257,000
Gain on foreclosure	-3,393,000
Fair Value of Property	3,393,000
Scenario, Adjustment [Member] \| Paladin [Member]
Business Acquisition [Line Items]
Land			-19,420,000
Building			18,364,000
Personal property			3,530,000
Intangible assets			-96,000
Other Assets			-9,000
Goodwill			-5,148,000
Liabilities			4,442,000
Fair Value of Property			1,663,000
Remaining balance of measurement period adjustment			1,700,000
Scenario, Adjustment [Member] \| Addison Place [Member]
Business Acquisition [Line Items]
Land					-11,784,000
Building					10,406,000
Personal property					509,000
Intangible assets					869,000
Fair Value of Property					$0

MEASUREMENT_PERIOD_ADJUSTMENTS3

MEASUREMENT PERIOD ADJUSTMENTS - Narrative (Details) (USD $)	12 Months Ended		0 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Jan. 22, 2013	Jun. 30, 2014
Ownership acquisitions, net of cash received	$58,720	$0
Residential, Deerfield Note, Hermantown, Minnesota [Member]
Ownership acquisitions, net of cash received			10,300
Gain on foreclosure			0
Residential, Deerfield Note, Hermantown, Minnesota [Member] \| Scenario, Adjustment [Member]
Gain on foreclosure			3,393
Paladin [Member]
Depreciation and amortization				$867

DISPOSITION_OF_PROPERTIES_AND_2

DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS - Narrative (Details) (USD $)	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Jun. 16, 2014	Jul. 01, 2014	Sep. 19, 2014	Apr. 18, 2013	Apr. 30, 2013
	Dec. 31, 2014	Property	Jun. 16, 2014	Jul. 01, 2014	Sep. 19, 2014	Apr. 18, 2013	Apr. 30, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on dispositions	$0	$3,173,000
Discontinued operations, number of properties		2
Campus Club Apartments Tampa Florida [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price			10,500,000
Gain (loss) on dispositions			2,600,000
Hilltop Village [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price				0
Gain (loss) on dispositions				-492,582
Sale of membership interest, percent sold				49.00%
Arcadia at Westheimer [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price					18,100,000
Gain (loss) on dispositions					8,300,000
Heatherwood Apartments Inkster Michigan [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price						1,000,000
Gain (loss) on dispositions						-31,000
Sale price, portion financed by buyer						800,000
Sale price, portion paid in cash						200,000
Town Park Apartments [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price							10,300,000
Gain (loss) on dispositions							$3,200,000

DISPOSITION_OF_PROPERTIES_AND_3

DISPOSITION OF PROPERTIES AND DISCONTINUED OPERATIONS - Results of Discontinued Operations (Details) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Rental income		$1,082
Total revenues		1,082
Expenses:
Rental operating		814
Management fees		62
General and administrative		227
Loss on property impairment		539
Depreciation and amortization expense		141
Total expenses		1,783
Income (loss) from discontinued operations	0	-701
Net gain on dispositions		3,173
Income from discontinued operations, net	$0	$2,472
Weighted average common shares outstanding (in shares)	68,008	39,284
Discontinued operations (in dollars per share)	$0	$0.06

IDENTIFIED_INTANGIBLE_ASSETS_N2

IDENTIFIED INTANGIBLE ASSETS, NET - Narrative (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets, net	$2,081,000	$5,182,000
Weighted average remaining life (in months)	5 months	6 months
Amortization expense	15,000,000	6,600,000
Acquired in-place leases [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets, net	2,100,000	5,200,000
Accumulated amortization	26,500,000	11,500,000
Antennae Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Annual expected amortization expense through 2025	$16,000

IDENTIFIED_INTANGIBLE_ASSETS_N3

IDENTIFIED INTANGIBLE ASSETS, NET - Rental and Antennae Leases (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
2015	$1,919
2016	16
2017	16
2018	16
2019	16
Thereafter	98
Total	$2,081	$5,182

GOODWILL_Details

GOODWILL (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Jan. 28, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Beginning Balance	$0	$1,264
Acquisition of Paladin joint venture interests	6,412
Measurement period adjustments	-5,148
Disposition of Hilltop	-33
Goodwill, Ending Balance	$1,231	$1,264

MORTGAGE_NOTES_PAYABLE_Narrati

MORTGAGE NOTES PAYABLE - Narrative (Details) (USD $)	12 Months Ended
MORTGAGE NOTES PAYABLE - Narrative (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Participating Mortgage Loans [Line Items]
Amortization of fair value adjustment of debt	($598,000)	$0
Restricted cash related to escrow deposits	6,900,000	1,500,000
Payment Guarantee [Member]
Participating Mortgage Loans [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted			7,000,000
Interest Expense [Member] \| Paladin, Sunset Ridge and Maxwell [Member]
Participating Mortgage Loans [Line Items]
Amortization of fair value adjustment of debt	$598,000

MORTGAGE_NOTES_PAYABLE_Summary

MORTGAGE NOTES PAYABLE - Summary of Mortgage Notes Payable (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Participating Mortgage Loans [Line Items]
Outstanding borrowings	$443,070	$111,811
Fair Value Adjustment	1,098
Net Book Value	444,168	111,811
Vista Apartment Homes [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	15,900	8,846
Fair Value Adjustment	0
Net Book Value	15,900
Maturity Date	1-Jan-22
Mortgage note, annual interest rate (in hundredths)	2.46%
Average Monthly Debt Service	63
Vista Apartment Homes [Member] \| Base Rate [Member]
Participating Mortgage Loans [Line Items]
Margin	2.29%
Cannery Mortgage Note [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	8,190	8,190
Fair Value Adjustment	0
Net Book Value	8,190
Maturity Date	1-Sep-20
Mortgage note, annual interest rate (in hundredths)	3.47%
Average Monthly Debt Service	35
Cannery Mortgage Note [Member] \| Base Rate [Member]
Participating Mortgage Loans [Line Items]
Margin	3.30%
Deerfield Mortgage Loan [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	10,530	10,530
Fair Value Adjustment	0
Net Book Value	10,530
Maturity Date	1-Nov-20
Mortgage note, annual interest rate (in hundredths)	4.66%
Average Monthly Debt Service	52
Ivy at Clear Creek [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	8,574	8,586
Fair Value Adjustment	0
Net Book Value	8,574
Maturity Date	1-Nov-23
Mortgage note, annual interest rate (in hundredths)	2.58%
Average Monthly Debt Service	29
Ivy at Clear Creek [Member] \| Base Rate [Member]
Participating Mortgage Loans [Line Items]
Margin	2.41%
Trailpoint at the Woodlands [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	19,335	19,362
Fair Value Adjustment	0
Net Book Value	19,335
Maturity Date	1-Nov-23
Mortgage note, annual interest rate (in hundredths)	2.58%
Average Monthly Debt Service	66
Trailpoint at the Woodlands [Member] \| Base Rate [Member]
Participating Mortgage Loans [Line Items]
Margin	2.41%
Verona Apartment Homes [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	22,843	23,235
Fair Value Adjustment	0
Net Book Value	22,843
Maturity Date	1-Jan-19
Mortgage note, annual interest rate (in hundredths)	3.60%
Average Monthly Debt Service	106
Skyview Apartment Homes [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	18,446	18,762
Fair Value Adjustment	0
Net Book Value	18,446
Maturity Date	1-Jan-19
Mortgage note, annual interest rate (in hundredths)	3.60%
Average Monthly Debt Service	85
Nesbit Palisades [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	20,298	0
Fair Value Adjustment	0
Net Book Value	20,298
Maturity Date	1-Jul-24
Mortgage note, annual interest rate (in hundredths)	2.12%
Average Monthly Debt Service	52
Nesbit Palisades [Member] \| Base Rate [Member]
Participating Mortgage Loans [Line Items]
Margin	1.95%
Maxwell Townhomes [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	14,089	14,300
Fair Value Adjustment	0
Net Book Value	14,089
Maturity Date	1-Jan-22
Mortgage note, annual interest rate (in hundredths)	4.32%
Average Monthly Debt Service	71
Champion Farms [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	16,350	0
Fair Value Adjustment	284
Net Book Value	16,634
Maturity Date	1-Jul-16
Mortgage note, annual interest rate (in hundredths)	6.14%
Average Monthly Debt Service	85
Fieldstone [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	15,804	0
Fair Value Adjustment	0
Net Book Value	15,804
Maturity Date	26-Jun-16
Mortgage note, annual interest rate (in hundredths)	2.57%
Average Monthly Debt Service	73
Fieldstone [Member] \| Base Rate [Member]
Participating Mortgage Loans [Line Items]
Margin	2.40%
Pinehurst [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	4,212	0
Fair Value Adjustment	27
Net Book Value	4,239
Maturity Date	1-Jan-16
Mortgage note, annual interest rate (in hundredths)	5.58%
Average Monthly Debt Service	28
Pheasant Run [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	6,250	0
Fair Value Adjustment	157
Net Book Value	6,407
Maturity Date	1-Oct-17
Mortgage note, annual interest rate (in hundredths)	5.95%
Average Monthly Debt Service	31
Retreat at Shawnee [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	13,278	0
Fair Value Adjustment	244
Net Book Value	13,522
Maturity Date	1-Feb-18
Mortgage note, annual interest rate (in hundredths)	5.58%
Average Monthly Debt Service	78
Conifer Crossing [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	27,552	0
Fair Value Adjustment	210
Net Book Value	27,762
Maturity Date	1-Sep-15
Mortgage note, annual interest rate (in hundredths)	5.96%
Average Monthly Debt Service	171
Evergreen at Coursey Place [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	27,970	0
Fair Value Adjustment	147
Net Book Value	28,117
Maturity Date	1-Aug-21
Mortgage note, annual interest rate (in hundredths)	5.07%
Average Monthly Debt Service	154
Pines of York [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	15,525	0
Fair Value Adjustment	-428
Net Book Value	15,097
Maturity Date	1-Dec-21
Mortgage note, annual interest rate (in hundredths)	4.46%
Average Monthly Debt Service	80
Addison Place [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	50,000	0
Fair Value Adjustment	0
Net Book Value	50,000
Maturity Date	1-Jul-20
Mortgage note, annual interest rate (in hundredths)	3.38%
Average Monthly Debt Service	198
Chisholm Place [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	11,587	0
Fair Value Adjustment	0
Net Book Value	11,587
Maturity Date	1-Jun-24
Mortgage note, annual interest rate (in hundredths)	2.56%
Average Monthly Debt Service	35
Chisholm Place [Member] \| Base Rate [Member]
Participating Mortgage Loans [Line Items]
Margin	2.39%
Berkeley Trace [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	14,211	0
Fair Value Adjustment	0
Net Book Value	14,211
Maturity Date	1-Jul-19
Mortgage note, annual interest rate (in hundredths)	3.42%
Average Monthly Debt Service	64
Berkeley Run [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	18,007	0
Fair Value Adjustment	0
Net Book Value	18,007
Maturity Date	1-Jul-19
Mortgage note, annual interest rate (in hundredths)	3.42%
Average Monthly Debt Service	81
Merrywood [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	24,162	0
Fair Value Adjustment	0
Net Book Value	24,162
Maturity Date	1-Oct-21
Mortgage note, annual interest rate (in hundredths)	4.34%
Average Monthly Debt Service	120
Sunset Ridge 1 [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	20,527	0
Fair Value Adjustment	403
Net Book Value	20,930
Maturity Date	1-Oct-20
Mortgage note, annual interest rate (in hundredths)	4.58%
Average Monthly Debt Service	113
Sunset Ridge 2 [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	3,055	0
Fair Value Adjustment	54
Net Book Value	3,109
Maturity Date	1-Oct-20
Mortgage note, annual interest rate (in hundredths)	4.54%
Average Monthly Debt Service	16
Parkridge Place [Member]
Participating Mortgage Loans [Line Items]
Outstanding borrowings	36,375	0
Fair Value Adjustment	0
Net Book Value	36,375
Maturity Date	1-Dec-21
Mortgage note, annual interest rate (in hundredths)	3.87%
Average Monthly Debt Service	$171
Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Participating Mortgage Loans [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.17%

MORTGAGE_NOTES_PAYABLE_Annual_

MORTGAGE NOTES PAYABLE - Annual Principal Payments on the Mortgage Note Payable (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Debt Disclosure [Abstract]
2015	$32,986
2016	41,506
2017	12,782
2018	19,475
2019	73,195
Thereafter	263,126
Long-term Debt	$443,070

CREDIT_FACILITIES_Summary_of_C

CREDIT FACILITIES - Summary of Credit Facilities (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Line of Credit Facility [Line Items]
Long-Term Line of Credit	$45,586	$37,041
Line of Credit Facility, Remaining Borrowing Capacity	30,000
Bank of America [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-Term Line of Credit	10,086	1,541
Line of Credit Facility, Remaining Borrowing Capacity	30,000
Line of Credit Facility, Interest Rate at Period End	3.17%
Long-term Debt, Weighted Average Interest Rate	3.11%	3.25%
Debt Instrument, Basis Spread on Variable Rate	3.17%
U.S. Bank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-Term Line of Credit	23,000	23,000
Line of Credit Facility, Interest Rate at Period End	2.12%
Long-term Debt, Weighted Average Interest Rate	2.17%	0.00%
Debt Instrument, Basis Spread on Variable Rate	2.12%
PNC Bank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-Term Line of Credit	$12,500	$12,500
Line of Credit Facility, Interest Rate at Period End	2.17%
Long-term Debt, Weighted Average Interest Rate	2.19%	0.00%
Debt Instrument, Basis Spread on Variable Rate	2.17%

DEFERRED_FINANCING_COSTS_Detai

DEFERRED FINANCING COSTS (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
DEFERRED FINANCING COSTS [Abstract]
Amortization of deferred financing costs	$1,365	$169
Accumulated amortization, deferred finance costs	1,500	419
Estimated amortization of existing deferred financing costs
2015	1,511
2016	1,346
2017	1,138
2018	831
2019	605
Thereafter	961
Deferred financing costs, net	$6,392	$3,602

CREDIT_FACILITIES_Narrative_De

CREDIT FACILITIES - Narrative (Details) (USD $)	12 Months Ended		0 Months Ended
CREDIT FACILITIES - Narrative (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	23-May-13	Dec. 20, 2013	Dec. 27, 2013	Sep. 30, 2014	22-May-13
Line of Credit Facility [Line Items]
Payments of closing costs	$4,155,000	$2,994,000
Payment Guarantee [Member]
Line of Credit Facility [Line Items]
Repayment guarantee						7,000,000
Revolving Credit Facility [Member] \| Bank of America [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			50,000,000				25,000,000
Line of credit facility collateral amount	87,500,000
Payments of closing costs			413,305
Extension fee percentage	0.25%
Line of Credit Facility, Average Outstanding Amount	9,000,000	839,000
Minimum tangible net worth to maintain, percent of outstanding principal amount of credit facility	200.00%
Minimum tangible net worth to maintain	20,000,000
Minimum unencumbered liquid assets to maintain, market value	5,000,000
Minimum unencumbered liquid assets to maintain, market value, percent of outstanding principal amount of credit facility	20.00%
Revolving Credit Facility [Member] \| PNC Bank [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				15,000,000
Payments of closing costs				75,000
Revolving Credit Facility [Member] \| U.S. Bank [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity					29,670,000
Payments of closing costs					222,000
Extension fee percentage	0.25%
Revolving Credit Facility [Member] \| U.S. Bank [Member] \| Payment Guarantee [Member]
Line of Credit Facility [Line Items]
Repayment guarantee					$6,500,000

CREDIT_FACILITIES_Principal_Pa

CREDIT FACILITIES - Principal Payments on Revolving Credit Facilities (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Line of Credit Facility [Line Items]
2015	$32,986
2016	41,506
2017	12,782
2018	19,475
2019	73,195
Thereafter	263,126
Long-term Debt	443,070
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
2015	0
2016	0
2017	33,701
2018	11,885
2019	0
Thereafter	0
Long-term Debt	$45,586

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income [Rollforward]
Ending balance	($266)	$20
Net unrealized gain on derivatives [Member]
Accumulated Other Comprehensive Income [Rollforward]
Beginning balance	20	0
Unrealized gain/loss on designated derivative	-286	20
Ending balance	($266)	$20

CERTAIN_RELATIONSHIPS_AND_RELA2

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS - Relationship with RAI (Details) (USD $)	Sep. 30, 2014
Related Party Transaction [Line Items]
Insurance Pool, Amount of General Liability Losses Covered	$750,000
Resource America, Inc. and Affiliates [Member]
Related Party Transaction [Line Items]
Insurance Pool, Amount of Property Losses Covered	2,500,000
Catastrophic Insurance, Amount of Losses Covered	$85,000,000

CERTAIN_RELATIONSHIPS_AND_RELA3

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS - Relationship with the Advisor (Details) (Advisor [Member])	12 Months Ended
	Dec. 31, 2014
Advisor [Member]
Related Party Transaction [Line Items]
Agreement term (in years)	1 year
Percentage acquisition fee paid to advisor (in hundredths)	2.00%
Multiple for calculating monthly asset management fee, percentage (one-twelfth)	8.33%
Percentage annual asset management fee (in hundredths)	1.00%
Debt disposition fee, as a percentage of the contract sales price (in hundredths)	2.75%
Debt financing fee	0.50%
Maximum reimbursement limit on gross offering proceeds (in hundredths)	2.50%

CERTAIN_RELATIONSHIPS_AND_RELA4

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS - Relationship with Resource Real Estate Opportunity Manager (Details) (Resource Real Estate Opportunity Manager LLC [Member])	12 Months Ended
	Dec. 31, 2014
Resource Real Estate Opportunity Manager LLC [Member]
Related Party Transaction [Line Items]
Property Management Fee, Percent Fee	4.50%
Property Management Fee, Conditions, Occupancy Percentage To Receive Minimum Fee	75.00%
Property Management Fee, Conditions, Period To Receive Minimum Fee	12 months
Construction management fee percentage	5.00%
Debt servicing fee percentage	2.75%

CERTAIN_RELATIONSHIPS_AND_RELA5

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS - Relationship with Resource Securities (Details) (Resource Securities, Inc. [Member])	12 Months Ended
	Dec. 31, 2014
Resource Securities, Inc. [Member]
Related Party Transaction [Line Items]
Selling commission to be paid, maximum (in hundredths)	7.00%
Dealer manager fee to be paid, maximum (in hundredths)	3.00%
Percentage dealer manager fees reallows to participating brokers (in hundredths)	1.00%

CERTAIN_RELATIONSHIPS_AND_RELA6

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Receivables from related parties	$1,148	$530
Payables to related parties	1,630	1,718
Resource America, Inc. and Affiliates [Member]
Related Party Transaction [Line Items]
Receivables from related parties	1,148	530
Advisor [Member] \| Overhead Allocation [Member]
Related Party Transaction [Line Items]
Payables to related parties	327	775
Fees earned / expenses paid to related parties	2,227	839
Advisor [Member] \| Acquisition Fees [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	8,591	6,307
Advisor [Member] \| Asset Management Fees [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	7,262	2,660
Advisor [Member] \| Disposition Fees [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	422	116
Advisor [Member] \| Debt Financing Fees [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	1,623	696
Advisor [Member] \| Organization and Offering Cost [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	0	792
Resource Real Estate Opportunity Manager LLC [Member] \| Property Management Fees [Member]
Related Party Transaction [Line Items]
Payables to related parties	436	266
Fees earned / expenses paid to related parties	3,661	1,891
Resource Real Estate Opportunity Manager LLC [Member] \| Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Payables to related parties	743	500
Resource Real Estate Opportunity Manager LLC [Member] \| Construction Management Fees [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	1,685	940
Resource Real Estate Opportunity Manager LLC [Member] \| Debt Servicing Fees [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	8	6
Resource Securities, Inc. [Member] \| Selling Commission and Dealer Management Fees [Member]
Related Party Transaction [Line Items]
Payables to related parties	0	174
Fees earned / expenses paid to related parties	0	40,683
Other Related Party [Member]
Related Party Transaction [Line Items]
Payables to related parties	124	3
Ledgewood P.C. [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	143	266
Graphic Images LLC [Member]
Related Party Transaction [Line Items]
Fees earned / expenses paid to related parties	$37	$485

EQUITY_Preferred_and_Common_St

EQUITY - Preferred and Common Stock (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Securities Financing Transaction [Line Items]
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Shares Issued	69,469,001	66,725,241
Common stock, par value (in dollars per share)	$0.01	$0.01
Gross Proceeds	$668,748
Shares redeemed	-214,836
Total shares outstanding as of December 31	69,254,165
Private Placement [Member]
Securities Financing Transaction [Line Items]
Shares Issued	1,263,727
Gross Proceeds	12,582
Public Placement [Member]
Securities Financing Transaction [Line Items]
Shares Issued	62,485,461
Gross Proceeds	622,077
Stock Dividends [Member]
Securities Financing Transaction [Line Items]
Shares Issued	2,132,266
Gross Proceeds	0
Distribution Reinvestment Plan [Member]
Securities Financing Transaction [Line Items]
Shares Issued	3,572,047
Gross Proceeds, shares issued through distribution reinvestment plan	33,934
Advisor [Member]
Securities Financing Transaction [Line Items]
Shares Issued	15,500
Gross Proceeds	$155
Stock Issued During Period, Shares, Conversion of Convertible Securities	4,500
Private Placement [Member]
Securities Financing Transaction [Line Items]
Shares Issued	69,469,001
Common stock, par value (in dollars per share)	$0.01
Private Placement [Member] \| Common Stock [Member] \| Advisor [Member]
Securities Financing Transaction [Line Items]
Shares, Issued	276,056

EQUITY_Convertible_Stock_Detai

EQUITY - Convertible Stock (Details) (USD $)	12 Months Ended
EQUITY - Convertible Stock (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Convertible stock shares outstanding (in shares)	50,000	50,000
Convertible stock, par value (in dollars per share)	$0.01	$0.01
Convertible stock held by advisor and affiliated persons (in shares)	49,063
Convertible stock held by outside investors (in shares)	937
Percentage on original share price (in hundredths)	100.00%
Percentage non-compounded annual return (in hundredths)	10.00%
Aggregate percentage return (in hundredths)	10.00%

EQUITY_Redemption_of_Securitie

EQUITY - Redemption of Securities (Details)	12 Months Ended
EQUITY - Redemption of Securities (Details)	Dec. 31, 2014
Equity [Abstract]
Shares redeemed (in shares)	156,730
Percentage of weighted-average number of outstanding shares during the 12-month period immediately prior to the effective date of the redemption that company will not redeem in excess of (in excess of 5%)	5.00%
Share Repurchase Program, Period of Time Shares are Outstanding Prior to the Effective Date of Repurchase	12 months
Cash available for redemption, percentage of previous fiscal year operating cash flow	1.00%
Number of days' notice required to suspend, terminate or amend share redemption program	30 days

EQUITY_Distribution_Reinvestme

EQUITY - Distribution Reinvestment Plan and Distributions (Details) (USD $)

12 Months Ended

0 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Jan. 02, 2014

Feb. 03, 2014

Mar. 03, 2014

Apr. 01, 2014

1-May-14

Jun. 02, 2014

Jul. 01, 2014

Aug. 01, 2014

Sep. 02, 2014

Oct. 01, 2014

Oct. 31, 2014

Nov. 28, 2014

Dec. 31, 2014

Distribution

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

$32,857,000

Aggregate Cash Distribution

9,959,000

Distributions Invested in Shares of Common Stock

22,898,000

9,984,000

Number of stock distributions

Increase in accumulated deficit from stock distributions

21,300,000

Record Date December 2013 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,222,000

Aggregate Cash Distribution

656,000

Distributions Invested in Shares of Common Stock

1,566,000

Per Common Share

$0.03

Record Date January 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,238,000

Aggregate Cash Distribution

663,000

Distributions Invested in Shares of Common Stock

1,575,000

Per Common Share

$0.03

Record Date February 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,241,000

Aggregate Cash Distribution

670,000

Distributions Invested in Shares of Common Stock

1,571,000

Per Common Share

$0.03

Record Date March 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,248,000

Aggregate Cash Distribution

672,000

Distributions Invested in Shares of Common Stock

1,576,000

Per Common Share

$0.03

Record Date of April 30, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,253,000

Aggregate Cash Distribution

679,000

Distributions Invested in Shares of Common Stock

1,574,000

Per Common Share

$0.03

Record Date of May 30, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,258,000

Aggregate Cash Distribution

680,000

Distributions Invested in Shares of Common Stock

1,578,000

Per Common Share

$0.03

Record Date of June 30, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,263,000

Aggregate Cash Distribution

687,000

Distributions Invested in Shares of Common Stock

1,576,000

Per Common Share

$0.03

Record Date of July 31, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,269,000

Aggregate Cash Distribution

686,000

Distributions Invested in Shares of Common Stock

1,583,000

Per Common Share

$0.03

Record Date of August 31, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,275,000

Aggregate Cash Distribution

693,000

Distributions Invested in Shares of Common Stock

1,582,000

Per Common Share

$0.03

Record Date of September 30, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

2,278,000

Aggregate Cash Distribution

697,000

Distributions Invested in Shares of Common Stock

1,581,000

Per Common Share

$0.03

Record Date of October 31, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

3,426,000

Aggregate Cash Distribution

1,055,000

Distributions Invested in Shares of Common Stock

2,371,000

Per Common Share

$0.05

Record Date of November 27, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

3,437,000

Aggregate Cash Distribution

1,061,000

Distributions Invested in Shares of Common Stock

2,376,000

Per Common Share

$0.05

Record Date of December 30, 2014 [Member]

Securities Financing Transaction [Line Items]

Aggregate Cash Distribution

3,449,000

Aggregate Cash Distribution

1,060,000

Distributions Invested in Shares of Common Stock

$2,389,000

Per Common Share

$0.05

Common Stock [Member] | Dividend Distribution One [Member]

Securities Financing Transaction [Line Items]

Number of stock distributions

Common Stock Dividend Rate

1.50%

Common Stock [Member] | Dividend Distribution Two [Member]

Securities Financing Transaction [Line Items]

Number of stock distributions

Common Stock Dividend Rate

0.75%

Common Stock [Member] | Dividend Distribution Three [Member]

Securities Financing Transaction [Line Items]

Number of stock distributions

Common Stock Dividend Rate

0.59%

Common Stock [Member] | Dividend Distribution Four [Member]

Securities Financing Transaction [Line Items]

Number of stock distributions

Common Stock Dividend Rate

0.50%

FAIR_VALUE_MEASURES_AND_DISCLO2

FAIR VALUE MEASURES AND DISCLOSURES - Rental Properties, Net, Measured at Fair Value on a Recurring Basis (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$114	$290
Assets, Fair Value Disclosure	114	290
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0	0
Assets, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	114	290
Assets, Fair Value Disclosure	114	290
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0	0
Assets, Fair Value Disclosure	$0	$0

FAIR_VALUE_MEASURES_AND_DISCLO3

FAIR VALUE MEASURES AND DISCLOSURES - Rental Properties, Net, Measured at Fair Value on a Nonrecurring Basis (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Assets:
Rental properties, net	$775,254	$390,373
Nonrecurring Basis [Member]
Assets:
Rental properties, net		13,693
Nonrecurring Basis [Member] \| Deerfield [Member]
Assets:
Rental properties, net		13,693
Nonrecurring Basis [Member] \| Fair Value, Inputs, Level 1 [Member]
Assets:
Rental properties, net		0
Nonrecurring Basis [Member] \| Fair Value, Inputs, Level 1 [Member] \| Deerfield [Member]
Assets:
Rental properties, net		0
Nonrecurring Basis [Member] \| Fair Value, Inputs, Level 2 [Member]
Assets:
Rental properties, net		0
Nonrecurring Basis [Member] \| Fair Value, Inputs, Level 2 [Member] \| Deerfield [Member]
Assets:
Rental properties, net		0
Nonrecurring Basis [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets:
Rental properties, net		13,693
Nonrecurring Basis [Member] \| Fair Value, Inputs, Level 3 [Member] \| Deerfield [Member]
Assets:
Rental properties, net		$13,693

FAIR_VALUE_MEASURES_AND_DISCLO4

FAIR VALUE MEASURES AND DISCLOSURES - Schedule of Carrying and Fair Values (Details) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Mar. 03, 2014	Dec. 31, 2014	Dec. 31, 2013
	Mar. 03, 2014	credit_facility	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of credit facilities		3
Peterson Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Offer for sale of loans held for investment	$24
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment, net		1,523	1,724
Preferred equity investment		3,462	0
Mortgage notes payable		-444,168	-111,811
Credit facilities		-45,586	-37,041
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment, net		1,523	1,724
Preferred equity investment		3,462	0
Mortgage notes payable		-450,269	-110,413
Credit facilities		-45,586	($37,041)

DERIVATIVES_AND_HEDGING_ACTIVI2

DERIVATIVES AND HEDGING ACTIVITIES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Amount to be reclassified to interest expense	$4,168
Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	114,000	290,000
Cash Flow Hedging [Member]
Derivatives, Fair Value [Line Items]
Number of Instruments	3	2
Cash Flow Hedging [Member] \| Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Number of Instruments	5
Notional	$75,733,000

OPERATING_EXPENSE_LIMITATION_D

OPERATING EXPENSE LIMITATION (Details)	Dec. 31, 2014
OPERATING EXPENSE LIMITATION (Details)	Quarter
OPERATING EXPENSE LIMITATION WAIVER [Abstract]
Average invested assets (in hundredths)	2.00%
Net income of operating expense (in hundredths)	25.00%
Number of most recently completed fiscal quarters for which Company must limit its operating expenses	4

GAIN_ON_INSURANCE_CLAIM_Detail

GAIN ON INSURANCE CLAIM (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	Dec. 31, 2014	Unit
Stone Ridge [Member]
Business Acquisition [Line Items]
Number of units damaged by fire		13
Net insurance proceeds receivable	$369,000
Mosaic Apartments [Member]
Business Acquisition [Line Items]
Net insurance proceeds receivable	$56,000

GAIN_ON_FORECLOSURES_Details

GAIN ON FORECLOSURES (Details) (USD $)	12 Months Ended		0 Months Ended
GAIN ON FORECLOSURES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Jan. 22, 2013
Gain On Foreclosure [Line Items]
Gain on foreclosures	$0	$3,459,000
Foreclosure [Member]
Gain On Foreclosure [Line Items]
Fair value of the property exceeding carrying value			3,400,000
Adjustment to security deposits			81,000
Gain on foreclosures			$3,500,000

SUBSEQUENT_EVENTS_Narrative_De

SUBSEQUENT EVENTS - Narrative (Details) (Subsequent Event [Member], USD $)	0 Months Ended
	Feb. 26, 2015	Mar. 19, 2015	Jan. 26, 2015	Jan. 29, 2015	Feb. 27, 2015	Mar. 02, 2015
The Alcove - Houston, TX [Member]
Subsequent Event [Line Items]
Sale price			$11,100,000
107th Avenue Apartments [Member]
Subsequent Event [Line Items]
Sale price				250,000
Redford Apartments [Member]
Subsequent Event [Line Items]
Sale price					32,300,000
Cityside Apartments [Member]
Subsequent Event [Line Items]
Sale price						24,500,000
The Woodmoor [Member]
Subsequent Event [Line Items]
Number of Units in Real Estate Property	208
Business Combination, Consideration Transferred	24,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	12,900,000
The Springs at Gilbert Meadows [Member]
Subsequent Event [Line Items]
Number of Units in Real Estate Property		459
Business Combination, Consideration Transferred		$36,000,000

SCHEDULE_III_Real_Estate_and_A1

SCHEDULE III Real Estate and Accumulated Depreciation (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$444,168
Initial cost to Company	778,433
Cost capitalized subsequent to acquisition	78,718
Gross Amount at which carried at close of period	857,151	406,149
Accumulated Depreciation	-45,133
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, beginning of the period	406,149	126,640
Additions during period:
Acquisitions	436,626	255,149
Improvements, etc.	37,384	25,834
Dispositions during the period	-23,008	-1,474
Balance, at close of period	857,151	406,149
Residential Omaha, NE [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	221
Cost capitalized subsequent to acquisition	18
Gross Amount at which carried at close of period	239
Accumulated Depreciation	-36
Additions during period:
Balance, at close of period	239
Residential Philadelphia, PA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,900
Initial cost to Company	11,076
Cost capitalized subsequent to acquisition	4,103
Gross Amount at which carried at close of period	15,179
Accumulated Depreciation	-2,239
Additions during period:
Balance, at close of period	15,179
Residential Houston, TX, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	9,570
Cost capitalized subsequent to acquisition	11,156
Gross Amount at which carried at close of period	20,726
Accumulated Depreciation	-4,568
Additions during period:
Balance, at close of period	20,726
Residential Dayton, OH [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,190
Initial cost to Company	8,273
Cost capitalized subsequent to acquisition	1,035
Gross Amount at which carried at close of period	9,308
Accumulated Depreciation	-1,107
Additions during period:
Balance, at close of period	9,308
Residential Cincinnati, OH [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	39,341
Cost capitalized subsequent to acquisition	10,984
Gross Amount at which carried at close of period	50,325
Accumulated Depreciation	-6,811
Additions during period:
Balance, at close of period	50,325
Residential Oklahoma City, OK [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	1,961
Cost capitalized subsequent to acquisition	3,795
Gross Amount at which carried at close of period	5,756
Accumulated Depreciation	-729
Additions during period:
Balance, at close of period	5,756
Residential Memphis, TN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	1,938
Cost capitalized subsequent to acquisition	1,560
Gross Amount at which carried at close of period	3,498
Accumulated Depreciation	-528
Additions during period:
Balance, at close of period	3,498
Residential Houston, TX, Property Three [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	13,662
Cost capitalized subsequent to acquisition	1,327
Gross Amount at which carried at close of period	14,989
Accumulated Depreciation	-1,199
Additions during period:
Balance, at close of period	14,989
Residential Houston, TX, Property Four [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	5,087
Cost capitalized subsequent to acquisition	2,816
Gross Amount at which carried at close of period	7,903
Accumulated Depreciation	-1,071
Additions during period:
Balance, at close of period	7,903
Residential Hermantown, MN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	10,530
Initial cost to Company	9,620
Cost capitalized subsequent to acquisition	4,800
Gross Amount at which carried at close of period	14,420
Accumulated Depreciation	-1,207
Additions during period:
Balance, at close of period	14,420
Residential Lexington, KY [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	6,345
Cost capitalized subsequent to acquisition	3,820
Gross Amount at which carried at close of period	10,165
Accumulated Depreciation	-1,173
Additions during period:
Balance, at close of period	10,165
Residential Houston, TX, Property Five [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,574
Initial cost to Company	11,080
Cost capitalized subsequent to acquisition	2,528
Gross Amount at which carried at close of period	13,608
Accumulated Depreciation	-1,108
Additions during period:
Balance, at close of period	13,608
Residential Hoover, AL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	8,064
Cost capitalized subsequent to acquisition	2,893
Gross Amount at which carried at close of period	10,957
Accumulated Depreciation	-744
Additions during period:
Balance, at close of period	10,957
Residential Houston, TX, Property Six [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	19,335
Initial cost to Company	26,496
Cost capitalized subsequent to acquisition	3,026
Gross Amount at which carried at close of period	29,522
Accumulated Depreciation	-1,756
Additions during period:
Balance, at close of period	29,522
Residential Winter Park, FL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	9,494
Cost capitalized subsequent to acquisition	2,683
Gross Amount at which carried at close of period	12,177
Accumulated Depreciation	-771
Additions during period:
Balance, at close of period	12,177
Residential Plano, TX [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	31,001
Cost capitalized subsequent to acquisition	3,382
Gross Amount at which carried at close of period	34,383
Accumulated Depreciation	-1,758
Additions during period:
Balance, at close of period	34,383
Residential Newport News, VA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	17,583
Cost capitalized subsequent to acquisition	1,681
Gross Amount at which carried at close of period	19,264
Accumulated Depreciation	-1,004
Additions during period:
Balance, at close of period	19,264
Residential Littleton, CO [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,843
Initial cost to Company	29,509
Cost capitalized subsequent to acquisition	2,022
Gross Amount at which carried at close of period	31,531
Accumulated Depreciation	-1,268
Additions during period:
Balance, at close of period	31,531
Residential Westminster, CO [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	18,446
Initial cost to Company	23,321
Cost capitalized subsequent to acquisition	2,595
Gross Amount at which carried at close of period	25,916
Accumulated Depreciation	-1,082
Additions during period:
Balance, at close of period	25,916
Residential Alpharetta, GA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	20,298
Initial cost to Company	24,192
Cost capitalized subsequent to acquisition	2,510
Gross Amount at which carried at close of period	26,702
Accumulated Depreciation	-957
Additions during period:
Balance, at close of period	26,702
Residential San Antonio, TX [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,089
Initial cost to Company	21,831
Cost capitalized subsequent to acquisition	3,043
Gross Amount at which carried at close of period	24,874
Accumulated Depreciation	-1,002
Additions during period:
Balance, at close of period	24,874
Residential Burnsville, MN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	32,142
Cost capitalized subsequent to acquisition	250
Gross Amount at which carried at close of period	32,392
Accumulated Depreciation	-1,107
Additions during period:
Balance, at close of period	32,392
Residential, Louisville, Kentucky [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	16,634
Initial cost to Company	26,632
Cost capitalized subsequent to acquisition	370
Gross Amount at which carried at close of period	27,002
Accumulated Depreciation	-927
Additions during period:
Balance, at close of period	27,002
Residential, Woodlawn, Ohio [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,804
Initial cost to Company	19,892
Cost capitalized subsequent to acquisition	456
Gross Amount at which carried at close of period	20,348
Accumulated Depreciation	-750
Additions during period:
Balance, at close of period	20,348
Residential, Norcross, Georgia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	27,762
Initial cost to Company	33,752
Cost capitalized subsequent to acquisition	518
Gross Amount at which carried at close of period	34,270
Accumulated Depreciation	-1,289
Additions during period:
Balance, at close of period	34,270
Residential, Columbia, South Carolina [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to Company	5,912
Cost capitalized subsequent to acquisition	2,261
Gross Amount at which carried at close of period	8,173
Accumulated Depreciation	-342
Additions during period:
Balance, at close of period	8,173
Residential Alpharetta Georgia, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	50,000
Initial cost to Company	69,111
Cost capitalized subsequent to acquisition	1,426
Gross Amount at which carried at close of period	70,537
Accumulated Depreciation	-1,939
Additions during period:
Balance, at close of period	70,537
Residential Baton Rouge, Louisiana [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,117
Initial cost to Company	42,001
Cost capitalized subsequent to acquisition	261
Gross Amount at which carried at close of period	42,262
Accumulated Depreciation	-1,601
Additions during period:
Balance, at close of period	42,262
Residential Plano Texas, Construction Year 2000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,587
Initial cost to Company	14,562
Cost capitalized subsequent to acquisition	-3
Gross Amount at which carried at close of period	14,559
Accumulated Depreciation	-376
Additions during period:
Balance, at close of period	14,559
Residential Atlanta Georgia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	18,007
Initial cost to Company	28,911
Cost capitalized subsequent to acquisition	287
Gross Amount at which carried at close of period	29,198
Accumulated Depreciation	-584
Additions during period:
Balance, at close of period	29,198
Residential Atlanta Georgia, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	14,211
Initial cost to Company	21,796
Cost capitalized subsequent to acquisition	439
Gross Amount at which carried at close of period	22,235
Accumulated Depreciation	-421
Additions during period:
Balance, at close of period	22,235
Residential Katy Texas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	24,162
Initial cost to Company	31,385
Cost capitalized subsequent to acquisition	-159
Gross Amount at which carried at close of period	31,226
Accumulated Depreciation	-545
Additions during period:
Balance, at close of period	31,226
Residential Shawnee Kansas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	13,523
Initial cost to Company	18,250
Cost capitalized subsequent to acquisition	768
Gross Amount at which carried at close of period	19,018
Accumulated Depreciation	-761
Additions during period:
Balance, at close of period	19,018
Residential Lee's Summit Missouri [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,407
Initial cost to Company	11,898
Cost capitalized subsequent to acquisition	371
Gross Amount at which carried at close of period	12,269
Accumulated Depreciation	-523
Additions during period:
Balance, at close of period	12,269
Residential Kansas City Missouri [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,239
Initial cost to Company	9,691
Cost capitalized subsequent to acquisition	453
Gross Amount at which carried at close of period	10,144
Accumulated Depreciation	-438
Additions during period:
Balance, at close of period	10,144
Residential San Antonio Texas, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	24,039
Initial cost to Company	34,554
Cost capitalized subsequent to acquisition	-353
Gross Amount at which carried at close of period	34,201
Accumulated Depreciation	-298
Additions during period:
Balance, at close of period	34,201
Residential Irving Texas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	36,375
Initial cost to Company	47,075
Cost capitalized subsequent to acquisition	-508
Gross Amount at which carried at close of period	46,567
Accumulated Depreciation	-398
Additions during period:
Balance, at close of period	46,567
Residential Yorktown Virginia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	15,096
Initial cost to Company	21,204
Cost capitalized subsequent to acquisition	104
Gross Amount at which carried at close of period	21,308
Accumulated Depreciation	-716
Additions during period:
Balance, at close of period	$21,308
Minimum [Member] \| Residential Omaha, NE [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Philadelphia, PA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Houston, TX, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Dayton, OH [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Cincinnati, OH [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Oklahoma City, OK [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Memphis, TN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Houston, TX, Property Three [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Houston, TX, Property Four [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Hermantown, MN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Lexington, KY [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Houston, TX, Property Five [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Hoover, AL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Houston, TX, Property Six [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Winter Park, FL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Plano, TX [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Newport News, VA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Littleton, CO [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Westminster, CO [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Alpharetta, GA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential San Antonio, TX [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Burnsville, MN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential, Louisville, Kentucky [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential, Woodlawn, Ohio [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential, Norcross, Georgia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential, Columbia, South Carolina [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Alpharetta Georgia, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Baton Rouge, Louisiana [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Plano Texas, Construction Year 2000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Atlanta Georgia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Atlanta Georgia, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Katy Texas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Shawnee Kansas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Lee's Summit Missouri [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Kansas City Missouri [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential San Antonio Texas, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Irving Texas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Minimum [Member] \| Residential Yorktown Virginia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	3 years
Maximum [Member] \| Residential Omaha, NE [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Philadelphia, PA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Houston, TX, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Dayton, OH [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Cincinnati, OH [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Oklahoma City, OK [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Memphis, TN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Houston, TX, Property Three [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Houston, TX, Property Four [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Hermantown, MN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Lexington, KY [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Houston, TX, Property Five [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Hoover, AL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Houston, TX, Property Six [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Winter Park, FL [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Plano, TX [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Newport News, VA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Littleton, CO [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Westminster, CO [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Alpharetta, GA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential San Antonio, TX [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Burnsville, MN [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential, Louisville, Kentucky [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential, Woodlawn, Ohio [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential, Norcross, Georgia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential, Columbia, South Carolina [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Alpharetta Georgia, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Baton Rouge, Louisiana [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Plano Texas, Construction Year 2000 [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Atlanta Georgia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Atlanta Georgia, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Katy Texas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Shawnee Kansas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Lee's Summit Missouri [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Kansas City Missouri [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential San Antonio Texas, Property Two [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Irving Texas [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months
Maximum [Member] \| Residential Yorktown Virginia [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which Depreciation in Latest Income is Computed	27 years 6 months

SCHEDULE_IV_Mortgage_Loans_on_1

SCHEDULE IV Mortgage Loans on Real Estate (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Face amount of mortgages	$1,858
Carrying amount of mortgages	1,523
Principal amount of loans subject to delinquent principal or interest	0
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning of the period	1,724
Interest accretion	26
Principal reductions	-227
Balance, end of the period	1,523
Residential - Columbia City, IN [Member]
Mortgage Loans on Real Estate [Line Items]
Face amount of mortgages	1,058
Carrying amount of mortgages	747
Principal amount of loans subject to delinquent principal or interest	0
Interest rate	7.50%
Residential - Hermantown, MN [Member]
Mortgage Loans on Real Estate [Line Items]
Face amount of mortgages	800
Carrying amount of mortgages	776
Principal amount of loans subject to delinquent principal or interest	$0
Interest rate	4.00%