Reven Housing REIT (RVEN) 10-Q/A 24 Apr 15 2014 Q3 Quarterly report (amended) Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 10, 2014
Document Information [Line Items]
Entity Registrant Name	Reven Housing REIT, Inc.
Entity Central Index Key	1487782
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Trading Symbol	RVEN
Entity Common Stock, Shares Outstanding		7,016,796
Document Type	10-Q
Amendment Flag	TRUE
Amendment Description	This Amendment No. 1 on Form 10-Q/A (“Amendment No. 1”) is being filed to effect a restatement of the previously issued consolidated financial statements of Reven Housing REIT, Inc. (either the “Company,” “we” or “our”) as of and for the three and nine months ended September 30, 2014 filed as part of the Company’s Quarterly Report on Form 10-Q filed with the SEC on November 12, 2014 (“Original Form 10-Q”). The Company is restating its previously issued third quarter 2014 consolidated financial statements to correct an error that resulted from the inadvertent failure to properly account for our portfolio acquisitions of leased single family homes as asset acquisitions instead of business acquisitions. In addition, a portion of the purchase price relating to our third quarter 2014 acquisitions should have been allocated on our balance sheet to lease origination costs instead of building values. This Amendment No.1 amends and restates Items 1, 2 and 4 of Part I of the Original Form 10-Q to reflect the effects of the restatements. In addition, in accordance with Rule 12b-15 promulgated under the Securities and Exchange Act of 1934, as amended, this Amendment also includes updated certifications from our Chief Executive Officer and Chief Financial Officer as Exhibits 31.1, 31.2 and 32.1. The remaining Items contained within this Amendment No. 1 consist of all other Items originally contained in Original Form 10-Q. This Amendment No. 1 does not reflect events occurring after the filing of the Original Form 10-Q or modify or update those disclosures in any way other than as required to reflect the effects of the restatements.
Document Period End Date	30-Sep-14
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2014

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
Investment in real estate:
Land	$4,090,909	$2,514,009
Buildings and improvements	17,917,326	9,685,361
Investment in real estate,Gross	22,008,235	12,199,370
Accumulated depreciation	-430,552	-73,950
Investment in real estate, net	21,577,683	12,125,420
Cash	6,584,098	2,134,510
Rents and other receivables	95,714	10,053
Tax and insurance reserves	169,740	0
Escrow deposits and prepaid expenses	896,545	151,128
Lease origination costs, net	124,886	75,038
Loan fees, net	253,177	0
Deferred stock issuance costs	472,357	35,000
Total Assets	30,174,200	14,531,149
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	722,329	347,179
Security deposits	253,870	156,985
Note payable	7,570,000	0
Total Liabilities	8,546,199	504,164
Commitments (Note 9)
Stockholders' Equity
Preferred stock, $.001 par value; 25,000,000 shares authorized; No shares issued & outstanding	0	0
Common stock, $.001 par value; 100,000,000 shares authorized; 4,393,044 and 6,591,796 shares issued & outstanding at December 31, 2013 and September 30, 2014, respectively	6,592	4,393
Additional paid-in capital	24,601,719	16,036,648
Accumulated deficit	-2,980,310	-2,014,056
Total Stockholders' Equity	21,628,001	14,026,985
Total Liabilities and Stockholders' Equity	$30,174,200	$14,531,149

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	6,591,796	4,393,044
Common stock, shares outstanding	6,591,796	4,393,044

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Rental income, net	$740,778	$14,193	$1,716,758	$55,817
Operating expenses:
Rental expenses	262,311	11,978	682,700	25,718
General and administrative	278,543	17,060	988,790	121,599
Legal and accounting	49,809	21,536	219,661	114,411
Real estate acquisition costs	256,764	0	295,122	0
Interest expense	50,603	25,081	53,090	77,382
Amortization of discount on notes payable	0	281,625	0	563,253
Depreciation and amortization	240,650	4,200	443,650	12,600
Total operating expenses	1,138,680	361,480	2,683,013	914,963
Net loss	($397,902)	($347,287)	($966,255)	($859,146)
Net loss per share
(Basic and fully diluted) (in dollars per share)	($0.06)	($0.64)	($0.17)	($1.86)
Weighted average number of common shares outstanding (in shares)	6,591,796	546,872	5,610,265	461,098

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash Flows From Operating Activities:
Net loss	($966,255)	($859,146)
Adjustments to reconcile net loss to Net cash used for operating activities:
Amortization of debt discount	0	563,253
Stock compensation	195,000	0
Depreciation and amortization	443,650	12,600
Changes in operating assets and liabilities:
Rents and other receivables	-85,661	-7,090
Tax and insurance reserves	-169,740	0
Accounts payable, accrued expenses, accrued interest and security deposits	472,035	-76,242
Related party advances	0	-263,877
Net cash used for operating activities	-110,971	-630,502
Cash Flows From Investing Activities:
Additions to investments in real estate	-9,808,865	-263,428
Lease origination costs	-123,569	0
Payments for escrow deposits and prepaids on residential homes	-1,590,763	0
Reduction of escrow deposits and prepaids expenses	845,346	0
Net cash used for investing activities	-10,677,851	-263,428
Cash Flows From Financing Activities:
Proceeds from notes payable	7,570,000	500,000
Payment of convertible notes payable	0	-152,176
Loan fees	-266,503	0
Net proceeds from common stock issuance	8,372,270	10,646,457
Payments for deferred stock issuance costs	-437,357	0
Net cash provided by financing activities	15,238,410	10,994,281
Net Increase In Cash	4,449,588	10,100,351
Cash at the Beginning of the Period	2,134,510	5,763
Cash at the End of the Period	6,584,098	10,106,114
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Debt discount for allocation of proceeds to warrants and beneficial conversion feature of debt	0	291,920
Conversion of debt to common shares	0	902,176
Deferred costs of common stock issuance	0	50,000
Supplemental Disclosure:
Cash paid for interest	$34,778	$0

ORGANIZATION_OPERATIONS_AND_SU

ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	NOTE 1. ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Reven Housing REIT, Inc. was initially incorporated in the State of Colorado and then converted to a Maryland corporation on April 1,  2014 (Reven Housing REIT, Inc., along with its subsidiaries, are also referred to herein collectively as the “Company”). The Company acquires portfolios of occupied and rented single-family homes throughout the United States with the objective of receiving income from rental property activity and future profits from the sale of rental property at appreciated values.
	Restatement of Consolidated Financial Statements
	In connection with preparing the annual financial information for the year ending December 31, 2014, prior period errors were identified which affected the annual period ended December 31, 2013, and the quarterly period ending September 30, 2014. These errors occurred in the Company’s accounting for the acquisition of certain real property portfolios of single family homes included in investment in real estate and involve acquisition costs that were improperly capitalized, and the reallocation of acquisition values from building and improvements to lease origination costs. These errors require the Company to restate previously reported financial results contained in this report. The effects of these prior period errors in the consolidated financial statements for the period ended December 31, 2013 are disclosed in the Form 10K/A filing for that period. The changes to the condensed consolidated financial statements for the period ended September 30, 2014 are shown in the following table and include reclassification of expenses in order to enable the presentation to be consistent with the December 31, 2013 year end amended filing.
		September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Balance Sheet
	Buildings and improvements	$	22,008,235	$	22,693,455	$	-685,220
	Accumulated depreciation	$	-430,552	$	-432,802	$	2,250
	Investment in real estate, net	$	21,577,683	$	22,260,653	$	-682,970
	Lease origination costs, net	$	124,886	$	-	$	124,886
	Total Assets	$	30,174,200	$	30,732,284	$	-558,084
	Accumulated deficit	$	-2,980,310	$	-2,422,226	$	-558,084
	Total Stockholders' Equity	$	21,628,001	$	22,186,085	$	-558,084
	Total Liabilities and Stockholders' Equity	$	30,174,200	$	30,732,284	$	-558,084
		Three months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Operations
	Rental expenses	$	262,311	$	317,444	$	-55,133
	Legal and accounting	$	49,809	$	69,054	$	-19,245
	Real estate acquisition costs	$	256,764	$	-	$	256,764
	Depreciation and amortization	$	240,650	$	166,928	$	73,722
	Total operating expenses	$	1,138,680	$	882,572	$	256,108
	Net loss	$	-397,902	$	-141,794	$	-256,108
	Net loss per share	$	-0.06	$	-0.02	$	-0.04
		Nine months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Operations
	Rental expenses	$	682,700	$	737,833	$	-55,133
	General and administrative	$	988,790	$	1,005,648	$	-16,858
	Legal and accounting	$	219,661	$	260,406	$	-40,745
	Real estate acquisition costs	$	295,122	$	-	$	295,122
	Depreciation and amortization	$	443,650	$	369,928	$	73,722
	Total operating expenses	$	2,683,013	$	2,426,905	$	256,108
	Net loss	$	-966,255	$	-710,147	$	-256,108
	Net loss per share	$	-0.17	$	-0.13	$	-0.04
		Nine months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Cash Flows
	Net loss	$	-966,255	$	-710,147	$	-256,108
	Depreciation and amortization	$	443,650	$	369,928	$	73,722
	Net cash used for operating activities	$	-110,971	$	71,415	$	-182,386
	Acquisitions of investments in real estate	$	-9,808,865	$	-10,114,820	$	305,955
	Lease origination costs	$	-123,569	$	-	$	-123,569
	Net cash used for investing activities	$	-10,677,851	$	-10,860,237	$	182,386
	Basis of Presentation
	The accompanying unaudited condensed consolidated interim financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, all adjustments (which include only normal recurring adjustments except as noted in management’s discussion and analysis of financial condition and results of operations) necessary to present fairly the financial position, results of operations and changes in cash flows have been made.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the 2013 Annual Report on Form 10-KA, filed April 17, 2015. The results of operations for the period ended September 30, 2014 are not necessarily indicative of the operating results for the full year.
	On November 5, 2014, the Company effected a 1-for-20 reverse stock split of the issued common stock. Each stockholder’s percentage ownership and proportional voting power generally remained unchanged as a result of the reverse stock split. All applicable share data, per share amounts and related information in the condensed consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the 1-for-20 reverse stock split. See Note 5.
	Principles of Consolidation
	The accompanying financial statements consolidate the accounts of the Company and its wholly-owned subsidiaries, Reven Housing Georgia, LLC, Reven Housing Texas, LLC, Reven Housing Florida, LLC, and Reven Housing Tennessee, LLC. All significant inter-company transactions have been eliminated in consolidation.
	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-09 Revenue from Contracts with Customers, or ASU No. 2014-09, which will supersede nearly all existing revenue recognition guidance under GAAP. ASU No. 2014-09 provides that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update also 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, and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption and will become effective for the Company in the fourth quarter of 2017.
	The Company has adopted all recently issued accounting pronouncements. The adoption of the accounting pronouncements, including those not yet effective, is not anticipated to have a material effect on the financial position or results of operations of the Company.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.
	Rents and Other Receivables
	Rents and other receivables represent the amount of rent receivables, security deposits and net rental funds which are held by the property manager on behalf of the Company, net of any allowance for amounts deemed uncollectible.
	Tax and Insurance reserves
	Tax and insurance reserves represent amounts held in accordance with the terms of our loan for taxes and insurance.
Loan Fees
Loan closing costs and fees totaled $266,503 and will be amortized over the term of the loan which is 60 months. For the  three and nine months ended September 30, 2014, amortization expense for these loan fees was $13,326.
Deferred Stock Issuance Costs
Deferred stock issuance costs represent amounts paid for consulting services and other offering expenses in conjunction with the future raising of additional capital to be performed within one year. These costs are charged against additional paid-in capital as a cost of the stock issuance upon closing of the respective stock placement.
Warrant Issuance and Note Conversion Feature
The Company accounts for the proceeds from the issuance of convertible notes payable with detachable stock purchase warrants and embedded conversion features in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 470-20, Debt with Conversion and Other Options. Under FASB ASC 470-20, the proceeds from the issuance of a debt instrument with detachable stock purchase warrants shall be allocated to the two elements based on the relative fair values of the debt instrument without the warrants and of the warrants themselves at the time of issuance. The portion of the proceeds allocated to the warrants is accounted for as additional paid-in capital and the remaining proceeds are allocated to the debt instrument which resulted in a discount to debt which is amortized and charged as interest expense over the term of the note agreement. Additionally, pursuant to FASB ASC 470-20, the intrinsic value of the embedded conversion feature of the convertible notes payable is included in the discount to debt and amortized and charged to interest expense over the life of the note agreement.
Revenue Recognition
Property is leased under rental agreements of generally one year and revenue is recognized over the lease term on a straight-line basis.
Income Taxes
The Company intends to elect to be taxed as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code, upon meeting the necessary requirements. Management believes that the Company will be able to satisfy the requirements for qualification as a REIT. Accordingly, the Company is not expecting to be subject to federal income tax, provided that it qualifies as a REIT and distributions to the stockholders equal or exceed REIT taxable income.
However, qualification and taxation as a REIT depends upon the Company’s ability to meet the various qualification tests imposed under the Internal Revenue Code related to the percentage of income that are earned from specified sources, the percentage of assets that fall within specified categories, the diversity of capital stock ownership, and the percentage of earnings that are distributed. Accordingly, no assurance can be given that the Company will be organized or be able to operate in a manner so as to qualify or remain qualified as a REIT. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal and state income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate tax rates, and the Company may be ineligible to qualify as a REIT for four subsequent tax years. Even if the Company qualifies as a REIT, it may be subject to certain state or local income taxes.
The tax benefit of uncertain tax positions is recognized only if it is “more likely than not” that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full knowledge of relevant information. The measurement of a tax benefit for an uncertain tax position that meets the “more likely than not” threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority, having full knowledge of all the relevant information. As of December 31, 2013 and September 30, 2014, the Company had no unrecognized tax benefits. The Company does not anticipate a significant change in the total amount of unrecognized tax benefits during 2014.
Incentive Compensation Plan
During 2012, the Company established the 2012 Incentive Compensation Plan, which was subsequently amended and restated in December 2013 (“2012 Plan”). The 2012 Plan allows for the grant of options and other awards representing up to 1,650,000 shares of the Company’s common stock. Such awards may be granted to officers, directors, employees, consultants and other persons who provide services to the Company or any related entity. Under the 2012 Plan, options may be granted at an exercise price greater than or equal to the market value at the date of the grant, for owners of 10% or more of the voting shares, at an exercise price of not less than 110% of the market value. Awards are exercisable over a period of time as determined by a committee designated by the Board of Directors, but in no event longer than ten years.
On April 4, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 48,750 shares of the Company’s common stock under the 2012 Plan to the members of the Board of Directors as compensation for their services.
On October 16, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 425,000 shares of the Company’s common stock under the 2012 Plan to certain officers and consultants of the Company. The shares issued are subject to restrictions and future vesting conditions based on the Company reaching certain future milestones. None of the shares were vested as of the issuance date.
Net Loss Per Share
Net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share. For the nine months ended September 30, 2013, and 2014, potentially dilutive securities excluded from the calculations were 263,588 shares issuable upon exercise of outstanding warrants granted in conjunction with the convertible notes.
Financial Instruments
The carrying value of the Company’s financial instruments, as reported in the accompanying condensed consolidated balance sheets, approximates fair value.
Security Deposits
Security deposits represent amounts deposited by tenants at the inception of the lease.
Use of Estimates
The preparation of the condensed consolidated financial statements in conformity with 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 balance sheet dates and reported amounts of expenses for the periods presented. Accordingly, actual results could differ from those estimates. Significant estimates include assumptions used to determine the allocation of purchase prices of property acquisitions.
Investments in Real Estate
The Company accounts for its investments in real estate as business combinations under the guidance of FASB ASC Topic 805, Business Combinations (“ASC 805”) and these acquisitions are recorded at fair value, allocated to land, building and the existing leases based upon their fair values at the date of acquisition, with acquisition costs expensed as incurred. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes its own market knowledge and published market data. The estimated fair value of acquired in-place leases represents the expected costs the Company would have incurred to lease the property at the date of acquisition. Each portfolio of acquired property is recorded as a separate business combination.
Land, buildings and improvements are recorded at cost. Buildings and improvements are depreciated over estimated useful lives of approximately 27.5 years using the straight-line method. Lease origination costs are amortized over the average remaining term of the in-place leases which is generally less than one year. Maintenance and repair costs are charged to expenses as incurred.
The Company assesses the impairment of investments in real estate, whenever events or changes in business circumstances indicate that carrying amounts of the assets may not be fully recoverable. When such events occur, management determines whether there has been impairment by comparing the asset’s carrying value with its fair value. Should impairment exist, the asset is written down to its estimated fair value. The Company has not recognized any impairment losses through September 30, 2014.
Reclassifications
Certain amounts for 2013 have been reclassified to conform to the current period’s presentation.

RESIDENTIAL_HOMES

RESIDENTIAL HOMES	9 Months Ended
	Sep. 30, 2014
Residential Homes [Abstract]
Residential Homes [Text Block]	NOTE 2. RESIDENTIAL HOMES
	Residential homes purchased by the Company are recorded at cost. The homes are leased on short-term leases expiring on various dates primarily over the coming year.
	The following table represents the Company’s investment in the homes and allocates purchase price in accordance with ASC 805:
		Number				Residential		Total
		of Homes		Land		Homes		Investment
	Total at December 31, 2013		159	$	2,514,009	$	9,685,361	$	12,199,370
	Purchases and improvements during 2014:
	Houston, TX		18		319,500		1,236,765		1,556,265
	Jacksonville, FL		47		479,700		2,745,578		3,225,278
	Memphis, TN		69		777,700		4,229,978		5,007,678
	Atlanta, GA improvements		-		-		19,644		19,644
	Total at September 30, 2014		293	$	4,090,909	$	17,917,326	$	22,008,235

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	9 Months Ended
	Sep. 30, 2014
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 3. ACCOUNTS PAYABLE AND ACCRUED EXPENSES
	At December 31, 2013 and September 30, 2014, accounts payable and accrued expenses consisted of the following:
		2013		2014
	Accounts payable	$	89,666	$	74,926
	Accrued property taxes		196,141		197,606
	Accrued legal, board fees and other expenses		61,372		422,987
	Accrued interest		-		26,810
		$	347,179	$	722,329

NOTE_PAYABLE

NOTE PAYABLE	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 4. NOTE PAYABLE
	On June 12, 2014, Reven Housing Texas, LLC, a wholly owned subsidiary of the Company, issued a promissory note in the principal amount of up to $7,570,000 to Silvergate Bank, secured by deeds of trust encumbering the Company’s homes located in Texas. The entire balance of principal and accrued interest is due and payable on July 5, 2019. The note provides for monthly payments of interest only at a rate of 1.00% over the prime rate (current interest rate is 4.25%) until July 5, 2016. Thereafter, monthly payments of interest and principal, assuming a 25 year amortization rate will be made until maturity. The note has a prepayment penalty of 3% calculated on principal amounts prepaid prior to July 5, 2016. There is no prepayment penalty on amounts paid after that date. Loan closing costs and fees totaled $266,503 and will be amortized over the term of the loan which is 60 months.
	The terms of the note also provide for escrows of taxes and insurance reserves. As of September 30, 2014, a total of $169,740 of cash was held in these lender escrow accounts.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]
Stockholders Equity Note Disclosure [Text Block]	NOTE 5. STOCKHOLDERS’ EQUITY
	On April 4, 2014, in a separate follow-on private placement to the September 27, 2013 private placement, the Company issued an additional 675,000 shares of its common stock for a purchase price of $4.00 per share for gross proceeds of $2,700,000. On May 16, 2014, the Company completed the final tranche of this follow-on private placement with the same accredited investor upon the receipt of additional gross proceeds of $5,900,000 and issued an additional 1,475,000 shares of its common stock for a purchase price of $4.00 per share. Offering costs related to this follow-on private placement totaled $227,730 resulting in combined net proceeds of $8,372,270.
	On November 5, 2014, the Company effected a 1-for-20 reverse stock split of issued common stock. In conjunction with the reverse stock split, the Board of Directors approved a change in the number of authorized common shares from 600,000,000 to 100,000,000, which change was effected immediately after the effectiveness of the reverse stock split. Additionally, the par value of the shares was modified from $.02 to $.001 per share so that the par value per share of the common stock before the reverse stock split and after the reverse stock split remained at $.001 per share. References in these condensed consolidated financial statements and notes have been adjusted to retroactively account for the effects of the reverse split.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 6. INCOME TAXES
	The Company plans to elect REIT status when it meets all requirements allowing it to do so. At that time, the Company would generally not be subject to income taxes assuming it complied with the specific distribution rules applicable to REITs.
	Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and expected carry-forwards are available to reduce taxable income. The Company records a valuation allowance when, in the opinion of management, it is more likely than not, that the Company will not realize some or all deferred tax assets. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance equal to the deferred tax asset at December 31, 2013 and September 30, 2014. At December 31, 2013 the Company had federal and state net operating loss carry-forwards of approximately $675,000 and $673,000, respectively. The federal and state tax loss carry-forwards will begin to expire in 2032, unless previously utilized.
	Pursuant to Internal Revenue Code Section 382, use of the Company’s net operating loss carry-forwards may be limited if a cumulative change in ownership of more than 50% occurs within a three year period. Management believes that such an ownership change had occurred but has not performed a study of the limitations on the net operating losses.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 7. RELATED PARTY TRANSACTIONS
	The Company sub-leases office space on a month-to-month basis from Reven Capital, LLC which is wholly-owned by Chad M. Carpenter, a shareholder of the Company and the Company’s Chief Executive Officer, and reimburses Reven Capital, LLC for Company expenses paid and previously advanced by Reven Capital, LLC. The advances are due on demand, unsecured and are non-interest bearing. These advances were paid off in full during the year ended December 31, 2013. During the period ended September 30, 2013, the Company paid previous advances of $263,877.

STOCK_COMPENSATION

STOCK COMPENSATION	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 8. STOCK COMPENSATION
	On April 4, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 48,750 shares of the Company’s common stock under the 2012 Plan to the members of the Board of Directors as compensation for their services. These shares were valued at $4.00 per share, for a total expense of $195,000 which has been included in the Company’s Condensed Consolidated Statement of Operations for the  nine months ended  September 30, 2014.
	On October 16, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 425,000 shares of the Company’s common stock under the 2012 Plan to certain officers and consultants of the Company. The shares issued are subject to restrictions and future vesting conditions based on the Company reaching certain future milestones. None of the shares were vested as of the issuance date. Compensation expense will be recognized in the applicable future periods should the applicable milestones be achieved in accordance with the vesting schedule. At the time of filing there is no assurance that these milestones will in fact be achieved and that the shares will in fact vest in the future.

COMMITMENTS

COMMITMENTS	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 9. COMMITMENTS
	Property Management Agreement
	The Company has entered into property management agreements with unrelated property management companies in which the Company will pay management fees ranging from six to eight percent of gross rental receipts.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 10. SUBSEQUENT EVENTS
	On November 10, 2014, Reven Housing Tennessee, LLC, a wholly-owned subsidiary of the Company, completed the acquisition of 21 residential homes, pursuant to a purchase and sale agreement. The homes are located in the Memphis, Tennessee metropolitan area. The contract purchase price for the 21 homes was approximately $1,725,000, excluding closing costs, which was funded primarily from cash.

ORGANIZATION_OPERATIONS_AND_SU1

ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]
Restatement To Prior Year Income [Policy Text Block]	Restatement of Consolidated Financial Statements
	In connection with preparing the annual financial information for the year ending December 31, 2014, prior period errors were identified which affected the annual period ended December 31, 2013, and the quarterly period ending September 30, 2014. These errors occurred in the Company’s accounting for the acquisition of certain real property portfolios of single family homes included in investment in real estate and involve acquisition costs that were improperly capitalized, and the reallocation of acquisition values from building and improvements to lease origination costs. These errors require the Company to restate previously reported financial results contained in this report. The effects of these prior period errors in the consolidated financial statements for the period ended December 31, 2013 are disclosed in the Form 10K/A filing for that period. The changes to the condensed consolidated financial statements for the period ended September 30, 2014 are shown in the following table and include reclassification of expenses in order to enable the presentation to be consistent with the December 31, 2013 year end amended filing.
		September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Balance Sheet
	Buildings and improvements	$	22,008,235	$	22,693,455	$	-685,220
	Accumulated depreciation	$	-430,552	$	-432,802	$	2,250
	Investment in real estate, net	$	21,577,683	$	22,260,653	$	-682,970
	Lease origination costs, net	$	124,886	$	-	$	124,886
	Total Assets	$	30,174,200	$	30,732,284	$	-558,084
	Accumulated deficit	$	-2,980,310	$	-2,422,226	$	-558,084
	Total Stockholders' Equity	$	21,628,001	$	22,186,085	$	-558,084
	Total Liabilities and Stockholders' Equity	$	30,174,200	$	30,732,284	$	-558,084
		Three months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Operations
	Rental expenses	$	262,311	$	317,444	$	-55,133
	Legal and accounting	$	49,809	$	69,054	$	-19,245
	Real estate acquisition costs	$	256,764	$	-	$	256,764
	Depreciation and amortization	$	240,650	$	166,928	$	73,722
	Total operating expenses	$	1,138,680	$	882,572	$	256,108
	Net loss	$	-397,902	$	-141,794	$	-256,108
	Net loss per share	$	-0.06	$	-0.02	$	-0.04
		Nine months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Operations
	Rental expenses	$	682,700	$	737,833	$	-55,133
	General and administrative	$	988,790	$	1,005,648	$	-16,858
	Legal and accounting	$	219,661	$	260,406	$	-40,745
	Real estate acquisition costs	$	295,122	$	-	$	295,122
	Depreciation and amortization	$	443,650	$	369,928	$	73,722
	Total operating expenses	$	2,683,013	$	2,426,905	$	256,108
	Net loss	$	-966,255	$	-710,147	$	-256,108
	Net loss per share	$	-0.17	$	-0.13	$	-0.04
		Nine months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Cash Flows
	Net loss	$	-966,255	$	-710,147	$	-256,108
	Depreciation and amortization	$	443,650	$	369,928	$	73,722
	Net cash used for operating activities	$	-110,971	$	71,415	$	-182,386
	Acquisitions of investments in real estate	$	-9,808,865	$	-10,114,820	$	305,955
	Lease origination costs	$	-123,569	$	-	$	-123,569
	Net cash used for investing activities	$	-10,677,851	$	-10,860,237	$	182,386
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation
	The accompanying unaudited condensed consolidated interim financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, all adjustments (which include only normal recurring adjustments except as noted in management’s discussion and analysis of financial condition and results of operations) necessary to present fairly the financial position, results of operations and changes in cash flows have been made.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the 2013 Annual Report on Form 10-KA, filed April 17, 2015. The results of operations for the period ended September 30, 2014 are not necessarily indicative of the operating results for the full year.
	On November 5, 2014, the Company effected a 1-for-20 reverse stock split of the issued common stock. Each stockholder’s percentage ownership and proportional voting power generally remained unchanged as a result of the reverse stock split. All applicable share data, per share amounts and related information in the condensed consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the 1-for-20 reverse stock split. See Note 5.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation
	The accompanying financial statements consolidate the accounts of the Company and its wholly-owned subsidiaries, Reven Housing Georgia, LLC, Reven Housing Texas, LLC, Reven Housing Florida, LLC, and Reven Housing Tennessee, LLC. All significant inter-company transactions have been eliminated in consolidation.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2014-09 Revenue from Contracts with Customers, or ASU No. 2014-09, which will supersede nearly all existing revenue recognition guidance under GAAP. ASU No. 2014-09 provides that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update also 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, and assets recognized from costs incurred to obtain or fulfill a contract. ASU No. 2014-09 allows for either full retrospective or modified retrospective adoption and will become effective for the Company in the fourth quarter of 2017.
	The Company has adopted all recently issued accounting pronouncements. The adoption of the accounting pronouncements, including those not yet effective, is not anticipated to have a material effect on the financial position or results of operations of the Company.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.
Advances to Property Manager [Policy Text Block]	Rents and Other Receivables
	Rents and other receivables represent the amount of rent receivables, security deposits and net rental funds which are held by the property manager on behalf of the Company, net of any allowance for amounts deemed uncollectible.
Tax, Insurance reserves and holdback funds [Policy Text Block]	Tax and Insurance reserves
	Tax and insurance reserves represent amounts held in accordance with the terms of our loan for taxes and insurance.
Finance, Loans and Leases Receivable, Policy [Policy Text Block]	Loan Fees
	Loan closing costs and fees totaled $266,503 and will be amortized over the term of the loan which is 60 months. For the  three and nine months ended September 30, 2014, amortization expense for these loan fees was $13,326.
Deferred Stock Issuance Costs [Policy Text Block]	Deferred Stock Issuance Costs
	Deferred stock issuance costs represent amounts paid for consulting services and other offering expenses in conjunction with the future raising of additional capital to be performed within one year. These costs are charged against additional paid-in capital as a cost of the stock issuance upon closing of the respective stock placement.
Warrant Issuance and Note Conversion Feature [Policy Text Block]	Warrant Issuance and Note Conversion Feature
	The Company accounts for the proceeds from the issuance of convertible notes payable with detachable stock purchase warrants and embedded conversion features in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 470-20, Debt with Conversion and Other Options. Under FASB ASC 470-20, the proceeds from the issuance of a debt instrument with detachable stock purchase warrants shall be allocated to the two elements based on the relative fair values of the debt instrument without the warrants and of the warrants themselves at the time of issuance. The portion of the proceeds allocated to the warrants is accounted for as additional paid-in capital and the remaining proceeds are allocated to the debt instrument which resulted in a discount to debt which is amortized and charged as interest expense over the term of the note agreement. Additionally, pursuant to FASB ASC 470-20, the intrinsic value of the embedded conversion feature of the convertible notes payable is included in the discount to debt and amortized and charged to interest expense over the life of the note agreement.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition
	Property is leased under rental agreements of generally one year and revenue is recognized over the lease term on a straight-line basis.
Income Tax, Policy [Policy Text Block]	Income Taxes
	The Company intends to elect to be taxed as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code, upon meeting the necessary requirements. Management believes that the Company will be able to satisfy the requirements for qualification as a REIT. Accordingly, the Company is not expecting to be subject to federal income tax, provided that it qualifies as a REIT and distributions to the stockholders equal or exceed REIT taxable income.
	However, qualification and taxation as a REIT depends upon the Company’s ability to meet the various qualification tests imposed under the Internal Revenue Code related to the percentage of income that are earned from specified sources, the percentage of assets that fall within specified categories, the diversity of capital stock ownership, and the percentage of earnings that are distributed. Accordingly, no assurance can be given that the Company will be organized or be able to operate in a manner so as to qualify or remain qualified as a REIT. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal and state income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate tax rates, and the Company may be ineligible to qualify as a REIT for four subsequent tax years. Even if the Company qualifies as a REIT, it may be subject to certain state or local income taxes.
	The tax benefit of uncertain tax positions is recognized only if it is “more likely than not” that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full knowledge of relevant information. The measurement of a tax benefit for an uncertain tax position that meets the “more likely than not” threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority, having full knowledge of all the relevant information. As of December 31, 2013 and September 30, 2014, the Company had no unrecognized tax benefits. The Company does not anticipate a significant change in the total amount of unrecognized tax benefits during 2014.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Incentive Compensation Plan
	During 2012, the Company established the 2012 Incentive Compensation Plan, which was subsequently amended and restated in December 2013 (“2012 Plan”). The 2012 Plan allows for the grant of options and other awards representing up to 1,650,000 shares of the Company’s common stock. Such awards may be granted to officers, directors, employees, consultants and other persons who provide services to the Company or any related entity. Under the 2012 Plan, options may be granted at an exercise price greater than or equal to the market value at the date of the grant, for owners of 10% or more of the voting shares, at an exercise price of not less than 110% of the market value. Awards are exercisable over a period of time as determined by a committee designated by the Board of Directors, but in no event longer than ten years.
	On April 4, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 48,750 shares of the Company’s common stock under the 2012 Plan to the members of the Board of Directors as compensation for their services.
	On October 16, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 425,000 shares of the Company’s common stock under the 2012 Plan to certain officers and consultants of the Company. The shares issued are subject to restrictions and future vesting conditions based on the Company reaching certain future milestones. None of the shares were vested as of the issuance date.
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Share
	Net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share. For the nine months ended September 30, 2013, and 2014, potentially dilutive securities excluded from the calculations were 263,588 shares issuable upon exercise of outstanding warrants granted in conjunction with the convertible notes.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments
	The carrying value of the Company’s financial instruments, as reported in the accompanying condensed consolidated balance sheets, approximates fair value.
Security Deposits [Policy Text Block]	Security Deposits
	Security deposits represent amounts deposited by tenants at the inception of the lease.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
	The preparation of the condensed consolidated financial statements in conformity with 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 balance sheet dates and reported amounts of expenses for the periods presented. Accordingly, actual results could differ from those estimates. Significant estimates include assumptions used to determine the allocation of purchase prices of property acquisitions.
Real Estate, Policy [Policy Text Block]	Investments in Real Estate
	The Company accounts for its investments in real estate as business combinations under the guidance of FASB ASC Topic 805, Business Combinations (“ASC 805”) and these acquisitions are recorded at fair value, allocated to land, building and the existing leases based upon their fair values at the date of acquisition, with acquisition costs expensed as incurred. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes its own market knowledge and published market data. The estimated fair value of acquired in-place leases represents the expected costs the Company would have incurred to lease the property at the date of acquisition. Each portfolio of acquired property is recorded as a separate business combination.
	Land, buildings and improvements are recorded at cost. Buildings and improvements are depreciated over estimated useful lives of approximately 27.5 years using the straight-line method. Lease origination costs are amortized over the average remaining term of the in-place leases which is generally less than one year. Maintenance and repair costs are charged to expenses as incurred.
	The Company assesses the impairment of investments in real estate, whenever events or changes in business circumstances indicate that carrying amounts of the assets may not be fully recoverable. When such events occur, management determines whether there has been impairment by comparing the asset’s carrying value with its fair value. Should impairment exist, the asset is written down to its estimated fair value. The Company has not recognized any impairment losses through September 30, 2014.
Reclassification, Policy [Policy Text Block]	Reclassifications
	Certain amounts for 2013 have been reclassified to conform to the current period’s presentation.

ORGANIZATION_OPERATIONS_AND_SU2

ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2014
Organization And Operation [Abstract]
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	The changes to the condensed consolidated financial statements for the period ended September 30, 2014 are shown in the following table and include reclassification of expenses in order to enable the presentation to be consistent with the December 31, 2013 year end amended filing.
		September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Balance Sheet
	Buildings and improvements	$	22,008,235	$	22,693,455	$	-685,220
	Accumulated depreciation	$	-430,552	$	-432,802	$	2,250
	Investment in real estate, net	$	21,577,683	$	22,260,653	$	-682,970
	Lease origination costs, net	$	124,886	$	-	$	124,886
	Total Assets	$	30,174,200	$	30,732,284	$	-558,084
	Accumulated deficit	$	-2,980,310	$	-2,422,226	$	-558,084
	Total Stockholders' Equity	$	21,628,001	$	22,186,085	$	-558,084
	Total Liabilities and Stockholders' Equity	$	30,174,200	$	30,732,284	$	-558,084
		Three months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Operations
	Rental expenses	$	262,311	$	317,444	$	-55,133
	Legal and accounting	$	49,809	$	69,054	$	-19,245
	Real estate acquisition costs	$	256,764	$	-	$	256,764
	Depreciation and amortization	$	240,650	$	166,928	$	73,722
	Total operating expenses	$	1,138,680	$	882,572	$	256,108
	Net loss	$	-397,902	$	-141,794	$	-256,108
	Net loss per share	$	-0.06	$	-0.02	$	-0.04
		Nine months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Operations
	Rental expenses	$	682,700	$	737,833	$	-55,133
	General and administrative	$	988,790	$	1,005,648	$	-16,858
	Legal and accounting	$	219,661	$	260,406	$	-40,745
	Real estate acquisition costs	$	295,122	$	-	$	295,122
	Depreciation and amortization	$	443,650	$	369,928	$	73,722
	Total operating expenses	$	2,683,013	$	2,426,905	$	256,108
	Net loss	$	-966,255	$	-710,147	$	-256,108
	Net loss per share	$	-0.17	$	-0.13	$	-0.04
		Nine months ended September 30, 2014
		As		As previously
		Restated		Reported		Adjustment
	Consolidated Statement of Cash Flows
	Net loss	$	-966,255	$	-710,147	$	-256,108
	Depreciation and amortization	$	443,650	$	369,928	$	73,722
	Net cash used for operating activities	$	-110,971	$	71,415	$	-182,386
	Acquisitions of investments in real estate	$	-9,808,865	$	-10,114,820	$	305,955
	Lease origination costs	$	-123,569	$	-	$	-123,569
	Net cash used for investing activities	$	-10,677,851	$	-10,860,237	$	182,386

RESIDENTIAL_HOMES_Tables

RESIDENTIAL HOMES (Tables)	9 Months Ended
	Sep. 30, 2014
Residential Homes [Abstract]
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	The following table represents the Company’s investment in the homes and allocates purchase price in accordance with ASC 805:
		Number				Residential		Total
		of Homes		Land		Homes		Investment
	Total at December 31, 2013		159	$	2,514,009	$	9,685,361	$	12,199,370
	Purchases and improvements during 2014:
	Houston, TX		18		319,500		1,236,765		1,556,265
	Jacksonville, FL		47		479,700		2,745,578		3,225,278
	Memphis, TN		69		777,700		4,229,978		5,007,678
	Atlanta, GA improvements		-		-		19,644		19,644
	Total at September 30, 2014		293	$	4,090,909	$	17,917,326	$	22,008,235

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2014
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	At December 31, 2013 and September 30, 2014, accounts payable and accrued expenses consisted of the following:
		2013		2014
	Accounts payable	$	89,666	$	74,926
	Accrued property taxes		196,141		197,606
	Accrued legal, board fees and other expenses		61,372		422,987
	Accrued interest		-		26,810
		$	347,179	$	722,329

ORGANIZATION_OPERATIONS_AND_SU3

ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Consolidated Balance Sheet
Buildings and improvements	$22,008,235		$22,008,235		$12,199,370
Accumulated depreciation	-430,552		-430,552		-73,950
Investment in real estate, net	21,577,683		21,577,683		12,125,420
Lease origination costs, net	124,886		124,886		75,038
Total Assets	30,174,200		30,174,200		14,531,149
Accumulated deficit	-2,980,310		-2,980,310		-2,014,056
Total Stockholders' Equity	21,628,001		21,628,001		14,026,985
Total Liabilities and Stockholders' Equity	30,174,200		30,174,200		14,531,149
Consolidated Statement of Operations
Rental expenses	262,311	11,978	682,700	25,718
General and administrative	278,543	17,060	988,790	121,599
Legal and accounting	49,809	21,536	219,661	114,411
Real estate acquisition costs	256,764	0	295,122	0
Depreciation and amortization	240,650	4,200	443,650	12,600
Total operating expenses	1,138,680	361,480	2,683,013	914,963
Net loss	-397,902	-347,287	-966,255	-859,146
Net loss per share	($0.06)	($0.64)	($0.17)	($1.86)
Consolidated Statement of Cash Flows
Net loss	-397,902	-347,287	-966,255	-859,146
Depreciation and amortization			443,650	12,600
Net cash used for operating activities			-110,971	-630,502
Acquisitions of investments in real estate			-9,808,865
Lease origination costs			-123,569	0
Net cash used for investing activities			-10,677,851	-263,428
Adjustment [Member]
Consolidated Balance Sheet
Buildings and improvements	-685,220		-685,220
Accumulated depreciation	2,250		2,250
Investment in real estate, net	-682,970		-682,970
Lease origination costs, net	124,886		124,886
Total Assets	-558,084		-558,084
Accumulated deficit	-558,084		-558,084
Total Stockholders' Equity	-558,084		-558,084
Total Liabilities and Stockholders' Equity	-558,084		-558,084
Consolidated Statement of Operations
Rental expenses	-55,133		-55,133
General and administrative			-16,858
Legal and accounting	-19,245		-40,745
Real estate acquisition costs	256,764		295,122
Depreciation and amortization	73,722		73,722
Total operating expenses	256,108		256,108
Net loss	-256,108		-256,108
Net loss per share	($0.04)		($0.04)
Consolidated Statement of Cash Flows
Net loss	-256,108		-256,108
Depreciation and amortization			73,722
Net cash used for operating activities			-182,386
Acquisitions of investments in real estate			305,955
Lease origination costs			-123,569
Net cash used for investing activities			182,386
Scenario, Previously Reported [Member]
Consolidated Balance Sheet
Buildings and improvements	22,693,455		22,693,455
Accumulated depreciation	-432,802		-432,802
Investment in real estate, net	22,260,653		22,260,653
Lease origination costs, net	0		0
Total Assets	30,732,284		30,732,284
Accumulated deficit	-2,422,226		-2,422,226
Total Stockholders' Equity	22,186,085		22,186,085
Total Liabilities and Stockholders' Equity	30,732,284		30,732,284
Consolidated Statement of Operations
Rental expenses	317,444		737,833
General and administrative			1,005,648
Legal and accounting	69,054		260,406
Real estate acquisition costs	0		0
Depreciation and amortization	166,928		369,928
Total operating expenses	882,572		2,426,905
Net loss	-141,794		-710,147
Net loss per share	($0.02)		($0.13)
Consolidated Statement of Cash Flows
Net loss	-141,794		-710,147
Depreciation and amortization			369,928
Net cash used for operating activities			71,415
Acquisitions of investments in real estate			-10,114,820
Lease origination costs			0
Net cash used for investing activities			($10,860,237)

ORGANIZATION_OPERATIONS_AND_SU4

ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	3 Months Ended	9 Months Ended		0 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013	Oct. 16, 2014	Apr. 04, 2014
Accounting Policies [Line Items]
Entity Incorporation, State Country Name		Colorado
Payments of Loan Costs		$266,503	$0
Amortization of Financing Costs	$13,326	$13,326
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,650,000	1,650,000
Share-based Compensation Arrangement by Share-based Payment Award, Description		Under the 2012 Plan, options may be granted at an exercise price greater than or equal to the market value at the date of the grant, for owners of 10% or more of the voting shares, at an exercise price of not less than 110% of the market value.
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		263,588	263,588
Property, Plant and Equipment, Useful Life		27 years 6 months
Common Stock [Member]
Accounting Policies [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					48,750
Incentive Compensation Plan 2012 [Member] | Subsequent Event [Member]
Accounting Policies [Line Items]
Stock Issued During Period, Shares, Issued for Services				425,000

RESIDENTIAL_HOMES_Details

RESIDENTIAL HOMES (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
	Number	Number
Real Estate Properties [Line Items]
Number of Homes	293	159
Real Estate Investment Property, at Cost	$22,008,235	$12,199,370
Total Investment	22,008,235	12,199,370
Houston, TX [Member]
Real Estate Properties [Line Items]
Number of Homes	18
Total Investment	1,556,265
Jacksonville, FL [Member]
Real Estate Properties [Line Items]
Number of Homes	47
Total Investment	3,225,278
Memphis, TN [Member]
Real Estate Properties [Line Items]
Number of Homes	69
Total Investment	5,007,678
Atlanta, GA improvements [Member]
Real Estate Properties [Line Items]
Number of Homes	0
Total Investment	19,644
Land [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	4,090,909	2,514,009
Land [Member] | Houston, TX [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	319,500
Land [Member] | Jacksonville, FL [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	479,700
Land [Member] | Memphis, TN [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	777,700
Land [Member] | Atlanta, GA improvements [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	0
Residential Real Estate [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	17,917,326	9,685,361
Residential Real Estate [Member] | Houston, TX [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	1,236,765
Residential Real Estate [Member] | Jacksonville, FL [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	2,745,578
Residential Real Estate [Member] | Memphis, TN [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	4,229,978
Residential Real Estate [Member] | Atlanta, GA improvements [Member]
Real Estate Properties [Line Items]
Real Estate Investment Property, at Cost	$19,644

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Accounts Payable And Accrued Expenses [Line Items]
Accounts payable	$74,926	$89,666
Accrued property taxes	197,606	196,141
Accrued legal, board fees and other expenses	422,987	61,372
Accrued interest	26,810	0
Accounts payable and accrued expenses	$722,329	$347,179

NOTE_PAYABLE_Details_Textual

NOTE PAYABLE (Details Textual) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Jun. 12, 2014
Notes Payable [Line Items]
Payments of Loan Costs	$266,503	$0
Escrow Deposit	169,740		0
Reven Housing Texas, LLC [Member] | Silvergate Bank [Member]
Notes Payable [Line Items]
Debt Instrument, Annual Principal Payment				$7,570,000
Debt Instrument, Maturity Date	5-Jul-19
Debt Instrument, Interest Rate Terms	The note provides for monthly payments of interest only at a rate of 1.00% over the prime rate (current interest rate is 4.25%) until July 5, 2016.
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Debt Instrument, Convertible, Remaining Discount Amortization Period	25 years
Debt Instrument Prepayment Penalty Percentage	3.00%
Debt Instrument Prepayment Maturity Date	5-Jul-16
Debt Instrument, Interest Rate, Effective Percentage	4.25%

STOCKHOLDERS_EQUITY_Details_Te

STOCKHOLDERS' EQUITY (Details Textual) (USD $)	1 Months Ended
	Nov. 05, 2014	16-May-14	Apr. 04, 2014	Sep. 30, 2014	Dec. 31, 2013
STOCKHOLDERS' EQUITY [Line Items]
Common Stock, Shares Authorized				100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share				$0.00	$0.00
Subsequent Event [Member]
STOCKHOLDERS' EQUITY [Line Items]
Common Stock, Shares Authorized	100,000,000
Common Stock, Par or Stated Value Per Share	$0.00
Stockholders' Equity, Reverse Stock Split	the Company effected a 1-for-20 reverse stock split of issued common stock. In conjunction with the reverse stock split, the Board of Directors approved a change in the number of authorized common shares from 600,000,000 to 100,000,000, which change was effected immediately after the effectiveness of the reverse stock split. Additionally, the par value of the shares was modified from $.02 to $.001 per share
Private Placement [Member]
STOCKHOLDERS' EQUITY [Line Items]
Proceeds from Issuance of Private Placement		$5,900,000	$2,700,000
Stock Issued During Period, Shares, New Issues		1,475,000	675,000
Share Price		$4	$4
Other Ownership Interests, Offering Costs		227,730
Net proceeds		$8,372,270

INCOME_TAXES_Details_Textual

INCOME TAXES (Details Textual) (USD $)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic		$675,000
Federal Tax Loss Carry Forwards Expiration	2032
Deferred Tax Assets, Operating Loss Carryforwards, State and Local		$673,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details Textual) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Related Party Transaction [Line Items]
Increase (Decrease) In Accounts Payable, Related Parties	$0	$263,877

STOCK_COMPENSATION_Details_Tex

STOCK COMPENSATION (Details Textual) (USD $)	9 Months Ended		1 Months Ended	0 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Apr. 04, 2014	Oct. 16, 2014	Dec. 31, 2013	Nov. 05, 2014
Share-based Compensation, Total	$195,000	$0
Common Stock, Par or Stated Value Per Share	$0.00				$0.00
Subsequent Event [Member]
Common Stock, Par or Stated Value Per Share						$0.00
Incenteve Compensation Plan 2012 [Member]
Stock Issued During Period, Shares, Issued for Services			48,750
Share-based Compensation, Total	$195,000
Common Stock, Par or Stated Value Per Share			$4
Incenteve Compensation Plan 2012 [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, Issued for Services				425,000

COMMITMENTS_Details_Textual

COMMITMENTS (Details Textual)	9 Months Ended
	Sep. 30, 2014
Minimum [Member]
Property Management Fee, Percent Fee	6.00%
Maximum [Member]
Property Management Fee, Percent Fee	8.00%

SUBSEQUENT_EVENTS_Details_Text

SUBSEQUENT EVENTS (Details Textual) (Reven Housing Tennessee, LLC [Member], Subsequent Event [Member], 21 Residential Homes, USD $)	Nov. 10, 2014
Reven Housing Tennessee, LLC [Member] | Subsequent Event [Member] | 21 Residential Homes
Subsequent Event [Line Items]
Business Acquisition Cost of Acquired Entity Purchase Prices	$1,725,000