Reven Housing REIT (RVEN) 10-Q 12 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document Information [Line Items]
Entity Registrant Name	Reven Housing REIT, Inc.
Entity Central Index Key	1,487,782
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	RVEN
Entity Common Stock, Shares Outstanding		7,016,796
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Investments in real estate:
Land	$ 6,208,327	$ 5,422,647
Buildings and improvements	28,391,874	23,961,608
Investments in real estate,Gross	34,600,201	29,384,255
Accumulated depreciation	(1,081,424)	(592,114)
Investments in real estate, net	33,518,777	28,792,141
Cash	1,421,512	3,343,236
Rents and other receivables	205,296	157,230
Property tax and insurance reserves	0	260,123
Escrow deposits and prepaid expenses	204,528	221,264
Lease origination costs, net	186,004	168,145
Deferred loan fees, net	427,606	333,544
Deferred stock issuance costs	488,509	535,450
Total Assets	36,452,232	33,811,133
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities	949,425	718,162
Security deposits	370,960	306,004
Notes payable	15,049,125	11,522,140
Total Liabilities	$ 16,369,510	$ 12,546,306
Commitments and contingencies (Note 10)
Stockholders' Equity
Preferred stock, $.001 par value; 25,000,000 shares authorized; No shares issued or outstanding	$ 0	$ 0
Common stock, $.001 par value; 100,000,000 shares authorized; 7,016,796 shares issued and outstanding	7,017	7,017
Additional paid-in capital	24,601,295	24,601,295
Accumulated deficit	(4,525,590)	(3,343,485)
Total Stockholders' Equity	20,082,722	21,264,827
Total Liabilities and Stockholders' Equity	$ 36,452,232	$ 33,811,133

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
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)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	7,016,796	7,016,796
Common stock, shares outstanding	7,016,796	7,016,796

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - Scenario, Unspecified [Domain] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Rental income	$ 1,267,986	$ 495,386	$ 2,382,773	$ 975,980
Expenses:
Property operating and maintenance	494,890	170,919	778,466	294,672
Real estate taxes	189,216	65,335	351,717	125,716
Acquisition costs	79,021	0	325,106	0
Depreciation and amortization expense	286,355	103,500	553,244	203,000
General and administration	478,126	285,411	960,409	726,260
Legal and accounting	112,042	69,075	267,361	191,352
Interest expense	188,026	3,332	328,575	3,332
Total expenses	1,827,676	697,572	3,564,878	1,544,332
Net loss	$ (559,690)	$ (202,186)	$ (1,182,105)	$ (568,352)
Net loss per share
(Basic and fully diluted) (in dollars per share)	$ (0.08)	$ (0.03)	$ (0.17)	$ (0.11)
Weighted average number of common shares outstanding (in shares)	7,016,796	5,821,794	7,016,796	5,111,366

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - Scenario, Unspecified [Domain] - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operating Activities:
Net loss	$ (1,182,105)	$ (568,352)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	553,244	203,000
Stock compensation	0	195,000
Amortization of deferred loan fees	43,110	0
Changes in operating assets and liabilities:
Rents and other receivables	(48,066)	(23,140)
Property tax and insurance reserves	260,123	(354,405)
Escrow deposits and prepaid expenses	16,736	29,834
Accounts payable and accrued liabilities	278,204	119,254
Security deposits	64,956	19,729
Net cash used in operating activities	(13,798)	(379,080)
Cash Flows From Investing Activities:
Acquisitions of and additions to investments in real estate	(5,215,946)	(1,584,343)
Lease origination costs	(81,793)	0
Net cash used in investing activities	(5,297,739)	(1,584,343)
Cash Flows From Financing Activities:
Proceeds from notes payable	3,526,985	1,227,100
Payment of loan fees	(137,172)	(266,503)
Proceeds from common stock issuance	0	8,372,270
Payments of stock issuance costs	0	(290,344)
Net cash provided by financing activities	3,389,813	9,042,523
Net (Decrease) Increase In Cash	(1,921,724)	7,079,100
Cash at the Beginning of the Period	3,343,236	2,134,510
Cash at the End of the Period	1,421,512	9,213,610
Supplemental Disclosure:
Cash paid for interest	$ 272,965	$ 3,332

ORGANIZATION AND OPERATION

ORGANIZATION AND OPERATION	6 Months Ended
	Jun. 30, 2015
Organization And Operation [Abstract]
Nature of Operations [Text Block]	NOTE 1. ORGANIZATION AND OPERATION Reven Housing REIT, Inc. is a Maryland corporation (Reven Housing REIT, Inc., along with its subsidiaries, are also referred to herein collectively as the “Company”) which 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. As of June 30, 2015, the Company owned 473 single family homes in the Houston, Jacksonville, Memphis and Atlanta metropolitan areas.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated interim financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”), as contained within the Financial Accounting Standards Board (“FASB”), Accounting Standard Codification (“ASC”), and Article 8 of Regulation S-X of the Securities Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with 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 2014 Annual Report on Form 10-K filed with the SEC on March 31, 2015. In the opinion of management, the condensed financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results of such period. The results of operations for the period ended June 30, 2015 are not necessarily indicative of the operating results for the full year. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Reven Housing REIT OP, L.P., Reven Housing GP, LLC, Reven Housing REIT TRS, LLC, Reven Housing Georgia, LLC, Reven Housing Texas, LLC, Reven Housing Florida, LLC, Reven Housing Florida 2, LLC, and Reven Housing Tennessee, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. 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 revenues and expenses for the periods presented. Accordingly, actual results could differ from those estimates. The carrying value of the Company’s financial instruments, as reported in the accompanying condensed consolidated balance sheets, approximates fair value due to their short term nature. The Company’s short term financial instruments consist of cash, rents and other receivables, property tax and insurance reserves, escrow deposits, accounts payable and accrued liabilities, and security deposits. The carrying value of the Company’s notes payable, as reported in the accompanying condensed consolidated balance sheets, approximates fair value due to their floating market interest rate and due to the fact that their security and payment terms are similar to other debt instruments currently being issued. Certain prior period amounts have been reclassified to conform to the current period’s presentation. The Company accounts for its investments in real estate as business combinations under the guidance of ASC Topic 805, Business Combinations Land, buildings and improvements are recorded at cost. Buildings and improvements are depreciated over estimated useful lives of approximately 27.5 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 for the periods ended June 30, 2015 and 2014. The Company maintains its cash, cash equivalents and escrow deposits at financial institutions. The combined account balances at one or more institutions typically exceed the Federal Depository Insurance Corporation ("FDIC") insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company believes that the risk is not significant, as the Company does not anticipate the financial institutions’ non-performance. As of June 30, 2015 and December 31, 2014, the Company did not have any cash equivalents. Rents and other receivables represent the amount of rent receivables, security deposits and net rental funds which are held by the property managers on behalf of the Company, net of any allowance for amounts deemed uncollectible. The Company has not recognized any allowance for doubtful accounts as of June 30, 2015 and December 31, 2014. Property tax and insurance reserves represent amounts held in accordance with the terms of the Company’s notes payable for property taxes and insurance. During the first quarter of 2015, the lender waived this requirement and the amounts previously held in escrow have been released to the Company. Escrow deposits include refundable and non-refundable cash and earnest money on deposit with third parties for property purchases. Costs incurred in the placement of the Company’s debt are deferred and amortized using the effective interest method over the term of the loans as a component of interest expense on the consolidated statements of operations. Deferred loan costs and fees totaled $ 499,768 72,162 June 30, 2015 24,984 43,110 Deferred stock issuance costs represent amounts paid for legal, consulting, and other offering expenses in conjunction with the future raising of additional capital to be performed within one year. These costs are netted against additional paid-in capital as a cost of the stock issuance upon closing of the respective stock placement. Security deposits represent amounts deposited by tenants at the inception of the lease. The Company’s single family homes are leased under short term rental agreements of generally one year with individual tenants and revenue is recognized over the lease term on a straight-line basis. The Company is currently being taxed as a “C” corporation, but intends to elect to be taxed as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code, commencing with the taxable year ended December 31, 2015. Management believes that the Company will be able to satisfy the requirements for qualification as a REIT. Accordingly, the Company does not expect 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 June 30, 2015 and December 31, 2014, the Company had no unrecognized tax benefits. 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 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, and for owners of 10% or more of the voting shares, at an exercise price of not less than 110% of the market value. On April 4, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 48,750 On October 16, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 425,000 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 three and six months ended June 30, 2015, and 2014, potentially dilutive securities excluded from the calculations were 263,588 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 noted thereto have been adjusted retroactively to give effect to the 1-for-20 reverse stock split. The Company is currently evaluating 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. Subsequent events are events or transactions that occur after the balance sheet date but before the condensed consolidated financial statements are available to be issued. The Company recognizes in the condensed consolidated financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the balance sheet date, including the estimates inherent in the process of preparing the condensed consolidated financial statements. The Company’s financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the balance sheet date but arose after such date and before the condensed consolidated financial statements are available to be issued. The Company has evaluated subsequent events up until the date of the issuance of these financial statements.

INVESTMENTS IN REAL ESTATE

INVESTMENTS IN REAL ESTATE	6 Months Ended
	Jun. 30, 2015
Residential Homes [Abstract]
Residential Homes [Text Block]	The Company’s investments in real estate consists of single family homes purchased by the Company. The homes are generally leased to individual tenants under operating leases of one year or less. Total Number Buildings and Investments of Homes Land Improvements in Real Estate Total at December 31, 2014 395 $ 5,422,647 $ 23,961,608 $ 29,384,255 Purchases and improvements during 2015: Jacksonville, FL 78 785,680 4,408,460 5,194,140 Memphis, TN - 16,630 16,630 Houston, TX - 5,176 5,176 Total at June 30, 2015 473 $ 6,208,327 $ 28,391,874 $ 34,600,201 For the six months ended June 30, 2015, the Company included $ 305,100 137,300 31,200 136,600 The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company for the six months ended June 30, 2015 and 2014 prepared to give effect if all of the Company’s acquisitions of properties in 2014 and 2015 occurred on January 1, 2014. For the Six Months Ended June 30 2015 2014 Rental revenue $ 2,512,773 $ 2,416,908 Rental expenses $ 1,195,183 $ 1,079,520 Depreciation and amortization $ 606,244 $ 602,221 Net loss $ (886,499) $ (420,627) Net loss per share, basic and fully diluted $ (0.13) $ (0.08) Weighted average number of common shares outstanding, basic and fully diluted 7,016,796 5,111,366 The unaudited pro forma information for the six months ended June 30, 2015 and 2014 has been adjusted to exclude acquisition fees and expenses related to the acquisitions recorded in the appropriate periods and additionally to include the additional interest expense relating to the Company’s 2014 and 2015 borrowings.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 2015 2014 Accounts payable $ 293,923 $ 12,673 Property taxes payable 365,939 292,290 Accrued legal, board fees and other expenses 236,253 372,389 Interest payable 53,310 40,810 $ 949,425 $ 718,162

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 5. NOTES PAYABLE On June 12, 2014, Reven Housing Texas, LLC, a wholly owned subsidiary of the Company, received loan proceeds and issued a promissory note in the principal amount of up to $ 7,570,000 July 5, 2019 The note provides for monthly interest only payments at a rate of 1.00% over the prime rate (interest rate is 4.25% per annum at June 30, 2015) until July 5, 2016. 25 3 July 5, 2016 On November 17, 2014, Reven Housing Tennessee, LLC, a wholly owned subsidiary of the Company, received loan proceeds and issued a promissory note in the principal amount of $ 3,952,140 December 5, 2019 The note provides for monthly interest only payments at a rate of 1.00% over the prime rate (interest rate is 4.25% per annum at June 30, 2015) until December 5, 2016. 25 3 December 5, 2016 On March 13, 2015, Reven Housing Florida, LLC, a wholly owned subsidiary of the Company, received loan proceeds and issued a promissory note in the principal amount of $ 3,526,985 April 5, 2020 The note provides for monthly interest only payments at a rate of 1.00% over the prime rate (interest rate is 4.25% per annum at June 30, 2015) until April 5, 2017. 25 3 April 5, 2017 The terms of the notes also provide for lender reserve accounts for taxes and insurance reserves. As of December 31, 2014, a total of $ 260,123 During the three and six months ended June 30, 2015, the Company incurred $ 188,026 328,575 24,984 43,110 3,332

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders Equity Note Disclosure [Text Block]	NOTE 6. STOCKHOLDERS’ EQUITY 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 made 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. The Company currently has warrants outstanding allowing its holders to purchase up to 263,588 4.00 September 27, 2018

STOCK COMPENSATION

STOCK COMPENSATION	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 7. STOCK COMPENSATION On April 4, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 48,750 4.00 195,000 On October 16, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 425,000

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 8. INCOME TAXES 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 June 30, 2015 and December 31, 2014. At December 31, 2014, the Company had federal and state net operating loss carry-forwards of approximately $ 1,380,000 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. The Company plans to elect REIT status effective for the year ending December 31, 2015, 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. The Company has also incurred current period and prior year net operating losses; thus, it does not expect to incur current income tax expenses. Additionally, due to the Company’s expectations of electing REIT status commencing in 2015, it does not expect to realize any future tax benefits from the current years, or prior years’ operating losses.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 9. 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. Rental payments totaled $9,000 and $18,000 for the three and six months ended June 30, 2015, respectively. Rental payments totaled $ 9,000 16,500

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 10. COMMITMENTS AND CONTINGENCIES Legal and Regulatory The Company is subject to potential liability under laws and government regulations and various claims and legal actions arising in the ordinary course of the Company’s business. Liabilities are established for legal claims when payments associated with the claims become probable and the costs can be reasonably estimated. The actual costs of resolving legal claims may be substantially higher or lower than the amounts established for those claims. Based on information currently available, management is not aware of any legal or regulatory claims that would have a material effect on the Company’s condensed consolidated financial statements and, therefore, no accrual has been recorded as of the six months ended June 30, 2015 and 2014. Security Deposits As of June 30, 2015 and December 31, 2014, the Company had $ 370,960 306,004 Escrow Deposits and Prepaid Expenses Escrow deposits and prepaid expenses include earnest deposits for the purchase of properties. As of June 30, 2015, the Company had entered into agreements to purchase 240 residential properties for an aggregate amount of approximately $ 18,118,000 181,176 8,700,000 87,000

BASIS OF PRESENTATION AND SIG16

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”), as contained within the Financial Accounting Standards Board (“FASB”), Accounting Standard Codification (“ASC”), and Article 8 of Regulation S-X of the Securities Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with 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 2014 Annual Report on Form 10-K filed with the SEC on March 31, 2015. In the opinion of management, the condensed financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results of such period. The results of operations for the period ended June 30, 2015 are not necessarily indicative of the operating results for the full year.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Reven Housing REIT OP, L.P., Reven Housing GP, LLC, Reven Housing REIT TRS, LLC, Reven Housing Georgia, LLC, Reven Housing Texas, LLC, Reven Housing Florida, LLC, Reven Housing Florida 2, LLC, and Reven Housing Tennessee, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation.
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 revenues and expenses for the periods presented. Accordingly, actual results could differ from those estimates.
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 due to their short term nature. The Company’s short term financial instruments consist of cash, rents and other receivables, property tax and insurance reserves, escrow deposits, accounts payable and accrued liabilities, and security deposits. The carrying value of the Company’s notes payable, as reported in the accompanying condensed consolidated balance sheets, approximates fair value due to their floating market interest rate and due to the fact that their security and payment terms are similar to other debt instruments currently being issued.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain prior period amounts have been reclassified to conform to the current period’s presentation.
Property Acquisitions [Policy Text Block]	Investments in Real Estate The Company accounts for its investments in real estate as business combinations under the guidance of ASC Topic 805, Business Combinations Land, buildings and improvements are recorded at cost. Buildings and improvements are depreciated over estimated useful lives of approximately 27.5 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 for the periods ended June 30, 2015 and 2014.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash The Company maintains its cash, cash equivalents and escrow deposits at financial institutions. The combined account balances at one or more institutions typically exceed the Federal Depository Insurance Corporation ("FDIC") insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company believes that the risk is not significant, as the Company does not anticipate the financial institutions’ non-performance. As of June 30, 2015 and December 31, 2014, the Company did not have any 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 managers on behalf of the Company, net of any allowance for amounts deemed uncollectible. The Company has not recognized any allowance for doubtful accounts as of June 30, 2015 and December 31, 2014.
Tax Insurance Reserve And Holdback Funds [Policy Text Block]	Property Tax and Insurance Reserves Property tax and insurance reserves represent amounts held in accordance with the terms of the Company’s notes payable for property taxes and insurance. During the first quarter of 2015, the lender waived this requirement and the amounts previously held in escrow have been released to the Company.
Escrow Deposits And Prepaid Expense [Policy Text Block]	Escrow Deposits and Prepaid Expenses Escrow deposits include refundable and non-refundable cash and earnest money on deposit with third parties for property purchases.
Deferred Loan Fees, Policy [Policy Text Block]	Deferred Loan Fees Costs incurred in the placement of the Company’s debt are deferred and amortized using the effective interest method over the term of the loans as a component of interest expense on the consolidated statements of operations. Deferred loan costs and fees totaled $ 499,768 72,162 June 30, 2015 24,984 43,110
Deferred Stock Issuance Costs [Policy Text Block]	Deferred Stock Issuance Costs Deferred stock issuance costs represent amounts paid for legal, consulting, and other offering expenses in conjunction with the future raising of additional capital to be performed within one year. These costs are netted against additional paid-in capital as a cost of the stock issuance upon closing of the respective stock placement.
Security Deposits [Policy Text Block]	Security Deposits Security deposits represent amounts deposited by tenants at the inception of the lease.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company’s single family homes are leased under short term rental agreements of generally one year with individual tenants and revenue is recognized over the lease term on a straight-line basis.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company is currently being taxed as a “C” corporation, but intends to elect to be taxed as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code, commencing with the taxable year ended December 31, 2015. Management believes that the Company will be able to satisfy the requirements for qualification as a REIT. Accordingly, the Company does not expect 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 June 30, 2015 and December 31, 2014, the Company had no unrecognized tax benefits.
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 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, and for owners of 10% or more of the voting shares, at an exercise price of not less than 110% of the market value. On April 4, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 48,750 On October 16, 2014, the Board of Directors authorized the issuance of, and the Company issued, an aggregate of 425,000
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 three and six months ended June 30, 2015, and 2014, potentially dilutive securities excluded from the calculations were 263,588 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 noted thereto have been adjusted retroactively to give effect to the 1-for-20 reverse stock split.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements The Company is currently evaluating 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.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Subsequent events are events or transactions that occur after the balance sheet date but before the condensed consolidated financial statements are available to be issued. The Company recognizes in the condensed consolidated financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the balance sheet date, including the estimates inherent in the process of preparing the condensed consolidated financial statements. The Company’s financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the balance sheet date but arose after such date and before the condensed consolidated financial statements are available to be issued. The Company has evaluated subsequent events up until the date of the issuance of these financial statements.

INVESTMENTS IN REAL ESTATE (Tab

INVESTMENTS IN REAL ESTATE (Tables)	6 Months Ended
	Jun. 30, 2015
Residential Homes [Abstract]
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	The following table summarizes the Company’s investments in real estate: Total Number Buildings and Investments of Homes Land Improvements in Real Estate Total at December 31, 2014 395 $ 5,422,647 $ 23,961,608 $ 29,384,255 Purchases and improvements during 2015: Jacksonville, FL 78 785,680 4,408,460 5,194,140 Memphis, TN - 16,630 16,630 Houston, TX - 5,176 5,176 Total at June 30, 2015 473 $ 6,208,327 $ 28,391,874 $ 34,600,201
Schedule Of Proforma Statement Of Operations Related To Real Estate Investment [Table Text Block]	This pro forma information does not purport to represent what the actual results of operations of the Company would have been had these acquisitions occurred on this date, nor does it purport to predict the results of operations for future periods. For the Six Months Ended June 30 2015 2014 Rental revenue $ 2,512,773 $ 2,416,908 Rental expenses $ 1,195,183 $ 1,079,520 Depreciation and amortization $ 606,244 $ 602,221 Net loss $ (886,499) $ (420,627) Net loss per share, basic and fully diluted $ (0.13) $ (0.08) Weighted average number of common shares outstanding, basic and fully diluted 7,016,796 5,111,366

ACCOUNTS PAYABLE AND ACCRUED 18

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	At June 30, 2015 and December 31, 2014, accounts payable and accrued liabilities consisted of the following: 2015 2014 Accounts payable $ 293,923 $ 12,673 Property taxes payable 365,939 292,290 Accrued legal, board fees and other expenses 236,253 372,389 Interest payable 53,310 40,810 $ 949,425 $ 718,162

BASIS OF PRESENTATION AND SIG19

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - Sale of Stock, Name of Transaction [Domain] - USD ($)	Nov. 05, 2014	Oct. 16, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Apr. 04, 2014
Accounting Policies [Line Items]
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, and 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	302,015	302,015	302,015
Deferred Finance Costs, Current, Gross			$ 499,768		$ 499,768
Accumulated Amortization of Current Deferred Finance Costs			72,162		72,162
Amortization of Financing Costs			$ 24,984		$ 43,110	$ 0
Stockholders' Equity, Reverse Stock Split	Company effected a 1-for-20 reverse stock split of the issued common stock. Each stockholders 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 noted thereto have been adjusted retroactively to give effect to the 1-for-20 reverse stock split.
Common Stock [Member]
Accounting Policies [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized							48,750
Land, Buildings and Improvements [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life					27 years 6 months
Incentive Compensation Plan 2012 [Member]
Accounting Policies [Line Items]
Stock Issued During Period, Shares, Issued for Services		425,000

INVESTMENTS IN REAL ESTATE (Det

INVESTMENTS IN REAL ESTATE (Details)	Jun. 30, 2015USD ($)Number	Dec. 31, 2014USD ($)Number
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	473	395
Land	$ 6,208,327	$ 5,422,647
Buildings and Improvements	28,391,874	23,961,608
Total Investmentsin Real Estate	$ 34,600,201	$ 29,384,255
Jacksonville Fl [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	78
Land	$ 785,680
Buildings and Improvements	4,408,460
Total Investmentsin Real Estate	$ 5,194,140
Memphis, TN [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number
Land	$ 0
Buildings and Improvements	16,630
Total Investmentsin Real Estate	$ 16,630
Houston, TX [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number
Land	$ 0
Buildings and Improvements	5,176
Total Investmentsin Real Estate	$ 5,176

INVESTMENTS IN REAL ESTATE (D21

INVESTMENTS IN REAL ESTATE (Details 1) - Investments [Domain] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
RESIDENTIAL HOMES, NET [Line Items]
Rental revenue	$ 1,267,986	$ 495,386	$ 2,382,773	$ 975,980
Depreciation and amortization	286,355	103,500	553,244	203,000
Net loss	$ (559,690)	$ (202,186)	$ (1,182,105)	$ (568,352)
Net loss per share, basic and fully diluted	$ (0.08)	$ (0.03)	$ (0.17)	$ (0.11)
Weighted average number of common shares outstanding, basic and fully diluted	7,016,796	5,821,794	7,016,796	5,111,366
Pro Forma [Member] | Real Estate Investment [Member]
RESIDENTIAL HOMES, NET [Line Items]
Rental revenue			$ 2,512,773	$ 2,416,908
Rental expenses			1,195,183	1,079,520
Depreciation and amortization			606,244	602,221
Net loss			$ (886,499)	$ (420,627)
Net loss per share, basic and fully diluted			$ (0.13)	$ (0.08)
Weighted average number of common shares outstanding, basic and fully diluted			7,016,796	5,111,366

INVESTMENTS IN REAL ESTATE (D22

INVESTMENTS IN REAL ESTATE (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Rental Income	$ 1,267,986	$ 495,386	$ 2,382,773	$ 975,980
Depreciation, Depletion and Amortization, Nonproduction	286,355	103,500	553,244	203,000
Net Income (Loss) Attributable to Parent, Total	$ (559,690)	$ (202,186)	(1,182,105)	$ (568,352)
Real Estate Investment [Member]
Rental Income			305,100
RentalExpense			137,300
Depreciation, Depletion and Amortization, Nonproduction			31,200
Net Income (Loss) Attributable to Parent, Total			$ 136,600

ACCOUNTS PAYABLE AND ACCRUED 23

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Accounts Payable And Accrued Expenses [Line Items]
Accounts payable	$ 293,923	$ 12,673
Property taxes payable	365,939	292,290
Accrued legal, board fees and other expenses	236,253	372,389
Interest payable	53,310	40,810
Accounts payable and accrued expenses	$ 949,425	$ 718,162

NOTES PAYABLE (Details Texual)

NOTES PAYABLE (Details Texual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 13, 2015	Dec. 31, 2014	Nov. 17, 2014	Jun. 12, 2014
Notes Payable [Line Items]
Escrow Deposit						$ 260,123
Interest Expense, Debt	$ 188,026	$ 3,332	$ 328,575	$ 3,332
Amortization of Financing Costs	$ 24,984		$ 43,110	$ 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			Jul. 5, 2019
Debt Instrument, Interest Rate Terms			The note provides for monthly interest only payments at a rate of 1.00% over the prime rate (interest rate is 4.25% per annum at June 30, 2015) until July 5, 2016.
Debt Instrument, Convertible, Remaining Discount Amortization Period			25 years
Debt Instrument Prepayment Penalty Percentage			3.00%
Debt Instrument Prepayment Maturity Date			Jul. 5, 2016
Reven Housing Tennessee, LLC [Member] | Silvergate Bank [Member]
Notes Payable [Line Items]
Debt Instrument, Annual Principal Payment							$ 3,952,140
Debt Instrument, Maturity Date			Dec. 5, 2019
Debt Instrument, Interest Rate Terms			The note provides for monthly interest only payments at a rate of 1.00% over the prime rate (interest rate is 4.25% per annum at June 30, 2015) until December 5, 2016.
Debt Instrument, Convertible, Remaining Discount Amortization Period			25 years
Debt Instrument Prepayment Penalty Percentage			3.00%
Debt Instrument Prepayment Maturity Date			Dec. 5, 2016
Reven Housing Florida, LLC [Member] | Silvergate Bank [Member]
Notes Payable [Line Items]
Debt Instrument, Annual Principal Payment					$ 3,526,985
Debt Instrument, Maturity Date			Apr. 5, 2020
Debt Instrument, Interest Rate Terms			The note provides for monthly interest only payments at a rate of 1.00% over the prime rate (interest rate is 4.25% per annum at June 30, 2015) until April 5, 2017.
Debt Instrument, Convertible, Remaining Discount Amortization Period			25 years
Debt Instrument Prepayment Penalty Percentage			3.00%
Debt Instrument Prepayment Maturity Date			Apr. 5, 2017

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - $ / shares	Nov. 05, 2014	Jun. 30, 2015
STOCKHOLDERS’ EQUITY [Line Items]
Stockholders' Equity, Reverse Stock Split	Company effected a 1-for-20 reverse stock split of the issued common stock. Each stockholders 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 noted thereto have been adjusted retroactively to give effect to the 1-for-20 reverse stock split.
Private Placement [Member]
STOCKHOLDERS’ EQUITY [Line Items]
Share Price		$ 4
Investment Warrants Expiration Date		Sep. 27, 2018
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 263,588
Stockholders' Equity, Reverse Stock Split	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 made 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.

STOCK COMPENSATION (Details Tex

STOCK COMPENSATION (Details Textual) - USD ($)	Apr. 04, 2014	Oct. 16, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Common Stock, Par or Stated Value Per Share			$ 0.001		$ 0.001
Share-based Compensation			$ 0	$ 195,000
IncenteveCompensationPlan2012 [Member]
Common Stock, Par or Stated Value Per Share			$ 4
Share-based Compensation				$ 195,000
Stock Issued During Period, Shares, Issued for Services	48,750	425,000

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic		$ 1,380,000
Federal Tax Loss Carry Forwards Expiration	expire in 2032

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Operating Leases, Rent Expense	$ 9,000	$ 9,000	$ 18,000	$ 16,500

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Other Commitments [Line Items]
Secured Debt	$ 370,960		$ 306,004
Payments to Acquire Residential Real Estate	5,215,946	$ 1,584,343
Earnest Money Deposits	181,176		87,000
Purchase Commitment [Member]
Other Commitments [Line Items]
Payments to Acquire Residential Real Estate	$ 18,118,000		$ 8,700,000