Reven Housing REIT (RVEN) 10-K 24 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 24, 2016	Jun. 30, 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
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Trading Symbol	RVEN
Entity Public Float			$ 2,088,360
Entity Common Stock, Shares Outstanding		7,039,405

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Investments in real estate:
Land	$ 6,761,350	$ 5,422,647
Buildings and improvements	31,744,657	23,961,608
Investments in real estate, gross	38,506,007	29,384,255
Accumulated depreciation	(1,630,873)	(592,114)
Investments in real estate, net	36,875,134	28,792,141
Cash	2,140,298	3,343,236
Rents and other receivables	239,928	157,230
Property tax and insurance reserves	0	260,123
Prepaid expenses and deposits	96,318	124,781
Escrow deposits	143,901	96,483
Lease origination costs, net	218,789	168,145
Deferred loan fees, net	480,956	333,544
Deferred stock issuance costs	742,757	535,450
Total Assets	40,938,081	33,811,133
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities	1,143,438	718,162
Security deposits	435,267	306,004
Notes payable	19,890,410	11,522,140
Total Liabilities	$ 21,469,115	$ 12,546,306
Commitments and contingencies (Note 11)
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	(5,139,346)	(3,343,485)
Total Stockholders' Equity	19,468,966	21,264,827
Total Liabilities and Stockholders' Equity	$ 40,938,081	$ 33,811,133

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 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

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenue:
Rental income	$ 4,934,201	$ 2,599,542
Other income	31,447	20,586
Revenues, Total	4,965,648	2,620,128
Expenses:
Property operating and maintenance	1,552,051	730,965
Real estate taxes	753,994	384,877
Acquisition costs	375,780	454,554
Depreciation and amortization expense	1,162,312	613,572
General and administration	1,795,844	1,298,513
Legal and accounting	377,528	272,713
Interest expense	744,000	194,363
Total expenses	6,761,509	3,949,557
Net loss	$ (1,795,861)	$ (1,329,429)
Net loss per share
(Basic and fully diluted) (in dollars per share)	$ (0.26)	$ (0.22)
Weighted average number of common shares outstanding (in shares)	7,016,796	5,946,159

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balances at Dec. 31, 2013	$ 14,026,985	$ 4,393	$ 16,036,648	$ (2,014,056)
Balances (in shares) at Dec. 31, 2013		4,393,046
Net proceeds from issuances of shares	8,372,271	$ 2,150	8,370,121	0
Net proceeds from issuances of shares (in shares)		2,150,000
Stock compensation	195,000	$ 474	194,526	0
Stock compensation (in shares)		473,750
Net loss	(1,329,429)	$ 0	0	(1,329,429)
Balances at Dec. 31, 2014	21,264,827	$ 7,017	24,601,295	(3,343,485)
Balances (in shares) at Dec. 31, 2014		7,016,796
Net loss	(1,795,861)	$ 0	0	(1,795,861)
Balances at Dec. 31, 2015	$ 19,468,966	$ 7,017	$ 24,601,295	$ (5,139,346)
Balances (in shares) at Dec. 31, 2015		7,016,796

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows From Operating Activities:
Net loss	$ (1,795,861)	$ (1,329,429)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,162,312	613,572
Stock compensation	0	195,000
Amortization of deferred loan fees	96,640	29,052
Gain on disposal of real estate	(26,382)	0
Changes in operating assets and liabilities:
Rents and other receivables	(82,698)	(147,177)
Property tax and insurance reserves	260,123	(260,123)
Prepaid expenses and deposits	28,463	(124,781)
Accounts payable and accrued liabilities	425,276	79,362
Security deposits	129,263	149,019
Net cash provided by (used in) operating activities	197,136	(795,505)
Cash Flows From Investing Activities:
Additions to investments in real estate	(9,166,752)	(17,184,885)
Proceeds from disposition of real estate	69,875	0
Lease origination costs	(172,690)	(188,515)
Escrow deposits	(47,418)	54,645
Net cash used in investing activities	(9,316,985)	(17,318,755)
Cash Flows From Financing Activities:
Proceeds from notes payable	8,402,880	11,522,140
Payment of notes payable	(34,610)	0
Payment of loan fees	(244,052)	(362,596)
Proceeds from common stock issuance	0	8,600,000
Payments of stock issuance costs	(207,307)	(436,558)
Net cash provided by financing activities	7,916,911	19,322,986
Net (Decrease) Increase In Cash	(1,202,938)	1,208,726
Cash at the Beginning of the Year	3,343,236	2,134,510
Cash at the End of the Year	2,140,298	3,343,236
Supplemental Disclosure:
Cash paid for interest	$ 625,421	$ 124,501

ORGANIZATION AND OPERATION

ORGANIZATION AND OPERATION	12 Months Ended
	Dec. 31, 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 wholly-owned 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 December 31, 2015 the Company owned 527 single family homes in the Houston, Jacksonville, Memphis and Atlanta metropolitan areas. The Company filed a registration statement on Form S-11 with the SEC for the offer of a minimum of 2,610,000 5,000,000 5.75

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 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 consolidated 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 the rules and regulations of the Securities Exchange Commission (“SEC”). 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 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 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 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 amounts for 2014 have been reclassified to conform to the current year’s presentation. The Company accounts for its investments in real estate as business combinations under the guidance of ASC Topic 805, Business Combinations Buildings and improvements are depreciated over estimated useful lives of approximately 10 27.5 straight-line method The Company assesses its investments in real estate for impairment 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 years ended December 31, 2015 and 2014. The Company maintains its cash 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 December 31, 2015 and 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 December 31, 2015 and 2014. Property tax and insurance reserves represented 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 future property purchases. As of December 31, 2015, the Company had offers accepted to purchase residential properties for an aggregate amount of $ 14,486,000 143,901 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 $ 606,648 125,692 362,596 29,052 96,640 29,052 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 completed 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. During the year ended December 31, 2014, $ 227,729 Security deposits represent amounts deposited by tenants at the inception of the lease. As of December 31, 2015 and 2014, the Company had $ 435,267 306,004 Property is leased under short term rental agreements of generally one year and revenue is recognized over the lease term on a straight-line basis. The The Company real estate investment trust (“ , as defined in will be able Qualification and Internal Revenue 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, 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 years ended December 31, 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 consolidated financial statements and notes thereto have been adjusted to give effect to the 1-for-20 reverse stock split The Company has determined that it has one reportable segment with activities related to leasing and operating single-family homes as rental properties. The Company's properties are geographically dispersed and management evaluates operating performance at the market level and while each market and its properties are unique, the aggregate market portfolios have similar economic interests and operating performance. As of December 31, 2015, approximately 48 32 18 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.

INVESTMENTS IN REAL ESTATE

INVESTMENTS IN REAL ESTATE	12 Months Ended
	Dec. 31, 2015
Residential Homes [Abstract]
Residential Homes [Text Block]	NOTE 3. INVESTMENTS IN REAL ESTATE The Company’s investment in real estate consists of single family homes purchased by the Company. The homes are generally leased to individual tenants under leases with terms of one year or less. Total Investments Number Buildings and Investments Accumulated in Real Estate of Homes Land Improvements in Real Estate Depreciation Net Total at January 1, 2014 159 $ 2,514,009 $ 9,685,361 $ 12,199,370 $ (73,950) $ 12,125,420 Purchases and improvements during 2014: Houston, TX 18 319,500 1,236,765 1,556,265 (375,533) 1,180,732 Jacksonville, FL 123 1,506,938 6,865,952 8,372,890 (50,239) 8,322,651 Memphis, TN 95 1,082,200 6,160,183 7,242,383 (74,474) 7,167,909 Atlanta, GA improvements - - 13,347 13,347 (17,918) (4,571) Total at December 31, 2014 395 $ 5,422,647 $ 23,961,608 $ 29,384,255 $ (592,114) $ 28,792,141 Purchases and improvements during 2015: Houston, TX - - 34,938 34,938 (380,630) (345,692) Jacksonville, FL 133 1,345,453 7,723,661 9,069,114 (415,172) 8,653,942 Memphis, TN - - 60,550 60,550 (226,188) (165,638) Memphis, TN (disposition) (1) (6,750) (38,250) (45,000) 1,507 (43,493) Atlanta, GA improvements - - 2,150 2,150 (18,276) (16,126) Total at December 31, 2015 527 $ 6,761,350 $ 31,744,657 $ 38,506,007 $ (1,630,873) $ 36,875,134 For the year ended December 31, 2015, the Company included $ 698,976 366,809 375,780 118,180 161,793 For the year ended December 31, 2014, the Company included $ 830,148 325,736 454,554 178,521 128,663 Unaudited Pro Forma Financial Information The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company for the years ended December 31, 2015 and 2014 prepared as if all of the Company’s acquisitions of properties in 2015 and 2014 occurred on January 1, 2014. For the Year Ended December 31 2015 2014 Rental income $ 5,505,588 $ 4,973,401 Property operating, maintenance and real estate taxes $ 2,581,141 $ 2,309,751 Depreciation and amortization $ 1,275,312 $ 1,295,232 Net loss $ (1,491,237) $ (2,538,505) Net loss per share, basic and fully diluted $ (0.21) $ (0.43) Weighted average number of common shares outstanding, basic and fully diluted 7,016,796 5,946,159 The unaudited pro forma information for the years ended December 31, 2015 and 2014 has been adjusted to include all acquisition fees and expenses related to the acquisitions as being recorded on January 1, 2014 and additionally to include the additional interest expense relating to the Company’s 2015 and 2014 borrowings.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 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 $ 321,815 $ 12,673 Property taxes payable 415,124 292,290 Accrued legal, board fees and other expenses 343,750 372,389 Interest payable 62,749 40,810 $ 1,143,438 $ 718,162

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 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 July 5, 2016 25 3 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 December 5, 2016 25 3 34,610 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 April 5, 2017 25 3 On October 14, 2015, Reven Housing Florida 2, LLC, a wholly owned subsidiary of the Company, received $ 4,452,382 423,513 4,875,895 November 5, 2020 November 5, 2017 25 3 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 years ended December 31, 2015 and 2014, the Company incurred $ 744,000 194,363 96,640 29,052 2015 2014 Note Reven Housing Texas, LLC $ 7,570,000 $ 7,570,000 Reven Housing Tennessee, LLC 3,917,530 3,952,140 Reven Housing Florida, LLC 3,526,985 - Reven Housing Florida 2, LLC 4,875,895 - $ 19,890,410 $ 11,522,140 2016 68,960 2017 318,168 2018 458,419 2019 11,089,038 2020 7,955,825 $ 19,890,410

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders Equity Note Disclosure [Text Block]	NOTE 6. STOCKHOLDERS’ EQUITY On April 4, 2014, the Company issued 675,000 4.00 2,700,000 5,900,000 1,475,000 4.00 227,729 8,372,271 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 The Company has outstanding warrants that allow holders to purchase up to 263,588 4.00 September 27, 2018

STOCK COMPENSATION

STOCK COMPENSATION	12 Months Ended
	Dec. 31, 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	12 Months Ended
	Dec. 31, 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 December 31, 2015 and 2014. At December 31, 2015 and December 31, 2014, the Company had federal and state net operating loss carry-forwards of approximately $ 2,900,000 1,511,000 2032 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 ended December 31, 2015, should it meet all requirements allowing it to do so. The Company would then generally not be subject to income taxes assuming it complied with the specific distribution rules applicable to REITs. The Company is currently in the process of evaluating whether it will meet the REIT requirements for 2015. The Company has also incurred current and prior year net operating losses, thus is not expecting to incur current income tax expenses, and due to its expectations of electing REIT status commencing in 2015, is not expected to realize any future tax benefits from the current years, or prior years’ operating losses. 2015 2014 Deferred tax assets: Start-up and acquisition costs $ 500,000 $ 400,000 Net operating losses 1,276,000 640,000 1,776,000 1,040,000 Valuation allowance (1,776,000) (1,040,000) Net deferred tax assets $ - $ - 2014 2014 Tax computed at the federal statutory rate $ (630,000) $ (450,000) State taxes (160,000) (80,000) Valuation allowance 790,000 530,000 Total provision $ - $ -

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 9. RELATED PARTY TRANSACTIONS The Company sub-leased 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 its Chief Executive Officer, through January 31, 2016. Rental payments totaled $ 36,000 34,555

RENTAL INCOME

RENTAL INCOME	12 Months Ended
	Dec. 31, 2015
Lease Income [Abstract]
Lease Income [Text Block]	NOTE 10. RENTAL INCOME 2016 1,928,499 2017 707,196 $ 2,635,695

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 11. 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 consolidated financial statements and, therefore, no accrual has been recorded as of the years ended December 31, 2015 and 2014. Operating Lease On December 21, 2015, the Company entered into a new office lease agreement. The lease term is 64 2016 57,600 2017 65,728 2018 81,279 2019 83,717 2020 86,229 2021 36,881 $ 411,434

BASIS OF PRESENTATION AND SIG18

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying consolidated 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 the rules and regulations of the Securities Exchange Commission (“SEC”).
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 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 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 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 amounts for 2014 have been reclassified to conform to the current year’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 Buildings and improvements are depreciated over estimated useful lives of approximately 10 27.5 straight-line method The Company assesses its investments in real estate for impairment 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 years ended December 31, 2015 and 2014.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash The Company maintains its cash 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 December 31, 2015 and 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 December 31, 2015 and 2014.
Tax Insurance Reserve And Holdback Funds [Policy Text Block]	Property Tax and Insurance Reserves Property tax and insurance reserves represented 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 Escrow deposits include refundable and non-refundable cash and earnest money on deposit with third parties for future property purchases. As of December 31, 2015, the Company had offers accepted to purchase residential properties for an aggregate amount of $ 14,486,000 143,901
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 $ 606,648 125,692 362,596 29,052 96,640 29,052
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 completed 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. During the year ended December 31, 2014, $ 227,729
Security Deposits [Policy Text Block]	Security Deposits Security deposits represent amounts deposited by tenants at the inception of the lease. As of December 31, 2015 and 2014, the Company had $ 435,267 306,004
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Property is leased under short term 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 The Company real estate investment trust (“ , as defined in will be able Qualification and Internal Revenue
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, 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 years ended December 31, 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 consolidated financial statements and notes thereto have been adjusted to give effect to the 1-for-20 reverse stock split
Segment Reporting, Policy [Policy Text Block]	Segment Reporting The Company has determined that it has one reportable segment with activities related to leasing and operating single-family homes as rental properties. The Company's properties are geographically dispersed and management evaluates operating performance at the market level and while each market and its properties are unique, the aggregate market portfolios have similar economic interests and operating performance. As of December 31, 2015, approximately 48 32 18
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.

INVESTMENTS IN REAL ESTATE (Tab

INVESTMENTS IN REAL ESTATE (Tables)	12 Months Ended
	Dec. 31, 2015
Residential Homes [Abstract]
Schedule of Real Estate Properties [Table Text Block]	The following table summarizes the Company’s investments in real estate: Total Investments Number Buildings and Investments Accumulated in Real Estate of Homes Land Improvements in Real Estate Depreciation Net Total at January 1, 2014 159 $ 2,514,009 $ 9,685,361 $ 12,199,370 $ (73,950) $ 12,125,420 Purchases and improvements during 2014: Houston, TX 18 319,500 1,236,765 1,556,265 (375,533) 1,180,732 Jacksonville, FL 123 1,506,938 6,865,952 8,372,890 (50,239) 8,322,651 Memphis, TN 95 1,082,200 6,160,183 7,242,383 (74,474) 7,167,909 Atlanta, GA improvements - - 13,347 13,347 (17,918) (4,571) Total at December 31, 2014 395 $ 5,422,647 $ 23,961,608 $ 29,384,255 $ (592,114) $ 28,792,141 Purchases and improvements during 2015: Houston, TX - - 34,938 34,938 (380,630) (345,692) Jacksonville, FL 133 1,345,453 7,723,661 9,069,114 (415,172) 8,653,942 Memphis, TN - - 60,550 60,550 (226,188) (165,638) Memphis, TN (disposition) (1) (6,750) (38,250) (45,000) 1,507 (43,493) Atlanta, GA improvements - - 2,150 2,150 (18,276) (16,126) Total at December 31, 2015 527 $ 6,761,350 $ 31,744,657 $ 38,506,007 $ (1,630,873) $ 36,875,134
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 Year Ended December 31 2015 2014 Rental income $ 5,505,588 $ 4,973,401 Property operating, maintenance and real estate taxes $ 2,581,141 $ 2,309,751 Depreciation and amortization $ 1,275,312 $ 1,295,232 Net loss $ (1,491,237) $ (2,538,505) Net loss per share, basic and fully diluted $ (0.21) $ (0.43) Weighted average number of common shares outstanding, basic and fully diluted 7,016,796 5,946,159

ACCOUNTS PAYABLE AND ACCRUED 20

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	At December 31, 2015 and 2014, accounts payable and accrued liabilities consisted of the following: 2015 2014 Accounts payable $ 321,815 $ 12,673 Property taxes payable 415,124 292,290 Accrued legal, board fees and other expenses 343,750 372,389 Interest payable 62,749 40,810 $ 1,143,438 $ 718,162

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	A summary of the Company’s notes payable as of December 31, 2015 and 2014 is as follows: 2015 2014 Note Reven Housing Texas, LLC $ 7,570,000 $ 7,570,000 Reven Housing Tennessee, LLC 3,917,530 3,952,140 Reven Housing Florida, LLC 3,526,985 - Reven Housing Florida 2, LLC 4,875,895 - $ 19,890,410 $ 11,522,140
Schedule of Long-term Debt Instruments [Table Text Block]	A schedule of future minimum principal payments under the terms of the loans for the following years is as follows: 2016 68,960 2017 318,168 2018 458,419 2019 11,089,038 2020 7,955,825 $ 19,890,410

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Significant components of the Company’s deferred tax assets are as follows: 2015 2014 Deferred tax assets: Start-up and acquisition costs $ 500,000 $ 400,000 Net operating losses 1,276,000 640,000 1,776,000 1,040,000 Valuation allowance (1,776,000) (1,040,000) Net deferred tax assets $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Expected income tax (benefit) by applying the statutory income tax rate to net loss differs from the actual tax provision as follows: 2014 2014 Tax computed at the federal statutory rate $ (630,000) $ (450,000) State taxes (160,000) (80,000) Valuation allowance 790,000 530,000 Total provision $ - $ -

RENTAL INCOME (Tables)

RENTAL INCOME (Tables)	12 Months Ended
	Dec. 31, 2015
Lease Income [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The Company generally rents single family homes to individuals under non-cancelable lease agreements with a term of one year. Future minimum rental revenues under existing leases on properties as of December 31, 2015 are expected to be as follows: 2016 1,928,499 2017 707,196 $ 2,635,695

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Operating Leases of Lessee Disclosure [Table Text Block]	A schedule of future minimum lease payments under the operating lease for the following years is as follows: 2016 57,600 2017 65,728 2018 81,279 2019 83,717 2020 86,229 2021 36,881 $ 411,434

ORGANIZATION AND OPERATION (Det

ORGANIZATION AND OPERATION (Details Textual)	Feb. 11, 2016$ / sharesshares
Organization And Operation [Line Items]
Share Price | $ / shares	$ 5.75
Minimum [Member] | Subsequent Event [Member]
Organization And Operation [Line Items]
Common Stock, Offered to Public	2,610,000
Maximum [Member] | Subsequent Event [Member]
Organization And Operation [Line Items]
Common Stock, Offered to Public	5,000,000

BASIS OF PRESENTATION AND SIG26

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	Nov. 05, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2012	Oct. 16, 2014	Apr. 04, 2014
Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		263,588	263,588
Deferred Finance Costs, Current, Gross		$ 606,648	$ 362,596
Accumulated Amortization of Current Deferred Finance Costs		125,692	29,052
Amortization of Financing Costs		96,640	29,052
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 consolidated financial statements and notes thereto have been adjusted to give effect to the 1-for-20 reverse stock split
Deferred Offering Costs		742,757	535,450
Security Deposit		435,267	306,004
Earnest Money Deposits		$ 143,901
Property, Plant and Equipment, Depreciation Methods		straight-line method
Offers Accepted to Purchase Residential Properties, Aggregate Amount		$ 14,486,000
Jacksonville Florida [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage		48.00%
Houston Texas [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage		32.00%
Memphis Tennessee [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage		18.00%
Additional Paid-in Capital [Member]
Accounting Policies [Line Items]
Deferred Offering Costs			$ 227,729
Buildings and Improvements [Member] | Minimum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life		10 years
Buildings and Improvements [Member] | Maximum [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life		27 years 6 months
Incentive Compensation Plan 2012 [Member]
Accounting Policies [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				1,650,000	425,000	48,750
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

INVESTMENTS IN REAL ESTATE (Det

INVESTMENTS IN REAL ESTATE (Details)	Dec. 31, 2015USD ($)Number	Dec. 31, 2014USD ($)Number	Dec. 31, 2013USD ($)Number
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	527	395	159
Land	$ 6,761,350	$ 5,422,647	$ 2,514,009
Buildings and Improvements	31,744,657	23,961,608	9,685,361
Total Investmentsin Real Estate	38,506,007	29,384,255	12,199,370
Accumulated Depreciation	(1,630,873)	(592,114)	(73,950)
Investments in Real Estate Net	$ 36,875,134	$ 28,792,141	$ 12,125,420
Houston, TX [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0	18
Land	$ 0	$ 319,500
Buildings and Improvements	34,938	1,236,765
Total Investmentsin Real Estate	34,938	1,556,265
Accumulated Depreciation	(380,630)	(375,533)
Investments in Real Estate Net	$ (345,692)	$ 1,180,732
Jacksonville Fl [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	133	123
Land	$ 1,345,453	$ 1,506,938
Buildings and Improvements	7,723,661	6,865,952
Total Investmentsin Real Estate	9,069,114	8,372,890
Accumulated Depreciation	(415,172)	(50,239)
Investments in Real Estate Net	$ 8,653,942	$ 8,322,651
Memphis, TN [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0	95
Land	$ 0	$ 1,082,200
Buildings and Improvements	60,550	6,160,183
Total Investmentsin Real Estate	60,550	7,242,383
Accumulated Depreciation	(226,188)	(74,474)
Investments in Real Estate Net	$ (165,638)	$ 7,167,909
Number of Homes (Disposition) | Number	(1)
Land (Disposition)	$ (6,750)
Buildings and Improvements (Disposition)	(38,250)
Total Investmentsin Real Estate (Disposition)	(45,000)
Accumulated Depreciation (Disposition)	1,507
Investments in Real Estate Net (Disposition)	$ (43,493)
Atlanta, GA [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0	0
Land	$ 0	$ 0
Buildings and Improvements	2,150	13,347
Total Investmentsin Real Estate	2,150	13,347
Accumulated Depreciation	(18,276)	(17,918)
Investments in Real Estate Net	$ (16,126)	$ (4,571)

INVESTMENTS IN REAL ESTATE (D28

INVESTMENTS IN REAL ESTATE (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
RESIDENTIAL HOMES, NET [Line Items]
Rental income	$ 4,934,201	$ 2,599,542
Property operating, maintenance and real estate taxes	1,552,051	730,965
Depreciation and amortization	1,162,312	613,572
Net loss	$ (1,795,861)	$ (1,329,429)
Net loss per share, basic and fully diluted	$ (0.26)	$ (0.22)
Weighted average number of common shares outstanding, basic and fully diluted	7,016,796	5,946,159
Pro Forma [Member] | Real Estate Investment [Member]
RESIDENTIAL HOMES, NET [Line Items]
Rental income	$ 5,505,588	$ 4,973,401
Property operating, maintenance and real estate taxes	2,581,141	2,309,751
Depreciation and amortization	1,275,312	1,295,232
Net loss	$ (1,491,237)	$ (2,538,505)
Net loss per share, basic and fully diluted	$ (0.21)	$ (0.43)
Weighted average number of common shares outstanding, basic and fully diluted	7,016,796	5,946,159

INVESTMENTS IN REAL ESTATE (D29

INVESTMENTS IN REAL ESTATE (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Rental Income	$ 4,934,201	$ 2,599,542
Cost of Property Repairs and Maintenance	1,552,051	730,965
Depreciation, Depletion and Amortization, Nonproduction	1,162,312	613,572
Net Income (Loss) Attributable to Parent, Total	(1,795,861)	(1,329,429)
Acquisition-related Costs [Member]
Rental Income	698,976	830,148
Cost of Property Repairs and Maintenance	366,809	325,736
Acquisition Costs, Period Cost	375,780	454,554
Depreciation, Depletion and Amortization, Nonproduction	118,180	178,521
Net Income (Loss) Attributable to Parent, Total	$ 161,793	$ 128,663

ACCOUNTS PAYABLE AND ACCRUED 30

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accounts Payable And Accrued Expenses [Line Items]
Accounts payable	$ 321,815	$ 12,673
Property taxes payable	415,124	292,290
Accrued legal, board fees and other expenses	343,750	372,389
Interest payable	62,749	40,810
Accounts payable and accrued liabilities	$ 1,143,438	$ 718,162

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Note
Notes Payable, Total	$ 19,890,410	$ 11,522,140
Reven Housing Texas, LLC [Member]
Note
Notes Payable, Total	7,570,000	7,570,000
Reven Housing Tennessee, LLC [Member]
Note
Notes Payable, Total	3,917,530	3,952,140
Reven Housing Florida, LLC [Member]
Note
Notes Payable, Total	3,526,985	0
Reven Housing Florida 2, LLC [Member]
Note
Notes Payable, Total	$ 4,875,895	$ 0

NOTES PAYABLE (Details 1)

NOTES PAYABLE (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
2,016	$ 68,960
2,017	318,168
2,018	458,419
2,019	11,089,038
2,020	7,955,825
Notes Payable, Total	$ 19,890,410	$ 11,522,140

NOTES PAYABLE (Details Textual)

NOTES PAYABLE (Details Textual) - USD ($)	Dec. 10, 2015	Dec. 31, 2015	Dec. 31, 2014	Oct. 14, 2015	Mar. 13, 2015	Nov. 17, 2014	Jun. 12, 2014
Notes Payable [Line Items]
Escrow deposits		$ 0	$ 260,123
Interest Expense, Debt		744,000	194,363
Amortization of Financing Costs		$ 96,640	$ 29,052
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 4.50% per annum at December 31, 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 4.50% per annum at December 31, 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
Debt Instrument, Periodic Payment, Total		$ 34,610
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 4.50% per annum at December 31, 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
Reven Housing Florida 2, LLC [Member] | Silvergate Bank [Member]
Notes Payable [Line Items]
Debt Instrument, Annual Principal Payment				$ 4,452,382
Debt Instrument, Maturity Date		Nov. 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 (current interest rate is 4.50% per annum at December 31, 2015) until November 5, 2017.
Debt Instrument, Convertible, Remaining Discount Amortization Period		25 years
Debt Instrument Prepayment Penalty Percentage		3.00%
Debt Instrument Prepayment Maturity Date		Nov. 5, 2017
Proceeds from Issuance of Other Long-term Debt	$ 423,513
Long-term Debt	$ 4,875,895

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	Nov. 05, 2014	Apr. 04, 2014	May. 16, 2014	Dec. 31, 2015	Feb. 11, 2016
STOCKHOLDERS' EQUITY [Line Items]
Share Price					$ 5.75
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 consolidated financial statements and notes thereto have been adjusted to give effect to the 1-for-20 reverse stock split
Private Placement [Member]
STOCKHOLDERS' EQUITY [Line Items]
Warrants To Purchase Common Stock				263,588
Stock Issued During Period, Shares, New Issues		675,000	1,475,000
Share Price		$ 4	$ 4	$ 4
Proceeds from Issuance of Private Placement		$ 2,700,000	$ 5,900,000
Investment Warrants Expiration Date				Sep. 27, 2018
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
Other Ownership Interests, Offering Costs			227,729
Net proceeds			$ 8,372,271

STOCK COMPENSATION (Details Tex

STOCK COMPENSATION (Details Textual) - USD ($)	Apr. 04, 2014	Oct. 16, 2014	Dec. 31, 2015	Dec. 31, 2014
Common Stock, Par or Stated Value Per Share			$ 0.001	$ 0.001
Share-based Compensation			$ 0	$ 195,000
Incentive Compensation Plan 2012 [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)

INCOME TAXES (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Start-up and acquisition costs	$ 500,000	$ 400,000
Net operating losses	1,276,000	640,000
Deferred Tax Assets, Gross, Total	1,776,000	1,040,000
Deferred tax liabilities:
Valuation allowance	(1,776,000)	(1,040,000)
Net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Line Items]
Tax computed at the federal statutory rate	$ (630,000)	$ (450,000)
State taxes	(160,000)	(80,000)
Valuation allowance	790,000	530,000
Total provision	$ 0	$ 0

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$ 2,900,000	$ 2,900,000
Federal Tax Loss Carry Forwards Expiration	expire in 2032
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$ 1,511,000	$ 1,511,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Operating Leases, Rent Expense	$ 36,000	$ 34,555

RENTAL INCOME (Details)

RENTAL INCOME (Details)	Dec. 31, 2015USD ($)
LEASE INCOME [Line Items]
2,016	$ 1,928,499
2,017	707,196
Operating Leases, Future Minimum Payments Receivable, Total	$ 2,635,695

COMMITMENTS AND CONTINGENCIES41

COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
2,016	$ 57,600
2,017	65,728
2,018	81,279
2,019	83,717
2,020	86,229
2,021	36,881
Operating Leases, Future Minimum Payments Due, Total	$ 411,434

COMMITMENTS AND CONTINGENCIES42

COMMITMENTS AND CONTINGENCIES (Details Textual)	1 Months Ended
	Dec. 21, 2015
Other Commitments [Line Items]
Operating Lease Maturity Term	64 months