Reven Housing REIT (RVEN) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 06, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
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		7,039,405

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Investments in real estate:
Land	$ 6,761,350	$ 6,761,350
Buildings and improvements	31,841,378	31,744,657
Investments in real estate, gross	38,602,728	38,506,007
Accumulated depreciation	(1,925,787)	(1,630,873)
Investments in real estate, net	36,676,941	36,875,134
Cash	1,626,158	2,140,298
Rents and other receivables	253,587	239,928
Escrow deposits	87,000	143,901
Lease origination costs, net	210,578	218,789
Deferred stock issuance costs	820,844	742,757
Other, net	357,431	96,318
Total Assets	40,032,539	40,457,125
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities	937,920	1,143,438
Security deposits	450,708	435,267
Notes payable, net	19,439,781	19,409,454
Total Liabilities	$ 20,828,409	$ 20,988,159
Commitments and contingencies (Note 9)
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;7,039,405 and 7,016,796 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	7,039	7,017
Additional paid-in capital	24,714,317	24,601,295
Accumulated deficit	(5,517,226)	(5,139,346)
Total Stockholders' Equity	19,204,130	19,468,966
Total Liabilities and Stockholders' Equity	$ 40,032,539	$ 40,457,125

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
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	7,039,405	7,016,796
Common stock, shares outstanding	7,039,405	7,016,796

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Rental income	$ 1,378,979	$ 1,114,787
Expenses:
Property operating and maintenance	401,236	283,576
Real estate taxes	213,162	162,501
Acquisition costs	57,864	246,085
Depreciation and amortization expense	325,416	266,888
General and administration	448,058	482,283
Legal and accounting	52,966	155,320
Interest expense	258,157	140,549
Total expenses	1,756,859	1,737,202
Net loss	$ (377,880)	$ (622,415)
Net loss per share
(Basic and fully diluted) (in dollars per share)	$ (0.05)	$ (0.09)
Weighted average number of common shares outstanding (in shares)	7,031,618	7,016,796

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows From Operating Activities:
Net loss	$ (377,880)	$ (622,415)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	325,416	266,888
Stock compensation	113,045	0
Amortization of deferred loan fees	30,327	18,126
Changes in operating assets and liabilities:
Rents and other receivables	(13,659)	(36,812)
Property tax and insurance reserves	0	260,123
Other assets and escrow deposits	(204,212)	(3,332)
Accounts payable and accrued liabilities	(205,518)	141,256
Security deposits	15,441	67,425
Net cash (used in) provided by operating activities	(317,040)	91,259
Cash Flows From Investing Activities:
Additions to investments in real estate	(96,721)	(4,847,503)
Lease origination costs	(22,292)	(54,447)
Net cash used in investing activities	(119,013)	(4,901,950)
Cash Flows From Financing Activities:
Proceeds from notes payable	0	3,526,985
Payment of loan fees	0	(137,171)
Payments of deferred stock issuance costs	(78,087)	0
Net cash (used in) provided by financing activities	(78,087)	3,389,814
Net Decrease In Cash	(514,140)	(1,420,877)
Cash at the Beginning of the Period	2,140,298	3,343,236
Cash at the End of the Period	1,626,158	1,922,359
Supplemental Disclosure:
Cash paid for interest	$ 225,935	$ 122,423

ORGANIZATION AND OPERATION

ORGANIZATION AND OPERATION	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 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 3,000,000 5,000,000 5.00

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
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”). 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 2015 Annual Report on Form 10-K filed with the SEC on March 24, 2016. The results of operations for the period ended March 31, 2016 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 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 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 Buildings and improvements are depreciated over estimated useful lives of approximately 10 27.5 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 periods ended March 31, 2016 and 2015. 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. 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 March 31, 2016 and December 31, 2015. Escrow deposits include refundable and non-refundable cash and earnest money on deposit with third parties for future property purchases. As of March 31, 2016, the Company had offers accepted to purchase residential properties for an aggregate amount of $ 14,486,000 143,901 57,000 87,000 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 expected to be 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. As of March 31, 2016 and December 31, 2015, the Company had $ 450,708 435,267 Property is leased under short term rental agreements generally with a one year term, and revenue is recognized over the lease term on a straight-line basis. 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 March 31, 2016 and 2015, the Company had no unrecognized tax benefits. The Company 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 these 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 is 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 is distributed. The Company believes that the current composition of our shareholders, if unchanged before the second half of 2016, would not comply with the ownership requirement for qualification as a REIT. Nevertheless, the Company intends to timely comply with this requirement as a result of the issuance of shares in our current offering, although no assurance can be given that we will be successful in this regard, or that we 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. 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. Awards are exercisable over a period of time as determined by a committee designated by the Board of Directors, but in no event longer than ten years A total of 496,359 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 periods ended March 31, 2016 and 2015, potentially dilutive securities excluded from the calculations were 263,588 On April 7, 2015, the FASB issued Accounting Standards Updated (“ASU”) 2015-03, Interest – Imputation of Interest (Subtopic 835-30) implifying the Presentation of Debt Issuance Costs The Company is currently evaluating all other 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	3 Months Ended
	Mar. 31, 2016
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 Number Buildings and Investments of Homes Land Improvements in Real Estate Total at December 31, 2015 527 $ 6,761,350 $ 31,744,657 $ 38,506,007 Improvements during 2016: Jacksonville, FL - - 54,946 54,946 Memphis, TN - - 14,858 14,858 Houston, TX - - 19,283 19,283 Atlanta, GA - - 7,634 7,634 Total at March 31, 2016 527 $ 6,761,350 $ 31,841,378 $ 38,602,728

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES At March 31, 2016 and December 31, 2015, accounts payable and accrued liabilities consisted of the following: 2016 2015 Accounts payable $ 272,012 $ 321,815 Property taxes payable 211,725 415,124 Accrued legal, board fees and other expenses 389,539 343,750 Interest payable 64,644 62,749 $ 937,920 $ 1,143,438

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Mar. 31, 2016
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, 2016 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 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 Deferred loan fees As discussed in Note 2, the Company adopted ASU 2015-03 during the quarter ended March 31, 2016 and presents deferred financing costs as a deduction to the note payable in the accompanying balance sheet. 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. The amount of unamortized fees are further deducted from the remaining principal amount owed on the corresponding notes payable. Deferred loan costs and fees totaled $ 606,648 156,019 606,648 125,692 During the periods ended March 31, 2016 and 2015, the Company incurred $ 258,157 140,549 30,327 18,126 2016 2015 Note Reven Housing Texas, LLC $ 7,570,000 $ 7,570,000 Reven Housing Tennessee, LLC 3,917,530 3,917,530 Reven Housing Florida, LLC 3,526,985 3,526,985 Reven Housing Florida 2, LLC 4,875,895 4,875,895 19,890,410 19,890,410 Less deferred loan fees, net (450,629) (480,956) Notes payable, net $ 19,439,781 $ 19,409,454

STOCKHOLDERS_ EQUITY AND STOCK

STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 6. STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION On October 16, 2014, the Company issued an aggregate of 425,000 On February 1, 2016, the Company issued an aggregate of 22,609 5.00 113,045 The Company has outstanding warrants that allow holders to purchase up to 263,588 4.00 September 27, 2018

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 7. 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 March 31, 2016 and December 31, 2015. At December 31, 2015 the Company had federal and state net operating loss carry-forwards of approximately $ 2,900,000 expire in 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 believes that the current composition of our shareholders, if unchanged before the second half of 2016, would not comply with the ownership requirement for qualification as a REIT. Nevertheless, the Company intends to timely comply with this requirement as a result of the issuance of shares in our current offering, although no assurance can be given that we will be successful in this regard, or that we will be organized or be able to operate in a manner so as to qualify or remain qualified as a REIT. 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 8. 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. This arrangement was terminated upon the Company relocating its office space and signing a new lease agreement with an unrelated party. Rental payments under this sub-lease totaled $ 3,000 9,000 Effective February 1, 2016, the Company entered into an agreement with Reven Capital, LLC where Reven Capital, LLC sub-leases space from the Company for $500 per month on a month to month basis.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 9. 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 periods ended March 31, 2016 and 2015.

BASIS OF PRESENTATION AND SIG15

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
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”). 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 2015 Annual Report on Form 10-K filed with the SEC on March 24, 2016. The results of operations for the period ended March 31, 2016 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 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 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 Buildings and improvements are depreciated over estimated useful lives of approximately 10 27.5 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 periods ended March 31, 2016 and 2015.
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.
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 March 31, 2016 and December 31, 2015.
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 March 31, 2016, the Company had offers accepted to purchase residential properties for an aggregate amount of $ 14,486,000 143,901 57,000 87,000
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 expected to be 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. As of March 31, 2016 and December 31, 2015, the Company had $ 450,708 435,267
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Property is leased under short term rental agreements generally with a one year term, and revenue is recognized over the lease term on a straight-line basis.
Income Tax, Policy [Policy Text Block]	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 March 31, 2016 and 2015, the Company had no unrecognized tax benefits. The Company 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 these 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 is 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 is distributed. The Company believes that the current composition of our shareholders, if unchanged before the second half of 2016, would not comply with the ownership requirement for qualification as a REIT. Nevertheless, the Company intends to timely comply with this requirement as a result of the issuance of shares in our current offering, although no assurance can be given that we will be successful in this regard, or that we 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.
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. Awards are exercisable over a period of time as determined by a committee designated by the Board of Directors, but in no event longer than ten years A total of 496,359
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 periods ended March 31, 2016 and 2015, potentially dilutive securities excluded from the calculations were 263,588
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements On April 7, 2015, the FASB issued Accounting Standards Updated (“ASU”) 2015-03, Interest – Imputation of Interest (Subtopic 835-30) implifying the Presentation of Debt Issuance Costs The Company is currently evaluating all other 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)	3 Months Ended
	Mar. 31, 2016
Residential Homes [Abstract]
Schedule of Real Estate Properties [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, 2015 527 $ 6,761,350 $ 31,744,657 $ 38,506,007 Improvements during 2016: Jacksonville, FL - - 54,946 54,946 Memphis, TN - - 14,858 14,858 Houston, TX - - 19,283 19,283 Atlanta, GA - - 7,634 7,634 Total at March 31, 2016 527 $ 6,761,350 $ 31,841,378 $ 38,602,728

ACCOUNTS PAYABLE AND ACCRUED 17

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	At March 31, 2016 and December 31, 2015, accounts payable and accrued liabilities consisted of the following: 2016 2015 Accounts payable $ 272,012 $ 321,815 Property taxes payable 211,725 415,124 Accrued legal, board fees and other expenses 389,539 343,750 Interest payable 64,644 62,749 $ 937,920 $ 1,143,438

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	A summary of the Company’s notes payable as of March 31, 2016 and December 31, 2015 is as follows: 2016 2015 Note Reven Housing Texas, LLC $ 7,570,000 $ 7,570,000 Reven Housing Tennessee, LLC 3,917,530 3,917,530 Reven Housing Florida, LLC 3,526,985 3,526,985 Reven Housing Florida 2, LLC 4,875,895 4,875,895 19,890,410 19,890,410 Less deferred loan fees, net (450,629) (480,956) Notes payable, net $ 19,439,781 $ 19,409,454

ORGANIZATION AND OPERATION (Det

ORGANIZATION AND OPERATION (Details Textual)	May. 10, 2016$ / sharesshares
Organization And Operation [Line Items]
Share Price | $ / shares	$ 5
Minimum [Member] | Subsequent Event [Member]
Organization And Operation [Line Items]
Common Stock, Offered to Public	3,000,000
Maximum [Member] | Subsequent Event [Member]
Organization And Operation [Line Items]
Common Stock, Offered to Public	5,000,000

BASIS OF PRESENTATION AND SIG20

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2012	Dec. 31, 2015
Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	263,588
Security Deposit	$ 450,708		$ 435,267
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
Earnest Money Deposits, Forfeited	57,000
Earnest Money Deposits, Refunded	$ 87,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	496,359
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
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. Awards are exercisable over a period of time as determined by a committee designated by the Board of Directors, but in no event longer than ten years

INVESTMENTS IN REAL ESTATE (Det

INVESTMENTS IN REAL ESTATE (Details)	Mar. 31, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	527	527
Land	$ 6,761,350	$ 6,761,350
Buildings and Improvements	31,841,378	31,744,657
Total Investmentsin Real Estate	$ 38,602,728	$ 38,506,007
Jacksonville Fl [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0
Land	$ 0
Buildings and Improvements	54,946
Total Investmentsin Real Estate	$ 54,946
Memphis, TN [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0
Land	$ 0
Buildings and Improvements	14,858
Total Investmentsin Real Estate	$ 14,858
Houston, TX [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0
Land	$ 0
Buildings and Improvements	19,283
Total Investmentsin Real Estate	$ 19,283
Atlanta, GA [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0
Land	$ 0
Buildings and Improvements	7,634
Total Investmentsin Real Estate	$ 7,634

ACCOUNTS PAYABLE AND ACCRUED 22

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Accounts Payable And Accrued Expenses [Line Items]
Accounts payable	$ 272,012	$ 321,815
Property taxes payable	211,725	415,124
Accrued legal, board fees and other expenses	389,539	343,750
Interest payable	64,644	62,749
Accounts payable and accrued liabilities	$ 937,920	$ 1,143,438

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Note
Long-term Debt, Gross	$ 19,890,410	$ 19,890,410
Deferred Finance Costs, Net	(450,629)	(480,956)
Convertible Notes Payable	19,439,781	19,409,454
Reven Housing Texas, LLC [Member]
Note
Long-term Debt, Gross	7,570,000	7,570,000
Reven Housing Tennessee, LLC [Member]
Note
Long-term Debt, Gross	3,917,530	3,917,530
Reven Housing Florida, LLC [Member]
Note
Long-term Debt, Gross	3,526,985	3,526,985
Reven Housing Florida 2, LLC [Member]
Note
Long-term Debt, Gross	$ 4,875,895	$ 4,875,895

NOTES PAYABLE (Details Textual)

NOTES PAYABLE (Details Textual) - USD ($)	Dec. 10, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Oct. 14, 2015	Mar. 13, 2015	Nov. 17, 2014	Jun. 12, 2014
Notes Payable [Line Items]
Interest Expense, Debt		$ 258,157	$ 140,549
Amortization of Financing Costs		30,327	$ 18,126
Accumulated Amortization of Current Deferred Finance Costs		156,019		$ 125,692
Deferred Finance Costs, Current, Gross		$ 606,648		$ 606,648
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 March 31, 2016) 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 March 31, 2016) 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 March 31, 2016) 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 March 31, 2016) 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 AND STOC25

STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION (Details Textual) - USD ($)	1 Months Ended		3 Months Ended
	Feb. 01, 2016	Oct. 16, 2014	Mar. 31, 2016	Mar. 31, 2015	May. 10, 2016	Dec. 31, 2015
Common Stock, Par or Stated Value Per Share			$ 0.001			$ 0.001
Share-based Compensation			$ 113,045	$ 0
Share Price					$ 5
Private Placement [Member]
Warrants To Purchase Common Stock			263,588
Share Price			$ 4
InvestmentWarrantsExpirationDate1			Sep. 27, 2018
Incentive Compensation Plan 2012 [Member]
Common Stock, Par or Stated Value Per Share	$ 5
Share-based Compensation	$ 113,045
Stock Issued During Period, Shares, Issued for Services	22,609	425,000

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic		$ 2,900,000
Federal Tax Loss Carry Forwards Expiration	expire in 2032

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 01, 2016	Mar. 31, 2016	Mar. 31, 2015
Reven Capital, LLC [Member]
Related Party Transaction [Line Items]
Operating Leases, Rent Expense	$ 500
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Operating Leases, Rent Expense		$ 3,000	$ 9,000