Reven Housing REIT (RVEN) 10-K 24 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 24, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Reven Housing REIT, Inc.
Entity Central Index Key	1,487,782
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 1,241,179
Trading Symbol	RVEN
Entity Common Stock, Shares Outstanding		10,734,025

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Investments in single-family residential properties:
Land	$ 8,579,550	$ 6,761,350
Buildings and improvements	39,419,038	31,744,657
Investments in real estate, gross	47,998,588	38,506,007
Accumulated depreciation	(2,853,049)	(1,630,873)
Investments in single-family residential properties, net	45,145,539	36,875,134
Cash	10,044,977	2,140,298
Rent and other receivables	246,378	239,928
Escrow deposits	105,500	143,901
Lease origination costs, net	329,395	218,789
Deferred stock issuance costs	0	742,757
Other assets,net	195,020	96,318
Total Assets	56,066,809	40,457,125
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities	1,283,235	1,143,438
Resident security deposits	552,698	435,267
Notes payable, net	19,454,377	19,409,454
Total Liabilities	21,290,310	20,988,159
Commitments and contingencies (Note 10)
Stockholders' Equity
Preferred stock, $.001 par value; 25,000,000 shares authorized; No shares issued or outstanding	0	0
Common stock, $.001 par value; 100,000,000 shares authorized; 10,734,025 and 7,016,796 shares issued and outstanding at December 31, 2016 and 2015, respectively	10,734	7,017
Additional paid-in capital	41,677,465	24,601,295
Accumulated deficit	(6,911,700)	(5,139,346)
Total Stockholders' Equity	34,776,499	19,468,966
Total Liabilities and Stockholders' Equity	$ 56,066,809	$ 40,457,125

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 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	10,734,025	7,016,796
Common stock, shares outstanding	10,734,025	7,016,796

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Revenue:
Rental income	$ 5,648,014	$ 4,934,201
Expenses:
Property operating and maintenance	1,684,431	1,552,051
Real estate taxes	875,641	753,994
Acquisition costs	147,099	375,780
Depreciation and amortization	1,334,555	1,162,312
General and administration	1,921,244	2,060,327
Noncash share-based compensation	425,000	113,045
Total expenses	6,387,970	6,017,509
Operating loss	(739,956)	(1,083,308)
Other income (expenses):
Other income	4,957	31,447
Interest expense	(1,037,355)	(744,000)
Total other income (expenses), net	(1,032,398)	(712,553)
Net loss	$ (1,772,354)	$ (1,795,861)
Net loss per share
(Basic and fully diluted)	$ (0.22)	$ (0.26)
Weighted average number of common shares outstanding	8,197,073	7,016,796

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, 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
Stock issued under share-based compensation plans	113,045	$ 22	113,023	0
Stock issued under share-based compensation plans (in shares)		22,609
Noncash share-based compensation	425,000	$ 0	425,000	0
Proceeds from issuances of shares, net of issuance costs	16,541,842	$ 3,695	16,538,147	0
Proceeds from issuances of shares, net of issuance costs (in shares)		3,694,620
Net loss	(1,772,354)	$ 0	0	(1,772,354)
Balances at Dec. 31, 2016	$ 34,776,499	$ 10,734	$ 41,677,465	$ (6,911,700)
Balances (in shares) at Dec. 31, 2016		10,734,025

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash Flows From Operating Activities:
Net loss	$ (1,772,354)	$ (1,795,861)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,334,555	1,162,312
Noncash share-based compensation	425,000	113,045
Amortization of deferred loan fees	121,308	96,640
Gain on disposal of real estate	0	(26,382)
Changes in operating assets and liabilities:
Rent and other receivables	(6,450)	(82,698)
Property tax and insurance reserves	0	260,123
Other assets	(98,702)	28,463
Accounts payable and accrued liabilities	252,842	312,231
Resident security deposits	117,431	129,263
Net cash provided by operating activities	373,630	197,136
Cash Flows From Investing Activities:
Acquisitions of single-family residential properties	(8,986,000)	(8,843,168)
Capital improvements for single-family residential properties	(506,581)	(323,584)
Proceeds from disposition of single-family residential property	0	69,875
Lease origination costs	(222,985)	(172,690)
Escrow deposits	38,401	(47,418)
Net cash used in investing activities	(9,677,165)	(9,316,985)
Cash Flows From Financing Activities:
Proceeds from issuance of shares	18,473,100	0
Proceeds from notes payable	0	8,402,880
Payments of notes payable	(76,385)	(34,610)
Payment of loan fees	0	(244,052)
Payments of deferred stock issuance costs	(1,188,501)	(207,307)
Net cash provided by financing activities	17,208,214	7,916,911
Net Increase (Decrease) In Cash	7,904,679	(1,202,938)
Cash at the beginning of the year	2,140,298	3,343,236
Cash at the end of the year	10,044,977	2,140,298
Supplemental Disclosure:
Cash paid for interest	912,328	625,421
Noncash deferred stock issuance costs	$ 742,757	$ 0

ORGANIZATION AND OPERATION

ORGANIZATION AND OPERATION	12 Months Ended
	Dec. 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., which along with its wholly-owned subsidiaries, are also referred to herein collectively as the “Company”) which acquires portfolios of occupied and rented single-family residential properties 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, 2016, the Company owned 624 single-family homes in the Houston, Jacksonville, Memphis and Atlanta metropolitan areas.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 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”). 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 Texas 2, 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 accordance 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, escrow deposits, accounts payable and accrued liabilities, and resident 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. The Company accounts for its investments in single-family residential properties as business combinations under the guidance of ASC Topic 805, Business Combinations Building improvements and buildings are depreciated over estimated useful lives of approximately 10 27.5 The Company assesses its investments in single-family residential properties 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 did not recognize any impairment losses for the years ended December 31, 2016 and 2015. The Company maintains its cash at quality financial institutions. The combined account balances at one or more institutions typically exceed the federal insurance coverage and thus there is a concentration of credit risk related to amounts on deposit in excess of available federal 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 December 31, 2016 and 2015. Escrow deposits include refundable and non-refundable cash and earnest money on deposit with third parties for future property purchases. As of December 31, 2016, the Company had offers accepted to purchase single-family residential properties for an aggregate amount of $ 9,047,700 105,500 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 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, 2016, the Company included $ 1,931,258 Security deposits represent amounts deposited by tenants at the inception of the lease. As of December 31, 2016 and 2015, the Company had $ 552,698 435,267 Residential properties are leased to tenants under short term rental agreements of generally one year and revenue is recognized over the lease term on a straight-line basis. The Company has reclassified certain amounts for the fiscal year ended December 31, 2015 to conform to the current year’s presentation. 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, 2016. 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. During the year ended December 31, 2015, the Company did not elect to be taxes as a REIT, but due to significant operating losses and net operating loss carry-forwards, the Company was not subject to federal income tax. Qualification and taxation as a REIT depends upon the Company’s ability to meet the various qualification tests imposed under the Internal Revenue Code related to the percentage of income that are earned from specified sources, the percentage of assets that fall within specified categories, the diversity of capital stock ownership, and the percentage of earnings that are distributed. Accordingly, no assurance can be given that the Company will be organized or be able to operate in a manner 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 shares have been issued under the 2012 plan as of December 31, 2016. During the years ended December 31, 2016 and 2015, the Company recognized $425,000 and $113,045, respectively, of compensation expense under the 2012 Plan. 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 earnings or decrease loss per share. For the years ended December 31, 2016 and 2015, potentially dilutive securities excluded from the calculations were 263,588 shares issuable upon exercise of outstanding warrants granted in prior years. 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. Metropolitan Area 2016 2015 Houston, TX 42 % 32 % Jacksonville, FL 41 % 49 % Memphis, TN 15 % 18 % In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows, Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows, Restricted Cash In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business

INVESTMENTS IN SINGLE-FAMILY RE

INVESTMENTS IN SINGLE-FAMILY RESIDENTIAL PROPERTIES	12 Months Ended
	Dec. 31, 2016
Residential Homes [Abstract]
Residential Homes [Text Block]	NOTE 3. INVESTMENTS IN SINGLE-FAMILY RESIDENTIAL PROPERTIES The following table summarizes the Company’s investments in single-family residential properties. Investments in Investments in Single-Family Single-Family Number Buildings and Residential Accumulated Residential of Homes Land Improvements Properties, Gross Depreciation Properties, Net Total at January 1, 2015 395 $ 5,422,647 $ 23,961,608 $ 29,384,255 $ (592,114) $ 28,792,141 Purchases, improvements, disposition 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 - - 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 Purchases and improvements during 2016: Houston, TX 97 1,818,200 7,240,899 9,059,099 (408,425) 8,650,674 Jacksonville, FL - - 261,453 261,453 (557,805) (296,352) Memphis, TN - - 125,895 125,895 (234,308) (108,413) Atlanta, GA - - 46,134 46,134 (21,638) 24,496 Total at December 31, 2016 624 $ 8,579,550 $ 39,419,038 $ 47,998,588 $ (2,853,049) $ 45,145,539 For the year ended December 31, 2016, the Company included $ 109,088 43,070 147,099 21,721 102,802 For the year ended December 31, 2015, the Company included $ 698,976 366,809 375,780 118,180 161,793 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, 2016 and 2015 prepared as if all of the Company’s acquisitions of properties in 2016 and 2015 had occurred on January 1, 2015. For the Year Ended December 31 2016 2015 Rental income $ 6,745,713 $ 6,579,828 Property operating, maintenance and real estate taxes $ 3,099,440 $ 3,053,996 Depreciation and amortization $ 1,626,395 $ 1,567,162 Net loss $ (1,424,863) $ (1,638,482) Net loss per share, basic and fully diluted $ (0.17) $ (0.23) Weighted average number of common shares outstanding, basic and fully diluted 8,197,073 7,016,796 The unaudited pro forma information for the years ended December 31, 2016 and 2015 has been adjusted to include all acquisition fees and expenses related to the acquisitions as being recorded on January 1, 2015 and additionally to include the additional interest expense relating to the Company’s 2015 borrowings.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES At December 31, 2016 and 2015, accounts payable and accrued liabilities consisted of the following: 2016 2015 Accounts payable $ 248,456 $ 321,815 Real estate taxes payable 667,811 415,124 Accrued compensation, board fees and other 300,500 343,750 Interest payable 66,468 62,749 $ 1,283,235 $ 1,143,438

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 5. NOTES PAYABLE Note 2016 2015 Reven Housing Texas, LLC $ 7,502,504 $ 7,570,000 Reven Housing Tennessee, LLC 3,908,829 3,917,530 Reven Housing Florida, LLC 3,526,794 3,526,985 Reven Housing Florida 2, LLC 4,875,898 4,875,895 19,814,025 19,890,410 Less deferred loan fees, net (359,648) (480,956) Notes payable, net $ 19,454,377 $ 19,409,454 As of December 31, 2016, the notes above incur interest at a rate of 1.00% over the prime rate 4.75 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 deducted from the remaining principal amount owed on the corresponding notes payable. Unamortized deferred loan costs and fees totaled $ 359,648 480,956 During the years ended December 31, 2016 and 2015, the Company incurred $ 1,037,355 744,000 121,308 96,640 2017 $ 321,521 2018 442,776 2019 11,095,495 2020 7,954,233 $ 19,814,025

STOCKHOLDERS_ EQUITY AND STOCK

STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION	12 Months Ended
	Dec. 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 February 1, 2016, the Company issued an aggregate of 22,609 5.00 113,045 The Company filed a registration statement on Form S-11 with the Security Exchange Commission (“SEC”) for the offer of a minimum of 3,000,000 5,000,000 5.00 3,694,620 18,473,100 1,931,258 On October 16, 2014, the Company issued 425,000 106,250 425,000 318,750 The Company has outstanding warrants that allow holders to purchase up to 263,588 4.00 September 27, 2018

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 7. INCOME TAXES The Company intends to elect REIT status effective for the year ended December 31, 2016. The Company would then generally not be subject to income taxes assuming it complied with the specific distribution rules applicable to REITs. 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 election of REIT status commencing in 2016, is not expected to realize any future tax benefits from the current years; or prior years’ operating losses. 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, 2016 and 2015. At December 31, 2015 the Company had federal and state net operating loss carry-forwards of approximately $ 2,600,000 Pursuant to Internal Revenue Code Section 382, use of the Company’s net operating loss carry-forwards may be limited if a cumulative change in ownership of more than 50% occurs within a three-year period. Management believes that such an ownership change had occurred but has not yet performed a study of the limitations on the net operating losses.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 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 36,000

RENTAL INCOME

RENTAL INCOME	12 Months Ended
	Dec. 31, 2016
Lease Income [Abstract]
Lease Income [Text Block]	NOTE 9. RENTAL INCOME 2017 $ 2,804,126 2018 1,103,683 2019 31,025 $ 3,938,834

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 10. COMMITMENTS AND CONTINGENCIES Legal and Regulatory The Company is subject to potential liability under laws and government regulations and various claims and legal actions arising in the ordinary course of the Company’s business. Liabilities are established for legal claims when payments associated with the claims become probable and the costs can be reasonably estimated. The actual costs of resolving legal claims may be substantially higher or lower than the amounts established for those claims. Based on information currently available, management is not aware of any legal or regulatory claims that would have a material effect on the Company’s consolidated financial statements and, therefore, no accrual has been recorded as of the years ended December 31, 2016 and 2015. Operating Lease On December 21, 2015, the Company entered into a new office lease agreement. The lease term is 64 2017 $ 65,728 2018 81,279 2019 83,717 2020 86,229 2021 36,881 $ 353,834

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11. SUBSEQUENT EVENTS Note Payable On January 31, 2017, Reven Housing Texas 2, LLC, a wholly owned subsidiary of the Company, received loan proceeds and issued a promissory note in the principal amount of $5,020,000 to a bank, secured by deeds of trust encumbering certain of the Company’s homes located in Houston. The entire balance of principal and accrued interest is due and payable on January 31, 2022. The note provides for monthly principal and interest payments of $31,759 at a fixed rate of 4.5% per annum. Proceeds of the note payable will be utilized primarily for future single-family home acquisitions. Recent Real Estate Investment Acquisition On March 15, 2017, a wholly owned subsidiary of the Company purchased a portfolio of 38 single-family homes, located in the Atlanta, Georgia metropolitan area for approximately $2,663,000 not including closing and acquisition costs. Purchase and Sale Agreement On February 16, 2017, a wholly owned subsidiary of the Company entered into a purchase and sale agreement to purchase a portfolio of 27 single- family homes, located in the Memphis, Tennessee metropolitan area for approximately $2,140,000. However, it is not yet known if any of these properties are certain to be acquired because properties may fall out of escrow through the closing process for various reasons.

BASIS OF PRESENTATION AND SIG18

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 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”).
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 Texas 2, 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 accordance 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, escrow deposits, accounts payable and accrued liabilities, and resident 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.
Property Acquisitions [Policy Text Block]	Investments in Single-Family Residential Properties The Company accounts for its investments in single-family residential properties as business combinations under the guidance of ASC Topic 805, Business Combinations Building improvements and buildings are depreciated over estimated useful lives of approximately 10 27.5 The Company assesses its investments in single-family residential properties 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 did not recognize any impairment losses for the years ended December 31, 2016 and 2015.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash The Company maintains its cash at quality financial institutions. The combined account balances at one or more institutions typically exceed the federal insurance coverage and thus there is a concentration of credit risk related to amounts on deposit in excess of available federal 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 December 31, 2016 and 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 December 31, 2016, the Company had offers accepted to purchase single-family residential properties for an aggregate amount of $ 9,047,700 105,500
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 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, 2016, the Company included $ 1,931,258
Security Deposits [Policy Text Block]	Security Deposits Security deposits represent amounts deposited by tenants at the inception of the lease. As of December 31, 2016 and 2015, the Company had $ 552,698 435,267
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Residential properties are leased to tenants under short term rental agreements of generally one year and revenue is recognized over the lease term on a straight-line basis.
Reclassification, Policy [Policy Text Block]	Reclassifications The Company has reclassified certain amounts for the fiscal year ended December 31, 2015 to conform to the current year’s presentation.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company intends to elect to be taxed as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code, commencing with the taxable year ended December 31, 2016. 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. During the year ended December 31, 2015, the Company did not elect to be taxes as a REIT, but due to significant operating losses and net operating loss carry-forwards, the Company was not subject to federal income tax. Qualification and taxation as a REIT depends upon the Company’s ability to meet the various qualification tests imposed under the Internal Revenue Code related to the percentage of income that are earned from specified sources, the percentage of assets that fall within specified categories, the diversity of capital stock ownership, and the percentage of earnings that are distributed. Accordingly, no assurance can be given that the Company will be organized or be able to operate in a manner 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 shares have been issued under the 2012 plan as of December 31, 2016. During the years ended December 31, 2016 and 2015, the Company recognized $425,000 and $113,045, respectively, of compensation expense under the 2012 Plan.
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 earnings or decrease loss per share. For the years ended December 31, 2016 and 2015, potentially dilutive securities excluded from the calculations were 263,588 shares issuable upon exercise of outstanding warrants granted in prior years.
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.
Geographic Concentration [Policy Text Block]	Geographic Concentration Metropolitan Area 2016 2015 Houston, TX 42 % 32 % Jacksonville, FL 41 % 49 % Memphis, TN 15 % 18 %
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows, Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows, Restricted Cash In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business

BASIS OF PRESENTATION AND SIG19

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The Company holds concentrations of single-family residential properties in the following metropolitan areas in excess of 10% of our total portfolio as of December 31, 2016 and 2015, and as such the Company is more vulnerable to any adverse macroeconomic developments in such areas: Metropolitan Area 2016 2015 Houston, TX 42 % 32 % Jacksonville, FL 41 % 49 % Memphis, TN 15 % 18 %

INVESTMENTS IN SINGLE-FAMILY 20

INVESTMENTS IN SINGLE-FAMILY RESIDENTIAL PROPERTIES (Tables)	12 Months Ended
	Dec. 31, 2016
Residential Homes [Abstract]
Schedule of Real Estate Properties [Table Text Block]	The homes are generally leased to individual tenants under leases with terms of one year or less. Investments in Investments in Single-Family Single-Family Number Buildings and Residential Accumulated Residential of Homes Land Improvements Properties, Gross Depreciation Properties, Net Total at January 1, 2015 395 $ 5,422,647 $ 23,961,608 $ 29,384,255 $ (592,114) $ 28,792,141 Purchases, improvements, disposition 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 - - 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 Purchases and improvements during 2016: Houston, TX 97 1,818,200 7,240,899 9,059,099 (408,425) 8,650,674 Jacksonville, FL - - 261,453 261,453 (557,805) (296,352) Memphis, TN - - 125,895 125,895 (234,308) (108,413) Atlanta, GA - - 46,134 46,134 (21,638) 24,496 Total at December 31, 2016 624 $ 8,579,550 $ 39,419,038 $ 47,998,588 $ (2,853,049) $ 45,145,539
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 2016 2015 Rental income $ 6,745,713 $ 6,579,828 Property operating, maintenance and real estate taxes $ 3,099,440 $ 3,053,996 Depreciation and amortization $ 1,626,395 $ 1,567,162 Net loss $ (1,424,863) $ (1,638,482) Net loss per share, basic and fully diluted $ (0.17) $ (0.23) Weighted average number of common shares outstanding, basic and fully diluted 8,197,073 7,016,796

ACCOUNTS PAYABLE AND ACCRUED 21

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	At December 31, 2016 and 2015, accounts payable and accrued liabilities consisted of the following: 2016 2015 Accounts payable $ 248,456 $ 321,815 Real estate taxes payable 667,811 415,124 Accrued compensation, board fees and other 300,500 343,750 Interest payable 66,468 62,749 $ 1,283,235 $ 1,143,438

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	A summary of the Company’s notes payable as of December 31, 2016 and December 31, 2015 is as follows: Note 2016 2015 Reven Housing Texas, LLC $ 7,502,504 $ 7,570,000 Reven Housing Tennessee, LLC 3,908,829 3,917,530 Reven Housing Florida, LLC 3,526,794 3,526,985 Reven Housing Florida 2, LLC 4,875,898 4,875,895 19,814,025 19,890,410 Less deferred loan fees, net (359,648) (480,956) Notes payable, net $ 19,454,377 $ 19,409,454
Schedule of Long-term Debt Instruments [Table Text Block]	The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of December 31, 2016: 2017 $ 321,521 2018 442,776 2019 11,095,495 2020 7,954,233 $ 19,814,025

RENTAL INCOME (Tables)

RENTAL INCOME (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016 are expected to be as follows: 2017 $ 2,804,126 2018 1,103,683 2019 31,025 $ 3,938,834

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
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: 2017 $ 65,728 2018 81,279 2019 83,717 2020 86,229 2021 36,881 $ 353,834

BASIS OF PRESENTATION AND SIG25

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - Assets, Total [Member]	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Houston, TX [Member]
Concentration Risk, Percentage	42.00%	32.00%
Jacksonville, FL [Member]
Concentration Risk, Percentage	41.00%	49.00%
Memphis, TN [Member]
Concentration Risk, Percentage	15.00%	18.00%

BASIS OF PRESENTATION AND SIG26

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2012
Accounting Policies [Line Items]
Deferred Offering Costs	$ 0	$ 742,757
Security Deposit	552,698	$ 435,267
Earnest Money Deposits	105,500
Offers Accepted to Purchase Residential Properties, Aggregate Amount	9,047,700
Additional Paid-in Capital [Member]
Accounting Policies [Line Items]
Deferred Offering Costs	$ 1,931,258
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 SINGLE-FAMILY 27

INVESTMENTS IN SINGLE-FAMILY RESIDENTIAL PROPERTIES (Details)	Dec. 31, 2016USD ($)Number	Dec. 31, 2015USD ($)Number	Dec. 31, 2014USD ($)	Dec. 31, 2014Number	Dec. 31, 2014
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes	624	527		395	395
Land	$ 8,579,550	$ 6,761,350	$ 5,422,647
Buildings and Improvements	39,419,038	31,744,657	23,961,608
Investments in Single-Family Residential Properties, Gross	47,998,588	38,506,007	29,384,255
Accumulated Depreciation	(2,853,049)	(1,630,873)	(592,114)
Investments in Single-Family Residential Properties, Net	$ 45,145,539	$ 36,875,134	$ 28,792,141
Houston, TX [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	97	0
Land	$ 1,818,200	$ 0
Buildings and Improvements	7,240,899	34,938
Investments in Single-Family Residential Properties, Gross	9,059,099	34,938
Accumulated Depreciation	(408,425)	(380,630)
Investments in Single-Family Residential Properties, Net	$ 8,650,674	$ (345,692)
Jacksonville, FL [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0	133
Land	$ 0	$ 1,345,453
Buildings and Improvements	261,453	7,723,661
Investments in Single-Family Residential Properties, Gross	261,453	9,069,114
Accumulated Depreciation	(557,805)	(415,172)
Investments in Single-Family Residential Properties, Net	$ (296,352)	$ 8,653,942
Memphis, TN [Member]
RESIDENTIAL HOMES, NET [Line Items]
Number of Homes | Number	0	0
Land	$ 0	$ 0
Buildings and Improvements	125,895	60,550
Investments in Single-Family Residential Properties, Gross	125,895	60,550
Accumulated Depreciation	(234,308)	(226,188)
Investments in Single-Family Residential Properties, Net	$ (108,413)	$ (165,638)
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	46,134	2,150
Investments in Single-Family Residential Properties, Gross	46,134	2,150
Accumulated Depreciation	(21,638)	(18,276)
Investments in Single-Family Residential Properties, Net	$ 24,496	$ (16,126)

INVESTMENTS IN SINGLE-FAMILY 28

INVESTMENTS IN SINGLE-FAMILY RESIDENTIAL PROPERTIES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
RESIDENTIAL HOMES, NET [Line Items]
Rental income	$ 5,648,014	$ 4,934,201
Property operating, maintenance and real estate taxes	1,684,431	1,552,051
Depreciation and amortization	1,334,555	1,162,312
Net loss	$ (1,772,354)	$ (1,795,861)
Net loss per share, basic and fully diluted	$ (0.22)	$ (0.26)
Weighted average number of common shares outstanding, basic and fully diluted	8,197,073	7,016,796
Pro Forma [Member] | Real Estate Investment [Member]
RESIDENTIAL HOMES, NET [Line Items]
Rental income	$ 6,745,713	$ 6,579,828
Property operating, maintenance and real estate taxes	3,099,440	3,053,996
Depreciation and amortization	1,626,395	1,567,162
Net loss	$ (1,424,863)	$ (1,638,482)
Net loss per share, basic and fully diluted	$ (0.17)	$ (0.23)
Weighted average number of common shares outstanding, basic and fully diluted	8,197,073	7,016,796

INVESTMENTS IN SINGLE-FAMILY 29

INVESTMENTS IN SINGLE-FAMILY RESIDENTIAL PROPERTIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Rental Income	$ 5,648,014	$ 4,934,201
Cost of Property Repairs and Maintenance	1,684,431	1,552,051
Depreciation, Depletion and Amortization, Nonproduction	1,334,555	1,162,312
Net Income (Loss) Attributable to Parent, Total	(1,772,354)	(1,795,861)
Acquisition-related Costs [Member]
Rental Income	109,088	698,976
Cost of Property Repairs and Maintenance	43,070	366,809
Acquisition Costs, Period Cost	147,099	375,780
Depreciation, Depletion and Amortization, Nonproduction	21,721	118,180
Net Income (Loss) Attributable to Parent, Total	$ 102,802	$ 161,793

ACCOUNTS PAYABLE AND ACCRUED 30

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Accounts Payable And Accrued Expenses [Line Items]
Accounts payable	$ 248,456	$ 321,815
Real estate taxes payable	667,811	415,124
Accrued compensation, board fees and other	300,500	343,750
Interest payable	66,468	62,749
Accounts payable and accrued liabilities	$ 1,283,235	$ 1,143,438

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Note
Notes Payable, Total	$ 19,814,025	$ 19,890,410
Less deferred loan fees, net	(359,648)	(480,956)
Notes payable, net	19,454,377	19,409,454
Reven Housing Texas, LLC [Member]
Note
Notes Payable, Total	7,502,504	7,570,000
Reven Housing Tennessee, LLC [Member]
Note
Notes Payable, Total	3,908,829	3,917,530
Reven Housing Florida, LLC [Member]
Note
Notes Payable, Total	3,526,794	3,526,985
Reven Housing Florida 2, LLC [Member]
Note
Notes Payable, Total	$ 4,875,898	$ 4,875,895

NOTES PAYABLE (Details 1)

NOTES PAYABLE (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2,017	$ 321,521
2,018	442,776
2,019	11,095,495
2,020	7,954,233
Notes Payable, Total	$ 19,814,025	$ 19,890,410

NOTES PAYABLE (Details Textual)

NOTES PAYABLE (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Notes Payable [Line Items]
Interest Expense, Debt	$ 1,037,355	$ 744,000
Amortization of Financing Costs	121,308	96,640
Debt Issuance Costs, Net	$ 359,648	480,956
Notes Payable [Member]
Notes Payable [Line Items]
Debt Instrument, Interest Rate Terms	interest at a rate of 1.00% over the prime rate
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Debt Issuance Costs, Net	$ 359,648	$ 480,956

STOCKHOLDERS_ EQUITY AND STOC34

STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION (Details Textual) - USD ($)	Feb. 01, 2016	Oct. 16, 2014	Dec. 31, 2016	Dec. 31, 2015	May 10, 2016
STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION [Line Items]
Share Price					$ 5
Proceeds from Issuance of Common Stock			$ 18,473,100	$ 0
Sale of Stock, Number of Shares Issued in Transaction			3,694,620
Payments of Stock Issuance Costs			$ 1,188,501	207,307
Incentive Compensation Plan 2012 [Member]
STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION [Line Items]
Warrants To Purchase Common Stock	5
Stock Issued During Period, Shares, Issued for Services	22,609		425,000
Accrued Bonuses				$ 113,045
Allocated Share-based Compensation Expense		$ 425,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares			106,250
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares			318,750
Maximum [Member]
STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION [Line Items]
Common Stock, Offered to Public					5,000,000
Minimum [Member]
STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION [Line Items]
Common Stock, Offered to Public					3,000,000
Private Placement [Member]
STOCKHOLDERS’ EQUITY AND STOCK COMPENSATION [Line Items]
Warrants To Purchase Common Stock			263,588
Share Price			$ 4
Investment Warrants Expiration Date			Sep. 27, 2018

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic		$ 2,600,000
Federal Tax Loss Carry Forwards Expiration	expire in 2032

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
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	$ 36,000
Operating Leases, Rent Expense, Sublease Rentals	$ 5,500

RENTAL INCOME (Details)

RENTAL INCOME (Details)	Dec. 31, 2016USD ($)
LEASE INCOME [Line Items]
2,017	$ 2,804,126
2,018	1,103,683
2,019	31,025
Operating Leases, Future Minimum Payments Receivable, Total	$ 3,938,834

COMMITMENTS AND CONTINGENCIES38

COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2016USD ($)
Operating Leased Assets [Line Items]
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	$ 353,834

COMMITMENTS AND CONTINGENCIES39

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 21, 2015	Dec. 31, 2016
Other Commitments [Line Items]
Operating Lease Maturity Term	64 months
Operating Leases, Rent Expense		$ 500
General and Administrative Expense [Member]
Other Commitments [Line Items]
Operating Leases, Rent Expense		$ 57,600

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - Subsequent Event [Member] - USD ($)	Mar. 15, 2017	Feb. 16, 2017	Jan. 31, 2017
Atlanta [Member]
Subsequent Event [Line Items]
Payments to Acquire Real Estate	$ 2,663,000
Memphis [Member]
Subsequent Event [Line Items]
Payments to Acquire Real Estate		$ 2,140,000
Promissory Note [Member]
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.50%
Debt Instrument, Face Amount			$ 5,020,000
Debt Instrument, Maturity Date			Jan. 31, 2022
Debt Instrument, Periodic Payment			$ 31,759