Segment Reporting (Details) (USD $)	3 Months Ended
	Dec. 31, 2014 segment	Dec. 31, 2013	Sep. 30, 2014
Segment Reporting [Abstract]
Number of reportable segments	2
Revenues:
Rental and other revenues from real estate properties	$ 19,481,000	$ 13,807,000
Other income	296,000	271,000
Total revenues	19,777,000	14,078,000
Expenses:
Operating expenses related to real estate properties	10,409,000	7,634,000
Interest expense	6,201,000	4,684,000
Advisor’s fees, related party	584,000	362,000
Property acquisition costs	295,000	1,181,000
General and administrative	1,657,000	1,629,000
Depreciation and amortization	4,158,000	3,190,000
Total expenses	23,304,000	18,680,000
Loss from continuing operations	(3,527,000)	(4,602,000)
Plus net loss attributable to non-controlling interests	1,029,000	1,018,000
Net (loss) income attributable to common shareholders before reconciling items	(2,498,000)	(3,584,000)
Discontinued operations	0	851,000
Net loss attributable to common shareholders	(2,498,000)	(2,733,000)
Total Assets	750,293,000	546,893,000	734,620,000
Assets of discontinued operations	0		2,017,000
Multi-Family Real Estate [Member]
Revenues:
Rental and other revenues from real estate properties	18,161,000	12,607,000
Other income	0
Total revenues	18,161,000	12,607,000
Expenses:
Operating expenses related to real estate properties	9,215,000	6,560,000
Interest expense	4,709,000	3,485,000
Advisor’s fees, related party	485,000	293,000
Property acquisition costs	295,000	1,181,000
General and administrative	1,557,000	1,512,000
Depreciation and amortization	3,502,000	2,764,000
Total expenses	19,763,000	15,795,000
Loss from continuing operations	(1,602,000)	(3,188,000)
Plus net loss attributable to non-controlling interests	197,000	187,000
Net (loss) income attributable to common shareholders before reconciling items		(3,001,000)
Discontinued operations		0
Net loss attributable to common shareholders	(1,405,000)	(3,001,000)
Total Assets	580,309,000	397,618,000
Other Real Estate [Member]
Revenues:
Rental and other revenues from real estate properties	1,320,000	1,200,000
Other income	296,000	271,000
Total revenues	1,616,000	1,471,000
Expenses:
Operating expenses related to real estate properties	1,194,000	1,074,000
Interest expense	1,492,000	1,199,000
Advisor’s fees, related party	99,000	69,000
Property acquisition costs	0
General and administrative	100,000	117,000
Depreciation and amortization	656,000	426,000
Total expenses	3,541,000	2,885,000
Loss from continuing operations	(1,925,000)	(1,414,000)
Plus net loss attributable to non-controlling interests	832,000	831,000
Net (loss) income attributable to common shareholders before reconciling items		(583,000)
Discontinued operations		0
Net loss attributable to common shareholders	(1,093,000)	(583,000)
Total Assets	169,984,000	149,275,000
Loan and Investment [Member]
Expenses:
Assets of discontinued operations		$ 66,678