Segment Reporting (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Jun. 06, 2016 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) segment	Jun. 30, 2015 USD ($)	Sep. 30, 2015 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment				2
Revenues:
Rental and other revenues from real estate properties		$ 22,637	$ 19,778	$ 66,866	$ 57,375
Other income		608	12	2,641	64
Total revenues		23,245	19,790	69,507	57,439
Expenses:
Real estate operating expenses		10,944	10,022	32,052	28,602
Interest expense		6,014	4,855	17,594	14,354
Advisor’s fees, related party		0	612	693	1,801
Property Acquisition Costs		1,408	0	2,418	295
General and administrative		2,373	1,654	6,402	5,047
Depreciation		5,871	4,453	16,487	12,655
Total expenses		26,610	21,596	75,646	62,754
Total revenue less total expenses		(3,365)	(1,806)	(6,139)	(5,315)
Gain on sale of real estate		10,263	0	35,098	2,777
Gain on sale of partnership interest	$ 386	386	0	386	0
Net income (loss)		7,284	(3,508)	39,356	(7,421)
Net (income) loss attributable to non-controlling interests		(1,804)	930	(10,974)	1,597
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent		5,480	(1,883)	14,044	(4,069)
Income (loss) from discontinued operations		0	(695)	14,338	(1,755)
Net income (loss) attributable to common shareholders		5,480	(2,578)	28,382	(5,824)
Total Assets		788,121	601,949	788,121	601,949	$ 835,879
Multi-Family Real Estate
Expenses:
Gain on sale of partnership interest				386
Total Assets		757,522	586,648	757,522	586,648
Other Real Estate
Expenses:
Gain on sale of partnership interest				0
Total Assets		30,599	15,301	30,599	15,301
Operating Segments
Revenues:
Rental and other revenues from real estate properties		22,637	19,778	66,866	57,375
Other income		608	12	2,641	64
Total revenues		23,245	19,790	69,507	57,439
Expenses:
Real estate operating expenses		10,944	10,022	32,052	28,602
Interest expense		6,014	4,855	17,594	14,354
Advisor’s fees, related party			612	693	1,801
Property Acquisition Costs		1,408		2,418	295
General and administrative		2,373	1,654	6,402	5,047
Depreciation		5,871	4,453	16,487	12,655
Total expenses		26,610	21,596	75,646	62,754
Total revenue less total expenses		(3,365)		(6,139)	(5,315)
Gain on sale of real estate		10,263		35,098	2,777
Gain on sale of partnership interest				386
Loss on extinguishment of debt				(2,668)
Net income (loss)		7,284	(1,806)	26,677	(2,538)
Net (income) loss attributable to non-controlling interests		(1,804)	930	(10,974)	1,597
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent		5,480	(876)	15,703	(941)
Operating Segments | Multi-Family Real Estate
Revenues:
Rental and other revenues from real estate properties		22,281	19,425	65,836	56,382
Other income		0	0	0	0
Total revenues		22,281	19,425	65,836	56,382
Expenses:
Real estate operating expenses		10,789	9,875	31,604	28,195
Interest expense		5,991	4,652	17,478	14,047
Advisor’s fees, related party			522	593	1,525
Property Acquisition Costs		1,408		2,418	295
General and administrative		2,326	1,571	6,221	4,760
Depreciation		5,844	4,423	16,407	12,567
Total expenses		26,358	21,043	74,721	61,389
Total revenue less total expenses		(4,077)		(8,885)	(5,007)
Gain on sale of real estate		10,263		34,489	2,777
Gain on sale of partnership interest				386
Loss on extinguishment of debt				(2,668)
Net income (loss)		6,572	(1,618)	23,322	(2,230)
Net (income) loss attributable to non-controlling interests		(1,776)	(52)	(12,555)	(1,067)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent		4,796	(1,670)	10,767	(3,297)
Operating Segments | Other Real Estate
Revenues:
Rental and other revenues from real estate properties		356	353	1,030	993
Other income		608	12	2,641	64
Total revenues		964	365	3,671	1,057
Expenses:
Real estate operating expenses		155	147	448	407
Interest expense		23	203	116	307
Advisor’s fees, related party			90	100	276
Property Acquisition Costs		0		0	0
General and administrative		47	83	181	287
Depreciation		27	30	80	88
Total expenses		252	553	925	1,365
Total revenue less total expenses		712		2,746	(308)
Gain on sale of real estate		0		609	0
Gain on sale of partnership interest				0
Loss on extinguishment of debt				0
Net income (loss)		712	(188)	3,355	(308)
Net (income) loss attributable to non-controlling interests		(28)	982	1,581	2,664
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent		684	794	4,936	2,356
Segment Reconciling Items
Expenses:
Income (loss) from discontinued operations		$ 0	$ (1,702)	$ 12,679	$ (4,883)