Subsequent Events	9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On October 6, 2014, the Company's Board of Directors authorized cash distributions to the stockholders of record at the close of business each day in the period commencing October 6, 2014 through and including October 30, 2014. The distributions equaled a daily amount of $0.00082192 per share of common stock. Such cash distributions were paid on October 31, 2014. On October 30, 2014, the Company's Board of Directors authorized cash distributions to the stockholders of record at the close of business each day in the period commencing October 31, 2014 through and including November 26, 2014. The distributions will equal a daily amount of $0.00068493 per share of common stock, payable on November 28, 2014. On November 13, 2014, the Company's Board of Directors authorized cash distributions to the stockholders of record at the close of business each day in the period commencing November 27, 2014 through and including January 29, 2015. The distributions will equal a daily amount of $0.00068493 per share of common stock for each day in the period commencing November 27, 2014 through and including November 30, 2014 and $0.00164384 per share of common stock for each day in the period commencing December 1, 2014 through and including January 29, 2015. The Company expects to pay these distributions on December 31, 2014 and January 30, 2015. The Company raised the minimum Ohio offering amount of $20.0 million on October 21, 2014. On November 14, 2014, the Company entered into an agreement of sale to purchase a 300-unit multifamily community located in Centennial, Colorado from an unaffiliated seller for $52.4 million. The Company has evaluated subsequent events and determined that no events have occurred, other than those disclosed above, which would require an adjustment to the consolidated financial statements.

SUBSEQUENT EVENTS

On October 6, 2014, the Company's Board of Directors authorized cash distributions to the stockholders of record at the close of business each day in the period commencing October 6, 2014 through and including October 30, 2014. The distributions equaled a daily amount of $0.00082192 per share of common stock. Such cash distributions were paid on October 31, 2014.

On October 30, 2014, the Company's Board of Directors authorized cash distributions to the stockholders of record at the close of business each day in the period commencing October 31, 2014 through and including November 26, 2014. The distributions will equal a daily amount of $0.00068493 per share of common stock, payable on November 28, 2014.

On November 13, 2014, the Company's Board of Directors authorized cash distributions to the stockholders of record at the close of business each day in the period commencing November 27, 2014 through and including January 29, 2015. The distributions will equal a daily amount of $0.00068493 per share of common stock for each day in the period commencing November 27, 2014 through and including November 30, 2014 and $0.00164384 per share of common stock for each day in the period commencing December 1, 2014 through and including January 29, 2015. The Company expects to pay these distributions on December 31, 2014 and January 30, 2015.

The Company raised the minimum Ohio offering amount of $20.0 million on October 21, 2014.

On November 14, 2014, the Company entered into an agreement of sale to purchase a 300-unit multifamily community located in Centennial, Colorado from an unaffiliated seller for $52.4 million.

The Company has evaluated subsequent events and determined that no events have occurred, other than those disclosed above, which would require an adjustment to the consolidated financial statements.