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Segment Reporting (Details) (USD $)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Segment Reporting Information [Line Items]          
Rental and resident fee income $ 5,033,166   $ 8,997,182    
Interest income 784,030 39,000 1,267,312 39,000  
Property operating expenses 2,749,963   4,957,788    
Asset management and other fees - related party 585,888 4,819 2,751,409 4,819  
Other expenses 2,730,385 15,135 6,241,883 21,223  
Income (loss) from operations (249,040) 19,046 (3,686,586) 12,958  
Equity in earnings (losses) of unconsolidated ventures (296,680) 0 (296,680) 0  
Net income (loss) (545,720) 19,046 (3,983,266) 12,958 (2,569,904)
Total assets 359,849,550   359,849,550   115,839,130
Real Estate Equity
         
Segment Reporting Information [Line Items]          
Rental and resident fee income 5,033,166   8,997,182    
Interest income 0   0    
Property operating expenses 2,749,963   4,957,788    
Asset management and other fees - related party 0   0    
Other expenses 1,530,996   3,672,993    
Income (loss) from operations 752,207   366,401    
Equity in earnings (losses) of unconsolidated ventures     (296,680)    
Net income (loss) 455,527   69,721    
Total assets 168,443,355   168,443,355   57,521,280
Real Estate Debt
         
Segment Reporting Information [Line Items]          
Rental and resident fee income 0   0    
Interest income 784,030 39,000 1,267,312 39,000  
Property operating expenses 0   0    
Asset management and other fees - related party 0 0 0 0  
Other expenses 53,169 0 55,994 0  
Income (loss) from operations 730,861   1,211,318    
Equity in earnings (losses) of unconsolidated ventures 0   0    
Net income (loss) 730,861 39,000 1,211,318 39,000  
Total assets 107,846,580   107,846,580   11,406,597
Corporate
         
Segment Reporting Information [Line Items]          
Rental and resident fee income 0   0    
Interest income 0 0 0 0  
Property operating expenses 0   0    
Asset management and other fees - related party 585,888 4,819 2,751,409 4,819  
Other expenses 1,146,220 15,135 2,512,896 21,223  
Income (loss) from operations (1,732,108)   (5,264,305)    
Equity in earnings (losses) of unconsolidated ventures 0   0    
Net income (loss) (1,732,108) (19,954) (5,264,305) (26,042)  
Total assets $ 83,559,615   $ 83,559,615   $ 46,911,253