SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

Date of Report: November 24, 1997



                      APPLE RESIDENTIAL INCOME TRUST, INC.
             (Exact name of registrant as specified in its charter)


VIRGINIA                   333-10635                  54-1816010
 (State of                 (Commission                (IRS Employer
incorporation)             File Number)               Identification No.)


306 EAST MAIN STREET
RICHMOND, VIRGINIA                                              23219
(Address of principal                                          (Zip Code)
 executive offices)



               Registrant's telephone number, including area code:
                                 (804) 643-1761


<PAGE>



                      APPLE RESIDENTIAL INCOME TRUST, INC.

                                    FORM 8-K

                                      Index



Item 2.       Acquisition or Disposition of Assets

Item 7.       Financial Statements, Pro Forma Financial Information and Exhibits

         a.   Independent Auditors' Report
              (Copper Crossing Apartments)*

              Historical Statement of Income and
              Direct Operating Expenses
              (Copper Crossing Apartments)*

              Note to Historical Statement of
              Income and Direct Operating
              Expenses (Copper Crossing Apartments)*

         b.   Pro Forma  Statement of  Operations  for the Nine Months ended
              September 30, 1997 (unaudited)*

              Pro Forma Balance Sheet as of
              September 30, 1997 (unaudited)*

              Pro Forma Statement of Operations
              for the Year ended December 31, 1996
              (unaudited)*

         c.   Exhibits

              10.1     Purchase Contract for Copper Crossing Apartments

              10.2     Property Management Agreement for Copper Crossing
                       Apartments

              23.1     Consent of Independent Auditors*


                                       -2-


-----------------------
* To be filed by amendment.

<PAGE>



         Item 2.  Acquisition or Disposition of Assets


         On November  24,  1997,  Apple  Residential  Income  Trust,  Inc.  (the
"Company")  purchased the Copper Crossing  Apartments  located at 5644 Riverwalk
Drive in Fort Worth, Texas (The "Property").

         The Property  comprises 200 apartment units. The purchase price for the
Property was $4,750,000. The seller was Copper Crossing Investors, Ltd., a Texas
limited partnership which is not affiliated with the Company,  Apple Residential
Advisors,  Inc. or their  Affiliates.  The entire  purchase price was paid using
proceeds  from the sale of shares.  Title to the  Property  was  conveyed to the
Company by limited warranty deed.

         Location.  The Property is located off of  Bryant-Irvin  in Fort Worth,
Texas,  in  Tarrant  County,  which  is part of the  greater  Dallas/Fort  Worth
Consolidated  Metropolitan  Statistical  Area, or as it is called locally,  "The
Metroplex." The following information is based in part upon information provided
by the Dallas Chamber of Commerce.

         The Dallas/Fort Worth Metroplex is in the  north-central  part of Texas
and is composed of nine  counties.  The 1996  population  of The  Metroplex  was
approximately 4,400,000.  Dallas is the second largest city in the state, behind
Houston.

         The economy of the Dallas/Fort  Worth area is complex and  diversified.
Key economic factors include a large  manufacturing  base (including as products
military hardware,  electronics,  automobiles,  industrial equipment,  oil-field
parts,   food   products   and   chemicals),    banking,   insurance   services,
communications,  oil and gas production and air transportation.  Major employers
in the area include Texas Instruments, Southwestern Bell, General Motors, J.C.
Penney, NationsBank and Vought Aircraft Company.

         The  Metroplex  is also an  established  transportation  center for the
nation.  The Dallas/Fort  Worth  International  Airport  occupies  approximately
17,800  acres of land  between  the two  cities.  It is the  largest  commercial
airport in the United  States in terms of land area,  and is the fourth  busiest
airport in the world, with 1,700 daily arrivals and departures.

         The area also has a well-established  system of interstate highways and
supporting  secondary routes. The Metroplex is located at the hub of Interstates
35,45,  20 and 30. Two outer loops,  Interstate 635 in Dallas and Interstate 820
in Fort Worth, surround the respective cities.

         The many  institutions of higher learning in the area include  Southern
Methodist University, the University of Texas at Dallas, the University of Texas
at Arlington, the University of North Texas, and Texas Christian University.

                                       -3-




<PAGE>



         The  immediate  area   surrounding  the  Property   consists  of  other
multi-family,  single-family, commercial and retail development. The Property is
located near  restaurants,  businesses,  schools,  and churches,  and is readily
accessible  from  Interstate 20,  Highway 183 and Interstate  820, which are the
major highways in the area.

         The  Property  is close to Hulen  Mall,  a major  regional  mall.  This
regional mall has spurred  significant  construction  and  corresponding  retail
growth  in the  Hulen  Mall/Benbrook  area.  The  Property  is an  approximately
30-minute  drive  from  the  Dallas/Fort   Worth   International   Airport,   an
approximately 15-minutes drive from the Fort Worth central business district and
an approximately 30-minute drive from the Dallas central business district.

         Description of the Property.  The Property consists of 200 garden-style
apartment units in 13 two-story  buildings on  approximately  6.9 acres of land.
The Property was constructed in 1981.

         The Property  offers four different unit types.  The unit mix and rents
currently being charged new tenants as of November, 1997 are as follows:


                                                Approximate
                                                Interior
Quantity                 Type                Square Footage       Monthly Rental


    56      One bedroom/one bathroom               563                   $385
    40      One bedroom/one bathroom               663                    410
    32      One bedroom/one bathroom               745                    450
    72      Two bedrooms/two bathrooms             915                    540


         The apartments provide a total of approximately  148,000 square feet of
net rental area.


         The  Company  believes  that  the  Property  has  generally  been  well
maintained and is in good  condition.  According to the seller,  in the past two
years the seller spent over $400,000 in capital  improvements to the exterior of
the  Property,  including  new roofs,  exterior  rehabilitation,  and repair and
replacement of awnings.

         The Company has budgeted  approximately $100,000 for additional capital
improvements  to  the  Property.   These  improvements  will  include  clubhouse
renovations and upgrading the landscaping at the Property.  In addition,  at the
time that the Company  acquired the Property there were 12 apartment units which
had been damaged by fire.  These damaged  apartment  units are  currently  being
repaired and are all expected to be available for  occupancy by April 1998.  All
costs of the repair are being  funded with the  proceeds  of  Property  casualty
insurance.

                                       -4-




<PAGE>



         Leases at the  Property  are  generally  for terms of one year or less.
Average  rental rates for the past five years have both increased and decreased.
As an example,  a  one-bedroom,  one- bathroom  apartment unit (563 square feet)
rented for $289 in 1992,  $300 in 1993,  $299 in 1994, $315 in 1995, and $345 in
1996.  The average  effective  annual rental per square foot at the Property for
1992,  1993,  1994,  1995,  1996, was $5.53,  $5.74,  $5.72,  $6.03,  and $6.60,
respectively.

         The buildings are wood-frame  construction  with a combination of brick
veneer masonite  hardboard on reinforced  concrete slab  foundations.  Roofs are
sloped fiberglass shingled on plywood.

         The Property has an outdoor  swimming pool with a large deck, a fitness
center, a laundry facility,  a sand volleyball court and picnic areas.  There is
also a clubhouse  which  includes an  entertainment  area and a leasing  office.
There is ample paved parking for the tenants.

         All apartment units have wall-to-wall carpeting in the living areas and
vinyl floors in the kitchen and bath. Each apartment unit has a cable television
hook-up and an individually  controlled  heating and air conditioning unit. Each
kitchen  is  equipped  with a  refrigerator/freezer,  electric  range  and oven,
dishwasher  and  garbage  disposal.   Each  apartment  unit  has  a  woodburning
fireplace,  a screened porch or balcony,  ceiling fans, mini blinds and vertical
blinds.  The  largest  one-bedroom  units  and  the  two-bedroom  units  include
full-sized  washer/dryer  connections.  The owner of the Property  pays for cold
water, gas usage for hot water, sewer service and trash removal. Tenants pay for
their own electricity service, which includes cooking, lighting, heating and air
conditioning.

         There are at least five  apartment  properties  that  compete  with the
Property.  All  offer  similar  amenities  and  generally  have  rents  that are
comparable to those of the Property.  Based on a recent  telephone  survey,  the
Advisor estimates that occupancy in the nearby competing properties now averages
approximately 94%.

         According to information provided by the Seller,  physical occupancy at
the Property  averaged  approximately 85% in 1992, 87% in 1993, 96% in 1994, 95%
in 1995,  94% in 1996,  and 93%  during  the  first six  months  of 1997.  As of
November  24, 1997,  the  Property was 91 % occupied,  counting as vacant the 12
units recently  damaged by fire. Of the 188 units available for rental,  182, or
96% of 188,  were  rented as of  November  24,  1997.  The  tenants are a mix of
white-collar workers, blue-collar workers, students and retired persons.



                                       -5-




<PAGE>

         The following  table sets forth the 1996 real estate tax information of
the Property:

                       Assessed
Jurisdiction             Value               Rate              Tax
------------             -----               ----              ---

County of Tarrant        $3,300,000       $2.01160           $66,382.67
City of Benbrook          3,300,000        0.78500            25,905.00
          Total                                              $92,287.67


         The basis of the depreciable  residential  real property portion of the
Property (currently estimated at about $2,698,000) will be depreciated over 27.5
years on a straight-line  basis. The basis of the personal property portion will
be depreciated in accordance with the modified  accelerated cost recovery system
of the Code. Amounts to be spent by the Company on repairs and improvements will
be treated for tax  purposes as permitted by the Code based on the nature of the
expenditures.

         The  Advisor  and the  Company  believe  that the  Property is and will
continue to be adequately covered by property and liability insurance.

         Material Factors Considered  in  Assessing the Property.    The factors
considered  by the Advisor and the  Company to be  relevant  in  evaluating  the
Property for acquisition by the Company included the following:

         1. The Dallas/Fort  Worth area generally and the specific area in which
the Property is located  were  perceived  as being  characterized  by a diverse,
stable and steadily  growing  economy.  Accordingly,  it was believed  that such
economy  and  its  anticipated  growth  and  development  would  support  stable
occupancy rates and reasonable increases in rents at the Property.

         2.  Based  upon an  engineering  report  and its own  inspections,  the
Advisor  believes that the Property has been well maintained and is generally in
good  condition,  although  the Advisor  believes  that the planned  repairs and
improvements will allow an increase in rents at the Property.

         3. The Property is  strategically  located in the "Hulen  Mall/Benbrook
area," which is one of the most commercially active areas in the Metroplex.

         Acquisition  and  Management  Services and Fees.  In  consideration  of
services   rendered  to  the  Company  in  connection  with  the  selection  and
acquisition  of the  Property,  the Company will pay  Cornerstone  Realty Income
Trust, Inc., a property acquisition fee equal to 2% of the purchase price of the
Property,  or $95,000.  Cornerstone  Realty  Income  Trust,  Inc.  will serve as
property  manager  for the  Property  and for its  services  will be paid by the
Company  a monthly  management  fee  equal to 5% of the  gross  revenues  of the
Property plus reimbursement of certain expenses.




                                       -6-




<PAGE>




                                   ITEM 7.a.*




----------
* To be filed by amendment.  It is  impracticable to include herein the required
financial statements for the Property. The required financial statements will be
filed as an amendment  to this report as soon as possible,  but in no event more
than 60 days after the date of filing of this report.




                                       -7-




<PAGE>



                                   ITEM 7.b.*




----------
* To be filed by amendment.  It is  impracticable to include herein the required
pro forma financial  information.  The required pro forma financial  information
will be filed as an  amendment  to this  report as soon as  possible,  but in no
event more than 60 days after the date of filing of this report.

                                       -8-




<PAGE>





                                   SIGNATURES
                                   ----------


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                            Apple Residential Income Trust, Inc.


Date: December 8, 1997                                  By: /s/ Glade M. Knight
                                                            --------------------
                                                            Glade M. Knight
                                                            President
                                                            of Apple Residential
                                                            Income Trust, Inc.

                                       -9-




<PAGE>


                                  EXHIBIT INDEX

                      Apple Residential Income Trust, Inc.
                        Form 8-K dated November 24, 1997


Exhibit Number         Exhibit                                       Page Number
--------------         -------                                       -----------

         10.1          Purchase Contract for Copper Crossing
                       Apartments

         10.2          Property Management Agreement
                       for Copper Crossing Apartments

         23.1          Consent of Independent Auditors*




* To be filed by amendment.












                                      -10-
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{"company-data": {"conformed-name": "APPLE RESIDENTIAL INCOME TRUST INC", "cik": "0001021351", "assigned-sic": "6798", "irs-number": "541816010", "state-of-incorporation": "VA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-10635", "film-number": "97734150"}, "business-address": {"street1": "306 EAST MAIN STREET", "city": "RICHMOND", "state": "VA", "zip": "23219", "phone": "8046431761"}, "mail-address": {"street1": "306 EAST MAIN STREET", "city": "RICHMOND", "state": "VA", "zip": "23219"}}
SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

Date of Report: November 24, 1997

                      APPLE RESIDENTIAL INCOME TRUST, INC.
             (Exact name of registrant as specified in its charter)

VIRGINIA                   333-10635                  54-1816010
 (State of                 (Commission                (IRS Employer
incorporation)             File Number)               Identification No.)

306 EAST MAIN STREET
RICHMOND, VIRGINIA                                              23219
(Address of principal                                          (Zip Code)
 executive offices)

               Registrant's telephone number, including area code:
                                 (804) 643-1761
APPLE RESIDENTIAL INCOME TRUST, INC.

                                    FORM 8-K

                                      Index

Item 2.       Acquisition or Disposition of Assets

Item 7.       Financial Statements, Pro Forma Financial Information and Exhibits

         a.   Independent Auditors' Report
              (Copper Crossing Apartments)*

              Historical Statement of Income and
              Direct Operating Expenses
              (Copper Crossing Apartments)*

              Note to Historical Statement of
              Income and Direct Operating
              Expenses (Copper Crossing Apartments)*

         b.   Pro Forma  Statement of  Operations  for the Nine Months ended
              September 30, 1997 (unaudited)*

              Pro Forma Balance Sheet as of
              September 30, 1997 (unaudited)*

              Pro Forma Statement of Operations
              for the Year ended December 31, 1996
              (unaudited)*

         c.   Exhibits

              10.1     Purchase Contract for Copper Crossing Apartments

              10.2     Property Management Agreement for Copper Crossing
                       Apartments

              23.1     Consent of Independent Auditors*

                                       -2-

-----------------------
* To be filed by amendment.
Item 2.  Acquisition or Disposition of Assets

         On November  24,  1997,  Apple  Residential  Income  Trust,  Inc.  (the
"Company")  purchased the Copper Crossing  Apartments  located at 5644 Riverwalk
Drive in Fort Worth, Texas (The "Property").

         The Property  comprises 200 apartment units. The purchase price for the
Property was $4,750,000. The seller was Copper Crossing Investors, Ltd., a Texas
limited partnership which is not affiliated with the Company,  Apple Residential
Advisors,  Inc. or their  Affiliates.  The entire  purchase price was paid using
proceeds  from the sale of shares.  Title to the  Property  was  conveyed to the
Company by limited warranty deed.

         Location.  The Property is located off of  Bryant-Irvin  in Fort Worth,
Texas,  in  Tarrant  County,  which  is part of the  greater  Dallas/Fort  Worth
Consolidated  Metropolitan  Statistical  Area, or as it is called locally,  "The
Metroplex." The following information is based in part upon information provided
by the Dallas Chamber of Commerce.

         The Dallas/Fort Worth Metroplex is in the  north-central  part of Texas
and is composed of nine  counties.  The 1996  population  of The  Metroplex  was
approximately 4,400,000.  Dallas is the second largest city in the state, behind
Houston.

         The economy of the Dallas/Fort  Worth area is complex and  diversified.
Key economic factors include a large  manufacturing  base (including as products
military hardware,  electronics,  automobiles,  industrial equipment,  oil-field
parts,   food   products   and   chemicals),    banking,   insurance   services,
communications,  oil and gas production and air transportation.  Major employers
in the area include Texas Instruments, Southwestern Bell, General Motors, J.C.
Penney, NationsBank and Vought Aircraft Company.

         The  Metroplex  is also an  established  transportation  center for the
nation.  The Dallas/Fort  Worth  International  Airport  occupies  approximately
17,800  acres of land  between  the two  cities.  It is the  largest  commercial
airport in the United  States in terms of land area,  and is the fourth  busiest
airport in the world, with 1,700 daily arrivals and departures.

         The area also has a well-established  system of interstate highways and
supporting  secondary routes. The Metroplex is located at the hub of Interstates
35,45,  20 and 30. Two outer loops,  Interstate 635 in Dallas and Interstate 820
in Fort Worth, surround the respective cities.

         The many  institutions of higher learning in the area include  Southern
Methodist University, the University of Texas at Dallas, the University of Texas
at Arlington, the University of North Texas, and Texas Christian University.

                                       -3-
The  immediate  area   surrounding  the  Property   consists  of  other
multi-family,  single-family, commercial and retail development. The Property is
located near  restaurants,  businesses,  schools,  and churches,  and is readily
accessible  from  Interstate 20,  Highway 183 and Interstate  820, which are the
major highways in the area.

         The  Property  is close to Hulen  Mall,  a major  regional  mall.  This
regional mall has spurred  significant  construction  and  corresponding  retail
growth  in the  Hulen  Mall/Benbrook  area.  The  Property  is an  approximately
30-minute  drive  from  the  Dallas/Fort   Worth   International   Airport,   an
approximately 15-minutes drive from the Fort Worth central business district and
an approximately 30-minute drive from the Dallas central business district.

         Description of the Property.  The Property consists of 200 garden-style
apartment units in 13 two-story  buildings on  approximately  6.9 acres of land.
The Property was constructed in 1981.

         The Property  offers four different unit types.  The unit mix and rents
currently being charged new tenants as of November, 1997 are as follows:

                                                Approximate
                                                Interior
Quantity                 Type                Square Footage       Monthly Rental

    56      One bedroom/one bathroom               563                   $385
    40      One bedroom/one bathroom               663                    410
    32      One bedroom/one bathroom               745                    450
    72      Two bedrooms/two bathrooms             915                    540

         The apartments provide a total of approximately  148,000 square feet of
net rental area.

         The  Company  believes  that  the  Property  has  generally  been  well
maintained and is in good  condition.  According to the seller,  in the past two
years the seller spent over $400,000 in capital  improvements to the exterior of
the  Property,  including  new roofs,  exterior  rehabilitation,  and repair and
replacement of awnings.

         The Company has budgeted  approximately $100,000 for additional capital
improvements  to  the  Property.   These  improvements  will  include  clubhouse
renovations and upgrading the landscaping at the Property.  In addition,  at the
time that the Company  acquired the Property there were 12 apartment units which
had been damaged by fire.  These damaged  apartment  units are  currently  being
repaired and are all expected to be available for  occupancy by April 1998.  All
costs of the repair are being  funded with the  proceeds  of  Property  casualty
insurance.

                                       -4-
Leases at the  Property  are  generally  for terms of one year or less.
Average  rental rates for the past five years have both increased and decreased.
As an example,  a  one-bedroom,  one- bathroom  apartment unit (563 square feet)
rented for $289 in 1992,  $300 in 1993,  $299 in 1994, $315 in 1995, and $345 in
1996.  The average  effective  annual rental per square foot at the Property for
1992,  1993,  1994,  1995,  1996, was $5.53,  $5.74,  $5.72,  $6.03,  and $6.60,
respectively.

         The buildings are wood-frame  construction  with a combination of brick
veneer masonite  hardboard on reinforced  concrete slab  foundations.  Roofs are
sloped fiberglass shingled on plywood.

         The Property has an outdoor  swimming pool with a large deck, a fitness
center, a laundry facility,  a sand volleyball court and picnic areas.  There is
also a clubhouse  which  includes an  entertainment  area and a leasing  office.
There is ample paved parking for the tenants.

         All apartment units have wall-to-wall carpeting in the living areas and
vinyl floors in the kitchen and bath. Each apartment unit has a cable television
hook-up and an individually  controlled  heating and air conditioning unit. Each
kitchen  is  equipped  with a  refrigerator/freezer,  electric  range  and oven,
dishwasher  and  garbage  disposal.   Each  apartment  unit  has  a  woodburning
fireplace,  a screened porch or balcony,  ceiling fans, mini blinds and vertical
blinds.  The  largest  one-bedroom  units  and  the  two-bedroom  units  include
full-sized  washer/dryer  connections.  The owner of the Property  pays for cold
water, gas usage for hot water, sewer service and trash removal. Tenants pay for
their own electricity service, which includes cooking, lighting, heating and air
conditioning.

         There are at least five  apartment  properties  that  compete  with the
Property.  All  offer  similar  amenities  and  generally  have  rents  that are
comparable to those of the Property.  Based on a recent  telephone  survey,  the
Advisor estimates that occupancy in the nearby competing properties now averages
approximately 94%.

         According to information provided by the Seller,  physical occupancy at
the Property  averaged  approximately 85% in 1992, 87% in 1993, 96% in 1994, 95%
in 1995,  94% in 1996,  and 93%  during  the  first six  months  of 1997.  As of
November  24, 1997,  the  Property was 91 % occupied,  counting as vacant the 12
units recently  damaged by fire. Of the 188 units available for rental,  182, or
96% of 188,  were  rented as of  November  24,  1997.  The  tenants are a mix of
white-collar workers, blue-collar workers, students and retired persons.

                                       -5-
The following  table sets forth the 1996 real estate tax information of
the Property:

                       Assessed
Jurisdiction             Value               Rate              Tax
------------             -----               ----              ---

County of Tarrant        $3,300,000       $2.01160           $66,382.67
City of Benbrook          3,300,000        0.78500            25,905.00
          Total                                              $92,287.67

         The basis of the depreciable  residential  real property portion of the
Property (currently estimated at about $2,698,000) will be depreciated over 27.5
years on a straight-line  basis. The basis of the personal property portion will
be depreciated in accordance with the modified  accelerated cost recovery system
of the Code. Amounts to be spent by the Company on repairs and improvements will
be treated for tax  purposes as permitted by the Code based on the nature of the
expenditures.

         The  Advisor  and the  Company  believe  that the  Property is and will
continue to be adequately covered by property and liability insurance.

         Material Factors Considered  in  Assessing the Property.    The factors
considered  by the Advisor and the  Company to be  relevant  in  evaluating  the
Property for acquisition by the Company included the following:

         1. The Dallas/Fort  Worth area generally and the specific area in which
the Property is located  were  perceived  as being  characterized  by a diverse,
stable and steadily  growing  economy.  Accordingly,  it was believed  that such
economy  and  its  anticipated  growth  and  development  would  support  stable
occupancy rates and reasonable increases in rents at the Property.

         2.  Based  upon an  engineering  report  and its own  inspections,  the
Advisor  believes that the Property has been well maintained and is generally in
good  condition,  although  the Advisor  believes  that the planned  repairs and
improvements will allow an increase in rents at the Property.

         3. The Property is  strategically  located in the "Hulen  Mall/Benbrook
area," which is one of the most commercially active areas in the Metroplex.

         Acquisition  and  Management  Services and Fees.  In  consideration  of
services   rendered  to  the  Company  in  connection  with  the  selection  and
acquisition  of the  Property,  the Company will pay  Cornerstone  Realty Income
Trust, Inc., a property acquisition fee equal to 2% of the purchase price of the
Property,  or $95,000.  Cornerstone  Realty  Income  Trust,  Inc.  will serve as
property  manager  for the  Property  and for its  services  will be paid by the
Company  a monthly  management  fee  equal to 5% of the  gross  revenues  of the
Property plus reimbursement of certain expenses.

                                       -6-
ITEM 7.a.*

----------
* To be filed by amendment.  It is  impracticable to include herein the required
financial statements for the Property. The required financial statements will be
filed as an amendment  to this report as soon as possible,  but in no event more
than 60 days after the date of filing of this report.

                                       -7-
ITEM 7.b.*

----------
* To be filed by amendment.  It is  impracticable to include herein the required
pro forma financial  information.  The required pro forma financial  information
will be filed as an  amendment  to this  report as soon as  possible,  but in no
event more than 60 days after the date of filing of this report.

                                       -8-
SIGNATURES
                                   ----------

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                            Apple Residential Income Trust, Inc.

Date: December 8, 1997                                  By: /s/ Glade M. Knight
                                                            --------------------
                                                            Glade M. Knight
                                                            President
                                                            of Apple Residential
                                                            Income Trust, Inc.

                                       -9-
EXHIBIT INDEX

                      Apple Residential Income Trust, Inc.
                        Form 8-K dated November 24, 1997

Exhibit Number         Exhibit                                       Page Number
--------------         -------                                       -----------

         10.1          Purchase Contract for Copper Crossing
                       Apartments

         10.2          Property Management Agreement
                       for Copper Crossing Apartments

         23.1          Consent of Independent Auditors*

* To be filed by amendment.

                                      -10-