New Post: R home not found by R.NET on OSX

I am running through the example tutorials of R.NET documentation. I am using xamarin studio and installed the most up to date R.NET package. I have the following lines from the tutorial:

                                                                                                                                                                                                     Console.WriteLine ("Hello World!");

REngine.SetEnvironmentVariables ();
REngine engine = REngine.GetInstance ();

I get the following error:
Directory for R_HOME does not exist

I got the directory path and tried:
REngine.SetEnvironmentVariables ("//usr//local/Cellar//r//3.1.1//R.framework//Resources");

This didn't fix the issue? What could be going wrong here. Googling was not helpful. Thank you for your assistance.