[RTexasF]

Yes it is a known problem. The 2.4l four cylinder uses oil like there's no tomorrow. If you'll do a little searching here tons of information is available including a possible fix by Toyota.
In 2009 the engine was changed in a positive manner and is currently a 2.5l.

Here are some comments from another site:

http://www.carcomplaints.com/Toyota/RAV4/2007/engine/excessive_oil_consumption.shtml

 

[rav4system]

In the future you should Google vehicles before you buy them...

 

[JuneBug]

Yes, we have many posts on the oil burning 2.4L subject:

http://www.rav4world.com/forums/99-4-3-mechanical/# Start Oil Consumption Test on my 2007 Rav4 2AZ-FE today as per ZE7 extended campaign

Class Action Lawsuit- oil consumption.

Recalls and Oil Consumption Test