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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)
Dec. 31, 2018
Aug. 20, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash and Cash Equivalents [Line Items]        
Cash and cash equivalents $ 7,882,862   $ 34,347,339  
Restricted cash 51,330,950   11,275,263  
Total cash, cash equivalents and restricted cash 59,213,812   45,622,602 $ 37,889,596
Restricted cash CRE 2017-FL1, Ltd.        
Cash and Cash Equivalents [Line Items]        
Restricted cash 24,085,890   0  
Restricted cash CRE 2018-FL2, Ltd.        
Cash and Cash Equivalents [Line Items]        
Cash and cash equivalents   $ 59,700,000    
Restricted cash 27,245,060   0  
Repurchase counterparties as restricted collateral        
Cash and Cash Equivalents [Line Items]        
Restricted cash $ 0   $ 11,275,263