USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Condensed Consolidated Balance Sheets (Details) - USD ($)		Jun. 30, 2022		Mar. 31, 2022	Dec. 31, 2021		Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Cash, cash equivalents and restricted cash		$ 48,707,286			$ 18,279,052		$ 344,837,673		$ 69,375,356
Accrued interest receivable	[1]	3,589,187			3,977,752
Investment related receivable	[1]	7,624,400			22,400,000
Total assets	[1]	1,130,311,822			1,048,923,353
Accrued interest payable	[1]	1,108,536			704,055
Collateralized loan obligations	[1]	828,036,131			826,782,543
Total liabilities	[1]	882,215,758			879,547,853
Equity		248,096,064	[1]	$ 249,080,843	169,375,500	[1]	$ 170,237,010	$ 114,266,068	$ 113,703,152
Total liabilities and equity	[1]	1,130,311,822			1,048,923,353
LFT CRE 2021-FL1, Ltd.
Variable Interest Entity [Line Items]
Cash, cash equivalents and restricted cash		9,659,031			3,530,006
Accrued interest receivable		3,313,989			3,941,695
Investment related receivable		7,624,400			22,400,000
Loans held for investment, net of allowance for loan losses		982,610,078			974,025,294
Total assets		1,003,207,498			1,003,896,995
Accrued interest payable		1,021,988			607,892
Collateralized loan obligations		828,036,131			826,782,543
Total liabilities		829,058,119			827,390,435
Equity		174,149,379			176,506,560
Total liabilities and equity		$ 1,003,207,498			$ 1,003,896,995

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of June 30, 2022 and December 31, 2021, assets of consolidated VIEs totaled $1,003,207,498 and $1,003,896,995, respectively and the liabilities of consolidated VIEs totaled $829,058,119 and $827,390,435 respectively. See Note 4 for further discussion.