USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Condensed Consolidated Balance Sheets (Details) - USD ($)		Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Cash, cash equivalents and restricted cash		$ 100,518,930	$ 47,366,365	$ 47,189,254	$ 18,279,052
Accrued interest receivable	[1]	5,939,175	5,797,991
Investment related receivable	[1]	488,578	0
Loans held for investment, net of allowance for credit losses	[1]	1,016,463,672	1,071,889,518
Total assets	[1]	1,126,423,468	1,127,965,537
Accrued interest payable	[1]	2,504,909	2,360,809
Collateralized loan obligations	[1]	829,933,826	829,310,498
Total liabilities	[1]	885,576,229	884,964,040
Equity	[1]	240,747,739	242,901,997
Total liabilities and equity	[1]	1,126,423,468	1,127,965,537
LFT CRE 2021-FL1, Ltd.
Variable Interest Entity [Line Items]
Cash, cash equivalents and restricted cash		1,946,370	3,507,850
Accrued interest receivable		5,848,895	5,488,118
Investment related receivable		488,578	0
Loans held for investment, net of allowance for credit losses		994,280,018	996,511,403
Total assets		1,002,563,861	1,005,507,371
Accrued interest payable		2,408,745	2,264,646
Collateralized loan obligations		829,933,826	829,310,498
Total liabilities		832,342,571	831,575,144
Equity		170,221,290	173,932,227
Total liabilities and equity		$ 1,002,563,861	$ 1,005,507,371

[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 March 31, 2023 and December 31, 2022, assets of consolidated VIEs totaled $1,002,563,861 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $832,342,571 and $831,575,144 respectively. See Note 4 for further discussion.