SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)				3 Months Ended	12 Months Ended
		Feb. 22, 2022 shares	May 05, 2021 shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) mortgageLoan loan sub-servicer $ / shares shares	Dec. 31, 2022 USD ($) mortgageLoan $ / shares shares	Mar. 31, 2023 USD ($)	Jan. 01, 2023 USD ($) $ / shares	Feb. 14, 2019 USD ($)	Jan. 15, 2019 USD ($)	Dec. 15, 2015 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Accumulated earnings	[1]				$ 47,373,908	$ 31,250,852
Number of commercial real estate loans included in loan performance analytical model | loan					100,000
Reserve for impaired loan					$ 4,300,000	4,300,000
Number of sub-servers | sub-servicer					2
Principal amount					$ 47,750,000	$ 47,750,000
Common stock, shares authorized (in shares) | shares					450,000,000	450,000,000
Common stock, par value (in dollars per share) | $ / shares					$ 0.01	$ 0.01
Common stock, shares issued (in shares) | shares					52,248,631	52,231,152
Common stock, shares outstanding (in shares) | shares					52,248,631	52,231,152
Stock repurchase program, authorized amount											$ 10,000,000
Preferred stock, shares authorized (in shares) | shares					50,000,000	50,000,000
Preferred stock, par value (in dollars per share) | $ / shares					$ 0.01	$ 0.01
Preferred stock, shares issued (in shares) | shares					2,400,000	2,400,000
Preferred stock, dividend rate (percentage)					7.875%	7.875%
Preferred stock, shares outstanding (in shares) | shares					2,400,000	2,400,000
Cost Recovery Method
Debt and Equity Securities, FV-NI [Line Items]
Number of non accrual loans | loan					1
Impaired unpaid principal value					$ 8,900,000
Cash Basis Method
Debt and Equity Securities, FV-NI [Line Items]
Number of non accrual loans | loan					1
Impaired unpaid principal value					$ 36,800,000
Cumulative Effect, Period of Adoption, Adjustment
Debt and Equity Securities, FV-NI [Line Items]
Share price (in dollars per share) | $ / shares								$ 0.07
Commercial Real Estate Portfolio Segment
Debt and Equity Securities, FV-NI [Line Items]
Loan Count | mortgageLoan					88	71
Accounting Standards Update 2016-13
Debt and Equity Securities, FV-NI [Line Items]
Accumulated earnings							$ 3,600,000	$ (3,600,000)
Accounting Standards Update 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Debt and Equity Securities, FV-NI [Line Items]
Accumulated earnings								$ (3,591,440)
Common Stock
Debt and Equity Securities, FV-NI [Line Items]
Issuance of common stock (in shares) | shares		27,277,269
Redeemable Preferred Stock
Debt and Equity Securities, FV-NI [Line Items]
Preferred stock, shares authorized (in shares) | shares					50,000,000	50,000,000
Preferred stock, par value (in dollars per share) | $ / shares					$ 0.01	$ 0.01
Preferred stock, shares issued (in shares) | shares			2,400,000		2,400,000	2,400,000
Preferred stock, dividend rate (percentage)			7.875%
Preferred stock, shares outstanding (in shares) | shares					2,400,000	2,400,000
Delayed Draw Facility | Credit Agreement
Debt and Equity Securities, FV-NI [Line Items]
Principal amount					$ 47,750,000				$ 40,250,000	$ 40,250,000
Other Operating Expenses
Debt and Equity Securities, FV-NI [Line Items]
Reclassification of deferred financing costs of other assets to other operating expenses				$ 1,684,618
Collateralized Loan Obligations
Debt and Equity Securities, FV-NI [Line Items]
Maximum exposure to loss from consolidated trusts					$ 234,850,000	$ 166,250,000

[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 December 31, 2023 and December 31, 2022, assets of the consolidated VIEs totaled $1,384,136,334 and $1,005,507,371, respectively and the liabilities of consolidated VIEs totaled $1,150,207,290 and $831,575,144, respectively. See Note 4 for further discussion.