SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2025

Accounting Policies [Abstract]

Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the statement of cash flows:

	September 30, 2025		December 31, 2024
Cash and cash equivalents	$	56,022,352	$	69,173,444
Restricted cash 2021-FL1 CLO(1)	$	666,573	$	234,229
Restricted cash LMF 2023-1 Financing(2)	$	157,071	$	2,156,425
Total cash, cash equivalents and restricted cash	$	56,845,996	$	71,564,098

(1)    Includes $426,089 due to LREC as special servicer for our REO properties

(2)    Includes $157,071 due to LREC as special servicer for our REO properties