Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Real estate held for use:
Land	$ 265,129	$ 220,800
Rental residential properties	1,137,343	926,320
Real estate owned	75,568	289,141
Total real estate held for use	1,478,040	1,436,261
Less: accumulated depreciation	(61,192)	(27,541)
Total real estate held for use, net	1,416,848	1,408,720
Real estate assets held for sale	124,405	133,327
Mortgage loans at fair value	67,321	568,480
Cash and cash equivalents	169,941	106,276
Restricted cash	42,191	22,947
Accounts receivable, net	22,130	34,931
Prepaid expenses and other assets	9,382	10,166
Total assets	1,852,218	2,284,847
Liabilities:
Repurchase and loan agreements	1,100,106	1,220,972
Other secured borrowings	0	144,099
Accounts payable and accrued liabilities	58,591	51,442
Related party payables	4,680	5,266
Total liabilities	1,163,377	1,421,779
Commitments and contingencies (Note 7)	0	0
Equity:
Common stock, $0.01 par value, 200,000,000 authorized shares; 53,447,950 shares issued and outstanding as of September 30, 2017 and 53,667,631 shares issued and outstanding as of December 31, 2016	534	537
Additional paid-in capital	1,180,012	1,182,245
Accumulated deficit	(491,705)	(319,714)
Total equity	688,841	863,068
Total liabilities and equity	$ 1,852,218	$ 2,284,847