Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Real estate held for use:
Land	$ 317,789	$ 322,062
Rental residential properties	1,393,371	1,381,110
Real estate owned	57,279	64,036
Total real estate held for use	1,768,439	1,767,208
Less: accumulated depreciation	(105,716)	(73,655)
Total real estate held for use, net	1,662,723	1,693,553
Real estate assets held for sale	26,850	75,718
Mortgage loans at fair value	9,778	11,477
Cash and cash equivalents	111,644	113,666
Restricted cash	37,095	47,822
Accounts receivable, net	16,180	19,555
Prepaid expenses and other assets	20,791	12,758
Total assets	1,885,061	1,974,549
Liabilities:
Repurchase and loan agreements	1,241,336	1,270,157
Accounts payable and accrued liabilities	59,222	55,639
Payable to AAMC	4,252	4,151
Total liabilities	1,304,810	1,329,947
Commitments and contingencies
Equity:
Common stock, $0.01 par value, 200,000,000 authorized shares; 53,561,803 shares issued and outstanding as of June 30, 2018 and 53,447,950 shares issued and outstanding as of December 31, 2017	536	534
Additional paid-in capital	1,181,873	1,181,327
Accumulated deficit	(602,158)	(537,259)
Total equity	580,251	644,602
Total liabilities and equity	$ 1,885,061	$ 1,974,549