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SINGLE-FAMILY RENTAL PROPERTIES (Tables)
 3 Months Ended
Mar. 31, 2023
Real Estate [Abstract]  
Schedule of Single-Family Rental Properties The following table summarizes the net carrying value of investments in SFR properties:
March 31, 2023December 31, 2022
Land$175,607 $175,607 
Building702,427 702,427 
Capital improvements123,606 118,999 
Total gross investment in SFR properties1,001,640 997,033 
Accumulated depreciation(32,653)(25,720)
Investment in SFR properties, net$968,987 $971,313 
Schedule of Activity in Single-Family Rental Properties
The following table summarizes the activity related to the net carrying value of investments in SFR properties:
SFR Properties Held-for-InvestmentSFR Properties Held-for-SaleTotal
Balance at December 31, 2022$971,313 $— $971,313 
Acquisitions and capital improvements4,607 — 4,607 
Dispositions— — — 
Reclassifications to SFR properties(9,747)9,747 — 
Write-offs— — — 
Accumulated depreciation(6,913)(20)(6,933)
Balance at March 31, 2023$959,260 $9,727 $968,987 
The following table summarizes the activity of the SFR portfolio by units:
SFR Properties Held-for-InvestmentSFR Properties Held-for-SaleTotal
Balance at December 31, 20223,731 — 3,731 
Acquisition of SFR units— — — 
Transfer to held-for-sale(30)30 — 
Disposition of SFR units— — — 
Balance at March 31, 20233,701 30 3,731 
Schedule of Future Minimum Rental Revenues The following table summarizes our future minimum rental revenues under existing leases on SFR properties:
Remainder of 2023$51,605 
2024 and thereafter10,566 
Total$62,171