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Condensed Consolidated Statements of Operations (Q2) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
Revenues:            
Rental income $ 5,896,266 $ 4,383,966 $ 11,781,711 $ 7,841,944    
Expenses:            
Fees to affiliates (Note 8) 812,019 477,915 1,624,037 879,230 $ 2,843,810 $ 1,188,083
General and administrative 853,940 836,996 1,393,445 1,449,183 2,570,529 3,742,896
Depreciation and amortization 2,391,495 1,712,469 4,782,991 3,026,745 6,988,925 3,081,554
Interest expense 2,076,725 1,203,260 4,237,075 2,293,876 5,577,828 1,637,984
Property expenses 1,111,936 701,244 2,174,588 1,194,222 3,185,629 1,282,759
Total expenses 7,246,115 4,931,884 14,212,136 8,843,256 21,166,721 10,933,276
Less: Expenses reimbursed by Sponsor or affiliates (Note 8) (148,233) (293,939) (236,232) (653,453) (1,136,469) (2,468,138)
Net expenses 7,097,882 4,637,945 13,975,904 8,189,803 20,030,252 8,465,138
Other income:            
Interest income 5,645 4,244 11,031 7,920 17,879 7,215
Income from investments in unconsolidated entities, net 55,955 38,606 129,988 93,485 226,024 199,233
Total other income 61,600 42,850 141,019 101,405 243,903 206,448
Net loss $ (1,140,016) $ (211,129) $ (2,053,174) $ (246,454) $ (1,801,724) $ (868,484)
Net loss per share, basic and diluted ( in USD per share ) $ (0.08) $ (0.02) $ (0.14) $ (0.02) $ (0.16) $ (0.15)
Weighted-average number of common shares outstanding, basic and diluted ( in shares ) 14,846,259 10,603,387 14,218,770 10,054,089 11,069,864 5,982,930
Dividends declared per common share ( in USD per share ) $ 0.176 $ 0.176 $ 0.352 $ 0.41 $ 0.7035 $ 0.7