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Equity Investments, at Fair Value - Schedule of Equity Investments Accounted under the Equity Method (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value $ 104,242 $ 152,246  
Equity investments | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Fair Value 5,720 0  
Equity investments | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value 37,154 27,500  
Equity investments | Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value $ 147,116 $ 179,746  
Palms at Cape Coral, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 34.00% 34.00%  
Fair Value $ 5,832 $ 5,429  
EHOF-NYMT Sunset Apartments Preferred, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 57.00% 57.00%  
Fair Value $ 19,703 $ 18,139  
Lucie at Tradition Holdings, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 70.00% 70.00%  
Fair Value $ 19,442 $ 17,576  
Syracuse Apartments and Townhomes, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 58.00% 58.00%  
Fair Value $ 21,642 $ 20,115  
Hudson Bridge Apartments, LLC - Series A, Briar Hill Apartments, LLC, Kings Glen Apartments, LLC, Flagstone Apartments, LLC, Brookfield Apartments II, LLC - Series B, and Silber JBSM Properties, LLC (collectively) | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 58.00% 58.00%  
Fair Value $ 9,882 $ 9,277  
Tides on 27th Investors, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 54.00% 0.00%  
Fair Value $ 17,937 $ 0  
Rapid City RMI JV LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 50.00% 0.00%  
Fair Value $ 9,804 $ 0  
America Walks at Port St. Lucie, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 62.00%  
Fair Value $ 0 $ 29,873  
1122 Chicago DE, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 53.00%  
Fair Value $ 0 $ 8,276  
FF/RMI 20 Midtown, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 51.00%  
Fair Value $ 0 $ 27,079  
Bighaus, LLC | Equity investments | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 0.00% 42.00%  
Fair Value $ 0 $ 16,482  
GWR Cedars Partners, LLC | Equity investments | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 70.00% 0.00%  
Fair Value $ 1,897 $ 0  
GWR Gateway Partners, LLC | Equity investments | Joint Venture Equity Investments in Multi-Family Properties      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 70.00% 0.00%  
Fair Value $ 3,823 $ 0  
Constructive Loans, LLC      
Schedule of Equity Method Investments [Line Items]      
Option to purchase issued and outstanding interests, percentage 50.00%    
Purchase of residential loans $ 80,800 $ 260,600 $ 94,000
Constructive Loans, LLC | Equity investments | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 50.00% 0.00%  
Fair Value $ 37,154 $ 27,500