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(LOSS) EARNINGS PER SHARE - Schedule of Computation of EPS (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Numerator - Basic:        
Net (loss) income $ (1,047,736) $ (6,905,242) $ 4,851,323 $ (6,854,210)
Less: net loss (income) attributable to noncontrolling interests in Operating Partnership 274,646 1,368,896 (388,349) 1,600,254
Preferred stock dividends (921,875) (921,875) (2,765,625) (2,765,625)
Net (loss) income attributable to common stockholders 1,694,965 6,458,221 (1,697,349) 8,019,581
Numerator - Diluted:        
Net (loss) income (1,047,736) (6,905,242) 4,851,323 (6,854,210)
Preferred stock dividends (921,875) (921,875) (2,765,625) (2,765,625)
Net (loss) income attributable to common stockholders and noncontrolling interests $ (1,969,611) $ (7,827,117) $ 2,085,698 $ (9,619,835)
Denominator:        
Weighted average shares outstanding - basic (in shares) 9,430,885 7,548,052 9,151,287 7,537,505
Class C OP Units (in shares) 1,528,145 1,599,898 2,093,793 1,504,059
Weighted-average number of common shares outstanding - diluted (in shares) 10,959,030 9,147,950 11,245,080 9,041,564
(loss) earnings per share attributable to common stockholders, basic (in usd per share) $ (0.18) $ (0.86) $ 0.19 $ (1.06)
(loss) earnings per share attributable to common stockholders and noncontrolling interests, diluted (in usd per share) $ (0.18) $ (0.86) $ 0.19 $ (1.06)