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Consolidated Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues [Abstract]        
Interest income $ 9,918,763 $ 9,994,763 $ 26,790,178 $ 29,231,803
Real estate operating income 2,191,178 2,990,919 6,468,519 7,555,065
Prepayment Fees on Advances, Net 190,997 0 190,997 0
Other operating income 345,180 76,736 741,973 417,750
Total 12,646,118 13,062,418 34,191,667 37,204,618
Operating expenses        
Operating expenses reimbursed to Manager 1,528,223 1,719,767 4,878,050 4,781,831
Asset management fee 1,420,119 1,151,166 3,733,358 3,321,125
Asset serving fee 311,127 258,860 861,324 746,384
Provision for loan losses 716,164 42,443 1,565,245 1,356,737
Real estate operating expenses 1,264,501 841,708 3,751,921 2,657,433
Depreciation and amortization 931,725 1,811,266 2,795,173 3,704,254
Professional Fees 535,564 407,444 1,525,915 1,075,303
Directors Fee 36,249 36,250 108,748 153,750
Other 95,775 72,231 299,960 404,882
Total Operating Expenses 6,839,447 6,341,135 19,519,694 18,201,699
Operating Income 5,806,671 6,721,283 14,671,973 19,002,919
Other Income and expense        
Interest expense from obligations under participation agreements (3,278,294) (1,975,269) (7,931,176) (6,358,657)
Interest expense on repurchase agreement payable 0 (706,527) 0 (3,727,466)
Interest expense on mortgage loan payable (573,687) (756,509) (1,916,696) (2,256,898)
Interest expense on revolving line of credit (223,902) (463,333) (404,399) (1,238,311)
Interest expense on term loan payable (1,653,250) (476,411) (4,972,200) (476,411)
Interest expense on unsecured notes payable (1,409,274) 0 (1,746,135) 0
Interest expense on secured borrowing (467,957) (236,632) (1,102,667) (446,745)
Net loss on extinguishment of obligations under participation agreements 0 0 0 (319,453)
Net unrealized losses (gains) on marketable securities (257,329) (38,527) (23,063) 28,995
Income from equity investment in a limited partnership 1,824,825 0 4,563,491 0
Realized loss on loan repayments (517,989) 0 (517,989) 0
Realized gains on marketable securities 22,428 75,055 22,428 1,160,162
Other Nonoperating Income (Expense) (6,534,429) (4,578,153) (14,028,406) (13,634,784)
Net (loss) income (727,758) 2,143,130 643,567 5,368,135
Series A preferred stock dividend declared (3,906) (3,906) (11,718) (11,718)
Net (loss) income allocable to common stock $ (731,664) $ 2,139,224 $ 631,849 $ 5,356,417
(Loss) earnings per share — basic and diluted $ (0.04) $ 0.11 $ 0.03 $ 0.29
Weighted-average shares — basic and diluted 19,487,460 19,487,461 19,487,460 18,586,627
Distributions declared per common share $ 0.2 $ 0.2 $ 0.63 $ 0.96