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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenues    
Interest income $ 42,591,972 $ 36,743,470
Real estate operating revenue 11,451,914 8,894,991
Prepayment fee income 1,984,061 190,997
Other operating income 586,499 855,799
Total revenues 56,614,446 46,685,257
Operating expenses    
Operating expenses reimbursed to Manager 8,076,321 6,916,371
Asset management fee 6,556,492 5,134,149
Asset servicing fee 1,560,044 1,181,924
Provision for loan losses 11,813,409 10,904,163
Real estate operating expenses 5,005,551 5,003,893
Depreciation and amortization 6,530,595 3,989,114
Impairment charge 1,604,989 3,395,430
Professional fees 3,697,792 1,795,856
Directors fees 192,497 145,000
Other 747,535 448,503
Operating expenses 45,785,225 38,914,403
Operating income 10,829,221 7,770,854
Other income and expenses    
Interest expense from obligations under participation agreements (3,180,771) (10,596,545)
Interest expense on repurchase agreement payable (7,913,942) (142,495)
Interest expense on mortgage loan payable (2,173,114) (2,449,239)
Interest expense on revolving line of credit (2,674,568) (911,811)
Interest expense on term loan payable (524,344) (6,835,877)
Interest expense on unsecured notes payable (6,682,937) (3,173,673)
Interest expense on secured borrowing (1,507,572) (1,576,502)
Net unrealized (losses) gains on marketable securities (122,299) 22,500
Loss on sale of real estate (51,984) 0
Income from equity investment in unconsolidated investments 2,731,477 5,925,802
Gain on sale of interests in unconsolidated investments 799,827 0
Realized loss on loan repayments 0 (517,989)
Gain on extinguishment of obligations under participation agreements 3,435,902 0
Realized gains on marketable securities 83,411 129,248
Total other income and expense (17,780,914) (20,126,581)
Net loss (6,951,693) (12,355,727)
Series A preferred stock dividend declared (15,624) (15,624)
Net loss allocable to common stock $ (6,967,317) $ (12,371,351)
Loss per share — basic (in usd per share) $ (0.34) $ (0.63)
Loss per share — diluted (in usd per share) $ (0.34) $ (0.63)
Weighted-average shares — basic (in shares) 20,709,400 19,487,460
Weighted-average shares — diluted (in shares) 20,709,400 19,487,460
Distributions declared per common share (in usd per share) $ 0.78 $ 0.88