VARIABLE INTEREST ENTITIES INVESTMENTS IN UNCONSOLIDATED ENTITIES (Details) RSO (USD $)	12 Months Ended				0 Months Ended	12 Months Ended		12 Months Ended				12 Months Ended				12 Months Ended			12 Months Ended		0 Months Ended	12 Months Ended			12 Months Ended				0 Months Ended			12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2012 RSO [Member] trust	Dec. 31, 2011 RSO [Member]	Nov. 16, 2011 RSO [Member] Series B Preferred Stock [Member]	Dec. 31, 2012 RSO [Member] Interest in LCC [Member]	Nov. 16, 2011 RSO [Member] Interest in LCC [Member]	Dec. 31, 2012 RSO [Member] Interest in RCT I and RCT II [Member]	Dec. 31, 2011 RSO [Member] Interest in RCT I and RCT II [Member]	Dec. 31, 2012 RSO [Member] Interest in RCT I [Member]	Dec. 31, 2012 RSO [Member] Interest in RCT II [Member]	Dec. 31, 2012 RSO [Member] RRE VIP Borrower, LLC [Member]	Dec. 31, 2011 RSO [Member] RRE VIP Borrower, LLC [Member]	Jun. 19, 2012 RSO [Member] Varde Investment Partners, LP [Member] Property	Dec. 31, 2012 RSO [Member] Varde Investment Partners, LP [Member]	Dec. 31, 2012 RSO [Member] Resource Real Estate [Member]	Dec. 31, 2011 RSO [Member] Resource Real Estate [Member]	Dec. 01, 2009 RSO [Member] Resource Real Estate [Member] RRE VIP Borrower, LLC [Member]	Dec. 31, 2012 RSO [Member] Varde Investment Partners, LP [Member]	Dec. 31, 2012 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] Interest in RCT I and RCT II [Member]	Jun. 19, 2012 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] Varde Investment Partners, LP [Member]	Dec. 31, 2012 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] RRE VIP Borrower, LLC [Member]	Dec. 31, 2011 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] RRE VIP Borrower, LLC [Member]	Dec. 01, 2009 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] RRE VIP Borrower, LLC [Member]	Dec. 31, 2012 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] RRE VIP Borrower, LLC [Member] Minimum [Member]	Dec. 31, 2012 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] RRE VIP Borrower, LLC [Member] Maximum [Member]	Dec. 31, 2012 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] LEAF [Member]	Dec. 31, 2011 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] LEAF [Member]	Nov. 16, 2011 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] LEAF [Member] Series A Preferred Stock [Member]	Nov. 16, 2011 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] LEAF [Member] Series B Preferred Stock [Member]	Nov. 16, 2011 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] LEAF [Member] Series D Preferred Stock [Member]	Dec. 31, 2012 RSO [Member] Variable Interest Entity, Not Primary Beneficiary [Member] Interest in RCT I and RCT II [Member]	Dec. 31, 2012 Resource Real Estate [Member] Varde Investment Partners, LP [Member]
Schedule of Equity Method Investments [Line Items]
Shares received in equity method transaction (in shares)																													31,341	4,872	2,364
Preferred stock, coupon authorized (in hundredths)					8.00%																						8.00%
Ownership percentage in VIE																					7.50%						26.70%					100.00%
Investments in unconsolidated entities			$ 45,413,000	$ 47,899,000			$ 36,300,000			$ 774,000	$ 774,000	$ 2,300,000	$ 3,600,000						$ 526,000			$ 2,300,000	$ 3,600,000	$ 2,100,000			$ 33,100,000	$ 36,300,000				$ 1,500,000
Loss on transaction						2,200,000
Net income (loss) of equity holdings			3,300,000	0
Ownership percentage																				3.00%
Number of trusts			2
Related party interest expense								2,500,000	3,000,000
Amortization of deferred debt issuance costs								183,000	277,000
Required contribution to joint venture, as a percentage of the total funding required for each asset acquisition on a monthly basis																									3.00%	5.00%
Asset management fees percentage (in hundredths)															1.00%			1.00%
Management fees − related party			18,512,000	11,022,000												45,000	34,000																39,000
Equity in earnings (losses) of unconsolidated entities	$ 3,439,000	$ 10,377,000	$ (2,709,000)	$ 112,000								$ 683,000	$ 112,000						$ (135,000)			$ 683,000	$ 112,000
Number of condominium developments purchased by joint venture														2