Modiv (MDV) S-4/A 18 Oct 19 Registration of securities issued in business combination transactions (amended) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2019
Cover [Abstract]
Entity Registrant Name	RW HOLDINGS NNN REIT, INC.
Entity Central Index Key	0001645873
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Document Type	S-4/A
Amendment Flag	false
Document Period End Date	Jun. 30, 2019

Consolidated Balance Sheets (FY

Consolidated Balance Sheets (FY) - USD ($)	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real estate investments:
Land	$ 41,126,392		$ 41,126,392			$ 21,878,768
Building and improvements	176,367,798		176,367,798			108,590,813
Tenant origination and absorption costs	17,717,819		17,717,819			8,340,774
Total investments in real estate property	235,212,009		235,212,009			138,810,355
Accumulated depreciation and amortization	(15,346,655)		(10,563,664)			(3,574,739)	$ (493,185)
Total investments in real estate property, net	219,865,354		224,648,345			135,235,616
Investments in unconsolidated entities (Note 5)	13,987,073		14,275,815			14,524,022
Total investments in real estate property, net	233,852,427		238,924,160			149,759,638
Cash and cash equivalents	10,635,254		5,252,686			3,238,173
Restricted cash	156,046		3,503,242			944,582
Tenant receivables	4,146,339		3,659,114			1,263,095
Above-market lease intangibles, net	535,725		584,248			681,293
Due from affiliates (Note 8)	4,236		16,838			34,194
Purchase and other deposits	200,000		100,000			40,000
Prepaid expenses and other assets	577,619		234,399			1,104,573
Interest rate swap derivatives	0		151,215			7,899
Total assets	250,107,646		252,425,902			157,073,447
Liabilities and Stockholders' Equity
Mortgage notes payable, net	115,032,981		122,709,308			60,487,303
Unsecured credit facility, net	0		8,998,000			12,000,000
Accounts payable, accrued and other liabilities	4,264,232		7,164,713			2,411,484
Share repurchases payable	822,829		584,676			386,839
Below-market lease intangibles, net	2,358,186		2,595,382			1,584,229
Due to affiliates (Note 8)	30,282		979,174			907,377
Interest rate swap derivatives	1,023,730		300,929			0
Total liabilities	123,532,240		143,332,182			77,777,232
Commitments and contingencies (Note 9)	0
Redeemable common stock	5,762,798		6,000,951			46,349
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding	0		0			0
Additional paid-in-capital	144,011,702		119,247,245			85,324,921
Cumulative distributions and net losses	(23,214,573)		(16,167,437)			(6,083,896)
Total stockholders' equity	120,812,608	$ 113,287,570	103,092,769	$ 93,781,564	$ 85,300,468	79,249,866	$ 22,231,106
Total liabilities and stockholders' equity	250,107,646		252,425,902			157,073,447
Common Class C
Liabilities and Stockholders' Equity
Common stock, value, issued	15,313		12,943			8,838
Common Class S
Liabilities and Stockholders' Equity
Common stock, value, issued	$ 166		$ 18			$ 3

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (FY) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 11, 2017	Jul. 15, 2015
Preferred Stock (In USD Per Share)	$ 0.001	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized (In Shares)	50,000,000	50,000,000	50,000,000
Preferred Stock, Shares Issued (In Shares)	0	0	0
Preferred Stock, Shares Outstanding (In Shares)	0	0	0
Common Stock ( In USD Per Share)		$ 0.001
Common Class C
Common Stock ( In USD Per Share)	$ 0.001	$ 0.001	$ 0.001
Common Stock, Shares Authorized (In Shares)	300,000,000	300,000,000	200,000,000
Common Stock, Shares, Issued (In Shares)	15,313,171	12,943,294	8,838,002
Common Stock, Shares, Outstanding (In Shares)	15,313,171	12,943,294	8,838,002
Common Class S
Common Stock ( In USD Per Share)	$ 0.001	$ 0.001	$ 0.001
Common Stock, Shares Authorized (In Shares)	100,000,000	100,000,000	100,000,000	100,000,000	10,000,000
Common Stock, Shares, Issued (In Shares)	166,448	17,594	3,032
Common Stock, Shares, Outstanding (In Shares)	166,448	17,594	3,032

Consolidated Statements of Oper

Consolidated Statements of Operations (FY) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Rental income	$ 14,726,046	$ 6,140,444
Tenant reimbursements	3,258,579	1,249,762
Total revenues	17,984,625	7,390,206
Expenses:
Fees to affiliates (Note 8)	2,843,810	1,188,083
General and administrative	2,570,529	3,742,896
Depreciation and amortization	6,988,925	3,081,554
Interest expense (Note 6)	5,577,828	1,637,984
Property expenses	3,185,629	1,282,759
Total expenses	21,166,721	10,933,276
Less: Expenses reimbursed/fees waived by Sponsor or affiliates (Note 8)	(1,136,469)	(2,468,138)
Net expenses	20,030,252	8,465,138
Other income:
Interest income	17,879	7,215
Income from investments in unconsolidated entities (Note 5)	226,024	199,233
Total other income	243,903	206,448
Net loss	$ (1,801,724)	$ (868,484)
Net loss per common share, basic and diluted (in USD per share)	$ (0.16)	$ (0.15)
Weighted-average number of shares of common stock outstanding, basic and diluted (in shares)	11,069,864	5,982,930

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (FY) - USD ($)	Total	Common Class S	Common StockCommon Class C	Common StockCommon Class S	Additional Paid-in Capital	Cumulative Distributions and Net Losses
Balance (in shares) at Dec. 31, 2016			2,458,881
Balance at Dec. 31, 2016	$ 22,231,106		$ 2,458		$ 23,643,435	$ (1,414,787)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)			6,617,457	3,032
Issuance of common stock	66,204,898		$ 6,617	$ 3	66,198,278
Stock compensation expense (in shares)			16,300
Stock compensation expense	163,000		$ 16		162,984
Offering costs	(1,988,397)				(1,988,397)
Reclassification to redeemable common stock	(219,061)				(219,061)
Redemption of common stock ( In shares)			(254,636)
Repurchases of common stock	(2,472,571)		$ (253)		(2,472,318)
Distributions declared	(3,800,625)					(3,800,625)
Net loss	(868,484)					(868,484)
Balance (in shares) at Dec. 31, 2017			8,838,002	3,032
Balance at Dec. 31, 2017	79,249,866		$ 8,838	$ 3	85,324,921	(6,083,896)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)			2,710,514	66
Issuance of common stock	27,220,462		$ 2,711		27,217,751
Stock compensation expense (in shares)			8,100
Stock compensation expense	81,405		$ 8		81,397
Offering costs	(816,297)				(816,297)
Distributions declared	(4,037,688)					(4,037,688)
Net loss	(246,454)					(246,454)
Balance (in shares) at Jun. 30, 2018			11,182,489	3,098
Balance at Jun. 30, 2018	93,781,564		$ 11,183	$ 3	104,138,416	(10,368,038)
Balance (in shares) at Dec. 31, 2017			8,838,002	3,032
Balance at Dec. 31, 2017	79,249,866		$ 8,838	$ 3	85,324,921	(6,083,896)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)		17,588	4,972,792	14,562
Issuance of common stock	50,101,989		$ 4,972	$ 15	50,097,002
Stock compensation expense (in shares)			16,700
Stock compensation expense	167,835		$ 17		167,818
Offering costs	(1,502,462)				(1,502,462)
Reclassification to redeemable common stock	(6,152,439)				(6,152,439)
Redemption of common stock ( In shares)			(884,200)
Repurchases of common stock	(8,688,479)		$ (884)		(8,687,595)
Distributions declared	(8,281,817)					(8,281,817)
Net loss	(1,801,724)					(1,801,724)
Balance (in shares) at Dec. 31, 2018			12,943,294	17,594
Balance at Dec. 31, 2018	103,092,769		$ 12,943	$ 18	119,247,245	(16,167,437)
Balance (in shares) at Mar. 31, 2018			10,098,354	3,065
Balance at Mar. 31, 2018	85,300,468		$ 10,087	$ 3	93,582,794	(8,292,416)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)			1,281,493	33
Issuance of common stock	12,879,345		$ 1,293		12,878,052
Stock compensation expense (in shares)			4,300
Stock compensation expense	43,215		$ 4		43,211
Offering costs	(386,203)				(386,203)
Distributions declared	(1,864,493)					(1,864,493)
Net loss	(211,129)					(211,129)
Balance (in shares) at Jun. 30, 2018			11,182,489	3,098
Balance at Jun. 30, 2018	93,781,564		$ 11,183	$ 3	104,138,416	(10,368,038)
Balance (in shares) at Dec. 31, 2018			12,943,294	17,594
Balance at Dec. 31, 2018	103,092,769		$ 12,943	$ 18	119,247,245	(16,167,437)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)			2,806,991	148,854
Issuance of common stock	30,005,491		$ 2,807	$ 148	30,002,536
Stock compensation expense (in shares)			10,335
Stock compensation expense	105,000		$ 10		104,990
Offering costs	(899,863)				(899,863)
Distributions declared	(4,993,962)					(4,993,962)
Net loss	(2,053,174)					(2,053,174)
Balance (in shares) at Jun. 30, 2019		166,448	15,313,171	166,448
Balance at Jun. 30, 2019	120,812,608		$ 15,313	$ 166	144,011,702	(23,214,573)
Balance (in shares) at Mar. 31, 2019			14,201,229	132,517
Balance at Mar. 31, 2019	113,287,570		$ 14,201	$ 133	132,742,525	(19,469,289)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)			1,329,089	33,931
Issuance of common stock	13,848,287		$ 1,329	$ 33	13,846,925
Stock compensation expense (in shares)			5,414
Stock compensation expense	55,000		$ 5		54,995
Offering costs	(415,299)				(415,299)
Distributions declared	(2,605,268)					(2,605,268)
Net loss	(1,140,016)					(1,140,016)
Balance (in shares) at Jun. 30, 2019		166,448	15,313,171	166,448
Balance at Jun. 30, 2019	$ 120,812,608		$ 15,313	$ 166	$ 144,011,702	$ (23,214,573)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (FY) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net loss	$ (1,801,724)	$ (868,484)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	6,988,925	3,081,554
Stock compensation expense	167,835	163,000
Deferred rents	(1,236,145)	(965,846)
Amortization of lease incentives	8,350	130,689
Tenant reimbursement used for rent credit	0	(51,459)
Amortization of deferred financing costs	927,535	169,664
Amortization of above-market lease intangibles	97,045	83,770
Amortization of below-market lease intangibles	(406,329)	(68,699)
Unrealized (loss) gain on interest rate swap valuation	157,613	(7,899)
Income from investments in unconsolidated entities	(226,024)	(199,233)
Distributions from investments in unconsolidated entities	896,670	367,686
Changes in operating assets and liabilities:
Tenant receivables	(1,159,874)	(182,929)
Due from affiliate	17,356	45,668
Prepaid expenses and other assets	8,592	(91,871)
Accounts payable, accrued and other liabilities	1,373,044	1,323,371
Due to affiliate	69,020	861,855
Net cash provided by operating activities	5,881,889	3,790,837
Cash Flows from Investing Activities:
Acquisition of real estate investments	(87,064,535)	(100,458,868)
Improvements to existing real estate investments	(1,730,666)	(685,160)
Payments of acquisition fees to affiliate	(2,702,043)	(3,935,884)
Funding of amounts due from affiliate	0	28,571
Investments in unconsolidated entities	(422,440)	(10,542,594)
Refundable purchase deposits	(100,000)	0
Net cash used in investing activities	(92,019,684)	(115,593,935)
Cash Flows from Financing Activities:
Borrowings from unsecured credit facility	36,450,000	55,390,000
Repayments of unsecured credit facility	(39,450,000)	(53,547,803)
Proceeds from mortgage notes payable	75,687,500	55,369,988
Principal payments on mortgage notes payable	(12,892,970)	(407,725)
Refundable loan deposits	0	(40,000)
Payments of deferred financing costs to third parties	(1,200,010)	(1,430,607)
Payments of financing fees to affiliates	(262,050)	(326,600)
Proceeds from issuance of common stock and investor deposits	44,223,885	62,555,554
Payment of offering costs	(1,500,285)	(2,049,847)
Payment of Class S commissions	(550)	(700)
Repurchases of common stock	(8,688,479)	(2,472,571)
Distributions paid to common stockholders	(1,656,073)	(731,209)
Net cash provided by financing activities	90,710,968	112,308,480
Net increase in cash, cash equivalents and restricted cash	4,573,173	505,382
Cash, cash equivalents and restricted cash, beginning of period	4,182,755	3,677,373
Cash, cash equivalents and restricted cash, end of period	8,755,928	4,182,755
Supplemental disclosure of cash flow information:
Cash paid for interest	4,235,739	1,285,716
Supplemental disclosure of noncash flow information:
Reclassifications to redeemable common stock	6,152,439	219,061
Distributions paid to common stockholders through common stock issuance pursuant to the dividend reinvestment plan	5,878,104	3,067,095
Increase in deferred commission payable to S Class distributor	0	2,300
(Reduction) increase in lease incentive obligation	(853,232)	858,389
Purchase deposits applied to acquisition of real estate	0	500,000
Increase in share repurchases payable	197,837	369,372
Increase in accrued dividends	747,640	0
Unpaid portion of real estate acquired	$ 3,486,927	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Q2) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Real estate investments:
Land	$ 41,126,392	$ 41,126,392
Buildings and improvements	176,367,798	176,367,798
Tenant origination and absorption costs	17,717,819	17,717,819
Total investments in real estate property	235,212,009	235,212,009
Accumulated depreciation and amortization	(15,346,655)	(10,563,664)
Total investments in real estate property, net	219,865,354	224,648,345
Investments in unconsolidated entities (Note 5)	13,987,073	14,275,815
Total investments in real estate property, net	233,852,427	238,924,160
Cash and cash equivalents	10,635,254	5,252,686
Restricted cash	156,046	3,503,242
Tenant receivables	4,146,339	3,659,114
Above-market lease intangibles, net	535,725	584,248
Due from affiliates (Note 8)	4,236	16,838
Refundable purchase deposits	200,000	100,000
Prepaid expenses and other assets	577,619	234,399
Interest rate swap derivatives	0	151,215
Total assets	250,107,646	252,425,902
Liabilities and Stockholders' Equity
Mortgage notes payable, net	115,032,981	122,709,308
Unsecured credit facility, net	0	8,998,000
Accounts payable, accrued and other liabilities	4,264,232	7,164,713
Share repurchases payable	822,829	584,676
Below-market lease intangibles, net	2,358,186	2,595,382
Due to affiliates (Note 8)	30,282	979,174
Interest rate swap derivatives	1,023,730	300,929
Total liabilities	123,532,240	143,332,182
Commitments and contingencies (Note 9)	0
Redeemable common stock	5,762,798	6,000,951
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in-capital	144,011,702	119,247,245
Cumulative distributions and net losses	(23,214,573)	(16,167,437)
Total stockholders' equity	120,812,608	103,092,769
Total liabilities and stockholders' equity	250,107,646	252,425,902
Common Class C
Liabilities and Stockholders' Equity
Common stock issued	15,313	12,943
Common Class S
Liabilities and Stockholders' Equity
Common stock issued	$ 166	$ 18

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Q2) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 11, 2017	Jul. 15, 2015
Preferred Stock
Par value (USD Per Share)	$ 0.001	$ 0.001	$ 0.001
Shares authorized ( in shares )	50,000,000	50,000,000	50,000,000
Shares Issued ( In shares )	0	0	0
Shares Outstanding ( In shares )	0	0	0
Common Stock
Par value ( usd per share )		$ 0.001
Common Class C
Common Stock
Par value ( usd per share )	$ 0.001	$ 0.001	$ 0.001
Shares authorized ( in shares )	300,000,000	300,000,000	200,000,000
Shares Issued ( In shares )	15,313,171	12,943,294	8,838,002
Shares Outstanding ( In shares )	15,313,171	12,943,294	8,838,002
Common Class S
Common Stock
Par value ( usd per share )	$ 0.001	$ 0.001	$ 0.001
Shares authorized ( in shares )	100,000,000	100,000,000	100,000,000	100,000,000	10,000,000
Shares Issued ( In shares )	166,448	17,594	3,032
Shares Outstanding ( In shares )	166,448	17,594	3,032

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Q2) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Rental income	$ 5,896,266	$ 4,383,966	$ 11,781,711	$ 7,841,944
Expenses:
Fees to affiliates (Note 8)	812,019	477,915	1,624,037	879,230	$ 2,843,810	$ 1,188,083
General and administrative	853,940	836,996	1,393,445	1,449,183	2,570,529	3,742,896
Depreciation and amortization	2,391,495	1,712,469	4,782,991	3,026,745	6,988,925	3,081,554
Interest expense	2,076,725	1,203,260	4,237,075	2,293,876	5,577,828	1,637,984
Property expenses	1,111,936	701,244	2,174,588	1,194,222	3,185,629	1,282,759
Total expenses	7,246,115	4,931,884	14,212,136	8,843,256	21,166,721	10,933,276
Less: Expenses reimbursed by Sponsor or affiliates (Note 8)	(148,233)	(293,939)	(236,232)	(653,453)	(1,136,469)	(2,468,138)
Net expenses	7,097,882	4,637,945	13,975,904	8,189,803	20,030,252	8,465,138
Other income:
Interest income	5,645	4,244	11,031	7,920	17,879	7,215
Income from investments in unconsolidated entities, net	55,955	38,606	129,988	93,485	226,024	199,233
Total other income	61,600	42,850	141,019	101,405	243,903	206,448
Net loss	$ (1,140,016)	$ (211,129)	$ (2,053,174)	$ (246,454)	$ (1,801,724)	$ (868,484)
Net loss per share, basic and diluted ( in USD per share )	$ (0.08)	$ (0.02)	$ (0.14)	$ (0.02)	$ (0.16)	$ (0.15)
Weighted-average number of common shares outstanding, basic and diluted ( in shares )	14,846,259	10,603,387	14,218,770	10,054,089	11,069,864	5,982,930
Dividends declared per common share ( in USD per share )	$ 0.176	$ 0.176	$ 0.352	$ 0.41	$ 0.7035	$ 0.7

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Q2) - USD ($)	Total	Common Class S	Common StockCommon Class C	Common StockCommon Class S	Additional Paid-in Capital	Cumulative Distributions and Net Losses
Balance (in shares) at Dec. 31, 2016			2,458,881
Balance at Dec. 31, 2016	$ 22,231,106		$ 2,458		$ 23,643,435	$ (1,414,787)
Issuance of common stock (in shares)			6,617,457	3,032
Issuance of common stock	66,204,898		$ 6,617	$ 3	66,198,278
Stock compensation expense (in shares)			16,300
Stock compensation expense	163,000		$ 16		162,984
Offering costs	(1,988,397)				(1,988,397)
Distributions declared	(3,800,625)					(3,800,625)
Net loss	(868,484)					(868,484)
Balance (in shares) at Dec. 31, 2017			8,838,002	3,032
Balance at Dec. 31, 2017	79,249,866		$ 8,838	$ 3	85,324,921	(6,083,896)
Issuance of common stock (in shares)			2,710,514	66
Issuance of common stock	27,220,462		$ 2,711		27,217,751
Stock compensation expense (in shares)			8,100
Stock compensation expense	81,405		$ 8		81,397
Offering costs	(816,297)				(816,297)
Reclassification to redeemable common stock	4,006,748				4,006,748
Repurchase of common stock (in shares)			(374,127)
Repurchase of common stock	(3,662,982)		$ (374)		(3,662,608)
Distributions declared	(4,037,688)					(4,037,688)
Net loss	(246,454)					(246,454)
Balance (in shares) at Jun. 30, 2018			11,182,489	3,098
Balance at Jun. 30, 2018	93,781,564		$ 11,183	$ 3	104,138,416	(10,368,038)
Balance (in shares) at Dec. 31, 2017			8,838,002	3,032
Balance at Dec. 31, 2017	79,249,866		$ 8,838	$ 3	85,324,921	(6,083,896)
Issuance of common stock (in shares)		17,588	4,972,792	14,562
Issuance of common stock	50,101,989		$ 4,972	$ 15	50,097,002
Stock compensation expense (in shares)			16,700
Stock compensation expense	167,835		$ 17		167,818
Offering costs	(1,502,462)				(1,502,462)
Distributions declared	(8,281,817)					(8,281,817)
Net loss	(1,801,724)					(1,801,724)
Balance (in shares) at Dec. 31, 2018			12,943,294	17,594
Balance at Dec. 31, 2018	103,092,769		$ 12,943	$ 18	119,247,245	(16,167,437)
Balance (in shares) at Mar. 31, 2018			10,098,354	3,065
Balance at Mar. 31, 2018	85,300,468		$ 10,087	$ 3	93,582,794	(8,292,416)
Issuance of common stock (in shares)			1,281,493	33
Issuance of common stock	12,879,345		$ 1,293		12,878,052
Stock compensation expense (in shares)			4,300
Stock compensation expense	43,215		$ 4		43,211
Offering costs	(386,203)				(386,203)
Repurchase of common stock (in shares)			(201,658)
Repurchase of common stock	(1,979,639)		$ (201)		(1,979,438)
Distributions declared	(1,864,493)					(1,864,493)
Net loss	(211,129)					(211,129)
Balance (in shares) at Jun. 30, 2018			11,182,489	3,098
Balance at Jun. 30, 2018	93,781,564		$ 11,183	$ 3	104,138,416	(10,368,038)
Balance (in shares) at Dec. 31, 2018			12,943,294	17,594
Balance at Dec. 31, 2018	103,092,769		$ 12,943	$ 18	119,247,245	(16,167,437)
Issuance of common stock (in shares)			2,806,991	148,854
Issuance of common stock	30,005,491		$ 2,807	$ 148	30,002,536
Stock compensation expense (in shares)			10,335
Stock compensation expense	105,000		$ 10		104,990
Offering costs	(899,863)				(899,863)
Repurchase of common stock (in shares)			(447,449)
Repurchase of common stock	(4,443,653)		$ (447)		(4,443,206)
Distributions declared	(4,993,962)					(4,993,962)
Net loss	(2,053,174)					(2,053,174)
Balance (in shares) at Jun. 30, 2019		166,448	15,313,171	166,448
Balance at Jun. 30, 2019	120,812,608		$ 15,313	$ 166	144,011,702	(23,214,573)
Balance (in shares) at Mar. 31, 2019			14,201,229	132,517
Balance at Mar. 31, 2019	113,287,570		$ 14,201	$ 133	132,742,525	(19,469,289)
Issuance of common stock (in shares)			1,329,089	33,931
Issuance of common stock	13,848,287		$ 1,329	$ 33	13,846,925
Stock compensation expense (in shares)			5,414
Stock compensation expense	55,000		$ 5		54,995
Offering costs	(415,299)				(415,299)
Repurchase of common stock (in shares)			(222,561)
Repurchase of common stock	(2,217,666)		$ (222)		(2,217,444)
Distributions declared	(2,605,268)					(2,605,268)
Net loss	(1,140,016)					(1,140,016)
Balance (in shares) at Jun. 30, 2019		166,448	15,313,171	166,448
Balance at Jun. 30, 2019	$ 120,812,608		$ 15,313	$ 166	$ 144,011,702	$ (23,214,573)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Q2) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities:
Net loss	$ (2,053,174)	$ (246,454)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	4,782,991	3,026,745
Stock compensation expense	176,667	81,405
Amortization of deferred rents	(683,886)	(609,000)
Amortization of deferred financing costs	390,096	518,391
Amortization of above-market lease intangibles	48,523	48,523
Amortization of below-market lease intangibles	(237,196)	(169,135)
Amortization of above-market lease intangibles	30,602	0
Unrealized loss (gain) on interest rate swap valuation	874,016	(220,571)
Income from investments in unconsolidated entities	(129,988)	(93,485)
Distributions from investments in unconsolidated entities	418,730	453,167
Change in operating assets and liabilities:
Decrease (increase) in tenant receivables	196,660	(245,400)
Decrease in due from affiliates	12,602	7,746
Increase in prepaid and other assets	(311,094)	(14,041)
Decrease in accounts payable, accrued and other liabilities	319,774	(509,586)
Decrease in due to affiliate	(949,192)	(710,290)
Net cash provided by operating activities	2,886,131	1,318,015
Cash Flows from Investing Activities:
Acquisition of real estate investments	0	(31,103,596)
Additions to existing real estate investments	0	(749,095)
Payment for tenant improvements	3,387,699	0
Payment of acquisition fees to affiliate	0	(930,000)
Refundable purchase deposits	(100,000)	(250,000)
Net cash used in investing activities	(3,487,699)	(33,032,691)
Cash Flows from Financing Activities:
Borrowings from unsecured credit facility	4,869,000	9,000,000
Repayments of unsecured credit facility	(13,869,000)	(21,000,000)
Proceeds from mortgage notes payable	6,350,000	37,845,000
Principal payments on mortgage notes payable	(14,240,853)	(12,442,642)
Refundable loan deposits	0	(35,360)
Payments of deferred financing costs to third parties	(172,797)	(676,190)
Payments of financing fees to affiliates	(63,500)	(209,550)
Proceeds from issuance of common stock and investor deposits	26,340,968	24,551,789
Payments of offering costs	(899,863)	(829,325)
Payments of commissions to Class S distributor	(51,044)	0
Repurchase of common stock	(4,443,653)	(3,662,982)
Distributions paid to common stockholders	(1,182,318)	(727,230)
Net cash provided by financing activities	2,636,940	31,813,510
Net increase in cash, cash equivalents and restricted cash	2,035,372	98,834
Cash, cash equivalents and restricted cash, beginning of period	8,755,928	4,182,755
Cash, cash equivalents and restricted cash, end of period	10,791,300	4,281,589
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	2,979,031	1,852,121
Supplemental Schedule of Noncash Investing and Financing Activities:
Reclassification to redeemable common stock	(238,153)	(4,006,748)
Reinvested distributions from common stockholders	3,664,523	2,668,673
Increase in share repurchases payable	238,153	502,508
Accrued dividends	$ 896,291	$ 643,202

BUSINESS AND ORGANIZATION (FY)

BUSINESS AND ORGANIZATION (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
BUSINESS AND ORGANIZATION	NOTE 1. BUSINESS AND ORGANIZATION RW Holdings NNN REIT, Inc. (the "Company") was incorporated on May 15, 2015 as a Maryland corporation. The Company has the authority to issue 450,000,000 shares of stock, consisting of 50,000,000 shares of preferred stock, $0.001 par value per share, 300,000,000 shares of Class C common stock, $0.001 par value per share, and 100,000,000 shares of Class S common stock, $0.001 par value per share. The Company was formed to primarily invest, directly or indirectly through investments in real estate owning entities, in single-tenant income-producing properties located in the United States, which are leased to creditworthy tenants under long-term net leases. The Company’s goal is to generate current income for investors and long-term capital appreciation in the value of its properties. The Company holds its investments in real property through special purpose, wholly-owned limited liability companies, which are wholly-owned subsidiaries of Rich Uncles NNN Operating Partnership, LP, a Delaware limited partnership (the "Operating Partnership") or through the Operating Partnership. The Operating Partnership was formed on January 28, 2016. The Company is the sole general partner of, and owns a 99% partnership interest in, the Operating Partnership. Rich Uncles NNN LP, LLC, a Delaware limited liability company formed on May 13, 2016 ("NNN LP"), owns the remaining 1% partnership interest in the Operating Partnership and is the sole limited partner. NNN LP is wholly-owned by the Company. The Company is externally managed by its advisor, Rich Uncles NNN REIT Operator, LLC (the "Advisor"), a Delaware limited liability company, pursuant to an advisory agreement, as amended (the "Advisory Agreement"). The Advisor is wholly-owned by the Company’s sponsor, BrixInvest, LLC (f/k/a Rich Uncles, LLC, the "Sponsor"), a Delaware limited liability company whose members include Aaron S. Halfacre and Raymond Wirta, the Company’s Chief Executive Officer and Chairman of the Board of Directors, respectively. On each of June 24, 2015 and December 31, 2015, the Company issued 10,000 shares of its Class C common stock to the Sponsor, for a total of 20,000 shares of Class C common stock, at a purchase price of $10.00 per share. As of June 30, 2019 and December 31, 2018, the Sponsor held 10,740 shares of the Company’s Class C common stock. On July 15, 2015, the Company filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission (the "SEC") to register an initial public offering of a maximum of 90,000,000 shares of common stock for sale to the public (the "Primary Offering"). The Company also registered a maximum of 10,000,000 shares of common stock pursuant to the Company’s distribution reinvestment plan (the "Registered DRP Offering" and, together with the Primary Offering, the "Registered Offering"). The SEC declared the Company’s registration statement effective on June 1, 2016 and on July 20, 2016, the Company began offering shares of common stock to the public. Pursuant to its securities offering registered with the SEC, the Company sells shares of its "Class C" common stock directly to investors, with a minimum investment in shares of $500. Commencing in August 2017, the Company began selling shares of its Class C common stock only to U.S. persons as defined under Rule 903 promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Under applicable SEC rules, the current registration statement for the Registered Offering was scheduled to terminate on June 1, 2019, unless the Company filed a new registration statement on Form S-11 with the SEC prior to such date to extend the Registered Offering in accordance with Rule 415 of the Securities Act. On May 24, 2019, the Company filed a new registration statement on Form S-11 with the SEC so that the Company may continue to offer shares of its Class C common stock. The Company’s current registration statement on Form S-11 will terminate when the new registration statement is declared effective by the SEC. As required by some states, the Company is also required to renew the registration statement for the Registered Offering annually or file a new registration statement to continue the Registered Offering. On August 11, 2017, the Company began offering up to 100,000,000 shares of its Class S common stock exclusively to non-U.S. Persons as defined under Rule 903 promulgated under the Securities Act pursuant to an exemption from the registration requirements of the Securities Act and in accordance with Regulation S of the Securities Act (the "Class S Offering" and, together with the Registered Offering, the "Offerings"). The Class S common stock has similar features and rights as the Class C common stock with respect to voting and liquidation except that the Class S common stock offered in the Class S offering may be sold through brokers or other persons who may be paid upfront and/or deferred selling commissions and fees. On January 11, 2019, the Company’s board of directors approved and established an estimated net asset value ("NAV") per share of the Company’s common stock of $10.16 (unaudited). Effective January 14, 2019, the purchase price per share of the Company’s common stock in the Offerings and share repurchase program increased from $10.05 (unaudited) to $10.16 (unaudited). Through June 30, 2019, the Company had sold 16,834,959 shares of Class C common stock in the Registered Offering, including 1,263,675 shares of Class C common stock sold under its Registered DRP Offering, for aggregate gross offering proceeds of $169,200,530, and 166,448 shares of Class S common stock in the Class S Offering, including 1,154 shares of Class S common stock sold under its dividend reinvestment plan applicable to Class S common stock, for aggregate gross offering proceeds of $1,689,029. As of June 30, 2019, the Company had invested in (i) 24 operating properties, comprised of: nine retail properties, 10 office properties and five industrial properties; (ii) one parcel of land, which currently serves as an easement to one of the Company’s office properties; (iii) an approximate 72.7% tenant-in-common interest in a Santa Clara office property (the "TIC Interest"); and (iv) an approximate 4.8% interest in Rich Uncles Real Estate Investment Trust I ("REIT I"), an affiliated REIT. On January 14, 2019, REIT I announced that it had retained a real estate financial advisor to assist it in evaluating strategic alternatives, which includes marketing its entire real estate properties portfolio (the "REIT I Portfolio") for disposition by sale, merger or other transaction structure. In connection with REIT I’s announcement, on March 19, 2019, the Company announced that it intended to explore a potential acquisition of REIT I or the REIT I Portfolio and that the Company’s board of directors has formed a special committee of the board of directors (the "special committee"), consisting solely of independent directors, that is evaluating the potential for a transaction with REIT I. The members of the special committee, comprised of four of the Company’s six directors, have no affiliation with REIT I or the Sponsor. The special committee has engaged UBS Investment Bank as its financial advisor and Morris Manning and Martin, LLP as its legal advisor to assist the special committee as it conducts a review of a potential acquisition of REIT I or the REIT I Portfolio. On June 21, 2019, the Company announced that REIT I conducted a multi-round process whereby bidders submitted proposals to a special committee of the REIT I board of trust managers for preliminary review. As a result of such process, REIT I and the Company determined to commence an exclusive due diligence process. Both parties and their advisors are continuing to evaluate a potential transaction and the special committee has not set a definitive timetable for completion of its evaluation. There can be no assurance that the Company will be able to enter into any transaction with REIT I on acceptable terms or at all.	NOTE 1. BUSINESS AND ORGANIZATION RW Holdings NNN REIT, Inc. (the “Company”) was incorporated on May 15, 2015 as a Maryland corporation. The Company was originally incorporated under the name Rich Uncles Real Estate Investment Trust, Inc., but changed its name on October 19, 2015 to Rich Uncles NNN REIT, Inc. and again on August 14, 2017 to RW Holdings NNN REIT, Inc. The Company has the authority to issue 450,000,000 shares of stock, consisting of 50,000,000 shares of preferred stock, $0.001 par value per share, 300,000,000 shares of Class C common stock, $0.001 par value per share, and 100,000,000 shares of Class S common stock, $0.001 par value per share. The Company was formed to primarily invest, directly or indirectly in real estate owning entities, which own single-tenant income-producing properties located in the United States, which are leased to credit worthy tenants under long-term net leases. The Company’s goal is to generate current income for investors and long-term capital appreciation in the value of its properties. The Company holds its investments in real property through special purpose wholly-owned limited liability companies which are wholly-owned subsidiaries of Rich Uncles NNN Operating Partners, L.P., a Delaware limited partnership (the “Operating Partnership”) or through the Operating Partnership. The Operating Partnership was formed on January 28, 2016. The Company is the sole general partner of and owns a 99% partnership interest in the Operating Partnership. Rich Uncles NNN LP, LLC, a Delaware limited liability company formed on May 13, 2016 (“NNN LP”), owns the remaining 1% interest in the Operating Partnership and is the sole limited partner. NNN LP is wholly-owned by the Company. The Company is externally managed by its advisor, Rich Uncles NNN REIT Operator, LLC (the “Advisor”), a Delaware limited liability company, pursuant to an advisory agreement, as amended (the “Advisory Agreement”). The Advisor is wholly-owned by the Company’s sponsor, BrixInvest, LLC (f/k/a Rich Uncles, LLC) (the “Sponsor”), a Delaware limited liability company, whose members include Aaron Halfacre and Ray Wirta, the Company’s Chief Executive Officer and Chairman, respectively. On each of June 24 and December 31, 2015, the Company issued 10,000 shares of its Class C common stock to the Sponsor, for a total of 20,000 shares of Class C common stock, at a purchase price of $10.00 per share. As of December 31, 2018, the Sponsor held 10,740 shares of the Company’s Class C common stock. On July 15, 2015, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to register an initial public offering of a maximum of 90,000,000 in shares of common stock for sale to the public (the “Primary Offering”). The Company also registered a maximum of 10,000,000 of common stock pursuant to the Company’s distribution reinvestment plan (the “Registered DRP Offering” or "DRP" and, together with the Primary Offering the “Registered Offering”). The SEC declared the Company’s registration statement effective on June 1, 2016 and on July 20, 2016, the Company began offering shares of common stock to the public. Pursuant to its securities offering registered with the SEC, the Company sells shares of “Class C” common stock directly to investors, with a minimum investment in shares of $500. Commencing in August 2017, the Company began selling shares of its Class C common stock only to U.S. persons as defined under Rule 903 promulgated under the Securities Act of 1933, as amended (the “Securities Act”). On August 11, 2017, the Company began offering up to 100,000,000 shares of Class S common stock exclusively to non-U.S. Persons as defined under Rule 903 promulgated under the Securities Act pursuant to an exemption from the registration requirements of the Securities Act and in accordance with Regulation S of the Securities Act (the “Class S Offering” and, together with the Registered Offering the “Offerings”). The Class S common stock has similar features and rights as the Class C common stock with respect to voting and liquidation except that the Class S common stock offered in the Class S offering may be sold through brokers or other persons who may be paid upfront and/or deferred selling commissions and fees. On January 11, 2019, the Company’s board of directors approved and established an estimated net asset value ("NAV") per share of the Company’s common stock of $10.16 (unaudited). Effective January 14, 2019, the purchase price per share of the Company’s common stock in the Offerings and share repurchase program increased from $10.05 to $10.16 (unaudited). Through December 31, 2018, the Company had sold 14,027,968 shares of Class C common stock in the Registered Offering, including 903,901 shares of Class C common stock sold under its Registered DRP Offering, for aggregate gross offering proceeds of $140,507,461, and 17,588 shares of Class S common stock in the Class S Offering, including 167 shares of Class S common stock sold under its distribution reinvestment plan, for aggregate gross offering proceeds of $176,604. As of December 31, 2018, the Company had invested in (i) 24 operating properties, comprised of: 10 retail properties, 9 office properties and 5 industrial properties; (ii) one parcel of land, which currently serves as an easement to one of the Company’s office properties; (iii) an approximate 72.7% tenant-in-common interest in a Santa Clara office property (the “TIC Interest”); and (iv) an approximate 4.8% interest in REIT I. The Company continues to offer shares of common stock under its Offerings. In some states, the Company is required to renew the registration statement for the Registered Offering annually or file a new registration statement to continue the Registered Offering. The Company may terminate the Registered Offering at any time.

SUMMARY OF SIGNIFICANT ACOUNTIN

SUMMARY OF SIGNIFICANT ACOUNTING POLICIES (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial statements and the rules and regulations of the SEC. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. Such unaudited condensed consolidated financial statements and accompanying notes are the representations of the Company’s management, which is responsible for their integrity and objectivity. These unaudited condensed consolidated financial statements should be read in conjunction with the December 31, 2018 audited consolidated financial statements included in the Company’s Form 10-K filed with the SEC on March 29, 2019. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which are normal and recurring, necessary to fairly state its financial position, results of operations and cash flows. All significant intercompany balances and transactions are eliminated in consolidation. The December 31, 2018 balance sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements. Use of Estimates The preparation of the condensed consolidated financial statements and the accompanying notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates. Fair Value Disclosures Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an existing price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: Level 1: quoted prices in active markets for identical assets or liabilities; Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value for certain financial instruments is derived using valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of financial instrument for which it is practicable to estimate the fair value: Cash and cash equivalents, restricted cash, tenant receivables, due from affiliates, purchase and other deposits, prepaid expenses and other assets, accounts payable, accrued and other liabilities and due to affiliates: These balances approximate their fair values due to the short maturities of these items. Derivative Instruments Unsecured Credit Facility Mortgage notes payable: Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements. Restricted cash as of June 30, 2019 and December 31, 2018 amounted to $156,046 and $3,503,242, respectively. Pursuant to lease agreements, the Company had obligations to pay for $156,046 and $3,535,163 in site and tenant improvements to be incurred by tenants as of June 30, 2019 and December 31, 2018, respectively, including a 72.7% share of tenant improvements for the Santa Clara property at both balance sheet dates. At June 30, 2019 and December 31, 2018, the Company's restricted cash held to fund the improvements totaled $99,228 and $3,486,927, respectively. As of June 30, 2019 and December 31, 2018, the Company also held restricted cash to fund an impounded property tax. During the second quarter of 2019, $3,387,699 of restricted cash was released to a tenant to reimburse it for tenant improvement costs under the terms of its lease agreement. Other Comprehensive Loss For all periods presented, other comprehensive loss is the same as net loss. Reclassifications Certain prior period revenue account balances in the statement of operations have been reclassified to conform with the current year presentation. The reclassifications had no impact on net loss. Per Share Data Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted loss per share of common stock equals basic loss per share of common stock as there were no potentially dilutive securities outstanding during the three and six months ended June 30, 2019 and 2018. For the three and six months ended June 30, 2019 and 2018, the Company has presented net loss per share amounts on the accompanying condensed consolidated statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for allocating income (loss) in accordance with the provisions of Accounting Standards Codification ("ASC") 260, Earnings per Share The differences in net loss per share if allocated under this method primarily reflect the lower effective dividends per share for Class S shareholders as a result of the payment of the deferred commission to the Class S distributor of these shares, and also reflect the impact of the timing of the declaration of the dividends relative to the time the shares were outstanding. Distributions The Company’s board of directors may declare distributions in advance of the periods to which they relate. Because such distributions relate to operations and cash available for distributions to be produced in future periods, these distributions will not be included in distributions that are recorded in the current period being reported. The following are the Company’s updated significant accounting policies that have been affected by the adoption of Topic 842 as discussed below in New Accounting Standards Issued and Adopted: Revenue Recognition The Company recognizes rental income, tenant reimbursements and other lease-related revenue when all of the following criteria are met: (i) the agreement has been fully executed and delivered, (ii) services have been rendered, (iii) the amount is fixed or determinable and (iv) payment has been received or the collectability of the amount due is probable. Lease termination fees are amortized over the remaining lease term, if applicable. If there is no remaining lease term, they are recognized when received and realized. Minimum annual rental revenues are recognized in rental income on a straight-line basis over the non-cancelable term of the related lease. The recognition of rental income commences when the tenant takes possession or controls the physical use of the leased property. In order for the tenant to take possession, the leased property must be substantially complete and ready for its intended use. In order to determine whether the leased property is substantially complete and ready for its intended use, the Company begins by determining whether the Company or the tenant owns the tenant improvements, if the lease agreement provides for tenant improvements. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. When the Company concludes that it is the owner of tenant improvements, rental income recognition begins when the tenant takes possession of the completed property, which is generally when Company-owned tenant improvements are substantially complete. In addition, when the Company concludes that it is the owner of tenant improvements, the Company records the costs to construct the tenant improvements, including costs paid for or reimbursed by the tenants, as a capital asset. For these tenant improvements, the Company records the amount funded by or reimbursed by the tenants as deferred revenue, which is amortized on a straight-line basis as additional rental income over the term of the related lease. When the Company concludes that the tenant is the owner of tenant improvements, rental income recognition begins when the tenant takes possession of or controls the physical use of the leased property. Any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. In addition, when the Company concludes that the tenant is the owner of tenant improvements for accounting purposes, the Company records its contribution towards such improvements as a lease incentive, which is included in deferred leasing costs and acquisition-related intangible assets, net in its consolidated balance sheets and amortized as a reduction to rental income on a straight-line basis over the term of the related lease. Tenant Reimbursements Tenant reimbursements, consisting of amounts due from tenants for common area maintenance, property taxes and other recoverable costs, are recognized in rental income in the period the recoverable costs are incurred. Tenant reimbursements are recorded on a gross basis when the Company pays the associated costs directly to third-party vendors and are reimbursed subsequently by the tenants. Allowances for Tenant and Deferred Rent Receivables The Company carries its tenant and deferred rent receivables net of allowances for amounts that may not be collected. Prior to the Company’s adoption of Topic 842 on January 1, 2019, the allowances were increased or decreased through provision for bad debts in the Company’s condensed consolidated statement of operations. Upon the adoption of Topic 842 on January 1, 2019, the determination of the adequacy of the Company's allowances for tenant and deferred rent receivables includes a binary assessment of whether the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any current and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. Recent Accounting Pronouncements New Accounting Standards Issued and Adopted Effective January 1, 2019, the Company adopted Financial Accounting Standards Board ("FASB") ASU No. 2016-02 "Leases (Topic 842)" Lessor Accounting As a lessor, the Company’s leases with tenants generally provide for the lease of real estate properties, as well as common area maintenance, property taxes and other recoverable costs. Under Topic 842, the lease of space is considered a lease component while the common area maintenance, property taxes and other recoverable costs billings are considered nonlease components, which fall under revenue recognition guidance in Topic 606. However, upon adopting the guidance in Topic 842, the Company determined that its tenant leases met the criteria to apply the practical expedient provided by ASU 2018-11 to recognize the lease and non-lease components together as one single component. This conclusion was based on the consideration that 1) the timing and pattern of transfer of the nonlease components and associated lease component are the same, and 2) the lease component, if accounted for separately, would be classified as an operating lease. As the lease of properties is the predominant component of the Company’s leasing arrangements, the Company accounted for all lease and nonlease components as one-single component under Topic 842. As a result, the adoption of Topic 842 did not have any impact on the Company’s timing or pattern of recognition of rental revenues as compared to previous guidance. To reflect recognition as one lease component, rental income and tenant reimbursements and other lease related property income that meet the requirements of the practical expedient provided by ASU 2018-11 have been combined under rental income subsequent to the adoption of Topic 842 for the three and six months ended June 30, 2019 in the Company’s consolidated statements of operations. The Company also made a conforming reclassification for the prior year’s tenant reimbursements. For the three month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $1,098,603 and $732,934, respectively, and for the six month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $2,186,463 and $1,261,519, respectively. Prior to the adoption of Topic 842, lessor costs for certain services directly reimbursed by tenants have already been presented by the Company on a gross basis in revenues and expenses. Leasing Costs Upon adoption of Topic 842, the Company elected to apply the package of practical expedients provided and did not reassess the following as of January 1, 2019: 1) whether any expired or existing contracts are leases or contain leases; 2) the lease classification for any expired or existing leases; and 3) initial direct costs for any existing leases. Under Topic 842, initial direct costs for both lessees and lessors would include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. As a result, beginning January 1, 2019, the Company will no longer capitalize internal leasing costs and third-party legal leasing costs and will instead expense these costs as incurred. These expenses will be included in legal leasing costs under general and administrative expenses in our consolidated statements of operations. During the three months ended March 31, 2019, the Company did not incur any indirect leasing costs which would have been capitalized prior to the adoption of Topic 842. The election of the package of practical expedients described above permits us to continue to account for our leases that commenced before January 1, 2019 under the previously existing lease accounting guidance for the remainder of their lease terms, and to apply the new lease accounting guidance to leases commencing or modified after January 1, 2019. Allowances for Tenant and Deferred Rent Receivables Upon the adoption of Topic 842 on January 1, 2019, the Company’s determination of the adequacy of its allowances for tenant receivables includes a binary assessment of whether or not the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. In addition, for tenant and deferred rent receivables deemed probable of collection the Company also may record an allowance under other authoritative GAAP depending upon the Company’s evaluation of the individual receivables, specific credit enhancements, current economic conditions, and other relevant factors. Such allowances are recorded as increases or decreases through rental income in the Company’s consolidated statements of operations. New Accounting Standards Recently Issued and Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation. The consolidated financial statements and accompanying notes are the representations of the Company’s management, who is responsible for their integrity and objectivity. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Revenue Recognition Effective January 1, 2018, the Company adopted Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”), using the modified retrospective approach, which requires a cumulative effect adjustment as of the date of the Company’s adoption. The adoption of ASU No. 2014-09 did not result in a cumulative effect adjustment as of January 1, 2018, the date of the Company's adoption. Based on the Company’s evaluation of contracts within the scope of ASU No. 2014-09, revenue that is impacted by ASU No. 2014-09 includes revenue generated by sales of real estate, other operating income and tenant reimbursements for substantial services earned at the Company’s properties. Such revenue is recognized when the services are provided and the performance obligations are satisfied. The Company’s adoption of ASU No. 2014-09 did not have a significant impact on its consolidated financial statements. The Company recognizes rental income from tenants under operating leases on a straight-line basis over the noncancelable term of the lease when collectability of such amounts is reasonably assured. Recognition of rental income on a straight-line basis includes the effects of rental abatements, lease incentives and fixed and determinable increases in lease payments over the lease term. If the lease provides for tenant improvements, management of the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or by the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. Tenant reimbursements of real estate taxes, insurance, repairs and maintenance, and other operating expenses are recognized as revenue in the period the expenses are incurred and presented gross if the Company is the primary obligor and, with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier and bears the associated credit risk. In instances where the operating lease agreement has an early termination option, the termination penalty is based on a predetermined termination fee or based on the unamortized tenant improvements and leasing commissions. The Company evaluates the collectability of rents and other receivables on a regular basis based on factors including, among others, payment history, credit rating, the asset type, and current economic conditions. If the Company’s evaluation of these factors indicates it may not recover the full value of the receivable, it provides an allowance against the portion of the receivable that it estimates may not be recovered. This analysis requires the Company to determine whether there are factors indicating a receivable may not be fully collectible and to estimate the amount of the receivable that may not be collected. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt allowance for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. Fair Value Measurements and Disclosures Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: Level 1: quoted prices in active markets for identical assets or liabilities; Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value for certain financial instruments is derived using a combination of market quotes, pricing models, and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of financial instrument for which it is practicable to estimate the fair value: Cash and cash equivalents; restricted cash; tenant receivables; purchase and other deposits; prepaid expenses and other assets; accounts payable, accrued and other liabilities; and due to affiliates: These balances approximate their fair values due to the short maturities of these items. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The proprietary model uses the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps are estimated using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit risks to the contracts, are incorporated in the fair values to account for potential nonperformance risk. Unsecured credit facility : The fair value of the Company’s unsecured credit facility approximates its carrying value as the interest rates are variable and the balances approximate their fair values due to the short maturities of this facility. Mortgage notes payable: The fair value of the Company’s mortgage notes payable is estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. The Company classifies these inputs as Level 3 inputs. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance may exceed federally insurable limits. The Company mitigates this risk by depositing funds with major financial institutions; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements or property taxes. Restricted cash as of December 31, 2018 and 2017 amounted to $3,503,242 and $944,582, respectively. Pursuant to lease agreements, the Company has obligations to pay for $3,535,163 and $1,899,485 in site and tenant improvements to be incurred by tenants as of December 31, 2018 and 2017, respectively, including a 72.7% share of the tenant improvements for the Santa Clara property. At December 31, 2018 and 2017, the Company’s restricted cash held to fund these improvements totaled $3,486,927 and $944,582, respectively. As of December 31, 2018, the Company also held restricted cash of $16,315 to fund an impounded property tax. Real Estate Investments Real Estate Acquisition Valuation The Company records acquisitions that meet the definition of a business as a business combination. If the acquisition does not meet the definition of a business, the Company records the acquisition as an asset acquisition. Under both methods, all assets acquired and liabilities assumed are measured based on their acquisition-date fair values. All acquisitions during 2018 and 2017 were treated as asset acquisitions. Transaction costs that are related to a business combination are charged to expense as incurred. Transaction costs that are related to an asset acquisition are capitalized as incurred. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles, and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining noncancelable term of above-market in-place leases plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining noncancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease-up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease up periods. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining term of the respective lease. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. Therefore, the Company classifies these inputs as Level 3 inputs. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income (loss). Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and depreciated or amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset and are expensed as incurred. Significant replacements and betterments are capitalized. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: • Buildings 29-48 years • Site improvements Shorter of 15 years or remaining lease term • Tenant improvements Shorter of 15 years or remaining lease term • Tenant origination and absorption costs, and above-/below-market lease intangibles Remaining lease term Impairment of Real Estate and Related Intangible Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of real estate and related intangible assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of real estate and related intangible assets may not be recoverable, management assesses whether the carrying value of the assets will be recovered through the future undiscounted operating cash flows expected from the use of and eventual disposition of the property. If, based on the analysis, the Company does not believe that it will be able to recover the carrying value of the asset, the Company will record an impairment charge to the extent the carrying value exceeds the estimated fair value of the asset. For the years ended December 31, 2018 and 2017, the Company did not record any impairment charges related to its real estate investments. Unconsolidated Investments The Company accounts for investments in entities over which the Company has the ability to exercise significant influence under the equity method of accounting. Under the equity method of accounting, an investment is initially recognized at cost and is subsequently adjusted to reflect the Company’s share of earnings or losses of the investee. The investment is also increased for additional amounts invested and decreased for any distributions received from the investee. Equity method investments are reviewed for impairment whenever events or circumstances indicate that the carrying amount of the investment might not be recoverable. If an equity method investment is determined to be other-than-temporarily impaired, the investment is reduced to fair value and an impairment charge is recorded as a reduction to earnings. Deferred Financing Costs Deferred financing costs represent commitment fees, financing coordination fees paid to Advisor, loan fees, legal fees, and other third-party costs associated with obtaining financing and are presented on the Company's balance sheet as a direct deduction from the carrying value of the associated debt liabilities. These costs are amortized to interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close. Unamortized deferred financing costs related to revolving credit facilities are reclassified to presentation as an asset in periods where there are no outstanding borrowings under the facility. Derivative Instruments The Company enters into derivative instruments for risk management purposes to hedge its exposure to cash flow variability caused by changing interest rates on its variable rate mortgage notes payable. The Company does not enter into derivatives for speculative purposes. The Company records these derivative instruments at fair value on the accompanying consolidated balance sheet. The Company’s mortgage derivative instruments do not meet the hedge accounting criteria and therefore the changes in the fair value are recorded as gains or losses on derivative instruments in the accompanying statement of operations. The gain or loss is included in interest expense. The Company enters into interest rate swaps as a fixed rate payer to mitigate its exposure to rising interest rates on its variable rate notes payable. The value of interest rate swaps is primarily impacted by interest rates, market expectations about interest rates, and the remaining life of the instrument. In general, increases in interest rates, or anticipated increases in interest rates, will increase the value of the fixed rate payer position and decrease the value of the variable rate payer position. As the remaining life of the interest rate swap decreases, the value of both positions will generally move towards zero. Distributions The Company intends, although is not legally obligated, to continue to make regular monthly distributions to holders of its shares at least at the level required to maintain REIT status unless the results of operations, general financial condition, general economic conditions or other factors inhibits the Company from doing so. Distributions are authorized at the discretion of the Company’s board of directors, which is directed, in substantial part, by its obligation to cause the Company to comply with the REIT requirements of the Internal Revenue Code. To the extent declared by the board of directors, distributions are payable on the 25th day of the following month declared. Should the 25th day fall on a weekend, distributions are payable on the first business day thereafter. Prior to January 19, 2018, to the extent distributions were declared by the board of directors, they were payable on the 10th day of the following month declared or on the first business day thereafter. The following presents the federal income tax characterization of the distributions paid: Years Ended December 31 2018 2017 Ordinary income $ 0.0352 $ 0.1110 Non-taxable distribution 0.6683 0.5890 Total $ 0.7035 $ 0.7000 Distribution Reinvestment Plan The Company has adopted the DRP through which common stockholders may elect to reinvest any amount up to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. Participants in the DRP acquire common stock at a price per share equal to the price to acquire a share of common stock in the Offering. The initial price of the Registered DRP Offering was $10.00 per share used through January 18, 2018.This price is expected to adjust during the course of the Registered DRP Offering on an annual basis to equal the NAV per share. Effective January 19, 2018, the Registered DRP Offering price was revised based on the estimated NAV to $10.05 per share and effective January 14, 2019, the Registered DRP Offering price was revised based on the estimated NAV to $10.16 (unaudited). Related Party Transactions The Company records all related party fees as incurred, subject to certain limitations described in the Company’s Advisory Agreement (see Note 8). Redeemable Common Stock The Company has adopted a share repurchase program that enables stockholders to sell their stock to the Company in limited circumstances. Stockholders who wish to avail themselves of the share repurchase program must notify the Company by three business days before the end of the month for their shares to be repurchased by the third business day of the following month. The share repurchase program provides that share repurchases may be funded by (a) distribution reinvestment proceeds, (b) the prior or future sale of shares, (c) indebtedness, including a line of credit and traditional mortgage financing, and (d) asset sales. The Company records amounts that are redeemable under the share repurchase program as redeemable common stock in its consolidated balance sheets because the shares are redeemable at the option of the holder and therefore their redemption is outside the control of the Company. When the Company determines it has a mandatory obligation to repurchase shares under the share repurchase program, it reclassifies such obligations from temporary equity to a liability based upon their respective settlement values. Through December 31, 2018, 1,147,573 shares had been tendered for redemption by the Company, which represented all redemption requests received in good order and eligible for redemption through December 31, 2018. All of these shares had been redeemed except for the 59,431 of shares in connection with the repurchase requests that were made in December 2018 and were repurchased on January 4, 2019. These shares were repurchased with the proceeds from reinvested dividends based on the NAV price of $10.05 per share according to the schedule of discounts below. In accordance with the Company’s share repurchase program for its Class C common stock, the per share repurchase price depends on the length of time the redeeming stockholder has held such shares as follows: (i.) less than one year from the purchase date, 97% of the most recently published NAV per share; (ii.) after at least one year but less than two years from the purchase date, 98% of the most recently published NAV per share; (iii.) after at least two years but less than three years from the purchase date, 99% of the most recently published NAV per share; and (iv.) after three years from the purchase date, 100% of the most recently published NAV per share. The Company’s most recently published NAV per share effective as of January 14, 2019 is $10.16 (unaudited). Prior to January 14, 2019, repurchases under the share repurchase program of the Company’s Class C common stock were made based on the original Primary Offering price of $10.00 through January 18, 2018 and then based on the estimated NAV of $10.05 per share effective January 19, 2018 through January 13, 2019, subject to the same discounts for the length of time such shares were held as described above. In accordance with the Company’s share repurchase program for its Class S common stock, shares of Class S common stock are not eligible for repurchase unless they have been held for at least one year. After this holding period has been met, Class S shares can be redeemed at the most recently published NAV, which is currently $10.16 per share (unaudited). Limitations on Repurchase The Company may, but is not required to, use available cash not otherwise dedicated to a particular use to pay the repurchase price, including cash proceeds generated from the dividend reinvestment plan, securities offerings, operating cash flow not intended for distributions, borrowings and capital transactions, such as asset sales or loan refinancings. The Company cannot guarantee that it will have sufficient available cash to accommodate all repurchase requests made in any given month. In addition, the Company may not repurchase shares in an amount that would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. Additional limitations on share repurchases under the share repurchase program are as follows: The Company is subject to the following limitations on the number of shares it may repurchase under the program: • Repurchases per month will be limited to no more than 2% of the Company’s most recently determined aggregate NAV. The Company generally anticipates that the NAV per share will be determined in the first quarter of each year, calculated as of the immediately preceding December 31. In the event the Merger is not completed until after December 31, 2019, however, our board of directors may, in its discretion, determine to calculate the NAV per share as of the closing of the Merger and the Self-Management Transactions in order to facilitate the most efficient and orderly process for the NAV per share determination that takes into account these transactions. Repurchases for any calendar quarter will be limited to no more than 5% of the Company’s most recently determined aggregate NAV, which means the Company will be permitted to repurchase shares with a value of up to an aggregate limit of approximately 20% of its aggregate NAV in any 12-month period. • The Company currently intends that the foregoing repurchase limitations will be based on “net repurchases” during a quarter or month, as applicable. The term “net repurchases” means the excess of the Company’s share repurchases (capital outflows) over the proceeds from the sale of its shares (capital inflows) for a given period. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1) 5% or 2% (as applicable) of the Company’s most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the offering (including purchases pursuant to its dividend reinvestment plan) since the beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month. • While the Company currently intends to calculate the foregoing repurchase limitations on a net basis, the Company’s board of directors may choose whether the 5% quarterly limit will be applied to “gross repurchases,” meaning that amounts paid to repurchase shares would not be netted against capital inflows. If repurchases for a given quarter are measured on a gross basis rather than on a net basis, the 5% quarterly limit could limit the number of shares redeemed in a given quarter despite us receiving a net capital inflow for that quarter. • In order for the Company’s board of directors to change the basis of repurchases from net to gross, or vice versa, the Company will provide notice to its stockholders in a prospectus supplement to the prospectus for the Registered Offering or current or periodic report filed with the SEC, as well as in a press release or on its website, at least 10 days before the first business day of the quarter for which the new test will apply. The determination to measure repurchases on a gross basis, or vice versa, will only be made for an entire quarter, and not particular months within a quarter. Advertising Costs Offering advertising costs charged to expense were $0 and $0 for the years ended December 31, 2018 and 2017, respectively, and are included in general and administrative expenses in the accompanying statements of operations. Advertising costs relating to the offering are paid by the Advisor. These amounts are reimbursed to the Advisor as organization and offering costs that they incurred on the Company’s behalf, see Note 8. Income Taxes The Company elected to be taxed as a REIT for U.S. federal income tax purposes under Section 856 through 860 of the Internal Revenue Code of 1986, as amended, beginning with its taxable year ended December 31, 2016. The Company expects to operate in a manner that will allow us to continue to qualify as a REIT for Federal income tax purposes. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including meeting various tests regarding the nature of our assets and our income, the ownership of our outstanding stock and distribution of at least 90% of the Company’s annual REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. The Company has concluded that there are no significant uncertain tax positions requiring recognition in its consolidated financial statements. Neither the Company nor its subsidiaries has been assessed interest or penalties by any major tax jurisdictions. The Company’s evaluations were performed for the tax years ended December 31, 2018 and 2017. As of December 31, 2018, the returns for calendar years 2015, 2016 and 2017 remain subject to examination by major tax jurisdictions. Other Comprehensive Loss For the years ended December 31, 2018 and 2017, other comprehensive loss is the same as net loss. Per Share Data Basic earnings per share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock equals basic earnings per share of common stock as there were no potentially dilutive securities outstanding for the years ended December 31, 2018 and 2017. We have presented net loss per share amounts on the accompanying statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for the allocating net los

CONSOLIDATED BALANCE SHEETS DET

CONSOLIDATED BALANCE SHEETS DETAILS (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Supplemental Details For Certain Consolidation Balance Sheet [Abstract]
CONSOLIDATED BALANCE SHEETS DETAILS	NOTE 3. CONDENSED CONSOLIDATED BALANCE SHEETS DETAILS Tenant Receivables Tenant receivables consisted of the following: June 30, 2019 December 31, 2018 Straight-line rent $ 2,915,852 $ 2,231,966 Tenant rent 76 312,171 Tenant reimbursements 1,065,650 1,019,355 Tenant other 164,761 95,622 Total $ 4,146,339 $ 3,659,114 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: June 30, 2019 December 31, 2018 Accounts payable $ 470,188 $ 227,793 Accrued expenses 1,612,897 1,421,197 Accrued dividends 896,291 749,170 Accrued interest payable 429,256 445,481 Unearned rent 749,865 827,338 Deferred commission payable 1,350 1,650 Tenant improvement obligation 104,385 3,492,084 Total $ 4,264,232 $ 7,164,713	NOTE 3. CONSOLIDATED BALANCE SHEETS DETAILS Tenant Receivables, Net Tenant receivables consisted of the following: December 31, 2018 2017 Straight-line rent $ 2,231,966 $ 995,822 Tenant rent 312,171 27,460 Tenant disbursements 1,019,355 239,813 Tenant other 95,622 — Total $ 3,659,114 $ 1,263,095 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: December 31, 2018 2017 Accounts payable $ 227,793 $ 244,430 Accrued expenses 1,421,197 568,881 Accrued dividends 749,170 2,427 Accrued interest payable 445,481 186,841 Unearned rent 827,338 548,266 Deferred commission payable 1,650 2,250 Lease incentive obligation 3,492,084 858,389 Total $ 7,164,713 $ 2,411,484

REAL ESTATE INVESTMENTS (FY)

REAL ESTATE INVESTMENTS (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	NOTE 4. REAL ESTATE INVESTMENTS, NET As of June 30, 2019, the Company’s real estate investment portfolio consisted of 24 operating properties and one parcel of land in 13 states, consisting of: (i) nine retail, (ii) 10 office and (iii) five industrial properties and (iv) one parcel of land, which currently serves as an easement to one of the Company’s office properties. The following table provides summary information regarding the Company’s real estate investment portfolio as of June 30, 2019: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Health Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,516,731 ) $ 9,392,753 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (997,540 ) 3,855,831 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (105,640 ) 1,292,474 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (135,196 ) 1,549,233 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (101,501 ) 1,205,089 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (97,316 ) 1,188,719 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (99,877 ) 1,113,852 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (97,041 ) 1,091,453 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,246,883 ) 8,356,897 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,794,441 ) 11,929,749 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (497,611 ) 5,810,758 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (734,877 ) 12,443,411 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (638,485 ) 10,437,230 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (591,123 ) 8,038,975 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (465,575 ) 7,078,614 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (335,108 ) 6,088,990 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (578,086 ) 12,276,062 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (1,070,027 ) 26,287,873 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (1,608,573 ) 15,510,607 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (960,095 ) 15,042,394 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (428,401 ) 12,229,909 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (235,372 ) 7,454,552 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (308,484 ) 10,534,423 Costco Issaquah, WA 12/20/2018 Office 27,263,632 2,765,136 (702,672 ) 29,326,096 $ 217,494,190 $ 17,717,819 $ (15,346,655 ) $ 219,865,354 Current Year Acquisitions and Dispositions The Company did not acquire or dispose of any property during the six months ended June 30, 2019. Prior Year Acquisitions During the six months ended June 30, 2018, the Company acquired the following properties: Property Acquisition Date Land Buildings and Improvements Tenant Origination and Absorption Costs Below- Market Lease Intangibles Total 3M 3/29/2018 $ 758,780 $ 14,004,039 $ 2,356,361 $ (1,417,483 ) $ 15,701,697 Cummins 4/4/2018 3,347,959 11,117,532 1,536,998 — 16,002,489 Northrop Grumman Parcel 6/21/2018 329,410 — — — 329,410 $ 4,436,149 $ 25,121,571 $ 3,893,359 $ (1,417,483 ) $ 32,033,596 Purchase price $ 32,033,596 Acquisition fees to affiliate (930,000 ) Cash paid for acquisition of real estate investments $ 31,103,596 The capitalized acquisition fees paid to the Advisor for properties acquired during the six months ended June 30, 2018 are as follows: Property Amount 3M $ 456,000 Cummins 465,000 Northrop Grumman Parcel 9,000 Total $ 930,000 The Company also paid the Advisor capitalized acquisition fees of $49,507 during the six months ended June 30, 2018 related to additions to real estate investments. During the three and six months ended June 30, 2018, the Company recognized $906,155 and $929,127, respectively, of total revenue related to the acquired properties. The non-cancelable lease terms of the properties acquired during the six months ended June 30, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023 The purchase price allocations reflected in the condensed consolidated financial statements are based upon estimates and assumptions at the time of acquisition that are subject to change which may impact the fair value of the assets and liabilities above (including real estate investments, other assets and accrued liabilities). Prior Year Disposition The Company did not dispose of any property during the six months ended June 30, 2018. Operating Leases The Company’s real estate properties are primarily leased to tenants under triple-net or double net leases for which terms and expirations vary. The Company monitors the credit of all tenants to stay abreast of any material changes in credit quality. The Company monitors tenant credit by (1) reviewing the credit ratings of tenants (or their parent companies or lease guarantors) that are rated by national recognized rating agencies; (2) reviewing financial statements and related metrics and information that are publicly available or that are required to be provided pursuant to the lease; (3) monitoring news reports and press releases regarding the tenants (or their parent companies or lease guarantors), and their underlying business and industry; and (4) monitoring the timeliness of rent collections. As of June 30, 2019, the future minimum contractual rent payments due to the Company under the Company’s non-cancelable operating leases, excluding any renewal periods, are as follows: July through December 2019 $ 8,838,687 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 2024 12,958,858 Thereafter 46,224,832 $ 131,447,201 Revenue Concentration The Company’s revenue concentration based on tenants representing greater than 10% of total revenues for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue Costco, Issaquah, WA $ 697,522 11.8 % $ — — % AvAir, Chandler, AZ $ 666,774 11.3 % $ 653,374 14.9 % 3M, DeKalb, IL $ — — % $ 506,229 11.5 % Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue Costco, Issaquah, WA $ 1,376,025 11.7 % $ — — % AvAir, Chandler, AZ $ 1,333,549 11.3 % $ 1,289,146 16.4 % Asset Concentration As of June 30, 2019 and December 31, 2018, the Company’s portfolio’s asset concentration (greater than 10% of total assets) was as follows: June 30, 2019 December 31, 2018 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets Costco, Issaquah, WA $ 29,326,096 11.7 % $ 29,974,716 11.9 % AvAir, Chandler, AZ $ 26,287,873 10.5 % $ 26,634,909 10.6 % Intangibles As of June 30, 2019, the Company’s lease intangibles were as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) Accumulated amortization (4,569,358 ) (247,390 ) 713,067 Net amount $ 13,148,461 $ 535,725 $ (2,358,186 ) The intangible assets acquired in connection with these acquisitions have a weighted average amortization period of approximately 7.4 years as of June 30, 2019. The amortization of intangible assets over the next five years is expected to be as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles July through December 2019 $ 1,396,105 $ 48,524 $ (237,195 ) 2020 2,792,209 97,045 (474,391 ) 2021 2,375,949 78,994 (474,391 ) 2022 1,839,880 63,719 (306,829 ) 2023 1,214,116 63,719 (78,369 ) 2024 1,066,544 63,719 (67,420 ) Thereafter 2,463,658 120,005 (719,591 ) $ 13,148,461 $ 535,725 $ (2,358,186 ) Weighted-average remaining amortization period 7.0 years 6.8 years 9.7 years	NOTE 4. REAL ESTATE INVESTMENTS As of December 31, 2018, the Company’s real estate investment portfolio consisted of 24 operating properties located in 13 states consisting of: (i) 10 retail, (ii) nine office, (iii) five industrial and (iv) one parcel of land, which currently serves as an easement to one of the Company’s office properties. The following table provides summary information regarding the Company’s real estate portfolio as of December 31, 2018: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,265,678 ) $ 9,643,806 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (833,561 ) 4,019,810 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (85,518 ) 1,312,596 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (109,445 ) 1,574,984 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (82,167 ) 1,224,423 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (78,780 ) 1,207,255 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (80,853 ) 1,132,876 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (78,557 ) 1,109,937 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,001,594 ) 8,602,186 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,402,927 ) 12,321,263 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (389,042 ) 5,919,327 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (562,523 ) 12,615,765 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (461,240 ) 10,614,475 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (435,346 ) 8,194,752 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (343,275 ) 7,200,914 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (245,453 ) 6,178,645 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (399,615 ) 12,454,533 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (722,991 ) 26,634,909 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (985,899 ) 16,133,281 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (562,814 ) 15,439,675 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (204,887 ) 12,453,423 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (86,716 ) 7,603,208 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (90,731 ) 10,752,176 Costco Issaquah, WA 12/20/2018 Retail 27,263,632 2,765,136 (54,052 ) 29,974,716 $ 217,494,190 $ 17,717,819 $ (10,563,664 ) $ 224,648,345 Acquisitions Fiscal 2018 During the year ended December 31, 2018, the Company acquired the following properties: Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total 3M $ 758,780 $ 14,004,039 $ 2,356,361 $ — $ (1,417,483 ) $ 15,701,697 Cummins 3,347,959 11,117,531 1,536,998 — — 16,002,488 Northrop Grumman Parcel 329,410 — — — — 329,410 24 Hour Fitness 3,121,985 8,331,352 1,204,974 — — 12,658,311 Texas Health 1,827,914 5,148,789 713,221 — — 7,689,924 Bon Secours 1,658,659 8,383,892 800,356 — — 10,842,907 Costco 8,202,915 19,060,717 2,765,136 — — 30,028,768 $ 19,247,622 $ 66,046,320 $ 9,377,046 $ — $ (1,417,483 ) $ 93,253,505 Purchase price and other acquisition costs $ 93,253,505 Acquisition fees to affiliate (2,702,043 ) Acquisition of real estate before financing $ 90,551,462 Capitalized acquisition fees paid to the Advisor for properties acquired during the year ended December 31, 2018 are as follows: Property Amount 3M $ 456,000 Cummins 465,000 Northrop Grumman Parcel 9,000 24 Hour Fitness 366,000 Texas Health 222,750 Bon Secours 313,293 Costco 870,000 Total $ 2,702,043 The Company also paid the Advisor capitalized acquisition fees of $50,296 during the year ended December 31, 2018 related to additions to real estate investments. During the year ended December 31, 2018, the Company recognized $3,773,997 of total revenue related to these recently-acquired properties. The noncancellable lease terms of the properties acquired during the year ended December 31, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023 24 Hour Fitness 3/31/2030 Texas Health 12/31/2025 Bon Secours 8/31/2026 Costco 7/31/2025 (1) (1) The tenant’s right to cancel the lease on July 31, 2023 was not determined to be probable for financial accounting purposes. Fiscal 2017 During the year ended December 31, 2017, the Company acquired the following properties. Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total Northrop Grumman $ 1,191,024 $ 11,191,967 $ 1,341,199 $ — $ — $ 13,724,190 exp US Services 785,801 5,134,320 388,248 616,486 — 6,924,855 Harley 1,145,196 12,033,092 — — — 13,178,288 Wyndham 4,144,069 5,303,201 669,232 — — 10,116,502 Williams Sonoma 3,546,744 3,478,337 550,486 — (364,555 ) 7,211,012 Omnicare 800,772 6,242,156 281,442 — — 7,324,370 EMCOR 427,589 5,533,021 463,488 — (285,562 ) 6,138,536 Husqvarna 974,663 10,866,481 1,013,948 — (852,044 ) 12,003,048 AvAir 3,493,673 23,859,451 — — — 27,353,124 $ 16,509,531 $ 83,642,026 $ 4,708,043 $ 616,486 $ (1,502,161 ) $ 103,973,925 Purchase price and other acquisition costs $ 103,973,925 Purchase deposits applied (500,000 ) Acquisition fees to affiliate (3,015,057 ) Acquisition of real estate before financing $ 100,458,868 Capitalized acquisition fees paid to the Advisor for properties acquired during the year ended December 31, 2017 are as follows: Property Northrop Grumman $ 398,100 exp US Services 200,837 Harley 382,500 Wyndham 292,970 Williams Sonoma 209,165 Omnicare 211,275 EMCOR 177,210 Husqvarna 348,000 AvAir 795,000 Total $ 3,015,057 The Company also paid the Advisor capitalized acquisition fees of $20,555 during the year ended December 31, 2017 for additions to real estate investments. During the year ended December 31, 2017, the Company recognized $4,413,353 of total revenue related to these properties. The noncancellable lease terms of the properties acquired during the year ended December 31, 2017 are as follows: Property Lease Expiration Northrop Grumman 5/31/2021 exp US Services 11/30/2026 Harley 4/12/2032 Wyndham 2/28/2025 Williams Sonoma 10/31/2022 Omnicare 5/31/2026 EMCOR 2/28/2027 Husqvarna 6/30/2027(1) AvAir 12/31/2032 (1) The tenant’s right to cancel lease on June 30, 2025 was not determined to be probable for financial accounting purposes. Asset Concentration The Company’s portfolio asset concentration as of December 31 was as follows (greater than 10% of total assets): 2018 2017 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets AvAir, Chandler, AZ $ 26,634,909 10.6 % $ 27,353,125 17.4 % Costco, Issaquah, WA $ 29,974,716 11.9 % $ — — Revenue Concentration The Company’s revenue concentration based on tenants representing greater than 10% of total revenues for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue AvAir, Chandler, AZ $ 2,670,159 14.8 % $ 2,100,000 19.9 % Northrop Grumman, Melbourne, FL $ — — $ 1,162,274 11.0 % Operating Leases The Company’s real estate properties are primarily leased to tenants under triple-net leases for which terms and expirations vary. The Company monitors the credit of all tenants to stay abreast of any material changes in credit quality. The Company monitors tenant credit by (1) reviewing the credit ratings of tenants (or their parent companies or lease guarantors) that are rated by national recognized rating agencies; (2) reviewing financial statements and related metrics and information that are publicly available or that are required to be provided pursuant to the lease; (3) monitoring news reports and press releases regarding the tenants (or their parent companies or lease guarantors), and their underlying business and industry; and (4) monitoring the timeliness of rent collections. As of December 31, 2018, the future minimum contractual rent payments due under the Company’s operating leases, excluding any renewal periods, are as follows: 2019 $ 17,588,378 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 Thereafter 59,183,690 $ 140,196,892 Intangibles As of December 31, 2018 and 2017, the Company’s intangible assets were as follows: 2018 2017 Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) $ 8,340,774 $ 783,115 $ (1,653,771 ) Accumulated amortization (3,173,254 ) (198,867 ) 475,871 (1,192,318 ) (101,822 ) 69,542 Net amount $ 14,544,565 $ 584,248 $ (2,595,382 ) $ 7,148,456 $ 681,293 $ (1,584,229 ) The intangible assets acquired in connection with these acquisitions have a weighted average amortization period of approximately 7.6 Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles 2019 $ 2,792,209 $ 97,045 $ 474,391 2020 2,792,209 97,045 474,391 2021 2,375,950 78,994 474,391 2022 1,839,880 63,720 306,829 2023 1,214,116 63,719 78,370 Thereafter 3,530,201 183,725 787,010 $ 14,544,565 $ 584,248 $ 2,595,382 Weighted-Average Remaining Amortization Period 7.2 years 7.2 years 9.8 years

INVESTMENTS IN UNCONSOLIDATED E

INVESTMENTS IN UNCONSOLIDATED ENTITIES (FY)	12 Months Ended
	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN UNCONSOLIDATED ENTITIES	NOTE 5. INVESTMENTS IN UNCONSOLIDATED ENTITIES The Company’s investments in unconsolidated entities are as follows: December 31, 2018 2017 The TIC Interest (1) $ 10,749,332 $ 11,103,547 Rich Uncles Real Estate Investment Trust I (“REIT I”) 3,526,483 3,420,475 $ 14,275,815 $ 14,524,022 (1) The Company’s investment includes $626,073 of acquisition fees paid to affiliate (see Note 8). The Company’s income (loss) from investments in unconsolidated entities is as follows: Years Ended December 31, 2018 2017 The TIC Interest $ 269,191 $ 30,038 REIT I (43,167 ) 169,195 $ 226,024 $ 199,233 The TIC Interest On September 28, 2017, the Company, through a wholly-owned subsidiary of the Operating Partnership, acquired the 72.7% TIC Interest. The remaining approximate 27.3% undivided interest in the Santa Clara property is held by Hagg Lane II, LLC (an approximate 23.4%) and the Hagg Lane III, LLC (an approximate 3.9%). The manager of Hagg Lane II, LLC and Hagg Lane III, LLC is a board member of the Sponsor. The Santa Clara property does not qualify as a variable interest entity and consolidation is not required as the Company's TIC Interest does not control the property. Therefore, the Company accounts for the TIC Interest using the equity method. The Company receives approximately 72.7% of the cash flow distributions and recognizes approximately 72.7% of the results of operations. During the years ended December 31, 2018 and 2017, the Company received $623,406 and $95,158 in cash distributions, respectively. The following is summarized financial information for the Santa Clara property: December 31, 2018 2017 Assets: Real estate investments, net $ 31,668,300 $ 32,587,034 Cash and cash equivalents 466,379 615,436 Other assets 117,075 103,700 Total assets $ 32,251,754 $ 33,306,170 Liabilities: Mortgage notes payable, net $ 13,994,844 $ 14,235,256 Below-market lease, net 3,103,778 3,247,480 Other liabilities 61,188 246,085 Total liabilities 17,159,810 17,728,821 Total equity 15,091,944 15,577,349 Total liabilities and equity $ 32,251,754 $ 33,306,170 Year Ended December 31, 2018 Period From September 28, 2017 Through December 31, 2017 Total revenue $ 2,678,110 $ 757,850 Expenses: Depreciation and amortization 584,059 154,339 Interest expense 991,621 410,722 Other expense 730,448 151,477 Total expenses 2,306,128 716,538 Net income $ 371,982 $ 41,312 REIT I The Company’s investment in REIT I represented an approximate 4.80% and 4.40% ownership interest as of December 31, 2018 and, 2017 respectively. The Company recorded its share of income (loss) of REIT I based on REIT I’s results of operations for the years ended December 31, 2018 and 2017. For the year ended December 31, 2017, income from REIT I reflected in the Company’s statement of operations includes $109,309 related to periods prior to January 1, 2017. During the years ended December 31, 2018 and 2017, the Company received $273,264 and $272,528 in cash distributions, respectively, related to its investment in REIT I. The following is summarized financial information for REIT I: December 31, 2018 2017 Assets: Real estate investments, net $ 125,075,537 $ 131,166,670 Cash and cash equivalents and restricted cash 3,376,145 6,027,807 Other assets 3,070,475 2,658,777 Total assets $ 131,522,157 $ 139,853,254 Liabilities: Mortgage notes payable, net $ 61,446,068 $ 62,277,387 Below-market lease, net 3,105,843 3,966,008 Other liabilities 3,359,618 2,937,247 Total liabilities 67,911,529 69,180,642 Redeemable common stock 163,572 586,242 Total shareholders' equity 63,447,056 70,086,370 Total liabilities, redeemable common stock and stockholders' equity $ 131,522,157 $ 139,853,254 Years Ended December 31, 2018 2017 Total revenue $ 13,166,631 $ 12,837,755 Expenses: Depreciation and amortization 5,783,643 5,654,451 Interest expense 2,813,430 2,503,810 Other expense 4,603,963 4,033,242 Impairment of real estate investment property 862,190 — Total expenses 14,063,226 12,191,503 Other income: Gain on sale of real estate investment property, net — 747,957 Other income — 838 Total other income — 748,795 Net (loss) income $ (896,595 ) $ 1,395,047

DEBT (FY)

DEBT (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT	NOTE 6. DEBT Mortgage Notes Payable As of June 30, 2019 and December 31, 2018, the Company’s mortgage notes payable consisted of the following: Collateral Principal Amount June 30, 2019 Principal Amount December 31, 2018 Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo/Walgreen properties $ 6,925,661 $ 6,996,469 3.95 % 3.95 % 7/1/2021 Dana property 4,592,001 4,632,398 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,852,196 3,885,334 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,769,600 5,820,600 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,573,200 4,615,800 One-month LIBOR+2.05% 4.05 % 6/5/2022 Omnicare property 4,311,660 4,349,963 4.36 % 4.36 % 5/1/2026 Harley property 6,808,386 6,868,254 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,738,558 5,809,367 4.40 % 4.40 % 3/2/2021 EMCOR property 2,887,126 2,911,577 4.35 % 4.35 % 12/1/2024 exp US Services property 3,416,049 3,446,493 (3 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 6,379,182 (4 ) 4.60 % 2/20/2028 AvAir property 14,575,000 14,575,000 (5 ) 4.84 % 3/27/2028 3M property 8,350,000 8,360,000 One-month LIBOR+2.25% 5.09 % 3/29/2023 Cummins property 8,519,800 8,530,000 One-month LIBOR+2.25% 5.16 % 4/4/2023 24 Hour Fitness property (6) 6,333,666 8,900,000 4.64 % 4.64 % 4/1/2049 Texas Health property (7) — 4,842,500 One-month LIBOR+4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 5,250,000 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 18,850,000 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 117,132,085 125,022,937 Less unamortized deferred financing costs (2,099,104 ) (2,313,629 ) $ 115,032,981 $ 122,709,308 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of June 30, 2019. Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 consisting of the contractual interest rate and the effect of the interest rate swap, if applicable. For further information regarding the Company’s derivative instruments, see Note 7. (2) The loans on each of the Williams Sonoma and Wyndham properties (collectively, the "Property") located in Summerlin, Nevada were originated by Nevada State Bank ("Bank"). The loans are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the loans, is an event of default under the terms of both loans. The value of the Property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the loan to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the loans so that the loan to value ratio is no more than 60%. (3) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (4) The initial contractual interest rate is 4.60% for the first five years and starting February 21, 2023, the interest rate is the greater of 4.60% or five-year Treasury Constant Maturity ("TCM") plus 2.45% for the second five years. (5) The initial contractual interest rate is 4.84% for the first five-years and starting March 28, 2023, the interest rate is the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (6) The loan refinancing on March 7, 2019 reduced the principal amount outstanding and the rate and extended the maturity. The interest rate for the note payable outstanding as of June 30, 2019 adjusts in the 133rd, 253rd and 313th months. (7) The loan was fully repaid on the March 13, 2019 maturity date. The following were the face value, carrying amount and fair value of the Company’s mortgage notes payable (Level 3 measurement): June 30, 2019 December 31, 2018 Face Value Carrying Value Fair Value Face value Carrying Value Fair Value Mortgage notes payable $ 117,132,085 $ 115,032,981 $ 123,128,492 $ 125,022,937 $ 122,709,308 $ 123,821,490 Disclosures of the fair values of financial instruments are based on pertinent information available to the Company as of the period end and require a significant amount of judgment. The actual value could be materially different from the Company’s estimate of value. Unsecured Credit Facility The Company, together with the Operating Partnership and NNN LP ("Borrowers"), has a Business Loan Agreement and Promissory Note (the "Unsecured Credit Facility") with Pacific Mercantile Bank ("Lender"). The Unsecured Credit Facility was a revolving unsecured line of credit for a maximum principal amount of $9,000,000 and was scheduled to mature on January 26, 2019, unless earlier terminated. The Borrowers received extensions of the Unsecured Credit Facility through April 30, 2019. On April 30, 2019, Borrowers entered into a new Loan Agreement (the "New Credit Facility") with Lender. The New Credit Facility replaces the $9,000,000 unsecured line of credit with Lender, which expired on April 30, 2019. The New Credit Facility is a revolving unsecured line of credit for a maximum principal amount of $10,000,000 and matures on October 1, 2020, unless earlier terminated. The New Credit Facility has similar terms to the expired facility. The New Credit Facility is secured by a continuing guaranty executed by the Company’s Sponsor and Advisor, along with springing guaranties executed by Raymond E. Wirta, Chairman of the Board of the Company, and a trust belonging to Mr. Wirta, each in the amount of $10,000,000. Mr. Wirta’s guaranties become effective upon certain triggering events, including the failure by Borrowers to pay one or more subsequent advances within 90 days of disbursement or an event of default under the New Credit Facility. Under the terms of the New Credit Facility, Borrowers pay a variable rate of interest on outstanding amounts equal to one (1) percentage point over an independent index published in The Wall Street Journal based on the highest rate on corporate loans posted by at least 75% of the largest banks (the "Index"). The interest rate was 6.50% as of June 30, 2019 and December 31, 2018. The New Credit Facility contains customary representations, warranties and covenants. The Company’s ability to borrow under the New Credit Facility is subject to its ongoing compliance with various affirmative and negative covenants, including with respect to indebtedness, guaranties, mergers and asset sales, liens, dividends, corporate existence and financial reporting obligations. The New Credit Facility also contains customary events of default, including, without limitation, nonpayment of principal, interest, fees or other amounts when due, violation of covenants, breaches of representations or warranties and change of ownership. Upon the occurrence of an event of default, Lender may accelerate the repayment of amounts outstanding under the New Credit Facility and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. As of June 30, 2019 and December 31, 2018 the Company had $0 and $9,000,000 of outstanding borrowings, respectively, under the New Credit Facility and Unsecured Credit Facility, as then in effect. All Debt Agreements Pursuant to the terms of mortgage notes payable on certain of the Company’s properties and the Unsecured Credit Facility, the Company and/or the Borrowers are subject to certain financial loan covenants. The Company and/or the Borrowers were in compliance with all terms and conditions of the applicable loan agreements as of June 30, 2019. The following summarizes the future principal repayments of the Company’s mortgage notes payable and New Credit Facility as of June 30, 2019: Mortgage Note Payable New Credit Facility Total July through December 2019 $ 637,333 $ — $ 637,333 2020 1,523,095 — 1,523,095 2021 8,223,343 — 8,223,343 2022 14,617,593 — 14,617,593 2023 21,247,852 — 21,247,852 2024 12,966,778 — 12,966,778 Thereafter 57,916,091 — 57,916,091 Total principal 117,132,085 — 117,132,085 Less: Deferred financing costs, net (2,099,104 ) — (2,099,104 ) Net principal $ 115,032,981 $ — $ 115,032,981 Interest Expense The following is a reconciliation of the components of interest expense for the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Mortgage notes payable: Interest expense $ 1,368,662 $ 996,756 $ 2,845,158 $ 1,822,477 Amortization of deferred financing costs 109,071 98,648 379,593 505,534 Loss (gain) on interest rate swaps (1) 562,571 15,877 890,385 (213,389 ) Unsecured credit facility: Interest expense 27,918 83,408 111,436 166,397 Amortization of deferred financing costs 8,503 8,571 10,503 12,857 Total interest expense $ 2,076,725 $ 1,203,260 $ 4,237,075 $ 2,293,876 (1) Includes unrealized loss (gain) on interest rate swaps of $553,490 and $6,235 for the three months ended June 30, 2019 and 2018, respectively, and $874,016 and $(220,571) for the six months ended June 30, 2019 and 2018, respectively, (see Note 7). Accrued interest payable, net of $4,208 and $5,950 at June 30, 2019 and December 31, 2018, respectively, represents the unsettled portion of the interest rate swaps from the last settlement period through the respective balance sheet dates.	NOTE 6. DEBT Mortgage Notes Payable As of December 31, 2018 and 2017, the Company’s mortgage notes payable consisted of the following: Collateral 2018 Principal Balance 2017 Principal Balance Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo Health/Walgreen properties $ 6,996,469 $ 7,133,966 3.95 % 3.95 % 7/1/2021 Dana property 4,632,398 4,709,889 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,885,334 3,951,846 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,820,600 5,920,800 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,615,800 4,699,200 One-month LIBOR+2.05% 4.34 % 6/5/2022 Omnicare property 4,349,963 4,423,574 4.36 % 4.36 % 5/1/2026 Harley property 6,868,254 6,983,418 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,809,367 5,945,655 4.40 % 4.40 % 3/2/2021 EMCOR property 2,911,577 2,955,000 4.35 % 4.35 % 12/1/2024 exp US Services property 3,446,493 3,505,061 (4 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 — (5 ) 4.60 % 2/20/2028 AvAir property (3) 14,575,000 12,000,000 (6 ) 4.84 % 3/27/2028 3M property 8,360,000 — One-month LIBOR +2.25% 5.09 % 3/29/2023 Cummins property 8,530,000 — One-month LIBOR +2.25% 5.16 % 4/4/2023 24 Hour Fitness property 8,900,000 — One-month LIBOR +4.30% 6.56 % 3/17/2019 Texas Health property 4,842,500 — One-month LIBOR +4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 — 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 — 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 125,022,937 62,228,409 Less unamortized deferred financing costs (2,313,629 ) (1,741,106 ) Mortgage notes payable, net $ 122,709,308 $ 60,487,303 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of December 31, 2018. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2018 (consisting of the contractual interest rate and the effect of the interest rate swap, if applicable). For further information regarding the Company’s derivative instruments (see Note 7). (2) The notes on each of the Williams Sonoma and Wyndham properties (collectively, the “Property”) located in Summerlin, Nevada were originated by Nevada State Bank (“Bank”). The notes are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the notes is an event of default under the terms of both notes. The value of the property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the note to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the notes so that the note to value ratio is no more than 60%. (3) On March 27, 2018, the Company refinanced the mortgage note payable as of December 31, 2017 with a new note for $14,575,000 through a nonaffiliated lender. The note is secured by the AvAir property and it matures on March 27, 2028. (4) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (5) The initial contractual interest rate is 4.60% for the first five years and the greater of 4.60% or five-year Treasury Constant Maturity (“TCM”) plus 2.45% for the second five years. (6) The initial contractual interest rate for the note payable outstanding as of December 31, 2018 is 4.84% for the first five-years and the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (7) On March 7, 2019, the Company refinanced the mortgage note payable as of March 17, 2019 with a new note for $6,350,000 through a nonaffiliated lender. The new note is secured by the 24 Hour Fitness property and it matures on March 7, 2049. (8) On March 13, 2019, the Company repaid this mortgage note payable with borrowings under its unsecured line of credit. The following were the face value, carrying amount and fair value of the Company’s mortgage notes payable as of December (Level 3 measurement): 2018 2017 Face Value Carrying Value Fair Value Face Value Carrying Value Fair Value Mortgage notes payable $ 125,022,937 $ 122,709,308 $ 123,821,490 $ 62,228,409 $ 60,487,303 $ 62,363,284 Disclosures of the fair values of financial instruments is based on pertinent information available to the Company as of the period end and require a significant amount of judgment. The actual value could be materially different from the Company’s estimate of value. Unsecured Credit Facility On February 1, 2018, the Company, together with the Operating Partnership and Rich Uncles NNN LP, LLC (“Borrowers”), entered into a Business Loan Agreement and Promissory Note (the “Unsecured Credit Facility”) with Pacific Mercantile Bank (“Lender”). The Unsecured Credit Facility replaced the $12,000,000 unsecured line of credit with Lender, which expired on January 26, 2018 (the “Former Credit Facility”). The Unsecured Credit Facility is a revolving unsecured line of credit for a maximum principal amount of $9,000,000 and was scheduled to mature on January 26, 2019, unless earlier terminated. Under the terms of the Unsecured Credit Facility, Borrowers pay a variable rate of interest on outstanding amounts equal to one (1) percentage point over an independent index published in The Wall Street Journal based on the highest rate on corporate loans posted by at least 75% of the largest banks (the “Index”). Based upon the Index as of the date of the Unsecured Credit Facility, the interest rate under the Unsecured Credit Facility was 6.5% as of December 31, 2018. The Borrowers received extensions of the Unsecured Credit Facility until April 30, 2019 as discussed in Note 10. The Unsecured Credit Facility contains customary representations, warranties and covenants, which are substantially similar to those in the Former Credit Facility. The Company’s ability to borrow under the Unsecured Credit Facility will be subject to its ongoing compliance with various affirmative and negative covenants, including with respect to indebtedness, guaranties, mergers and asset sales, liens, dividends, corporate existence and financial obligations. The Unsecured Credit Facility also contains customary events of default, including, without limitation, nonpayment of principal, interest, fees or other amounts when due, violation of covenants, breaches of representations or warranties and change of ownership. Upon the occurrence of an event of default, Lender may accelerate the repayment of amounts outstanding under the Unsecured Credit Facility and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. The Unsecured Credit Facility is secured by guaranties executed by Raymond E. Wirta, Chairman of the Board of the Company, a trust belonging to Mr. Wirta, Harold C. Hofer, and a trust belonging to Mr. Hofer, each in the amount of $9,000,000. Such guaranties become effective upon certain triggering events, including an event of default under the Unsecured Credit Facility and the failure by Borrowers to pay one or more subsequent advances within 90 days of disbursement. As of December 31, 2018, the Company’s current Unsecured Credit Facility had total outstanding borrowings of $9,000,000. As of December 31, 2017, the Company’s Former Credit Facility had total outstanding borrowings of $12,000,000. All Debt Agreements Pursuant to the terms of mortgage notes payable on certain of the Company’s properties and the Unsecured Credit Facility, the Company and/or the Borrowers are subject to certain financial loan covenants. The Company and/or the Borrowers were in compliance with all terms and conditions of the applicable loan agreements as of December 31, 2018. The following summarizes the future principal repayments of the Company’s mortgage notes payable and Unsecured Credit Facility as of December 31, 2018: Mortgage Notes Payable Unsecured Credit Facility Total 2019 $ 14,852,271 $ 9,000,000 (1) $ 23,852,271 2020 1,435,312 — 1,435,312 2021 8,130,359 — 8,130,359 2022 14,516,126 — 14,516,126 2023 21,115,026 — 21,115,026 Thereafter 64,973,843 — 64,973,843 Total principal 125,022,937 9,000,000 134,022,937 Deferred financing costs, net (2,313,629 ) (2,000 ) (2,315,629 ) Total $ 122,709,308 $ 8,998,000 $ 131,707,308 (1) The maturity date of the outstanding borrowings under the Company's Unsecured Credit Facility was extended to April 30, 2019, as discussed in Note 10. Interest Expense The following is a reconciliation of the components of interest expense: Year Ended December 31, 2018 2017 Mortgage notes payable: Interest expense $ 4,065,686 $ 1,191,351 Amortization of deferred financing costs 897,535 168,546 Loss (gain) on interest rate swaps (1) 261,198 (1,668 ) Unsecured credit facility: Interest expense 323,409 248,637 Amortization of deferred financing costs 30,000 1,118 Forfeited loan fee — 30,000 Total interest expense $ 5,577,828 $ 1,637,984 (1) Includes unrealized loss (gain) on interest rate swaps of $157,613 and $(7,899) for years ended December 31, 2018 and 2017, respectively, (see Note 7). Accrued interest payable of $7,649 and $6,231 at December 31, 2018 and 2017, respectively, represents the unsettled portion of the interest rate swaps for the period from origination of the interest rate swap through the respective balance sheet dates.

INTEREST RATE SWAP DERIVATIVES

INTEREST RATE SWAP DERIVATIVES (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
INTEREST RATE SWAP DERIVATIVES	NOTE 7. INTEREST RATE SWAP DERIVATIVES The Company, through its wholly-owned limited liability company subsidiaries, has entered into interest rate swap agreements with amortizing notional amounts relating to four of its mortgage notes payable. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks. The following table summarizes the notional amount and other information related to the Company’s interest rate swaps: June 30, 2019 December 31, 2018 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,212,600 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.71 % 4.6 years 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of June 30, 2019 was $24,967,299. (ii) The reference rate as of June 30, 2019. (iii) The reference rate as of December 31, 2018. The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the condensed consolidated balance sheets: June 30, 2019 December 31, 2018 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value — $ — 2 $ 151,215 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 4 $ (1,023,730 ) 2 $ (300,929 ) The change in fair value of a derivative instrument that is not designated as a cash flow hedge for financial accounting purposes is recorded as interest expense in the condensed consolidated statements of operations. None of the Company’s derivatives at June 30, 2019 or December 31, 2018 were designated as hedging instruments; therefore, the net unrealized loss (gain) recognized on interest rate swaps of $553,490 and $6,235 was recorded as an increase (decrease) in interest expense for the three months ended June 30, 2019 and 2018, respectively, and $874,016 and $(220,571) was recorded as an increase (decrease) in interest expense for the six months ended June 30, 2019 and 2018, respectively (see Note 6).	NOTE 7. INTEREST RATE SWAP DERIVATIVES The Company, through its wholly-owned limited liability company subsidiaries, has entered into interest rate swap agreements with amortizing notational amounts relating to four of its mortgage notes payable. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks. The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of December 31, 2018 and 2017. 2018 2017 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years 2 $ 10,620,000 One-month LIBOR + applicable spread/Fixed at 4.05%-4.34% 4.21 % 7.2 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of December 31, 2018 was $24,936,799. (ii) The reference rate was December 31, 2018. (iii) The reference rate was December 31, 2017. The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the consolidated balance sheets: December 31, 2018 December 31, 2017 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value 2 $ 151,215 2 $ 7,899 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 2 $ (300,929 ) — $ — The change in fair value of a derivative instrument that is not designated as a cash flow hedge for financial accounting purposes is recorded as interest expense in the consolidated statements of operations. None of the Company’s derivatives at December 31, 2018 or 2017 were designated as hedging instruments; therefore, the net unrealized losses (gains) recognized on interest rate swaps of $157,613 and ($7,899), respectively, was recorded as an increase (decrease) in interest expense for year ended December 31, 2018 and 2017, respectively (see Note 6).

RELATED PARTY TRANSACTIONS (FY)

RELATED PARTY TRANSACTIONS (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 8. RELATED PARTY TRANSACTIONS The Company pays the members of its board of directors who are not executive officers for services rendered by issuing shares of Class C common stock to them. The total amount paid was $55,000 and $43,215 for the three months ended June 30, 2019 and 2018, respectively, for which the Company issued 5,414 and 4,300 shares, respectively and $105,000 and $81,405 for the six months ended June 30, 2019 and 2018, respectively, for which the Company issued 10,335 and 8,100 shares, respectively. The Company also accrued $71,667 for directors fees earned in the second quarter of 2019 and paid in the third quarter of 2019. The Company has entered into an agreement (as amended, the "Advisory Agreement") with the Advisor. On August 9, 2019, the Advisory Agreement was further amended to delete the subordinated participation fee from the agreement. On August 9, 2019, the board of directors of the Company, including all of the independent directors, also approved renewing the Advisory Agreement, which was scheduled to expire on August 11, 2019 to December 31, 2019. This Advisory Agreement entitles the Advisor to specified fees upon the provision of certain services with regard to investments in real estate and the management of those investments, among other services, and the disposition of investments, as well as entitling the Advisor to reimbursement of organizational and offering costs incurred by the Advisor or Sponsor on behalf of the Company, such as expenses related to the Offerings, and certain costs incurred by the Advisor or Sponsor in providing services to the Company. In addition, the Advisor is entitled to certain other fees as detailed in the Advisory Agreement. The Sponsor also serves as the sponsor for REIT I and BRIX REIT, Inc. ("BRIX REIT"). During the three and six months ended June 30, 2019 and 2018, no business transactions occurred between the Company and REIT I, or BRIX REIT, other than as described below or elsewhere herein, and those relating to the Company’s investment in REIT I described in Note 5. Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the three and six months ended June 30, 2019 and 2018: Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 June 30, 2018 December 31, 2018 Incurred Incurred Receivable Payable Incurred Incurred Receivable Payable Expensed: Asset management fees (1) $ 680,019 $ 1,360,037 $ — $ — $ 477,915 $ 879,230 $ — $ — Subordinated participation fees — — — — — — — 839,050 Operating expense reimbursements (2) 132,000 264,000 — — — — — — Fees to affiliates 812,019 1,624,037 477,915 879,230 Property management fees* 56,122 112,072 — — 19,212 32,151 — 96,792 Directors and officers insurance and other reimbursements** 70,785 133,675 — — 36,083 52,716 — 30,164 Expense reimbursements (from) to Sponsor (3) (148,233 ) (236,232 ) 4,236 2,313 (293,939 ) (653,453 ) 16,838 — Capitalized: Acquisition fees — — — — 496,358 952,358 — — Financing coordination fees — 63,500 — — — 209,550 — — Reimbursable organizational and offering expenses (4) — — — 27,969 386,053 816,297 — 13,168 $ 4,236 $ 30,282 $ 16,838 $ 979,174 * Property management fees are classified within property operating expenses in the condensed consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses in the condensed consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the three and six months ended June 30, 2019 and 2018, the Advisor did not waive any of the asset management fees. In addition to amounts presented in this table, the Company also incurred asset management fees to the Advisor of $47,977 and $47,977 related to the TIC Interest during the three months ended June 30, 2019 and 2018, respectively, which amounts are reflected as a reduction of income recognized from investments in unconsolidated entities and $95,953 and $95,953 during the six months ended June 30, 2019 and 2018, respectively (see Note 5). (2) Reflects reimbursement for personnel and overhead costs billed by the Advisor in compliance with the 2%/25% Limitation. (3) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See " Investor Relations Payroll Expense Reimbursement from Sponsor" . (4) As of June 30, 2019, the Sponsor had incurred $8,815,104 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds resulting in a total reimbursement amount of $5,120,687 as of June 30, 2019. Organizational and Offering Expenses The Company is obligated to reimburse the Sponsor or its affiliates for organizational and offering expenses (as defined in the Advisory Agreement) paid by the Sponsor on behalf of the Company. The Company will reimburse the Sponsor for organizational and offering expenses up to 3% of gross offering proceeds. The Sponsor and affiliates will be responsible for any organizational and offering expenses to the extent they exceed 3% of gross offering proceeds. As of June 30, 2019, the Sponsor has incurred organizational and offering expenses in excess of 3% of the gross offering proceeds received by the Company. To the extent the Company has more gross offering proceeds from future stockholders, the Company will be obligated to reimburse the Sponsor. As the amount of future gross offering proceeds is uncertain, the amount the Company is obligated to reimburse to the Sponsor is uncertain. As of June 30, 2019, the Company has reimbursed the Sponsor $5,092,718 in organizational and offering costs. The Company’s maximum liability for organizational and offering costs through June 30, 2019 was $5,120,687, of which $27,969 was payable as of June 30, 2019 and is included in "Due to affiliates" in the condensed consolidated balance sheet. Investor Relations Payroll Expense Reimbursement from Sponsor The Company employs investor relations personnel that answer inquiries from potential investors regarding the Company and/or its Registered Offering. The payroll expense associated with the investor relations personnel is reimbursed by the Sponsor. The Sponsor considers these payroll costs to be offering expenses. The payroll expense reimbursements from the Sponsor for the three months ended June 30, 2019 and 2018 were $143,997 and $242,416, respectively, and for the six months ended June 30, 2019 and 2018 were $272,911 and $553,508, respectively. The reduction in reimbursements during the 2019 period reflects a reduction in the number of investor relations personnel and related costs. Acquisition Fees The Company pays the Advisor a fee in an amount equal to 3% of the contract purchase price of the Company’s properties plus additions to real estate investments, as defined, as acquisition fees. The total of all acquisition fees and acquisition expenses shall be reasonable and shall not exceed 6% of the contract price of the property. However, a majority of the directors (including a majority of the independent directors) not otherwise interested in the transaction may approve fees in excess of these limits if they determine the transaction to be commercially competitive, fair and reasonable to the Company. Asset Management Fees The Company pays the Advisor, as compensation for the advisory services rendered to the Company, a monthly fee in an amount equal to 0.1% of the total investment value, as defined (the "Asset Management Fee"), as of the end of the preceding month plus the book value of any properties or property improvements acquired during the month pro-rated based on the number of days owned. The Asset Management Fee is payable monthly on the last business day of such month. The Asset Management Fee, which must be reasonable in the determination of the Company’s independent directors at least annually, may or may not be taken, in whole or in part as to any year, in the sole discretion of the Advisor. All or any portion of the Asset Management Fee not paid as to any fiscal year is deferred without interest and may be paid in such other fiscal year as the Advisor shall determine. Additionally, to the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly Asset Management Fee, the Advisor will be deemed to have waived, not deferred, that portion of its monthly Asset Management Fee that is up to 0.025% of the total investment value of the Company’s assets. The total amount of Asset Management Fees incurred in the three months ended June 30, 2019 and 2018 was $680,018 and $477,915 respectively, none of which was waived. The total amount of Asset Management Fees incurred in the six months ended June 30, 2019 and 2018 was $1,360,037 and $879,230 respectively, of which none was waived. There were no Asset Management Fees payable at June 30, 2019 and December 31, 2018. Financing Coordination Fees Other than with respect to any mortgage or other financing related to a property concurrent with its acquisition, if the Advisor or an affiliate provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the post-acquisition financing or refinancing of any debt that the Company obtains relative to a property, then the Company pays to the Advisor or such affiliate a financing coordination fee equal to 1% of the amount of such financing. The Company did not pay any financing coordination fees during the three months ended June 30, 2019 and 2018 as there were no loans obtained during both quarters, and paid $63,500 and $209,550 of financing coordination fees during the six months ended June 30, 2019 and 2018 related to one and three loans, respectively. Property Management Fees If the Advisor or any of its affiliates provides a substantial amount of the property management services (as determined by a majority of the Company’s independent directors) for the Company’s properties, then the Company pays the Advisor or such affiliate a property management fee equal to 1.5% of gross revenues from the properties managed. The Company also reimburses the Advisor and any of its affiliates for property-level expenses that such tenant pays or incurs to the Company, including salaries, bonuses and benefits of persons employed by the Advisor, except for the salaries, bonuses and benefits of persons who also serve as one of the Company’s executive officers or as an executive officer of such person. The Advisor or its affiliate may subcontract the performance of its property management duties to third parties and pay all or a portion of its property management fee to the third parties with whom it contracts for these services. Disposition Fees For substantial assistance in connection with the sale of properties, the Company pays the Advisor or one of its affiliates 3% of the contract sales price, as defined, of each property sold; provided, however, that if, in connection with such disposition, commissions are paid to third parties unaffiliated with the Advisor or its affiliates, the disposition fees paid to the Advisor, the Sponsor, their affiliates and unaffiliated third parties may not exceed the lesser of the competitive real estate commission or 6% of the contract sales price. There were no disposition fees incurred during the three and six months ended June 30, 2019 and 2018. Subordinated Participation Fees For 2017 and 2018, the Company owed the Advisor or an affiliate a subordinated participation fee calculated as of December 31 of each year which was paid in the immediately following January. On August 9, 2019, the Advisory Agreement was amended to delete the subordinated participation fee from the agreement. The subordinated participation fee was only due if the Preferred Return, as defined, was achieved and was equal to the sum of (using terms as defined in the Advisory Agreement): (i) 30% of the product of (a) the difference of (x) the Preliminary NAV per share minus (y) the Highest Prior NAV per share, multiplied by (b) the number of shares outstanding as of December 31 of the relevant annual period, but only if this results in a positive number, plus (ii) 30% of the product of: (a) the amount by which aggregate distributions to stockholders during the annual period, excluding return of capital distributions, divided by the weighted average number of shares outstanding for the annual period, exceed the Preferred Return, multiplied by (b) the weighted average number of shares outstanding for the annual period calculated on a monthly basis. The Company calculated subordinated participation fees of $839,050 and $315,802 which were accrued as of December 31, 2018 and 2017, respectively, and paid in cash during the first quarter of 2019 and 2018, respectively. Leasing Commission Fees If a property or properties of the Company becomes unleased and the Advisor or any of its affiliates provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the Company’s leasing of a property or properties to unaffiliated third parties, then the Company pays the Advisor or such affiliate leasing commissions equal to 6% of the rents due pursuant to such lease for the first ten years of the lease term; provided, however (i) if the term of the lease is less than ten years, such commission percentage will apply to the full term of the lease and (ii) any rents due under a renewal of a lease of an existing tenant upon expiration of the initial lease agreement (including any extensions provided for thereunder) shall accrue a commission of 3% in lieu of the aforementioned 6% commission. There were no leasing commission fees incurred during the three and six months ended June 30, 2019 and 2018. Operating Expenses Under the Company's charter, total operating expenses of the Company are limited to the greater of 2% of average invested assets or 25% of net income for the four most recently completed fiscal quarters (the "2%/25% Limitation"). If the Company exceeds the 2%/25% Limitation, the Advisor must reimburse the Company the amount by which the aggregate total operating expenses exceeds the limitation, or the Company must obtain a waiver from the Company's conflicts committee. For purposes of determining the 2%/25% Limitation amount, "average invested assets" means the average monthly book value of the Company’s assets invested directly or indirectly in equity interests and loans secured by real estate during the 12-month period before deducting depreciation, reserves for bad debts or other non-cash reserves. "Total operating expenses" means all expenses paid or incurred by the Company, as determined by GAAP, that are in any way related to the Company’s operation including asset management fees, but excluding (a) the expenses of raising capital such as organization and offering expenses, legal, audit, accounting, underwriting, brokerage, listing, registration and other fees, printing and other such expenses and taxes incurred in connection with the issuance, distribution, transfer, listing and registration of shares of the Company’s common stock; (b) interest payments; (c) taxes; (d) non-cash expenditures such as depreciation, amortization and bad debt reserves; (e) reasonable incentive fees based upon increases in NAV per share; (f) acquisition fees and acquisition expenses (including expenses, relating to potential investments that the Company does not close); and (h) disposition fees on the sale of real property and other expenses connected with the acquisition, disposition and ownership of real estate interests or other property (other than disposition fees on the sale of assets other than real property), including the costs of insurance premiums, legal services, maintenance, repair and improvement of real property. The Company is in compliance with the 2%/25% Limitation for operating expenses for the four fiscal quarters ended June 30, 2019.	NOTE 8. RELATED PARTY TRANSACTIONS The Company pays the members of its board of directors who are not executive officers for services rendered by issuing shares of Class C common stock to them. The total amount paid was $167,835 and $163,000 for the years ended December 31, 2018 and 2017, respectively. The Company has entered into an agreement (as amended the “Advisory Agreement”) with the Advisor. This agreement entitles the Advisor to specified fees upon the provision of certain services with regard to investments in real estate and the management of those investments, among other services, and the disposition of investments, as well as entitling the Advisor to reimbursement of organizational and offering costs incurred by the Advisor or Sponsor on behalf of the Company, such as expenses related to the Offerings, and certain costs incurred by the Advisor or Sponsor in providing services to the Company. In addition, the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. The Sponsor also serves as the sponsor for REIT I and BRIX REIT, Inc. (“BRIX REIT”). During the years ended December 31, 2018 and 2017, no other business transactions occurred between the Company and REIT I or BRIX REIT, other than described below or elsewhere herein, and those relating to the Company’s investment in REIT I. Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the years ended December 31, 2018 and 2017, respectively: Year Ended December 31, 2018 December 31, 2018 Year Ended December 31, 2017 December 31, 2017 Incurred Receivable Payable Incurred Receivable Payable Expensed: Asset management fees (1) $ 2,004,760 $ — $ — $ 872,281 $ — $ 567,661 Subordinated participation fees 839,050 — 839,050 315,802 — 315,802 Fees to affiliates 2,843,810 — — 1,188,083 — — Property management fees* 174,529 — 96,792 20,251 — 7,969 Directors and officers insurance and other reimbursements ** 128,512 — 30,164 — — — Expense reimbursements (from) to Sponsor (2) (1,136,469 ) 16,838 — (2,324,598 ) 34,194 — Waiver of asset management fees (1) — — — (143,540 ) — — Capitalized: Acquisition fees 2,752,339 — — 3,661,684 (5) — — Financing coordination fees 262,050 — — 326,600 — — Reimbursable organizational and offering expenses (3) 1,503,062 — 13,168 1,986,147 — 15,945 Other: Due to REIT I — — — 48,418 (4) — — Payable to TIC — — — 363,168 (6) — — $ 16,838 $ 979,174 $ 34,194 $ 907,377 * Property management fees are classified within property operating expenses on the consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses on the consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the years ended December 31, 2018 and 2017, the Advisor waived $0 and $143,540, respectively, of asset management fees, which are not subject to future recoupment by the Advisor. (2) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See “ Investor Relations Payroll Expense Reimbursement from Sponsor” . (3) As of December 31, 2018, the Sponsor had incurred $8,442,205 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds. (4) This amount was the result of a bank error. The Company incurred $48,418 of interest on its unsecured credit facility for the year ended December 31, 2017. The monthly interest payment that was due on the unsecured credit facility was withdrawn from REIT I’s bank account rather than from the Company’s bank account. This amount was repaid in 2017. (5) Includes $626,073 relating to the Santa Clara property. See Related Party Transactions with Unconsolidated Entities (6) After closing the acquisition of the Santa Clara property, the Company received $363,168 from the title company. These proceeds represent cash received by the title company in excess of the amounts needed to acquire the property. At December 31, 2017, these proceeds were paid in full to the TIC which owns the property. Organizational and Offering Costs The Company is obligated to reimburse the Sponsor or its affiliates for organizational and offering expenses (as defined in the Advisory Agreement) paid by the Sponsor on behalf of the Company. The Company will reimburse the Sponsor for organizational and offering expenses up to 3.0% of gross offering proceeds. The Sponsor and affiliates will be responsible for any organizational and offering expenses to the extent they exceed 3.0% of gross offering proceeds. As of December 31, 2018, the Sponsor has incurred organizational and offering expenses in excess of 3.0% of the gross offering proceeds received by the Company. To the extent the Company has more gross offering proceeds from future stockholders, the Company will be obligated to reimburse the Sponsor. As the amount of future gross offering proceeds is uncertain, the amount the Company is obligated to reimburse to the Sponsor is uncertain. As of December 31, 2018, the Company has reimbursed the Sponsor $4,215,004 in organizational and offering costs. The Company’s maximum liability for organizational and offering costs through December 31, 2018 was $4,228,172, of which $13,168 was payable as of December 31, 2018 and is included in “Due to affiliates” in the consolidated balance sheet. Investor Relations Payroll Expense Reimbursements from Sponsor The Company employs investor personnel that answer inquiries from potential investors regarding the Company and/or its Registered Offering. The payroll expense associated with the investor relations personnel is reimbursed by the Sponsor. The Sponsor considers these payroll costs to be offering expenses. The payroll expense reimbursements from the Sponsor for the year ended December 31, 2018 and 2017 were $875,100 and $2,324,598, respectively. The significant reduction in reimbursements during the 2018 periods corresponds primarily to a reduction in the number of investor relations personnel and related costs. Acquisition Fees The Company pays the Advisor a fee in an amount equal to 3.0% of the contract purchase price of the Company’s properties plus additions to real estate investments, as defined, as acquisition fees. The total of all acquisition fees and acquisition expenses shall be reasonable and shall not exceed 6.0% of the contract price of the property. However, a majority of the directors (including a majority of the independent directors) not otherwise interested in the transaction may approve fees in excess of these limits if they determine the transaction to be commercially competitive, fair and reasonable to the Company. Asset Management Fees The Company pays the Advisor, as compensation for the advisory services rendered to the Company, a monthly fee in an amount equal to 0.1% of the total investment value, as defined (the “Asset Management Fee”), as of the end of the preceding month plus the book value of any properties acquired during the month pro-rated based on the number of days owned. The Asset Management Fee is payable monthly on the last business day of such month. On August 2, 2018, the conflicts committee, which is comprised of all of the independent directors of the Company, approved, and on August 3, 2018 the board of directors approved, renewing the Advisory Agreement for an additional year, to August 11, 2019. At the same time, the board of directors also approved amendments to the Advisory Agreement which provide for (i) paying the Asset Management Fee for assets acquired during a month based on the pro-rated number of days following acquisition and (ii) paying the Asset Management Fee on the last business day of the month. The Asset Management Fee, which must be reasonable in the determination of the Company’s independent directors at least annually, may or may not be taken, in whole or in part as to any year, in the sole discretion of the Advisor. All or any portion of the Asset Management Fee not paid as to any fiscal year is deferred without interest and may be paid in such other fiscal year as the Advisor shall determine. Additionally, to the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly Asset Management Fee, the Advisor will be deemed to have waived, not deferred, that portion of its monthly Asset Management Fee that is up to 0.025% of the total investment value of the Company’s assets. The total amount of Asset Management Fees incurred in the years ended December 31, 2018 and 2017 was $2,004,760 and $872,281, respectively, of which $0 and $143,540, respectively, was waived. Asset Management Fees payable at December 31, 2018 and 2017 were $0 and $567,661, respectively. Financing Coordination Fee Other than with respect to any mortgage or other financing related to a property concurrent with its acquisition, if the Advisor or an affiliate provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the post-acquisition financing or refinancing of any debt that the Company obtains relative to a property, then the Company pays to the Advisor or such affiliate a financing coordination fee equal to 1.0% of the amount of such financing. The Company paid and capitalized an aggregate of $262,050 related to three loans during the year ended December 31, 2018 and an aggregate of $326,600 related to seven loans during the year ended December 31, 2017. Property Management Fees If the Advisor or any of its affiliates provides a substantial amount of the property management services (as determined by a majority of the Company’s independent directors) for the Company’s properties, then the Company pays the Advisor or such affiliate a property management fee equal to 1.5% of gross revenues from the properties managed. The Company also reimburses the Advisor and any of its affiliates for property-level expenses that such tenant pays or incurs to the Company, including salaries, bonuses and benefits of persons employed by the Advisor, except for the salaries, bonuses and benefits of persons who also serve as one of the Company’s executive officers or as an executive officer of such person. The Advisor or its affiliate may subcontract the performance of its property management duties to third parties and pay all or a portion of its property management fee to the third parties with whom it contracts for these services. The Company provided property management services for 10 and five properties in its portfolio during the years ended December 31, 2018 and 2017, respectively. Disposition Fees For substantial assistance in connection with the sale of properties, the Company pays the Advisor or one of its affiliates 3.0% of the contract sales price, as defined, of each property sold; provided, however, that if, in connection with such disposition, commissions are paid to third parties unaffiliated with the Advisor or its affiliates, the disposition fees paid to the Advisor, the Sponsor, their affiliates and unaffiliated third parties may not exceed the lesser of the competitive real estate commission or 6% of the contract sales price. There were no disposition fees incurred during the years ended December 31, 2018 and 2017. Subordinated Participation Fees The Company pays the Advisor or an affiliate a subordinated participation fee calculated as of December 31 of each year and paid (if at all) in the immediately following January. The subordinated participation fee is only due if the Preferred Return, as defined, is achieved and is equal to the sum of (using terms as defined in the Advisory Agreement): (i) 30% of the product of (a) the difference of (x) the Preliminary NAV per share minus (y) the Highest Prior NAV per share, multiplied by (b) the number of shares outstanding as of December 31 of the relevant annual period, but only if this results in a positive number, plus (ii) 30% of the product of: (a) the amount by which aggregate distributions to stockholders during the annual period, excluding return of capital distributions, divided by the weighted average number of shares outstanding for the annual period, exceed the Preferred Return, multiplied by (b) the weighted average number of shares outstanding for the annual period calculated on a monthly basis. The Company calculated a subordinated participation fee of $839,050 and $315,802 which was accrued as of December 31, 2018 and 2017, respectively, and paid in cash during the first quarters of 2019 and 2018, respectively. Leasing Commission Fees If a property or properties of the Company becomes unleased and the Advisor or any of its affiliates provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the Company’s leasing of a property or properties to unaffiliated third parties, then the Company pays the Advisor or such affiliate leasing commissions equal to 6.0% of the rents due pursuant to such lease for the first ten years of the lease term; provided, however (i) if the term of the lease is less than ten years, such commission percentage will apply to the full term of the lease and (ii) any rents due under a renewal of a lease of an existing tenant upon expiration of the initial lease agreement (including any extensions provided for thereunder) shall accrue a commission of 3.0% in lieu of the aforementioned 6.0% commission. There were no leasing commission fees incurred during the years ended December 31, 2018 and 2017. Other Operating Expense Reimbursement Under the Company's charter, total operating expenses of the Company are limited to the greater of 2% of average invested assets or 25% of net income for the four most recently completed fiscal quarters (the "2%/25% Limitation"). If the Company exceeds the 2%/25% Limitation, the Advisor must reimburse the Company the amount by which the aggregate total operating expenses exceeds the limitation, or the Company must obtain a waiver from the Company's conflicts committee. For purposes of determining the 2%/25% Limitation amount, “average invested assets” means the average monthly book value of the Company’s assets invested directly or indirectly in equity interests and loans secured by real estate during the 12-month period before deducting depreciation, reserves for bad debts or other non-cash reserves. “Total operating expenses” means all expenses paid or incurred by the Company, as determined by GAAP, that are in any way related to the Company’s operation including asset management fees, but excluding (a) the expenses of raising capital such as organization and offering expenses, legal, audit, accounting, underwriting, brokerage, listing, registration and other fees, printing and other such expenses and taxes incurred in connection with the issuance, distribution, transfer, listing and registration of shares of the Company’s common stock; (b) interest payments; (c) taxes; (d) non-cash expenditures such as depreciation, amortization and bad debt reserves; (e) reasonable incentive fees based upon increases in NAV per share; (f) acquisition fees and acquisition expenses (including expenses, relating to potential investments that the Company does not close); and (h) disposition fees on the sale of real property and other expenses connected with the acquisition, disposition and ownership of real estate interests or other property (other than disposition fees on the sale of assets other than real property), including the costs of insurance premiums, legal services, maintenance, repair and improvement of real property. The Company is in compliance with the 2/25% Limitation for operating expenses for the four fiscal quarters ended December 31, 2018. Operating expense reimbursements for the four fiscal quarters ended December 31, 2017 exceeded the 2%/25% Limitation. The conflicts committee approved the operating expenses above the 2%/25% Limitation, as they determined that the relationship of the Company’s operating expenses to average invested assets were justified for the year ended December 31, 2017 given the costs of operating a public company and the early stage of operations. Related Party Transactions with Unconsolidated Entities The Company’s portion of Advisor fees paid relating to the Santa Clara property for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Acquisition fees $ — $ 626,073 Asset management fees 191,907 49,035 Total $ 191,907 $ 675,108 The acquisition fees were paid pursuant to the Advisory Agreement and were capitalized as a component of the Company’s investment in the TIC. The Company’s portion of Advisor fees paid relating to REIT I for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Expensed: Asset management fees $ 38,903 $ 33,376 Other 32,274 20,972 Capitalized: Acquisition fees — 29,536 Financing coordination fees — 4,407 Total $ 71,177 $ 88,291

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9. COMMITMENTS AND CONTINGENCIES Economic Dependency The Company depends on its Sponsor and its Advisor for certain services that are essential to the Company, including the sale of the Company’s shares of common stock, the identification, evaluation, negotiation, origination, acquisition and disposition of investments; management of the daily operations of the Company’s investment portfolio; and other general and administrative responsibilities. In the event that these companies are unable to provide the respective services, the Company will be required to obtain such services from other sources. The Company generally does not require collateral or other security from tenants, other than security deposits or letters of credit. However, since concentration of rental revenue from certain tenants exists, the inability of those tenants to make their payments could have an adverse effect on the Company. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the property could result in future environmental liabilities. Tenant Improvements Pursuant to lease agreements, as of June 30, 2019 and December 31, 2018, the Company had obligations to pay for $401,392 and $3,789,091, respectively, in site and tenant improvements to be incurred by tenants, including a 72.7% share of the tenant improvements for the Santa Clara property. During the second quarter of 2019, $3,387,699 of the restricted cash balance as of December 31, 2018 was released to a tenant to reimburse it for tenant improvement costs under the terms of the lease agreement. At June 30, 2019 and December 31, 2018, the Company had $99,228 and $3,486,927 of restricted cash held to fund tenant improvements. Redemption of Common Stock The maximum amount that may be repurchased per month is limited to no more than 2% of the Company’s most recently determined aggregate NAV. Repurchases for any calendar quarter will be limited to no more than 5% of its most recently determined aggregate NAV. The foregoing repurchase limitations are based on "net repurchases" during a quarter or month, as applicable. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1) 5% or 2% (as applicable) of the Company’s most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the Registered Offering and Class S Offering (including purchases pursuant to its Registered DRP Offering) since the beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month. The Company has the discretion to repurchase fewer shares than have been requested to be repurchased in a particular month or quarter, or to repurchase no shares at all, in the event that it lacks readily available funds to do so due to market conditions beyond the Company’s control, its need to maintain liquidity for its operations or because the Company determines that investing in real property or other illiquid investments is a better use of its capital than repurchasing its shares. In the event that the Company repurchases some but not all of the shares submitted for repurchase in a given period, shares submitted for repurchase during such period will be repurchased on a pro-rata basis. In addition, the Company’s board of directors may amend, suspend or terminate the share repurchase program without stockholder approval upon 30 days’ notice if its directors believe such action is in the Company and its stockholders’ best interests. The Company’s board of directors may also amend, suspend or terminate the share repurchase program due to changes in law or regulation, or if the board of directors becomes aware of undisclosed material information that the Company believes should be publicly disclosed before shares are repurchased. In order to protect the interests of long-term investors, on August 7, 2019, the board of directors amended the share repurchase program for the Class C common stock to require that shares be held for 90 days after they have been issued to the applicable stockholder before the Company will accept requests for repurchase. This policy is being implemented to: • avoid disruption to cash management and real estate investment activity; • reduce the cost burden incurred from short-term share repurchase requests; and • protect the Company, its stockholders and corresponding financial institutions from fraudulent cyber activities. In accordance with the terms of the share repurchase program, this amendment will become effective 30 days after this Form 10-Q and a related supplement to the prospectus for the Registered Offering are filed with the SEC. Legal and Regulatory Matters From time-to-time, the Company may become party to legal proceedings that arise in the ordinary course of its business. Other than as described below, the Company is not a party to any legal proceeding, nor is the Company aware of any pending or threatened litigation that could have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. The SEC is conducting an investigation related to, among other things, the advertising and sale of securities in connection with the Registered Offering and compliance with broker-dealer regulations. The investigation is a non-public fact-finding inquiry. At this stage of the investigation, the SEC has not made an allegation of wrongdoing nor a finding that violations of law have occurred. In connection with the investigation, the Company and certain associates have received and responded to subpoenas from the SEC, including requests for various documents related to the Company, the Sponsor, and the Registered Offering. The SEC’s investigation is ongoing. The Company has cooperated and intends to continue to cooperate with the SEC in this matter. The Company is presently in discussion with the SEC about potential outcomes resulting from the investigation. The Company is unable to predict whether the SEC will commence any legal actions or launch additional investigations, inquiries or other actions related thereto.	NOTE 9. COMMITMENTS AND CONTINGENCIES Economic Dependency The Company depends on the Sponsor and the Advisor for certain services that are essential to the Company, including the sale of the Company’s shares of common stock, the identification, evaluation, negotiation, origination, acquisition and disposition of investments; management of the daily operations of the Company’s investment portfolio; and other general and administrative responsibilities. In the event that these companies are unable to provide the respective services, the Company will be required to obtain such services from other sources. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. Tenant Improvements Pursuant to lease agreements, as of December 31, 2018 and 2017, the Company has obligations to pay for $3,789,091 and $1,899,485, respectively, in site and tenant improvements to be incurred by tenants, including a 72.7% share of the tenant improvements for the Santa Clara property as of December 31, 2017. As of December 31, 2018 and 2017, the Company had $3,486,927 and $944,582, respectively, of restricted cash held to fund the improvements. Redemption of Common Stock The maximum amount that may be repurchased per month is limited to no more than 2% of the Company’s most recently determined aggregate NAV. Repurchases for any calendar quarter will be limited to no more than 5% of its most recently determined aggregate NAV. The foregoing repurchase limitations are based on “net repurchases” during a quarter or month, as applicable. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1) 5% or 2% (as applicable) of the Company’s most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the Registered Offering and Class S Offering (including purchases pursuant to its Registered DRP Offering) since the beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month. The Company has the discretion to repurchase fewer shares than have been requested to be repurchased in a particular month or quarter, or to repurchase no shares at all, in the event that it lacks readily available funds to do so due to market conditions beyond the Company’s control, its need to main liquidity for its operations or because the Company determines that investing in real property or other illiquid investments is a better use of its capital than repurchasing its shares. In the event that the Company repurchases some but not all of the shares submitted for repurchase in a given period, shares submitted for repurchase during such period will be repurchased on a pro-rata basis. In addition, the Company’s board of directors may amend, suspend or terminate the share repurchase program without stockholder approval upon 30 days’ notice if its directors believe such action is in the Company and its stockholders’ best interests. The Company’s board of directors may also amend, suspend or terminate the share repurchase program due to changes in law or regulation, or if the board of directors becomes aware of undisclosed material information that the Company believes should be publicly disclosed before shares are repurchased. Legal Matters From time-to-time, the Company may become party to legal proceedings that arise in the ordinary course of its business. Other than as described below, the Company is not a party to any legal proceeding, nor is the Company aware of any pending or threatened litigation that could have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. The SEC is conducting an investigation related to the advertising and sale of securities by the Company in connection with the Registered Offering. The investigation is a non-public fact-finding inquiry. It is neither an allegation of wrongdoing nor a finding that violations of law have occurred. In connection with the investigation, the Company and certain affiliates have received and responded to subpoenas from the SEC requesting documents and other information related to the Company and the Registered Offering. The SEC’s investigation is ongoing. The Company has cooperated and intends to continue to cooperate with the SEC in this matter. The Company is unable to predict the likely outcome of the investigation or determine its potential impact, if any, on the Company. The Company generally does not require collateral or other security from tenants, other than security deposits or letters of credit. However, since concentration of rental revenue from certain tenants exists, the inability of those tenants to make their payments could have an adverse effect on the Company.

SUBSEQUENT EVENTS (FY)

SUBSEQUENT EVENTS (FY)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued. Offering Status Through July 31, 2019, the Company had sold 17,264,957 shares of Class C common stock in the Offering, for aggregate gross offering proceeds of $173,569,307, which included 1,328,904 shares of Class C common stock sold under its distribution reinvestment plan, for gross proceeds of $13,386,283. As of July 31, 2019, the Company has sold 166,712 shares of Class S common stock in the Offering, for aggregate gross offering proceeds of $1,691,705, which included 1,417 shares of Class S common stock sold under its dividend reinvestment plan for gross proceeds of $14,377. Distributions On June 25, 2019, the Company’s board of directors declared distributions based on daily record dates for the period July 1 through July 31, 2019 at the rate of $0.00189113 per share per day on the outstanding shares of its common stock, which the Company will pay on August 26, 2019. On July 31, 2019, the Company’s board of directors declared distributions based on daily record dates for the period August 1 through August 31, 2019 at the rate of $0.00189113 per share per day on the outstanding shares of its common stock, which the Company will pay on September 25, 2019. Redeemable Common Stock Subsequent to June 30, 2019, the Company redeemed 82,525 shares of Class C common stock for $822,829 in July 2019 and 178,005 shares of Class C common stock for $1,769,216 in August 2019. Advisory Agreement On August 9, 2019, the Advisory Agreement was amended to delete the subordinated participation fee from the agreement. On August 9, 2019, the board of directors of the Company, including all of the independent directors, also approved renewing the Advisory Agreement, which was scheduled to expire on August 11, 2019 to December 31, 2019.	NOTE 10. SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements were issued in the Company’s Form 10-K on March 29, 2019. Offering Status As of February 28, 2019, the Company had sold 14,976,828 shares of Class C common stock in the Offering, for aggregate gross offering proceeds of $150,121,913, which included 1,017,841 shares of Class C common stock sold under its distribution reinvestment plan, for gross proceeds of $10,225,876. As of February 28, 2019, the Company had sold 113,312 shares of Class S common stock in the Offering, for aggregate gross offering proceeds of $1,149,162, which included 318 shares of Class S common stock sold under its distribution reinvestment plan for gross proceeds of $3,210. Distributions On November 28, 2018, the Company’s board of directors declared distributions based on daily record dates for the period December 1, 2018 through December 31, 2018 at a rate of $0.00188113 per share per day, or $748,674, on the outstanding shares of the Company’s common stock, which the Company paid on January 25, 2019. Of the December 2018 distribution, $571,882 was reinvested through the Company’s DRP. On December 26, 2018, the Company’s board of directors declared distributions based on daily record dates for the period January 1, 2019 through January 31, 2019 at rate of $0.00189113 per share per day, or $771,806, on the outstanding shares of the Company's common stock, which the Company paid on February 25, 2019. Of the January 2019 distribution, $587,707 was reinvested through the Company’s DRP. On January 31, 2019, the Company’s board of directors declared distributions based on daily record dates for the period February 1, 2019 through February 28, 2019 at rate of $0.00209375 per share per day, or $795,959, on the outstanding shares of the Company's common stock, which the Company paid on March 25, 2019. Of the February 2019 distribution, $605,275 was reinvested through the Company’s DRP. On February 28, 2019, the Company’s board of directors declared distributions based on daily record dates for the periods March 1, 2019 through March 31, 2019, April 1 through April 30, 2019, May 1 through May 31, 2019 and June 1 through June 30, 2019 at rate of $0.00192740 per share per day on the outstanding shares of its common stock, which the Company will pay on April 25, 2019, May 28, 2019, June 25, 2019 and July 25, 2019, respectively. Redeemable Common Stock Subsequent to December 31, 2018, the Company redeemed shares of Class C common stock as follows: 59,431 shares in January 2019 for $599,916; 124,258 shares in February 2019 for $1,236,669; and 41,100 shares in March 2019 for $408,661. Debt Financing On March 7, 2019, the Company refinanced a mortgage note payable which was due as of March 17, 2019 with a new note for $6,350,000 through a nonaffiliated lender. The note is secured by the 24 Hour Fitness property. The new mortgage note has a fixed interest rate of 4.64% for the first 11 years and matures on March 7, 2049. The financing coordination fee due to the Advisor or its affiliate for this financing amounted to $63,500. On March 12, 2019, the Company repaid its $4,842,500 mortgage loan on the Texas Health Resources property with borrowings under its unsecured line of credit. Credit Facility Extensions Effective January 15, 2019 and March 26, 2019, the Company entered into agreements with the Lender to extend the maturity date of the Unsecured Credit Facility to March 26, 2019 and April 30, 2019, respectively. REIT I On January 14, 2019, REIT I announced that it had retained a real estate financial advisor to assist it in evaluating strategic alternatives, which includes marketing its entire real estate properties portfolio for disposition by sale, merger or other transaction structure. In connection with REIT I’s announcement, on March 19, 2019 the Company announced that it intends to explore a potential acquisition of REIT I or REIT I’s portfolio of properties (the “REIT I Portfolio”) and that its board of directors has formed a special committee of the board of directors (the “special committee”), consisting solely of independent directors, that will evaluate the potential for a transaction with REIT I. The members of the special committee, comprising four of the Company’s six directors, have no affiliation with REIT I or the Sponsor. The special committee has hired UBS Investment Bank as its financial advisor and Morris, Manning and Martin, LLP as its legal advisor to assist the special committee as it conducts a review of a potential acquisition of REIT I or the REIT I Portfolio. The special committee has not set a definitive timetable for completion of its evaluation, and there can be no assurances that the review process will result in any transaction. The Company does not intend to provide any updates pertaining to its exploration of a potential acquisition of REIT I and shareholders should not expect any announcement from the Company until such time that an outcome has been reached with respect to any potential offer for REIT I or the REIT I Portfolio, except as required under applicable laws.

BUSINESS AND ORGANIZATION (Q2)

BUSINESS AND ORGANIZATION (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
BUSINESS AND ORGANIZATION	NOTE 1. BUSINESS AND ORGANIZATION RW Holdings NNN REIT, Inc. (the "Company") was incorporated on May 15, 2015 as a Maryland corporation. The Company has the authority to issue 450,000,000 shares of stock, consisting of 50,000,000 shares of preferred stock, $0.001 par value per share, 300,000,000 shares of Class C common stock, $0.001 par value per share, and 100,000,000 shares of Class S common stock, $0.001 par value per share. The Company was formed to primarily invest, directly or indirectly through investments in real estate owning entities, in single-tenant income-producing properties located in the United States, which are leased to creditworthy tenants under long-term net leases. The Company’s goal is to generate current income for investors and long-term capital appreciation in the value of its properties. The Company holds its investments in real property through special purpose, wholly-owned limited liability companies, which are wholly-owned subsidiaries of Rich Uncles NNN Operating Partnership, LP, a Delaware limited partnership (the "Operating Partnership") or through the Operating Partnership. The Operating Partnership was formed on January 28, 2016. The Company is the sole general partner of, and owns a 99% partnership interest in, the Operating Partnership. Rich Uncles NNN LP, LLC, a Delaware limited liability company formed on May 13, 2016 ("NNN LP"), owns the remaining 1% partnership interest in the Operating Partnership and is the sole limited partner. NNN LP is wholly-owned by the Company. The Company is externally managed by its advisor, Rich Uncles NNN REIT Operator, LLC (the "Advisor"), a Delaware limited liability company, pursuant to an advisory agreement, as amended (the "Advisory Agreement"). The Advisor is wholly-owned by the Company’s sponsor, BrixInvest, LLC (f/k/a Rich Uncles, LLC, the "Sponsor"), a Delaware limited liability company whose members include Aaron S. Halfacre and Raymond Wirta, the Company’s Chief Executive Officer and Chairman of the Board of Directors, respectively. On each of June 24, 2015 and December 31, 2015, the Company issued 10,000 shares of its Class C common stock to the Sponsor, for a total of 20,000 shares of Class C common stock, at a purchase price of $10.00 per share. As of June 30, 2019 and December 31, 2018, the Sponsor held 10,740 shares of the Company’s Class C common stock. On July 15, 2015, the Company filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission (the "SEC") to register an initial public offering of a maximum of 90,000,000 shares of common stock for sale to the public (the "Primary Offering"). The Company also registered a maximum of 10,000,000 shares of common stock pursuant to the Company’s distribution reinvestment plan (the "Registered DRP Offering" and, together with the Primary Offering, the "Registered Offering"). The SEC declared the Company’s registration statement effective on June 1, 2016 and on July 20, 2016, the Company began offering shares of common stock to the public. Pursuant to its securities offering registered with the SEC, the Company sells shares of its "Class C" common stock directly to investors, with a minimum investment in shares of $500. Commencing in August 2017, the Company began selling shares of its Class C common stock only to U.S. persons as defined under Rule 903 promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Under applicable SEC rules, the current registration statement for the Registered Offering was scheduled to terminate on June 1, 2019, unless the Company filed a new registration statement on Form S-11 with the SEC prior to such date to extend the Registered Offering in accordance with Rule 415 of the Securities Act. On May 24, 2019, the Company filed a new registration statement on Form S-11 with the SEC so that the Company may continue to offer shares of its Class C common stock. The Company’s current registration statement on Form S-11 will terminate when the new registration statement is declared effective by the SEC. As required by some states, the Company is also required to renew the registration statement for the Registered Offering annually or file a new registration statement to continue the Registered Offering. On August 11, 2017, the Company began offering up to 100,000,000 shares of its Class S common stock exclusively to non-U.S. Persons as defined under Rule 903 promulgated under the Securities Act pursuant to an exemption from the registration requirements of the Securities Act and in accordance with Regulation S of the Securities Act (the "Class S Offering" and, together with the Registered Offering, the "Offerings"). The Class S common stock has similar features and rights as the Class C common stock with respect to voting and liquidation except that the Class S common stock offered in the Class S offering may be sold through brokers or other persons who may be paid upfront and/or deferred selling commissions and fees. On January 11, 2019, the Company’s board of directors approved and established an estimated net asset value ("NAV") per share of the Company’s common stock of $10.16 (unaudited). Effective January 14, 2019, the purchase price per share of the Company’s common stock in the Offerings and share repurchase program increased from $10.05 (unaudited) to $10.16 (unaudited). Through June 30, 2019, the Company had sold 16,834,959 shares of Class C common stock in the Registered Offering, including 1,263,675 shares of Class C common stock sold under its Registered DRP Offering, for aggregate gross offering proceeds of $169,200,530, and 166,448 shares of Class S common stock in the Class S Offering, including 1,154 shares of Class S common stock sold under its dividend reinvestment plan applicable to Class S common stock, for aggregate gross offering proceeds of $1,689,029. As of June 30, 2019, the Company had invested in (i) 24 operating properties, comprised of: nine retail properties, 10 office properties and five industrial properties; (ii) one parcel of land, which currently serves as an easement to one of the Company’s office properties; (iii) an approximate 72.7% tenant-in-common interest in a Santa Clara office property (the "TIC Interest"); and (iv) an approximate 4.8% interest in Rich Uncles Real Estate Investment Trust I ("REIT I"), an affiliated REIT. On January 14, 2019, REIT I announced that it had retained a real estate financial advisor to assist it in evaluating strategic alternatives, which includes marketing its entire real estate properties portfolio (the "REIT I Portfolio") for disposition by sale, merger or other transaction structure. In connection with REIT I’s announcement, on March 19, 2019, the Company announced that it intended to explore a potential acquisition of REIT I or the REIT I Portfolio and that the Company’s board of directors has formed a special committee of the board of directors (the "special committee"), consisting solely of independent directors, that is evaluating the potential for a transaction with REIT I. The members of the special committee, comprised of four of the Company’s six directors, have no affiliation with REIT I or the Sponsor. The special committee has engaged UBS Investment Bank as its financial advisor and Morris Manning and Martin, LLP as its legal advisor to assist the special committee as it conducts a review of a potential acquisition of REIT I or the REIT I Portfolio. On June 21, 2019, the Company announced that REIT I conducted a multi-round process whereby bidders submitted proposals to a special committee of the REIT I board of trust managers for preliminary review. As a result of such process, REIT I and the Company determined to commence an exclusive due diligence process. Both parties and their advisors are continuing to evaluate a potential transaction and the special committee has not set a definitive timetable for completion of its evaluation. There can be no assurance that the Company will be able to enter into any transaction with REIT I on acceptable terms or at all.	NOTE 1. BUSINESS AND ORGANIZATION RW Holdings NNN REIT, Inc. (the “Company”) was incorporated on May 15, 2015 as a Maryland corporation. The Company was originally incorporated under the name Rich Uncles Real Estate Investment Trust, Inc., but changed its name on October 19, 2015 to Rich Uncles NNN REIT, Inc. and again on August 14, 2017 to RW Holdings NNN REIT, Inc. The Company has the authority to issue 450,000,000 shares of stock, consisting of 50,000,000 shares of preferred stock, $0.001 par value per share, 300,000,000 shares of Class C common stock, $0.001 par value per share, and 100,000,000 shares of Class S common stock, $0.001 par value per share. The Company was formed to primarily invest, directly or indirectly in real estate owning entities, which own single-tenant income-producing properties located in the United States, which are leased to credit worthy tenants under long-term net leases. The Company’s goal is to generate current income for investors and long-term capital appreciation in the value of its properties. The Company holds its investments in real property through special purpose wholly-owned limited liability companies which are wholly-owned subsidiaries of Rich Uncles NNN Operating Partners, L.P., a Delaware limited partnership (the “Operating Partnership”) or through the Operating Partnership. The Operating Partnership was formed on January 28, 2016. The Company is the sole general partner of and owns a 99% partnership interest in the Operating Partnership. Rich Uncles NNN LP, LLC, a Delaware limited liability company formed on May 13, 2016 (“NNN LP”), owns the remaining 1% interest in the Operating Partnership and is the sole limited partner. NNN LP is wholly-owned by the Company. The Company is externally managed by its advisor, Rich Uncles NNN REIT Operator, LLC (the “Advisor”), a Delaware limited liability company, pursuant to an advisory agreement, as amended (the “Advisory Agreement”). The Advisor is wholly-owned by the Company’s sponsor, BrixInvest, LLC (f/k/a Rich Uncles, LLC) (the “Sponsor”), a Delaware limited liability company, whose members include Aaron Halfacre and Ray Wirta, the Company’s Chief Executive Officer and Chairman, respectively. On each of June 24 and December 31, 2015, the Company issued 10,000 shares of its Class C common stock to the Sponsor, for a total of 20,000 shares of Class C common stock, at a purchase price of $10.00 per share. As of December 31, 2018, the Sponsor held 10,740 shares of the Company’s Class C common stock. On July 15, 2015, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to register an initial public offering of a maximum of 90,000,000 in shares of common stock for sale to the public (the “Primary Offering”). The Company also registered a maximum of 10,000,000 of common stock pursuant to the Company’s distribution reinvestment plan (the “Registered DRP Offering” or "DRP" and, together with the Primary Offering the “Registered Offering”). The SEC declared the Company’s registration statement effective on June 1, 2016 and on July 20, 2016, the Company began offering shares of common stock to the public. Pursuant to its securities offering registered with the SEC, the Company sells shares of “Class C” common stock directly to investors, with a minimum investment in shares of $500. Commencing in August 2017, the Company began selling shares of its Class C common stock only to U.S. persons as defined under Rule 903 promulgated under the Securities Act of 1933, as amended (the “Securities Act”). On August 11, 2017, the Company began offering up to 100,000,000 shares of Class S common stock exclusively to non-U.S. Persons as defined under Rule 903 promulgated under the Securities Act pursuant to an exemption from the registration requirements of the Securities Act and in accordance with Regulation S of the Securities Act (the “Class S Offering” and, together with the Registered Offering the “Offerings”). The Class S common stock has similar features and rights as the Class C common stock with respect to voting and liquidation except that the Class S common stock offered in the Class S offering may be sold through brokers or other persons who may be paid upfront and/or deferred selling commissions and fees. On January 11, 2019, the Company’s board of directors approved and established an estimated net asset value ("NAV") per share of the Company’s common stock of $10.16 (unaudited). Effective January 14, 2019, the purchase price per share of the Company’s common stock in the Offerings and share repurchase program increased from $10.05 to $10.16 (unaudited). Through December 31, 2018, the Company had sold 14,027,968 shares of Class C common stock in the Registered Offering, including 903,901 shares of Class C common stock sold under its Registered DRP Offering, for aggregate gross offering proceeds of $140,507,461, and 17,588 shares of Class S common stock in the Class S Offering, including 167 shares of Class S common stock sold under its distribution reinvestment plan, for aggregate gross offering proceeds of $176,604. As of December 31, 2018, the Company had invested in (i) 24 operating properties, comprised of: 10 retail properties, 9 office properties and 5 industrial properties; (ii) one parcel of land, which currently serves as an easement to one of the Company’s office properties; (iii) an approximate 72.7% tenant-in-common interest in a Santa Clara office property (the “TIC Interest”); and (iv) an approximate 4.8% interest in REIT I. The Company continues to offer shares of common stock under its Offerings. In some states, the Company is required to renew the registration statement for the Registered Offering annually or file a new registration statement to continue the Registered Offering. The Company may terminate the Registered Offering at any time.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial statements and the rules and regulations of the SEC. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. Such unaudited condensed consolidated financial statements and accompanying notes are the representations of the Company’s management, which is responsible for their integrity and objectivity. These unaudited condensed consolidated financial statements should be read in conjunction with the December 31, 2018 audited consolidated financial statements included in the Company’s Form 10-K filed with the SEC on March 29, 2019. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which are normal and recurring, necessary to fairly state its financial position, results of operations and cash flows. All significant intercompany balances and transactions are eliminated in consolidation. The December 31, 2018 balance sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements. Use of Estimates The preparation of the condensed consolidated financial statements and the accompanying notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates. Fair Value Disclosures Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an existing price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: Level 1: quoted prices in active markets for identical assets or liabilities; Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value for certain financial instruments is derived using valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of financial instrument for which it is practicable to estimate the fair value: Cash and cash equivalents, restricted cash, tenant receivables, due from affiliates, purchase and other deposits, prepaid expenses and other assets, accounts payable, accrued and other liabilities and due to affiliates: These balances approximate their fair values due to the short maturities of these items. Derivative Instruments Unsecured Credit Facility Mortgage notes payable: Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements. Restricted cash as of June 30, 2019 and December 31, 2018 amounted to $156,046 and $3,503,242, respectively. Pursuant to lease agreements, the Company had obligations to pay for $156,046 and $3,535,163 in site and tenant improvements to be incurred by tenants as of June 30, 2019 and December 31, 2018, respectively, including a 72.7% share of tenant improvements for the Santa Clara property at both balance sheet dates. At June 30, 2019 and December 31, 2018, the Company's restricted cash held to fund the improvements totaled $99,228 and $3,486,927, respectively. As of June 30, 2019 and December 31, 2018, the Company also held restricted cash to fund an impounded property tax. During the second quarter of 2019, $3,387,699 of restricted cash was released to a tenant to reimburse it for tenant improvement costs under the terms of its lease agreement. Other Comprehensive Loss For all periods presented, other comprehensive loss is the same as net loss. Reclassifications Certain prior period revenue account balances in the statement of operations have been reclassified to conform with the current year presentation. The reclassifications had no impact on net loss. Per Share Data Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted loss per share of common stock equals basic loss per share of common stock as there were no potentially dilutive securities outstanding during the three and six months ended June 30, 2019 and 2018. For the three and six months ended June 30, 2019 and 2018, the Company has presented net loss per share amounts on the accompanying condensed consolidated statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for allocating income (loss) in accordance with the provisions of Accounting Standards Codification ("ASC") 260, Earnings per Share The differences in net loss per share if allocated under this method primarily reflect the lower effective dividends per share for Class S shareholders as a result of the payment of the deferred commission to the Class S distributor of these shares, and also reflect the impact of the timing of the declaration of the dividends relative to the time the shares were outstanding. Distributions The Company’s board of directors may declare distributions in advance of the periods to which they relate. Because such distributions relate to operations and cash available for distributions to be produced in future periods, these distributions will not be included in distributions that are recorded in the current period being reported. The following are the Company’s updated significant accounting policies that have been affected by the adoption of Topic 842 as discussed below in New Accounting Standards Issued and Adopted: Revenue Recognition The Company recognizes rental income, tenant reimbursements and other lease-related revenue when all of the following criteria are met: (i) the agreement has been fully executed and delivered, (ii) services have been rendered, (iii) the amount is fixed or determinable and (iv) payment has been received or the collectability of the amount due is probable. Lease termination fees are amortized over the remaining lease term, if applicable. If there is no remaining lease term, they are recognized when received and realized. Minimum annual rental revenues are recognized in rental income on a straight-line basis over the non-cancelable term of the related lease. The recognition of rental income commences when the tenant takes possession or controls the physical use of the leased property. In order for the tenant to take possession, the leased property must be substantially complete and ready for its intended use. In order to determine whether the leased property is substantially complete and ready for its intended use, the Company begins by determining whether the Company or the tenant owns the tenant improvements, if the lease agreement provides for tenant improvements. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. When the Company concludes that it is the owner of tenant improvements, rental income recognition begins when the tenant takes possession of the completed property, which is generally when Company-owned tenant improvements are substantially complete. In addition, when the Company concludes that it is the owner of tenant improvements, the Company records the costs to construct the tenant improvements, including costs paid for or reimbursed by the tenants, as a capital asset. For these tenant improvements, the Company records the amount funded by or reimbursed by the tenants as deferred revenue, which is amortized on a straight-line basis as additional rental income over the term of the related lease. When the Company concludes that the tenant is the owner of tenant improvements, rental income recognition begins when the tenant takes possession of or controls the physical use of the leased property. Any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. In addition, when the Company concludes that the tenant is the owner of tenant improvements for accounting purposes, the Company records its contribution towards such improvements as a lease incentive, which is included in deferred leasing costs and acquisition-related intangible assets, net in its consolidated balance sheets and amortized as a reduction to rental income on a straight-line basis over the term of the related lease. Tenant Reimbursements Tenant reimbursements, consisting of amounts due from tenants for common area maintenance, property taxes and other recoverable costs, are recognized in rental income in the period the recoverable costs are incurred. Tenant reimbursements are recorded on a gross basis when the Company pays the associated costs directly to third-party vendors and are reimbursed subsequently by the tenants. Allowances for Tenant and Deferred Rent Receivables The Company carries its tenant and deferred rent receivables net of allowances for amounts that may not be collected. Prior to the Company’s adoption of Topic 842 on January 1, 2019, the allowances were increased or decreased through provision for bad debts in the Company’s condensed consolidated statement of operations. Upon the adoption of Topic 842 on January 1, 2019, the determination of the adequacy of the Company's allowances for tenant and deferred rent receivables includes a binary assessment of whether the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any current and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. Recent Accounting Pronouncements New Accounting Standards Issued and Adopted Effective January 1, 2019, the Company adopted Financial Accounting Standards Board ("FASB") ASU No. 2016-02 "Leases (Topic 842)" Lessor Accounting As a lessor, the Company’s leases with tenants generally provide for the lease of real estate properties, as well as common area maintenance, property taxes and other recoverable costs. Under Topic 842, the lease of space is considered a lease component while the common area maintenance, property taxes and other recoverable costs billings are considered nonlease components, which fall under revenue recognition guidance in Topic 606. However, upon adopting the guidance in Topic 842, the Company determined that its tenant leases met the criteria to apply the practical expedient provided by ASU 2018-11 to recognize the lease and non-lease components together as one single component. This conclusion was based on the consideration that 1) the timing and pattern of transfer of the nonlease components and associated lease component are the same, and 2) the lease component, if accounted for separately, would be classified as an operating lease. As the lease of properties is the predominant component of the Company’s leasing arrangements, the Company accounted for all lease and nonlease components as one-single component under Topic 842. As a result, the adoption of Topic 842 did not have any impact on the Company’s timing or pattern of recognition of rental revenues as compared to previous guidance. To reflect recognition as one lease component, rental income and tenant reimbursements and other lease related property income that meet the requirements of the practical expedient provided by ASU 2018-11 have been combined under rental income subsequent to the adoption of Topic 842 for the three and six months ended June 30, 2019 in the Company’s consolidated statements of operations. The Company also made a conforming reclassification for the prior year’s tenant reimbursements. For the three month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $1,098,603 and $732,934, respectively, and for the six month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $2,186,463 and $1,261,519, respectively. Prior to the adoption of Topic 842, lessor costs for certain services directly reimbursed by tenants have already been presented by the Company on a gross basis in revenues and expenses. Leasing Costs Upon adoption of Topic 842, the Company elected to apply the package of practical expedients provided and did not reassess the following as of January 1, 2019: 1) whether any expired or existing contracts are leases or contain leases; 2) the lease classification for any expired or existing leases; and 3) initial direct costs for any existing leases. Under Topic 842, initial direct costs for both lessees and lessors would include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. As a result, beginning January 1, 2019, the Company will no longer capitalize internal leasing costs and third-party legal leasing costs and will instead expense these costs as incurred. These expenses will be included in legal leasing costs under general and administrative expenses in our consolidated statements of operations. During the three months ended March 31, 2019, the Company did not incur any indirect leasing costs which would have been capitalized prior to the adoption of Topic 842. The election of the package of practical expedients described above permits us to continue to account for our leases that commenced before January 1, 2019 under the previously existing lease accounting guidance for the remainder of their lease terms, and to apply the new lease accounting guidance to leases commencing or modified after January 1, 2019. Allowances for Tenant and Deferred Rent Receivables Upon the adoption of Topic 842 on January 1, 2019, the Company’s determination of the adequacy of its allowances for tenant receivables includes a binary assessment of whether or not the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. In addition, for tenant and deferred rent receivables deemed probable of collection the Company also may record an allowance under other authoritative GAAP depending upon the Company’s evaluation of the individual receivables, specific credit enhancements, current economic conditions, and other relevant factors. Such allowances are recorded as increases or decreases through rental income in the Company’s consolidated statements of operations. New Accounting Standards Recently Issued and Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation. The consolidated financial statements and accompanying notes are the representations of the Company’s management, who is responsible for their integrity and objectivity. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Revenue Recognition Effective January 1, 2018, the Company adopted Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”), using the modified retrospective approach, which requires a cumulative effect adjustment as of the date of the Company’s adoption. The adoption of ASU No. 2014-09 did not result in a cumulative effect adjustment as of January 1, 2018, the date of the Company's adoption. Based on the Company’s evaluation of contracts within the scope of ASU No. 2014-09, revenue that is impacted by ASU No. 2014-09 includes revenue generated by sales of real estate, other operating income and tenant reimbursements for substantial services earned at the Company’s properties. Such revenue is recognized when the services are provided and the performance obligations are satisfied. The Company’s adoption of ASU No. 2014-09 did not have a significant impact on its consolidated financial statements. The Company recognizes rental income from tenants under operating leases on a straight-line basis over the noncancelable term of the lease when collectability of such amounts is reasonably assured. Recognition of rental income on a straight-line basis includes the effects of rental abatements, lease incentives and fixed and determinable increases in lease payments over the lease term. If the lease provides for tenant improvements, management of the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or by the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. Tenant reimbursements of real estate taxes, insurance, repairs and maintenance, and other operating expenses are recognized as revenue in the period the expenses are incurred and presented gross if the Company is the primary obligor and, with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier and bears the associated credit risk. In instances where the operating lease agreement has an early termination option, the termination penalty is based on a predetermined termination fee or based on the unamortized tenant improvements and leasing commissions. The Company evaluates the collectability of rents and other receivables on a regular basis based on factors including, among others, payment history, credit rating, the asset type, and current economic conditions. If the Company’s evaluation of these factors indicates it may not recover the full value of the receivable, it provides an allowance against the portion of the receivable that it estimates may not be recovered. This analysis requires the Company to determine whether there are factors indicating a receivable may not be fully collectible and to estimate the amount of the receivable that may not be collected. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt allowance for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. Fair Value Measurements and Disclosures Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: Level 1: quoted prices in active markets for identical assets or liabilities; Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value for certain financial instruments is derived using a combination of market quotes, pricing models, and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of financial instrument for which it is practicable to estimate the fair value: Cash and cash equivalents; restricted cash; tenant receivables; purchase and other deposits; prepaid expenses and other assets; accounts payable, accrued and other liabilities; and due to affiliates: These balances approximate their fair values due to the short maturities of these items. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The proprietary model uses the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps are estimated using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit risks to the contracts, are incorporated in the fair values to account for potential nonperformance risk. Unsecured credit facility : The fair value of the Company’s unsecured credit facility approximates its carrying value as the interest rates are variable and the balances approximate their fair values due to the short maturities of this facility. Mortgage notes payable: The fair value of the Company’s mortgage notes payable is estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. The Company classifies these inputs as Level 3 inputs. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance may exceed federally insurable limits. The Company mitigates this risk by depositing funds with major financial institutions; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements or property taxes. Restricted cash as of December 31, 2018 and 2017 amounted to $3,503,242 and $944,582, respectively. Pursuant to lease agreements, the Company has obligations to pay for $3,535,163 and $1,899,485 in site and tenant improvements to be incurred by tenants as of December 31, 2018 and 2017, respectively, including a 72.7% share of the tenant improvements for the Santa Clara property. At December 31, 2018 and 2017, the Company’s restricted cash held to fund these improvements totaled $3,486,927 and $944,582, respectively. As of December 31, 2018, the Company also held restricted cash of $16,315 to fund an impounded property tax. Real Estate Investments Real Estate Acquisition Valuation The Company records acquisitions that meet the definition of a business as a business combination. If the acquisition does not meet the definition of a business, the Company records the acquisition as an asset acquisition. Under both methods, all assets acquired and liabilities assumed are measured based on their acquisition-date fair values. All acquisitions during 2018 and 2017 were treated as asset acquisitions. Transaction costs that are related to a business combination are charged to expense as incurred. Transaction costs that are related to an asset acquisition are capitalized as incurred. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles, and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining noncancelable term of above-market in-place leases plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining noncancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease-up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease up periods. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining term of the respective lease. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. Therefore, the Company classifies these inputs as Level 3 inputs. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income (loss). Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and depreciated or amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset and are expensed as incurred. Significant replacements and betterments are capitalized. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: • Buildings 29-48 years • Site improvements Shorter of 15 years or remaining lease term • Tenant improvements Shorter of 15 years or remaining lease term • Tenant origination and absorption costs, and above-/below-market lease intangibles Remaining lease term Impairment of Real Estate and Related Intangible Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of real estate and related intangible assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of real estate and related intangible assets may not be recoverable, management assesses whether the carrying value of the assets will be recovered through the future undiscounted operating cash flows expected from the use of and eventual disposition of the property. If, based on the analysis, the Company does not believe that it will be able to recover the carrying value of the asset, the Company will record an impairment charge to the extent the carrying value exceeds the estimated fair value of the asset. For the years ended December 31, 2018 and 2017, the Company did not record any impairment charges related to its real estate investments. Unconsolidated Investments The Company accounts for investments in entities over which the Company has the ability to exercise significant influence under the equity method of accounting. Under the equity method of accounting, an investment is initially recognized at cost and is subsequently adjusted to reflect the Company’s share of earnings or losses of the investee. The investment is also increased for additional amounts invested and decreased for any distributions received from the investee. Equity method investments are reviewed for impairment whenever events or circumstances indicate that the carrying amount of the investment might not be recoverable. If an equity method investment is determined to be other-than-temporarily impaired, the investment is reduced to fair value and an impairment charge is recorded as a reduction to earnings. Deferred Financing Costs Deferred financing costs represent commitment fees, financing coordination fees paid to Advisor, loan fees, legal fees, and other third-party costs associated with obtaining financing and are presented on the Company's balance sheet as a direct deduction from the carrying value of the associated debt liabilities. These costs are amortized to interest expense over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close. Unamortized deferred financing costs related to revolving credit facilities are reclassified to presentation as an asset in periods where there are no outstanding borrowings under the facility. Derivative Instruments The Company enters into derivative instruments for risk management purposes to hedge its exposure to cash flow variability caused by changing interest rates on its variable rate mortgage notes payable. The Company does not enter into derivatives for speculative purposes. The Company records these derivative instruments at fair value on the accompanying consolidated balance sheet. The Company’s mortgage derivative instruments do not meet the hedge accounting criteria and therefore the changes in the fair value are recorded as gains or losses on derivative instruments in the accompanying statement of operations. The gain or loss is included in interest expense. The Company enters into interest rate swaps as a fixed rate payer to mitigate its exposure to rising interest rates on its variable rate notes payable. The value of interest rate swaps is primarily impacted by interest rates, market expectations about interest rates, and the remaining life of the instrument. In general, increases in interest rates, or anticipated increases in interest rates, will increase the value of the fixed rate payer position and decrease the value of the variable rate payer position. As the remaining life of the interest rate swap decreases, the value of both positions will generally move towards zero. Distributions The Company intends, although is not legally obligated, to continue to make regular monthly distributions to holders of its shares at least at the level required to maintain REIT status unless the results of operations, general financial condition, general economic conditions or other factors inhibits the Company from doing so. Distributions are authorized at the discretion of the Company’s board of directors, which is directed, in substantial part, by its obligation to cause the Company to comply with the REIT requirements of the Internal Revenue Code. To the extent declared by the board of directors, distributions are payable on the 25th day of the following month declared. Should the 25th day fall on a weekend, distributions are payable on the first business day thereafter. Prior to January 19, 2018, to the extent distributions were declared by the board of directors, they were payable on the 10th day of the following month declared or on the first business day thereafter. The following presents the federal income tax characterization of the distributions paid: Years Ended December 31 2018 2017 Ordinary income $ 0.0352 $ 0.1110 Non-taxable distribution 0.6683 0.5890 Total $ 0.7035 $ 0.7000 Distribution Reinvestment Plan The Company has adopted the DRP through which common stockholders may elect to reinvest any amount up to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. Participants in the DRP acquire common stock at a price per share equal to the price to acquire a share of common stock in the Offering. The initial price of the Registered DRP Offering was $10.00 per share used through January 18, 2018.This price is expected to adjust during the course of the Registered DRP Offering on an annual basis to equal the NAV per share. Effective January 19, 2018, the Registered DRP Offering price was revised based on the estimated NAV to $10.05 per share and effective January 14, 2019, the Registered DRP Offering price was revised based on the estimated NAV to $10.16 (unaudited). Related Party Transactions The Company records all related party fees as incurred, subject to certain limitations described in the Company’s Advisory Agreement (see Note 8). Redeemable Common Stock The Company has adopted a share repurchase program that enables stockholders to sell their stock to the Company in limited circumstances. Stockholders who wish to avail themselves of the share repurchase program must notify the Company by three business days before the end of the month for their shares to be repurchased by the third business day of the following month. The share repurchase program provides that share repurchases may be funded by (a) distribution reinvestment proceeds, (b) the prior or future sale of shares, (c) indebtedness, including a line of credit and traditional mortgage financing, and (d) asset sales. The Company records amounts that are redeemable under the share repurchase program as redeemable common stock in its consolidated balance sheets because the shares are redeemable at the option of the holder and therefore their redemption is outside the control of the Company. When the Company determines it has a mandatory obligation to repurchase shares under the share repurchase program, it reclassifies such obligations from temporary equity to a liability based upon their respective settlement values. Through December 31, 2018, 1,147,573 shares had been tendered for redemption by the Company, which represented all redemption requests received in good order and eligible for redemption through December 31, 2018. All of these shares had been redeemed except for the 59,431 of shares in connection with the repurchase requests that were made in December 2018 and were repurchased on January 4, 2019. These shares were repurchased with the proceeds from reinvested dividends based on the NAV price of $10.05 per share according to the schedule of discounts below. In accordance with the Company’s share repurchase program for its Class C common stock, the per share repurchase price depends on the length of time the redeeming stockholder has held such shares as follows: (i.) less than one year from the purchase date, 97% of the most recently published NAV per share; (ii.) after at least one year but less than two years from the purchase date, 98% of the most recently published NAV per share; (iii.) after at least two years but less than three years from the purchase date, 99% of the most recently published NAV per share; and (iv.) after three years from the purchase date, 100% of the most recently published NAV per share. The Company’s most recently published NAV per share effective as of January 14, 2019 is $10.16 (unaudited). Prior to January 14, 2019, repurchases under the share repurchase program of the Company’s Class C common stock were made based on the original Primary Offering price of $10.00 through January 18, 2018 and then based on the estimated NAV of $10.05 per share effective January 19, 2018 through January 13, 2019, subject to the same discounts for the length of time such shares were held as described above. In accordance with the Company’s share repurchase program for its Class S common stock, shares of Class S common stock are not eligible for repurchase unless they have been held for at least one year. After this holding period has been met, Class S shares can be redeemed at the most recently published NAV, which is currently $10.16 per share (unaudited). Limitations on Repurchase The Company may, but is not required to, use available cash not otherwise dedicated to a particular use to pay the repurchase price, including cash proceeds generated from the dividend reinvestment plan, securities offerings, operating cash flow not intended for distributions, borrowings and capital transactions, such as asset sales or loan refinancings. The Company cannot guarantee that it will have sufficient available cash to accommodate all repurchase requests made in any given month. In addition, the Company may not repurchase shares in an amount that would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. Additional limitations on share repurchases under the share repurchase program are as follows: The Company is subject to the following limitations on the number of shares it may repurchase under the program: • Repurchases per month will be limited to no more than 2% of the Company’s most recently determined aggregate NAV. The Company generally anticipates that the NAV per share will be determined in the first quarter of each year, calculated as of the immediately preceding December 31. In the event the Merger is not completed until after December 31, 2019, however, our board of directors may, in its discretion, determine to calculate the NAV per share as of the closing of the Merger and the Self-Management Transactions in order to facilitate the most efficient and orderly process for the NAV per share determination that takes into account these transactions. Repurchases for any calendar quarter will be limited to no more than 5% of the Company’s most recently determined aggregate NAV, which means the Company will be permitted to repurchase shares with a value of up to an aggregate limit of approximately 20% of its aggregate NAV in any 12-month period. • The Company currently intends that the foregoing repurchase limitations will be based on “net repurchases” during a quarter or month, as applicable. The term “net repurchases” means the excess of the Company’s share repurchases (capital outflows) over the proceeds from the sale of its shares (capital inflows) for a given period. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1) 5% or 2% (as applicable) of the Company’s most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the offering (including purchases pursuant to its dividend reinvestment plan) since the beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month. • While the Company currently intends to calculate the foregoing repurchase limitations on a net basis, the Company’s board of directors may choose whether the 5% quarterly limit will be applied to “gross repurchases,” meaning that amounts paid to repurchase shares would not be netted against capital inflows. If repurchases for a given quarter are measured on a gross basis rather than on a net basis, the 5% quarterly limit could limit the number of shares redeemed in a given quarter despite us receiving a net capital inflow for that quarter. • In order for the Company’s board of directors to change the basis of repurchases from net to gross, or vice versa, the Company will provide notice to its stockholders in a prospectus supplement to the prospectus for the Registered Offering or current or periodic report filed with the SEC, as well as in a press release or on its website, at least 10 days before the first business day of the quarter for which the new test will apply. The determination to measure repurchases on a gross basis, or vice versa, will only be made for an entire quarter, and not particular months within a quarter. Advertising Costs Offering advertising costs charged to expense were $0 and $0 for the years ended December 31, 2018 and 2017, respectively, and are included in general and administrative expenses in the accompanying statements of operations. Advertising costs relating to the offering are paid by the Advisor. These amounts are reimbursed to the Advisor as organization and offering costs that they incurred on the Company’s behalf, see Note 8. Income Taxes The Company elected to be taxed as a REIT for U.S. federal income tax purposes under Section 856 through 860 of the Internal Revenue Code of 1986, as amended, beginning with its taxable year ended December 31, 2016. The Company expects to operate in a manner that will allow us to continue to qualify as a REIT for Federal income tax purposes. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including meeting various tests regarding the nature of our assets and our income, the ownership of our outstanding stock and distribution of at least 90% of the Company’s annual REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. The Company has concluded that there are no significant uncertain tax positions requiring recognition in its consolidated financial statements. Neither the Company nor its subsidiaries has been assessed interest or penalties by any major tax jurisdictions. The Company’s evaluations were performed for the tax years ended December 31, 2018 and 2017. As of December 31, 2018, the returns for calendar years 2015, 2016 and 2017 remain subject to examination by major tax jurisdictions. Other Comprehensive Loss For the years ended December 31, 2018 and 2017, other comprehensive loss is the same as net loss. Per Share Data Basic earnings per share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock equals basic earnings per share of common stock as there were no potentially dilutive securities outstanding for the years ended December 31, 2018 and 2017. We have presented net loss per share amounts on the accompanying statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for the allocating net los

CONDENSED CONSOLIDATED BALANC_3

CONDENSED CONSOLIDATED BALANCE SHEETS DETAILS (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Disclosure Text Block Supplement [Abstract]
CONDENSED CONSOLIDATED BALANCE SHEETS DETAILS	NOTE 3. CONDENSED CONSOLIDATED BALANCE SHEETS DETAILS Tenant Receivables Tenant receivables consisted of the following: June 30, 2019 December 31, 2018 Straight-line rent $ 2,915,852 $ 2,231,966 Tenant rent 76 312,171 Tenant reimbursements 1,065,650 1,019,355 Tenant other 164,761 95,622 Total $ 4,146,339 $ 3,659,114 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: June 30, 2019 December 31, 2018 Accounts payable $ 470,188 $ 227,793 Accrued expenses 1,612,897 1,421,197 Accrued dividends 896,291 749,170 Accrued interest payable 429,256 445,481 Unearned rent 749,865 827,338 Deferred commission payable 1,350 1,650 Tenant improvement obligation 104,385 3,492,084 Total $ 4,264,232 $ 7,164,713	NOTE 3. CONSOLIDATED BALANCE SHEETS DETAILS Tenant Receivables, Net Tenant receivables consisted of the following: December 31, 2018 2017 Straight-line rent $ 2,231,966 $ 995,822 Tenant rent 312,171 27,460 Tenant disbursements 1,019,355 239,813 Tenant other 95,622 — Total $ 3,659,114 $ 1,263,095 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: December 31, 2018 2017 Accounts payable $ 227,793 $ 244,430 Accrued expenses 1,421,197 568,881 Accrued dividends 749,170 2,427 Accrued interest payable 445,481 186,841 Unearned rent 827,338 548,266 Deferred commission payable 1,650 2,250 Lease incentive obligation 3,492,084 858,389 Total $ 7,164,713 $ 2,411,484

REAL ESTATE INVESTMENTS, NET (Q

REAL ESTATE INVESTMENTS, NET (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
REAL ESTATE INVESTMENTS, NET	NOTE 4. REAL ESTATE INVESTMENTS, NET As of June 30, 2019, the Company’s real estate investment portfolio consisted of 24 operating properties and one parcel of land in 13 states, consisting of: (i) nine retail, (ii) 10 office and (iii) five industrial properties and (iv) one parcel of land, which currently serves as an easement to one of the Company’s office properties. The following table provides summary information regarding the Company’s real estate investment portfolio as of June 30, 2019: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Health Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,516,731 ) $ 9,392,753 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (997,540 ) 3,855,831 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (105,640 ) 1,292,474 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (135,196 ) 1,549,233 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (101,501 ) 1,205,089 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (97,316 ) 1,188,719 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (99,877 ) 1,113,852 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (97,041 ) 1,091,453 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,246,883 ) 8,356,897 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,794,441 ) 11,929,749 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (497,611 ) 5,810,758 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (734,877 ) 12,443,411 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (638,485 ) 10,437,230 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (591,123 ) 8,038,975 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (465,575 ) 7,078,614 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (335,108 ) 6,088,990 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (578,086 ) 12,276,062 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (1,070,027 ) 26,287,873 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (1,608,573 ) 15,510,607 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (960,095 ) 15,042,394 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (428,401 ) 12,229,909 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (235,372 ) 7,454,552 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (308,484 ) 10,534,423 Costco Issaquah, WA 12/20/2018 Office 27,263,632 2,765,136 (702,672 ) 29,326,096 $ 217,494,190 $ 17,717,819 $ (15,346,655 ) $ 219,865,354 Current Year Acquisitions and Dispositions The Company did not acquire or dispose of any property during the six months ended June 30, 2019. Prior Year Acquisitions During the six months ended June 30, 2018, the Company acquired the following properties: Property Acquisition Date Land Buildings and Improvements Tenant Origination and Absorption Costs Below- Market Lease Intangibles Total 3M 3/29/2018 $ 758,780 $ 14,004,039 $ 2,356,361 $ (1,417,483 ) $ 15,701,697 Cummins 4/4/2018 3,347,959 11,117,532 1,536,998 — 16,002,489 Northrop Grumman Parcel 6/21/2018 329,410 — — — 329,410 $ 4,436,149 $ 25,121,571 $ 3,893,359 $ (1,417,483 ) $ 32,033,596 Purchase price $ 32,033,596 Acquisition fees to affiliate (930,000 ) Cash paid for acquisition of real estate investments $ 31,103,596 The capitalized acquisition fees paid to the Advisor for properties acquired during the six months ended June 30, 2018 are as follows: Property Amount 3M $ 456,000 Cummins 465,000 Northrop Grumman Parcel 9,000 Total $ 930,000 The Company also paid the Advisor capitalized acquisition fees of $49,507 during the six months ended June 30, 2018 related to additions to real estate investments. During the three and six months ended June 30, 2018, the Company recognized $906,155 and $929,127, respectively, of total revenue related to the acquired properties. The non-cancelable lease terms of the properties acquired during the six months ended June 30, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023 The purchase price allocations reflected in the condensed consolidated financial statements are based upon estimates and assumptions at the time of acquisition that are subject to change which may impact the fair value of the assets and liabilities above (including real estate investments, other assets and accrued liabilities). Prior Year Disposition The Company did not dispose of any property during the six months ended June 30, 2018. Operating Leases The Company’s real estate properties are primarily leased to tenants under triple-net or double net leases for which terms and expirations vary. The Company monitors the credit of all tenants to stay abreast of any material changes in credit quality. The Company monitors tenant credit by (1) reviewing the credit ratings of tenants (or their parent companies or lease guarantors) that are rated by national recognized rating agencies; (2) reviewing financial statements and related metrics and information that are publicly available or that are required to be provided pursuant to the lease; (3) monitoring news reports and press releases regarding the tenants (or their parent companies or lease guarantors), and their underlying business and industry; and (4) monitoring the timeliness of rent collections. As of June 30, 2019, the future minimum contractual rent payments due to the Company under the Company’s non-cancelable operating leases, excluding any renewal periods, are as follows: July through December 2019 $ 8,838,687 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 2024 12,958,858 Thereafter 46,224,832 $ 131,447,201 Revenue Concentration The Company’s revenue concentration based on tenants representing greater than 10% of total revenues for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue Costco, Issaquah, WA $ 697,522 11.8 % $ — — % AvAir, Chandler, AZ $ 666,774 11.3 % $ 653,374 14.9 % 3M, DeKalb, IL $ — — % $ 506,229 11.5 % Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue Costco, Issaquah, WA $ 1,376,025 11.7 % $ — — % AvAir, Chandler, AZ $ 1,333,549 11.3 % $ 1,289,146 16.4 % Asset Concentration As of June 30, 2019 and December 31, 2018, the Company’s portfolio’s asset concentration (greater than 10% of total assets) was as follows: June 30, 2019 December 31, 2018 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets Costco, Issaquah, WA $ 29,326,096 11.7 % $ 29,974,716 11.9 % AvAir, Chandler, AZ $ 26,287,873 10.5 % $ 26,634,909 10.6 % Intangibles As of June 30, 2019, the Company’s lease intangibles were as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) Accumulated amortization (4,569,358 ) (247,390 ) 713,067 Net amount $ 13,148,461 $ 535,725 $ (2,358,186 ) The intangible assets acquired in connection with these acquisitions have a weighted average amortization period of approximately 7.4 years as of June 30, 2019. The amortization of intangible assets over the next five years is expected to be as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles July through December 2019 $ 1,396,105 $ 48,524 $ (237,195 ) 2020 2,792,209 97,045 (474,391 ) 2021 2,375,949 78,994 (474,391 ) 2022 1,839,880 63,719 (306,829 ) 2023 1,214,116 63,719 (78,369 ) 2024 1,066,544 63,719 (67,420 ) Thereafter 2,463,658 120,005 (719,591 ) $ 13,148,461 $ 535,725 $ (2,358,186 ) Weighted-average remaining amortization period 7.0 years 6.8 years 9.7 years	NOTE 4. REAL ESTATE INVESTMENTS As of December 31, 2018, the Company’s real estate investment portfolio consisted of 24 operating properties located in 13 states consisting of: (i) 10 retail, (ii) nine office, (iii) five industrial and (iv) one parcel of land, which currently serves as an easement to one of the Company’s office properties. The following table provides summary information regarding the Company’s real estate portfolio as of December 31, 2018: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,265,678 ) $ 9,643,806 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (833,561 ) 4,019,810 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (85,518 ) 1,312,596 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (109,445 ) 1,574,984 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (82,167 ) 1,224,423 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (78,780 ) 1,207,255 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (80,853 ) 1,132,876 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (78,557 ) 1,109,937 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,001,594 ) 8,602,186 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,402,927 ) 12,321,263 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (389,042 ) 5,919,327 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (562,523 ) 12,615,765 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (461,240 ) 10,614,475 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (435,346 ) 8,194,752 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (343,275 ) 7,200,914 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (245,453 ) 6,178,645 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (399,615 ) 12,454,533 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (722,991 ) 26,634,909 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (985,899 ) 16,133,281 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (562,814 ) 15,439,675 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (204,887 ) 12,453,423 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (86,716 ) 7,603,208 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (90,731 ) 10,752,176 Costco Issaquah, WA 12/20/2018 Retail 27,263,632 2,765,136 (54,052 ) 29,974,716 $ 217,494,190 $ 17,717,819 $ (10,563,664 ) $ 224,648,345 Acquisitions Fiscal 2018 During the year ended December 31, 2018, the Company acquired the following properties: Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total 3M $ 758,780 $ 14,004,039 $ 2,356,361 $ — $ (1,417,483 ) $ 15,701,697 Cummins 3,347,959 11,117,531 1,536,998 — — 16,002,488 Northrop Grumman Parcel 329,410 — — — — 329,410 24 Hour Fitness 3,121,985 8,331,352 1,204,974 — — 12,658,311 Texas Health 1,827,914 5,148,789 713,221 — — 7,689,924 Bon Secours 1,658,659 8,383,892 800,356 — — 10,842,907 Costco 8,202,915 19,060,717 2,765,136 — — 30,028,768 $ 19,247,622 $ 66,046,320 $ 9,377,046 $ — $ (1,417,483 ) $ 93,253,505 Purchase price and other acquisition costs $ 93,253,505 Acquisition fees to affiliate (2,702,043 ) Acquisition of real estate before financing $ 90,551,462 Capitalized acquisition fees paid to the Advisor for properties acquired during the year ended December 31, 2018 are as follows: Property Amount 3M $ 456,000 Cummins 465,000 Northrop Grumman Parcel 9,000 24 Hour Fitness 366,000 Texas Health 222,750 Bon Secours 313,293 Costco 870,000 Total $ 2,702,043 The Company also paid the Advisor capitalized acquisition fees of $50,296 during the year ended December 31, 2018 related to additions to real estate investments. During the year ended December 31, 2018, the Company recognized $3,773,997 of total revenue related to these recently-acquired properties. The noncancellable lease terms of the properties acquired during the year ended December 31, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023 24 Hour Fitness 3/31/2030 Texas Health 12/31/2025 Bon Secours 8/31/2026 Costco 7/31/2025 (1) (1) The tenant’s right to cancel the lease on July 31, 2023 was not determined to be probable for financial accounting purposes. Fiscal 2017 During the year ended December 31, 2017, the Company acquired the following properties. Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total Northrop Grumman $ 1,191,024 $ 11,191,967 $ 1,341,199 $ — $ — $ 13,724,190 exp US Services 785,801 5,134,320 388,248 616,486 — 6,924,855 Harley 1,145,196 12,033,092 — — — 13,178,288 Wyndham 4,144,069 5,303,201 669,232 — — 10,116,502 Williams Sonoma 3,546,744 3,478,337 550,486 — (364,555 ) 7,211,012 Omnicare 800,772 6,242,156 281,442 — — 7,324,370 EMCOR 427,589 5,533,021 463,488 — (285,562 ) 6,138,536 Husqvarna 974,663 10,866,481 1,013,948 — (852,044 ) 12,003,048 AvAir 3,493,673 23,859,451 — — — 27,353,124 $ 16,509,531 $ 83,642,026 $ 4,708,043 $ 616,486 $ (1,502,161 ) $ 103,973,925 Purchase price and other acquisition costs $ 103,973,925 Purchase deposits applied (500,000 ) Acquisition fees to affiliate (3,015,057 ) Acquisition of real estate before financing $ 100,458,868 Capitalized acquisition fees paid to the Advisor for properties acquired during the year ended December 31, 2017 are as follows: Property Northrop Grumman $ 398,100 exp US Services 200,837 Harley 382,500 Wyndham 292,970 Williams Sonoma 209,165 Omnicare 211,275 EMCOR 177,210 Husqvarna 348,000 AvAir 795,000 Total $ 3,015,057 The Company also paid the Advisor capitalized acquisition fees of $20,555 during the year ended December 31, 2017 for additions to real estate investments. During the year ended December 31, 2017, the Company recognized $4,413,353 of total revenue related to these properties. The noncancellable lease terms of the properties acquired during the year ended December 31, 2017 are as follows: Property Lease Expiration Northrop Grumman 5/31/2021 exp US Services 11/30/2026 Harley 4/12/2032 Wyndham 2/28/2025 Williams Sonoma 10/31/2022 Omnicare 5/31/2026 EMCOR 2/28/2027 Husqvarna 6/30/2027(1) AvAir 12/31/2032 (1) The tenant’s right to cancel lease on June 30, 2025 was not determined to be probable for financial accounting purposes. Asset Concentration The Company’s portfolio asset concentration as of December 31 was as follows (greater than 10% of total assets): 2018 2017 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets AvAir, Chandler, AZ $ 26,634,909 10.6 % $ 27,353,125 17.4 % Costco, Issaquah, WA $ 29,974,716 11.9 % $ — — Revenue Concentration The Company’s revenue concentration based on tenants representing greater than 10% of total revenues for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue AvAir, Chandler, AZ $ 2,670,159 14.8 % $ 2,100,000 19.9 % Northrop Grumman, Melbourne, FL $ — — $ 1,162,274 11.0 % Operating Leases The Company’s real estate properties are primarily leased to tenants under triple-net leases for which terms and expirations vary. The Company monitors the credit of all tenants to stay abreast of any material changes in credit quality. The Company monitors tenant credit by (1) reviewing the credit ratings of tenants (or their parent companies or lease guarantors) that are rated by national recognized rating agencies; (2) reviewing financial statements and related metrics and information that are publicly available or that are required to be provided pursuant to the lease; (3) monitoring news reports and press releases regarding the tenants (or their parent companies or lease guarantors), and their underlying business and industry; and (4) monitoring the timeliness of rent collections. As of December 31, 2018, the future minimum contractual rent payments due under the Company’s operating leases, excluding any renewal periods, are as follows: 2019 $ 17,588,378 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 Thereafter 59,183,690 $ 140,196,892 Intangibles As of December 31, 2018 and 2017, the Company’s intangible assets were as follows: 2018 2017 Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) $ 8,340,774 $ 783,115 $ (1,653,771 ) Accumulated amortization (3,173,254 ) (198,867 ) 475,871 (1,192,318 ) (101,822 ) 69,542 Net amount $ 14,544,565 $ 584,248 $ (2,595,382 ) $ 7,148,456 $ 681,293 $ (1,584,229 ) The intangible assets acquired in connection with these acquisitions have a weighted average amortization period of approximately 7.6 Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles 2019 $ 2,792,209 $ 97,045 $ 474,391 2020 2,792,209 97,045 474,391 2021 2,375,950 78,994 474,391 2022 1,839,880 63,720 306,829 2023 1,214,116 63,719 78,370 Thereafter 3,530,201 183,725 787,010 $ 14,544,565 $ 584,248 $ 2,595,382 Weighted-Average Remaining Amortization Period 7.2 years 7.2 years 9.8 years

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED ENTITIES (Q2)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN UNCONSOLIDATED ENTITIES	NOTE 5. INVESTMENTS IN UNCONSOLIDATED ENTITIES The Company’s investments in unconsolidated entities are as follows: June 30, 2019 December 31, 2018 TIC Interest $ 10,627,777 $ 10,749,332 REIT I 3,359,296 3,526,483 $ 13,987,073 $ 14,275,815 The Company’s income from investments in unconsolidated entities, net is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 TIC Interest $ 71,703 $ 70,907 $ 152,063 $ 120,687 REIT I (15,748 ) (32,301 ) (22,075 ) (27,202 ) $ 55,955 $ 38,606 $ 129,988 $ 93,485 TIC Interest On September 28, 2017, the Company, through a wholly-owned subsidiary of the Operating Partnership, acquired an approximate 72.7% interest in an office property in San Clara, California. The remaining approximate 27.3% of undivided interest in the Santa Clara property is held by Hagg Lane II, LLC (an approximate 23.4%) and Hagg Lane III, LLC (an approximate 3.9%). The manager of Hagg Lane II, LLC and Hagg Lane III, LLC is a board member of the Sponsor. The Santa Clara property does not qualify as a variable interest entity and consolidation is not required as the Company’s TIC Interest does not control the property. Therefore, the Company accounts for the TIC Interest using the equity method. The Company receives approximately 72.7% of the cash flow distributions and recognizes approximately 72.7% of the results of operations. During the three months ended June 30, 2019 and 2018, the Company received $109,720 and $136,849 in cash distributions from its TIC Interest, respectively, and during the six months ended June 30, 2019 and 2018, the Company received $273,618 and $316,535, respectively. The following is summarized financial information for the Santa Clara property: June 30, 2019 December 31, 2018 Assets: Real estate investments, net $ 31,172,028 $ 31,668,300 Cash and cash equivalents 523,176 466,379 Other assets 183,352 117,075 Total assets $ 31,878,556 $ 32,251,754 Liabilities: Mortgage notes payable $ 13,871,312 $ 13,994,844 Below-market lease, net 3,028,569 3,103,778 Other liabilities 53,779 61,188 Total liabilities 16,953,660 17,159,810 Total equity 14,924,896 15,091,944 Total liabilities and equity $ 31,878,556 $ 32,251,754 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total revenues $ 693,571 $ 713,218 $ 1,359,992 $ 1,322,012 Expenses: Interest expense 143,367 145,960 285,886 290,985 Depreciation and amortization 248,136 248,136 496,272 495,349 Other expenses 203,452 223,358 368,697 369,694 Total expenses 594,955 617,454 1,150,855 1,156,028 Net income $ 98,616 $ 95,764 $ 209,137 $ 165,984 REIT I The Company’s investment in REIT I represented an approximate 4.8% ownership interest as of June 30, 2019 and December 31, 2018. The Company recorded its share of loss of REIT I based on REIT I’s results of operations for the three and six months ended June 30, 2019 and 2018. During the three months ended June 30, 2019 and 2018, the Company received $75,746 and $68,316 in cash distributions, respectively, related to its investment in REIT I and during the six months ended June 30, 2019 and 2018, the Company received $145,112 and $136,632, respectively. The following is summarized financial information for REIT I: June 30, 2019 December 31, 2018 Assets: Real estate investments, net $ 120,644,631 $ 125,075,537 Cash and cash equivalents and restricted cash 3,258,934 3,376,145 Other assets 2,647,717 3,070,475 Total assets $ 126,551,282 $ 131,522,157 Liabilities: Mortgage notes payable, net $ 62,033,836 $ 61,446,068 Below-market lease intangibles, net 2,675,761 3,105,843 Other liabilities 1,535,864 3,359,618 Total liabilities 66,245,461 67,911,529 Redeemable common stock — 163,572 Total shareholders’ equity 60,305,821 63,447,056 Total liabilities and shareholders’ equity $ 126,551,282 $ 131,522,157 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total revenues $ 3,277,710 $ 3,365,163 $ 6,566,354 $ 6,596,381 Expenses: Depreciation and amortization 1,444,354 1,409,093 2,886,414 2,857,337 Interest expense 982,223 631,838 1,845,396 1,116,711 Impairment of real estate investment property (1) — 862,190 — 862,190 Other expenses 1,175,029 1,206,883 2,403,892 2,386,920 Total expenses 3,601,606 4,110,004 7,135,702 7,223,158 Other income: Other income (2) — — 113,773 — Net loss $ (323,896 ) $ (744,841 ) $ (455,575 ) $ (626,777 ) (1) During the three months ended June 30, 2018, REIT I recorded an impairment charge of $862,190 related to its investment in a property in Antioch, California due to the expiration of the tenant’s lease term at December 31, 2017 and REIT I’s subsequent difficulties encountered during the first half of 2018 in its efforts to re-lease the property at acceptable rent rates and without incurring substantial potential tenant improvement costs. The impairment charge was less than 1.0% of REIT I’s total investments in real estate property and the book value of the property after the impairment charge was less than 2.0% of REIT I’s total investments in real estate property as of June 30, 2018. (2) The gain on sale of real estate investment property of $113,773 during the six months ended June 30, 2019 was due to the higher mortgage loan balance and related interest payable of the property in Antioch, California compared to its net book value when it was relinquished in a foreclosure sale on March 13, 2019.

DEBT (Q2)

DEBT (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT	NOTE 6. DEBT Mortgage Notes Payable As of June 30, 2019 and December 31, 2018, the Company’s mortgage notes payable consisted of the following: Collateral Principal Amount June 30, 2019 Principal Amount December 31, 2018 Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo/Walgreen properties $ 6,925,661 $ 6,996,469 3.95 % 3.95 % 7/1/2021 Dana property 4,592,001 4,632,398 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,852,196 3,885,334 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,769,600 5,820,600 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,573,200 4,615,800 One-month LIBOR+2.05% 4.05 % 6/5/2022 Omnicare property 4,311,660 4,349,963 4.36 % 4.36 % 5/1/2026 Harley property 6,808,386 6,868,254 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,738,558 5,809,367 4.40 % 4.40 % 3/2/2021 EMCOR property 2,887,126 2,911,577 4.35 % 4.35 % 12/1/2024 exp US Services property 3,416,049 3,446,493 (3 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 6,379,182 (4 ) 4.60 % 2/20/2028 AvAir property 14,575,000 14,575,000 (5 ) 4.84 % 3/27/2028 3M property 8,350,000 8,360,000 One-month LIBOR+2.25% 5.09 % 3/29/2023 Cummins property 8,519,800 8,530,000 One-month LIBOR+2.25% 5.16 % 4/4/2023 24 Hour Fitness property (6) 6,333,666 8,900,000 4.64 % 4.64 % 4/1/2049 Texas Health property (7) — 4,842,500 One-month LIBOR+4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 5,250,000 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 18,850,000 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 117,132,085 125,022,937 Less unamortized deferred financing costs (2,099,104 ) (2,313,629 ) $ 115,032,981 $ 122,709,308 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of June 30, 2019. Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 consisting of the contractual interest rate and the effect of the interest rate swap, if applicable. For further information regarding the Company’s derivative instruments, see Note 7. (2) The loans on each of the Williams Sonoma and Wyndham properties (collectively, the "Property") located in Summerlin, Nevada were originated by Nevada State Bank ("Bank"). The loans are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the loans, is an event of default under the terms of both loans. The value of the Property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the loan to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the loans so that the loan to value ratio is no more than 60%. (3) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (4) The initial contractual interest rate is 4.60% for the first five years and starting February 21, 2023, the interest rate is the greater of 4.60% or five-year Treasury Constant Maturity ("TCM") plus 2.45% for the second five years. (5) The initial contractual interest rate is 4.84% for the first five-years and starting March 28, 2023, the interest rate is the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (6) The loan refinancing on March 7, 2019 reduced the principal amount outstanding and the rate and extended the maturity. The interest rate for the note payable outstanding as of June 30, 2019 adjusts in the 133rd, 253rd and 313th months. (7) The loan was fully repaid on the March 13, 2019 maturity date. The following were the face value, carrying amount and fair value of the Company’s mortgage notes payable (Level 3 measurement): June 30, 2019 December 31, 2018 Face Value Carrying Value Fair Value Face value Carrying Value Fair Value Mortgage notes payable $ 117,132,085 $ 115,032,981 $ 123,128,492 $ 125,022,937 $ 122,709,308 $ 123,821,490 Disclosures of the fair values of financial instruments are based on pertinent information available to the Company as of the period end and require a significant amount of judgment. The actual value could be materially different from the Company’s estimate of value. Unsecured Credit Facility The Company, together with the Operating Partnership and NNN LP ("Borrowers"), has a Business Loan Agreement and Promissory Note (the "Unsecured Credit Facility") with Pacific Mercantile Bank ("Lender"). The Unsecured Credit Facility was a revolving unsecured line of credit for a maximum principal amount of $9,000,000 and was scheduled to mature on January 26, 2019, unless earlier terminated. The Borrowers received extensions of the Unsecured Credit Facility through April 30, 2019. On April 30, 2019, Borrowers entered into a new Loan Agreement (the "New Credit Facility") with Lender. The New Credit Facility replaces the $9,000,000 unsecured line of credit with Lender, which expired on April 30, 2019. The New Credit Facility is a revolving unsecured line of credit for a maximum principal amount of $10,000,000 and matures on October 1, 2020, unless earlier terminated. The New Credit Facility has similar terms to the expired facility. The New Credit Facility is secured by a continuing guaranty executed by the Company’s Sponsor and Advisor, along with springing guaranties executed by Raymond E. Wirta, Chairman of the Board of the Company, and a trust belonging to Mr. Wirta, each in the amount of $10,000,000. Mr. Wirta’s guaranties become effective upon certain triggering events, including the failure by Borrowers to pay one or more subsequent advances within 90 days of disbursement or an event of default under the New Credit Facility. Under the terms of the New Credit Facility, Borrowers pay a variable rate of interest on outstanding amounts equal to one (1) percentage point over an independent index published in The Wall Street Journal based on the highest rate on corporate loans posted by at least 75% of the largest banks (the "Index"). The interest rate was 6.50% as of June 30, 2019 and December 31, 2018. The New Credit Facility contains customary representations, warranties and covenants. The Company’s ability to borrow under the New Credit Facility is subject to its ongoing compliance with various affirmative and negative covenants, including with respect to indebtedness, guaranties, mergers and asset sales, liens, dividends, corporate existence and financial reporting obligations. The New Credit Facility also contains customary events of default, including, without limitation, nonpayment of principal, interest, fees or other amounts when due, violation of covenants, breaches of representations or warranties and change of ownership. Upon the occurrence of an event of default, Lender may accelerate the repayment of amounts outstanding under the New Credit Facility and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. As of June 30, 2019 and December 31, 2018 the Company had $0 and $9,000,000 of outstanding borrowings, respectively, under the New Credit Facility and Unsecured Credit Facility, as then in effect. All Debt Agreements Pursuant to the terms of mortgage notes payable on certain of the Company’s properties and the Unsecured Credit Facility, the Company and/or the Borrowers are subject to certain financial loan covenants. The Company and/or the Borrowers were in compliance with all terms and conditions of the applicable loan agreements as of June 30, 2019. The following summarizes the future principal repayments of the Company’s mortgage notes payable and New Credit Facility as of June 30, 2019: Mortgage Note Payable New Credit Facility Total July through December 2019 $ 637,333 $ — $ 637,333 2020 1,523,095 — 1,523,095 2021 8,223,343 — 8,223,343 2022 14,617,593 — 14,617,593 2023 21,247,852 — 21,247,852 2024 12,966,778 — 12,966,778 Thereafter 57,916,091 — 57,916,091 Total principal 117,132,085 — 117,132,085 Less: Deferred financing costs, net (2,099,104 ) — (2,099,104 ) Net principal $ 115,032,981 $ — $ 115,032,981 Interest Expense The following is a reconciliation of the components of interest expense for the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Mortgage notes payable: Interest expense $ 1,368,662 $ 996,756 $ 2,845,158 $ 1,822,477 Amortization of deferred financing costs 109,071 98,648 379,593 505,534 Loss (gain) on interest rate swaps (1) 562,571 15,877 890,385 (213,389 ) Unsecured credit facility: Interest expense 27,918 83,408 111,436 166,397 Amortization of deferred financing costs 8,503 8,571 10,503 12,857 Total interest expense $ 2,076,725 $ 1,203,260 $ 4,237,075 $ 2,293,876 (1) Includes unrealized loss (gain) on interest rate swaps of $553,490 and $6,235 for the three months ended June 30, 2019 and 2018, respectively, and $874,016 and $(220,571) for the six months ended June 30, 2019 and 2018, respectively, (see Note 7). Accrued interest payable, net of $4,208 and $5,950 at June 30, 2019 and December 31, 2018, respectively, represents the unsettled portion of the interest rate swaps from the last settlement period through the respective balance sheet dates.	NOTE 6. DEBT Mortgage Notes Payable As of December 31, 2018 and 2017, the Company’s mortgage notes payable consisted of the following: Collateral 2018 Principal Balance 2017 Principal Balance Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo Health/Walgreen properties $ 6,996,469 $ 7,133,966 3.95 % 3.95 % 7/1/2021 Dana property 4,632,398 4,709,889 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,885,334 3,951,846 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,820,600 5,920,800 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,615,800 4,699,200 One-month LIBOR+2.05% 4.34 % 6/5/2022 Omnicare property 4,349,963 4,423,574 4.36 % 4.36 % 5/1/2026 Harley property 6,868,254 6,983,418 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,809,367 5,945,655 4.40 % 4.40 % 3/2/2021 EMCOR property 2,911,577 2,955,000 4.35 % 4.35 % 12/1/2024 exp US Services property 3,446,493 3,505,061 (4 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 — (5 ) 4.60 % 2/20/2028 AvAir property (3) 14,575,000 12,000,000 (6 ) 4.84 % 3/27/2028 3M property 8,360,000 — One-month LIBOR +2.25% 5.09 % 3/29/2023 Cummins property 8,530,000 — One-month LIBOR +2.25% 5.16 % 4/4/2023 24 Hour Fitness property 8,900,000 — One-month LIBOR +4.30% 6.56 % 3/17/2019 Texas Health property 4,842,500 — One-month LIBOR +4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 — 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 — 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 125,022,937 62,228,409 Less unamortized deferred financing costs (2,313,629 ) (1,741,106 ) Mortgage notes payable, net $ 122,709,308 $ 60,487,303 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of December 31, 2018. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2018 (consisting of the contractual interest rate and the effect of the interest rate swap, if applicable). For further information regarding the Company’s derivative instruments (see Note 7). (2) The notes on each of the Williams Sonoma and Wyndham properties (collectively, the “Property”) located in Summerlin, Nevada were originated by Nevada State Bank (“Bank”). The notes are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the notes is an event of default under the terms of both notes. The value of the property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the note to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the notes so that the note to value ratio is no more than 60%. (3) On March 27, 2018, the Company refinanced the mortgage note payable as of December 31, 2017 with a new note for $14,575,000 through a nonaffiliated lender. The note is secured by the AvAir property and it matures on March 27, 2028. (4) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (5) The initial contractual interest rate is 4.60% for the first five years and the greater of 4.60% or five-year Treasury Constant Maturity (“TCM”) plus 2.45% for the second five years. (6) The initial contractual interest rate for the note payable outstanding as of December 31, 2018 is 4.84% for the first five-years and the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (7) On March 7, 2019, the Company refinanced the mortgage note payable as of March 17, 2019 with a new note for $6,350,000 through a nonaffiliated lender. The new note is secured by the 24 Hour Fitness property and it matures on March 7, 2049. (8) On March 13, 2019, the Company repaid this mortgage note payable with borrowings under its unsecured line of credit. The following were the face value, carrying amount and fair value of the Company’s mortgage notes payable as of December (Level 3 measurement): 2018 2017 Face Value Carrying Value Fair Value Face Value Carrying Value Fair Value Mortgage notes payable $ 125,022,937 $ 122,709,308 $ 123,821,490 $ 62,228,409 $ 60,487,303 $ 62,363,284 Disclosures of the fair values of financial instruments is based on pertinent information available to the Company as of the period end and require a significant amount of judgment. The actual value could be materially different from the Company’s estimate of value. Unsecured Credit Facility On February 1, 2018, the Company, together with the Operating Partnership and Rich Uncles NNN LP, LLC (“Borrowers”), entered into a Business Loan Agreement and Promissory Note (the “Unsecured Credit Facility”) with Pacific Mercantile Bank (“Lender”). The Unsecured Credit Facility replaced the $12,000,000 unsecured line of credit with Lender, which expired on January 26, 2018 (the “Former Credit Facility”). The Unsecured Credit Facility is a revolving unsecured line of credit for a maximum principal amount of $9,000,000 and was scheduled to mature on January 26, 2019, unless earlier terminated. Under the terms of the Unsecured Credit Facility, Borrowers pay a variable rate of interest on outstanding amounts equal to one (1) percentage point over an independent index published in The Wall Street Journal based on the highest rate on corporate loans posted by at least 75% of the largest banks (the “Index”). Based upon the Index as of the date of the Unsecured Credit Facility, the interest rate under the Unsecured Credit Facility was 6.5% as of December 31, 2018. The Borrowers received extensions of the Unsecured Credit Facility until April 30, 2019 as discussed in Note 10. The Unsecured Credit Facility contains customary representations, warranties and covenants, which are substantially similar to those in the Former Credit Facility. The Company’s ability to borrow under the Unsecured Credit Facility will be subject to its ongoing compliance with various affirmative and negative covenants, including with respect to indebtedness, guaranties, mergers and asset sales, liens, dividends, corporate existence and financial obligations. The Unsecured Credit Facility also contains customary events of default, including, without limitation, nonpayment of principal, interest, fees or other amounts when due, violation of covenants, breaches of representations or warranties and change of ownership. Upon the occurrence of an event of default, Lender may accelerate the repayment of amounts outstanding under the Unsecured Credit Facility and exercise other remedies subject, in certain instances, to the expiration of an applicable cure period. The Unsecured Credit Facility is secured by guaranties executed by Raymond E. Wirta, Chairman of the Board of the Company, a trust belonging to Mr. Wirta, Harold C. Hofer, and a trust belonging to Mr. Hofer, each in the amount of $9,000,000. Such guaranties become effective upon certain triggering events, including an event of default under the Unsecured Credit Facility and the failure by Borrowers to pay one or more subsequent advances within 90 days of disbursement. As of December 31, 2018, the Company’s current Unsecured Credit Facility had total outstanding borrowings of $9,000,000. As of December 31, 2017, the Company’s Former Credit Facility had total outstanding borrowings of $12,000,000. All Debt Agreements Pursuant to the terms of mortgage notes payable on certain of the Company’s properties and the Unsecured Credit Facility, the Company and/or the Borrowers are subject to certain financial loan covenants. The Company and/or the Borrowers were in compliance with all terms and conditions of the applicable loan agreements as of December 31, 2018. The following summarizes the future principal repayments of the Company’s mortgage notes payable and Unsecured Credit Facility as of December 31, 2018: Mortgage Notes Payable Unsecured Credit Facility Total 2019 $ 14,852,271 $ 9,000,000 (1) $ 23,852,271 2020 1,435,312 — 1,435,312 2021 8,130,359 — 8,130,359 2022 14,516,126 — 14,516,126 2023 21,115,026 — 21,115,026 Thereafter 64,973,843 — 64,973,843 Total principal 125,022,937 9,000,000 134,022,937 Deferred financing costs, net (2,313,629 ) (2,000 ) (2,315,629 ) Total $ 122,709,308 $ 8,998,000 $ 131,707,308 (1) The maturity date of the outstanding borrowings under the Company's Unsecured Credit Facility was extended to April 30, 2019, as discussed in Note 10. Interest Expense The following is a reconciliation of the components of interest expense: Year Ended December 31, 2018 2017 Mortgage notes payable: Interest expense $ 4,065,686 $ 1,191,351 Amortization of deferred financing costs 897,535 168,546 Loss (gain) on interest rate swaps (1) 261,198 (1,668 ) Unsecured credit facility: Interest expense 323,409 248,637 Amortization of deferred financing costs 30,000 1,118 Forfeited loan fee — 30,000 Total interest expense $ 5,577,828 $ 1,637,984 (1) Includes unrealized loss (gain) on interest rate swaps of $157,613 and $(7,899) for years ended December 31, 2018 and 2017, respectively, (see Note 7). Accrued interest payable of $7,649 and $6,231 at December 31, 2018 and 2017, respectively, represents the unsettled portion of the interest rate swaps for the period from origination of the interest rate swap through the respective balance sheet dates.

INTEREST RATE SWAP DERIVATIVE_2

INTEREST RATE SWAP DERIVATIVES (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
INTEREST RATE SWAP DERIVATIVES	NOTE 7. INTEREST RATE SWAP DERIVATIVES The Company, through its wholly-owned limited liability company subsidiaries, has entered into interest rate swap agreements with amortizing notional amounts relating to four of its mortgage notes payable. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks. The following table summarizes the notional amount and other information related to the Company’s interest rate swaps: June 30, 2019 December 31, 2018 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,212,600 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.71 % 4.6 years 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of June 30, 2019 was $24,967,299. (ii) The reference rate as of June 30, 2019. (iii) The reference rate as of December 31, 2018. The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the condensed consolidated balance sheets: June 30, 2019 December 31, 2018 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value — $ — 2 $ 151,215 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 4 $ (1,023,730 ) 2 $ (300,929 ) The change in fair value of a derivative instrument that is not designated as a cash flow hedge for financial accounting purposes is recorded as interest expense in the condensed consolidated statements of operations. None of the Company’s derivatives at June 30, 2019 or December 31, 2018 were designated as hedging instruments; therefore, the net unrealized loss (gain) recognized on interest rate swaps of $553,490 and $6,235 was recorded as an increase (decrease) in interest expense for the three months ended June 30, 2019 and 2018, respectively, and $874,016 and $(220,571) was recorded as an increase (decrease) in interest expense for the six months ended June 30, 2019 and 2018, respectively (see Note 6).	NOTE 7. INTEREST RATE SWAP DERIVATIVES The Company, through its wholly-owned limited liability company subsidiaries, has entered into interest rate swap agreements with amortizing notational amounts relating to four of its mortgage notes payable. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks. The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of December 31, 2018 and 2017. 2018 2017 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years 2 $ 10,620,000 One-month LIBOR + applicable spread/Fixed at 4.05%-4.34% 4.21 % 7.2 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of December 31, 2018 was $24,936,799. (ii) The reference rate was December 31, 2018. (iii) The reference rate was December 31, 2017. The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the consolidated balance sheets: December 31, 2018 December 31, 2017 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value 2 $ 151,215 2 $ 7,899 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 2 $ (300,929 ) — $ — The change in fair value of a derivative instrument that is not designated as a cash flow hedge for financial accounting purposes is recorded as interest expense in the consolidated statements of operations. None of the Company’s derivatives at December 31, 2018 or 2017 were designated as hedging instruments; therefore, the net unrealized losses (gains) recognized on interest rate swaps of $157,613 and ($7,899), respectively, was recorded as an increase (decrease) in interest expense for year ended December 31, 2018 and 2017, respectively (see Note 6).

RELATED PARTY TRANSACTIONS (Q2)

RELATED PARTY TRANSACTIONS (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 8. RELATED PARTY TRANSACTIONS The Company pays the members of its board of directors who are not executive officers for services rendered by issuing shares of Class C common stock to them. The total amount paid was $55,000 and $43,215 for the three months ended June 30, 2019 and 2018, respectively, for which the Company issued 5,414 and 4,300 shares, respectively and $105,000 and $81,405 for the six months ended June 30, 2019 and 2018, respectively, for which the Company issued 10,335 and 8,100 shares, respectively. The Company also accrued $71,667 for directors fees earned in the second quarter of 2019 and paid in the third quarter of 2019. The Company has entered into an agreement (as amended, the "Advisory Agreement") with the Advisor. On August 9, 2019, the Advisory Agreement was further amended to delete the subordinated participation fee from the agreement. On August 9, 2019, the board of directors of the Company, including all of the independent directors, also approved renewing the Advisory Agreement, which was scheduled to expire on August 11, 2019 to December 31, 2019. This Advisory Agreement entitles the Advisor to specified fees upon the provision of certain services with regard to investments in real estate and the management of those investments, among other services, and the disposition of investments, as well as entitling the Advisor to reimbursement of organizational and offering costs incurred by the Advisor or Sponsor on behalf of the Company, such as expenses related to the Offerings, and certain costs incurred by the Advisor or Sponsor in providing services to the Company. In addition, the Advisor is entitled to certain other fees as detailed in the Advisory Agreement. The Sponsor also serves as the sponsor for REIT I and BRIX REIT, Inc. ("BRIX REIT"). During the three and six months ended June 30, 2019 and 2018, no business transactions occurred between the Company and REIT I, or BRIX REIT, other than as described below or elsewhere herein, and those relating to the Company’s investment in REIT I described in Note 5. Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the three and six months ended June 30, 2019 and 2018: Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 June 30, 2018 December 31, 2018 Incurred Incurred Receivable Payable Incurred Incurred Receivable Payable Expensed: Asset management fees (1) $ 680,019 $ 1,360,037 $ — $ — $ 477,915 $ 879,230 $ — $ — Subordinated participation fees — — — — — — — 839,050 Operating expense reimbursements (2) 132,000 264,000 — — — — — — Fees to affiliates 812,019 1,624,037 477,915 879,230 Property management fees* 56,122 112,072 — — 19,212 32,151 — 96,792 Directors and officers insurance and other reimbursements** 70,785 133,675 — — 36,083 52,716 — 30,164 Expense reimbursements (from) to Sponsor (3) (148,233 ) (236,232 ) 4,236 2,313 (293,939 ) (653,453 ) 16,838 — Capitalized: Acquisition fees — — — — 496,358 952,358 — — Financing coordination fees — 63,500 — — — 209,550 — — Reimbursable organizational and offering expenses (4) — — — 27,969 386,053 816,297 — 13,168 $ 4,236 $ 30,282 $ 16,838 $ 979,174 * Property management fees are classified within property operating expenses in the condensed consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses in the condensed consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the three and six months ended June 30, 2019 and 2018, the Advisor did not waive any of the asset management fees. In addition to amounts presented in this table, the Company also incurred asset management fees to the Advisor of $47,977 and $47,977 related to the TIC Interest during the three months ended June 30, 2019 and 2018, respectively, which amounts are reflected as a reduction of income recognized from investments in unconsolidated entities and $95,953 and $95,953 during the six months ended June 30, 2019 and 2018, respectively (see Note 5). (2) Reflects reimbursement for personnel and overhead costs billed by the Advisor in compliance with the 2%/25% Limitation. (3) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See " Investor Relations Payroll Expense Reimbursement from Sponsor" . (4) As of June 30, 2019, the Sponsor had incurred $8,815,104 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds resulting in a total reimbursement amount of $5,120,687 as of June 30, 2019. Organizational and Offering Expenses The Company is obligated to reimburse the Sponsor or its affiliates for organizational and offering expenses (as defined in the Advisory Agreement) paid by the Sponsor on behalf of the Company. The Company will reimburse the Sponsor for organizational and offering expenses up to 3% of gross offering proceeds. The Sponsor and affiliates will be responsible for any organizational and offering expenses to the extent they exceed 3% of gross offering proceeds. As of June 30, 2019, the Sponsor has incurred organizational and offering expenses in excess of 3% of the gross offering proceeds received by the Company. To the extent the Company has more gross offering proceeds from future stockholders, the Company will be obligated to reimburse the Sponsor. As the amount of future gross offering proceeds is uncertain, the amount the Company is obligated to reimburse to the Sponsor is uncertain. As of June 30, 2019, the Company has reimbursed the Sponsor $5,092,718 in organizational and offering costs. The Company’s maximum liability for organizational and offering costs through June 30, 2019 was $5,120,687, of which $27,969 was payable as of June 30, 2019 and is included in "Due to affiliates" in the condensed consolidated balance sheet. Investor Relations Payroll Expense Reimbursement from Sponsor The Company employs investor relations personnel that answer inquiries from potential investors regarding the Company and/or its Registered Offering. The payroll expense associated with the investor relations personnel is reimbursed by the Sponsor. The Sponsor considers these payroll costs to be offering expenses. The payroll expense reimbursements from the Sponsor for the three months ended June 30, 2019 and 2018 were $143,997 and $242,416, respectively, and for the six months ended June 30, 2019 and 2018 were $272,911 and $553,508, respectively. The reduction in reimbursements during the 2019 period reflects a reduction in the number of investor relations personnel and related costs. Acquisition Fees The Company pays the Advisor a fee in an amount equal to 3% of the contract purchase price of the Company’s properties plus additions to real estate investments, as defined, as acquisition fees. The total of all acquisition fees and acquisition expenses shall be reasonable and shall not exceed 6% of the contract price of the property. However, a majority of the directors (including a majority of the independent directors) not otherwise interested in the transaction may approve fees in excess of these limits if they determine the transaction to be commercially competitive, fair and reasonable to the Company. Asset Management Fees The Company pays the Advisor, as compensation for the advisory services rendered to the Company, a monthly fee in an amount equal to 0.1% of the total investment value, as defined (the "Asset Management Fee"), as of the end of the preceding month plus the book value of any properties or property improvements acquired during the month pro-rated based on the number of days owned. The Asset Management Fee is payable monthly on the last business day of such month. The Asset Management Fee, which must be reasonable in the determination of the Company’s independent directors at least annually, may or may not be taken, in whole or in part as to any year, in the sole discretion of the Advisor. All or any portion of the Asset Management Fee not paid as to any fiscal year is deferred without interest and may be paid in such other fiscal year as the Advisor shall determine. Additionally, to the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly Asset Management Fee, the Advisor will be deemed to have waived, not deferred, that portion of its monthly Asset Management Fee that is up to 0.025% of the total investment value of the Company’s assets. The total amount of Asset Management Fees incurred in the three months ended June 30, 2019 and 2018 was $680,018 and $477,915 respectively, none of which was waived. The total amount of Asset Management Fees incurred in the six months ended June 30, 2019 and 2018 was $1,360,037 and $879,230 respectively, of which none was waived. There were no Asset Management Fees payable at June 30, 2019 and December 31, 2018. Financing Coordination Fees Other than with respect to any mortgage or other financing related to a property concurrent with its acquisition, if the Advisor or an affiliate provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the post-acquisition financing or refinancing of any debt that the Company obtains relative to a property, then the Company pays to the Advisor or such affiliate a financing coordination fee equal to 1% of the amount of such financing. The Company did not pay any financing coordination fees during the three months ended June 30, 2019 and 2018 as there were no loans obtained during both quarters, and paid $63,500 and $209,550 of financing coordination fees during the six months ended June 30, 2019 and 2018 related to one and three loans, respectively. Property Management Fees If the Advisor or any of its affiliates provides a substantial amount of the property management services (as determined by a majority of the Company’s independent directors) for the Company’s properties, then the Company pays the Advisor or such affiliate a property management fee equal to 1.5% of gross revenues from the properties managed. The Company also reimburses the Advisor and any of its affiliates for property-level expenses that such tenant pays or incurs to the Company, including salaries, bonuses and benefits of persons employed by the Advisor, except for the salaries, bonuses and benefits of persons who also serve as one of the Company’s executive officers or as an executive officer of such person. The Advisor or its affiliate may subcontract the performance of its property management duties to third parties and pay all or a portion of its property management fee to the third parties with whom it contracts for these services. Disposition Fees For substantial assistance in connection with the sale of properties, the Company pays the Advisor or one of its affiliates 3% of the contract sales price, as defined, of each property sold; provided, however, that if, in connection with such disposition, commissions are paid to third parties unaffiliated with the Advisor or its affiliates, the disposition fees paid to the Advisor, the Sponsor, their affiliates and unaffiliated third parties may not exceed the lesser of the competitive real estate commission or 6% of the contract sales price. There were no disposition fees incurred during the three and six months ended June 30, 2019 and 2018. Subordinated Participation Fees For 2017 and 2018, the Company owed the Advisor or an affiliate a subordinated participation fee calculated as of December 31 of each year which was paid in the immediately following January. On August 9, 2019, the Advisory Agreement was amended to delete the subordinated participation fee from the agreement. The subordinated participation fee was only due if the Preferred Return, as defined, was achieved and was equal to the sum of (using terms as defined in the Advisory Agreement): (i) 30% of the product of (a) the difference of (x) the Preliminary NAV per share minus (y) the Highest Prior NAV per share, multiplied by (b) the number of shares outstanding as of December 31 of the relevant annual period, but only if this results in a positive number, plus (ii) 30% of the product of: (a) the amount by which aggregate distributions to stockholders during the annual period, excluding return of capital distributions, divided by the weighted average number of shares outstanding for the annual period, exceed the Preferred Return, multiplied by (b) the weighted average number of shares outstanding for the annual period calculated on a monthly basis. The Company calculated subordinated participation fees of $839,050 and $315,802 which were accrued as of December 31, 2018 and 2017, respectively, and paid in cash during the first quarter of 2019 and 2018, respectively. Leasing Commission Fees If a property or properties of the Company becomes unleased and the Advisor or any of its affiliates provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the Company’s leasing of a property or properties to unaffiliated third parties, then the Company pays the Advisor or such affiliate leasing commissions equal to 6% of the rents due pursuant to such lease for the first ten years of the lease term; provided, however (i) if the term of the lease is less than ten years, such commission percentage will apply to the full term of the lease and (ii) any rents due under a renewal of a lease of an existing tenant upon expiration of the initial lease agreement (including any extensions provided for thereunder) shall accrue a commission of 3% in lieu of the aforementioned 6% commission. There were no leasing commission fees incurred during the three and six months ended June 30, 2019 and 2018. Operating Expenses Under the Company's charter, total operating expenses of the Company are limited to the greater of 2% of average invested assets or 25% of net income for the four most recently completed fiscal quarters (the "2%/25% Limitation"). If the Company exceeds the 2%/25% Limitation, the Advisor must reimburse the Company the amount by which the aggregate total operating expenses exceeds the limitation, or the Company must obtain a waiver from the Company's conflicts committee. For purposes of determining the 2%/25% Limitation amount, "average invested assets" means the average monthly book value of the Company’s assets invested directly or indirectly in equity interests and loans secured by real estate during the 12-month period before deducting depreciation, reserves for bad debts or other non-cash reserves. "Total operating expenses" means all expenses paid or incurred by the Company, as determined by GAAP, that are in any way related to the Company’s operation including asset management fees, but excluding (a) the expenses of raising capital such as organization and offering expenses, legal, audit, accounting, underwriting, brokerage, listing, registration and other fees, printing and other such expenses and taxes incurred in connection with the issuance, distribution, transfer, listing and registration of shares of the Company’s common stock; (b) interest payments; (c) taxes; (d) non-cash expenditures such as depreciation, amortization and bad debt reserves; (e) reasonable incentive fees based upon increases in NAV per share; (f) acquisition fees and acquisition expenses (including expenses, relating to potential investments that the Company does not close); and (h) disposition fees on the sale of real property and other expenses connected with the acquisition, disposition and ownership of real estate interests or other property (other than disposition fees on the sale of assets other than real property), including the costs of insurance premiums, legal services, maintenance, repair and improvement of real property. The Company is in compliance with the 2%/25% Limitation for operating expenses for the four fiscal quarters ended June 30, 2019.	NOTE 8. RELATED PARTY TRANSACTIONS The Company pays the members of its board of directors who are not executive officers for services rendered by issuing shares of Class C common stock to them. The total amount paid was $167,835 and $163,000 for the years ended December 31, 2018 and 2017, respectively. The Company has entered into an agreement (as amended the “Advisory Agreement”) with the Advisor. This agreement entitles the Advisor to specified fees upon the provision of certain services with regard to investments in real estate and the management of those investments, among other services, and the disposition of investments, as well as entitling the Advisor to reimbursement of organizational and offering costs incurred by the Advisor or Sponsor on behalf of the Company, such as expenses related to the Offerings, and certain costs incurred by the Advisor or Sponsor in providing services to the Company. In addition, the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. The Sponsor also serves as the sponsor for REIT I and BRIX REIT, Inc. (“BRIX REIT”). During the years ended December 31, 2018 and 2017, no other business transactions occurred between the Company and REIT I or BRIX REIT, other than described below or elsewhere herein, and those relating to the Company’s investment in REIT I. Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the years ended December 31, 2018 and 2017, respectively: Year Ended December 31, 2018 December 31, 2018 Year Ended December 31, 2017 December 31, 2017 Incurred Receivable Payable Incurred Receivable Payable Expensed: Asset management fees (1) $ 2,004,760 $ — $ — $ 872,281 $ — $ 567,661 Subordinated participation fees 839,050 — 839,050 315,802 — 315,802 Fees to affiliates 2,843,810 — — 1,188,083 — — Property management fees* 174,529 — 96,792 20,251 — 7,969 Directors and officers insurance and other reimbursements ** 128,512 — 30,164 — — — Expense reimbursements (from) to Sponsor (2) (1,136,469 ) 16,838 — (2,324,598 ) 34,194 — Waiver of asset management fees (1) — — — (143,540 ) — — Capitalized: Acquisition fees 2,752,339 — — 3,661,684 (5) — — Financing coordination fees 262,050 — — 326,600 — — Reimbursable organizational and offering expenses (3) 1,503,062 — 13,168 1,986,147 — 15,945 Other: Due to REIT I — — — 48,418 (4) — — Payable to TIC — — — 363,168 (6) — — $ 16,838 $ 979,174 $ 34,194 $ 907,377 * Property management fees are classified within property operating expenses on the consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses on the consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the years ended December 31, 2018 and 2017, the Advisor waived $0 and $143,540, respectively, of asset management fees, which are not subject to future recoupment by the Advisor. (2) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See “ Investor Relations Payroll Expense Reimbursement from Sponsor” . (3) As of December 31, 2018, the Sponsor had incurred $8,442,205 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds. (4) This amount was the result of a bank error. The Company incurred $48,418 of interest on its unsecured credit facility for the year ended December 31, 2017. The monthly interest payment that was due on the unsecured credit facility was withdrawn from REIT I’s bank account rather than from the Company’s bank account. This amount was repaid in 2017. (5) Includes $626,073 relating to the Santa Clara property. See Related Party Transactions with Unconsolidated Entities (6) After closing the acquisition of the Santa Clara property, the Company received $363,168 from the title company. These proceeds represent cash received by the title company in excess of the amounts needed to acquire the property. At December 31, 2017, these proceeds were paid in full to the TIC which owns the property. Organizational and Offering Costs The Company is obligated to reimburse the Sponsor or its affiliates for organizational and offering expenses (as defined in the Advisory Agreement) paid by the Sponsor on behalf of the Company. The Company will reimburse the Sponsor for organizational and offering expenses up to 3.0% of gross offering proceeds. The Sponsor and affiliates will be responsible for any organizational and offering expenses to the extent they exceed 3.0% of gross offering proceeds. As of December 31, 2018, the Sponsor has incurred organizational and offering expenses in excess of 3.0% of the gross offering proceeds received by the Company. To the extent the Company has more gross offering proceeds from future stockholders, the Company will be obligated to reimburse the Sponsor. As the amount of future gross offering proceeds is uncertain, the amount the Company is obligated to reimburse to the Sponsor is uncertain. As of December 31, 2018, the Company has reimbursed the Sponsor $4,215,004 in organizational and offering costs. The Company’s maximum liability for organizational and offering costs through December 31, 2018 was $4,228,172, of which $13,168 was payable as of December 31, 2018 and is included in “Due to affiliates” in the consolidated balance sheet. Investor Relations Payroll Expense Reimbursements from Sponsor The Company employs investor personnel that answer inquiries from potential investors regarding the Company and/or its Registered Offering. The payroll expense associated with the investor relations personnel is reimbursed by the Sponsor. The Sponsor considers these payroll costs to be offering expenses. The payroll expense reimbursements from the Sponsor for the year ended December 31, 2018 and 2017 were $875,100 and $2,324,598, respectively. The significant reduction in reimbursements during the 2018 periods corresponds primarily to a reduction in the number of investor relations personnel and related costs. Acquisition Fees The Company pays the Advisor a fee in an amount equal to 3.0% of the contract purchase price of the Company’s properties plus additions to real estate investments, as defined, as acquisition fees. The total of all acquisition fees and acquisition expenses shall be reasonable and shall not exceed 6.0% of the contract price of the property. However, a majority of the directors (including a majority of the independent directors) not otherwise interested in the transaction may approve fees in excess of these limits if they determine the transaction to be commercially competitive, fair and reasonable to the Company. Asset Management Fees The Company pays the Advisor, as compensation for the advisory services rendered to the Company, a monthly fee in an amount equal to 0.1% of the total investment value, as defined (the “Asset Management Fee”), as of the end of the preceding month plus the book value of any properties acquired during the month pro-rated based on the number of days owned. The Asset Management Fee is payable monthly on the last business day of such month. On August 2, 2018, the conflicts committee, which is comprised of all of the independent directors of the Company, approved, and on August 3, 2018 the board of directors approved, renewing the Advisory Agreement for an additional year, to August 11, 2019. At the same time, the board of directors also approved amendments to the Advisory Agreement which provide for (i) paying the Asset Management Fee for assets acquired during a month based on the pro-rated number of days following acquisition and (ii) paying the Asset Management Fee on the last business day of the month. The Asset Management Fee, which must be reasonable in the determination of the Company’s independent directors at least annually, may or may not be taken, in whole or in part as to any year, in the sole discretion of the Advisor. All or any portion of the Asset Management Fee not paid as to any fiscal year is deferred without interest and may be paid in such other fiscal year as the Advisor shall determine. Additionally, to the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly Asset Management Fee, the Advisor will be deemed to have waived, not deferred, that portion of its monthly Asset Management Fee that is up to 0.025% of the total investment value of the Company’s assets. The total amount of Asset Management Fees incurred in the years ended December 31, 2018 and 2017 was $2,004,760 and $872,281, respectively, of which $0 and $143,540, respectively, was waived. Asset Management Fees payable at December 31, 2018 and 2017 were $0 and $567,661, respectively. Financing Coordination Fee Other than with respect to any mortgage or other financing related to a property concurrent with its acquisition, if the Advisor or an affiliate provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the post-acquisition financing or refinancing of any debt that the Company obtains relative to a property, then the Company pays to the Advisor or such affiliate a financing coordination fee equal to 1.0% of the amount of such financing. The Company paid and capitalized an aggregate of $262,050 related to three loans during the year ended December 31, 2018 and an aggregate of $326,600 related to seven loans during the year ended December 31, 2017. Property Management Fees If the Advisor or any of its affiliates provides a substantial amount of the property management services (as determined by a majority of the Company’s independent directors) for the Company’s properties, then the Company pays the Advisor or such affiliate a property management fee equal to 1.5% of gross revenues from the properties managed. The Company also reimburses the Advisor and any of its affiliates for property-level expenses that such tenant pays or incurs to the Company, including salaries, bonuses and benefits of persons employed by the Advisor, except for the salaries, bonuses and benefits of persons who also serve as one of the Company’s executive officers or as an executive officer of such person. The Advisor or its affiliate may subcontract the performance of its property management duties to third parties and pay all or a portion of its property management fee to the third parties with whom it contracts for these services. The Company provided property management services for 10 and five properties in its portfolio during the years ended December 31, 2018 and 2017, respectively. Disposition Fees For substantial assistance in connection with the sale of properties, the Company pays the Advisor or one of its affiliates 3.0% of the contract sales price, as defined, of each property sold; provided, however, that if, in connection with such disposition, commissions are paid to third parties unaffiliated with the Advisor or its affiliates, the disposition fees paid to the Advisor, the Sponsor, their affiliates and unaffiliated third parties may not exceed the lesser of the competitive real estate commission or 6% of the contract sales price. There were no disposition fees incurred during the years ended December 31, 2018 and 2017. Subordinated Participation Fees The Company pays the Advisor or an affiliate a subordinated participation fee calculated as of December 31 of each year and paid (if at all) in the immediately following January. The subordinated participation fee is only due if the Preferred Return, as defined, is achieved and is equal to the sum of (using terms as defined in the Advisory Agreement): (i) 30% of the product of (a) the difference of (x) the Preliminary NAV per share minus (y) the Highest Prior NAV per share, multiplied by (b) the number of shares outstanding as of December 31 of the relevant annual period, but only if this results in a positive number, plus (ii) 30% of the product of: (a) the amount by which aggregate distributions to stockholders during the annual period, excluding return of capital distributions, divided by the weighted average number of shares outstanding for the annual period, exceed the Preferred Return, multiplied by (b) the weighted average number of shares outstanding for the annual period calculated on a monthly basis. The Company calculated a subordinated participation fee of $839,050 and $315,802 which was accrued as of December 31, 2018 and 2017, respectively, and paid in cash during the first quarters of 2019 and 2018, respectively. Leasing Commission Fees If a property or properties of the Company becomes unleased and the Advisor or any of its affiliates provides a substantial amount of the services (as determined by a majority of the Company’s independent directors) in connection with the Company’s leasing of a property or properties to unaffiliated third parties, then the Company pays the Advisor or such affiliate leasing commissions equal to 6.0% of the rents due pursuant to such lease for the first ten years of the lease term; provided, however (i) if the term of the lease is less than ten years, such commission percentage will apply to the full term of the lease and (ii) any rents due under a renewal of a lease of an existing tenant upon expiration of the initial lease agreement (including any extensions provided for thereunder) shall accrue a commission of 3.0% in lieu of the aforementioned 6.0% commission. There were no leasing commission fees incurred during the years ended December 31, 2018 and 2017. Other Operating Expense Reimbursement Under the Company's charter, total operating expenses of the Company are limited to the greater of 2% of average invested assets or 25% of net income for the four most recently completed fiscal quarters (the "2%/25% Limitation"). If the Company exceeds the 2%/25% Limitation, the Advisor must reimburse the Company the amount by which the aggregate total operating expenses exceeds the limitation, or the Company must obtain a waiver from the Company's conflicts committee. For purposes of determining the 2%/25% Limitation amount, “average invested assets” means the average monthly book value of the Company’s assets invested directly or indirectly in equity interests and loans secured by real estate during the 12-month period before deducting depreciation, reserves for bad debts or other non-cash reserves. “Total operating expenses” means all expenses paid or incurred by the Company, as determined by GAAP, that are in any way related to the Company’s operation including asset management fees, but excluding (a) the expenses of raising capital such as organization and offering expenses, legal, audit, accounting, underwriting, brokerage, listing, registration and other fees, printing and other such expenses and taxes incurred in connection with the issuance, distribution, transfer, listing and registration of shares of the Company’s common stock; (b) interest payments; (c) taxes; (d) non-cash expenditures such as depreciation, amortization and bad debt reserves; (e) reasonable incentive fees based upon increases in NAV per share; (f) acquisition fees and acquisition expenses (including expenses, relating to potential investments that the Company does not close); and (h) disposition fees on the sale of real property and other expenses connected with the acquisition, disposition and ownership of real estate interests or other property (other than disposition fees on the sale of assets other than real property), including the costs of insurance premiums, legal services, maintenance, repair and improvement of real property. The Company is in compliance with the 2/25% Limitation for operating expenses for the four fiscal quarters ended December 31, 2018. Operating expense reimbursements for the four fiscal quarters ended December 31, 2017 exceeded the 2%/25% Limitation. The conflicts committee approved the operating expenses above the 2%/25% Limitation, as they determined that the relationship of the Company’s operating expenses to average invested assets were justified for the year ended December 31, 2017 given the costs of operating a public company and the early stage of operations. Related Party Transactions with Unconsolidated Entities The Company’s portion of Advisor fees paid relating to the Santa Clara property for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Acquisition fees $ — $ 626,073 Asset management fees 191,907 49,035 Total $ 191,907 $ 675,108 The acquisition fees were paid pursuant to the Advisory Agreement and were capitalized as a component of the Company’s investment in the TIC. The Company’s portion of Advisor fees paid relating to REIT I for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Expensed: Asset management fees $ 38,903 $ 33,376 Other 32,274 20,972 Capitalized: Acquisition fees — 29,536 Financing coordination fees — 4,407 Total $ 71,177 $ 88,291

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9. COMMITMENTS AND CONTINGENCIES Economic Dependency The Company depends on its Sponsor and its Advisor for certain services that are essential to the Company, including the sale of the Company’s shares of common stock, the identification, evaluation, negotiation, origination, acquisition and disposition of investments; management of the daily operations of the Company’s investment portfolio; and other general and administrative responsibilities. In the event that these companies are unable to provide the respective services, the Company will be required to obtain such services from other sources. The Company generally does not require collateral or other security from tenants, other than security deposits or letters of credit. However, since concentration of rental revenue from certain tenants exists, the inability of those tenants to make their payments could have an adverse effect on the Company. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the property could result in future environmental liabilities. Tenant Improvements Pursuant to lease agreements, as of June 30, 2019 and December 31, 2018, the Company had obligations to pay for $401,392 and $3,789,091, respectively, in site and tenant improvements to be incurred by tenants, including a 72.7% share of the tenant improvements for the Santa Clara property. During the second quarter of 2019, $3,387,699 of the restricted cash balance as of December 31, 2018 was released to a tenant to reimburse it for tenant improvement costs under the terms of the lease agreement. At June 30, 2019 and December 31, 2018, the Company had $99,228 and $3,486,927 of restricted cash held to fund tenant improvements. Redemption of Common Stock The maximum amount that may be repurchased per month is limited to no more than 2% of the Company’s most recently determined aggregate NAV. Repurchases for any calendar quarter will be limited to no more than 5% of its most recently determined aggregate NAV. The foregoing repurchase limitations are based on "net repurchases" during a quarter or month, as applicable. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1) 5% or 2% (as applicable) of the Company’s most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the Registered Offering and Class S Offering (including purchases pursuant to its Registered DRP Offering) since the beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month. The Company has the discretion to repurchase fewer shares than have been requested to be repurchased in a particular month or quarter, or to repurchase no shares at all, in the event that it lacks readily available funds to do so due to market conditions beyond the Company’s control, its need to maintain liquidity for its operations or because the Company determines that investing in real property or other illiquid investments is a better use of its capital than repurchasing its shares. In the event that the Company repurchases some but not all of the shares submitted for repurchase in a given period, shares submitted for repurchase during such period will be repurchased on a pro-rata basis. In addition, the Company’s board of directors may amend, suspend or terminate the share repurchase program without stockholder approval upon 30 days’ notice if its directors believe such action is in the Company and its stockholders’ best interests. The Company’s board of directors may also amend, suspend or terminate the share repurchase program due to changes in law or regulation, or if the board of directors becomes aware of undisclosed material information that the Company believes should be publicly disclosed before shares are repurchased. In order to protect the interests of long-term investors, on August 7, 2019, the board of directors amended the share repurchase program for the Class C common stock to require that shares be held for 90 days after they have been issued to the applicable stockholder before the Company will accept requests for repurchase. This policy is being implemented to: • avoid disruption to cash management and real estate investment activity; • reduce the cost burden incurred from short-term share repurchase requests; and • protect the Company, its stockholders and corresponding financial institutions from fraudulent cyber activities. In accordance with the terms of the share repurchase program, this amendment will become effective 30 days after this Form 10-Q and a related supplement to the prospectus for the Registered Offering are filed with the SEC. Legal and Regulatory Matters From time-to-time, the Company may become party to legal proceedings that arise in the ordinary course of its business. Other than as described below, the Company is not a party to any legal proceeding, nor is the Company aware of any pending or threatened litigation that could have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. The SEC is conducting an investigation related to, among other things, the advertising and sale of securities in connection with the Registered Offering and compliance with broker-dealer regulations. The investigation is a non-public fact-finding inquiry. At this stage of the investigation, the SEC has not made an allegation of wrongdoing nor a finding that violations of law have occurred. In connection with the investigation, the Company and certain associates have received and responded to subpoenas from the SEC, including requests for various documents related to the Company, the Sponsor, and the Registered Offering. The SEC’s investigation is ongoing. The Company has cooperated and intends to continue to cooperate with the SEC in this matter. The Company is presently in discussion with the SEC about potential outcomes resulting from the investigation. The Company is unable to predict whether the SEC will commence any legal actions or launch additional investigations, inquiries or other actions related thereto.	NOTE 9. COMMITMENTS AND CONTINGENCIES Economic Dependency The Company depends on the Sponsor and the Advisor for certain services that are essential to the Company, including the sale of the Company’s shares of common stock, the identification, evaluation, negotiation, origination, acquisition and disposition of investments; management of the daily operations of the Company’s investment portfolio; and other general and administrative responsibilities. In the event that these companies are unable to provide the respective services, the Company will be required to obtain such services from other sources. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. Tenant Improvements Pursuant to lease agreements, as of December 31, 2018 and 2017, the Company has obligations to pay for $3,789,091 and $1,899,485, respectively, in site and tenant improvements to be incurred by tenants, including a 72.7% share of the tenant improvements for the Santa Clara property as of December 31, 2017. As of December 31, 2018 and 2017, the Company had $3,486,927 and $944,582, respectively, of restricted cash held to fund the improvements. Redemption of Common Stock The maximum amount that may be repurchased per month is limited to no more than 2% of the Company’s most recently determined aggregate NAV. Repurchases for any calendar quarter will be limited to no more than 5% of its most recently determined aggregate NAV. The foregoing repurchase limitations are based on “net repurchases” during a quarter or month, as applicable. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1) 5% or 2% (as applicable) of the Company’s most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the Registered Offering and Class S Offering (including purchases pursuant to its Registered DRP Offering) since the beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month. The Company has the discretion to repurchase fewer shares than have been requested to be repurchased in a particular month or quarter, or to repurchase no shares at all, in the event that it lacks readily available funds to do so due to market conditions beyond the Company’s control, its need to main liquidity for its operations or because the Company determines that investing in real property or other illiquid investments is a better use of its capital than repurchasing its shares. In the event that the Company repurchases some but not all of the shares submitted for repurchase in a given period, shares submitted for repurchase during such period will be repurchased on a pro-rata basis. In addition, the Company’s board of directors may amend, suspend or terminate the share repurchase program without stockholder approval upon 30 days’ notice if its directors believe such action is in the Company and its stockholders’ best interests. The Company’s board of directors may also amend, suspend or terminate the share repurchase program due to changes in law or regulation, or if the board of directors becomes aware of undisclosed material information that the Company believes should be publicly disclosed before shares are repurchased. Legal Matters From time-to-time, the Company may become party to legal proceedings that arise in the ordinary course of its business. Other than as described below, the Company is not a party to any legal proceeding, nor is the Company aware of any pending or threatened litigation that could have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. The SEC is conducting an investigation related to the advertising and sale of securities by the Company in connection with the Registered Offering. The investigation is a non-public fact-finding inquiry. It is neither an allegation of wrongdoing nor a finding that violations of law have occurred. In connection with the investigation, the Company and certain affiliates have received and responded to subpoenas from the SEC requesting documents and other information related to the Company and the Registered Offering. The SEC’s investigation is ongoing. The Company has cooperated and intends to continue to cooperate with the SEC in this matter. The Company is unable to predict the likely outcome of the investigation or determine its potential impact, if any, on the Company. The Company generally does not require collateral or other security from tenants, other than security deposits or letters of credit. However, since concentration of rental revenue from certain tenants exists, the inability of those tenants to make their payments could have an adverse effect on the Company.

SUBSEQUENT EVENTS (Q2)

SUBSEQUENT EVENTS (Q2)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued. Offering Status Through July 31, 2019, the Company had sold 17,264,957 shares of Class C common stock in the Offering, for aggregate gross offering proceeds of $173,569,307, which included 1,328,904 shares of Class C common stock sold under its distribution reinvestment plan, for gross proceeds of $13,386,283. As of July 31, 2019, the Company has sold 166,712 shares of Class S common stock in the Offering, for aggregate gross offering proceeds of $1,691,705, which included 1,417 shares of Class S common stock sold under its dividend reinvestment plan for gross proceeds of $14,377. Distributions On June 25, 2019, the Company’s board of directors declared distributions based on daily record dates for the period July 1 through July 31, 2019 at the rate of $0.00189113 per share per day on the outstanding shares of its common stock, which the Company will pay on August 26, 2019. On July 31, 2019, the Company’s board of directors declared distributions based on daily record dates for the period August 1 through August 31, 2019 at the rate of $0.00189113 per share per day on the outstanding shares of its common stock, which the Company will pay on September 25, 2019. Redeemable Common Stock Subsequent to June 30, 2019, the Company redeemed 82,525 shares of Class C common stock for $822,829 in July 2019 and 178,005 shares of Class C common stock for $1,769,216 in August 2019. Advisory Agreement On August 9, 2019, the Advisory Agreement was amended to delete the subordinated participation fee from the agreement. On August 9, 2019, the board of directors of the Company, including all of the independent directors, also approved renewing the Advisory Agreement, which was scheduled to expire on August 11, 2019 to December 31, 2019.	NOTE 10. SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements were issued in the Company’s Form 10-K on March 29, 2019. Offering Status As of February 28, 2019, the Company had sold 14,976,828 shares of Class C common stock in the Offering, for aggregate gross offering proceeds of $150,121,913, which included 1,017,841 shares of Class C common stock sold under its distribution reinvestment plan, for gross proceeds of $10,225,876. As of February 28, 2019, the Company had sold 113,312 shares of Class S common stock in the Offering, for aggregate gross offering proceeds of $1,149,162, which included 318 shares of Class S common stock sold under its distribution reinvestment plan for gross proceeds of $3,210. Distributions On November 28, 2018, the Company’s board of directors declared distributions based on daily record dates for the period December 1, 2018 through December 31, 2018 at a rate of $0.00188113 per share per day, or $748,674, on the outstanding shares of the Company’s common stock, which the Company paid on January 25, 2019. Of the December 2018 distribution, $571,882 was reinvested through the Company’s DRP. On December 26, 2018, the Company’s board of directors declared distributions based on daily record dates for the period January 1, 2019 through January 31, 2019 at rate of $0.00189113 per share per day, or $771,806, on the outstanding shares of the Company's common stock, which the Company paid on February 25, 2019. Of the January 2019 distribution, $587,707 was reinvested through the Company’s DRP. On January 31, 2019, the Company’s board of directors declared distributions based on daily record dates for the period February 1, 2019 through February 28, 2019 at rate of $0.00209375 per share per day, or $795,959, on the outstanding shares of the Company's common stock, which the Company paid on March 25, 2019. Of the February 2019 distribution, $605,275 was reinvested through the Company’s DRP. On February 28, 2019, the Company’s board of directors declared distributions based on daily record dates for the periods March 1, 2019 through March 31, 2019, April 1 through April 30, 2019, May 1 through May 31, 2019 and June 1 through June 30, 2019 at rate of $0.00192740 per share per day on the outstanding shares of its common stock, which the Company will pay on April 25, 2019, May 28, 2019, June 25, 2019 and July 25, 2019, respectively. Redeemable Common Stock Subsequent to December 31, 2018, the Company redeemed shares of Class C common stock as follows: 59,431 shares in January 2019 for $599,916; 124,258 shares in February 2019 for $1,236,669; and 41,100 shares in March 2019 for $408,661. Debt Financing On March 7, 2019, the Company refinanced a mortgage note payable which was due as of March 17, 2019 with a new note for $6,350,000 through a nonaffiliated lender. The note is secured by the 24 Hour Fitness property. The new mortgage note has a fixed interest rate of 4.64% for the first 11 years and matures on March 7, 2049. The financing coordination fee due to the Advisor or its affiliate for this financing amounted to $63,500. On March 12, 2019, the Company repaid its $4,842,500 mortgage loan on the Texas Health Resources property with borrowings under its unsecured line of credit. Credit Facility Extensions Effective January 15, 2019 and March 26, 2019, the Company entered into agreements with the Lender to extend the maturity date of the Unsecured Credit Facility to March 26, 2019 and April 30, 2019, respectively. REIT I On January 14, 2019, REIT I announced that it had retained a real estate financial advisor to assist it in evaluating strategic alternatives, which includes marketing its entire real estate properties portfolio for disposition by sale, merger or other transaction structure. In connection with REIT I’s announcement, on March 19, 2019 the Company announced that it intends to explore a potential acquisition of REIT I or REIT I’s portfolio of properties (the “REIT I Portfolio”) and that its board of directors has formed a special committee of the board of directors (the “special committee”), consisting solely of independent directors, that will evaluate the potential for a transaction with REIT I. The members of the special committee, comprising four of the Company’s six directors, have no affiliation with REIT I or the Sponsor. The special committee has hired UBS Investment Bank as its financial advisor and Morris, Manning and Martin, LLP as its legal advisor to assist the special committee as it conducts a review of a potential acquisition of REIT I or the REIT I Portfolio. The special committee has not set a definitive timetable for completion of its evaluation, and there can be no assurances that the review process will result in any transaction. The Company does not intend to provide any updates pertaining to its exploration of a potential acquisition of REIT I and shareholders should not expect any announcement from the Company until such time that an outcome has been reached with respect to any potential offer for REIT I or the REIT I Portfolio, except as required under applicable laws.

Schedule III-Real Estate Assets

Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization Schedule Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization (Notes) (FY)	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization	RW HOLDINGS NNN REIT, INC. Schedule III Real Estate Assets and Accumulated Depreciation and Amortization December 31, 2018 Initial Cost to Company Gross Amount at Which Carried at Close of Period Description Location Original Year of Construction Date Acquired Encumbrances Land Buildings & Improvements (1) Total Costs Capitalized Subsequent to Acquisition Land Buildings & Improvements (1) Total Accumulated Depreciation and Amortization Net Accredo Orlando, FL 2006 6/15/2016 $ 4,837,224 $ 1,706,641 $ 9,003,859 $ 10,710,500 $ 198,986 $ 1,706,641 $ 9,202,843 $ 10,909,484 $ (1,265,678 ) $ 9,643,806 Walgreens Stockbridge, GA 2001 6/21/2016 2,159,245 1,033,105 3,820,266 4,853,371 — 1,033,105 3,820,266 4,853,371 (833,561 ) 4,019,810 Dollar General Litchfield, ME 2015 11/4/2016 645,791 293,912 1,104,202 1,398,114 — 293,912 1,104,202 1,398,114 (85,518 ) 1,312,596 Dollar General Wilton, ME 2015 11/4/2016 651,085 212,036 1,472,393 1,684,429 — 212,036 1,472,393 1,684,429 (109,445 ) 1,574,984 Dollar General Thompsontown, PA 2015 11/4/2016 651,085 217,912 1,088,678 1,306,590 — 217,912 1,088,678 1,306,590 (82,167 ) 1,224,423 Dollar General Mt. Gilead, OH 2015 11/4/2016 645,791 283,578 1,002,456 1,286,034 — 283,578 1,002,457 1,286,035 (78,780 ) 1,207,255 Dollar General Lakeside, OH 2015 11/4/2016 645,791 176,515 1,037,214 1,213,729 — 176,515 1,037,214 1,213,729 (80,853 ) 1,132,876 Dollar General Castalia, OH 2015 11/4/2016 645,791 154,676 1,033,817 1,188,493 — 154,676 1,033,818 1,188,494 (78,557 ) 1,109,937 Dana Cedar Park, TX 2013 12/27/2016 4,632,398 1,290,863 8,312,917 9,603,780 — 1,290,863 8,312,917 9,603,780 (1,001,594 ) 8,602,186 Northrop Grumman Melbourne, FL 1986 3/7/2017 5,809,367 1,191,024 12,533,166 13,724,190 — 1,191,024 12,533,166 13,724,190 (1,402,927 ) 12,321,263 exp US Services Maitland, FL 1985 3/27/2017 3,446,493 785,801 5,522,567 6,308,368 — 785,801 5,522,568 6,308,369 (389,042 ) 5,919,327 Harley Bedford, TX 2016 4/13/2017 6,868,255 1,145,196 12,033,092 13,178,288 — 1,145,196 12,033,092 13,178,288 (562,523 ) 12,615,765 Wyndham Summerlin, NV 2001 6/22/2017 5,820,600 4,144,069 5,972,433 10,116,502 959,213 4,144,069 6,931,646 11,075,715 (461,240 ) 10,614,475 Williams-Sonoma Summerlin, NV 1996 6/22/2017 4,615,800 3,546,744 4,028,821 7,575,565 1,054,532 3,546,744 5,083,354 8,630,098 (435,346 ) 8,194,752 Omnicare Richmond, VA 2004 7/20/2017 4,349,963 800,772 6,523,599 7,324,371 219,818 800,772 6,743,417 7,544,189 (343,275 ) 7,200,914 EMCOR Cincinnati, OH 2010 8/29/2017 2,911,577 427,589 5,996,509 6,424,098 — 427,589 5,996,509 6,424,098 (245,453 ) 6,178,645 Husqvarna Charlotte, NC 2010 11/30/2017 6,379,182 974,663 11,879,485 12,854,148 — 974,663 11,879,485 12,854,148 (399,615 ) 12,454,533 AvAir Chandler, AZ 2015 12/28/2017 14,575,000 3,493,673 23,864,226 27,357,899 — 3,493,673 23,864,227 27,357,900 (722,991 ) 26,634,909 3M DeKalb, IL 2007 2018-03-29 8,360,000 758,780 16,360,400 17,119,180 — 758,780 16,360,400 17,119,180 (985,899 ) 16,133,281 Cummins Nashville, TN 2001 2018-04-04 8,530,000 3,347,960 12,654,529 16,002,489 — 3,347,960 12,654,529 16,002,489 (562,814 ) 15,439,675 Northrop Grumman Parcel Melbourne, FL — 2018-06-21 — 329,410 — 329,410 — 329,410 — 329,410 — 329,410 24 Hour Fitness Las Vegas, NV 1995 2018-07-27 8,900,000 3,121,985 9,536,325 12,658,310 — 3,121,985 9,536,325 12,658,310 (204,887 ) 12,453,423 Texas Health Dallas, TX 1978 2018-09-13 4,842,500 1,827,914 5,862,010 7,689,924 — 1,827,914 5,862,010 7,689,924 (86,716 ) 7,603,208 Bon Secours Richmond, VA 2001 2018-10-31 5,250,000 1,658,659 9,184,248 10,842,907 — 1,658,659 9,184,248 10,842,907 (90,731 ) 10,752,176 Costco Issaquah, WA 1987 2018-12-20 18,850,000 8,202,915 21,825,853 30,028,768 — 8,202,915 21,825,853 30,028,768 (54,052 ) 29,974,716 $ 125,022,937 $ 41,126,391 $ 191,653,068 $ 232,779,459 $ 2,432,550 $ 41,126,391 $ 194,085,618 $ 235,212,009 $ (10,563,664 ) $ 224,648,345 Notes: • The aggregate cost of real estate for federal income tax purposes was approximately $232,900,000 (unaudited) as of December 31, 2018. • Real estate investments (excluding land) are depreciated over their estimated useful lives. Their useful lives are generally 29-48 years for buildings, the shorter of 15 years or remaining lease term for site/building improvements, the shorter of 15 years or remaining contractual lease term for tenant improvements and the remaining lease term with consideration as to above- and below-market extension options for above- and below-market lease intangibles for tenant origination and absorption costs. • The real estate assets are 100% owned by the Company. The following table summarizes the Company’s real estate assets and accumulated depreciation and amortization as of December 31, 2018 and 2017: RW Holdings NNN REIT, INC. Schedule III Real Estate Assets and Accumulated Depreciation and Amortization December 31, 2018 and 2017 2018 2017 Real estate investments: Balance at beginning of year $ 138,810,355 $ 33,245,041 Acquisitions 94,670,988 $ 104,880,154 Improvements to real estate 1,730,666 685,160 Balance at end of year $ 235,212,009 $ 138,810,355 Accumulated depreciation and amortization: Balance at beginning of year $ (3,574,739 ) $ (493,185 ) Depreciation and amortization (6,988,925 ) (3,081,554 ) Balance at end of year $ (10,563,664 ) $ (3,574,739 )

SUMMARY OF SIGNIFICANT ACOUNT_2

SUMMARY OF SIGNIFICANT ACOUNTING POLICIES (FY) (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial statements and the rules and regulations of the SEC. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. Such unaudited condensed consolidated financial statements and accompanying notes are the representations of the Company’s management, which is responsible for their integrity and objectivity. These unaudited condensed consolidated financial statements should be read in conjunction with the December 31, 2018 audited consolidated financial statements included in the Company’s Form 10-K filed with the SEC on March 29, 2019. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which are normal and recurring, necessary to fairly state its financial position, results of operations and cash flows. All significant intercompany balances and transactions are eliminated in consolidation. The December 31, 2018 balance sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements.	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation. The consolidated financial statements and accompanying notes are the representations of the Company’s management, who is responsible for their integrity and objectivity. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.
Revenue Recognition		Revenue Recognition Effective January 1, 2018, the Company adopted Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”), using the modified retrospective approach, which requires a cumulative effect adjustment as of the date of the Company’s adoption. The adoption of ASU No. 2014-09 did not result in a cumulative effect adjustment as of January 1, 2018, the date of the Company's adoption. Based on the Company’s evaluation of contracts within the scope of ASU No. 2014-09, revenue that is impacted by ASU No. 2014-09 includes revenue generated by sales of real estate, other operating income and tenant reimbursements for substantial services earned at the Company’s properties. Such revenue is recognized when the services are provided and the performance obligations are satisfied. The Company’s adoption of ASU No. 2014-09 did not have a significant impact on its consolidated financial statements. The Company recognizes rental income from tenants under operating leases on a straight-line basis over the noncancelable term of the lease when collectability of such amounts is reasonably assured. Recognition of rental income on a straight-line basis includes the effects of rental abatements, lease incentives and fixed and determinable increases in lease payments over the lease term. If the lease provides for tenant improvements, management of the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or by the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. Tenant reimbursements of real estate taxes, insurance, repairs and maintenance, and other operating expenses are recognized as revenue in the period the expenses are incurred and presented gross if the Company is the primary obligor and, with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier and bears the associated credit risk. In instances where the operating lease agreement has an early termination option, the termination penalty is based on a predetermined termination fee or based on the unamortized tenant improvements and leasing commissions. The Company evaluates the collectability of rents and other receivables on a regular basis based on factors including, among others, payment history, credit rating, the asset type, and current economic conditions. If the Company’s evaluation of these factors indicates it may not recover the full value of the receivable, it provides an allowance against the portion of the receivable that it estimates may not be recovered. This analysis requires the Company to determine whether there are factors indicating a receivable may not be fully collectible and to estimate the amount of the receivable that may not be collected. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt allowance for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments.
Fair Value Measurements and Disclosures		Fair Value Measurements and Disclosures Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: Level 1: quoted prices in active markets for identical assets or liabilities; Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value for certain financial instruments is derived using a combination of market quotes, pricing models, and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of financial instrument for which it is practicable to estimate the fair value: Cash and cash equivalents; restricted cash; tenant receivables; purchase and other deposits; prepaid expenses and other assets; accounts payable, accrued and other liabilities; and due to affiliates: These balances approximate their fair values due to the short maturities of these items. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The proprietary model uses the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps are estimated using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit risks to the contracts, are incorporated in the fair values to account for potential nonperformance risk. Unsecured credit facility : The fair value of the Company’s unsecured credit facility approximates its carrying value as the interest rates are variable and the balances approximate their fair values due to the short maturities of this facility. Mortgage notes payable: The fair value of the Company’s mortgage notes payable is estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. The Company classifies these inputs as Level 3 inputs.
Cash and Cash Equivalents		Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance may exceed federally insurable limits. The Company mitigates this risk by depositing funds with major financial institutions; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets.
Restricted Cash	Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements. Restricted cash as of June 30, 2019 and December 31, 2018 amounted to $156,046 and $3,503,242, respectively. Pursuant to lease agreements, the Company had obligations to pay for $156,046 and $3,535,163 in site and tenant improvements to be incurred by tenants as of June 30, 2019 and December 31, 2018, respectively, including a 72.7% share of tenant improvements for the Santa Clara property at both balance sheet dates. At June 30, 2019 and December 31, 2018, the Company's restricted cash held to fund the improvements totaled $99,228 and $3,486,927, respectively. As of June 30, 2019 and December 31, 2018, the Company also held restricted cash to fund an impounded property tax. During the second quarter of 2019, $3,387,699 of restricted cash was released to a tenant to reimburse it for tenant improvement costs under the terms of its lease agreement.	Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements or property taxes. Restricted cash as of December 31, 2018 and 2017 amounted to $3,503,242 and $944,582, respectively. Pursuant to lease agreements, the Company has obligations to pay for $3,535,163 and $1,899,485 in site and tenant improvements to be incurred by tenants as of December 31, 2018 and 2017, respectively, including a 72.7% share of the tenant improvements for the Santa Clara property. At December 31, 2018 and 2017, the Company’s restricted cash held to fund these improvements totaled $3,486,927 and $944,582, respectively. As of December 31, 2018, the Company also held restricted cash of $16,315 to fund an impounded property tax.
Real Estate Investments		Real Estate Investments Real Estate Acquisition Valuation The Company records acquisitions that meet the definition of a business as a business combination. If the acquisition does not meet the definition of a business, the Company records the acquisition as an asset acquisition. Under both methods, all assets acquired and liabilities assumed are measured based on their acquisition-date fair values. All acquisitions during 2018 and 2017 were treated as asset acquisitions. Transaction costs that are related to a business combination are charged to expense as incurred. Transaction costs that are related to an asset acquisition are capitalized as incurred. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles, and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining noncancelable term of above-market in-place leases plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining noncancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease-up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease up periods. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining term of the respective lease. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. Therefore, the Company classifies these inputs as Level 3 inputs. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income (loss).
Depreciation and Amortization		Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and depreciated or amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset and are expensed as incurred. Significant replacements and betterments are capitalized. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: • Buildings 29-48 years • Site improvements Shorter of 15 years or remaining lease term • Tenant improvements Shorter of 15 years or remaining lease term • Tenant origination and absorption costs, and above-/below-market lease intangibles Remaining lease term
Impairment of Real Estate and Related Intangible Assets		Impairment of Real Estate and Related Intangible Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of real estate and related intangible assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of real estate and related intangible assets may not be recoverable, management assesses whether the carrying value of the assets will be recovered through the future undiscounted operating cash flows expected from the use of and eventual disposition of the property. If, based on the analysis, the Company does not believe that it will be able to recover the carrying value of the asset, the Company will record an impairment charge to the extent the carrying value exceeds the estimated fair value of the asset. For the years ended December 31, 2018 and 2017, the Company did not record any impairment charges related to its real estate investments.
Unconsolidated Investments		Unconsolidated Investments The Company accounts for investments in entities over which the Company has the ability to exercise significant influence under the equity method of accounting. Under the equity method of accounting, an investment is initially recognized at cost and is subsequently adjusted to reflect the Company’s share of earnings or losses of the investee. The investment is also increased for additional amounts invested and decreased for any distributions received from the investee. Equity method investments are reviewed for impairment whenever events or circumstances indicate that the carrying amount of the investment might not be recoverable. If an equity method investment is determined to be other-than-temporarily impaired, the investment is reduced to fair value and an impairment charge is recorded as a reduction to earnings.
Derivative Instruments		Derivative Instruments The Company enters into derivative instruments for risk management purposes to hedge its exposure to cash flow variability caused by changing interest rates on its variable rate mortgage notes payable. The Company does not enter into derivatives for speculative purposes. The Company records these derivative instruments at fair value on the accompanying consolidated balance sheet. The Company’s mortgage derivative instruments do not meet the hedge accounting criteria and therefore the changes in the fair value are recorded as gains or losses on derivative instruments in the accompanying statement of operations. The gain or loss is included in interest expense. The Company enters into interest rate swaps as a fixed rate payer to mitigate its exposure to rising interest rates on its variable rate notes payable. The value of interest rate swaps is primarily impacted by interest rates, market expectations about interest rates, and the remaining life of the instrument. In general, increases in interest rates, or anticipated increases in interest rates, will increase the value of the fixed rate payer position and decrease the value of the variable rate payer position. As the remaining life of the interest rate swap decreases, the value of both positions will generally move towards zero.
Distributions	Distributions The Company’s board of directors may declare distributions in advance of the periods to which they relate. Because such distributions relate to operations and cash available for distributions to be produced in future periods, these distributions will not be included in distributions that are recorded in the current period being reported. The following are the Company’s updated significant accounting policies that have been affected by the adoption of Topic 842 as discussed below in New Accounting Standards Issued and Adopted:	Distributions The Company intends, although is not legally obligated, to continue to make regular monthly distributions to holders of its shares at least at the level required to maintain REIT status unless the results of operations, general financial condition, general economic conditions or other factors inhibits the Company from doing so. Distributions are authorized at the discretion of the Company’s board of directors, which is directed, in substantial part, by its obligation to cause the Company to comply with the REIT requirements of the Internal Revenue Code. To the extent declared by the board of directors, distributions are payable on the 25th day of the following month declared. Should the 25th day fall on a weekend, distributions are payable on the first business day thereafter. Prior to January 19, 2018, to the extent distributions were declared by the board of directors, they were payable on the 10th day of the following month declared or on the first business day thereafter. The following presents the federal income tax characterization of the distributions paid: Years Ended December 31 2018 2017 Ordinary income $ 0.0352 $ 0.1110 Non-taxable distribution 0.6683 0.5890 Total $ 0.7035 $ 0.7000 Distribution Reinvestment Plan The Company has adopted the DRP through which common stockholders may elect to reinvest any amount up to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. Participants in the DRP acquire common stock at a price per share equal to the price to acquire a share of common stock in the Offering. The initial price of the Registered DRP Offering was $10.00 per share used through January 18, 2018.This price is expected to adjust during the course of the Registered DRP Offering on an annual basis to equal the NAV per share. Effective January 19, 2018, the Registered DRP Offering price was revised based on the estimated NAV to $10.05 per share and effective January 14, 2019, the Registered DRP Offering price was revised based on the estimated NAV to $10.16 (unaudited).
Related Party Transactions		Related Party Transactions The Company records all related party fees as incurred, subject to certain limitations described in the Company’s Advisory Agreement (see Note 8).
Redeemable Common Stock		Redeemable Common Stock The Company has adopted a share repurchase program that enables stockholders to sell their stock to the Company in limited circumstances. Stockholders who wish to avail themselves of the share repurchase program must notify the Company by three business days before the end of the month for their shares to be repurchased by the third business day of the following month. The share repurchase program provides that share repurchases may be funded by (a) distribution reinvestment proceeds, (b) the prior or future sale of shares, (c) indebtedness, including a line of credit and traditional mortgage financing, and (d) asset sales. The Company records amounts that are redeemable under the share repurchase program as redeemable common stock in its consolidated balance sheets because the shares are redeemable at the option of the holder and therefore their redemption is outside the control of the Company. When the Company determines it has a mandatory obligation to repurchase shares under the share repurchase program, it reclassifies such obligations from temporary equity to a liability based upon their respective settlement values. Through December 31, 2018, 1,147,573 shares had been tendered for redemption by the Company, which represented all redemption requests received in good order and eligible for redemption through December 31, 2018. All of these shares had been redeemed except for the 59,431 of shares in connection with the repurchase requests that were made in December 2018 and were repurchased on January 4, 2019. These shares were repurchased with the proceeds from reinvested dividends based on the NAV price of $10.05 per share according to the schedule of discounts below. In accordance with the Company’s share repurchase program for its Class C common stock, the per share repurchase price depends on the length of time the redeeming stockholder has held such shares as follows: (i.) less than one year from the purchase date, 97% of the most recently published NAV per share; (ii.) after at least one year but less than two years from the purchase date, 98% of the most recently published NAV per share; (iii.) after at least two years but less than three years from the purchase date, 99% of the most recently published NAV per share; and (iv.) after three years from the purchase date, 100% of the most recently published NAV per share. The Company’s most recently published NAV per share effective as of January 14, 2019 is $10.16 (unaudited). Prior to January 14, 2019, repurchases under the share repurchase program of the Company’s Class C common stock were made based on the original Primary Offering price of $10.00 through January 18, 2018 and then based on the estimated NAV of $10.05 per share effective January 19, 2018 through January 13, 2019, subject to the same discounts for the length of time such shares were held as described above. In accordance with the Company’s share repurchase program for its Class S common stock, shares of Class S common stock are not eligible for repurchase unless they have been held for at least one year. After this holding period has been met, Class S shares can be redeemed at the most recently published NAV, which is currently $10.16 per share (unaudited).
Limitations on Repurchase		Limitations on Repurchase The Company may, but is not required to, use available cash not otherwise dedicated to a particular use to pay the repurchase price, including cash proceeds generated from the dividend reinvestment plan, securities offerings, operating cash flow not intended for distributions, borrowings and capital transactions, such as asset sales or loan refinancings. The Company cannot guarantee that it will have sufficient available cash to accommodate all repurchase requests made in any given month. In addition, the Company may not repurchase shares in an amount that would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. Additional limitations on share repurchases under the share repurchase program are as follows: The Company is subject to the following limitations on the number of shares it may repurchase under the program: • Repurchases per month will be limited to no more than 2% of the Company’s most recently determined aggregate NAV. The Company generally anticipates that the NAV per share will be determined in the first quarter of each year, calculated as of the immediately preceding December 31. In the event the Merger is not completed until after December 31, 2019, however, our board of directors may, in its discretion, determine to calculate the NAV per share as of the closing of the Merger and the Self-Management Transactions in order to facilitate the most efficient and orderly process for the NAV per share determination that takes into account these transactions. Repurchases for any calendar quarter will be limited to no more than 5% of the Company’s most recently determined aggregate NAV, which means the Company will be permitted to repurchase shares with a value of up to an aggregate limit of approximately 20% of its aggregate NAV in any 12-month period. • The Company currently intends that the foregoing repurchase limitations will be based on “net repurchases” during a quarter or month, as applicable. The term “net repurchases” means the excess of the Company’s share repurchases (capital outflows) over the proceeds from the sale of its shares (capital inflows) for a given period. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1) 5% or 2% (as applicable) of the Company’s most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the offering (including purchases pursuant to its dividend reinvestment plan) since the beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month. • While the Company currently intends to calculate the foregoing repurchase limitations on a net basis, the Company’s board of directors may choose whether the 5% quarterly limit will be applied to “gross repurchases,” meaning that amounts paid to repurchase shares would not be netted against capital inflows. If repurchases for a given quarter are measured on a gross basis rather than on a net basis, the 5% quarterly limit could limit the number of shares redeemed in a given quarter despite us receiving a net capital inflow for that quarter. • In order for the Company’s board of directors to change the basis of repurchases from net to gross, or vice versa, the Company will provide notice to its stockholders in a prospectus supplement to the prospectus for the Registered Offering or current or periodic report filed with the SEC, as well as in a press release or on its website, at least 10 days before the first business day of the quarter for which the new test will apply. The determination to measure repurchases on a gross basis, or vice versa, will only be made for an entire quarter, and not particular months within a quarter.
Advertising Costs		Advertising Costs Offering advertising costs charged to expense were $0 and $0 for the years ended December 31, 2018 and 2017, respectively, and are included in general and administrative expenses in the accompanying statements of operations. Advertising costs relating to the offering are paid by the Advisor. These amounts are reimbursed to the Advisor as organization and offering costs that they incurred on the Company’s behalf, see Note 8.
Income Taxes		Income Taxes The Company elected to be taxed as a REIT for U.S. federal income tax purposes under Section 856 through 860 of the Internal Revenue Code of 1986, as amended, beginning with its taxable year ended December 31, 2016. The Company expects to operate in a manner that will allow us to continue to qualify as a REIT for Federal income tax purposes. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including meeting various tests regarding the nature of our assets and our income, the ownership of our outstanding stock and distribution of at least 90% of the Company’s annual REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. The Company has concluded that there are no significant uncertain tax positions requiring recognition in its consolidated financial statements. Neither the Company nor its subsidiaries has been assessed interest or penalties by any major tax jurisdictions. The Company’s evaluations were performed for the tax years ended December 31, 2018 and 2017. As of December 31, 2018, the returns for calendar years 2015, 2016 and 2017 remain subject to examination by major tax jurisdictions.
Per Share Data	Per Share Data Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted loss per share of common stock equals basic loss per share of common stock as there were no potentially dilutive securities outstanding during the three and six months ended June 30, 2019 and 2018. For the three and six months ended June 30, 2019 and 2018, the Company has presented net loss per share amounts on the accompanying condensed consolidated statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for allocating income (loss) in accordance with the provisions of Accounting Standards Codification ("ASC") 260, Earnings per Share The differences in net loss per share if allocated under this method primarily reflect the lower effective dividends per share for Class S shareholders as a result of the payment of the deferred commission to the Class S distributor of these shares, and also reflect the impact of the timing of the declaration of the dividends relative to the time the shares were outstanding.	Per Share Data Basic earnings per share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock equals basic earnings per share of common stock as there were no potentially dilutive securities outstanding for the years ended December 31, 2018 and 2017. We have presented net loss per share amounts on the accompanying statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for the allocating net loss in accordance with the provisions of ASC 260, Earnings per Share Distributions declared per share of Class C common stock were $0.7035 and $0.7000 for the years ended December 31, 2018 and 2017, respectively. Distributions declared per share of Class S common stock were $0.7035 for the year ended December 31, 2018 and $0.1750 for the three month period ended December 31, 2017, which was the first period in which distributions were declared. The distribution paid per share of Class S common stock is net of the deferred selling commission.
Segments		Segments The Company has invested in single-tenant income-producing properties. The Company’s real estate properties exhibit similar long-term financial performance and have similar economic characteristics to each other and are managed as one unit by a common management team. As of December 31, 2018 and 2017, the Company aggregated its investments in real estate into one reportable segment.
Square Footage, Occupancy and Other Measures		Square Footage, Occupancy and Other Measures Square footage, occupancy and other measures used to describe real estate investments included in the notes to consolidated financial statements are presented on an unaudited basis.
Reclassifications	Reclassifications Certain prior period revenue account balances in the statement of operations have been reclassified to conform with the current year presentation. The reclassifications had no impact on net loss.	Reclassifications Certain reclassifications have been made to the 2017 consolidated financial statements to conform with the 2018 consolidated financial statements presentation. The reclassifications had no impact on the Company's prior year results of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements New Accounting Standards Issued and Adopted Effective January 1, 2019, the Company adopted Financial Accounting Standards Board ("FASB") ASU No. 2016-02 "Leases (Topic 842)" Lessor Accounting As a lessor, the Company’s leases with tenants generally provide for the lease of real estate properties, as well as common area maintenance, property taxes and other recoverable costs. Under Topic 842, the lease of space is considered a lease component while the common area maintenance, property taxes and other recoverable costs billings are considered nonlease components, which fall under revenue recognition guidance in Topic 606. However, upon adopting the guidance in Topic 842, the Company determined that its tenant leases met the criteria to apply the practical expedient provided by ASU 2018-11 to recognize the lease and non-lease components together as one single component. This conclusion was based on the consideration that 1) the timing and pattern of transfer of the nonlease components and associated lease component are the same, and 2) the lease component, if accounted for separately, would be classified as an operating lease. As the lease of properties is the predominant component of the Company’s leasing arrangements, the Company accounted for all lease and nonlease components as one-single component under Topic 842. As a result, the adoption of Topic 842 did not have any impact on the Company’s timing or pattern of recognition of rental revenues as compared to previous guidance. To reflect recognition as one lease component, rental income and tenant reimbursements and other lease related property income that meet the requirements of the practical expedient provided by ASU 2018-11 have been combined under rental income subsequent to the adoption of Topic 842 for the three and six months ended June 30, 2019 in the Company’s consolidated statements of operations. The Company also made a conforming reclassification for the prior year’s tenant reimbursements. For the three month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $1,098,603 and $732,934, respectively, and for the six month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $2,186,463 and $1,261,519, respectively. Prior to the adoption of Topic 842, lessor costs for certain services directly reimbursed by tenants have already been presented by the Company on a gross basis in revenues and expenses. Leasing Costs Upon adoption of Topic 842, the Company elected to apply the package of practical expedients provided and did not reassess the following as of January 1, 2019: 1) whether any expired or existing contracts are leases or contain leases; 2) the lease classification for any expired or existing leases; and 3) initial direct costs for any existing leases. Under Topic 842, initial direct costs for both lessees and lessors would include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. As a result, beginning January 1, 2019, the Company will no longer capitalize internal leasing costs and third-party legal leasing costs and will instead expense these costs as incurred. These expenses will be included in legal leasing costs under general and administrative expenses in our consolidated statements of operations. During the three months ended March 31, 2019, the Company did not incur any indirect leasing costs which would have been capitalized prior to the adoption of Topic 842. The election of the package of practical expedients described above permits us to continue to account for our leases that commenced before January 1, 2019 under the previously existing lease accounting guidance for the remainder of their lease terms, and to apply the new lease accounting guidance to leases commencing or modified after January 1, 2019. Allowances for Tenant and Deferred Rent Receivables Upon the adoption of Topic 842 on January 1, 2019, the Company’s determination of the adequacy of its allowances for tenant receivables includes a binary assessment of whether or not the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. In addition, for tenant and deferred rent receivables deemed probable of collection the Company also may record an allowance under other authoritative GAAP depending upon the Company’s evaluation of the individual receivables, specific credit enhancements, current economic conditions, and other relevant factors. Such allowances are recorded as increases or decreases through rental income in the Company’s consolidated statements of operations. New Accounting Standards Recently Issued and Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement	Recent Accounting Pronouncements New Accounting Standards Issued and Adopted In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers New Accounting Standards Issued and Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842), Targeted Improvements In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement In December 2018, the FASB issued ASU No. 2018- 20, Leases (Topic 842), Narrow-Scope Improvements for Lessors (“ASU No.2018-13”). ASU No. 2018-20 provides clarification for lessors when applying Topic 842. The areas of clarification include sales taxes and other similar taxes collected from lessees, treatment of certain lessor costs and recognition of variable payments for contracts with lease and nonlease components. The amendments in ASU No. 2018-20 affect the amendments in ASU No. 2016-02, which are not yet effective but can be early adopted. The effective date and transition requirements of ASU No. 2018-20 is January 1, 2019 for the Company. All entities are required to apply the amendments in ASU No. 2018-20 to all new and existing leases. Consistent with the adoption of ASU No. 2016-02, the Company does not expect the adoption of ASU No. 2018-20 will have a material impact on the Company’s consolidated financial position, results of operations or cash flows.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Q2) - (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial statements and the rules and regulations of the SEC. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. Such unaudited condensed consolidated financial statements and accompanying notes are the representations of the Company’s management, which is responsible for their integrity and objectivity. These unaudited condensed consolidated financial statements should be read in conjunction with the December 31, 2018 audited consolidated financial statements included in the Company’s Form 10-K filed with the SEC on March 29, 2019. The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which are normal and recurring, necessary to fairly state its financial position, results of operations and cash flows. All significant intercompany balances and transactions are eliminated in consolidation. The December 31, 2018 balance sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements.	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation. The consolidated financial statements and accompanying notes are the representations of the Company’s management, who is responsible for their integrity and objectivity. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements and the accompanying notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates.
Fair Value Disclosures	Fair Value Disclosures Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an existing price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: Level 1: quoted prices in active markets for identical assets or liabilities; Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value for certain financial instruments is derived using valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of financial instrument for which it is practicable to estimate the fair value: Cash and cash equivalents, restricted cash, tenant receivables, due from affiliates, purchase and other deposits, prepaid expenses and other assets, accounts payable, accrued and other liabilities and due to affiliates: These balances approximate their fair values due to the short maturities of these items. Derivative Instruments Unsecured Credit Facility Mortgage notes payable:
Restricted Cash	Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements. Restricted cash as of June 30, 2019 and December 31, 2018 amounted to $156,046 and $3,503,242, respectively. Pursuant to lease agreements, the Company had obligations to pay for $156,046 and $3,535,163 in site and tenant improvements to be incurred by tenants as of June 30, 2019 and December 31, 2018, respectively, including a 72.7% share of tenant improvements for the Santa Clara property at both balance sheet dates. At June 30, 2019 and December 31, 2018, the Company's restricted cash held to fund the improvements totaled $99,228 and $3,486,927, respectively. As of June 30, 2019 and December 31, 2018, the Company also held restricted cash to fund an impounded property tax. During the second quarter of 2019, $3,387,699 of restricted cash was released to a tenant to reimburse it for tenant improvement costs under the terms of its lease agreement.	Restricted Cash Restricted cash is comprised of funds which are restricted for use as required by certain lenders in conjunction with an acquisition or debt financing and for on-site and tenant improvements or property taxes. Restricted cash as of December 31, 2018 and 2017 amounted to $3,503,242 and $944,582, respectively. Pursuant to lease agreements, the Company has obligations to pay for $3,535,163 and $1,899,485 in site and tenant improvements to be incurred by tenants as of December 31, 2018 and 2017, respectively, including a 72.7% share of the tenant improvements for the Santa Clara property. At December 31, 2018 and 2017, the Company’s restricted cash held to fund these improvements totaled $3,486,927 and $944,582, respectively. As of December 31, 2018, the Company also held restricted cash of $16,315 to fund an impounded property tax.
Other Comprehensive Loss	Other Comprehensive Loss For all periods presented, other comprehensive loss is the same as net loss.
Reclassifications	Reclassifications Certain prior period revenue account balances in the statement of operations have been reclassified to conform with the current year presentation. The reclassifications had no impact on net loss.	Reclassifications Certain reclassifications have been made to the 2017 consolidated financial statements to conform with the 2018 consolidated financial statements presentation. The reclassifications had no impact on the Company's prior year results of operations.
Per Share Data	Per Share Data Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted loss per share of common stock equals basic loss per share of common stock as there were no potentially dilutive securities outstanding during the three and six months ended June 30, 2019 and 2018. For the three and six months ended June 30, 2019 and 2018, the Company has presented net loss per share amounts on the accompanying condensed consolidated statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for allocating income (loss) in accordance with the provisions of Accounting Standards Codification ("ASC") 260, Earnings per Share The differences in net loss per share if allocated under this method primarily reflect the lower effective dividends per share for Class S shareholders as a result of the payment of the deferred commission to the Class S distributor of these shares, and also reflect the impact of the timing of the declaration of the dividends relative to the time the shares were outstanding.	Per Share Data Basic earnings per share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock equals basic earnings per share of common stock as there were no potentially dilutive securities outstanding for the years ended December 31, 2018 and 2017. We have presented net loss per share amounts on the accompanying statements of operations for Class C and S share classes as a combined common share class. Application of the two-class method for the allocating net loss in accordance with the provisions of ASC 260, Earnings per Share Distributions declared per share of Class C common stock were $0.7035 and $0.7000 for the years ended December 31, 2018 and 2017, respectively. Distributions declared per share of Class S common stock were $0.7035 for the year ended December 31, 2018 and $0.1750 for the three month period ended December 31, 2017, which was the first period in which distributions were declared. The distribution paid per share of Class S common stock is net of the deferred selling commission.
Distributions	Distributions The Company’s board of directors may declare distributions in advance of the periods to which they relate. Because such distributions relate to operations and cash available for distributions to be produced in future periods, these distributions will not be included in distributions that are recorded in the current period being reported. The following are the Company’s updated significant accounting policies that have been affected by the adoption of Topic 842 as discussed below in New Accounting Standards Issued and Adopted:	Distributions The Company intends, although is not legally obligated, to continue to make regular monthly distributions to holders of its shares at least at the level required to maintain REIT status unless the results of operations, general financial condition, general economic conditions or other factors inhibits the Company from doing so. Distributions are authorized at the discretion of the Company’s board of directors, which is directed, in substantial part, by its obligation to cause the Company to comply with the REIT requirements of the Internal Revenue Code. To the extent declared by the board of directors, distributions are payable on the 25th day of the following month declared. Should the 25th day fall on a weekend, distributions are payable on the first business day thereafter. Prior to January 19, 2018, to the extent distributions were declared by the board of directors, they were payable on the 10th day of the following month declared or on the first business day thereafter. The following presents the federal income tax characterization of the distributions paid: Years Ended December 31 2018 2017 Ordinary income $ 0.0352 $ 0.1110 Non-taxable distribution 0.6683 0.5890 Total $ 0.7035 $ 0.7000 Distribution Reinvestment Plan The Company has adopted the DRP through which common stockholders may elect to reinvest any amount up to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. Participants in the DRP acquire common stock at a price per share equal to the price to acquire a share of common stock in the Offering. The initial price of the Registered DRP Offering was $10.00 per share used through January 18, 2018.This price is expected to adjust during the course of the Registered DRP Offering on an annual basis to equal the NAV per share. Effective January 19, 2018, the Registered DRP Offering price was revised based on the estimated NAV to $10.05 per share and effective January 14, 2019, the Registered DRP Offering price was revised based on the estimated NAV to $10.16 (unaudited).
Recent Accounting Pronouncements	Recent Accounting Pronouncements New Accounting Standards Issued and Adopted Effective January 1, 2019, the Company adopted Financial Accounting Standards Board ("FASB") ASU No. 2016-02 "Leases (Topic 842)" Lessor Accounting As a lessor, the Company’s leases with tenants generally provide for the lease of real estate properties, as well as common area maintenance, property taxes and other recoverable costs. Under Topic 842, the lease of space is considered a lease component while the common area maintenance, property taxes and other recoverable costs billings are considered nonlease components, which fall under revenue recognition guidance in Topic 606. However, upon adopting the guidance in Topic 842, the Company determined that its tenant leases met the criteria to apply the practical expedient provided by ASU 2018-11 to recognize the lease and non-lease components together as one single component. This conclusion was based on the consideration that 1) the timing and pattern of transfer of the nonlease components and associated lease component are the same, and 2) the lease component, if accounted for separately, would be classified as an operating lease. As the lease of properties is the predominant component of the Company’s leasing arrangements, the Company accounted for all lease and nonlease components as one-single component under Topic 842. As a result, the adoption of Topic 842 did not have any impact on the Company’s timing or pattern of recognition of rental revenues as compared to previous guidance. To reflect recognition as one lease component, rental income and tenant reimbursements and other lease related property income that meet the requirements of the practical expedient provided by ASU 2018-11 have been combined under rental income subsequent to the adoption of Topic 842 for the three and six months ended June 30, 2019 in the Company’s consolidated statements of operations. The Company also made a conforming reclassification for the prior year’s tenant reimbursements. For the three month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $1,098,603 and $732,934, respectively, and for the six month periods ended June 30, 2019 and 2018, tenant reimbursements included in rental income amounted to $2,186,463 and $1,261,519, respectively. Prior to the adoption of Topic 842, lessor costs for certain services directly reimbursed by tenants have already been presented by the Company on a gross basis in revenues and expenses. Leasing Costs Upon adoption of Topic 842, the Company elected to apply the package of practical expedients provided and did not reassess the following as of January 1, 2019: 1) whether any expired or existing contracts are leases or contain leases; 2) the lease classification for any expired or existing leases; and 3) initial direct costs for any existing leases. Under Topic 842, initial direct costs for both lessees and lessors would include only those costs that are incremental to the arrangement and would not have been incurred if the lease had not been obtained. As a result, beginning January 1, 2019, the Company will no longer capitalize internal leasing costs and third-party legal leasing costs and will instead expense these costs as incurred. These expenses will be included in legal leasing costs under general and administrative expenses in our consolidated statements of operations. During the three months ended March 31, 2019, the Company did not incur any indirect leasing costs which would have been capitalized prior to the adoption of Topic 842. The election of the package of practical expedients described above permits us to continue to account for our leases that commenced before January 1, 2019 under the previously existing lease accounting guidance for the remainder of their lease terms, and to apply the new lease accounting guidance to leases commencing or modified after January 1, 2019. Allowances for Tenant and Deferred Rent Receivables Upon the adoption of Topic 842 on January 1, 2019, the Company’s determination of the adequacy of its allowances for tenant receivables includes a binary assessment of whether or not the amounts due under a tenant’s lease agreement are probable of collection. For such amounts that are deemed probable of collection, revenue continues to be recorded on a straight-line basis over the lease term. For such amounts that are deemed not probable of collection, revenue is recorded as the lesser of (i) the amount which would be recognized on a straight-line basis or (ii) cash that has been received from the tenant, with any tenant and deferred rent receivable balances charged as a direct write-off against rental income in the period of the change in the collectability determination. In addition, for tenant and deferred rent receivables deemed probable of collection the Company also may record an allowance under other authoritative GAAP depending upon the Company’s evaluation of the individual receivables, specific credit enhancements, current economic conditions, and other relevant factors. Such allowances are recorded as increases or decreases through rental income in the Company’s consolidated statements of operations. New Accounting Standards Recently Issued and Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement	Recent Accounting Pronouncements New Accounting Standards Issued and Adopted In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers New Accounting Standards Issued and Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842), Targeted Improvements In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement In December 2018, the FASB issued ASU No. 2018- 20, Leases (Topic 842), Narrow-Scope Improvements for Lessors (“ASU No.2018-13”). ASU No. 2018-20 provides clarification for lessors when applying Topic 842. The areas of clarification include sales taxes and other similar taxes collected from lessees, treatment of certain lessor costs and recognition of variable payments for contracts with lease and nonlease components. The amendments in ASU No. 2018-20 affect the amendments in ASU No. 2016-02, which are not yet effective but can be early adopted. The effective date and transition requirements of ASU No. 2018-20 is January 1, 2019 for the Company. All entities are required to apply the amendments in ASU No. 2018-20 to all new and existing leases. Consistent with the adoption of ASU No. 2016-02, the Company does not expect the adoption of ASU No. 2018-20 will have a material impact on the Company’s consolidated financial position, results of operations or cash flows.

SUMMARY OF SIGNIFICANT ACOUNT_3

SUMMARY OF SIGNIFICANT ACOUNTING POLICIES (FY) (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Dividends Declared	The following presents the federal income tax characterization of the distributions paid: Years Ended December 31 2018 2017 Ordinary income $ 0.0352 $ 0.1110 Non-taxable distribution 0.6683 0.5890 Total $ 0.7035 $ 0.7000

CONSOLIDATED BALANCE SHEETS D_2

CONSOLIDATED BALANCE SHEETS DETAILS (FY) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Supplemental Details For Certain Consolidation Balance Sheet [Abstract]
Condensed Balance Sheet	Tenant receivables consisted of the following: June 30, 2019 December 31, 2018 Straight-line rent $ 2,915,852 $ 2,231,966 Tenant rent 76 312,171 Tenant reimbursements 1,065,650 1,019,355 Tenant other 164,761 95,622 Total $ 4,146,339 $ 3,659,114 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: June 30, 2019 December 31, 2018 Accounts payable $ 470,188 $ 227,793 Accrued expenses 1,612,897 1,421,197 Accrued dividends 896,291 749,170 Accrued interest payable 429,256 445,481 Unearned rent 749,865 827,338 Deferred commission payable 1,350 1,650 Tenant improvement obligation 104,385 3,492,084 Total $ 4,264,232 $ 7,164,713	Tenant receivables consisted of the following: December 31, 2018 2017 Straight-line rent $ 2,231,966 $ 995,822 Tenant rent 312,171 27,460 Tenant disbursements 1,019,355 239,813 Tenant other 95,622 — Total $ 3,659,114 $ 1,263,095 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: December 31, 2018 2017 Accounts payable $ 227,793 $ 244,430 Accrued expenses 1,421,197 568,881 Accrued dividends 749,170 2,427 Accrued interest payable 445,481 186,841 Unearned rent 827,338 548,266 Deferred commission payable 1,650 2,250 Lease incentive obligation 3,492,084 858,389 Total $ 7,164,713 $ 2,411,484

REAL ESTATE INVESTMENTS (FY) (T

REAL ESTATE INVESTMENTS (FY) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
Schedule of Real Estate Properties	The following table provides summary information regarding the Company’s real estate investment portfolio as of June 30, 2019: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Health Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,516,731 ) $ 9,392,753 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (997,540 ) 3,855,831 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (105,640 ) 1,292,474 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (135,196 ) 1,549,233 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (101,501 ) 1,205,089 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (97,316 ) 1,188,719 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (99,877 ) 1,113,852 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (97,041 ) 1,091,453 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,246,883 ) 8,356,897 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,794,441 ) 11,929,749 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (497,611 ) 5,810,758 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (734,877 ) 12,443,411 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (638,485 ) 10,437,230 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (591,123 ) 8,038,975 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (465,575 ) 7,078,614 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (335,108 ) 6,088,990 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (578,086 ) 12,276,062 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (1,070,027 ) 26,287,873 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (1,608,573 ) 15,510,607 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (960,095 ) 15,042,394 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (428,401 ) 12,229,909 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (235,372 ) 7,454,552 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (308,484 ) 10,534,423 Costco Issaquah, WA 12/20/2018 Office 27,263,632 2,765,136 (702,672 ) 29,326,096 $ 217,494,190 $ 17,717,819 $ (15,346,655 ) $ 219,865,354	The following table provides summary information regarding the Company’s real estate portfolio as of December 31, 2018: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,265,678 ) $ 9,643,806 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (833,561 ) 4,019,810 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (85,518 ) 1,312,596 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (109,445 ) 1,574,984 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (82,167 ) 1,224,423 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (78,780 ) 1,207,255 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (80,853 ) 1,132,876 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (78,557 ) 1,109,937 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,001,594 ) 8,602,186 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,402,927 ) 12,321,263 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (389,042 ) 5,919,327 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (562,523 ) 12,615,765 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (461,240 ) 10,614,475 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (435,346 ) 8,194,752 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (343,275 ) 7,200,914 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (245,453 ) 6,178,645 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (399,615 ) 12,454,533 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (722,991 ) 26,634,909 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (985,899 ) 16,133,281 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (562,814 ) 15,439,675 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (204,887 ) 12,453,423 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (86,716 ) 7,603,208 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (90,731 ) 10,752,176 Costco Issaquah, WA 12/20/2018 Retail 27,263,632 2,765,136 (54,052 ) 29,974,716 $ 217,494,190 $ 17,717,819 $ (10,563,664 ) $ 224,648,345
Property Acquisitions	During the six months ended June 30, 2018, the Company acquired the following properties: Property Acquisition Date Land Buildings and Improvements Tenant Origination and Absorption Costs Below- Market Lease Intangibles Total 3M 3/29/2018 $ 758,780 $ 14,004,039 $ 2,356,361 $ (1,417,483 ) $ 15,701,697 Cummins 4/4/2018 3,347,959 11,117,532 1,536,998 — 16,002,489 Northrop Grumman Parcel 6/21/2018 329,410 — — — 329,410 $ 4,436,149 $ 25,121,571 $ 3,893,359 $ (1,417,483 ) $ 32,033,596	During the year ended December 31, 2018, the Company acquired the following properties: Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total 3M $ 758,780 $ 14,004,039 $ 2,356,361 $ — $ (1,417,483 ) $ 15,701,697 Cummins 3,347,959 11,117,531 1,536,998 — — 16,002,488 Northrop Grumman Parcel 329,410 — — — — 329,410 24 Hour Fitness 3,121,985 8,331,352 1,204,974 — — 12,658,311 Texas Health 1,827,914 5,148,789 713,221 — — 7,689,924 Bon Secours 1,658,659 8,383,892 800,356 — — 10,842,907 Costco 8,202,915 19,060,717 2,765,136 — — 30,028,768 $ 19,247,622 $ 66,046,320 $ 9,377,046 $ — $ (1,417,483 ) $ 93,253,505 During the year ended December 31, 2017, the Company acquired the following properties. Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total Northrop Grumman $ 1,191,024 $ 11,191,967 $ 1,341,199 $ — $ — $ 13,724,190 exp US Services 785,801 5,134,320 388,248 616,486 — 6,924,855 Harley 1,145,196 12,033,092 — — — 13,178,288 Wyndham 4,144,069 5,303,201 669,232 — — 10,116,502 Williams Sonoma 3,546,744 3,478,337 550,486 — (364,555 ) 7,211,012 Omnicare 800,772 6,242,156 281,442 — — 7,324,370 EMCOR 427,589 5,533,021 463,488 — (285,562 ) 6,138,536 Husqvarna 974,663 10,866,481 1,013,948 — (852,044 ) 12,003,048 AvAir 3,493,673 23,859,451 — — — 27,353,124 $ 16,509,531 $ 83,642,026 $ 4,708,043 $ 616,486 $ (1,502,161 ) $ 103,973,925
Property Purchase Price	Purchase price $ 32,033,596 Acquisition fees to affiliate (930,000 ) Cash paid for acquisition of real estate investments $ 31,103,596	Purchase price and other acquisition costs $ 93,253,505 Acquisition fees to affiliate (2,702,043 ) Acquisition of real estate before financing $ 90,551,462 Purchase price and other acquisition costs $ 103,973,925 Purchase deposits applied (500,000 ) Acquisition fees to affiliate (3,015,057 ) Acquisition of real estate before financing $ 100,458,868
Lease Expiration Dates	The non-cancelable lease terms of the properties acquired during the six months ended June 30, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023	The noncancellable lease terms of the properties acquired during the year ended December 31, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023 24 Hour Fitness 3/31/2030 Texas Health 12/31/2025 Bon Secours 8/31/2026 Costco 7/31/2025 (1) (1) The tenant’s right to cancel the lease on July 31, 2023 was not determined to be probable for financial accounting purposes. The noncancellable lease terms of the properties acquired during the year ended December 31, 2017 are as follows: Property Lease Expiration Northrop Grumman 5/31/2021 exp US Services 11/30/2026 Harley 4/12/2032 Wyndham 2/28/2025 Williams Sonoma 10/31/2022 Omnicare 5/31/2026 EMCOR 2/28/2027 Husqvarna 6/30/2027(1) AvAir 12/31/2032 (1) The tenant’s right to cancel lease on June 30, 2025 was not determined to be probable for financial accounting purposes.
Portfolios Asset Concentration	As of June 30, 2019 and December 31, 2018, the Company’s portfolio’s asset concentration (greater than 10% of total assets) was as follows: June 30, 2019 December 31, 2018 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets Costco, Issaquah, WA $ 29,326,096 11.7 % $ 29,974,716 11.9 % AvAir, Chandler, AZ $ 26,287,873 10.5 % $ 26,634,909 10.6 %	Asset Concentration The Company’s portfolio asset concentration as of December 31 was as follows (greater than 10% of total assets): 2018 2017 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets AvAir, Chandler, AZ $ 26,634,909 10.6 % $ 27,353,125 17.4 % Costco, Issaquah, WA $ 29,974,716 11.9 % $ — — Revenue Concentration The Company’s revenue concentration based on tenants representing greater than 10% of total revenues for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue AvAir, Chandler, AZ $ 2,670,159 14.8 % $ 2,100,000 19.9 % Northrop Grumman, Melbourne, FL $ — — $ 1,162,274 11.0 %
Rental Payments for Operating Leases	As of June 30, 2019, the future minimum contractual rent payments due to the Company under the Company’s non-cancelable operating leases, excluding any renewal periods, are as follows: July through December 2019 $ 8,838,687 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 2024 12,958,858 Thereafter 46,224,832 $ 131,447,201	As of December 31, 2018, the future minimum contractual rent payments due under the Company’s operating leases, excluding any renewal periods, are as follows: 2019 $ 17,588,378 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 Thereafter 59,183,690 $ 140,196,892
Finite-Lived Intangible Assets	As of June 30, 2019, the Company’s lease intangibles were as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) Accumulated amortization (4,569,358 ) (247,390 ) 713,067 Net amount $ 13,148,461 $ 535,725 $ (2,358,186 )	As of December 31, 2018 and 2017, the Company’s intangible assets were as follows: 2018 2017 Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) $ 8,340,774 $ 783,115 $ (1,653,771 ) Accumulated amortization (3,173,254 ) (198,867 ) 475,871 (1,192,318 ) (101,822 ) 69,542 Net amount $ 14,544,565 $ 584,248 $ (2,595,382 ) $ 7,148,456 $ 681,293 $ (1,584,229 )
Finite-Lived Intangible Assets, Future Amortization	The intangible assets acquired in connection with these acquisitions have a weighted average amortization period of approximately 7.4 years as of June 30, 2019. The amortization of intangible assets over the next five years is expected to be as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles July through December 2019 $ 1,396,105 $ 48,524 $ (237,195 ) 2020 2,792,209 97,045 (474,391 ) 2021 2,375,949 78,994 (474,391 ) 2022 1,839,880 63,719 (306,829 ) 2023 1,214,116 63,719 (78,369 ) 2024 1,066,544 63,719 (67,420 ) Thereafter 2,463,658 120,005 (719,591 ) $ 13,148,461 $ 535,725 $ (2,358,186 ) Weighted-average remaining amortization period 7.0 years 6.8 years 9.7 years	As of December 31, 2018, amortization of intangible assets over the next five years is expected to be as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles 2019 $ 2,792,209 $ 97,045 $ 474,391 2020 2,792,209 97,045 474,391 2021 2,375,950 78,994 474,391 2022 1,839,880 63,720 306,829 2023 1,214,116 63,719 78,370 Thereafter 3,530,201 183,725 787,010 $ 14,544,565 $ 584,248 $ 2,595,382 Weighted-Average Remaining Amortization Period 7.2 years 7.2 years 9.8 years
Schedule of Capitalized Properties Acquisition		Capitalized acquisition fees paid to the Advisor for properties acquired during the year ended December 31, 2018 are as follows: Property Amount 3M $ 456,000 Cummins 465,000 Northrop Grumman Parcel 9,000 24 Hour Fitness 366,000 Texas Health 222,750 Bon Secours 313,293 Costco 870,000 Total $ 2,702,043 Capitalized acquisition fees paid to the Advisor for properties acquired during the year ended December 31, 2017 are as follows: Property Northrop Grumman $ 398,100 exp US Services 200,837 Harley 382,500 Wyndham 292,970 Williams Sonoma 209,165 Omnicare 211,275 EMCOR 177,210 Husqvarna 348,000 AvAir 795,000 Total $ 3,015,057

INVESTMENTS IN UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED ENTITIES (FY) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	The Company’s investments in unconsolidated entities are as follows: June 30, 2019 December 31, 2018 TIC Interest $ 10,627,777 $ 10,749,332 REIT I 3,359,296 3,526,483 $ 13,987,073 $ 14,275,815	The Company’s investments in unconsolidated entities are as follows: December 31, 2018 2017 The TIC Interest (1) $ 10,749,332 $ 11,103,547 Rich Uncles Real Estate Investment Trust I (“REIT I”) 3,526,483 3,420,475 $ 14,275,815 $ 14,524,022 (1) The Company’s investment includes $626,073 of acquisition fees paid to affiliate (see Note 8).
Entities Equity in Earnings	The Company’s income from investments in unconsolidated entities, net is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 TIC Interest $ 71,703 $ 70,907 $ 152,063 $ 120,687 REIT I (15,748 ) (32,301 ) (22,075 ) (27,202 ) $ 55,955 $ 38,606 $ 129,988 $ 93,485	The Company’s income (loss) from investments in unconsolidated entities is as follows: Years Ended December 31, 2018 2017 The TIC Interest $ 269,191 $ 30,038 REIT I (43,167 ) 169,195 $ 226,024 $ 199,233
Summarized Financial Information	The following is summarized financial information for the Santa Clara property: June 30, 2019 December 31, 2018 Assets: Real estate investments, net $ 31,172,028 $ 31,668,300 Cash and cash equivalents 523,176 466,379 Other assets 183,352 117,075 Total assets $ 31,878,556 $ 32,251,754 Liabilities: Mortgage notes payable $ 13,871,312 $ 13,994,844 Below-market lease, net 3,028,569 3,103,778 Other liabilities 53,779 61,188 Total liabilities 16,953,660 17,159,810 Total equity 14,924,896 15,091,944 Total liabilities and equity $ 31,878,556 $ 32,251,754 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total revenues $ 693,571 $ 713,218 $ 1,359,992 $ 1,322,012 Expenses: Interest expense 143,367 145,960 285,886 290,985 Depreciation and amortization 248,136 248,136 496,272 495,349 Other expenses 203,452 223,358 368,697 369,694 Total expenses 594,955 617,454 1,150,855 1,156,028 Net income $ 98,616 $ 95,764 $ 209,137 $ 165,984
The TIC Interest
Schedule of Equity Method Investments [Line Items]
Summarized Financial Information		The following is summarized financial information for the Santa Clara property: December 31, 2018 2017 Assets: Real estate investments, net $ 31,668,300 $ 32,587,034 Cash and cash equivalents 466,379 615,436 Other assets 117,075 103,700 Total assets $ 32,251,754 $ 33,306,170 Liabilities: Mortgage notes payable, net $ 13,994,844 $ 14,235,256 Below-market lease, net 3,103,778 3,247,480 Other liabilities 61,188 246,085 Total liabilities 17,159,810 17,728,821 Total equity 15,091,944 15,577,349 Total liabilities and equity $ 32,251,754 $ 33,306,170 Year Ended December 31, 2018 Period From September 28, 2017 Through December 31, 2017 Total revenue $ 2,678,110 $ 757,850 Expenses: Depreciation and amortization 584,059 154,339 Interest expense 991,621 410,722 Other expense 730,448 151,477 Total expenses 2,306,128 716,538 Net income $ 371,982 $ 41,312
Rich Uncles Real Estate Investment Trust I ("REIT I")
Schedule of Equity Method Investments [Line Items]
Summarized Financial Information	The following is summarized financial information for REIT I: June 30, 2019 December 31, 2018 Assets: Real estate investments, net $ 120,644,631 $ 125,075,537 Cash and cash equivalents and restricted cash 3,258,934 3,376,145 Other assets 2,647,717 3,070,475 Total assets $ 126,551,282 $ 131,522,157 Liabilities: Mortgage notes payable, net $ 62,033,836 $ 61,446,068 Below-market lease intangibles, net 2,675,761 3,105,843 Other liabilities 1,535,864 3,359,618 Total liabilities 66,245,461 67,911,529 Redeemable common stock — 163,572 Total shareholders’ equity 60,305,821 63,447,056 Total liabilities and shareholders’ equity $ 126,551,282 $ 131,522,157 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total revenues $ 3,277,710 $ 3,365,163 $ 6,566,354 $ 6,596,381 Expenses: Depreciation and amortization 1,444,354 1,409,093 2,886,414 2,857,337 Interest expense 982,223 631,838 1,845,396 1,116,711 Impairment of real estate investment property (1) — 862,190 — 862,190 Other expenses 1,175,029 1,206,883 2,403,892 2,386,920 Total expenses 3,601,606 4,110,004 7,135,702 7,223,158 Other income: Other income (2) — — 113,773 — Net loss $ (323,896 ) $ (744,841 ) $ (455,575 ) $ (626,777 ) (1) During the three months ended June 30, 2018, REIT I recorded an impairment charge of $862,190 related to its investment in a property in Antioch, California due to the expiration of the tenant’s lease term at December 31, 2017 and REIT I’s subsequent difficulties encountered during the first half of 2018 in its efforts to re-lease the property at acceptable rent rates and without incurring substantial potential tenant improvement costs. The impairment charge was less than 1.0% of REIT I’s total investments in real estate property and the book value of the property after the impairment charge was less than 2.0% of REIT I’s total investments in real estate property as of June 30, 2018. (2) The gain on sale of real estate investment property of $113,773 during the six months ended June 30, 2019 was due to the higher mortgage loan balance and related interest payable of the property in Antioch, California compared to its net book value when it was relinquished in a foreclosure sale on March 13, 2019.	The following is summarized financial information for REIT I: December 31, 2018 2017 Assets: Real estate investments, net $ 125,075,537 $ 131,166,670 Cash and cash equivalents and restricted cash 3,376,145 6,027,807 Other assets 3,070,475 2,658,777 Total assets $ 131,522,157 $ 139,853,254 Liabilities: Mortgage notes payable, net $ 61,446,068 $ 62,277,387 Below-market lease, net 3,105,843 3,966,008 Other liabilities 3,359,618 2,937,247 Total liabilities 67,911,529 69,180,642 Redeemable common stock 163,572 586,242 Total shareholders' equity 63,447,056 70,086,370 Total liabilities, redeemable common stock and stockholders' equity $ 131,522,157 $ 139,853,254 Years Ended December 31, 2018 2017 Total revenue $ 13,166,631 $ 12,837,755 Expenses: Depreciation and amortization 5,783,643 5,654,451 Interest expense 2,813,430 2,503,810 Other expense 4,603,963 4,033,242 Impairment of real estate investment property 862,190 — Total expenses 14,063,226 12,191,503 Other income: Gain on sale of real estate investment property, net — 747,957 Other income — 838 Total other income — 748,795 Net (loss) income $ (896,595 ) $ 1,395,047

DEBT (FY) (Tables)

DEBT (FY) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Companies Mortgage Notes	As of June 30, 2019 and December 31, 2018, the Company’s mortgage notes payable consisted of the following: Collateral Principal Amount June 30, 2019 Principal Amount December 31, 2018 Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo/Walgreen properties $ 6,925,661 $ 6,996,469 3.95 % 3.95 % 7/1/2021 Dana property 4,592,001 4,632,398 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,852,196 3,885,334 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,769,600 5,820,600 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,573,200 4,615,800 One-month LIBOR+2.05% 4.05 % 6/5/2022 Omnicare property 4,311,660 4,349,963 4.36 % 4.36 % 5/1/2026 Harley property 6,808,386 6,868,254 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,738,558 5,809,367 4.40 % 4.40 % 3/2/2021 EMCOR property 2,887,126 2,911,577 4.35 % 4.35 % 12/1/2024 exp US Services property 3,416,049 3,446,493 (3 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 6,379,182 (4 ) 4.60 % 2/20/2028 AvAir property 14,575,000 14,575,000 (5 ) 4.84 % 3/27/2028 3M property 8,350,000 8,360,000 One-month LIBOR+2.25% 5.09 % 3/29/2023 Cummins property 8,519,800 8,530,000 One-month LIBOR+2.25% 5.16 % 4/4/2023 24 Hour Fitness property (6) 6,333,666 8,900,000 4.64 % 4.64 % 4/1/2049 Texas Health property (7) — 4,842,500 One-month LIBOR+4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 5,250,000 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 18,850,000 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 117,132,085 125,022,937 Less unamortized deferred financing costs (2,099,104 ) (2,313,629 ) $ 115,032,981 $ 122,709,308 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of June 30, 2019. Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 consisting of the contractual interest rate and the effect of the interest rate swap, if applicable. For further information regarding the Company’s derivative instruments, see Note 7. (2) The loans on each of the Williams Sonoma and Wyndham properties (collectively, the "Property") located in Summerlin, Nevada were originated by Nevada State Bank ("Bank"). The loans are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the loans, is an event of default under the terms of both loans. The value of the Property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the loan to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the loans so that the loan to value ratio is no more than 60%. (3) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (4) The initial contractual interest rate is 4.60% for the first five years and starting February 21, 2023, the interest rate is the greater of 4.60% or five-year Treasury Constant Maturity ("TCM") plus 2.45% for the second five years. (5) The initial contractual interest rate is 4.84% for the first five-years and starting March 28, 2023, the interest rate is the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (6) The loan refinancing on March 7, 2019 reduced the principal amount outstanding and the rate and extended the maturity. The interest rate for the note payable outstanding as of June 30, 2019 adjusts in the 133rd, 253rd and 313th months. (7) The loan was fully repaid on the March 13, 2019 maturity date.	As of December 31, 2018 and 2017, the Company’s mortgage notes payable consisted of the following: Collateral 2018 Principal Balance 2017 Principal Balance Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo Health/Walgreen properties $ 6,996,469 $ 7,133,966 3.95 % 3.95 % 7/1/2021 Dana property 4,632,398 4,709,889 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,885,334 3,951,846 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,820,600 5,920,800 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,615,800 4,699,200 One-month LIBOR+2.05% 4.34 % 6/5/2022 Omnicare property 4,349,963 4,423,574 4.36 % 4.36 % 5/1/2026 Harley property 6,868,254 6,983,418 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,809,367 5,945,655 4.40 % 4.40 % 3/2/2021 EMCOR property 2,911,577 2,955,000 4.35 % 4.35 % 12/1/2024 exp US Services property 3,446,493 3,505,061 (4 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 — (5 ) 4.60 % 2/20/2028 AvAir property (3) 14,575,000 12,000,000 (6 ) 4.84 % 3/27/2028 3M property 8,360,000 — One-month LIBOR +2.25% 5.09 % 3/29/2023 Cummins property 8,530,000 — One-month LIBOR +2.25% 5.16 % 4/4/2023 24 Hour Fitness property 8,900,000 — One-month LIBOR +4.30% 6.56 % 3/17/2019 Texas Health property 4,842,500 — One-month LIBOR +4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 — 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 — 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 125,022,937 62,228,409 Less unamortized deferred financing costs (2,313,629 ) (1,741,106 ) Mortgage notes payable, net $ 122,709,308 $ 60,487,303 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of December 31, 2018. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2018 (consisting of the contractual interest rate and the effect of the interest rate swap, if applicable). For further information regarding the Company’s derivative instruments (see Note 7). (2) The notes on each of the Williams Sonoma and Wyndham properties (collectively, the “Property”) located in Summerlin, Nevada were originated by Nevada State Bank (“Bank”). The notes are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the notes is an event of default under the terms of both notes. The value of the property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the note to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the notes so that the note to value ratio is no more than 60%. (3) On March 27, 2018, the Company refinanced the mortgage note payable as of December 31, 2017 with a new note for $14,575,000 through a nonaffiliated lender. The note is secured by the AvAir property and it matures on March 27, 2028. (4) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (5) The initial contractual interest rate is 4.60% for the first five years and the greater of 4.60% or five-year Treasury Constant Maturity (“TCM”) plus 2.45% for the second five years. (6) The initial contractual interest rate for the note payable outstanding as of December 31, 2018 is 4.84% for the first five-years and the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (7) On March 7, 2019, the Company refinanced the mortgage note payable as of March 17, 2019 with a new note for $6,350,000 through a nonaffiliated lender. The new note is secured by the 24 Hour Fitness property and it matures on March 7, 2049. (8) On March 13, 2019, the Company repaid this mortgage note payable with borrowings under its unsecured line of credit.
Mortgage Notes Payable		The following were the face value, carrying amount and fair value of the Company’s mortgage notes payable as of December (Level 3 measurement): 2018 2017 Face Value Carrying Value Fair Value Face Value Carrying Value Fair Value Mortgage notes payable $ 125,022,937 $ 122,709,308 $ 123,821,490 $ 62,228,409 $ 60,487,303 $ 62,363,284
Future Principal Repayments	The following summarizes the future principal repayments of the Company’s mortgage notes payable and New Credit Facility as of June 30, 2019: Mortgage Note Payable New Credit Facility Total July through December 2019 $ 637,333 $ — $ 637,333 2020 1,523,095 — 1,523,095 2021 8,223,343 — 8,223,343 2022 14,617,593 — 14,617,593 2023 21,247,852 — 21,247,852 2024 12,966,778 — 12,966,778 Thereafter 57,916,091 — 57,916,091 Total principal 117,132,085 — 117,132,085 Less: Deferred financing costs, net (2,099,104 ) — (2,099,104 ) Net principal $ 115,032,981 $ — $ 115,032,981	The following summarizes the future principal repayments of the Company’s mortgage notes payable and Unsecured Credit Facility as of December 31, 2018: Mortgage Notes Payable Unsecured Credit Facility Total 2019 $ 14,852,271 $ 9,000,000 (1) $ 23,852,271 2020 1,435,312 — 1,435,312 2021 8,130,359 — 8,130,359 2022 14,516,126 — 14,516,126 2023 21,115,026 — 21,115,026 Thereafter 64,973,843 — 64,973,843 Total principal 125,022,937 9,000,000 134,022,937 Deferred financing costs, net (2,313,629 ) (2,000 ) (2,315,629 ) Total $ 122,709,308 $ 8,998,000 $ 131,707,308 (1) The maturity date of the outstanding borrowings under the Company's Unsecured Credit Facility was extended to April 30, 2019, as discussed in Note 10.
Interest Expenses Reconciliation	The following is a reconciliation of the components of interest expense for the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Mortgage notes payable: Interest expense $ 1,368,662 $ 996,756 $ 2,845,158 $ 1,822,477 Amortization of deferred financing costs 109,071 98,648 379,593 505,534 Loss (gain) on interest rate swaps (1) 562,571 15,877 890,385 (213,389 ) Unsecured credit facility: Interest expense 27,918 83,408 111,436 166,397 Amortization of deferred financing costs 8,503 8,571 10,503 12,857 Total interest expense $ 2,076,725 $ 1,203,260 $ 4,237,075 $ 2,293,876 (1) Includes unrealized loss (gain) on interest rate swaps of $553,490 and $6,235 for the three months ended June 30, 2019 and 2018, respectively, and $874,016 and $(220,571) for the six months ended June 30, 2019 and 2018, respectively, (see Note 7). Accrued interest payable, net of $4,208 and $5,950 at June 30, 2019 and December 31, 2018, respectively, represents the unsettled portion of the interest rate swaps from the last settlement period through the respective balance sheet dates.	The following is a reconciliation of the components of interest expense: Year Ended December 31, 2018 2017 Mortgage notes payable: Interest expense $ 4,065,686 $ 1,191,351 Amortization of deferred financing costs 897,535 168,546 Loss (gain) on interest rate swaps (1) 261,198 (1,668 ) Unsecured credit facility: Interest expense 323,409 248,637 Amortization of deferred financing costs 30,000 1,118 Forfeited loan fee — 30,000 Total interest expense $ 5,577,828 $ 1,637,984 (1) Includes unrealized loss (gain) on interest rate swaps of $157,613 and $(7,899) for years ended December 31, 2018 and 2017, respectively, (see Note 7). Accrued interest payable of $7,649 and $6,231 at December 31, 2018 and 2017, respectively, represents the unsettled portion of the interest rate swaps for the period from origination of the interest rate swap through the respective balance sheet dates.

INTEREST RATE SWAP DERIVATIVE_3

INTEREST RATE SWAP DERIVATIVES (FY) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amounts of Derivative Instruments	The following table summarizes the notional amount and other information related to the Company’s interest rate swaps: June 30, 2019 December 31, 2018 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,212,600 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.71 % 4.6 years 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of June 30, 2019 was $24,967,299. (ii) The reference rate as of June 30, 2019. (iii) The reference rate as of December 31, 2018.	The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of December 31, 2018 and 2017. 2018 2017 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years 2 $ 10,620,000 One-month LIBOR + applicable spread/Fixed at 4.05%-4.34% 4.21 % 7.2 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of December 31, 2018 was $24,936,799. (ii) The reference rate was December 31, 2018. (iii) The reference rate was December 31, 2017.
Fair Value of Derivative Instruments	The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the condensed consolidated balance sheets: June 30, 2019 December 31, 2018 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value — $ — 2 $ 151,215 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 4 $ (1,023,730 ) 2 $ (300,929 )	The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the consolidated balance sheets: December 31, 2018 December 31, 2017 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value 2 $ 151,215 2 $ 7,899 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 2 $ (300,929 ) — $ —

RELATED PARTY TRANSACTIONS (F_2

RELATED PARTY TRANSACTIONS (FY) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Costs	Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the three and six months ended June 30, 2019 and 2018: Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 June 30, 2018 December 31, 2018 Incurred Incurred Receivable Payable Incurred Incurred Receivable Payable Expensed: Asset management fees (1) $ 680,019 $ 1,360,037 $ — $ — $ 477,915 $ 879,230 $ — $ — Subordinated participation fees — — — — — — — 839,050 Operating expense reimbursements (2) 132,000 264,000 — — — — — — Fees to affiliates 812,019 1,624,037 477,915 879,230 Property management fees* 56,122 112,072 — — 19,212 32,151 — 96,792 Directors and officers insurance and other reimbursements** 70,785 133,675 — — 36,083 52,716 — 30,164 Expense reimbursements (from) to Sponsor (3) (148,233 ) (236,232 ) 4,236 2,313 (293,939 ) (653,453 ) 16,838 — Capitalized: Acquisition fees — — — — 496,358 952,358 — — Financing coordination fees — 63,500 — — — 209,550 — — Reimbursable organizational and offering expenses (4) — — — 27,969 386,053 816,297 — 13,168 $ 4,236 $ 30,282 $ 16,838 $ 979,174 * Property management fees are classified within property operating expenses in the condensed consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses in the condensed consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the three and six months ended June 30, 2019 and 2018, the Advisor did not waive any of the asset management fees. In addition to amounts presented in this table, the Company also incurred asset management fees to the Advisor of $47,977 and $47,977 related to the TIC Interest during the three months ended June 30, 2019 and 2018, respectively, which amounts are reflected as a reduction of income recognized from investments in unconsolidated entities and $95,953 and $95,953 during the six months ended June 30, 2019 and 2018, respectively (see Note 5). (2) Reflects reimbursement for personnel and overhead costs billed by the Advisor in compliance with the 2%/25% Limitation. (3) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See " Investor Relations Payroll Expense Reimbursement from Sponsor" . (4) As of June 30, 2019, the Sponsor had incurred $8,815,104 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds resulting in a total reimbursement amount of $5,120,687 as of June 30, 2019.	Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the years ended December 31, 2018 and 2017, respectively: Year Ended December 31, 2018 December 31, 2018 Year Ended December 31, 2017 December 31, 2017 Incurred Receivable Payable Incurred Receivable Payable Expensed: Asset management fees (1) $ 2,004,760 $ — $ — $ 872,281 $ — $ 567,661 Subordinated participation fees 839,050 — 839,050 315,802 — 315,802 Fees to affiliates 2,843,810 — — 1,188,083 — — Property management fees* 174,529 — 96,792 20,251 — 7,969 Directors and officers insurance and other reimbursements ** 128,512 — 30,164 — — — Expense reimbursements (from) to Sponsor (2) (1,136,469 ) 16,838 — (2,324,598 ) 34,194 — Waiver of asset management fees (1) — — — (143,540 ) — — Capitalized: Acquisition fees 2,752,339 — — 3,661,684 (5) — — Financing coordination fees 262,050 — — 326,600 — — Reimbursable organizational and offering expenses (3) 1,503,062 — 13,168 1,986,147 — 15,945 Other: Due to REIT I — — — 48,418 (4) — — Payable to TIC — — — 363,168 (6) — — $ 16,838 $ 979,174 $ 34,194 $ 907,377 * Property management fees are classified within property operating expenses on the consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses on the consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the years ended December 31, 2018 and 2017, the Advisor waived $0 and $143,540, respectively, of asset management fees, which are not subject to future recoupment by the Advisor. (2) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See “ Investor Relations Payroll Expense Reimbursement from Sponsor” . (3) As of December 31, 2018, the Sponsor had incurred $8,442,205 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds. (4) This amount was the result of a bank error. The Company incurred $48,418 of interest on its unsecured credit facility for the year ended December 31, 2017. The monthly interest payment that was due on the unsecured credit facility was withdrawn from REIT I’s bank account rather than from the Company’s bank account. This amount was repaid in 2017. (5) Includes $626,073 relating to the Santa Clara property. See Related Party Transactions with Unconsolidated Entities (6) After closing the acquisition of the Santa Clara property, the Company received $363,168 from the title company. These proceeds represent cash received by the title company in excess of the amounts needed to acquire the property. At December 31, 2017, these proceeds were paid in full to the TIC which owns the property. The Company’s portion of Advisor fees paid relating to the Santa Clara property for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Acquisition fees $ — $ 626,073 Asset management fees 191,907 49,035 Total $ 191,907 $ 675,108 The Company’s portion of Advisor fees paid relating to REIT I for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Expensed: Asset management fees $ 38,903 $ 33,376 Other 32,274 20,972 Capitalized: Acquisition fees — 29,536 Financing coordination fees — 4,407 Total $ 71,177 $ 88,291

CONDENSED CONSOLIDATED BALANC_4

CONDENSED CONSOLIDATED BALANCE SHEETS DETAILS (Q2) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Disclosure Text Block Supplement [Abstract]
Consolidated Balance Sheets	Tenant receivables consisted of the following: June 30, 2019 December 31, 2018 Straight-line rent $ 2,915,852 $ 2,231,966 Tenant rent 76 312,171 Tenant reimbursements 1,065,650 1,019,355 Tenant other 164,761 95,622 Total $ 4,146,339 $ 3,659,114 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: June 30, 2019 December 31, 2018 Accounts payable $ 470,188 $ 227,793 Accrued expenses 1,612,897 1,421,197 Accrued dividends 896,291 749,170 Accrued interest payable 429,256 445,481 Unearned rent 749,865 827,338 Deferred commission payable 1,350 1,650 Tenant improvement obligation 104,385 3,492,084 Total $ 4,264,232 $ 7,164,713	Tenant receivables consisted of the following: December 31, 2018 2017 Straight-line rent $ 2,231,966 $ 995,822 Tenant rent 312,171 27,460 Tenant disbursements 1,019,355 239,813 Tenant other 95,622 — Total $ 3,659,114 $ 1,263,095 Accounts Payable, Accrued and Other Liabilities Accounts payable, accrued and other liabilities were comprised of the following: December 31, 2018 2017 Accounts payable $ 227,793 $ 244,430 Accrued expenses 1,421,197 568,881 Accrued dividends 749,170 2,427 Accrued interest payable 445,481 186,841 Unearned rent 827,338 548,266 Deferred commission payable 1,650 2,250 Lease incentive obligation 3,492,084 858,389 Total $ 7,164,713 $ 2,411,484

REAL ESTATE INVESTMENTS, NET _2

REAL ESTATE INVESTMENTS, NET (Q2) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
Properties	The following table provides summary information regarding the Company’s real estate investment portfolio as of June 30, 2019: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Health Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,516,731 ) $ 9,392,753 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (997,540 ) 3,855,831 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (105,640 ) 1,292,474 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (135,196 ) 1,549,233 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (101,501 ) 1,205,089 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (97,316 ) 1,188,719 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (99,877 ) 1,113,852 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (97,041 ) 1,091,453 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,246,883 ) 8,356,897 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,794,441 ) 11,929,749 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (497,611 ) 5,810,758 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (734,877 ) 12,443,411 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (638,485 ) 10,437,230 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (591,123 ) 8,038,975 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (465,575 ) 7,078,614 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (335,108 ) 6,088,990 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (578,086 ) 12,276,062 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (1,070,027 ) 26,287,873 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (1,608,573 ) 15,510,607 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (960,095 ) 15,042,394 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (428,401 ) 12,229,909 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (235,372 ) 7,454,552 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (308,484 ) 10,534,423 Costco Issaquah, WA 12/20/2018 Office 27,263,632 2,765,136 (702,672 ) 29,326,096 $ 217,494,190 $ 17,717,819 $ (15,346,655 ) $ 219,865,354	The following table provides summary information regarding the Company’s real estate portfolio as of December 31, 2018: Property Location Acquisition Date Property Type Land, Buildings and Improvements Tenant Origination and Absorption Costs Accumulated Depreciation and Amortization Total Investment in Real Estate Property, Net Accredo Orlando, FL 6/15/2016 Office $ 9,855,847 $ 1,053,637 $ (1,265,678 ) $ 9,643,806 Walgreens Stockbridge, GA 6/21/2016 Retail 4,147,948 705,423 (833,561 ) 4,019,810 Dollar General Litchfield, ME 11/4/2016 Retail 1,281,812 116,302 (85,518 ) 1,312,596 Dollar General Wilton, ME 11/4/2016 Retail 1,543,776 140,653 (109,445 ) 1,574,984 Dollar General Thompsontown, PA 11/4/2016 Retail 1,199,860 106,730 (82,167 ) 1,224,423 Dollar General Mt. Gilead, OH 11/4/2016 Retail 1,174,188 111,847 (78,780 ) 1,207,255 Dollar General Lakeside, OH 11/4/2016 Retail 1,112,872 100,857 (80,853 ) 1,132,876 Dollar General Castalia, OH 11/4/2016 Retail 1,102,086 86,408 (78,557 ) 1,109,937 Dana Cedar Park, TX 12/27/2016 Industrial 8,392,906 1,210,874 (1,001,594 ) 8,602,186 Northrop Grumman Melbourne, FL 3/7/2017 Office 12,382,991 1,341,199 (1,402,927 ) 12,321,263 exp US Services Maitland, FL 3/27/2017 Office 5,920,121 388,248 (389,042 ) 5,919,327 Harley Bedford, TX 4/13/2017 Retail 13,178,288 — (562,523 ) 12,615,765 Wyndham Summerlin, NV 6/22/2017 Office 10,406,483 669,232 (461,240 ) 10,614,475 Williams Sonoma Summerlin, NV 6/22/2017 Office 8,079,612 550,486 (435,346 ) 8,194,752 Omnicare Richmond, VA 7/20/2017 Industrial 7,262,747 281,442 (343,275 ) 7,200,914 EMCOR Cincinnati, OH 8/29/2017 Office 5,960,610 463,488 (245,453 ) 6,178,645 Husqvarna Charlotte, NC 11/30/2017 Industrial 11,840,200 1,013,948 (399,615 ) 12,454,533 AvAir Chandler, AZ 12/28/2017 Industrial 27,357,900 — (722,991 ) 26,634,909 3M DeKalb, IL 3/29/2018 Industrial 14,762,819 2,356,361 (985,899 ) 16,133,281 Cummins Nashville, TN 4/4/2018 Office 14,465,491 1,536,998 (562,814 ) 15,439,675 Northrop Grumman Parcel Melbourne, FL 6/21/2018 Land 329,410 — — 329,410 24 Hour Fitness Las Vegas, NV 7/27/2018 Retail 11,453,337 1,204,973 (204,887 ) 12,453,423 Texas Health Dallas, TX 9/13/2018 Office 6,976,703 713,221 (86,716 ) 7,603,208 Bon Secours Richmond, VA 10/31/2018 Office 10,042,551 800,356 (90,731 ) 10,752,176 Costco Issaquah, WA 12/20/2018 Retail 27,263,632 2,765,136 (54,052 ) 29,974,716 $ 217,494,190 $ 17,717,819 $ (10,563,664 ) $ 224,648,345
Acquisitions	During the six months ended June 30, 2018, the Company acquired the following properties: Property Acquisition Date Land Buildings and Improvements Tenant Origination and Absorption Costs Below- Market Lease Intangibles Total 3M 3/29/2018 $ 758,780 $ 14,004,039 $ 2,356,361 $ (1,417,483 ) $ 15,701,697 Cummins 4/4/2018 3,347,959 11,117,532 1,536,998 — 16,002,489 Northrop Grumman Parcel 6/21/2018 329,410 — — — 329,410 $ 4,436,149 $ 25,121,571 $ 3,893,359 $ (1,417,483 ) $ 32,033,596	During the year ended December 31, 2018, the Company acquired the following properties: Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total 3M $ 758,780 $ 14,004,039 $ 2,356,361 $ — $ (1,417,483 ) $ 15,701,697 Cummins 3,347,959 11,117,531 1,536,998 — — 16,002,488 Northrop Grumman Parcel 329,410 — — — — 329,410 24 Hour Fitness 3,121,985 8,331,352 1,204,974 — — 12,658,311 Texas Health 1,827,914 5,148,789 713,221 — — 7,689,924 Bon Secours 1,658,659 8,383,892 800,356 — — 10,842,907 Costco 8,202,915 19,060,717 2,765,136 — — 30,028,768 $ 19,247,622 $ 66,046,320 $ 9,377,046 $ — $ (1,417,483 ) $ 93,253,505 During the year ended December 31, 2017, the Company acquired the following properties. Property Land Buildings and Improvements Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Total Northrop Grumman $ 1,191,024 $ 11,191,967 $ 1,341,199 $ — $ — $ 13,724,190 exp US Services 785,801 5,134,320 388,248 616,486 — 6,924,855 Harley 1,145,196 12,033,092 — — — 13,178,288 Wyndham 4,144,069 5,303,201 669,232 — — 10,116,502 Williams Sonoma 3,546,744 3,478,337 550,486 — (364,555 ) 7,211,012 Omnicare 800,772 6,242,156 281,442 — — 7,324,370 EMCOR 427,589 5,533,021 463,488 — (285,562 ) 6,138,536 Husqvarna 974,663 10,866,481 1,013,948 — (852,044 ) 12,003,048 AvAir 3,493,673 23,859,451 — — — 27,353,124 $ 16,509,531 $ 83,642,026 $ 4,708,043 $ 616,486 $ (1,502,161 ) $ 103,973,925
Purchase Price	Purchase price $ 32,033,596 Acquisition fees to affiliate (930,000 ) Cash paid for acquisition of real estate investments $ 31,103,596	Purchase price and other acquisition costs $ 93,253,505 Acquisition fees to affiliate (2,702,043 ) Acquisition of real estate before financing $ 90,551,462 Purchase price and other acquisition costs $ 103,973,925 Purchase deposits applied (500,000 ) Acquisition fees to affiliate (3,015,057 ) Acquisition of real estate before financing $ 100,458,868
Acquisition Fees	The capitalized acquisition fees paid to the Advisor for properties acquired during the six months ended June 30, 2018 are as follows: Property Amount 3M $ 456,000 Cummins 465,000 Northrop Grumman Parcel 9,000 Total $ 930,000
Lease Expiration Date	The non-cancelable lease terms of the properties acquired during the six months ended June 30, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023	The noncancellable lease terms of the properties acquired during the year ended December 31, 2018 are as follows: Property Lease Expiration 3M 7/31/2022 Cummins 2/28/2023 24 Hour Fitness 3/31/2030 Texas Health 12/31/2025 Bon Secours 8/31/2026 Costco 7/31/2025 (1) (1) The tenant’s right to cancel the lease on July 31, 2023 was not determined to be probable for financial accounting purposes. The noncancellable lease terms of the properties acquired during the year ended December 31, 2017 are as follows: Property Lease Expiration Northrop Grumman 5/31/2021 exp US Services 11/30/2026 Harley 4/12/2032 Wyndham 2/28/2025 Williams Sonoma 10/31/2022 Omnicare 5/31/2026 EMCOR 2/28/2027 Husqvarna 6/30/2027(1) AvAir 12/31/2032 (1) The tenant’s right to cancel lease on June 30, 2025 was not determined to be probable for financial accounting purposes.
Rental Payments for Operating Leases	As of June 30, 2019, the future minimum contractual rent payments due to the Company under the Company’s non-cancelable operating leases, excluding any renewal periods, are as follows: July through December 2019 $ 8,838,687 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 2024 12,958,858 Thereafter 46,224,832 $ 131,447,201	As of December 31, 2018, the future minimum contractual rent payments due under the Company’s operating leases, excluding any renewal periods, are as follows: 2019 $ 17,588,378 2020 17,834,035 2021 16,752,518 2022 15,520,338 2023 13,317,933 Thereafter 59,183,690 $ 140,196,892
Revenue Concentration	The Company’s revenue concentration based on tenants representing greater than 10% of total revenues for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue Costco, Issaquah, WA $ 697,522 11.8 % $ — — % AvAir, Chandler, AZ $ 666,774 11.3 % $ 653,374 14.9 % 3M, DeKalb, IL $ — — % $ 506,229 11.5 % Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue Costco, Issaquah, WA $ 1,376,025 11.7 % $ — — % AvAir, Chandler, AZ $ 1,333,549 11.3 % $ 1,289,146 16.4 %
Asset Concentration	As of June 30, 2019 and December 31, 2018, the Company’s portfolio’s asset concentration (greater than 10% of total assets) was as follows: June 30, 2019 December 31, 2018 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets Costco, Issaquah, WA $ 29,326,096 11.7 % $ 29,974,716 11.9 % AvAir, Chandler, AZ $ 26,287,873 10.5 % $ 26,634,909 10.6 %	Asset Concentration The Company’s portfolio asset concentration as of December 31 was as follows (greater than 10% of total assets): 2018 2017 Property and Location Net Carrying Value Percentage of Total Assets Net Carrying Value Percentage of Total Assets AvAir, Chandler, AZ $ 26,634,909 10.6 % $ 27,353,125 17.4 % Costco, Issaquah, WA $ 29,974,716 11.9 % $ — — Revenue Concentration The Company’s revenue concentration based on tenants representing greater than 10% of total revenues for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 Property and Location Revenue Percentage of Total Revenue Revenue Percentage of Total Revenue AvAir, Chandler, AZ $ 2,670,159 14.8 % $ 2,100,000 19.9 % Northrop Grumman, Melbourne, FL $ — — $ 1,162,274 11.0 %
Intangible Assets	As of June 30, 2019, the Company’s lease intangibles were as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) Accumulated amortization (4,569,358 ) (247,390 ) 713,067 Net amount $ 13,148,461 $ 535,725 $ (2,358,186 )	As of December 31, 2018 and 2017, the Company’s intangible assets were as follows: 2018 2017 Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Tenant Origination and Absorption Costs Above- Market Lease Intangibles Below- Market Lease Intangibles Cost $ 17,717,819 $ 783,115 $ (3,071,253 ) $ 8,340,774 $ 783,115 $ (1,653,771 ) Accumulated amortization (3,173,254 ) (198,867 ) 475,871 (1,192,318 ) (101,822 ) 69,542 Net amount $ 14,544,565 $ 584,248 $ (2,595,382 ) $ 7,148,456 $ 681,293 $ (1,584,229 )
Intangible Assets Amortization	The intangible assets acquired in connection with these acquisitions have a weighted average amortization period of approximately 7.4 years as of June 30, 2019. The amortization of intangible assets over the next five years is expected to be as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles July through December 2019 $ 1,396,105 $ 48,524 $ (237,195 ) 2020 2,792,209 97,045 (474,391 ) 2021 2,375,949 78,994 (474,391 ) 2022 1,839,880 63,719 (306,829 ) 2023 1,214,116 63,719 (78,369 ) 2024 1,066,544 63,719 (67,420 ) Thereafter 2,463,658 120,005 (719,591 ) $ 13,148,461 $ 535,725 $ (2,358,186 ) Weighted-average remaining amortization period 7.0 years 6.8 years 9.7 years	As of December 31, 2018, amortization of intangible assets over the next five years is expected to be as follows: Tenant Origination and Absorption Costs Above-Market Lease Intangibles Below-Market Lease Intangibles 2019 $ 2,792,209 $ 97,045 $ 474,391 2020 2,792,209 97,045 474,391 2021 2,375,950 78,994 474,391 2022 1,839,880 63,720 306,829 2023 1,214,116 63,719 78,370 Thereafter 3,530,201 183,725 787,010 $ 14,544,565 $ 584,248 $ 2,595,382 Weighted-Average Remaining Amortization Period 7.2 years 7.2 years 9.8 years

INVESTMENTS IN UNCONSOLIDATED_4

INVESTMENTS IN UNCONSOLIDATED ENTITIES (Q2) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Investments	The Company’s investments in unconsolidated entities are as follows: June 30, 2019 December 31, 2018 TIC Interest $ 10,627,777 $ 10,749,332 REIT I 3,359,296 3,526,483 $ 13,987,073 $ 14,275,815	The Company’s investments in unconsolidated entities are as follows: December 31, 2018 2017 The TIC Interest (1) $ 10,749,332 $ 11,103,547 Rich Uncles Real Estate Investment Trust I (“REIT I”) 3,526,483 3,420,475 $ 14,275,815 $ 14,524,022 (1) The Company’s investment includes $626,073 of acquisition fees paid to affiliate (see Note 8).
Entities Equity in Earnings	The Company’s income from investments in unconsolidated entities, net is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 TIC Interest $ 71,703 $ 70,907 $ 152,063 $ 120,687 REIT I (15,748 ) (32,301 ) (22,075 ) (27,202 ) $ 55,955 $ 38,606 $ 129,988 $ 93,485	The Company’s income (loss) from investments in unconsolidated entities is as follows: Years Ended December 31, 2018 2017 The TIC Interest $ 269,191 $ 30,038 REIT I (43,167 ) 169,195 $ 226,024 $ 199,233
Summarized Financial Information	The following is summarized financial information for the Santa Clara property: June 30, 2019 December 31, 2018 Assets: Real estate investments, net $ 31,172,028 $ 31,668,300 Cash and cash equivalents 523,176 466,379 Other assets 183,352 117,075 Total assets $ 31,878,556 $ 32,251,754 Liabilities: Mortgage notes payable $ 13,871,312 $ 13,994,844 Below-market lease, net 3,028,569 3,103,778 Other liabilities 53,779 61,188 Total liabilities 16,953,660 17,159,810 Total equity 14,924,896 15,091,944 Total liabilities and equity $ 31,878,556 $ 32,251,754 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total revenues $ 693,571 $ 713,218 $ 1,359,992 $ 1,322,012 Expenses: Interest expense 143,367 145,960 285,886 290,985 Depreciation and amortization 248,136 248,136 496,272 495,349 Other expenses 203,452 223,358 368,697 369,694 Total expenses 594,955 617,454 1,150,855 1,156,028 Net income $ 98,616 $ 95,764 $ 209,137 $ 165,984
Rich Uncles Real Estate Investment Trust 1
Summarized Financial Information	The following is summarized financial information for REIT I: June 30, 2019 December 31, 2018 Assets: Real estate investments, net $ 120,644,631 $ 125,075,537 Cash and cash equivalents and restricted cash 3,258,934 3,376,145 Other assets 2,647,717 3,070,475 Total assets $ 126,551,282 $ 131,522,157 Liabilities: Mortgage notes payable, net $ 62,033,836 $ 61,446,068 Below-market lease intangibles, net 2,675,761 3,105,843 Other liabilities 1,535,864 3,359,618 Total liabilities 66,245,461 67,911,529 Redeemable common stock — 163,572 Total shareholders’ equity 60,305,821 63,447,056 Total liabilities and shareholders’ equity $ 126,551,282 $ 131,522,157 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total revenues $ 3,277,710 $ 3,365,163 $ 6,566,354 $ 6,596,381 Expenses: Depreciation and amortization 1,444,354 1,409,093 2,886,414 2,857,337 Interest expense 982,223 631,838 1,845,396 1,116,711 Impairment of real estate investment property (1) — 862,190 — 862,190 Other expenses 1,175,029 1,206,883 2,403,892 2,386,920 Total expenses 3,601,606 4,110,004 7,135,702 7,223,158 Other income: Other income (2) — — 113,773 — Net loss $ (323,896 ) $ (744,841 ) $ (455,575 ) $ (626,777 ) (1) During the three months ended June 30, 2018, REIT I recorded an impairment charge of $862,190 related to its investment in a property in Antioch, California due to the expiration of the tenant’s lease term at December 31, 2017 and REIT I’s subsequent difficulties encountered during the first half of 2018 in its efforts to re-lease the property at acceptable rent rates and without incurring substantial potential tenant improvement costs. The impairment charge was less than 1.0% of REIT I’s total investments in real estate property and the book value of the property after the impairment charge was less than 2.0% of REIT I’s total investments in real estate property as of June 30, 2018. (2) The gain on sale of real estate investment property of $113,773 during the six months ended June 30, 2019 was due to the higher mortgage loan balance and related interest payable of the property in Antioch, California compared to its net book value when it was relinquished in a foreclosure sale on March 13, 2019.	The following is summarized financial information for REIT I: December 31, 2018 2017 Assets: Real estate investments, net $ 125,075,537 $ 131,166,670 Cash and cash equivalents and restricted cash 3,376,145 6,027,807 Other assets 3,070,475 2,658,777 Total assets $ 131,522,157 $ 139,853,254 Liabilities: Mortgage notes payable, net $ 61,446,068 $ 62,277,387 Below-market lease, net 3,105,843 3,966,008 Other liabilities 3,359,618 2,937,247 Total liabilities 67,911,529 69,180,642 Redeemable common stock 163,572 586,242 Total shareholders' equity 63,447,056 70,086,370 Total liabilities, redeemable common stock and stockholders' equity $ 131,522,157 $ 139,853,254 Years Ended December 31, 2018 2017 Total revenue $ 13,166,631 $ 12,837,755 Expenses: Depreciation and amortization 5,783,643 5,654,451 Interest expense 2,813,430 2,503,810 Other expense 4,603,963 4,033,242 Impairment of real estate investment property 862,190 — Total expenses 14,063,226 12,191,503 Other income: Gain on sale of real estate investment property, net — 747,957 Other income — 838 Total other income — 748,795 Net (loss) income $ (896,595 ) $ 1,395,047

DEBT (Q2) (Tables)

DEBT (Q2) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	As of June 30, 2019 and December 31, 2018, the Company’s mortgage notes payable consisted of the following: Collateral Principal Amount June 30, 2019 Principal Amount December 31, 2018 Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo/Walgreen properties $ 6,925,661 $ 6,996,469 3.95 % 3.95 % 7/1/2021 Dana property 4,592,001 4,632,398 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,852,196 3,885,334 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,769,600 5,820,600 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,573,200 4,615,800 One-month LIBOR+2.05% 4.05 % 6/5/2022 Omnicare property 4,311,660 4,349,963 4.36 % 4.36 % 5/1/2026 Harley property 6,808,386 6,868,254 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,738,558 5,809,367 4.40 % 4.40 % 3/2/2021 EMCOR property 2,887,126 2,911,577 4.35 % 4.35 % 12/1/2024 exp US Services property 3,416,049 3,446,493 (3 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 6,379,182 (4 ) 4.60 % 2/20/2028 AvAir property 14,575,000 14,575,000 (5 ) 4.84 % 3/27/2028 3M property 8,350,000 8,360,000 One-month LIBOR+2.25% 5.09 % 3/29/2023 Cummins property 8,519,800 8,530,000 One-month LIBOR+2.25% 5.16 % 4/4/2023 24 Hour Fitness property (6) 6,333,666 8,900,000 4.64 % 4.64 % 4/1/2049 Texas Health property (7) — 4,842,500 One-month LIBOR+4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 5,250,000 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 18,850,000 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 117,132,085 125,022,937 Less unamortized deferred financing costs (2,099,104 ) (2,313,629 ) $ 115,032,981 $ 122,709,308 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of June 30, 2019. Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 consisting of the contractual interest rate and the effect of the interest rate swap, if applicable. For further information regarding the Company’s derivative instruments, see Note 7. (2) The loans on each of the Williams Sonoma and Wyndham properties (collectively, the "Property") located in Summerlin, Nevada were originated by Nevada State Bank ("Bank"). The loans are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the loans, is an event of default under the terms of both loans. The value of the Property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the loan to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the loans so that the loan to value ratio is no more than 60%. (3) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (4) The initial contractual interest rate is 4.60% for the first five years and starting February 21, 2023, the interest rate is the greater of 4.60% or five-year Treasury Constant Maturity ("TCM") plus 2.45% for the second five years. (5) The initial contractual interest rate is 4.84% for the first five-years and starting March 28, 2023, the interest rate is the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (6) The loan refinancing on March 7, 2019 reduced the principal amount outstanding and the rate and extended the maturity. The interest rate for the note payable outstanding as of June 30, 2019 adjusts in the 133rd, 253rd and 313th months. (7) The loan was fully repaid on the March 13, 2019 maturity date.	As of December 31, 2018 and 2017, the Company’s mortgage notes payable consisted of the following: Collateral 2018 Principal Balance 2017 Principal Balance Contractual Interest Rate (1) Effective Interest Rate (1) Loan Maturity Accredo Health/Walgreen properties $ 6,996,469 $ 7,133,966 3.95 % 3.95 % 7/1/2021 Dana property 4,632,398 4,709,889 4.56 % 4.56 % 4/1/2023 Six Dollar General properties 3,885,334 3,951,846 4.69 % 4.69 % 4/1/2022 Wyndham property (2) 5,820,600 5,920,800 One-month LIBOR+2.05% 4.34 % 6/5/2027 Williams Sonoma property (2) 4,615,800 4,699,200 One-month LIBOR+2.05% 4.34 % 6/5/2022 Omnicare property 4,349,963 4,423,574 4.36 % 4.36 % 5/1/2026 Harley property 6,868,254 6,983,418 4.25 % 4.25 % 9/1/2024 Northrop Grumman property 5,809,367 5,945,655 4.40 % 4.40 % 3/2/2021 EMCOR property 2,911,577 2,955,000 4.35 % 4.35 % 12/1/2024 exp US Services property 3,446,493 3,505,061 (4 ) 4.25 % 11/17/2024 Husqvarna property 6,379,182 — (5 ) 4.60 % 2/20/2028 AvAir property (3) 14,575,000 12,000,000 (6 ) 4.84 % 3/27/2028 3M property 8,360,000 — One-month LIBOR +2.25% 5.09 % 3/29/2023 Cummins property 8,530,000 — One-month LIBOR +2.25% 5.16 % 4/4/2023 24 Hour Fitness property 8,900,000 — One-month LIBOR +4.30% 6.56 % 3/17/2019 Texas Health property 4,842,500 — One-month LIBOR +4.30% 6.56 % 3/13/2019 Bon Secours property 5,250,000 — 5.41 % 5.41 % 9/15/2026 Costco property 18,850,000 — 4.85 % 4.85 % 1/1/2030 Total mortgage notes payable 125,022,937 62,228,409 Less unamortized deferred financing costs (2,313,629 ) (1,741,106 ) Mortgage notes payable, net $ 122,709,308 $ 60,487,303 (1) Contractual interest rate represents the interest rate in effect under the mortgage note payable as of December 31, 2018. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2018 (consisting of the contractual interest rate and the effect of the interest rate swap, if applicable). For further information regarding the Company’s derivative instruments (see Note 7). (2) The notes on each of the Williams Sonoma and Wyndham properties (collectively, the “Property”) located in Summerlin, Nevada were originated by Nevada State Bank (“Bank”). The notes are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the notes is an event of default under the terms of both notes. The value of the property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the note to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the notes so that the note to value ratio is no more than 60%. (3) On March 27, 2018, the Company refinanced the mortgage note payable as of December 31, 2017 with a new note for $14,575,000 through a nonaffiliated lender. The note is secured by the AvAir property and it matures on March 27, 2028. (4) The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%. (5) The initial contractual interest rate is 4.60% for the first five years and the greater of 4.60% or five-year Treasury Constant Maturity (“TCM”) plus 2.45% for the second five years. (6) The initial contractual interest rate for the note payable outstanding as of December 31, 2018 is 4.84% for the first five-years and the greater of 4.60% or five-year TCM plus 2.45% for the second five-years. (7) On March 7, 2019, the Company refinanced the mortgage note payable as of March 17, 2019 with a new note for $6,350,000 through a nonaffiliated lender. The new note is secured by the 24 Hour Fitness property and it matures on March 7, 2049. (8) On March 13, 2019, the Company repaid this mortgage note payable with borrowings under its unsecured line of credit.
Mortgage Loan Payable	The following were the face value, carrying amount and fair value of the Company’s mortgage notes payable (Level 3 measurement): June 30, 2019 December 31, 2018 Face Value Carrying Value Fair Value Face value Carrying Value Fair Value Mortgage notes payable $ 117,132,085 $ 115,032,981 $ 123,128,492 $ 125,022,937 $ 122,709,308 $ 123,821,490
Maturities of Long-term Debt	The following summarizes the future principal repayments of the Company’s mortgage notes payable and New Credit Facility as of June 30, 2019: Mortgage Note Payable New Credit Facility Total July through December 2019 $ 637,333 $ — $ 637,333 2020 1,523,095 — 1,523,095 2021 8,223,343 — 8,223,343 2022 14,617,593 — 14,617,593 2023 21,247,852 — 21,247,852 2024 12,966,778 — 12,966,778 Thereafter 57,916,091 — 57,916,091 Total principal 117,132,085 — 117,132,085 Less: Deferred financing costs, net (2,099,104 ) — (2,099,104 ) Net principal $ 115,032,981 $ — $ 115,032,981	The following summarizes the future principal repayments of the Company’s mortgage notes payable and Unsecured Credit Facility as of December 31, 2018: Mortgage Notes Payable Unsecured Credit Facility Total 2019 $ 14,852,271 $ 9,000,000 (1) $ 23,852,271 2020 1,435,312 — 1,435,312 2021 8,130,359 — 8,130,359 2022 14,516,126 — 14,516,126 2023 21,115,026 — 21,115,026 Thereafter 64,973,843 — 64,973,843 Total principal 125,022,937 9,000,000 134,022,937 Deferred financing costs, net (2,313,629 ) (2,000 ) (2,315,629 ) Total $ 122,709,308 $ 8,998,000 $ 131,707,308 (1) The maturity date of the outstanding borrowings under the Company's Unsecured Credit Facility was extended to April 30, 2019, as discussed in Note 10.
Interest Expenses	The following is a reconciliation of the components of interest expense for the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Mortgage notes payable: Interest expense $ 1,368,662 $ 996,756 $ 2,845,158 $ 1,822,477 Amortization of deferred financing costs 109,071 98,648 379,593 505,534 Loss (gain) on interest rate swaps (1) 562,571 15,877 890,385 (213,389 ) Unsecured credit facility: Interest expense 27,918 83,408 111,436 166,397 Amortization of deferred financing costs 8,503 8,571 10,503 12,857 Total interest expense $ 2,076,725 $ 1,203,260 $ 4,237,075 $ 2,293,876 (1) Includes unrealized loss (gain) on interest rate swaps of $553,490 and $6,235 for the three months ended June 30, 2019 and 2018, respectively, and $874,016 and $(220,571) for the six months ended June 30, 2019 and 2018, respectively, (see Note 7). Accrued interest payable, net of $4,208 and $5,950 at June 30, 2019 and December 31, 2018, respectively, represents the unsettled portion of the interest rate swaps from the last settlement period through the respective balance sheet dates.	The following is a reconciliation of the components of interest expense: Year Ended December 31, 2018 2017 Mortgage notes payable: Interest expense $ 4,065,686 $ 1,191,351 Amortization of deferred financing costs 897,535 168,546 Loss (gain) on interest rate swaps (1) 261,198 (1,668 ) Unsecured credit facility: Interest expense 323,409 248,637 Amortization of deferred financing costs 30,000 1,118 Forfeited loan fee — 30,000 Total interest expense $ 5,577,828 $ 1,637,984 (1) Includes unrealized loss (gain) on interest rate swaps of $157,613 and $(7,899) for years ended December 31, 2018 and 2017, respectively, (see Note 7). Accrued interest payable of $7,649 and $6,231 at December 31, 2018 and 2017, respectively, represents the unsettled portion of the interest rate swaps for the period from origination of the interest rate swap through the respective balance sheet dates.

INTEREST RATE SWAP DERIVATIVE_4

INTEREST RATE SWAP DERIVATIVES (Q2) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	The following table summarizes the notional amount and other information related to the Company’s interest rate swaps: June 30, 2019 December 31, 2018 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,212,600 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.71 % 4.6 years 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of June 30, 2019 was $24,967,299. (ii) The reference rate as of June 30, 2019. (iii) The reference rate as of December 31, 2018.	The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of December 31, 2018 and 2017. 2018 2017 Derivative Instruments Number of Instruments Notional Amount (i) Reference Rate (ii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Number of Instruments Notional Amount (i) Reference Rate (iii) Weighted Average Fixed Pay Rate Weighted Average Remaining Term Interest Rate Swap Derivatives 4 $ 27,346,400 One-month LIBOR + applicable spread/Fixed at 4.05%-5.16% 4.73 % 5.1 years 2 $ 10,620,000 One-month LIBOR + applicable spread/Fixed at 4.05%-4.34% 4.21 % 7.2 years (i) The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amount (outstanding principal balance at the maturity date) as of December 31, 2018 was $24,936,799. (ii) The reference rate was December 31, 2018. (iii) The reference rate was December 31, 2017.
Statement of Financial Position	The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the condensed consolidated balance sheets: June 30, 2019 December 31, 2018 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value — $ — 2 $ 151,215 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 4 $ (1,023,730 ) 2 $ (300,929 )	The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the consolidated balance sheets: December 31, 2018 December 31, 2017 Derivative Instrument Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Interest Rate Swaps Asset - Interest rate swap derivatives, at fair value 2 $ 151,215 2 $ 7,899 Interest Rate Swaps Liability - Interest rate swap derivatives, at fair value 2 $ (300,929 ) — $ —

RELATED PARTY TRANSACTIONS (Q_2

RELATED PARTY TRANSACTIONS (Q2) (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the three and six months ended June 30, 2019 and 2018: Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 June 30, 2018 December 31, 2018 Incurred Incurred Receivable Payable Incurred Incurred Receivable Payable Expensed: Asset management fees (1) $ 680,019 $ 1,360,037 $ — $ — $ 477,915 $ 879,230 $ — $ — Subordinated participation fees — — — — — — — 839,050 Operating expense reimbursements (2) 132,000 264,000 — — — — — — Fees to affiliates 812,019 1,624,037 477,915 879,230 Property management fees* 56,122 112,072 — — 19,212 32,151 — 96,792 Directors and officers insurance and other reimbursements** 70,785 133,675 — — 36,083 52,716 — 30,164 Expense reimbursements (from) to Sponsor (3) (148,233 ) (236,232 ) 4,236 2,313 (293,939 ) (653,453 ) 16,838 — Capitalized: Acquisition fees — — — — 496,358 952,358 — — Financing coordination fees — 63,500 — — — 209,550 — — Reimbursable organizational and offering expenses (4) — — — 27,969 386,053 816,297 — 13,168 $ 4,236 $ 30,282 $ 16,838 $ 979,174 * Property management fees are classified within property operating expenses in the condensed consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses in the condensed consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the three and six months ended June 30, 2019 and 2018, the Advisor did not waive any of the asset management fees. In addition to amounts presented in this table, the Company also incurred asset management fees to the Advisor of $47,977 and $47,977 related to the TIC Interest during the three months ended June 30, 2019 and 2018, respectively, which amounts are reflected as a reduction of income recognized from investments in unconsolidated entities and $95,953 and $95,953 during the six months ended June 30, 2019 and 2018, respectively (see Note 5). (2) Reflects reimbursement for personnel and overhead costs billed by the Advisor in compliance with the 2%/25% Limitation. (3) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See " Investor Relations Payroll Expense Reimbursement from Sponsor" . (4) As of June 30, 2019, the Sponsor had incurred $8,815,104 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds resulting in a total reimbursement amount of $5,120,687 as of June 30, 2019.	Summarized below are the related party costs incurred by the Company, including those incurred pursuant to the Advisory Agreement, for the years ended December 31, 2018 and 2017, respectively: Year Ended December 31, 2018 December 31, 2018 Year Ended December 31, 2017 December 31, 2017 Incurred Receivable Payable Incurred Receivable Payable Expensed: Asset management fees (1) $ 2,004,760 $ — $ — $ 872,281 $ — $ 567,661 Subordinated participation fees 839,050 — 839,050 315,802 — 315,802 Fees to affiliates 2,843,810 — — 1,188,083 — — Property management fees* 174,529 — 96,792 20,251 — 7,969 Directors and officers insurance and other reimbursements ** 128,512 — 30,164 — — — Expense reimbursements (from) to Sponsor (2) (1,136,469 ) 16,838 — (2,324,598 ) 34,194 — Waiver of asset management fees (1) — — — (143,540 ) — — Capitalized: Acquisition fees 2,752,339 — — 3,661,684 (5) — — Financing coordination fees 262,050 — — 326,600 — — Reimbursable organizational and offering expenses (3) 1,503,062 — 13,168 1,986,147 — 15,945 Other: Due to REIT I — — — 48,418 (4) — — Payable to TIC — — — 363,168 (6) — — $ 16,838 $ 979,174 $ 34,194 $ 907,377 * Property management fees are classified within property operating expenses on the consolidated statements of operations. ** Directors and officers insurance and other reimbursements are classified within general and administrative expenses on the consolidated statements of operations. (1) To the extent the Advisor elects, in its sole discretion, to defer all or any portion of its monthly asset management fee, the Advisor will be deemed to have waived, not deferred, that portion up to 0.025% of the total investment value of the Company’s assets. For the years ended December 31, 2018 and 2017, the Advisor waived $0 and $143,540, respectively, of asset management fees, which are not subject to future recoupment by the Advisor. (2) Includes payroll costs related to Company employees that answer questions from prospective stockholders. See “ Investor Relations Payroll Expense Reimbursement from Sponsor” . (3) As of December 31, 2018, the Sponsor had incurred $8,442,205 of organizational and offering costs on behalf of the Company. However, the Company is only obligated to reimburse the Sponsor for such organizational and offering expenses to the extent of 3% of gross offering proceeds. (4) This amount was the result of a bank error. The Company incurred $48,418 of interest on its unsecured credit facility for the year ended December 31, 2017. The monthly interest payment that was due on the unsecured credit facility was withdrawn from REIT I’s bank account rather than from the Company’s bank account. This amount was repaid in 2017. (5) Includes $626,073 relating to the Santa Clara property. See Related Party Transactions with Unconsolidated Entities (6) After closing the acquisition of the Santa Clara property, the Company received $363,168 from the title company. These proceeds represent cash received by the title company in excess of the amounts needed to acquire the property. At December 31, 2017, these proceeds were paid in full to the TIC which owns the property. The Company’s portion of Advisor fees paid relating to the Santa Clara property for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Acquisition fees $ — $ 626,073 Asset management fees 191,907 49,035 Total $ 191,907 $ 675,108 The Company’s portion of Advisor fees paid relating to REIT I for the years ended December 31, 2018 and 2017 were as follows: 2018 2017 Expensed: Asset management fees $ 38,903 $ 33,376 Other 32,274 20,972 Capitalized: Acquisition fees — 29,536 Financing coordination fees — 4,407 Total $ 71,177 $ 88,291

BUSINESS AND ORGANIZATION (FY)

BUSINESS AND ORGANIZATION (FY) (Details)	Aug. 11, 2017shares	Dec. 31, 2015$ / sharesshares	Jun. 24, 2015$ / sharesshares	Jul. 31, 2019USD ($)shares	Jun. 30, 2019USD ($)Property$ / sharesshares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)Property$ / sharesshares	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)properties$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016shares	Dec. 31, 2015$ / sharesshares	Jan. 14, 2019$ / shares	Jan. 13, 2019$ / shares	Jan. 11, 2019$ / shares	Jan. 19, 2018$ / shares	Jan. 18, 2018$ / shares	Jul. 15, 2015USD ($)shares
Business And Organization [Line Items]
Issued common stock					450,000,000		450,000,000		450,000,000
Common Stock ( In USD Per Share) | $ / shares									$ 0.001
Preferred Stock, Shares Authorized (In Shares)					50,000,000		50,000,000		50,000,000	50,000,000
Preferred Stock (In USD Per Share) | $ / shares					$ 0.001		$ 0.001		$ 0.001	$ 0.001
Issuance of common stock | $					$ 13,848,287	$ 12,879,345	$ 30,005,491	$ 27,220,462	$ 50,101,989	$ 66,204,898
Number of real estate properties					24		24		24
Net Asset Value (in USD per share) | $ / shares													$ 10.16
Minimum
Business And Organization [Line Items]
Net Asset Value (in USD per share) | $ / shares																$ 10.05
Tenant-in-common | Real Estate Investment
Business And Organization [Line Items]
Ownership (as a percent)					72.70%		72.70%		72.70%
Affiliated REIT | Real Estate Investment
Business And Organization [Line Items]
Ownership (as a percent)					4.80%		4.80%		4.80%
Operating Partnership [Member]
Business And Organization [Line Items]
Ownership Interest (as a percent)							99.00%		99.00%
Ownership Interest ( as a percent)							1.00%		1.00%
Common Class S
Business And Organization [Line Items]
Issued common stock					100,000,000		100,000,000
Common Stock, Shares Authorized (In Shares)	100,000,000				100,000,000		100,000,000		100,000,000	100,000,000								10,000,000
Common Stock ( In USD Per Share) | $ / shares					$ 0.001		$ 0.001		$ 0.001	$ 0.001
Issuance of common stock (in shares)	100,000,000								17,588
Net Asset Value (in USD per share) | $ / shares													10.16			$ 10.05	$ 10.16
Common Class C
Business And Organization [Line Items]
Issued common stock					300,000,000		300,000,000
Common Stock, Shares Authorized (In Shares)					300,000,000		300,000,000		300,000,000	200,000,000
Common Stock ( In USD Per Share) | $ / shares					$ 0.001		$ 0.001		$ 0.001	$ 0.001
Common Class C | Minimum
Business And Organization [Line Items]
Issuance of common stock (in shares)							500				500
Sponsor
Business And Organization [Line Items]
Issuance of common stock (in shares)		10,000	10,000
Shares Issued ( in USD per share) | $ / shares		$ 10	$ 10									$ 10
Sponsor | Common Class C
Business And Organization [Line Items]
Issuance of common stock (in shares)							10,740		10,740			20,000
IPO
Business And Organization [Line Items]
Common Stock Subscriptions | $																		$ 90,000,000
DRP Offering
Business And Organization [Line Items]
Common Stock Subscriptions | $																		$ 10,000,000
DRP Offering | Common Class S
Business And Organization [Line Items]
Issuance of common stock (in shares)							1,154		167
Issuance of common stock | $							$ 1,689,029		$ 176,604
DRP Offering | Common Class C
Business And Organization [Line Items]
Issuance of common stock (in shares)							16,834,959		14,027,968
Issuance of common stock | $							$ 169,200,530		$ 140,507,461
DRP Offering | Distribution Reinvestment Plan | Common Class C
Business And Organization [Line Items]
Issuance of common stock (in shares)							1,263,675		903,901
Subsequent Event | Common Class S
Business And Organization [Line Items]
Net Asset Value (in USD per share) | $ / shares													$ 10.16	$ 10.05	$ 10.16
Subsequent Event | Common Class C
Business And Organization [Line Items]
Issuance of common stock (in shares)				17,264,957
Issuance of common stock | $				$ 173,569,307
Retail
Business And Organization [Line Items]
Number of real estate properties					9		9		10
Office
Business And Organization [Line Items]
Number of real estate properties					10		10		9
Industrial Property
Business And Organization [Line Items]
Number of real estate properties					5		5		5
Land
Business And Organization [Line Items]
Number of real estate properties					1		1		1

SUMMARY OF SIGNIFICANT ACOUNT_4

SUMMARY OF SIGNIFICANT ACOUNTING POLICIES - Dividends Declared (FY) (Details) - $ / shares	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Ordinary income (in USD per share)					$ 0.0352	$ 0.111
Non-taxable distribution (in USD per share)					0.6683	0.589
Total (in USD per share)	$ 0.176	$ 0.176	$ 0.352	$ 0.41	$ 0.7035	$ 0.7

SUMMARY OF SIGNIFICANT ACOUNT_5

SUMMARY OF SIGNIFICANT ACOUNTING POLICIES (FY) (Details)

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2019USD ($)$ / shares

Jun. 30, 2018USD ($)$ / shares

Dec. 31, 2017USD ($)$ / shares

Jun. 30, 2019USD ($)$ / shares

Jun. 30, 2018USD ($)$ / shares

Dec. 31, 2018USD ($)Segments$ / sharesshares

Dec. 31, 2017USD ($)Segments$ / shares

Jan. 14, 2019$ / shares

Jan. 13, 2019$ / shares

Jan. 11, 2019$ / shares

Jan. 19, 2018$ / shares

Jan. 18, 2018$ / shares

Accounting Policies [Line Items]

Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares

1,147,573

Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | shares

59,431

Restricted Cash | $

$ 156,046

$ 944,582

$ 156,046

$ 3,503,242

$ 944,582

Net Asset Value (in USD per share)

$ 10.16

Share Price (in USD per share)

$ 10

Dividends (in USD per share)

$ 0.176

$ 0.176

$ 0.352

$ 0.41

$ 0.7035

$ 0.7

Contract with Customer, Liability | $

$ 1,098,603

$ 732,934

$ 2,186,463

$ 1,261,519

$ 3,535,163

$ 1,899,485

Percentage of Share in Property Owned

72.70%

72.70%

Number of Reportable Segments | Segments

1

1

Common Class C

Accounting Policies [Line Items]

Share Price (in USD per share)

10

Dividends (in USD per share)

$ 0.7035

$ 0.7

Basic Earnings (in USD per share)

0.16

0.15

Common Class S

Accounting Policies [Line Items]

Net Asset Value (in USD per share)

10.16

$ 10.05

$ 10.16

Dividends (in USD per share)

$ 0.175

0.7035

Basic Earnings (in USD per share)

$ 0.32

$ 0.46

Common Class S | Subsequent Event

Accounting Policies [Line Items]

Net Asset Value (in USD per share)

$ 10.16

$ 10.05

$ 10.16

Less Than One Year | Common Class S

Accounting Policies [Line Items]

Stock Redemption Price (as a percent)

97.00%

Less Than Two Year | Common Class S

Accounting Policies [Line Items]

Stock Redemption Price (as a percent)

98.00%

Later than Two Year but Less than Three Year

Accounting Policies [Line Items]

Stock Redemption Price (as a percent)

99.00%

Later than Three years

Accounting Policies [Line Items]

Stock Redemption Price (as a percent)

100.00%

Minimum

Accounting Policies [Line Items]

Net Asset Value (in USD per share)

$ 10.05

Maximum

Accounting Policies [Line Items]

Net Asset Value (in USD per share)

$ 10.16

Shares Authorized To Be Repurchased Per Month (as a percent)

2.00%

Shares Authorized To Be Repurchased Per Quarter (as a percent)

5.00%

Shares Authorized To Be Repurchased Per Year (as a percent)

20.00%

Building | Minimum

Accounting Policies [Line Items]

Useful Life ( in years)

29 years

Building | Maximum

Accounting Policies [Line Items]

Useful Life ( in years)

48 years

Site Improvement | Maximum

Accounting Policies [Line Items]

Useful Life ( in years)

15 years

Tenant Improvement

Accounting Policies [Line Items]

Useful Life ( in years)

15 years

Tenant Improvement | Maximum

Accounting Policies [Line Items]

Useful Life ( in years)

15 years

Impounded Property Tax

Accounting Policies [Line Items]

Restricted Cash | $

$ 16,315

Santa Clara

Accounting Policies [Line Items]

Restricted Cash | $

$ 944,582

$ 3,486,927

$ 944,582

CONSOLIDATED BALANCE SHEETS D_3

CONSOLIDATED BALANCE SHEETS DETAILS - Condensed Balance Sheet (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Tenant receivables:
Straight-line rent	$ 2,915,852	$ 2,231,966	$ 995,822
Tenant rent	76	312,171	27,460
Tenant recoveries	1,065,650	1,019,355	239,813
Tenant other	164,761	95,622	0
Total	4,146,339	3,659,114	1,263,095
Accounts payable, accrued expenses and other liabilities:
Accounts payable	470,188	227,793	244,430
Accrued expenses	1,612,897	1,421,197	568,881
Accrued dividends	896,291	749,170	2,427
Accrued interest payable	429,256	445,481	186,841
Unearned rent	749,865	827,338	548,266
Deferred commission payable		1,650	2,250
Lease incentive obligation	104,385	3,492,084	858,389
Total	$ 4,264,232	$ 7,164,713	$ 2,411,484

REAL ESTATE INVESTMENTS - Sched

REAL ESTATE INVESTMENTS - Schedule of Real Estate Properties (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate [Line Items]
Land, Buildings and Improvements	$ 217,494,190	$ 217,494,190
Tenant origination and absorption costs	17,717,819	17,717,819	$ 8,340,774
Accumulated Depreciation and Amortization	(15,346,655)	(10,563,664)	(3,574,739)	$ (493,185)
Total investments in real estate property, net	219,865,354	224,648,345	$ 135,235,616
Office | Accredo
Real Estate [Line Items]
Land, Buildings and Improvements		9,855,847
Tenant origination and absorption costs		1,053,637
Accumulated Depreciation and Amortization		(1,265,678)
Total investments in real estate property, net		9,643,806
Office | Northrop Grumman
Real Estate [Line Items]
Land, Buildings and Improvements	12,382,991	12,382,991
Tenant origination and absorption costs	1,341,199	1,341,199
Accumulated Depreciation and Amortization	(1,794,441)	(1,402,927)
Total investments in real estate property, net	11,929,749	12,321,263
Office | exp US Services
Real Estate [Line Items]
Land, Buildings and Improvements	5,920,121	5,920,121
Tenant origination and absorption costs	388,248	388,248
Accumulated Depreciation and Amortization	(497,611)	(389,042)
Total investments in real estate property, net	5,810,758	5,919,327
Office | Wyndham
Real Estate [Line Items]
Land, Buildings and Improvements	10,406,483	10,406,483
Tenant origination and absorption costs	669,232	669,232
Accumulated Depreciation and Amortization	(638,485)	(461,240)
Total investments in real estate property, net	10,437,230	10,614,475
Office | Williams Sonoma
Real Estate [Line Items]
Land, Buildings and Improvements	8,079,612	8,079,612
Tenant origination and absorption costs	550,486	550,486
Accumulated Depreciation and Amortization	(591,123)	(435,346)
Total investments in real estate property, net	8,038,975	8,194,752
Office | EMCOR
Real Estate [Line Items]
Land, Buildings and Improvements	5,960,610	5,960,610
Tenant origination and absorption costs	463,488	463,488
Accumulated Depreciation and Amortization	(335,108)	(245,453)
Total investments in real estate property, net	6,088,990	6,178,645
Office | Cummins
Real Estate [Line Items]
Land, Buildings and Improvements		14,465,491
Tenant origination and absorption costs		1,536,998
Accumulated Depreciation and Amortization		(562,814)
Total investments in real estate property, net		15,439,675
Office | Texas Health
Real Estate [Line Items]
Land, Buildings and Improvements	6,976,703	6,976,703
Tenant origination and absorption costs	713,221	713,221
Accumulated Depreciation and Amortization	(235,372)	(86,716)
Total investments in real estate property, net	7,454,552	7,603,208
Office | Bon Secours
Real Estate [Line Items]
Land, Buildings and Improvements	10,042,551	10,042,551
Tenant origination and absorption costs	800,356	800,356
Accumulated Depreciation and Amortization	(308,484)	(90,731)
Total investments in real estate property, net	10,534,423	10,752,176
Office | Costco
Real Estate [Line Items]
Land, Buildings and Improvements	27,263,632
Tenant origination and absorption costs	2,765,136
Accumulated Depreciation and Amortization	(702,672)
Total investments in real estate property, net	29,326,096
Land | Northrop Grumman
Real Estate [Line Items]
Land, Buildings and Improvements		329,410
Tenant origination and absorption costs		0
Accumulated Depreciation and Amortization		0
Total investments in real estate property, net		329,410
Retail | Walgreens, Stockbridge, GA
Real Estate [Line Items]
Land, Buildings and Improvements		4,147,948
Tenant origination and absorption costs		705,423
Accumulated Depreciation and Amortization		(833,561)
Total investments in real estate property, net		4,019,810
Retail | Dollar General, Litchfield
Real Estate [Line Items]
Land, Buildings and Improvements		1,281,812
Tenant origination and absorption costs		116,302
Accumulated Depreciation and Amortization		(85,518)
Total investments in real estate property, net		1,312,596
Retail | Dollar General, Wilton
Real Estate [Line Items]
Land, Buildings and Improvements		1,543,776
Tenant origination and absorption costs		140,653
Accumulated Depreciation and Amortization		(109,445)
Total investments in real estate property, net		1,574,984
Retail | Dollar General, Thompsontown
Real Estate [Line Items]
Land, Buildings and Improvements		1,199,860
Tenant origination and absorption costs		106,730
Accumulated Depreciation and Amortization		(82,167)
Total investments in real estate property, net		1,224,423
Retail | Dollar General, Mt. Gilead
Real Estate [Line Items]
Land, Buildings and Improvements		1,174,188
Tenant origination and absorption costs		111,847
Accumulated Depreciation and Amortization		(78,780)
Total investments in real estate property, net		1,207,255
Retail | Dollar General, Lakeside
Real Estate [Line Items]
Land, Buildings and Improvements		1,112,872
Tenant origination and absorption costs		100,857
Accumulated Depreciation and Amortization		(80,853)
Total investments in real estate property, net		1,132,876
Retail | Dollar General, Castalia
Real Estate [Line Items]
Land, Buildings and Improvements		1,102,086
Tenant origination and absorption costs		86,408
Accumulated Depreciation and Amortization		(78,557)
Total investments in real estate property, net		1,109,937
Retail | Harley
Real Estate [Line Items]
Land, Buildings and Improvements	13,178,288	13,178,288
Tenant origination and absorption costs	0	0
Accumulated Depreciation and Amortization	(734,877)	(562,523)
Total investments in real estate property, net	12,443,411	12,615,765
Retail | 24 Hour Fitness
Real Estate [Line Items]
Land, Buildings and Improvements		11,453,337
Tenant origination and absorption costs		1,204,973
Accumulated Depreciation and Amortization		(204,887)
Total investments in real estate property, net		12,453,423
Retail | Costco
Real Estate [Line Items]
Land, Buildings and Improvements		27,263,632
Tenant origination and absorption costs		2,765,136
Accumulated Depreciation and Amortization		(54,052)
Total investments in real estate property, net		29,974,716
Industrial | Dana
Real Estate [Line Items]
Land, Buildings and Improvements	8,392,906	8,392,906
Tenant origination and absorption costs	1,210,874	1,210,874
Accumulated Depreciation and Amortization	(1,246,883)	(1,001,594)
Total investments in real estate property, net	8,356,897	8,602,186
Industrial | Omnicare
Real Estate [Line Items]
Land, Buildings and Improvements	7,262,747	7,262,747
Tenant origination and absorption costs	281,442	281,442
Accumulated Depreciation and Amortization	(465,575)	(343,275)
Total investments in real estate property, net	7,078,614	7,200,914
Industrial | Husqvarna
Real Estate [Line Items]
Land, Buildings and Improvements	11,840,200	11,840,200
Tenant origination and absorption costs	1,013,948	1,013,948
Accumulated Depreciation and Amortization	(578,086)	(399,615)
Total investments in real estate property, net	12,276,062	12,454,533
Industrial | AvAir
Real Estate [Line Items]
Land, Buildings and Improvements	27,357,900	27,357,900
Tenant origination and absorption costs	0	0
Accumulated Depreciation and Amortization	(1,070,027)	(722,991)
Total investments in real estate property, net	$ 26,287,873	26,634,909
Industrial | 3M
Real Estate [Line Items]
Land, Buildings and Improvements		14,762,819
Tenant origination and absorption costs		2,356,361
Accumulated Depreciation and Amortization		(985,899)
Total investments in real estate property, net		$ 16,133,281

REAL ESTATE INVESTMENTS - Prope

REAL ESTATE INVESTMENTS - Property Acquisitions (FY) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Capitalized Acquisition Costs			$ 3,015,057
Payments to Acquire and Develop Real Estate		$ 93,253,505	103,973,925
Payments to Acquire Real Estate Below Market	$ 32,033,596
Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			13,724,190
3M
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		15,701,697
Cummins
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		16,002,488
Northrop Grumman
Real Estate [Line Items]
Capitalized Acquisition Costs			398,100
Payments to Acquire and Develop Real Estate		329,410
24 Hour Fitness
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		12,658,311
Texas Health
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		7,689,924
Bon Secours
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		10,842,907
Costco
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		30,028,768
Husqvarna
Real Estate [Line Items]
Capitalized Acquisition Costs			348,000
Payments to Acquire and Develop Real Estate			12,003,048
AvAir
Real Estate [Line Items]
Capitalized Acquisition Costs			795,000
Payments to Acquire and Develop Real Estate			27,353,124
exp US Services
Real Estate [Line Items]
Capitalized Acquisition Costs			200,837
Payments to Acquire and Develop Real Estate			6,924,855
Harley
Real Estate [Line Items]
Capitalized Acquisition Costs			382,500
Payments to Acquire and Develop Real Estate			13,178,288
Wyndham
Real Estate [Line Items]
Capitalized Acquisition Costs			292,970
Payments to Acquire and Develop Real Estate			10,116,502
Williams Sonoma
Real Estate [Line Items]
Capitalized Acquisition Costs			209,165
Payments to Acquire and Develop Real Estate			7,211,012
Omnicare
Real Estate [Line Items]
Capitalized Acquisition Costs			211,275
Payments to Acquire and Develop Real Estate			7,324,370
EMCOR
Real Estate [Line Items]
Capitalized Acquisition Costs			177,210
Payments to Acquire and Develop Real Estate			6,138,536
Land
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		19,247,622	16,509,531
Payments to Acquire Real Estate Below Market	4,436,149
Land | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			1,191,024
Land | 3M
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		758,780
Land | Cummins
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		3,347,959
Land | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		329,410
Land | 24 Hour Fitness
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		3,121,985
Land | Texas Health
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		1,827,914
Land | Bon Secours
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		1,658,659
Land | Costco
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		8,202,915
Land | Husqvarna
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			974,663
Land | AvAir
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			3,493,673
Land | exp US Services
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			785,801
Land | Harley
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			1,145,196
Land | Wyndham
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			4,144,069
Land | Williams Sonoma
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			3,546,744
Land | Omnicare
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			800,772
Land | EMCOR
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			427,589
Buildings and Improvements
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		66,046,320	83,642,026
Payments to Acquire Real Estate Below Market	25,121,571
Buildings and Improvements | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			11,191,967
Buildings and Improvements | 3M
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		14,004,039
Buildings and Improvements | Cummins
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		11,117,531
Buildings and Improvements | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Buildings and Improvements | 24 Hour Fitness
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		8,331,352
Buildings and Improvements | Texas Health
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		5,148,789
Buildings and Improvements | Bon Secours
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		8,383,892
Buildings and Improvements | Costco
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		19,060,717
Buildings and Improvements | Husqvarna
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			10,866,481
Buildings and Improvements | AvAir
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			23,859,451
Buildings and Improvements | exp US Services
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			5,134,320
Buildings and Improvements | Harley
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			12,033,092
Buildings and Improvements | Wyndham
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			5,303,201
Buildings and Improvements | Williams Sonoma
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			3,478,337
Buildings and Improvements | Omnicare
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			6,242,156
Buildings and Improvements | EMCOR
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			5,533,021
Tenant Origination and Absorption Costs
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		9,377,046	4,708,043
Payments to Acquire Real Estate Below Market	3,893,359
Tenant Origination and Absorption Costs | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			1,341,199
Tenant Origination and Absorption Costs | 3M
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		2,356,361
Tenant Origination and Absorption Costs | Cummins
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		1,536,998
Tenant Origination and Absorption Costs | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Tenant Origination and Absorption Costs | 24 Hour Fitness
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		1,204,974
Tenant Origination and Absorption Costs | Texas Health
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		713,221
Tenant Origination and Absorption Costs | Bon Secours
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		800,356
Tenant Origination and Absorption Costs | Costco
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		2,765,136
Tenant Origination and Absorption Costs | Husqvarna
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			1,013,948
Tenant Origination and Absorption Costs | AvAir
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Tenant Origination and Absorption Costs | exp US Services
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			388,248
Tenant Origination and Absorption Costs | Harley
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Tenant Origination and Absorption Costs | Wyndham
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			669,232
Tenant Origination and Absorption Costs | Williams Sonoma
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			550,486
Tenant Origination and Absorption Costs | Omnicare
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			281,442
Tenant Origination and Absorption Costs | EMCOR
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			463,488
Above-Market Lease Intangibles
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0	616,486
Above-Market Lease Intangibles | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Above-Market Lease Intangibles | 3M
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Above-Market Lease Intangibles | Cummins
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Above-Market Lease Intangibles | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Above-Market Lease Intangibles | 24 Hour Fitness
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Above-Market Lease Intangibles | Texas Health
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Above-Market Lease Intangibles | Bon Secours
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Above-Market Lease Intangibles | Costco
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate		0
Above-Market Lease Intangibles | Husqvarna
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Above-Market Lease Intangibles | AvAir
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Above-Market Lease Intangibles | exp US Services
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			616,486
Above-Market Lease Intangibles | Harley
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Above-Market Lease Intangibles | Wyndham
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Above-Market Lease Intangibles | Williams Sonoma
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Above-Market Lease Intangibles | Omnicare
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Above-Market Lease Intangibles | EMCOR
Real Estate [Line Items]
Payments to Acquire and Develop Real Estate			0
Below-Market Lease Intangibles
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market	$ (1,417,483)	(1,417,483)	(1,502,161)
Below-Market Lease Intangibles | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			0
Below-Market Lease Intangibles | 3M
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market		(1,417,483)
Below-Market Lease Intangibles | Cummins
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market		0
Below-Market Lease Intangibles | Northrop Grumman
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market		0
Below-Market Lease Intangibles | 24 Hour Fitness
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market		0
Below-Market Lease Intangibles | Texas Health
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market		0
Below-Market Lease Intangibles | Bon Secours
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market		0
Below-Market Lease Intangibles | Costco
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market		$ 0
Below-Market Lease Intangibles | Husqvarna
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			(852,044)
Below-Market Lease Intangibles | AvAir
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			0
Below-Market Lease Intangibles | exp US Services
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			0
Below-Market Lease Intangibles | Harley
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			0
Below-Market Lease Intangibles | Wyndham
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			0
Below-Market Lease Intangibles | Williams Sonoma
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			(364,555)
Below-Market Lease Intangibles | Omnicare
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			0
Below-Market Lease Intangibles | EMCOR
Real Estate [Line Items]
Payments to Acquire Real Estate Below Market			$ (285,562)

REAL ESTATE INVESTMENTS - Pro_2

REAL ESTATE INVESTMENTS - Property Purchase Price (FY) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Abstract]
Purchase price and other acquisition costs		$ 93,253,505	$ 103,973,925
Purchase deposits applied			(500,000)
Acquisition fees to affiliate		2,702,043	(3,015,057)
Acquisition of real estate before financing	$ 31,103,596	$ 90,551,462	$ 100,458,868

REAL ESTATE INVESTMENTS REAL ES

REAL ESTATE INVESTMENTS REAL ESTATE INVESTMENTS - Capitalized Acquisition Fees (FY) (Details)	Dec. 31, 2018USD ($)
Real Estate [Line Items]
Acquisition costs	$ 2,702,043
3M
Real Estate [Line Items]
Acquisition costs	456,000
Cummins
Real Estate [Line Items]
Acquisition costs	465,000
Northrop Grumman
Real Estate [Line Items]
Acquisition costs	9,000
24 Hour Fitness
Real Estate [Line Items]
Acquisition costs	366,000
Texas Health
Real Estate [Line Items]
Acquisition costs	222,750
Bon Secours
Real Estate [Line Items]
Acquisition costs	313,293
Costco
Real Estate [Line Items]
Acquisition costs	$ 870,000

REAL ESTATE INVESTMENTS - Portf

REAL ESTATE INVESTMENTS - Portfolio Concentrations (FY) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Total Investment in Real Estate Property, Net	$ 219,865,354		$ 219,865,354		$ 224,648,345	$ 135,235,616
Total revenues					17,984,625	7,390,206
Net Carrying Value	233,852,427		233,852,427		238,924,160	149,759,638
AvAir, AZ
Real Estate [Line Items]
Total revenues	$ 666,774	$ 653,374	$ 1,333,549	$ 1,289,146	$ 2,670,159	$ 2,100,000
Percentage of Total Assets	11.30%	14.90%	11.30%	16.40%	14.80%	19.90%
AvAir, AZ | Percentage of Total Assets
Real Estate [Line Items]
Total Investment in Real Estate Property, Net					$ 26,634,909	$ 27,353,125
Percentage of Total Assets					10.60%	17.40%
Costco
Real Estate [Line Items]
Total revenues	$ 697,522	$ 0	$ 1,376,025	$ 0
Percentage of Total Assets	11.80%	0.00%	11.70%	0.00%
Costco | Percentage of Total Assets
Real Estate [Line Items]
Total Investment in Real Estate Property, Net	$ 29,326,096		$ 29,326,096		$ 29,974,716	$ 0
Percentage of Total Assets			11.70%		11.90%	0.00%
Northrop Grumman
Real Estate [Line Items]
Total revenues					$ 0	$ 1,162,274
Percentage of Total Assets					0.00%	11.00%

REAL ESTATE INVESTMENTS - Renta

REAL ESTATE INVESTMENTS - Rental Payments for Operating Leases (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
2019	$ 17,834,035	$ 17,588,378
2020	16,752,518	17,834,035
2021	15,520,338	16,752,518
2022	13,317,933	15,520,338
2023	12,958,858	13,317,933
Thereafter	46,224,832	59,183,690
Total	$ 131,447,201	$ 140,196,892

REAL ESTATE INVESTMENTS - Finit

REAL ESTATE INVESTMENTS - Finite-Lived Intangible Assets (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Tenant Origination and Absorption Costs
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 17,717,819	$ 17,717,819	$ 8,340,774
Accumulated amortization	(4,569,358)	(3,173,254)	(1,192,318)
Net amount	13,148,461	14,544,565	7,148,456
Above-Market Lease Intangibles
Finite-Lived Intangible Assets, Net [Abstract]
Cost	783,115	783,115	783,115
Accumulated amortization	(247,390)	(198,867)	(101,822)
Net amount	535,725	584,248	681,293
Below-Market Lease Intangibles
Finite-Lived Intangible Assets, Net [Abstract]
Net amount		2,595,382
Below Market Lease, Net [Abstract]
Cost	(3,071,253)	(3,071,253)	(1,653,771)
Accumulated amortization	713,067	475,871	69,542
Net amount	$ (2,358,186)	$ (2,595,382)	$ (1,584,229)

REAL ESTATE INVESTMENTS - Fin_2

REAL ESTATE INVESTMENTS - Finite-Lived Intangible Assets, Future Amortization (FY) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Weighted-Average Remaining Amortization Period (in years)	7 years 4 months 10 days	7 years 7 months 6 days
Tenant Origination and Absorption Costs
Real Estate [Line Items]
2019	$ 1,396,105	$ 2,792,209
2020	2,792,209	2,792,209
2021	2,375,949	2,375,950
2022	1,839,880	1,839,880
2023	1,214,116	1,214,116
Thereafter		3,530,201
Net amount	$ 13,148,461	$ 14,544,565	$ 7,148,456
Weighted-Average Remaining Amortization Period (in years)	6 years 11 months 14 days	7 years 2 months 25 days
Above-Market Lease Intangibles
Real Estate [Line Items]
2019	$ 48,524	$ 97,045
2020	97,045	97,045
2021	78,994	78,994
2022	63,719	63,720
2023	63,719	63,719
Thereafter		183,725
Net amount	$ 535,725	$ 584,248	$ 681,293
Weighted-Average Remaining Amortization Period (in years)	6 years 9 months	7 years 1 month 25 days
Below-Market Lease Intangibles
Real Estate [Line Items]
2019		$ 474,391
2020		474,391
2021		474,391
2022		306,829
2023		78,370
Thereafter		787,010
Net amount		$ 2,595,382
Weighted-Average Remaining Amortization Period (in years)	9 years 8 months 22 days	9 years 9 months 18 days

REAL ESTATE INVESTMENTS (FY) (D

REAL ESTATE INVESTMENTS (FY) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)propertiesStates	Dec. 31, 2017USD ($)	Jun. 30, 2019StatesProperty
Real Estate [Line Items]
Acquisition costs	$ 2,702,043
Number of real estate properties	24		24
Number of states in which entity operates | States	13		13
Revenue of acquiree	$ 3,773,997	$ 4,413,353
Advisor
Real Estate [Line Items]
Acquisition costs	$ 50,296	$ 20,555
Retail
Real Estate [Line Items]
Number of real estate properties	10		9
Office
Real Estate [Line Items]
Number of real estate properties	9		10
Industrial Property
Real Estate [Line Items]
Number of real estate properties	5		5
Land
Real Estate [Line Items]
Number of real estate properties	1		1

INVESTMENTS IN UNCONSOLIDATED_5

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Equity Method Investments (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities	$ 13,987,073	$ 14,275,815	$ 14,524,022
The TIC Interest
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities		10,749,332	11,103,547
Rich Uncles Real Estate Investment Trust I ("REIT I")
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities		$ 3,526,483	$ 3,420,475

INVESTMENTS IN UNCONSOLIDATED_6

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Entities Equity In Earnings (FY) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ 55,955	$ 38,606	$ 129,988	$ 93,485	$ 226,024	$ 199,233
The TIC Interest
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments					269,191	30,038
Rich Uncles Real Estate Investment Trust I ("REIT I")
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments					$ (43,167)	$ 169,195

INVESTMENTS IN UNCONSOLIDATED_7

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summarized Financial Information (FY) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2016
Assets:
Cash and cash equivalents and restricted cash	$ 4,182,755	$ 8,755,928	$ 4,182,755	$ 10,791,300	$ 4,281,589	$ 3,677,373
The TIC Interest
Assets:
Real estate investments, net	32,587,034	31,668,300	32,587,034
Cash and cash equivalents	615,436	466,379	615,436
Other assets	103,700	117,075	103,700
Total assets	33,306,170	32,251,754	33,306,170
Liabilities:
Mortgage notes payable, net	14,235,256	13,994,844	14,235,256
Below-market lease, net	3,247,480	3,103,778	3,247,480
Other liabilities	246,085	61,188	246,085
Total liabilities	17,728,821	17,159,810	17,728,821
Total shareholders' equity	15,577,349	15,091,944	15,577,349
Total liabilities, redeemable common stock and stockholders' equity	33,306,170	32,251,754	33,306,170
Total revenue	757,850	2,678,110
Expenses:
Depreciation and amortization	154,339	584,059
Interest expense	410,722	991,621
Other expense	151,477	730,448
Total expenses	716,538	2,306,128
Other income:
Net (loss) income	41,312	371,982
Rich Uncles Real Estate Investment Trust I ("REIT I")
Assets:
Real estate investments, net	131,166,670	125,075,537	131,166,670
Cash and cash equivalents and restricted cash	6,027,807	3,376,145	6,027,807
Other assets	2,658,777	3,070,475	2,658,777
Total assets	139,853,254	131,522,157	139,853,254
Liabilities:
Mortgage notes payable, net	62,277,387	61,446,068	62,277,387
Below-market lease, net	3,966,008	3,105,843	3,966,008
Other liabilities	2,937,247	3,359,618	2,937,247
Total liabilities	69,180,642	67,911,529	69,180,642
Redeemable common stock	586,242	163,572	586,242
Total shareholders' equity	70,086,370	63,447,056	70,086,370
Total liabilities, redeemable common stock and stockholders' equity	$ 139,853,254	131,522,157	139,853,254
Total revenue		13,166,631	12,837,755
Expenses:
Depreciation and amortization		5,783,643	5,654,451
Interest expense		2,813,430	2,503,810
Other expense		4,603,963	4,033,242
Impairment of real estate investment property		862,190	0
Total expenses		14,063,226	12,191,503
Other income:
Gain on sale of real estate investment property, net		0	747,957
Other income		0	838
Total other income		0	748,795
Net (loss) income		$ (896,595)	$ 1,395,047

INVESTMENTS IN UNCONSOLIDATED_8

INVESTMENTS IN UNCONSOLIDATED ENTITIES (FY) (Details) - USD ($)	Jan. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Sep. 28, 2017
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments		$ (55,955)	$ (38,606)	$ (129,988)	$ (93,485)	$ (226,024)	$ (199,233)
Proceeds from Distributions Received from Real Estate Partnerships						623,406	95,158
The TIC Interest
Schedule of Equity Method Investments [Line Items]
Capitalized costs, equity method investments						626,073
Ownership (as a percent)								72.70%
Income (Loss) from Equity Method Investments						$ (269,191)	$ (30,038)
Rich Uncles Real Estate Investment Trust I ("REIT I")
Schedule of Equity Method Investments [Line Items]
Ownership (as a percent)		4.80%		4.80%		4.80%	4.40%	72.70%
Ownership Percentage by Noncontrolling Owners (as a percent)								27.30%
Income (Loss) from Equity Method Investments	$ (109,309)	$ 15,748	$ 32,301	$ 22,075	$ 27,202	$ 43,167	$ (169,195)
Proceeds from Distributions Received from Real Estate Partnerships						$ 273,264	$ 272,528
Santa Clara
Schedule of Equity Method Investments [Line Items]
Ownership Percentage by Noncontrolling Owners (as a percent)								27.30%
Hagg Lane II, LLC | The TIC Interest
Schedule of Equity Method Investments [Line Items]
Ownership Percentage by Noncontrolling Owners (as a percent)								23.40%
Hagg Lane II, LLC | Rich Uncles Real Estate Investment Trust I ("REIT I")
Schedule of Equity Method Investments [Line Items]
Ownership Percentage by Noncontrolling Owners (as a percent)								23.40%
Hagg Lane III, LLC | The TIC Interest
Schedule of Equity Method Investments [Line Items]
Ownership Percentage by Noncontrolling Owners (as a percent)								3.90%
Hagg Lane III, LLC | Rich Uncles Real Estate Investment Trust I ("REIT I")
Schedule of Equity Method Investments [Line Items]
Ownership Percentage by Noncontrolling Owners (as a percent)								3.90%

DEBT - Company's Mortgage Notes

DEBT - Company's Mortgage Notes (FY) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2023	Mar. 07, 2019	Mar. 27, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Principal balance	$ 117,132,085	$ 134,022,937
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	(2,099,104)	(2,315,629)
Net principal	$ 115,032,981	$ 131,707,308
Loans To Assets Ratio (as a percent)	60.00%	60.00%
Accredo and Walgreens acquisitions
Short-term Debt [Line Items]
Principal balance		$ 6,996,469				$ 7,133,966
Contractual Interest Rate (as a percent)		3.95%
Effective Interest Rate ( as a percent)		3.95%
Dana
Short-term Debt [Line Items]
Principal balance		$ 4,632,398				4,709,889
Contractual Interest Rate (as a percent)		4.56%
Effective Interest Rate ( as a percent)		4.56%
Dollar General
Short-term Debt [Line Items]
Principal balance		$ 3,885,334				3,951,846
Contractual Interest Rate (as a percent)		4.69%
Effective Interest Rate ( as a percent)		4.69%
Wyndham
Short-term Debt [Line Items]
Principal balance		$ 5,820,600				5,920,800
Effective Interest Rate ( as a percent)		4.34%
Wyndham | (LIBOR)
Short-term Debt [Line Items]
Basis Spread on Variable Rate ( as a percent)		2.05%
Williams Sonoma
Short-term Debt [Line Items]
Principal balance		$ 4,615,800				4,699,200
Effective Interest Rate ( as a percent)		4.34%
Williams Sonoma | (LIBOR)
Short-term Debt [Line Items]
Basis Spread on Variable Rate ( as a percent)		2.05%
Omnicare
Short-term Debt [Line Items]
Principal balance		$ 4,349,963				4,423,574
Contractual Interest Rate (as a percent)		4.36%
Effective Interest Rate ( as a percent)		4.36%
Harley
Short-term Debt [Line Items]
Principal balance		$ 6,868,254				6,983,418
Contractual Interest Rate (as a percent)		4.25%
Effective Interest Rate ( as a percent)		4.25%
Northrop Grumman
Short-term Debt [Line Items]
Principal balance		$ 5,809,367				5,945,655
Contractual Interest Rate (as a percent)		4.40%
Effective Interest Rate ( as a percent)		4.40%
EMCOR
Short-term Debt [Line Items]
Principal balance		$ 2,911,577				2,955,000
Contractual Interest Rate (as a percent)		4.35%
Effective Interest Rate ( as a percent)		4.35%
exp US Services
Short-term Debt [Line Items]
Principal balance		$ 3,446,493				3,505,061
Contractual Interest Rate (as a percent)		4.25%
Effective Interest Rate ( as a percent)		4.25%
exp US Services | Treasury Bill Index
Short-term Debt [Line Items]
Contractual Interest Rate (as a percent)		3.25%
Husqvarna
Short-term Debt [Line Items]
Principal balance		$ 6,379,182				0
Contractual Interest Rate (as a percent)	4.60%	4.60%
Effective Interest Rate ( as a percent)		4.60%
Husqvarna | Maximum | Treasury Bill Index
Short-term Debt [Line Items]
Contractual Interest Rate (as a percent)	2.45%
AvAir
Short-term Debt [Line Items]
Principal balance		$ 14,575,000				12,000,000
Contractual Interest Rate (as a percent)	4.84%	4.84%
Effective Interest Rate ( as a percent)		4.84%
Face value					$ 14,575,000
AvAir | Minimum | Treasury Bill Index
Short-term Debt [Line Items]
Contractual Interest Rate (as a percent)	4.60%	4.60%
AvAir | Maximum | Treasury Bill Index
Short-term Debt [Line Items]
Contractual Interest Rate (as a percent)	2.45%	2.45%
3M
Short-term Debt [Line Items]
Principal balance		$ 8,360,000				0
Effective Interest Rate ( as a percent)		5.09%
3M | (LIBOR)
Short-term Debt [Line Items]
Basis Spread on Variable Rate ( as a percent)		2.25%
Cummins
Short-term Debt [Line Items]
Principal balance		$ 8,530,000				0
Effective Interest Rate ( as a percent)		5.16%
Cummins | (LIBOR)
Short-term Debt [Line Items]
Basis Spread on Variable Rate ( as a percent)		2.25%
24 Hour Fitness
Short-term Debt [Line Items]
Principal balance		$ 8,900,000				0
Effective Interest Rate ( as a percent)		6.56%
24 Hour Fitness | (LIBOR)
Short-term Debt [Line Items]
Basis Spread on Variable Rate ( as a percent)		4.30%
Texas Health
Short-term Debt [Line Items]
Principal balance	$ 0	$ 4,842,500				0
Effective Interest Rate ( as a percent)	6.56%	6.56%
Texas Health | (LIBOR)
Short-term Debt [Line Items]
Basis Spread on Variable Rate ( as a percent)		4.30%
Bon Secours
Short-term Debt [Line Items]
Principal balance	$ 5,250,000	$ 5,250,000				0
Contractual Interest Rate (as a percent)	5.41%	5.41%
Effective Interest Rate ( as a percent)	5.41%	5.41%
Costco
Short-term Debt [Line Items]
Principal balance	$ 18,850,000	$ 18,850,000				0
Contractual Interest Rate (as a percent)	4.85%	4.85%
Effective Interest Rate ( as a percent)	4.85%	4.85%
Mortgages
Short-term Debt [Line Items]
Principal balance	$ 117,132,085	$ 125,022,937				62,228,409
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	(2,099,104)	(2,313,629)				(1,741,106)
Net principal	$ 115,032,981	122,709,308				60,487,303
Face value		$ 125,022,937				$ 62,228,409
Forecast | Husqvarna | Minimum | Treasury Bill Index
Short-term Debt [Line Items]
Contractual Interest Rate (as a percent)			4.60%
Forecast | Husqvarna | Maximum | Treasury Bill Index
Short-term Debt [Line Items]
Contractual Interest Rate (as a percent)			2.45%
Subsequent Event | 24 Hour Fitness
Short-term Debt [Line Items]
Contractual Interest Rate (as a percent)				4.64%
Face value				$ 6,350,000
Subsequent Event | Mortgages | 24 Hour Fitness
Short-term Debt [Line Items]
Face value				$ 6,350,000

DEBT - Mortgage Notes Payable (

DEBT - Mortgage Notes Payable (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Fair Value	$ 123,128,492	$ 123,821,490
Carrying Value	115,032,981	131,707,308
Mortgages
Short-term Debt [Line Items]
Fair Value		123,821,490	$ 62,363,284
Carrying Value	$ 115,032,981	122,709,308	60,487,303
Face value		$ 125,022,937	$ 62,228,409

DEBT - Future principal repayme

DEBT - Future principal repayments (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
2019	$ 637,333	$ 23,852,271
2020	1,523,095	1,435,312
2021	8,223,343	8,130,359
2022	14,617,593	14,516,126
2023	21,247,852	21,115,026
Thereafter		64,973,843
Total principal	117,132,085	134,022,937
Deferred financing costs, net	(2,099,104)	(2,315,629)
Net principal	115,032,981	131,707,308
Mortgage Notes Payable
Debt Instrument [Line Items]
2019	637,333	14,852,271
2020	1,523,095	1,435,312
2021	8,223,343	8,130,359
2022	14,617,593	14,516,126
2023	21,247,852	21,115,026
Thereafter		64,973,843
Total principal	117,132,085	125,022,937
Deferred financing costs, net	(2,099,104)	(2,313,629)
Net principal	115,032,981	122,709,308
Unsecured Credit Facility
Debt Instrument [Line Items]
2019	0	9,000,000
2020	0	0
2021	0	0
2022	0	0
2023	0	0
Thereafter		0
Total principal	0	9,000,000
Deferred financing costs, net	0	(2,000)
Net principal	$ 0	$ 8,998,000

DEBT - Interest Expenses Reconc

DEBT - Interest Expenses Reconciliation (FY) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Interest expense	$ 2,076,725	$ 1,203,260	$ 4,237,075	$ 2,293,876	$ 5,577,828	$ 1,637,984
Loss (gain) on interest rate swaps	553,490	6,235	874,016	(220,571)	157,613	(7,899)
Accrued interest payable					7,649	6,231
Mortgage Note Payable
Debt Instrument [Line Items]
Interest expense	1,368,662	996,756	2,845,158	1,822,477	4,065,686	1,191,351
Amortization of deferred financing costs	109,071	98,648	379,593	505,534	897,535	168,546
Loss (gain) on interest rate swaps	562,571	15,877	890,385	(213,389)	261,198	(1,668)
Unsecured Credit Facility
Debt Instrument [Line Items]
Interest expense	27,918	83,408	111,436	166,397	323,409	248,637
Amortization of deferred financing costs	$ 8,503	$ 8,571	$ 10,503	$ 12,857	30,000	1,118
Forfeited loan fee					$ 0	$ 30,000

DEBT (FY) (Details)

DEBT (FY) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Apr. 30, 2019	Mar. 31, 2019	Mar. 31, 2018	Feb. 28, 2018	Feb. 01, 2018	Jan. 26, 2018	Dec. 31, 2016
Debt Instrument [Line Items]
Maximum Borrowing Capacity							$ 10,000,000
Interest expense (Note 6)	$ 2,076,725	$ 1,203,260	$ 4,237,075	$ 2,293,876	$ 5,577,828	$ 1,637,984
Interest Payable	429,256		$ 429,256		$ 445,481	186,841
Loans To Assets Ratio (as a percent)			60.00%		60.00%
Stockholders' Equity Attributable to Parent	120,812,608	93,781,564	$ 120,812,608	93,781,564	$ 103,092,769	79,249,866		$ 113,287,570	$ 85,300,468				$ 22,231,106
Chief Executive Officer
Debt Instrument [Line Items]
Guarantee Undertaken					9,000,000
Unsecured Credit Facility
Debt Instrument [Line Items]
Interest expense (Note 6)	$ 27,918	$ 83,408	$ 111,436	$ 166,397	$ 323,409	$ 248,637
Pacific Mercantile Bank
Debt Instrument [Line Items]
Maximum Borrowing Capacity												$ 12,000,000
Line of Credit Facility, Interest Rate at Period End					6.50%
New Credit Facility | Unsecured Credit Facility
Debt Instrument [Line Items]
Maximum Borrowing Capacity										$ 9,000,000	$ 9,000,000
Line of Credit Facility, Interest Rate at Period End	6.50%		6.50%

INTEREST RATE SWAP DERIVATIVE_5

INTEREST RATE SWAP DERIVATIVES -Notional Amounts of Derivative Instruments (FY) (Details) - Interest Rate Swap	12 Months Ended
	Dec. 31, 2018USD ($)Instrument	Dec. 31, 2017USD ($)Instrument	Jun. 30, 2019Instrument
Derivatives, Fair Value [Line Items]
Number of Instruments | Instrument	4	2	4
Notional amount | $	$ 27,346,400	$ 10,620,000
Weighted Average Fixed Pay Rate	4.73%	4.21%	4.71%
Weighted Average Remaining Term	5 years 1 month 6 days	7 years 2 months 16 days

INTEREST RATE SWAP DERIVATIVE_6

INTEREST RATE SWAP DERIVATIVES - Fair Value of Derivative Instruments (FY) (Details)	Jun. 30, 2019USD ($)Instrument	Dec. 31, 2018USD ($)Instrument	Dec. 31, 2017USD ($)Instrument
Derivatives, Fair Value [Line Items]
Fair Value	$ (1,023,730)	$ (300,929)	$ 0
Derivative Asset	$ 0	$ 151,215	$ 7,899
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Number of Instruments | Instrument	4	4	2
Liability | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Number of Instruments | Instrument	4	2	0
Fair Value	$ 1,023,730	$ 300,929	$ 0
Assets | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Number of Instruments | Instrument	0	2	2
Derivative Asset	$ 0	$ 151,215	$ 7,899

INTEREST RATE SWAP DERIVATIVE_7

INTEREST RATE SWAP DERIVATIVES (FY) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Unrealized Gain (Loss) on Derivatives	$ 553,490	$ 6,235	$ 874,016	$ (220,571)	$ 157,613	$ (7,899)
Minimum
Derivatives, Fair Value [Line Items]
Notional Amount	24,967,299		24,967,299
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Notional Amount	$ 27,212,600		$ 27,212,600		27,346,400
Interest Rate Swap | Minimum
Derivatives, Fair Value [Line Items]
Notional Amount					$ 24,936,799
(LIBOR) | Interest Rate Swap | Minimum
Derivatives, Fair Value [Line Items]
Derivative, Fixed Interest Rate	4.05%		4.05%		4.05%	4.05%
(LIBOR) | Interest Rate Swap | Maximum
Derivatives, Fair Value [Line Items]
Derivative, Fixed Interest Rate	5.16%		5.16%		5.16%	4.34%

RELATED PARTY TRANSACTIONS - Re

RELATED PARTY TRANSACTIONS - Related Party Costs (FY) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Receivable	$ 4,236		$ 4,236		$ 16,838	$ 34,194
Payable	30,282		30,282		979,174	907,377
Asset management fees
Related Party Transaction [Line Items]
Related Party Transaction, Other Revenues from Transactions with Related Party	680,018	$ 477,915	1,360,037	$ 879,230
Incurred					2,004,760	872,281
Receivable	0		0		0	0
Payable	0		0		0	567,661
Subordinated participation fees
Related Party Transaction [Line Items]
Incurred					839,050	315,802
Receivable	0		0		0	0
Payable	0		0		839,050	315,802
Fees to affiliates
Related Party Transaction [Line Items]
Incurred					2,843,810	1,188,083
Receivable					0	0
Payable					0	0
Property management fees
Related Party Transaction [Line Items]
Incurred					174,529	20,251
Receivable	0		0		0	0
Payable	0		0		96,792	7,969
Directors and officers insurance and other reimbursements
Related Party Transaction [Line Items]
Incurred					128,512	0
Receivable					0	0
Payable					30,164	0
Expense reimbursements from Sponsor
Related Party Transaction [Line Items]
Incurred					1,136,469	2,324,598
Receivable	4,236		4,236		16,838	34,194
Payable	2,313		2,313		0	0
Waiver of asset management fees
Related Party Transaction [Line Items]
Related Party Transaction, Other Revenues from Transactions with Related Party	0			$ 0		143,540
Incurred					0	143,540
Receivable					0	0
Payable					0	0
Waiver of Assets Management Fees Not Subject To Recoupment
Related Party Transaction [Line Items]
Related Party Transaction, Other Revenues from Transactions with Related Party					0	143,540
Acquisition fees
Related Party Transaction [Line Items]
Incurred					2,752,339	3,661,684
Receivable	0		0		0	0
Payable	0		0		0	0
Financing coordination fees
Related Party Transaction [Line Items]
Incurred					262,050	326,600
Receivable	0		0		0	0
Payable	0		0		0	0
Reimbursable organizational and offering expenses
Related Party Transaction [Line Items]
Incurred			5,120,687		1,503,062	1,986,147
Receivable	0		0		0	0
Payable	$ 27,969		$ 27,969		13,168	15,945
Due to REIT I
Related Party Transaction [Line Items]
Incurred					0	48,418
Receivable					0	0
Payable					0	0
Payable to TIC
Related Party Transaction [Line Items]
Incurred					0	363,168
Receivable					0	0
Payable					$ 0	$ 0

RELATED PARTY TRANSACTIONS (F_3

RELATED PARTY TRANSACTIONS (FY) (Details)	1 Months Ended	3 Months Ended		6 Months Ended		7 Months Ended	12 Months Ended
	Jan. 31, 2019	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Aug. 02, 2018	Dec. 31, 2018USD ($)properties	Dec. 31, 2017USD ($)properties
Related Party Transaction [Line Items]
Accrual organization and offering cost, related party							$ 8,442,205
Payable		$ 30,282		$ 30,282			$ 979,174	$ 907,377
Property management fees percentage				1.50%			1.50%
Number of real estate properties the Company provides property management services for | properties							10	5
Leasing commissions and fees, percentage of rents				6.00%			6.00%
Leasing commission fee, renewal rate				3.00%			3.00%
Related party transactions, expense reimbursement, as a percentage of average invested assets				2.00%			2.00%
Related party transaction, expense reimbursement as a percentage of net income				25.00%			25.00%
REIT I [Member]
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							$ 71,177	$ 88,291
Advisor
Related Party Transaction [Line Items]
Financing coordination fees percentage				1.00%			1.00%
Santa Clara
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							$ 191,907	675,108
Waiver of asset management fees
Related Party Transaction [Line Items]
Asset management fees waived by Advisor							0.025%
Related Party Transaction, Other Revenues from Transactions with Related Party		0			$ 0			143,540
Expenses incurred from related party transactions							$ 0	143,540
Payable							$ 0	0
Monthly asset management fees waive percentage				0.025%			0.025%
Waiver of Assets Management Fees Not Subject To Recoupment
Related Party Transaction [Line Items]
Related Party Transaction, Other Revenues from Transactions with Related Party							$ 0	143,540
Financing coordination fees
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							262,050	326,600
Payable		0		$ 0			$ 0	0
Property Selling Fee
Related Party Transaction [Line Items]
Related party transaction, fees, percentage of contract purchase price				3.00%			3.00%
Due To Rich Uncles Reit I
Related Party Transaction [Line Items]
Expenses incurred from related party transactions								48,418
Payable to TIC
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							$ 0	363,168
Payable							0	0
Reimbursable organizational and offering expenses
Related Party Transaction [Line Items]
Expenses incurred from related party transactions				$ 5,120,687			1,503,062	1,986,147
Accrual organization and offering cost		5,092,718		5,092,718			4,215,004
Payable		27,969		$ 27,969			$ 13,168	15,945
Reimbursable organizational and offering expenses | Sponsor
Related Party Transaction [Line Items]
Gross Offering Proceeds Percentage				3.00%			0.00%
Payroll Expense Reimbursement from Sponsor
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							$ 875,100	2,324,598
Advisor fees, Acquisition fees
Related Party Transaction [Line Items]
Related party transaction, fees, percentage of contract purchase price	0.10%			3.00%		3.00%	0.10%
Asset Management Fees
Related Party Transaction [Line Items]
Related Party Transaction, Other Revenues from Transactions with Related Party		680,018	$ 477,915	$ 1,360,037	$ 879,230
Expenses incurred from related party transactions							$ 2,004,760	872,281
Payable		0		0			0	567,661
Expense reimbursements from Sponsor
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							1,136,469	2,324,598
Payable		2,313		$ 2,313			$ 0	0
Disposition Fees
Related Party Transaction [Line Items]
Related party transaction, fees, percentage of contract purchase price				6.00%			6.00%
Advisor fees, Asset management fees | REIT I [Member]
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							$ 38,903	33,376
Advisor fees, Asset management fees | Santa Clara
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							191,907	49,035
Other
Related Party Transaction [Line Items]
Payable		0		$ 0			0
Other | REIT I [Member]
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							32,274	20,972
Capitalized Acquisition Fees
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							2,752,339	3,661,684
Payable		0		0			0	0
Capitalized Acquisition Fees | REIT I [Member]
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							0	29,536
Capitalized Acquisition Fees | Santa Clara
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							0	626,073
Subordinated participation fees
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							839,050	315,802
Payable		$ 0		$ 0			839,050	315,802
Financing Coordination Fee | REIT I [Member]
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							0	4,407
Due To Affiliates | Reimbursable organizational and offering expenses
Related Party Transaction [Line Items]
Payable							13,168
Due From Affiliates | Expense reimbursements from Sponsor
Related Party Transaction [Line Items]
Expenses incurred from related party transactions							261,370
Maximum | Reimbursable organizational and offering expenses
Related Party Transaction [Line Items]
Payable							$ 4,228,172
Maximum | Advisor fees, Acquisition fees
Related Party Transaction [Line Items]
Related party transaction, fees, percentage of contract purchase price				6.00%			6.00%
Directors Not Including Executive Officers
Related Party Transaction [Line Items]
Payments to independent member of Company's board of directors for services rendered							$ 167,835	$ 163,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (FY) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2019
COMMITMENTS AND CONTINGENCIES [Line Items]
Percentage of Share in Property Owned	72.70%	72.70%
Restricted cash	$ 3,503,242	$ 944,582	$ 156,046
Lease Agreements
COMMITMENTS AND CONTINGENCIES [Line Items]
Obligation amount to pay for site and tenant improvements	3,789,091	1,899,485	401,392
Restricted cash	$ 3,486,927	$ 944,582	$ 99,228

SUBSEQUENT EVENTS (FY) (Details

SUBSEQUENT EVENTS (FY) (Details) - USD ($)	Mar. 12, 2019	Mar. 07, 2019	Aug. 31, 2019	Aug. 12, 2019	Mar. 31, 2019	Feb. 28, 2019	Jan. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Sep. 25, 2019	Aug. 26, 2019	May 31, 2019	Apr. 30, 2019	Feb. 28, 2018	Feb. 01, 2018
Subsequent Event [Line Items]
Proceeds from issuance of common stock and investor deposits											$ 26,340,968	$ 24,551,789	$ 44,223,885	$ 62,555,554
Dividends Amount Per Share Per Day								$ 0.00188113					$ 0.00188113
Repurchases of common stock													$ (8,688,479)	(2,472,571)
Dividends								$ 748,674	$ 2,605,268	$ 1,864,493	$ 4,993,962	$ 4,037,688	$ 8,281,817	3,800,625
Maximum Borrowing Capacity																		$ 10,000,000
Subsequent Event
Subsequent Event [Line Items]
Dividends Amount Per Share Per Day					$ 0.00192740	$ 0.00209375	$ 0.00189113		$ 0.00192740		$ 0.00192740				$ 0.00189113	$ 0.00189113	$ 0.00192740	$ 0.00192740
Redemption of common stock ( In shares)					(41,100)	(124,258)	(59,431)
Repurchases of common stock					$ (408,661)	$ (1,236,669)	$ (599,916)
Dividends						$ 795,959	771,806
Common Class C | Subsequent Event
Subsequent Event [Line Items]
Common Stock, Shares, Issued (In Shares)						14,976,828
Proceeds from issuance of common stock and investor deposits						$ 150,121,913
Redemption of common stock ( In shares)			(178,005)	(82,525)
Repurchases of common stock			$ (1,769,216)	$ (822,829)
Common Class S | Subsequent Event
Subsequent Event [Line Items]
Common Stock, Shares, Issued (In Shares)						113,312
Proceeds from issuance of common stock and investor deposits						$ 1,149,162
Distribution Reinvestment Plan
Subsequent Event [Line Items]
Dividends								$ 571,882
Distribution Reinvestment Plan | Subsequent Event
Subsequent Event [Line Items]
Dividends						$ 605,275	$ 587,707
Distribution Reinvestment Plan | Common Class C | Subsequent Event
Subsequent Event [Line Items]
Common Stock, Shares, Issued (In Shares)						1,017,841
Proceeds from issuance of common stock and investor deposits						$ 10,225,876
Distribution Reinvestment Plan | Common Class S | Subsequent Event
Subsequent Event [Line Items]
Common Stock, Shares, Issued (In Shares)						318
Proceeds from issuance of common stock and investor deposits						$ 3,210
24 Hour Fitness
Subsequent Event [Line Items]
Effective Interest Rate ( as a percent)								6.56%					6.56%
24 Hour Fitness | Subsequent Event
Subsequent Event [Line Items]
Face value		$ 6,350,000
Debt Instrument, Interest Rate, Stated Percentage		4.64%
Debt Instrument, Fee Amount		$ 63,500
Debt Instrument, Term		11 years
Texas Health
Subsequent Event [Line Items]
Effective Interest Rate ( as a percent)								6.56%	6.56%		6.56%		6.56%
Texas Health | Subsequent Event
Subsequent Event [Line Items]
Repayments of Debt	$ 4,842,500
Mortgages
Subsequent Event [Line Items]
Face value								$ 125,022,937					$ 125,022,937	$ 62,228,409
Mortgages | 24 Hour Fitness | Subsequent Event
Subsequent Event [Line Items]
Face value		$ 6,350,000
Unsecured Credit Facility | New Credit Facility
Subsequent Event [Line Items]
Maximum Borrowing Capacity																			$ 9,000,000	$ 9,000,000

BUSINESS AND ORGANIZATION - Nar

BUSINESS AND ORGANIZATION - Narrative (Q2) (Details)	Aug. 11, 2017shares	Dec. 31, 2015$ / sharesshares	Jun. 24, 2015$ / sharesshares	Jun. 30, 2019USD ($)Property$ / sharesshares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)Property$ / sharesshares	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)properties$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016shares	Dec. 31, 2015$ / sharesshares	Jan. 14, 2019$ / shares	Jan. 19, 2018$ / shares	Jan. 18, 2018$ / shares	Jul. 15, 2015USD ($)shares
Business And Organisation [Line Items]
Authority to issue of common stock (in shares)				450,000,000		450,000,000		450,000,000
Par value ( usd per share ) | $ / shares								$ 0.001
Shares authorized ( in shares )				50,000,000		50,000,000		50,000,000	50,000,000
Par value (USD Per Share) | $ / shares				$ 0.001		$ 0.001		$ 0.001	$ 0.001
Issuance of common stock | $				$ 13,848,287	$ 12,879,345	$ 30,005,491	$ 27,220,462	$ 50,101,989	$ 66,204,898
Net asset value (in USD per share) | $ / shares												$ 10.16
Number of real estate properties				24		24		24
Operating Partnership [Member]
Business And Organisation [Line Items]
Ownership interest (as a percent)						99.00%		99.00%
Ownership interest (as a percent)						1.00%		1.00%
Minimum
Business And Organisation [Line Items]
Net asset value (in USD per share) | $ / shares													$ 10.05
Maximum
Business And Organisation [Line Items]
Net asset value (in USD per share) | $ / shares													10.16
Tenant-in-common | Real Estate Investment
Business And Organisation [Line Items]
Ownership percentage ( as a percent )				72.70%		72.70%		72.70%
Affiliated REIT [Member] | Real Estate Investment
Business And Organisation [Line Items]
Ownership percentage ( as a percent )				4.80%		4.80%		4.80%
Common Class C
Business And Organisation [Line Items]
Authority to issue of common stock (in shares)				300,000,000		300,000,000
Shares authorized ( in shares )				300,000,000		300,000,000		300,000,000	200,000,000
Par value ( usd per share ) | $ / shares				$ 0.001		$ 0.001		$ 0.001	$ 0.001
Common Class C | Minimum
Business And Organisation [Line Items]
Issuance of common stock (in shares)						500				500
Common Class S
Business And Organisation [Line Items]
Authority to issue of common stock (in shares)				100,000,000		100,000,000
Shares authorized ( in shares )	100,000,000			100,000,000		100,000,000		100,000,000	100,000,000						10,000,000
Par value ( usd per share ) | $ / shares				$ 0.001		$ 0.001		$ 0.001	$ 0.001
Issuance of common stock (in shares)	100,000,000							17,588
Net asset value (in USD per share) | $ / shares												$ 10.16	$ 10.05	$ 10.16
Outstanding shares (in shares)				166,448		166,448
Preferred Stock
Business And Organisation [Line Items]
Shares authorized ( in shares )				50,000,000		50,000,000
Par value (USD Per Share) | $ / shares				$ 0.001		$ 0.001
Sponsor
Business And Organisation [Line Items]
Issuance of common stock (in shares)		10,000	10,000
Shares issued (in USD per share) | $ / shares		$ 10	$ 10								$ 10
Sponsor | Common Class C
Business And Organisation [Line Items]
Issuance of common stock (in shares)						10,740		10,740			20,000
IPO
Business And Organisation [Line Items]
Common stock | $															$ 90,000,000
DRP Offering
Business And Organisation [Line Items]
Common stock | $															$ 10,000,000
DRP Offering | Common Class C
Business And Organisation [Line Items]
Issuance of common stock (in shares)						16,834,959		14,027,968
Issuance of common stock | $						$ 169,200,530		$ 140,507,461
DRP Offering | Common Class S
Business And Organisation [Line Items]
Issuance of common stock (in shares)						1,154		167
Issuance of common stock | $						$ 1,689,029		$ 176,604
DRP Offering | Distribution Reinvestment Plan | Common Class C
Business And Organisation [Line Items]
Issuance of common stock (in shares)						1,263,675		903,901
Retail
Business And Organisation [Line Items]
Number of real estate properties				9		9		10
Office
Business And Organisation [Line Items]
Number of real estate properties				10		10		9
Industrial Property [Member]
Business And Organisation [Line Items]
Number of real estate properties				5		5		5
Land
Business And Organisation [Line Items]
Number of real estate properties				1		1		1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Line Items]
Restricted Cash	$ 156,046		$ 156,046		$ 3,503,242	$ 944,582
Tenant Reimbursement			156,046		3,535,163
Payments for Tenant Improvements	1,098,603	$ 732,934	2,186,463	$ 1,261,519	3,535,163	1,899,485
Restricted Cash and Cash Equivalents	$ 156,046		$ 156,046		$ 3,503,242	$ 944,582
Net loss per share, basic and diluted ( in USD per share )	$ (0.08)	$ (0.02)	$ (0.14)	$ (0.02)	$ (0.16)	$ (0.15)
Release Of Restricted Cash	$ 3,387,699
Lease Agreements
Accounting Policies [Line Items]
Restricted Cash and Cash Equivalents	99,228		$ 99,228		$ 3,486,927	$ 944,582
Other Commitment	$ 401,392		$ 401,392		$ 3,789,091	$ 1,899,485
Common Class C
Accounting Policies [Line Items]
Net loss per share, basic and diluted ( in USD per share )	$ (0.06)	(0.02)	$ (0.13)	(0.02)
Common Class S
Accounting Policies [Line Items]
Net loss per share, basic and diluted ( in USD per share )	$ (0.10)	$ (0.07)	$ (0.18)	$ (0.11)
Santa Clara Property | Lease Agreements
Accounting Policies [Line Items]
Ownership percentage ( as a percent )	72.70%		72.70%		72.70%

CONDENSED CONSOLIDATED BALANC_5

CONDENSED CONSOLIDATED BALANCE SHEETS DETAILS - Narative (Q2) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Tenant receivables:
Straight-line rent	$ 2,915,852	$ 2,231,966	$ 995,822
Tenant rent	76	312,171	27,460
Tenant reimbursements	1,065,650	1,019,355	239,813
Tenant other	164,761	95,622	0
Total	4,146,339	3,659,114	1,263,095
Accounts payable, accrued and other liabilities:
Accounts payable	470,188	227,793	244,430
Accrued expenses	1,612,897	1,421,197	568,881
Accrued dividends	896,291	749,170	2,427
Accrued interest payable	429,256	445,481	186,841
Unearned rent	749,865	827,338	548,266
Deferred commission payable	1,350	1,650
Tenant improvement obligation	104,385	3,492,084	858,389
Total	$ 4,264,232	$ 7,164,713	$ 2,411,484

REAL ESTATE INVESTMENTS, NET -

REAL ESTATE INVESTMENTS, NET - Property (Q2) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate [Line Items]
Land, Buildings and Improvements	$ 217,494,190	$ 217,494,190
Tenant origination and absorption costs	17,717,819	17,717,819	$ 8,340,774
Accumulated Depreciation and Amortization	(15,346,655)	(10,563,664)	(3,574,739)	$ (493,185)
Total investments in real estate property, net	219,865,354	224,648,345	$ 135,235,616
Land | Northrop Grumman Parcel
Real Estate [Line Items]
Land, Buildings and Improvements	329,410
Tenant origination and absorption costs	0
Accumulated Depreciation and Amortization	0
Total investments in real estate property, net	329,410
Office | Accredo Health
Real Estate [Line Items]
Land, Buildings and Improvements	9,855,847
Tenant origination and absorption costs	1,053,637
Accumulated Depreciation and Amortization	(1,516,731)
Total investments in real estate property, net	9,392,753
Office | Northrop Grumman
Real Estate [Line Items]
Land, Buildings and Improvements	12,382,991	12,382,991
Tenant origination and absorption costs	1,341,199	1,341,199
Accumulated Depreciation and Amortization	(1,794,441)	(1,402,927)
Total investments in real estate property, net	11,929,749	12,321,263
Office | exp US Services
Real Estate [Line Items]
Land, Buildings and Improvements	5,920,121	5,920,121
Tenant origination and absorption costs	388,248	388,248
Accumulated Depreciation and Amortization	(497,611)	(389,042)
Total investments in real estate property, net	5,810,758	5,919,327
Office | Wyndham
Real Estate [Line Items]
Land, Buildings and Improvements	10,406,483	10,406,483
Tenant origination and absorption costs	669,232	669,232
Accumulated Depreciation and Amortization	(638,485)	(461,240)
Total investments in real estate property, net	10,437,230	10,614,475
Office | Williams Sonoma
Real Estate [Line Items]
Land, Buildings and Improvements	8,079,612	8,079,612
Tenant origination and absorption costs	550,486	550,486
Accumulated Depreciation and Amortization	(591,123)	(435,346)
Total investments in real estate property, net	8,038,975	8,194,752
Office | EMCOR
Real Estate [Line Items]
Land, Buildings and Improvements	5,960,610	5,960,610
Tenant origination and absorption costs	463,488	463,488
Accumulated Depreciation and Amortization	(335,108)	(245,453)
Total investments in real estate property, net	6,088,990	6,178,645
Office | 3M
Real Estate [Line Items]
Land, Buildings and Improvements	14,762,819
Tenant origination and absorption costs	2,356,361
Accumulated Depreciation and Amortization	(1,608,573)
Total investments in real estate property, net	15,510,607
Office | Cummins
Real Estate [Line Items]
Land, Buildings and Improvements	14,465,491
Tenant origination and absorption costs	1,536,998
Accumulated Depreciation and Amortization	(960,095)
Total investments in real estate property, net	15,042,394
Office | Texas Health
Real Estate [Line Items]
Land, Buildings and Improvements	6,976,703	6,976,703
Tenant origination and absorption costs	713,221	713,221
Accumulated Depreciation and Amortization	(235,372)	(86,716)
Total investments in real estate property, net	7,454,552	7,603,208
Office | Bon Secours
Real Estate [Line Items]
Land, Buildings and Improvements	10,042,551	10,042,551
Tenant origination and absorption costs	800,356	800,356
Accumulated Depreciation and Amortization	(308,484)	(90,731)
Total investments in real estate property, net	10,534,423	10,752,176
Office | Costco
Real Estate [Line Items]
Land, Buildings and Improvements	27,263,632
Tenant origination and absorption costs	2,765,136
Accumulated Depreciation and Amortization	(702,672)
Total investments in real estate property, net	29,326,096
Retail | Walgreens
Real Estate [Line Items]
Land, Buildings and Improvements	4,147,948
Tenant origination and absorption costs	705,423
Accumulated Depreciation and Amortization	(997,540)
Total investments in real estate property, net	3,855,831
Retail | Dollar General One
Real Estate [Line Items]
Land, Buildings and Improvements	1,281,812
Tenant origination and absorption costs	116,302
Accumulated Depreciation and Amortization	(105,640)
Total investments in real estate property, net	1,292,474
Retail | Dollar General Two
Real Estate [Line Items]
Land, Buildings and Improvements	1,543,776
Tenant origination and absorption costs	140,653
Accumulated Depreciation and Amortization	(135,196)
Total investments in real estate property, net	1,549,233
Retail | Dollar General Three
Real Estate [Line Items]
Land, Buildings and Improvements	1,199,860
Tenant origination and absorption costs	106,730
Accumulated Depreciation and Amortization	(101,501)
Total investments in real estate property, net	1,205,089
Retail | Dollar General Four
Real Estate [Line Items]
Land, Buildings and Improvements	1,174,188
Tenant origination and absorption costs	111,847
Accumulated Depreciation and Amortization	(97,316)
Total investments in real estate property, net	1,188,719
Retail | Dollar General Five
Real Estate [Line Items]
Land, Buildings and Improvements	1,112,872
Tenant origination and absorption costs	100,857
Accumulated Depreciation and Amortization	(99,877)
Total investments in real estate property, net	1,113,852
Retail | Dollar General Six
Real Estate [Line Items]
Land, Buildings and Improvements	1,102,086
Tenant origination and absorption costs	86,408
Accumulated Depreciation and Amortization	(97,041)
Total investments in real estate property, net	1,091,453
Retail | Harley
Real Estate [Line Items]
Land, Buildings and Improvements	13,178,288	13,178,288
Tenant origination and absorption costs	0	0
Accumulated Depreciation and Amortization	(734,877)	(562,523)
Total investments in real estate property, net	12,443,411	12,615,765
Retail | 24 Hour Fitness
Real Estate [Line Items]
Land, Buildings and Improvements	11,453,337
Tenant origination and absorption costs	1,204,973
Accumulated Depreciation and Amortization	(428,401)
Total investments in real estate property, net	12,229,909
Retail | Costco
Real Estate [Line Items]
Land, Buildings and Improvements		27,263,632
Tenant origination and absorption costs		2,765,136
Accumulated Depreciation and Amortization		(54,052)
Total investments in real estate property, net		29,974,716
Industrial | Dana
Real Estate [Line Items]
Land, Buildings and Improvements	8,392,906	8,392,906
Tenant origination and absorption costs	1,210,874	1,210,874
Accumulated Depreciation and Amortization	(1,246,883)	(1,001,594)
Total investments in real estate property, net	8,356,897	8,602,186
Industrial | Omnicare
Real Estate [Line Items]
Land, Buildings and Improvements	7,262,747	7,262,747
Tenant origination and absorption costs	281,442	281,442
Accumulated Depreciation and Amortization	(465,575)	(343,275)
Total investments in real estate property, net	7,078,614	7,200,914
Industrial | Husqvarna
Real Estate [Line Items]
Land, Buildings and Improvements	11,840,200	11,840,200
Tenant origination and absorption costs	1,013,948	1,013,948
Accumulated Depreciation and Amortization	(578,086)	(399,615)
Total investments in real estate property, net	12,276,062	12,454,533
Industrial | AvAir
Real Estate [Line Items]
Land, Buildings and Improvements	27,357,900	27,357,900
Tenant origination and absorption costs	0	0
Accumulated Depreciation and Amortization	(1,070,027)	(722,991)
Total investments in real estate property, net	$ 26,287,873	$ 26,634,909

REAL ESTATE INVESTMENTS, NET _3

REAL ESTATE INVESTMENTS, NET - Acquisitions (Q2) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Payments to Acquire Real Estate	$ 32,033,596
3M
Real Estate [Line Items]
Payments to Acquire Real Estate	15,701,697
Cummins
Real Estate [Line Items]
Payments to Acquire Real Estate	16,002,489
Northrop Grumman Parcel
Real Estate [Line Items]
Payments to Acquire Real Estate	329,410
Land
Real Estate [Line Items]
Payments to Acquire Real Estate	4,436,149
Land | 3M
Real Estate [Line Items]
Payments to Acquire Real Estate	758,780
Land | Cummins
Real Estate [Line Items]
Payments to Acquire Real Estate	3,347,959
Land | Northrop Grumman Parcel
Real Estate [Line Items]
Payments to Acquire Real Estate	329,410
Buildings and Improvements
Real Estate [Line Items]
Payments to Acquire Real Estate	25,121,571
Buildings and Improvements | 3M
Real Estate [Line Items]
Payments to Acquire Real Estate	14,004,039
Buildings and Improvements | Cummins
Real Estate [Line Items]
Payments to Acquire Real Estate	11,117,532
Buildings and Improvements | Northrop Grumman Parcel
Real Estate [Line Items]
Payments to Acquire Real Estate	0
Tenant Origination and Absorption Costs
Real Estate [Line Items]
Payments to Acquire Real Estate	3,893,359
Tenant Origination and Absorption Costs | 3M
Real Estate [Line Items]
Payments to Acquire Real Estate	2,356,361
Tenant Origination and Absorption Costs | Cummins
Real Estate [Line Items]
Payments to Acquire Real Estate	1,536,998
Tenant Origination and Absorption Costs | Northrop Grumman Parcel
Real Estate [Line Items]
Payments to Acquire Real Estate	0
Below- Market Lease Intangibles
Real Estate [Line Items]
Payments to Acquire Real Estate	(1,417,483)	$ (1,417,483)	$ (1,502,161)
Below- Market Lease Intangibles | 3M
Real Estate [Line Items]
Payments to Acquire Real Estate	(1,417,483)
Below- Market Lease Intangibles | Cummins
Real Estate [Line Items]
Payments to Acquire Real Estate	0
Below- Market Lease Intangibles | Northrop Grumman Parcel
Real Estate [Line Items]
Payments to Acquire Real Estate	$ 0

REAL ESTATE INVESTMENTS, NET _4

REAL ESTATE INVESTMENTS, NET - Purchase Price (Q2) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Abstract]
Purchase price	$ 32,033,596	$ 224,648,345
Acquisition fees to affiliate	(930,000)
Cash paid for acquisition of real estate investments	$ 31,103,596	$ 90,551,462	$ 100,458,868

REAL ESTATE INVESTMENTS, NET _5

REAL ESTATE INVESTMENTS, NET - Acquisition Fees (Q2) (Details)	6 Months Ended
	Jun. 30, 2018USD ($)
Real Estate [Line Items]
Acquisition Related Costs	$ 930,000
3M
Real Estate [Line Items]
Acquisition Related Costs	456,000
Cummins
Real Estate [Line Items]
Acquisition Related Costs	465,000
Northrop Grumman Parcel
Real Estate [Line Items]
Acquisition Related Costs	$ 9,000

REAL ESTATE INVESTMENTS, NET _6

REAL ESTATE INVESTMENTS, NET - Rental Payments for Operating Leases (Q2) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
July through December 2019	$ 8,838,687
2020	17,834,035	$ 17,588,378
2021	16,752,518	17,834,035
2022	15,520,338	16,752,518
2023	13,317,933	15,520,338
2024	12,958,858	13,317,933
Thereafter	46,224,832	59,183,690
Total	$ 131,447,201	$ 140,196,892

REAL ESTATE INVESTMENTS, NET _7

REAL ESTATE INVESTMENTS, NET - Revenue Concentration (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Revenues					$ 17,984,625	$ 7,390,206
Costco
Real Estate [Line Items]
Revenues	$ 697,522	$ 0	$ 1,376,025	$ 0
Percent of total	11.80%	0.00%	11.70%	0.00%
AvAir, AZ [Member]
Real Estate [Line Items]
Revenues	$ 666,774	$ 653,374	$ 1,333,549	$ 1,289,146	$ 2,670,159	$ 2,100,000
Percent of total	11.30%	14.90%	11.30%	16.40%	14.80%	19.90%
Northrop Grumman, FL [Member]
Real Estate [Line Items]
Revenues	$ 0	$ 506,229
Percent of total	0.00%	11.50%

REAL ESTATE INVESTMENTS, NET _8

REAL ESTATE INVESTMENTS, NET - Asset Concentration (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Total Investment in Real Estate Property, Net	$ 219,865,354		$ 219,865,354		$ 224,648,345	$ 135,235,616
Costco
Real Estate [Line Items]
Percent of total	11.80%	0.00%	11.70%	0.00%
Costco | Assets
Real Estate [Line Items]
Total Investment in Real Estate Property, Net	$ 29,326,096		$ 29,326,096		$ 29,974,716	$ 0
Percent of total			11.70%		11.90%	0.00%
AvAir, Chandler, AZ | Assets
Real Estate [Line Items]
Total Investment in Real Estate Property, Net	$ 26,287,873		$ 26,287,873		$ 26,634,909
Percent of total			10.50%		10.60%

REAL ESTATE INVESTMENTS, NET _9

REAL ESTATE INVESTMENTS, NET - Intangible Assets (Q2) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Tenant Origination and Absorption Costs
Real Estate [Line Items]
Cost	$ 17,717,819	$ 17,717,819	$ 8,340,774
Accumulated amortization	(4,569,358)	(3,173,254)	(1,192,318)
Net amount	13,148,461	14,544,565	7,148,456
Above-Market Lease Intangibles
Real Estate [Line Items]
Cost	783,115	783,115	783,115
Accumulated amortization	(247,390)	(198,867)	(101,822)
Net amount	535,725	584,248	681,293
Below-Market Lease Intangibles
Real Estate [Line Items]
Net amount		2,595,382
Below-Market Lease Intangibles
Cost	(3,071,253)	(3,071,253)	(1,653,771)
Accumulated amortization	713,067	475,871	69,542
Net amount	$ (2,358,186)	$ (2,595,382)	$ (1,584,229)

REAL ESTATE INVESTMENTS, NET_10

REAL ESTATE INVESTMENTS, NET - Intangible Assets Amortization (Q2) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Below-Market Lease Intangibles
Weighted-Average Remaining Amortization Period ( in years )	7 years 4 months 10 days	7 years 7 months 6 days
Tenant Origination and Absorption Costs
Real Estate [Line Items]
July through December 2019	$ 1,396,105	$ 2,792,209
2020	2,792,209	2,792,209
2021	2,375,949	2,375,950
2022	1,839,880	1,839,880
2023	1,214,116	1,214,116
2024	1,066,544
Thereafter	2,463,658
Net amount	$ 13,148,461	$ 14,544,565	$ 7,148,456
Below-Market Lease Intangibles
Weighted-Average Remaining Amortization Period ( in years )	6 years 11 months 14 days	7 years 2 months 25 days
Above-Market Lease Intangibles
Real Estate [Line Items]
July through December 2019	$ 48,524	$ 97,045
2020	97,045	97,045
2021	78,994	78,994
2022	63,719	63,720
2023	63,719	63,719
2024	63,719
Thereafter	120,005
Net amount	$ 535,725	$ 584,248	681,293
Below-Market Lease Intangibles
Weighted-Average Remaining Amortization Period ( in years )	6 years 9 months	7 years 1 month 25 days
Below-Market Lease Intangibles
Real Estate [Line Items]
July through December 2019		$ 474,391
2020		474,391
2021		474,391
2022		306,829
2023		78,370
Net amount		2,595,382
Below-Market Lease Intangibles
July through December 2019	$ (237,195)
2020	(474,391)
2021	(474,391)
2022	(306,829)
2023	(78,369)
2024	(67,420)
Thereafter	(719,591)
Total	$ (2,358,186)	$ (2,595,382)	$ (1,584,229)
Weighted-Average Remaining Amortization Period ( in years )	9 years 8 months 22 days	9 years 9 months 18 days

REAL ESTATE INVESTMENTS, NET_11

REAL ESTATE INVESTMENTS, NET - Narrative (Q2) (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)StatesProperty	Dec. 31, 2018propertiesStates
Real Estate [Line Items]
Number of real estate properties		24	24
Number of States in which Entity Operates | States		13	13
Weighted-Average Remaining Amortization Period ( in years )		7 years 4 months 10 days	7 years 7 months 6 days
Acquisition fees
Real Estate [Line Items]
Fair Value of Assets Acquired	$ 906,155	$ 929,127
Retail
Real Estate [Line Items]
Number of real estate properties		9	10
Office
Real Estate [Line Items]
Number of real estate properties		10	9
Industrial Property [Member]
Real Estate [Line Items]
Number of real estate properties		5	5
Land
Real Estate [Line Items]
Number of real estate properties		1	1
Three M [Member]
Real Estate [Line Items]
Acquisition Related Costs		$ 49,507

INVESTMENTS IN UNCONSOLIDATED_9

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Investments (Q2) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Equity Method Investments	$ 13,987,073	$ 14,275,815	$ 14,524,022
RuMartin Street Santa Clara
Investment [Line Items]
Equity Method Investments	10,627,777	10,749,332
Rich Uncles Real Estate Investment Trust 1
Investment [Line Items]
Equity Method Investments	$ 3,359,296	$ 3,526,483

INVESTMENTS IN UNCONSOLIDATE_10

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Entities Equity In Earnings (Q2) (Details) - USD ($)	Jan. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Investment [Line Items]
Income from investments in unconsolidated entities, net		$ 55,955	$ 38,606	$ 129,988	$ 93,485	$ 226,024	$ 199,233
Payable to TIC [Member]
Investment [Line Items]
Income from investments in unconsolidated entities, net		71,703	70,907	152,063	120,687
Rich Uncles Real Estate Investment Trust 1
Investment [Line Items]
Income from investments in unconsolidated entities, net	$ 109,309	$ (15,748)	$ (32,301)	$ (22,075)	$ (27,202)	$ (43,167)	$ 169,195

INVESTMENTS IN UNCONSOLIDATE_11

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summarized Financial Information (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets:
Cash and cash equivalents and restricted cash	$ 10,791,300	$ 4,281,589	$ 10,791,300	$ 4,281,589	$ 8,755,928	$ 4,182,755	$ 3,677,373
RuMartin Street Santa Clara
Assets:
Real estate investments, net	31,172,028		31,172,028		31,668,300
Cash and cash equivalents	523,176		523,176		466,379
Other assets	183,352		183,352		117,075
Total assets	31,878,556		31,878,556		32,251,754
Liabilities:
Mortgage notes payable	13,871,312		13,871,312		13,994,844
Below-market lease, net	3,028,569		3,028,569		3,103,778
Other liabilities	53,779		53,779		61,188
Total liabilities	16,953,660		16,953,660		17,159,810
Total equity	14,924,896		14,924,896		15,091,944
Total liabilities, redeemable common stock and stockholders' equity	31,878,556		31,878,556		32,251,754
Total revenues	693,571	713,218	1,359,992	1,322,012
Expenses:
Depreciation and amortization	248,136	248,136	496,272	495,349
Interest expense	143,367	145,960	285,886	290,985
Other expenses	203,452	223,358	368,697	369,694
Total expenses	594,955	617,454	1,150,855	1,156,028
Total expenses
Net income	98,616	95,764	209,137	165,984
Rich Uncles Real Estate Investment Trust 1
Assets:
Real estate investments, net	120,644,631		120,644,631		125,075,537
Cash and cash equivalents and restricted cash	3,258,934		3,258,934		3,376,145
Other assets	2,647,717		2,647,717		3,070,475
Total assets	126,551,282		126,551,282		131,522,157
Liabilities:
Mortgage notes payable	62,033,836		62,033,836		61,446,068
Below-market lease, net	2,675,761		2,675,761		3,105,843
Other liabilities	1,535,864		1,535,864		3,359,618
Total liabilities	66,245,461		66,245,461		67,911,529
Redeemable common stock	0		0		163,572
Total equity	60,305,821		60,305,821		63,447,056
Total liabilities, redeemable common stock and stockholders' equity	126,551,282		126,551,282		$ 131,522,157
Total revenues	3,277,710	3,365,163	6,566,354	6,596,381
Expenses:
Depreciation and amortization	1,444,354	1,409,093	2,886,414	2,857,337
Interest expense	982,223	631,838	1,845,396	1,116,711
Impairment of real estate investment property	0	862,190	0	862,190
Other expenses	1,175,029	1,206,883	2,403,892	2,386,920
Total expenses	3,601,606	4,110,004	7,135,702	7,223,158
Total expenses
Other income:	0	0	113,773	0
Net income	$ (323,896)	(744,841)	$ (455,575)	$ (626,777)
Antioch, CA | Rich Uncles Real Estate Investment Trust 1
Expenses:
Impairment of real estate investment property		$ 862,190

INVESTMENTS IN UNCONSOLIDATE_12

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Narrative (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Sep. 28, 2017
Investment [Line Items]
Distributions	$ 75,746	$ 68,316	$ 145,112	$ 136,632
Rich Uncles Real Estate Investment Trust 1
Investment [Line Items]
Ownership percentage ( as a percent )	4.80%		4.80%		4.80%	4.40%	72.70%
Ownership Percentage by Noncontrolling Owners							27.30%
Dividends	$ 109,720	$ 136,849	$ 273,618	$ 316,535
Hagg Lane II, LLC | Rich Uncles Real Estate Investment Trust 1
Investment [Line Items]
Ownership Percentage by Noncontrolling Owners							23.40%
Hagg Lane III, LLC | Rich Uncles Real Estate Investment Trust 1
Investment [Line Items]
Ownership Percentage by Noncontrolling Owners							3.90%

DEBT - Schedule of Debt (Q2) (D

DEBT - Schedule of Debt (Q2) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Short Term Debt [LineItems]
Face Value	$ 117,132,085	$ 134,022,937
Deferred financing costs, net	$ (2,099,104)	$ (2,315,629)
Loans To Assets Ratio (as a percent)	60.00%	60.00%
Long-term Debt	$ 115,032,981	$ 131,707,308
Accredo/Walgreen properties
Short Term Debt [LineItems]
Face Value	$ 6,925,661	6,996,469
Contractual Interest Rate	3.95%
Effective Interest Rate	3.95%
Dana property
Short Term Debt [LineItems]
Face Value	$ 4,592,001	4,632,398
Contractual Interest Rate	4.56%
Effective Interest Rate	4.56%
Six Dollar General properties
Short Term Debt [LineItems]
Face Value	$ 3,852,196	3,885,334
Contractual Interest Rate	4.69%
Effective Interest Rate	4.69%
Wyndham property
Short Term Debt [LineItems]
Face Value	$ 5,769,600	5,820,600
Effective Interest Rate	4.34%
Williams Sonoma property
Short Term Debt [LineItems]
Face Value	$ 4,573,200	4,615,800
Effective Interest Rate	4.05%
Omnicare property
Short Term Debt [LineItems]
Face Value	$ 4,311,660	4,349,963
Contractual Interest Rate	4.36%
Effective Interest Rate	4.36%
Harley property
Short Term Debt [LineItems]
Face Value	$ 6,808,386	6,868,254
Contractual Interest Rate	4.25%
Effective Interest Rate	4.25%
Northrop Grumman property
Short Term Debt [LineItems]
Face Value	$ 5,738,558	5,809,367
Contractual Interest Rate	4.40%
Effective Interest Rate	4.40%
EMCOR property
Short Term Debt [LineItems]
Face Value	$ 2,887,126	2,911,577
Contractual Interest Rate	4.35%
Effective Interest Rate	4.35%
exp US Services property
Short Term Debt [LineItems]
Face Value	$ 3,416,049	3,446,493
Effective Interest Rate	4.25%
Husqvarna property
Short Term Debt [LineItems]
Face Value	$ 6,379,182	6,379,182
Effective Interest Rate	4.60%
AvAir property
Short Term Debt [LineItems]
Face Value	$ 14,575,000	14,575,000
Effective Interest Rate	4.84%
3M property
Short Term Debt [LineItems]
Face Value	$ 8,350,000	8,360,000
Effective Interest Rate	5.09%
Cummins property
Short Term Debt [LineItems]
Face Value	$ 8,519,800	8,530,000
Effective Interest Rate	5.16%
24 Hour Fitness
Short Term Debt [LineItems]
Face Value	$ 6,333,666	8,900,000
Contractual Interest Rate	4.64%
Effective Interest Rate	4.64%
Texas Health
Short Term Debt [LineItems]
Face Value	$ 0	$ 4,842,500	$ 0
Effective Interest Rate	6.56%	6.56%
Bon Secours
Short Term Debt [LineItems]
Face Value	$ 5,250,000	$ 5,250,000	0
Contractual Interest Rate	5.41%	5.41%
Effective Interest Rate	5.41%	5.41%
Costco
Short Term Debt [LineItems]
Face Value	$ 18,850,000	$ 18,850,000	0
Contractual Interest Rate	4.85%	4.85%
Effective Interest Rate	4.85%	4.85%
Husqvarna
Short Term Debt [LineItems]
Face Value		$ 6,379,182	0
Contractual Interest Rate	4.60%	4.60%
Effective Interest Rate		4.60%
AvAir
Short Term Debt [LineItems]
Face Value		$ 14,575,000	12,000,000
Contractual Interest Rate	4.84%	4.84%
Effective Interest Rate		4.84%
Treasury Bill Index | exp US Services property
Short Term Debt [LineItems]
Contractual Interest Rate	3.25%
Minimum | Treasury Bill Index | AvAir
Short Term Debt [LineItems]
Contractual Interest Rate	4.60%	4.60%
Maximum | Treasury Bill Index | Husqvarna
Short Term Debt [LineItems]
Contractual Interest Rate	2.45%
Maximum | Treasury Bill Index | AvAir
Short Term Debt [LineItems]
Contractual Interest Rate	2.45%	2.45%
Mortgages
Short Term Debt [LineItems]
Face Value	$ 117,132,085	$ 125,022,937	62,228,409
Deferred financing costs, net	(2,099,104)	(2,313,629)	(1,741,106)
Long-term Debt	$ 115,032,981	$ 122,709,308	$ 60,487,303

DEBT - Mortgage Loan Payable (Q

DEBT - Mortgage Loan Payable (Q2) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Face Value	$ 117,132,085	$ 134,022,937
Carrying Value	115,032,981	122,709,308
Fair Value	123,128,492	123,821,490
Mortgages
Debt Instrument [Line Items]
Face Value	$ 117,132,085	125,022,937	$ 62,228,409
Fair Value		$ 123,821,490	$ 62,363,284

DEBT - Maturities of Long-term

DEBT - Maturities of Long-term Debt (Q2) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
July through December 2019	$ 637,333	$ 23,852,271
2020	1,523,095	1,435,312
2021	8,223,343	8,130,359
2022	14,617,593	14,516,126
2023	21,247,852	21,115,026
2024	12,966,778
Thereafter	57,916,091
Total principal	117,132,085	134,022,937
Deferred financing costs, net	(2,099,104)	(2,315,629)
Net principal	115,032,981	131,707,308
Mortgage Note Payable
Debt Instrument [Line Items]
July through December 2019	637,333	14,852,271
2020	1,523,095	1,435,312
2021	8,223,343	8,130,359
2022	14,617,593	14,516,126
2023	21,247,852	21,115,026
2024	12,966,778
Thereafter	57,916,091
Total principal	117,132,085	125,022,937
Deferred financing costs, net	(2,099,104)	(2,313,629)
Net principal	115,032,981	122,709,308
Unsecured Credit Facility
Debt Instrument [Line Items]
July through December 2019	0	9,000,000
2020	0	0
2021	0	0
2022	0	0
2023	0	0
2024	0
Thereafter	0
Total principal	0	9,000,000
Deferred financing costs, net	0	(2,000)
Net principal	$ 0	$ 8,998,000

DEBT - Interest Expenses (Q2) (

DEBT - Interest Expenses (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Interest expense	$ 2,076,725	$ 1,203,260	$ 4,237,075	$ 2,293,876	$ 5,577,828	$ 1,637,984
Loss (gain) on interest rate swaps	553,490	6,235	874,016	(220,571)	157,613	(7,899)
Liabilities Accrued Interest Payable (Receivable)	4,208		4,208		5,950
Mortgage Note Payable
Debt Instrument [Line Items]
Interest expense	1,368,662	996,756	2,845,158	1,822,477	4,065,686	1,191,351
Amortization of deferred financing costs	109,071	98,648	379,593	505,534	897,535	168,546
Loss (gain) on interest rate swaps	562,571	15,877	890,385	(213,389)	261,198	(1,668)
Unsecured Credit Facility
Debt Instrument [Line Items]
Interest expense	27,918	83,408	111,436	166,397	323,409	248,637
Amortization of deferred financing costs	$ 8,503	$ 8,571	$ 10,503	$ 12,857	$ 30,000	$ 1,118

DEBT - Narative (Q2) (Details)

DEBT - Narative (Q2) (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Apr. 30, 2019	Feb. 28, 2018	Feb. 01, 2018
Debt Instrument [Line Items]
Maximum Borrowing Capacity					$ 10,000,000
Unsecured Debt	$ 0		$ 8,998,000	$ 12,000,000
Proceeds from Unsecured Lines of Credit	4,869,000	$ 9,000,000	36,450,000	55,390,000
Carrying Value Of Mortgage Loan	115,032,981		122,709,308
Repayments of Lines of Credit	13,869,000	$ 21,000,000	39,450,000	$ 53,547,803
Unsecured Credit Facility
Debt Instrument [Line Items]
Proceeds from Unsecured Lines of Credit	$ 0		$ 9,000,000
New Credit Facility | Unsecured Credit Facility
Debt Instrument [Line Items]
Maximum Borrowing Capacity						$ 9,000,000	$ 9,000,000
Line of Credit Facility, Interest Rate at Period End	6.50%
exp US Services property | Initial Contractual Interest One
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate at Period Start	4.25%
exp US Services
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.25%
AvAir
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.84%		4.84%
Bon Secours
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.41%		5.41%
Treasury Bill Index | exp US Services property
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Treasury Bill Index | exp US Services
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			3.25%
Minimum | Treasury Bill Index | AvAir
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.60%		4.60%

INTEREST RATE SWAP DERIVATIVE_8

INTEREST RATE SWAP DERIVATIVES - Derivative Instruments (Q2) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)Instrument	Dec. 31, 2018USD ($)Instrument	Dec. 31, 2017Instrument
Interest Rate Swap
Receivables with Imputed Interest [Line Items]
Number of Instruments | Instrument	4	4	2
Notional Amount	$ 27,212,600	$ 27,346,400
Fixed Interest Rate ( as a percent )	4.71%	4.73%	4.21%
Remaining Maturity ( in years )	4 years 6 months 19 days	5 years 1 month 12 days
Minimum
Receivables with Imputed Interest [Line Items]
Notional Amount	$ 24,967,299
Minimum | Interest Rate Swap
Receivables with Imputed Interest [Line Items]
Notional Amount		$ 24,936,799
(LIBOR) | Maximum | Interest Rate Swap
Receivables with Imputed Interest [Line Items]
Fixed Interest Rate ( as a percent )	5.16%	5.16%	4.34%
(LIBOR) | Minimum | Interest Rate Swap
Receivables with Imputed Interest [Line Items]
Fixed Interest Rate ( as a percent )	4.05%	4.05%	4.05%

INTEREST RATE SWAP DERIVATIVE_9

INTEREST RATE SWAP DERIVATIVES - Statement of FInancial Position (Q2) (Details)	Jun. 30, 2019USD ($)Instrument	Dec. 31, 2018USD ($)Instrument	Dec. 31, 2017USD ($)Instrument
Derivatives, Fair Value [Line Items]
Fair Value	$ 1,023,730	$ 300,929	$ 0
Fair Value	$ 0	$ 151,215	$ 7,899
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Number of Instruments | Instrument	4	4	2
Assets | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Number of Instruments | Instrument	0	2	2
Fair Value	$ 0	$ 151,215	$ 7,899
Liability | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Number of Instruments | Instrument	4	2	0
Fair Value	$ (1,023,730)	$ (300,929)	$ 0

INTEREST RATE SWAP DERIVATIV_10

INTEREST RATE SWAP DERIVATIVES - Narrative (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Loss (gain) on interest rate swaps	$ 553,490	$ 6,235	$ 874,016	$ (220,571)	$ 157,613	$ (7,899)

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - Related Party Transactions (Q2) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Expense Reimbursement Percentage to Average Invested Assets			2.00%		2.00%
Expense Reimbursement Percentage to Net Income			25.00%		25.00%
Rental income	$ 5,896,266	$ 4,383,966	$ 11,781,711	$ 7,841,944
Receivable	4,236		4,236		$ 16,838	$ 34,194
Payable	30,282		30,282		979,174	907,377
Asset Management Fees
Related Party Transaction [Line Items]
Incurred	680,019	477,915	1,360,037	879,230
Receivable	0		0		0	0
Payable	0		0		0	567,661
Subordinated participation fees
Related Party Transaction [Line Items]
Incurred	0	0	0	0
Receivable	0		0		0	0
Payable	0		0		839,050	315,802
Operating expense reimbursements
Related Party Transaction [Line Items]
Incurred	132,000	0	264,000	0
Receivable	0		0		0
Payable	0		0		0
Fees to affiliates
Related Party Transaction [Line Items]
Incurred	812,019	477,915	1,624,037	879,230
Receivable					0	0
Payable					0	0
Property management fees
Related Party Transaction [Line Items]
Incurred	56,122	19,212	112,072	32,151
Receivable	0		0		0	0
Payable	0		0		96,792	7,969
Directors and officers insurance and other reimbursements
Related Party Transaction [Line Items]
Incurred	70,785	36,083	133,675	52,716
Receivable	0		0		0
Payable	0		0		30,164
Expense reimbursements (from) to Sponsor
Related Party Transaction [Line Items]
Incurred	(148,233)	(293,939)	(236,232)	(653,453)
Receivable	4,236		4,236		16,838	34,194
Payable	2,313		2,313		0	0
Acquisition fees
Related Party Transaction [Line Items]
Incurred	0	496,358	0	952,358
Receivable	0		0		0	0
Payable	0		0		0	0
Financing coordination fees
Related Party Transaction [Line Items]
Incurred	0	0	63,500	209,550
Receivable	0		0		0	0
Payable	0		0		0	0
Reimbursable organizational and offering expenses
Related Party Transaction [Line Items]
Incurred	0	386,053	0	816,297
Receivable	0		0		0	0
Payable	27,969		27,969		13,168	15,945
Waiver of Assets Management Fees
Related Party Transaction [Line Items]
Receivable					0	0
Payable					$ 0	$ 0
Advisor | Waiver of Assets Management Fees
Related Party Transaction [Line Items]
Rental income	$ 47,977	$ 47,977	95,953	$ 95,953
Sponsor
Related Party Transaction [Line Items]
Reimbursements Expense			$ (40,915)

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narative (Q2) (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		7 Months Ended	12 Months Ended
	Jan. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Aug. 02, 2018	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Due to Related Parties		$ 30,282		$ 30,282			$ 979,174	$ 907,377
Property Management Fees (as a percent)				1.50%			1.50%
Revenue from Contract with Customer, Including Assessed Tax		5,896,266	$ 4,383,966	$ 11,781,711	$ 7,841,944
Leasing Commissions And Fees, Percentage				6.00%			6.00%
Leasing Commission Fee, Renewal Rate				3.00%			3.00%
Common Class C
Related Party Transaction [Line Items]
Stock Issued During Period		$ 55,000	$ 43,215	$ 105,000	$ 81,405
Stock Issued During Period (in shares)		5,414	4,300	10,335	8,100
Sponsor
Related Party Transaction [Line Items]
Reimbursements Expense				$ (40,915)
Organizational And Offering Costs Incurred				8,815,104
Employment Contracts
Related Party Transaction [Line Items]
Reimbursements Expense				$ 99,945
Advisor
Related Party Transaction [Line Items]
Financing Coordination Fees Percentage (as a percent)				1.00%			1.00%
Reimbursable organizational and offering expenses
Related Party Transaction [Line Items]
Accrual organization and offering cost		$ 5,092,718		$ 5,092,718			$ 4,215,004
Maximum liability for organizational and offering costs				5,120,687			1,503,062	1,986,147
Due to Related Parties		27,969		27,969			$ 13,168	15,945
Related Party Transaction Expenses		0	$ 386,053	$ 0	$ 816,297
Reimbursable organizational and offering expenses | Sponsor
Related Party Transaction [Line Items]
Gross Offering Proceeds Percentage				3.00%			0.00%
Waiver of Assets Management Fees
Related Party Transaction [Line Items]
Maximum liability for organizational and offering costs							$ 0	143,540
Due to Related Parties							$ 0	0
Payroll expense reimbursements with Related Party		0			0			143,540
Management Fees Waive Percentage (as a percent)				0.025%			0.025%
Waiver of Assets Management Fees | Advisor
Related Party Transaction [Line Items]
Revenue from Contract with Customer, Including Assessed Tax		47,977	47,977	$ 95,953	95,953
Financing coordination fees
Related Party Transaction [Line Items]
Maximum liability for organizational and offering costs							$ 262,050	326,600
Due to Related Parties		0		0			0	0
Related Party Transaction Expenses		0	0	63,500	209,550
Asset Management Fees
Related Party Transaction [Line Items]
Maximum liability for organizational and offering costs							2,004,760	872,281
Due to Related Parties		0		0			0	567,661
Payroll expense reimbursements with Related Party		680,018	477,915	1,360,037	879,230
Related Party Transaction Expenses		680,019	477,915	1,360,037	879,230
Subordinated participation fees
Related Party Transaction [Line Items]
Maximum liability for organizational and offering costs							839,050	315,802
Due to Related Parties		0		0			$ 839,050	$ 315,802
Related Party Transaction Expenses		0	0	0	0
Sponsor reimbursement
Related Party Transaction [Line Items]
Payroll expense reimbursements with Related Party		$ 143,997	$ 242,416	$ 272,911	$ 553,508
Advisor fees, Acquisition fees [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Rate	0.10%			3.00%		3.00%	0.10%
Property Selling Fee [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Rate				3.00%			3.00%
Disposition Fees [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Rate				6.00%			6.00%
Maximum | Reimbursable organizational and offering expenses
Related Party Transaction [Line Items]
Due to Related Parties							$ 4,228,172
Maximum | Advisor fees, Acquisition fees [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Rate				6.00%			6.00%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narative (Q2) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
COMMITMENTS AND CONTINGENCIES [Line Items]
Restricted Cash and Cash Equivalents	$ 156,046	$ 3,503,242	$ 944,582
Release Of Restricted Cash	3,387,699
Lease Agreements
COMMITMENTS AND CONTINGENCIES [Line Items]
Other Commitment	401,392	3,789,091	1,899,485
Restricted Cash and Cash Equivalents	$ 99,228	$ 3,486,927	$ 944,582
Lease Agreements | Santa Clara Property
COMMITMENTS AND CONTINGENCIES [Line Items]
Ownership percentage ( as a percent )	72.70%

SUBSEQUENT EVENTS - Narative (Q

SUBSEQUENT EVENTS - Narative (Q2) (Details) - USD ($)	Jul. 31, 2019	Aug. 31, 2019	Aug. 12, 2019	Jul. 31, 2019	Mar. 31, 2019	Feb. 28, 2019	Jan. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Sep. 25, 2019	Aug. 26, 2019	May 31, 2019	Apr. 30, 2019
Subsequent Event [Line Items]
Issuance of common stock								$ 13,848,287	$ 12,879,345	$ 30,005,491	$ 27,220,462	$ 50,101,989	$ 66,204,898
Payments to Acquire Real Estate										0	31,103,596	$ 87,064,535	100,458,868
Dividends Payable (in USD per share)												$ 0.00188113
Proceeds from Unsecured Lines of Credit										$ 4,869,000	$ 9,000,000	$ 36,450,000	55,390,000
Stock Redeemed or Called During Period, Value												$ 8,688,479	$ 2,472,571
Maximum Borrowing Capacity																	$ 10,000,000
Common Class C | Common Stock
Subsequent Event [Line Items]
Issuance of common stock (in shares)								1,329,089	1,281,493	2,806,991	2,710,514	4,972,792	6,617,457
Issuance of common stock								$ 1,329	$ 1,293	$ 2,807	$ 2,711	$ 4,972	$ 6,617
Stock Redeemed (in shares)												884,200	254,636
Stock Redeemed or Called During Period, Value												$ 884	$ 253
Subsequent Event
Subsequent Event [Line Items]
Dividends Payable (in USD per share)					$ 0.00192740	$ 0.00209375	$ 0.00189113	$ 0.00192740		$ 0.00192740				$ 0.00189113	$ 0.00189113	$ 0.00192740	$ 0.00192740
Stock Redeemed (in shares)					41,100	124,258	59,431
Stock Redeemed or Called During Period, Value					$ 408,661	$ 1,236,669	$ 599,916
Subsequent Event | Common Stock
Subsequent Event [Line Items]
Stock Issued During Period (in shares)				1,328,904
Stock Issued During Period				$ 13,386,283
Subsequent Event | Common Class C
Subsequent Event [Line Items]
Issuance of common stock (in shares)				17,264,957
Issuance of common stock				$ 173,569,307
Stock Redeemed (in shares)		178,005	82,525
Stock Redeemed or Called During Period, Value		$ 1,769,216	$ 822,829
Subsequent Event | Class S Common stock
Subsequent Event [Line Items]
Issuance of common stock (in shares)	166,712
Issuance of common stock	$ 1,691,705
Stock Issued During Period (in shares)	1,417
Stock Issued During Period	$ 14,377

Schedule III-Real Estate Asse_2

Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization - Schedule of Properties (FY) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate [Line Items]
Encumbrances		$ 125,022,937
Land		41,126,391
Buildings & Improvements		191,653,068
Total		232,779,459
Costs Capitalized Subsequent to Acquisition		2,432,550
Land		41,126,391
Buildings & Improvements		194,085,618
Total		235,212,009	$ 138,810,355	$ 33,245,041
Accumulated Depreciation and Amortization		(10,563,664)
Net	$ 32,033,596	224,648,345
Accredo
Real Estate [Line Items]
Encumbrances		4,837,224
Land		1,706,641
Buildings & Improvements		9,003,859
Total		10,710,500
Costs Capitalized Subsequent to Acquisition		198,986
Land		1,706,641
Buildings & Improvements		9,202,843
Total		10,909,484
Accumulated Depreciation and Amortization		(1,265,678)
Net		9,643,806
Walgreens
Real Estate [Line Items]
Encumbrances		2,159,245
Land		1,033,105
Buildings & Improvements		3,820,266
Total		4,853,371
Costs Capitalized Subsequent to Acquisition		0
Land		1,033,105
Buildings & Improvements		3,820,266
Total		4,853,371
Accumulated Depreciation and Amortization		(833,561)
Net		4,019,810
Dollar General
Real Estate [Line Items]
Encumbrances		645,791
Land		293,912
Buildings & Improvements		1,104,202
Total		1,398,114
Costs Capitalized Subsequent to Acquisition		0
Land		293,912
Buildings & Improvements		1,104,202
Total		1,398,114
Accumulated Depreciation and Amortization		(85,518)
Net		1,312,596
Dollar General
Real Estate [Line Items]
Encumbrances		651,085
Land		212,036
Buildings & Improvements		1,472,393
Total		1,684,429
Costs Capitalized Subsequent to Acquisition		0
Land		212,036
Buildings & Improvements		1,472,393
Total		1,684,429
Accumulated Depreciation and Amortization		(109,445)
Net		1,574,984
Dollar General
Real Estate [Line Items]
Encumbrances		651,085
Land		217,912
Buildings & Improvements		1,088,678
Total		1,306,590
Costs Capitalized Subsequent to Acquisition		0
Land		217,912
Buildings & Improvements		1,088,678
Total		1,306,590
Accumulated Depreciation and Amortization		(82,167)
Net		1,224,423
Dollar General
Real Estate [Line Items]
Encumbrances		645,791
Land		283,578
Buildings & Improvements		1,002,456
Total		1,286,034
Costs Capitalized Subsequent to Acquisition		0
Land		283,578
Buildings & Improvements		1,002,457
Total		1,286,035
Accumulated Depreciation and Amortization		(78,780)
Net		1,207,255
Dollar General
Real Estate [Line Items]
Encumbrances		645,791
Land		176,515
Buildings & Improvements		1,037,214
Total		1,213,729
Costs Capitalized Subsequent to Acquisition		0
Land		176,515
Buildings & Improvements		1,037,214
Total		1,213,729
Accumulated Depreciation and Amortization		(80,853)
Net		1,132,876
Dollar General
Real Estate [Line Items]
Encumbrances		645,791
Land		154,676
Buildings & Improvements		1,033,817
Total		1,188,493
Costs Capitalized Subsequent to Acquisition		0
Land		154,676
Buildings & Improvements		1,033,818
Total		1,188,494
Accumulated Depreciation and Amortization		(78,557)
Net		1,109,937
Dana
Real Estate [Line Items]
Encumbrances		4,632,398
Land		1,290,863
Buildings & Improvements		8,312,917
Total		9,603,780
Costs Capitalized Subsequent to Acquisition		0
Land		1,290,863
Buildings & Improvements		8,312,917
Total		9,603,780
Accumulated Depreciation and Amortization		(1,001,594)
Net		8,602,186
Northrop Grumman | Office
Real Estate [Line Items]
Encumbrances		5,809,367
Land		1,191,024
Buildings & Improvements		12,533,166
Total		13,724,190
Costs Capitalized Subsequent to Acquisition		0
Land		1,191,024
Buildings & Improvements		12,533,166
Total		13,724,190
Accumulated Depreciation and Amortization		(1,402,927)
Net		12,321,263
Northrop Grumman | Land
Real Estate [Line Items]
Encumbrances		0
Land		329,410
Buildings & Improvements		0
Total		329,410
Costs Capitalized Subsequent to Acquisition		0
Land		329,410
Buildings & Improvements		0
Total		329,410
Accumulated Depreciation and Amortization		0
Net		329,410
exp US Services
Real Estate [Line Items]
Encumbrances		3,446,493
Land		785,801
Buildings & Improvements		5,522,567
Total		6,308,368
Costs Capitalized Subsequent to Acquisition		0
Land		785,801
Buildings & Improvements		5,522,568
Total		6,308,369
Accumulated Depreciation and Amortization		(389,042)
Net		5,919,327
Harley
Real Estate [Line Items]
Encumbrances		6,868,255
Land		1,145,196
Buildings & Improvements		12,033,092
Total		13,178,288
Costs Capitalized Subsequent to Acquisition		0
Land		1,145,196
Buildings & Improvements		12,033,092
Total		13,178,288
Accumulated Depreciation and Amortization		(562,523)
Net		12,615,765
Wyndham
Real Estate [Line Items]
Encumbrances		5,820,600
Land		4,144,069
Buildings & Improvements		5,972,433
Total		10,116,502
Costs Capitalized Subsequent to Acquisition		959,213
Land		4,144,069
Buildings & Improvements		6,931,646
Total		11,075,715
Accumulated Depreciation and Amortization		(461,240)
Net		10,614,475
Williams-Sonoma
Real Estate [Line Items]
Encumbrances		4,615,800
Land		3,546,744
Buildings & Improvements		4,028,821
Total		7,575,565
Costs Capitalized Subsequent to Acquisition		1,054,532
Land		3,546,744
Buildings & Improvements		5,083,354
Total		8,630,098
Accumulated Depreciation and Amortization		(435,346)
Net		8,194,752
Omnicare
Real Estate [Line Items]
Encumbrances		4,349,963
Land		800,772
Buildings & Improvements		6,523,599
Total		7,324,371
Costs Capitalized Subsequent to Acquisition		219,818
Land		800,772
Buildings & Improvements		6,743,417
Total		7,544,189
Accumulated Depreciation and Amortization		(343,275)
Net		7,200,914
EMCOR
Real Estate [Line Items]
Encumbrances		2,911,577
Land		427,589
Buildings & Improvements		5,996,509
Total		6,424,098
Costs Capitalized Subsequent to Acquisition		0
Land		427,589
Buildings & Improvements		5,996,509
Total		6,424,098
Accumulated Depreciation and Amortization		(245,453)
Net		6,178,645
Husqvarna
Real Estate [Line Items]
Encumbrances		6,379,182
Land		974,663
Buildings & Improvements		11,879,485
Total		12,854,148
Costs Capitalized Subsequent to Acquisition		0
Land		974,663
Buildings & Improvements		11,879,485
Total		12,854,148
Accumulated Depreciation and Amortization		(399,615)
Net		12,454,533
AvAir
Real Estate [Line Items]
Encumbrances		14,575,000
Land		3,493,673
Buildings & Improvements		23,864,226
Total		27,357,899
Costs Capitalized Subsequent to Acquisition		0
Land		3,493,673
Buildings & Improvements		23,864,227
Total		27,357,900
Accumulated Depreciation and Amortization		(722,991)
Net		26,634,909
3M
Real Estate [Line Items]
Encumbrances		8,360,000
Land		758,780
Buildings & Improvements		16,360,400
Total		17,119,180
Costs Capitalized Subsequent to Acquisition		0
Land		758,780
Buildings & Improvements		16,360,400
Total		17,119,180
Accumulated Depreciation and Amortization		(985,899)
Net		16,133,281
Cummins
Real Estate [Line Items]
Encumbrances		8,530,000
Land		3,347,960
Buildings & Improvements		12,654,529
Total		16,002,489
Costs Capitalized Subsequent to Acquisition		0
Land		3,347,960
Buildings & Improvements		12,654,529
Total		16,002,489
Accumulated Depreciation and Amortization		(562,814)
Net		15,439,675
24 Hour Fitness
Real Estate [Line Items]
Encumbrances		8,900,000
Land		3,121,985
Buildings & Improvements		9,536,325
Total		12,658,310
Costs Capitalized Subsequent to Acquisition		0
Land		3,121,985
Buildings & Improvements		9,536,325
Total		12,658,310
Accumulated Depreciation and Amortization		(204,887)
Net		12,453,423
Texas Health
Real Estate [Line Items]
Encumbrances		4,842,500
Land		1,827,914
Buildings & Improvements		5,862,010
Total		7,689,924
Costs Capitalized Subsequent to Acquisition		0
Land		1,827,914
Buildings & Improvements		5,862,010
Total		7,689,924
Accumulated Depreciation and Amortization		(86,716)
Net		7,603,208
Bon Secours
Real Estate [Line Items]
Encumbrances		5,250,000
Land		1,658,659
Buildings & Improvements		9,184,248
Total		10,842,907
Costs Capitalized Subsequent to Acquisition		0
Land		1,658,659
Buildings & Improvements		9,184,248
Total		10,842,907
Accumulated Depreciation and Amortization		(90,731)
Net		10,752,176
Costco
Real Estate [Line Items]
Encumbrances		18,850,000
Land		8,202,915
Buildings & Improvements		21,825,853
Total		30,028,768
Costs Capitalized Subsequent to Acquisition		0
Land		8,202,915
Buildings & Improvements		21,825,853
Total		30,028,768
Accumulated Depreciation and Amortization		(54,052)
Net		$ 29,974,716

Schedule III-Real Estate Asse_3

Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization - Accumulated Depreciation (FY) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Real estate investments:
Balance at beginning of year			$ 235,212,009	$ 138,810,355	$ 138,810,355	$ 33,245,041
Acquisitions					94,670,988	104,880,154
Improvements to real estate					1,730,666	685,160
Balance at end of year					235,212,009	138,810,355
Accumulated depreciation and amortization:
Balance at beginning of year			(10,563,664)	(3,574,739)	(3,574,739)	(493,185)
Depreciation and amortization	$ (2,391,495)	$ (1,712,469)	(4,782,991)	$ (3,026,745)	(6,988,925)	(3,081,554)
Balance at end of year	$ (15,346,655)		$ (15,346,655)		$ (10,563,664)	$ (3,574,739)

Schedule III-Real Estate Asse_4

Schedule III-Real Estate Assets and Accumulated Depreciation and Amortization (FY) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Real Estate [Line Items]
Aggregate cost of real estate for federal income tax purposes (unaudited)		$ 232,900,000
Tenant Improvement
Real Estate [Line Items]
Useful Life ( in years)	15 years
Building Improvements
Real Estate [Line Items]
Useful Life ( in years)	15 years
Minimum | Building
Real Estate [Line Items]
Useful Life ( in years)	29 years
Maximum | Building
Real Estate [Line Items]
Useful Life ( in years)	48 years
Maximum | Tenant Improvement
Real Estate [Line Items]
Useful Life ( in years)	15 years