I'm an investor and Realtor based in Central NJ. 

Following - I'm based in California 

The cash on cash return is only meaningful when you evaluate it based on your long term plans.

I think the most I could possibly get monthly out of the property is 1000 based off of rentometer, zillow, and BP.

 @Deepak Malhotra based on your sales price, I assume this was also sold many years ago.

Have invested in ABQ with first purchase in 2020 - and that was based on my knowledge as a film/TV friendly area and affordability.

I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.

Are there many REITs that currently regularly engage in this type of feeder based structuring for a investors?

Without a firm base and working familiarity with these three areas the investor will not have the knowledge to analyze, negotiate and close advantageous real estate transactions. 2- Experience - the first few deals are likely to be smaller, harder, with more “surprises” and not as profitable as the investor imagined.

As a beginner investor based in the Seattle metro area, I'm eager to learn from your experiences and share my journey as I get started in this field.My current strategy is to focus on live-and-flip for the first three deals (looking for my second deal) to gain hands-on experience while building equity and learning the ins and outs of renovation and the local market.