My main goal is to buy & hold.  

Investing typically takes much less time then commission work so you can fit it ii in between commission deals.This has been my strategy for several years and it has worked out nicely for me.

I have noticed whilst reading some of the articles and guides on here that some of the situations and examples don't really fit how New Zealand works, however I still don't know a whole lot about how New Zealand works either.

Hello BP,I have seriously been contemplating on making a career change in my life - one that is more geared towards my life goals related to REI.

For $135,000 you can surely buy a quad in ABQ but it will be in an interesting area and either need work or will have higher maintenance costs due to the clientele.But lower income housing surely cash flows better and NM has good weather.For me personally the question goes to what is your long term goals, why NM?

We started out investing about 3.5 years ago with the goal of having more time to enjoy life together.

Our goal in real estate investing is to gain a substantial amount of passive income to allow us to work fewer hours at our jobs and more hours together doing the things we love. 

Doug,Your post wasn't real specific, so I'm not sure if what we have to offer, is a fit for you.

My long term goal is 1000 properties.

Also remember Cap Rate is used more as a market indicator than a true measure of return, everyone structures deals differently and has to see if the opportunity fits their model.