Read my old posts here about ARR. I've posted several good writeups from Seeking Alpha and other resources. I actually considered buying ARR until about 6 weeks ago.
Understand that mREITs are quite different than regular REITs. The former are generally extremely leveraged bond funds. They do NOT own real estate.
mREITs are complex; I doubt many mREIT investors understand how they work. They only know about the flashy dividend. And paying divs monthly is just a gimmick for retirees and such. Make up your own mind. But there is no such thing as a free lunch.