in a food processor or high-speed blender, add the bell pepper and onion and blend until finely chopped. Use your tamper tool to encourage blending. Add the cilantro and garlic and blend again until everything is combined and finely chopped, scraping down the sides as needed. You should end up with about 1 - 1 ¼ cups worth (it will be a bit watery).
In a large pot over medium heat, add the oil and meat and cook for 3-5 minutes, stirring occasionally and breaking up into small chunks (if using sausage), or until the meat is browned. Add the sofrito mixture and ½ teaspoon salt and cook for 3-5 more minutes or until the water has evaporated and the sofrito has darkened a bit, stirring occasionally. Things should be smelling really good!
Add the tomato sauce, peas or beans, water, rice, and remaining 1 ½ teaspoons salt and stir to combine. Increase the heat to high to bring to a boil, give it a stir to make sure no rice is stuck to the bottom, then cover and reduce the heat to low or medium-low to maintain a simmer. Simmer for 25 minutes (covered), or until the rice is cooked through and liquid is absorbed. Remove from heat and fluff it up/mix it gently with a fork. Taste and add more salt, if needed (beans and rice need a lot of salt!).
Top with fresh cilantro and enjoy it as is, but I like it best topped with cheese + pickle red onions (see topping ideas).