'Communications' usually means verbal/audio, not visual.
The purpose of the RINO series was to allow users to communicate locally via radio while also being able to see where each other are on a map. And this only barely works, since you have to request each users location each time you want an update, no more often than twice every 60 seconds. This process can not be automated by law.
The more expensive RINO 75x have prelaoded maps and you can add your own, but the tracking is poor at best, at least for the purposes of outdoor motorsports tracking.
The 700 doesn't have or support any mapping, so this feature is virtually worthless.
Also, Garmin refuses to make their RINO series compatible with most repeaters, limiting range to those nearby and in direct line of sight.
You are much better off using dedicated radios for audio communication (see
GPSrChive > Store > Radios for suggestions), and dedicated GPSr for navigation.
If you must track each other, the Tread series of navigators can do this in an automated fashion AND provide audio communication as well, but at considerable additional cost.
Some of the more expensive radios even have the ability to share GPS location information with your friends, but have no mapping capability.
If you are all going to remain in cell tower range, you can use the Tread App to track each other on a map so long as you have a cell signal, for free. Maybe use this option along with an inexpensive radio.
Also keep in mind, GMRS radios and HAM radios require a license to transmit (see
GPSrChive > How to... > GMRS for more info), just like the Garmin RINO series, as they are GMRS. But, MURS radios do not require any license. All of these are available in the
GPSrChive Store.