If the property is to park money and with US real estate you can liquidate it very quickly for a cash sale, a tenant will throw a huge wrench in that.

A tenant in a single unit/house will easily drop the price by 10% or more from my experience trying to buy a single family home in SoCal in 2016.

As well, who can afford to rent these units? The mortgage/break-even point for for a $8mil value would be $37,825 a month.