Those investment funds should be moved over to multi family properties like the company that I work for (it’s privately owned): 95% leased, southeast states, and exceptionally well run.
My wife worked for a company that collected rents across the city. They also ran a fund like you are describing. Big money investors investing in multi-location rental properties. They got a real good bang for their money. The only real risk as far as I could see is too many bad renters.