It's unlikely that the rental returns would catch up to the initial capex required to acquire the house. Plus on top of that you have opex (maintenance/insurance/taxes/debt servicing) as well as the counterparty risk of shitty tenants, risk of loss of the asset (fire, earthquake) and seizure risk (eminent domain, failure to pay property tax etc.). Then, god forbid, should you ever want to unlock your equity, you have to sell the *whole* house. Bitcoin destroys property as an investment class across all metrics (other than, possibly, volatility), which is why, long-term, it will drive property prices down to their utility value.
Discussion
A lot of people use a HELOC from their primary home to borrow the initial down payment for rental. As long as you calculate all the expenses in and have positive cash flow you can then turn that profit in to bitcoin. Yes, it’s more complicated than simply buying bitcoin but what the goal of a rental is to increase your income. The more extra money coming in means the more you’ll have to buy bitcoin. It’s just like having a business. Yes there’s risk, but there’s also the opportunity to profit.