Can tenement houses be tokenized?

As in the topic, can tenement houses be tokenized? A friend of mine has a small tenement house in the vicinity of Częstochowa, but it is in a deplorable condition until complete renovation, unfortunately the lack of funds does not allow him to thoroughly renovate it. I gave him the idea of tokenization. What do you think, would it be a good idea to raise funds for the renovation of a tenement house in exchange for the subsequent distribution of rental income?