Is "investment property FIRE" a thing?

If my monthly cost of living is $4,000, my FI number would be $1,200,000.

Now let's say that I have an investment property that generates a $4,000 cash flow per month after taxes.

Assuming that rental rates increase over time as inflation increases over time, I would be FI exclusively from the profits of the investment property. ...Right?

Is this "just as good" as living off 4% of a FI number? Do we already have a name for this strategy?