About to inherit 100k - need advice

[John Hurley]

Howdy folks. I am about to inherit 100k in cash. Here are some other relevant details: 

- My credit score is over 700. I think it's closer to 768. Haven't checked recently. 

- I've been developing a software product that is launching at the end of this month, so I don't have recent traditional employment history. The software product probably won't be operating in the red for about 3 to 4 months. 

- I have no debt. 

- I have under 5k in cash (having to que up marketing and legal services for new business)

- I have a used car which I can sell for around 25k (I don't need it)

- I didn't know I would be receiving this amount until today. Thankfully everyone in my life is fine- this is just the best move for the family per the advice of their accountant. 

What I want to do: 

I'm very confident in my software product given my niche industry and experience. However, I wan't to be responsible with this money and not put everything I have to into this company. So I'd like to put it into real estate, hopefully multi family. I was hoping someone could address the following points with an eye towards making the most money responsibly: 

- to sit on the 100k and wait for the market to cool, or buy now / soon

- getting a 3.5% FHA loan vs a traditional loan

- doing a small down payment vs a bigger one 

- having all units be LTR, STR, or a combination of both

- anything else you think is good advice if you were in this situation

As you can guess part of me wants to panic. But I'm trying to keep a cool head here and hopefully can get some good pointers. Thank you!

[Taylor L.]

Focus is a superpower. IMO any real estate investment that will distract you and take time, energy, and focus away from your software business is the wrong thing. It's always good to set cash aside for an emergency fund as well as any taxes. Personally, if I were in your shoes I would sit in cash if only to avoid distraction. There's opportunity cost involved, but building your business should be the main focus.