I sold a business. Do I invest or pay off debt?

[Joey Allison]

Guys, I am 34 years old. I will be selling my ownership in one of my companies for $300k. With this sale, I’m losing $40k per year in salary. I’m trying to see how you would invest the $300k. Here’s my breakdown. I have 2 rental properties. I owe $64k and $86k respectively. I own a home and 2 vehicles. Those payoffs are $440k, $30k and $30k. No other notable debt exists. My question is, should I use the $300k to buy as many rental properties as I can to replace as much of the $40k as possible? Or, should I pay off as much debt as I can which will save money. Both options will increase my net worth, but both options have their pros and cons. Paying off the debt will save 6% interest while buying the condos will produce about a 10% return. Thanks everyone!