Should I pay off the new house or invest some into a rental?

[Len Nette]

Hi, I'm a total newbie. We sold our house in the Bay Area, CA and have about 700k after paying off the loan. We bought a new house in CA for 850k. We do want "emergency cash" and to put some away for our 11 and 12 year old's college tuition (not sure where to do that, but that's another topic, unless you have advice on that too).  The questions now are

1) how much do we put down for the new house

2) how much should we put as a down towards a new house in Las Vegas (near Raiders stadium)? Factoring in SID/LID, hoa, property manager fee, and I'm assuming other expenses.

I just found some rental return calculators online, but I wanted to ask those that are more experienced for their feedback, thanks!