How to invest my $700K CASH Anywhere. Goals: Residence & Income.

[Paras Turakhia]

I am coming across a decent chunk of Cash $700,000. I want to get into RE full time I currently have 3 Low-end rental properties i bought a few years back in Delaware. 

Goals: 

1. Make a good and safe residual income (by safe i mean recession proof, and always being able to pay of my Monthly Payment)

2. Move to an aspiring area have been thinking Florida or California. 

3. Get into Realestate full time.

4. Great School Districts.

Questions:

1. How would you invest this?

2. Would an FHA Loan be advisable since i have never bought a house?

3. Besides FL & CA. What are some other markets you would suggest. 

4. What is a correct LTV to aim for, something about even a 20% LTV scares the Day lights out of me as all i have is this 700k. Being that if something goes wrong due to vacancy and i cant make my payments, i could loose everything.

5. Your general advice please!