Help! What to do with proceeds from Home sale

[Ryan Devries]

Hi! My wife and I have an accepted offer on it. We will have about $480,000 from the sale. Up to this point, my wife and I have tried to live debt free and built our last house cash. Now, I'm seeing investing a bit differently and would love advice on what to do next. We plan to build our next house on paid for property We own in the midwest. My question is: do we build cash again, or get a small construction loan to fund the build, leaving the cash to invest with. We also own a 1acre lot in a prime area in the west,, which we plan on building a short term rental on. My initial thoughts would be to get a loan for personal home (cheaper interest rate), and build the one in the west cash. I am open to any other ideas! We do not own any rental properties yet, but would love to jump into that game. Thanks in advance for any and all perspectives and advice!