How would you invest $1 Mi in current market?

[Anderson Bigate Nogueira]

Looking for strategies in this current market that I haven't thought about - WHAT WOULD YOU DO? Here is the case: still have my W2 job and the goal is to replace it with passive income from real estate. My residence has about 83% equity, so I want to put that "dead equity" to work, so I am considering selling the house, go live in a rental and take out the equity to invest in cash-flowing properties. Hypothetically, let's use these numbers:  Value of the house $1.2Mi on 10y mortgage with 2.25% rate, let's say net equity is $1.0Mi ==> Planning to sell it, go rent a smaller house and invest that $1Mi. My though process (using rough numbers) let's buy 10 properties with $100k down each (25% of $400k) and assume $500 average free cash-flow/each, $5k month and $60k/year vs $1mi principal invested = 6% Cash-on-Cash return. Slightly above inflation, and let's say in 2 years rates will go down 200-300 basis points, I refinance and increase cash-flow, while is building equity over time.

What strategy would you have? What advice you would give me?