$45k in Roth, I can no longer make contributions...how to invest?

[Logan Allec]

So I've been sitting on $45k of cash in my Roth for some time now, and I can no longer make contributions due to IRS limitations.  I'm wary of sticking it into the stock market like I did since I graduated college in 2009 (cashed out on everything earlier this year).  But I also hate sitting on cash.  $45k isn't anywhere near enough money to pay cash on anything local (I'm in LA), but it's a large enough sum for me that I'd like to put it to good use and not let it get eaten up by inflation.

If I were a bit older and closer to retirement, I'm fairly confident that I would invest in notes, but since I'm still relatively young (27), I'd like to use time to my advantage and get in on future equity appreciation since time is definitely on my side here.  But if that doesn't seem prudent in the current market, I'll gladly invest in notes for the next 5 years, hope it all works out, and perhaps by the end of that cycle my account will have grown to $55,000 or even $60,000, and real estate is cheap again.  But of course that's all speculation.

I'm also toying with the idea of investing in an LLC that is currently offering a 2% interest in 10 cash-flowing Indianapolis properties in exchange for $10,000 with a 3-5 year exit plan. I'm still unconvinced, however, since I'd be roughly paying $1,000 for a 2% interest in each property, and I'm not sure that these 1,000-ft rehabbed houses in supposedly "gentrifying" parts of Indy will sustain a $50,000 current valuation and then some, at a clip of 3% per annum, as I'm told by the principles ;)

Thoughts or advice, anyone?