Tax Credits and I have no clue how to spend them!

[Ethan West]

I need some input on my current situation. 

I got back $570K from the employee retention tax credit which I am allowed to spend however i'd like. There are a few ways to qualify and even though I consulted two attorneys and my CPA who all said they would take the credit I am still open to an audit and it would be up to the interpretation of the auditor to decide if I am entitled to all of this under the ambiguous 1/3 ways I qualify. 

I can do a few things with the money:

1.) Pay off $500K in debt which would result in $8,400/month freed up. However, If I do get audited within the 5 year audit statute of limitations I may have to pay a portion back (doubtful but possible). If I go this route I may not have the liquidity to pay back immediately. However, this would result in a return of $504K in 5 yrs.

2.) Invest it in property (I have moderate experience flipping) and then if they audit I will have a property to sell plus the rental income I made. 

3.) Invest it in a fund and earn 5% and don't touch it for 5 years.

4.) Invest in my primary income business and could potentially double growth next year (I have a track record of doubling my business each year over the last decade besides 2020 and 2021. This year has been more than 100% increase in revenue) which could be the best return.

I am 37 and am not sure when to start taking a more moderate approach with my risk tolerance.