What would you do with $850k?

[Michael Graystone]

Hi everyone. I'm brand new to BP and looking for some opinions/advice from all of you experienced investors. 

Here's the question:

If you had roughly $850,000 cash to invest in buy-and-hold properties, and your priorities are 1) to maximize cashflow and 2) minimize risk, what would you do?

Assume you live in a market that does not cashflow well at all (New York).

Also assume that appreciation is not a priority.

Other assumptions: you have some time on your hands but zero experience in rehabs. 

You intend to hold these properties for a long time.

[Account Closed]

I'd buy 10 houses for cash and retire.  Seriously.

Cash spends the same no matter where you live.  If you can't buy in New York (which I'm not sure your looking in the right places), then buy out of state and hire a property manager.

It's been a while since I've been to New York (never been in the city) but I know there are a few opportunities in areas like Buffalo, Syracuse, Endicott, etc.