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.