Advice Guys. 650k cash to invest but no credit history in the USA

[Ken Power]

Hi Guys, have a (good) problem but need some sound advice. Myself and my wife will be moving to the US ( were from Europe) . We will have approx $650k cash to invest in Real Estate. Even though we have 4 star credit ratings in the U.K. , once we arrive in the USA ( will be living in Charlotte NC initially) , we will have NO ACCESS TO CREDIT for at least two years until we build up our credit history  in the US ( credit histories don't transfer abroad). My wife intends to take a regular W2 job. I will be self employed in the US so banks won't want to touch me a Real Estate Investment loan/ regular mortgage for about 3 years.

My Question -

Could I get your suggestions on what way you guys would go about investing the $650k cash into Residential Real Estate if you had no credit yet/ access to mortgages/ or loans etc. 

Naturally we would love to be able to utilise credit and leverage along with a lump sum however we're stuck with just the lump sum for now.

-We want to be monthly cash flow positive

- Looking longterm 15/20 years

- I have a construction background and could take a Contractors Licence to build/ sell 

-would you invest all pure cash in a number of single family units e.g. 10 at $60k average ......? Do Flips? Build/ then 'Sell one and Rent one ' Duplex units to build a small portfolio? Buy 2 properties for cash in v good areas, rent out for 2/3 years until we have credit built up then release equity from the first two to start building a postfolio utilising leverage ? Or are we simply too late in the game?

Any suggestions based on our situation i.e. $650k cash to invest but  no access to mortgages / leveraging for the forseable future would be REALLY appreciated.

Thanks in advance guys

Ken