210k Cash, asking once again how I should approach investing it?

[Alison Lee]

I posted a week or so ago about my situation. We are getting ready to sell a house we own free and clear for roughly 200k-220k. We had been renting it for just $1200/mo which wasn't nearly enough money. 

Anyhow, I am looking at investing the bulk of that money in either real estate rental property or I'm thinking about buying several acres and building boat storage facilities. I live next to Kentucky Lake and Lake Barkley which are massive lakes in Western Kentucky. 

My main goal is to do this for cash flow purposes, that's most important for my family. I don't understand the thought of putting as little down as possible and leveraging as much as possible? Talk about small cash flows?? Wouldn't I be better off buying three SFH at 75k apiece and paying cash for them in order to build cash flow?

Would i be better off utilizing another approach, such as being a private lender?? I need sound advice. I've got BIG decisions to make and soon!! Help.