newb with 2 rentals in San Jose, advice on investing $500k

[Yi Chung Chen]

Recently sold 1 property in Santa Clara, CA.  have 2 more in San Jose.  We live in 1 of them + rent out 1/2 to wife's C-corp business.  other one is cash flowing $1.3k/mth, but only because we put $500k downpayment.  So market value is around $1.9M with $850k equity.

have up to ~$1M in cash i can start investing with right now.  was thinking put 1/2 in stock market and 1/2 in more real estate?  Started looking at investing OOS.  have a friend with property management company that manages 400 doors in Maryland, so looking at investing in MD, buying some $150k condos that will cashflow $250/mth/condo, ~6% cap rate.  

Since i already have $400-500k in stock market now, should i put less of the above mentioned $1M in stock market and put more into more real estate?

OOS seems to have better cashflow, but appreciation in bay area still seems possible if you can find good deals.

Any advice would be greatly appreciated.  

Thanks!