How to invest a considerable amount in RE

[Yosef Itav]

I'm an experienced RE investor who lives in San Diego. In a year I will be selling an single yet expensive beachfront investment property I own. I own it outright without a mortgage. I am looking to replace this property with another investment property that will be a long term buy and hold. It seems like the rentals around here don't produce a worthwhile ROI. Looking for suggestions on where to invest and park my money long term. I'm willing to consider other areas/states. I will consider buying land and developing, multifamily unit building…perhaps buying large piece of land, subdividing and reselling. Even considering flipping multiple single families at the same time. Any suggestions would help.

Thanks