Welcome to biggerpockets. I would say take your time and don't rush into anything, it's a buyers market right now and it's only going to become more of one.
I would listen to all the podcasts I could find regarding BRRRR and creative financing. I definitely would not spend all the money, If fact, I would spend as little as possible. I would leverage it in some way. I would also invest some of it, but be smart and careful about that as well. I'd want to create as many streams of passive income as I could while keeping as much of the money as I could.
What was said here about sub-letting your apt would be a great idea as well if the owner allowed it. You could charge more than the rent you currently pay and still manage it. If the owner is getting more, that might help him go along with it. It really depends on your relationship with the owner. Those things are down the line, but learning about creative financing and leveraging the money here is the way to go. Hit me up if you'd like to strategize on some creative financing ideas. Congratulation, this is a great position to be in. Best of luck to you.
