As long as you are not understating any type of income - and I am taking vary broad view here - - and you are not, overall, defrauding the US Treasury.  

The 10 year Treasury rates during the early 80s peaked at 15.84% in 1981. 

Wish it were true, but every lender bases their rates off of Sofi or 10 yr Treasury, etc. 

I could put my money into treasury bills (which are about as risk-free as an investor can do) and get around 5% for year (and completely passive).

Nevada taxes the casinos instead...My rental income is tax free even in an income tax state, as I show now income due to the expenses and depreciation.

Personally if I had 1 million just laying around Id probably put some of it into real estate, pay down some existing debts, some of it in treasury bills, and some of it in an index fund. 

Major hotels will upgrade their rooms, bars, restaurants and casinos frequently, sometimes every 3-4 years.

It depends on your goals and the interest rate.If your goal is to invest in more assets, and you have a low mortgage rate, why not take advantage of current 5%+ treasury money market returns (Vanguard has a couple with good returns and very low fees).

I haven't had a car payment in 12 years and buy cars (when absolutely needed) with cash.While you decide what to do, I'd stick the 100K in US Treasury bills or money market (look up Vio bank) and earn 5.25-5.5% interest on it risk free.

@Andrew Steffens: there is Sky River Casino nearby, it’s 20 mins from CA Capitol.