If you come up with a plan and are methodical not impulsive, you could have a very nice size portfolio in a few years. 

Just trying to make sure I'm not impulsive and look at all options. 

My first impulse is to purchase 4 $200k homes with $100k down on each and rent them out.  

Am I an impulsive person who likes to gamble?).

It only means one has to do the steps CORRECTLY, not impulsively. 

Don't act impulsively! 

You’re pretty impulsive with your comments and over generalize with no data, just emotional responses.This isn’t the forum to do that as we’re here to help others with real data and actual experience.Chill out a bit.

@Wes Blackwell unfortunately many people would just spend it on impulse items and be in the same exact spot they were in prior to receiving this “free” money.

(If you ever want to see just how bad humans are at impulse control and thinking long term, just google "Stanford Marshmallow Experiment": https://www.youtube.com/watch?

I want to increase my wealth by making that cash work for me thru real estate, however when I see RE market pricing at the same levels that they were when everyone and their mother was saying that "housing was becoming unaffordable and that there is no way that appreciation is going to continue going uplike it has been (hence the bubble is going to pop)" right before the RE market crashed, it does make me think twice and do my homework before making a move that is going to put me on anxiety meds if I make an impulsive play that puts me in a bad position.