A partner can help limit your risk exposure and can help with additional resources to scale to another property too.  

Price and Exposure.

Schools are shutting down right and left from exposures.

I think both types of investments have advantages, and diversification helps with risk management.I'll admit, it's tough to complete a real estate deal and then spend the next few months quietly pouring a similar amount of money back into my portfolio... definitely feels a little boring at times.Your ratio is your choice, but I think it's good to think of it in terms of the relative advantages of each bucket and then manage accordingly:ETFs / Mutual Funds / Robo Advisors:- Diversified, by definition- International exposure- Higher liquidity- Very low overhead- Efficient + arbitrage opportunitiesReal Estate Investments:- Lower correlation with stock market in general (depends on your type, to be clear)- Typically higher income when compared with dividend payouts- Tax advantaged- Sweat equity, local knowledgeOn a personal note, I think that anyone who goes into real estate investment 100% should be doing it full-time.

I often break it down into the "five pillars" of protecting your assets.1st pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.2nd pillar is a good insurance policy as that cover the majority of your exposure.

Being around people with experience can give you the information, wisdom, and exposure you need.Maybe you can take some off and go out on a job or two with your friend with experience.

Hard to say without knowing your current risk exposure.

Does this amount of cash exposure put you in an uncomfortable place?

Pick a small deal and run the numbers and as long as you have Low risk exposure, just do the project. 

Consult with your attorney.You need to ask yourself why does it need to be in an LLC, you can always mitigate your exposure with additional insurance.Commercial loans can be had with ease if you have good credit and sufficient down payment.