Unless you have already identified some opportunities, you may be sitting a while on that cash so that the interest cost will be accruing while your funds remain unused.I do not know the Provo market (I am sure others on here can give you more granular advice) but am generally a fan of real estate investing in college towns - vacancies tend to be few and far between as demand almost always outstrips supply. 

This feels like a no brainer considering most townhomes in Lehi are going for 330k+ right now as supply is very low and demand is very high.

If the supply pipes are that old, the drains are too probably and could be corroding through.

@James Edwards This will depend on your local market including the supply and demand.

See what the local supply and demand is in the area.

Demand outpaces supply ...substantially. 

A quick look at prices of units not supplied by UCSB show a 3 BR with 6 students starts at ~$1k/month per student (Own bedroom is double the cost). 

In addition, I suspect there are issues/inefficiencies in the materials supply chain due to COVID.

The taxes in the state are not that bad; however, the seller did not supply the actual value.

My name is Abhi Kotti and I am a senior at Arizona State University (Barrett the Honors College) double majoring in Finance and Supply Chain Management.