Here is what I would do.

Here is the post I replied a couple of days ago to someone with $900k.  The investment part of post is still suitable for your situation since it seems that you don't want the trouble of being a landlord.  The equity market historically outperforms the real estate market.  I hope that you max out your company's 401(k) and IRA.  Good luck.

http://bbs.wenxuecity.com/tzlc/1177388.html