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