If I had a million dollars tax free....
This would not be so hard....if I realistically had one million dollars, which one day pretty soon is pretty likely....here's what I'd do.
I'd want to make sure my money is returning at least 100K annually. I'd set up every single penny of it in an account setup for hard money loans for investors who need quick closings.
I'd charge 10% interest with their property being my collateral.
After about 2 years, I'd start investing some of it, slowly slowly (like I am now) into residential real estate and make returns off the rent roll.
Ciao
Smidey