[Kanbab]

If you have the credit I'd buy $500,000 worth of rental properties. Ideally I'd get 10 x $50,000 putting down $10,000 each. You'd need a bit extra for closing costs, so you can just buy 9.

If done right, you should be earning over $15,000-$20,000 a year in rental net income. Spend that money as freely as you'd like, making sure you keep aside 3-6 months of mortgage payments in cash.

Learn how credit works, and feel comfortable buying a car with little money down at 1% interest, rather than reducing your asset value buy buying a car with all cash.

You should read more about this but that's my suggestion, best of luck.

[mrfusion]

Where would you find properties that cheap?

[opendais]

I'm not the OP but even in middle america you can.

I'm not convinced on his returns tho.

I calculated renting out my condo, refinancing to buy a second one, with tax depreciation, repairs, etc. I was looking at a return of ~2% on assets and operated under the assumption housing appreciation would cover the cost of inflation.