Consider taking that 500k, investing in a turn key multifamily commercial (5 units or more) apartment building. Multi family is great because you can force appreciation by raising the rents and/or lowering the Net Operating Income. There is a lot of due diligence, research, understanding the numbers presented. Using the right title company with a commercial side to do the appraisal, due diligence the first time can be very helpful. Stewart Title is in all 50 States, has a commercial division, may be able to help. The Youtube channel "Commercial Property Advisors" is full of easy to understand practical knowledge as well. Writing all this because it may be safer for you to buy an income producing asset, then lever that to develop. Good luck!