Buy a business or real estate

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Just for the fun of it . Let's say you have $1,000,000 to spend however you wish. 

1. Put 20% down on as many properties as possible and rent out . 

2. Completely pay off 10 homes and be making at least 80k a year in passive income.

3. Buy a business . 

4. Hard money loans/ notes 

Which one would bring the most income a year if I wanted to put the hard work and dedication into it .

I'm gonna sound probably like a lunatic , but after looking at business on bizzbuysell ( I know most of them are probably sugar-coated ) a million dollars could get a profitable business making at least 300k bet a year. Most specifically I have been checking out car washes . 

Inputs ?