How best to invest $750k?

[George McQueen]

Through a bit of luck I ended up with $750k and intend to invest some or all of it into real estate.

I'm a remodeling contractor and have worked on hundreds of projects, making OTHER people lots of money. I thought this was my chance to use my experience to make MYSELF some money by flipping houses.

However, I'm suffering from paralysis-by-analysis, because there I don't see much of a spread between run-down 3/2 houses in the $350k range and nice houses selling in the $450k range ... at least in the Austin, TX area. In other words, my hope was to buy a 3/1 or 3/2 for $350k, make $100k of improvements, and sell for $550k ... but that might be wishful thinking.

I realize there are a million details to discuss, but I was wondering if I'm missing something, or am I'm blinded by my bias to want towards "fixer-uppers"?

I have an agent, I have a lender. Just curious if there what other ideas might be out there, especially in this weird lull, where sellers are still hoping for last year's prices, and buyers are on the sidelines waiting for interest rates to drop.